curious to see if anyone is okay to let the government to spend some of your tax $$ to bailout the "trashy 3" (formally known as the big 3).

 

 

i swore i would never buy a pos from the big 3

 

Welcome to the USSA

 

AFTER Chapter 11? Maybe.

 

Agree. After Chap 11 yes.

 

x 3.

:ibmovetoMoney&Investing:

 

We wouldn't buy their crappy cars so instead they're forcing us to just give them money to allow a bunch of overpayed laborers to continue to live an artificialy hightened life style and spend their days embarrassing America with their automotive abominations. I'd sooner pay them to wash my balls. Maybe we can work out a deal.

I'd love to see the look on Joe McCarthy's face if here were alive today.

 

 

Hell no. censored:madfawk:

 

No way.

 

n0thxkbaibaddy.

 

Do I have hearing problem, or am I too old to comprehend the daily news.....I "think" I heard GM wants to "BUY" (not merge) Chrysler, because GM ran out of money. Making Chrysler part of GM will allow GM to use Chrysler's remaining capital. Errr....? What's the financial logic here? You want to buy another company, because you have no money? Wow, what are people smoking nowadays?

 

^^

and to the ops question

 

thats deep.

 

The reasoning is probably beyond a layman's comprehension but sometimes things that seem obviously dumb are obviously dumb, like home values increasing 30% in five years, becoming nearly unobtainable to people of average means all the while pop economists were saying there's no end in sight. I was so bothered by it at the time that I was frequently searching Google news for "real estate bubble" to find some expert opinion to assure me that prices were bullshit and that houses would be affordable again some day (I wanted one) and I never got any hits. In that case what seemed to be obvious was the truth despite the experts saying otherwise.

 

 

That said, no citizen was in support of the first bail out and that still happened. Even if the current administration tells them to pound salt, I would bet heavily that the next will bail them out, after all the unions were big supporters of his campaign.

I hate to change the subject too much but if people think we're living in a Democracy they are sorely mistaken, which isn't a bad thing, but being fooled into believing we are is humorous.

 

If they go out of business, it's a lot of jobs...I'd say yes ONLY AFTER ch. 11.

 

There's plenty of other things that you don't know you're paying for, something like this would absolutely CRIPPLE the economy. Do you think it's fair that people commit crimes and you're paying for their jail time? The collapse of the big 3 will be a big domino effect. As much as people will bash them for not building products worthy of selling, they still play a huge role on everything that the US has become to be.

 

No. The banks shouldn't have gotten a dime, and neither should anyone else.

 

 

While it is true that the collapse of any or all of the Big Three would have a devastating effect on our economy, we can't just pour water into a broken tank. The Big Three is bleeding money, and they don't have any solid plans to stop the leak. They are just asking for more money to pour into the tank, but whatever we pour into it will just simply drain out as it is right now.

Just about the only initiative they have shown is this planned drive to the Capitol Hills, and that only came about because of the big hoopla about the executives flying in their jets. They are not proactive... never have been and never will be unless they reorganize and restructure. They have no plan for that right now.

If somebody came to you for financial assistance without a plan to turn things around, would you invest your money? I know I wouldn't.

I'm all for supporting the Big three, simply for the sake of keeping our economy from completely collapsing, but it's hard to say yes when they have no plan to turn things around.

Miserably incompetent and stupid is what they are. The management at these companies have absolutely no foresight. They laughed at Honda and Toyota for coming out with hybrid cars, but who's laughing now? When foreign companies were diversifying their product line-up, the Detroit Three kept churning out big SUVs. Whose fault is that now?

It's very simple. Everyone is faced with the same economic hardship. Some are doing horrible, on the brink of bankruptcy, while others are doing relatively okay. The Detroit Three can blame the economy all they want, but the fact is that despite the same hardship, other companies are doing okay because they had the diversified portfolio and the foresight to predict and endure this hardship.

They need to wake up and face reality. File Ch.11, restructure and come back.

 

^^^ Well said!

 

The only way I would ever agree to this ridiculous bailout is if they agree to remove most of the top management and have the UAW disbanded.

Otherwise, let them file for bankruptcy. They need it.

 

I got three little letters that sums up the biggest cause of the collapse:

U-A-W

 

fuck no.

 

There is a difference between letting them file for bankruptcy and them going away entirely. Let them file for bankruptcy which allows them to get rid of the UAW, the crippling pension plan, and reorganize the managements salary, then they can reopen and continue to produce the craptastic cars everyone loves to hate, but at a better profit. The loss of jobs would be minimal and they could restructure without the pressure from the UAW.

If you support the bailout, keep in mind, it is really a bailout of the UAW, not of the company, or of the economy. They have more to gain than anyone else from the bailout, and more to lose if it dosn't happen. For years they have refused to work with the companies they are employed by, and this is the result. Everyone knew it was going to happen, and they just didn't care.

No matter how innovative the cars that come from the big three become, they are never going to really be competative if they have to deal with an uncompromising UAW.

 

Get rid of them and their pension plans.


Oh and people knock the big 3 for crappy cars, (not every one can afford acura/bmw/audi etc..) They cant be that bad when they (GM) sells more than anyone else)

 

You think filing bankruptcy is going to get rid of the UAW? They are bloodsuckers, squeezing the life out of the company. Unions don't go away that easily..

Little different situation, short story, crippling results:

My father is in the undergarment industry. About 7-8 years ago he bought a mom and pop owned undergarment company, been around since the 40's and was among the biggest in the industry. Fast forward about 50 years, the husband/owner dies, wife hires her son in law to step in as CEO, milks the company and drives it to the ground. My father and his parters stepped in, bought the company and started restructuring. One of the things they HAD to do was shut down the union run factory they had in Puerto Rico because that was one of the major causes of the problem. They did this probably 1-2 years after stepping in because it took them a while before they could catch up in the mess. The Union forced them to shut down the company, which they had no choice because of the pressure they put them in, shut it down and now work under the original company name they had before they got involved in this company and merely own the licensing rights to the name, which they use on the labels for the stuff the manufacture. To this day the union is still trying to sue my father's company for doing this.

Unions? Great for employees, but terrible for business owners. :thumbsdow

 

File Chapter 11 and fuck the UAW.

 

Should we or should we not use our tax $ to help out the troubled 3?

I vote yes if GM gives out a brand new Corvette for each tax paying citizen.

 

Using that logic shouldn't the original bail out give every taxpayer a $60k credit towards their next home purchase.

 

How it should be done.
http://www.youtube.com/watch?v=fF6lx...layer_embedded

 

Absolutely.

Going into bankruptcy absolutely gives the auto industry the right to restructure without the UAW. Even if they choose to work with the UAW they get to start off fresh and restructure EVERYONE's salary and pension plan. The part that's really crushing the company is the pension plan, although the other perks don't help, along with the high pay for a relatively unskilled job.

 

 

Communism doesn't work. They will all inevitably lose their jobs because they put forth effort in an inefficient way. For every 1000 joules a Japanese auto worker puts out they produce more cars that people actually want and hold their value than for every 1000 joules a US auto worker puts out. How can that be allowed to continue any longer than it already has?

 

This reminded me of the story of Bugsy Siegel, a gangster who opened one of the first big casinos in Las Vegas on behalf of the mob, and when he ran over budget and asked the mob for more money and more time they didn't give him either, they had him killed.

 

Simple. Because we live in a country run by special interest groups, including the UAW.

 

I think people just don't want to see the quality of their lives drop so they're resorting to communist style policy to supplement people who will experience the largest decreases.