Should the USA Auto Industry be bailout?

@slotplayer 186073 wrote:

GM makes crappy cars. I had one and will never get another.

Better yet have me do it. I can be a real prick. ” title=”” class=”bbcode_smiley” />

I agree with you 100%! I hate to admit that we have a Volvo because safety is my #1 priority! I’d like to buy american, but I’m NOT going to until it’s the best choice for me so I hope they CHANGE. ” title=”” class=”bbcode_smiley” />

GM makes crappy cars. I had one and will never get another. Unions suck and are ruining the country. Their time has passed. I’m a firm believer in merit raises and not across the board raises.

The reason GM is pissing through the money is they have a huge pension fund liaibilty and are spending the money on that.

If the US wants to bail them out, they should allocate money specifically for the pension fund payments, get a non-partisan bookworm sickler to oversee it and tell GM no more non-sense, no more excuses. Better yet have me do it. I can be a real prick. ” title=”” class=”bbcode_smiley” />

@Goldfinger 186012 wrote:

Well at least they are not “executives” as is always wrongly claimed. They are a business that makes money with agents and they won’t have their next meeting in a shed. What I find more interesting is that some of the banks that receive bailout money are planning to pay out a large chunk of that in dividends straight away which seems to completely defy the point and makes my wonder why they applied for it in the first place.

I just saw on CNN where the oversight committee is not very happy about this ‘meeting at a swanky’ resort and has asked the CEO to resign and I don’t blame him. Thank goodness someone in congress has some common sense!

BTW very good points bud!

I can’t answer the question about the auto bail out as well as most of you have, but I do have a comment on it.

I own 3 GM Products, I have always been a GM fan, but wasnt the last vehicle they released a gas gulping SUV type of vehicle, what is that all about, are they that out of touch with what this countries not only wants, but needs. We dont need another new SUV on the road, and are not the workers there being paid about 40 bucks an hour for what most Americans claim to be sub standard work.

I am often told I’m crazy for buying American made cars, because foreign cars are built much better. Hell, I bet the streets would be lined up with people willing to do the same job, maybe a better job for half of what these people make now, plus the great health care and pensions they make and then they go on strike for MORE ???????

I vote a BIG NO on the bail out, but if there is a bailout, then Madam Pelosi should put some type of stipulation in the bill that states Tax paying Americans should get a special tax credit for buying one. From top to bottom they all are over paid and so are the union reps that take their money, ever see the offices these union guys have lol, there was a time when they helped this country, but now they are in bed with management and what all the non-union ppl said would happen, has happened. They priced themselves out of the industry.

I love Chevys and have had union jobs all my life, but there are way too many non union workers busting their butt for peanuts getting one forth of what these auto people make, talk about the little guy, thats the little guys, who is helping him. The janitor mom holding two jobs make nada while some union line worker is making 3 times as much in one job, while she has to work 2, hell no, I’m not for a bailout for the auto workers , the management or their unions.

Getting back to the auto industry.

Australia regualrly have to bail out their Auto Industry (Ford & Holden) as these two Aussie icons continue to lose market share and are bleeding money to the tune of around AUD $1 billion a year.

Bascially, there seems no way for these guys to make a profit, but the government feels compelled to react to keep these two “companies” afloat with bailouts. The Australian government has just announced a AUD $6.7 “subsidy” for the next six years.

In a side note – I saw the American auto industry reckons that it burns through USD $1 billion each and EVERY month in it’s application for funds !!!
:Cry:

Well at least they are not “executives” as is always wrongly claimed. They are a business that makes money with agents and they won’t have their next meeting in a shed. What I find more interesting is that some of the banks that receive bailout money are planning to pay out a large chunk of that in dividends straight away which seems to completely defy the point and makes me wonder why they applied for it in the first place.

@Goldfinger 186001 wrote:

I understand you’re peed off Gamtrak but as far as I gathered those “AIG executive meetings” are the equivalent of CAP Europe AIG style (i.e. AIG Phoenix ).

CAP is not funded by the government or using my tax dollars or depending on the tax payer to survive so none of that matters to me as it relates to what they do. Just because things worked like that in the past does not mean that they continue to work that way.

I guess now I can see why they get away with it since it seems to be accepted so easily. :sarcasm:

Taxation without representation was one of out battle cry’s back in the 70’s, the 1770’s.

US Constitution, Article 1, Section 7

All bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.

So the US just had an election for all 435 US representatives, 1/3 of Senate and the President.

How is there a lack of representation? Everyone in the world had access to the news of the bailouts before the election. The representatives have been elected, just because your beliefs aren’t supported doesn’t mean you aren’t represented. It just means that the rest of the voters didn’t see it your way.

big 3 have been out of touch with market for years. they deserve it.

@TheGooner 187673 wrote:

THAT would be criminally fradulent.
:sarcasm:

Yea, I would say that describes what Paulson and Bush did. They changed the rules to suit their needs so they can change it to fit others.