What do you think of buying out the automakers?
 

Because Jeep is here in Toledo and is such a big employer, the president of Chrysler was in town yesterday. It was all over the news. Seems the big car companies are wanting the government to bail them out like they did the banks a while back.

What do you think about that? Good idea? Bad idea?

I'm really very, very torn about it.

On the one hand, I know alot of people who work for Jeep, Pontiac Motors, Buick, etc. and I know the kind of money they make. It's a very good wage! and in most cases, their benefit packages are better than most people I know who have alot more education. My brother's wages and benefits at Jeep are far above what Walt can make anywhere around here as a Civil Engineer. Actually, his benefits are better than my friends are - and she is a pediatrician!

I'm not saying that we should ask people to work for nothing, but I do think that the unions have brought some of this on by their continual demands.

On the other hand, our country is SO dependent on the auto industry, that to let them sink will be a huge mistake. If the auto industry goes down, it will affect so much more than the auto industry. It will affect all the suppliers to them, of course. And when all those people lose their jobs, it will affect the housing/building industry. And the retail markets. And then it will just keep trickling down. Even Walt's job will be affected. If people aren't paying taxes on the big bucks, then cities won't have money to do things like build new roads or new water-treatment facilities.

So what do you think? Should we bail them out? Do we even have a choice? What kinds of demands do we have a right to make on them if we do bail them out?

Re: What do you think of buying out the automakers
 

The Auto Industry in Canada is probably the biggest private employer around.
I am torn as well.

Part of our Constitutional Crisis before us is because of the Auto Industry problems.
The Government is waiting on how the US proceeds & is in talks to possibly do something together.
They have asked for a plan to be put forward on how they intend to get back to profitablitity which is fair.

The opposition is crying, "the sky is falling, spend money!"

Re: What do you think of buying out the automakers
 

Here is an article on other avenues to rescue the Big three!

http://finance.yahoo.com/banking-bud...-Save-Detroit?

Re: What do you think of buying out the automakers
 

While I am, in principle, opposed to the socialist agenda and public welfare, I must say that I am very conflicted right now. I've been watching this very carefully lately as I am employed in one aspect of the auto industry. As an employee of Bridgestone Americas, the OE tire business makes up a large part of our revenue stream. To lose such a large part of our business would certainly impact me in some way.

Re: What do you think of buying out the automakers
 

If we do it, I say we take control and adjust pricing of cars to reflect simple cost without turning a nickel in profit. We keep the people employed, we dramatically slash the price of cars making them much, much easier to purchase...generating some sort of stimulus and keeping some money in our pockets.







Or at the very least have some sort of strict provisions in place :)

Re: What do you think of buying out the automakers
 

I don't like it. If I need to be bought out, I know they wouldn't do it for me.

Re: What do you think of buying out the automakers
 

Where will it stop? Eventually the government will own everything and you will have to have your number to buy anything. HMMMM what does that sound like?

Re: What do you think of buying out the automakers
 

I'm conflicted..

1. if they fail, the trickle down effect will be devistating on the economy. All those out of work, the related industries effected - huge impact.

2. they should have been better prepared for this. It's not the governments fault to bail them out now that the economy is tanked. These bailouts are not free money, we WILL pay for it eventually. The automakers should have been better stewards and somehow prepared for this.


About the other bailouts - dont get me started - it is not the governmnents responsibility to pick up the pieces after bad business decisions. This falls back squarely on the sholders of businesses who made bad decisions and consumers who borrowed above their means - who were suckered b/c they are not informed consumers.

Where is the responsibility? The government isnt taking any, for one it's not their fault - sure you can say they should have forseen this and regulated things differently but please, this is washington we are talking about.

Folks should have to suck it up and deal with the effects of decisions they made (Business folks that is)

it just really hurts those of us who lose our jobs b/c of the fallout - and in turn lose our houses, our cars - risk getting thrown out on the streets - surviving with no electricity etc....

I dont know what the answer is....

Re: What do you think of buying out the automakers
 

I'm not torn at all. If they can't make it and have made bad business and product decisions, then they have no right to exist. If they have let the unions run them into the ground, they deserve it. Unskilled labor is only worth so much. When it gets over inflated, the same thing happens to it that happened to the housing market. I say let the economy run and keep your hands off of it. There is ALWAYS a demand for goods and if the American worker can make it better and at a fair price, people will buy it.

There is nothing but politics that forces us to allow anything from overseas into the US. I price shop and shop for the best quality at the lowest price. If that means I have to buy foreign, then so be it.

I can't ask the government to bail me out when people leave our church if we're not willing to minister to their needs. :D My stand may not be popular, but there it is. :D

Re: What do you think of buying out the automakers
 

Ditto

Re: What do you think of buying out the automakers
 

I think the auto industry needs a reality check- Concession need to be made by the unions, and management. If we bail them out there need to be provisions in place for them to do business differently, make more cars that would move us away from dependence on foreign oil, more efficient cars, and less expensive, more reliable cars.

Re: What do you think of buying out the automakers
 

Exactly.

And none of them will go bankrupt in the sense that they cease to exist (chapter 7 I believe?), but rather they will be FORCED to reorganize and either come back or be acquired by other automakers.

Re: What do you think of buying out the automakers
 

zactly! That is how I feel about all the bailouts. Sure it would hurt. But they would restructure and come back meaner and leaner AND more affordable to the end consumers.

Re: What do you think of buying out the automakers
 

This is where you and I disagree, I think the unions do demand more than they should. These unions are just as much at fault as the corporate management.

Re: What do you think of buying out the automakers
 

I agree that concessions need to be forced. The unions have gotten way too powerful and greedy!

But I also believe that HUGE concessions have to be made at the management end. I was appalled when those fat cats in the banking industry did what they did after being rescued by the government. That should never happen again!

Re: What do you think of buying out the automakers
 

Post of the thread. Good point, and I agree.

Re: What do you think of buying out the automakers
 

Reread what I said. I never said the unions were not at fault. I said they are way too powerful and too greedy. I think unions served a purpose when they were first formed. But I think they've been a huge millstone now. Hanging them on the necks of the American people, we are all going to sink if we don't get them off of us. Soon!

Re: What do you think of buying out the automakers
 

Absolutely NO bailout!

So they go bankrupt. What happens?
They restructure, they go leaner and more efficient, we buy pickups previosly priced at
$38,000 for $28,000 and the guy who cleans toilets for GM for 20 hrs a week but gets paid 30 bucks an hour for 40 hrs a week starts getting paid what he's worth.

I think all unions should be banned.

Re: What do you think of buying out the automakers
 

I think we need to look into buying a horse and buggy.

Re: What do you think of buying out the automakers
 

My prediction is that they will get the bailout money.
They'll make promises to reform and clean up their act
but things will continue on just as they are.
No one (union members, retirees, management) will lose anything.

Re: What do you think of buying out the automakers
 

Though I don't like seeing anyone lose their job, I am against the bail out for the Big 3.

FORD has been building cars that get 40 mpg to market to Europe for some time now, but they have done their own countrymen dirty.

But if they bail out the Big 3, then I want the Big 3 to be producing and marketing, in mass, electric, natural gas or hydrogen fueled cars by 2014. There must be no way legally for them to be able to renege on that requirement either.


This is definitely feasible. Hopefully, our lawmakers will hold their feet to the fire-- if they make the mistake of bailing the Big 3 out.

Re: What do you think of buying out the automakers
 

There's a part of me that wishes that it was not an imminently outgoing Administration and Commerce Dept. spearheading this. It makes me kind of nervous and suspicious of shenanigans when you won't have to be there when it all plays out.

Re: What do you think of buying out the automakers
 

TStew, your naivete shocks me!

Anything bad that happens for the next 4 to 8 years will be President Obama's fault.

Anything good that happens within the next 4 to 8 years will be a reflection of President Bush's wisdom!

You should realize this already! How long have you been a Republican?

:)