Some replies do get over the edge on this subject, but the "Mods" are fair in their decisions of what to let go or close. Many feel that the unions have asked for too much. Well when the company was making huge profits the union only asked for their share and when trouble started with the economy, they also took concessions in benefits. Now the unions are ready to further the concessions to aid in GM's survival. Is this not what most think is being responsible to the company? Why do most figure that the union is not trying to be a partner to our economic downfall caused by the banking system in the first place. They gave out ridiculous loans that could not be covered by by the people applying for them. That is where the real greed came form in the first place. Is it not?

 

I believe they should be rescued. Not because they are really deserving but because of the affect it would have on the economy if they failed right now.

 

Looks like those Republicans like Shelby from the "right to work" states, are going to sink GM and Chrysler . Maybe the 3 million out-of-work autoworkers should move South to TN and apply for welfare from them.

They handed over $700B to the banks with little-to-no oversight; they made no mention of salaries of workers in the banking industry - just that UAW workers make too much. Watch the stock market today - it's gonna tank.

 

Cheney's quote on the Senate action, "It's Herbert Hoover time."

 

Sindy, well said. I believe in free speech, but this forum is for talk about HHRs and related stuff. Yes the Lounge is more for items that are not directly HHR, but some just don't know how to behave themselves. When personal attacks are made, you and the other moderators have done the right thing.

Keep up the good work.

 

I think this could be posturing, I suspect there will still be a bailout.....remember the first kick at the $700Billion was voted down also.

To be perfectly honest thou, I'm not sure a bailout is in the best interest of the big 3. I really think they would survive without it. Will they be smaller...yes....but will they be more efficient an profitable....yes. Sometimes filing for protection makes a company better. All a bailout does in my opinion is allow then to keep doing what they've been doing....and as the old saying goes, "If you always do, what you've always done, you'll always get what you always got". Isn't that the definition of insanity? .... you keep doing the same things, but expecting different results?

To keep on with the cliches.... "necessity is the mother of all invention", perhaps filing for protection, this will necessitate GM and chrystler to "smart'in up"

 

Why not spend that $700 bil on bailing out REAL working Americans instead of the big car makers. Why not spend that $700 bil on a huge raise for our military folks since they are the ones that REALLY deserve it. Pay them like pro sports players get paid. I have a car and truck that I plan on keeping ,I dont need anymore. You say "well its not going to last forever", sure it will because I'm going to take it to the local shop for repairs, thus putting money in the local shop owners pocket that guess what, is also hurting. This bailout will last about a year then they will be begging for more. We the people are the ones that need help. How is this bailout going to help us? Its not, its only going to hurt the REAL working American people. Truth is, we don't support lobyists , so we wont get bailed out.

 

If we change "rescued" to "assisted", absolutely. The automakers, or any other company for that matter, that makes years after year of bad decisions, worse products than the competitors, pays their CEO's and other assorted bigwigs HUGE unjustifiable salaries and benefits and generally does things which are not sound business practices, they should not be "rescued".

However, due to the impact it would clearly have on the economy as a whole if they did indeed fail, we should clearly "assist" them with working capital PROVIDED they immediately improve their business model and make decisions regarding products, compensation, and business practices that are in line with moving forward in the new economic climate.

I have no brand loyalty, generally. I buy the best product I can which fits my needs and budget. When the big three wake up to the fact that they must make products which meet these criteria profitably, their companies will prosper.

 

The President is looking at tapping the "Troubled Asset Relief Fund".

The stumbling block was the fact the UAW did not want to cut pay till 2011 and no one had even decided what pay scale was to be used. It was to be based on the pay at the Asian owned plants but they all pay different.

We keep thinking Detroit is in bad shape..... I think we are just watching two groups of Idiots in DC running a even larger flawed system than Detroit.

 

The big 3 have been building what WE have been buying (think F150, Escalade, Hummer, Hemi).... Now that oil is up WE want more efficient vehicles, I am sure that they will switch what they offer based on that, but it takes some time.
The European and Asian companies offer vehicles that they sell in those countries and have had to deal with expensive fuels much longer than we have here in the US, so they are more geared for that type of vehicle. You can't blame everything on the big 3 management, we are the ones who have been supporting the gas guzzlers. AND, the Unions sure haven't helped either!