Why doesn't Congress let the market solve the problem for them? let the Big 3 file Chap 11 or 7 or force them to sell assets like plants to the Japanese and anyone else who wants to open a plant in the US. Honda, Toyota and Nissan own transplants here and the quality is equal if not higher than at the dometic plants. I don't think the problem is the workers, it seems to lay squarely on management.
It seems that the law makers and GMAC have forgoten that the individual bond holders are also auto buyers. After the recent shifting of GMAC's institutional creditors to a higher order of seniority versus the individual investors I will never buy a GM product again --- nor use GMAC for any other form of financing. I suspect I am not alone as an investor/car buyer.
hi
the way we are looking at this big problemof car makers is totally wrong.
1) it is not fair to ask to work them for less pay or ask them to not to travel in jets.
2) all govt. needs to do it ask them how much loan they want ?
3) in how many yrs they want to pay back ?
4) what interest rate should be for first 3 yrs, then how much , then how much interest rate, in short devide it in slab of 2 yrs each.
5) after they get the loan 1 st 6 months there will be no loan paying back, but they must start paying back soon after that every month with interest.
6) now what ever every body is making now should continue to make the same ,if after a loan and after 6 month once they pay of their instalment of loan devide it in the same propertion , they are making now.
7)so simple if after 6 month , the remaining money is (profit - loan installment ) all theirs to divide them selves .
natu ex professor
retired professional engineer
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Let them go down, then maybe some new inovative designers can finally come forward and recreate the "wheel"! These dck hds should have been creating alternative fueled vehles a long time ago but all they have are dollar signs in their eyes. "oh pees mr congress, bail us out of our stupidity, oh pretty peeees"...
ha ha if the government give them all this money it will be us taxpayers paying for it! the auto companies overpay their workers especially upper management, and they way overcharge for new vehicles as it is, no wonder people aren't buying them 20 grand for a lousy pontiac grand am give me a break. the average person can't afford this. let them make some real cars like they did in the 70's and charge a reasonable price for them and their sales would go up.
the big 3 are nothin' but a bunch of "kaka-mimies"...just simply take all of their holdings ,leave a couple of bucks in their savings just enough to go from day to day ;the rest of all their combine "monies" should be enough to pay for their own loss, and then ask them what do they need a bailout for!!!!problem solved,case closed!!!!
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