We need a people's car (VW). Chrysler dropped the short wheel base 4 cylinder Mini-Van when the people need it the most. No forward thinking on their part. Should have forced higher fuel economy
standards 5 years ago!
I also agree with Paulson. In all honesty, the only reason teh banks even get bailed out was because most of those crooks in Gov't had thier hand in the cookie jar... and it's the same here. Most of the Congresspeople that want to bail out the Big 3 get campain contributions from the Union and Comapnies. Not only that, but, we've bailed them out before, fat lot of good that did.
Give the entire $25 to Tesla Motors and let them perfect their technology. At least they have a product that relies 100% on the alternative sources the politicians keep pushing for. I expect all of these promises to go empty and the $25 billion go up in smoke (literally) if Detroit gets its hands on it. FIRE ALL EXECUTIVES at GM and install a team that will get the job done. And it's not the workers fault...oh my mistake, yes they share the blame as well, but they ultimately don't make the decisions to lead the industry into a black hole. Shame on you Rick Wagoner!!!
let em do what all the other businesses do...file for chapter 11 protection, reorganize, and return with a restructured company. Many companies emerge from similar situations stronger then before. That's what a free market is all about.
About half the top exectutives should be gone, and the rest should agree as a condition to the bailout to limit their pay to two times a normal hourly worker before there is a bailout.
40 years ago I asked the CEO of GM why they did not make small 4 door commuter's cars, and he responded in wrting that GM makes cars that the Americans want to buy, that is, large comfortable monsters. Well Toyota came in that vacuum and took over the market. Now they want our money to make up for their stupidity and greed?
No.
Or - make ONLY hybrids and sell at an affordable price, not one that costs 10,000 more than it is worth or more than it can save you. So, let the US give every buyer 5,000.00 for every hybrid sold in the US and for which GM, FORD or Chrysler give the buyer $5,000 to match, so that the car costs no more then $12,000 US dollars. That is a bail out.
This will provide for constructive subsidy to companies that are willing to invest in their country and their own future. Not just a handout.
I agree there should be strict conditions on giving loans to the big 3 auto companies. Reality is this is not just a Michigan problem.Letting it all be broken up or worse if refused help would be a disaster and would cause a domino effect hurting the entire country. This problem involves directly at least a million and a half people over several states.It also involves suppliers and the businesses where all of these employees spend their pay. Shut these companies down to the extent bankruptcies would inevitably cause and it would literally put entire cities into poverty within a year.That many people not spending money would be very notable. In many ways the people who run these companies made big mistakes.This credit crunch made these situations go from problematic to dreadful. That is the fault of the de-regulators. Republicans are calling this auto bailout welfare. What are they calling the money they're giving to Wall Street?
“The rich shelter their money offshore, so the poor have to take the brunt. ”
“Wont work. At some point we are counting on the army to back its people. Not the generals but the …”
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