[duffman77087]

Whats up with all this stuff, how can we bail out AIG and then find out that they are just partying the money down. Then to have the nurve to ask for more, but we can't bail the big 3 out? How many of you'll would just keep the cars you have now and never buy another one if they went under? How many would buy a inport? I know I would bail them out, and if they went under I wouldn't have a new car ever again. Well let me know you're input on this.

[95blkcobra]

i think we should bail them out. i hate imports its like giving our hard erned Us money to them.

[MustangMike94]

BAIL OUT considering, half of my family works for GM

[04KenneBellGT]

I say help them out, but there is nothing wrong with an import. My daily driver is a 04 toyota tacoma prerunner and i absolutely love it. It is one smooth running truck, but there is a difference between driving an import around and driving one around with fart can exhaust thinking its fast and revving at everyone. But if the big 3 were to go under, things would just never be the same again. I know i would keep my stang forever which is probably what im gonna do anyways.

[95blkcobra]

i honestly dont see how our government could just let a huge peice of american heritage fall? are they stupid? so many jobs would be lost and the auto market woudl never be the same again

[jim293]

I am just wondering where it will all end. I am wondering who is going to bail the American People out.

[moterhead]

I have mixed emotions about the bailout. Part of me says to do it. The other says that if the govt lets 'em go into Chapter 11, then the companies can force the UAW to allow them to get competitive with the foriegn makers.

I read somewhere that the big 3 are paying health insurance for 700,000 people WHO NO LONGER WORK FOR THEM! I had a brother in law who worked on the line for Ford. Seemed like every other week he had time off for this or that. He got 13 or 14 holidays plus a personal day a month plus his regular vacation time. Then there is the 95% unemployment when he was laid off. Then there are the "job banks". Basiclly paying people to NOT WORK! How long can the companies afford to do that? Answer, they can't any more. The 25 billion bailout money will just delay the inevitable unless there are major changes in the UAW work force. Let's face it. The foriegn companys have more efficient, lower cost work forces. The UAW has to face reality. They either give up benefits and allow the companys to get competitive or there won't be any American auto companys. Frankly, I'm surprised the big three are selling anything right now. I sure wouldn't buy a new car from a company that might be going bankrupt.

Whether or not the bailout happens will depend on when the decision is made. If made now, it likely won't. If after Obama takes office it will. Democrats have always been in the pocket of the unions.

[ONEZ ST]

Let em tank if they cant compete with other auto makers.

I have issues with a CEO making $40,000 a day in pay and compensation crying on the taxpayers shoulder for a bailout.

[ONEZ ST]

Obama Bail Bonds!

Originally Posted by jim293

I am just wondering where it will all end. I am wondering who is going to bail the American People out.

[5.0Rookie]

I agree. The $25 billion is not going to solve the fundamental problems with the big 2.5 (too many dealers, too many overlapping products, too many labour commitments, and too many cars nobody wants to buy). As Moterhead points out, it'll only prolong the agony. When you're pissing through $2 billion a month as GM is, well, you do the math.

If they all went Chapter 11, they could reorganize and refocus. Once they emerged from bankruptcy protection, they'd be leaner and meaner.

So don't worry folks, Detroit isn't going anywhere. It's wounded to be sure but not mortally so. C11 is the answer, but the question is when?

[ONEZ ST]

5.0, what's the talk about the St Thomas plant?

[jim293]

Today on the news they were saying that workers that are currently employed with GM are making $78.00 an hour with there benefits. and Toyota workers were making $35.00 an hour with there benefits. Wow no wonder why those cars are so expensive.

[ONEZ ST]

Jim, just like in the ferryman crossing the river in the movie The Outlaw Josey Wells; as the GM employees cross the bridge from employment closer to unemployment they will change their tune and willingly work for Toyota at $35 an hr in pay/compensation.

I wonder if the UAW union will pay folks if GM tanks.

[SirQ]

Taking private jets to DC to plead for the bailout was a pretty moronic move. Ford's GM Alan Mulally telling them no, he was fine where he is with his current pay ($21mil last year) made me wince. And the Big Three's explanation that the credit crisis is to blame for their troubles is a blatant lie.

Both my cars are Fords. Ford is one of only two stocks I own outside of mutual funds. I would really prefer Ford (and GM/Chrysler) pull themselves out of their pit, but they can't just drop union contracts or get into any serious restructuring without some sort of change. A bailout isn't a change, it sets a very unpleasant precedent, and it's no guarantee that the Big Three won't need another bailout next year, or the year after that.

Painful as it may be, they can go chapter 11, get some new management (hopefully), rework their labor relations, and get some traction on the market again. Their CEOs certainly don't give me any reason to believe that handing them $25billion of my money will do anything except postpone the inevitable.

[moterhead]

SirQ, I agree 100% with you. Chapter 11 is really the only way the 3 can FORCE the UAW to allow them to become competitive. AFAIK, ALL CEOs make obscene amounts of money. The guy running Chrysler now, Bob Nardelli, about ruined HOme Depot. They paid him around $250million to go away, then Chrysler hires him???