Auto industry to receive $17.4b bailout

  1. You have chosen to ignore posts from accountingisahabit. Show accountingisahabit's posts

    Auto industry to receive $17.4b bailout

    [Quote]Is anyone else worried that the people running this country have no idea what they are doing? The whole thing is ridiculous. So the Republican Senators didn't support the bailout and now the industry will get the money with none of the oversite that was attached to the bill in Congress...nice work! They will get a "loan" from funds that the Treasury Sec himself said he did not support giving and that were in no way intended for this use and this will help them until the spring maybe and then what? This is not a Republican/Democrat thing it is a leadership thing. I honestly don't think they know or care about the real problems just quick fixes for votes.[/Quote]

    Why don't you read about what actually happened? The majority of the oversight is still in place, but they decided a "car czar" wasn't necessary. In March, they will reevaluate the viability of these two companies and if it's determined that their not making the necessary changes, then the loans will be called which will result in immediate bankruptcy.
     
  2. You have chosen to ignore posts from whocares3. Show whocares3's posts

    Auto industry to receive $17.4b bailout

    "I do not like American cars anyhow. I have not bought one in 20 years."


    What an ignorant and dangerous comment. (Do you know what that kind of attitude does to our economy??) These days most of the cars made by GM and Ford are superior to Toyota and Honda.

    With all the FREE money (not a loan) the American government has given foreign auto makers, there was no way that Detroit could survive.

    Educate yourself and stop putting all the blame on the American automakers.

    http://www.businessweek.com/lifestyle/content/dec2008/bw20081212_127244.htm
     
  3. You have chosen to ignore posts from Jay862. Show Jay862's posts

    Auto industry to receive $17.4b bailout

    The Big 3 Execs should be presenting their cases for laons to the major oil companies that made record profits from the gas consumed by the
    gas-guzzling SUV's and other low-mileage monstirocities Detroit has been producing over the past 15-years. We've sold out our economy to the restoo fthe world already...maybe the Saudies would like to invest in the American auto industry.

     
  4. You have chosen to ignore posts from rvrdpm. Show rvrdpm's posts

    Auto industry to receive $17.4b bailout

    [Quote]Bush is an idiot and any plan he has tried to help the economy has failed 100%. If I was in the auto industry I would be worried about Bush's plan. Lame duck President he is.

    All of us taxpayers just lost our shirts on the plan. Why don't the CEO's of each of these companies be fired. They ran the company into the ground, while making millions and now they are crying for help. Screw them![/Quote]
     
  5. You have chosen to ignore posts from rvrdpm. Show rvrdpm's posts

    Auto industry to receive $17.4b bailout

    [Quote]Bush is an idiot and any plan he has tried to help the economy has failed 100%. If I was in the auto industry I would be worried about Bush's plan. Lame duck President he is.

    All of us taxpayers just lost our shirts on the plan. Why don't the CEO's of each of these companies be fired. They ran the company into the ground, while making millions and now they are crying for help. Screw them![/Quote]
     
  6. You have chosen to ignore posts from fishman1234. Show fishman1234's posts

    Auto industry to receive $17.4b bailout

    I am all for letting the big-3 go out of business (I have not bought an American car, well, ever....), but letting them just up and fail right now is NOT the best move for the US if we want to get out of this recession anytime soon. Just think, 1 or 2 of the companies go under...those employees lose jobs, cut back _drastically_ on their spending (they probably have already cut back, but now they would really cut back). What would that do to the larger economy?

    If they don't infuse themselves with new blood and become in-tune with the types of vehicles people ACTUALLY want to buy, then in 3 months they will fail and should be allowed to fail. Unfortunately, the current administration is not making them adhere to emissions or fuel efficieny standards (you can blame that on "W" because he still has to appease big oil).

    I do think that part of this is the union's fault. The union should be disbanded...end of story...I think it is an entity that has outlived its usefulness. I believe the union has been a problem throughout this whole process.
     
  7. You have chosen to ignore posts from rvrdpm. Show rvrdpm's posts

    Auto industry to receive $17.4b bailout

    Don't worry Mr ski,

    THE GREAT BARACK WILL SOON COME TO THE RESCUE.

    I can not wait...I am sure he will even cure cancer.

    Our world will be so much better when President Bush is gone and back in Texas.

    Friggin cool aide sipping follower
     
  8. You have chosen to ignore posts from brat13. Show brat13's posts

    Auto industry to receive $17.4b bailout

    [QuoteUnless congress does away with CAFE (Coporate Average Fuel Economy) the big 3 are doomed.[/Quote]

    Smartest post on the subject. Let them make the trucks they are good at making!
     
  9. You have chosen to ignore posts from WRADU. Show WRADU's posts

    Auto industry to receive $17.4b bailout

    when is my bailout coming??
     
  10. You have chosen to ignore posts from 50Otis. Show 50Otis's posts

    Auto industry to receive $17.4b bailout

    Bad-Bad-Bad and even worse.

    No bailout of the Big 3 and their overpaid imbecilic execs and out of control unions.

    No to the creditors and investors who let them all run amuck.

    No to all accounting and consulting firms that were part of the catastrophe that is the Big 3.

    But a big YES to protect the receivables of US vendors that have provided the parts for the cars in production.

     
  11. You have chosen to ignore posts from Meg49. Show Meg49's posts

    Auto industry to receive $17.4b bailout

    I am disappointed that taxpayer dollars are going to the auto companies. Sheer, unadulterated greed, stupidity, disdain for common sense and a don't-care attitude for common people have put them in the position they find themselves.

    For years they sold huge SUVS and trucks that ruin the environment and force greater dependency on oil, while clogging the roads of the country. For years giving pensions and other benefits that make a person rich in retirement. For years, putting profit and corporate pay above what is right. For years ignoring that foreign auto makers produce better and more efficient cars. This is corporate America and we should all be ashamed of it.

    I will call every lawmaker that represents me, once again, to express my complete lack of faith in our leaders. Any average worker making such huge mistakes, over and over again, would be fired in a heartbeat.
     
  12. You have chosen to ignore posts from MrSki. Show MrSki's posts

    Auto industry to receive $17.4b bailout

    As part of the bailout plan or loan, the 3 CEO's should be fired ASAP and given $1 as their severance package. In turn the auto industry will hire 3 new CEO's appointed by either the Auto Industry or Congress (if we can trust them to make an informed decision). No way should these 3 clowns still be allowed to run each company. They have caused enough damage as is and I see no way they can turn the industry around.

    Since we have been helping out all these other industries, then it is only fair to lump the Auto Industry into this plan to rebuild our economy. Especially since there are millions employed by the auto industry. It's not the millions of employees who screwed up but the so-called leadership of the auto industry. Keep the workers and fire management, then I am ok with helping out the auto industry.

    Bush is an idiot and he has caused major problems for the US and world. Another CEO who should be fired and receive no type of severance at all.
     
  13. You have chosen to ignore posts from macnh1. Show macnh1's posts

    Auto industry to receive $17.4b bailout

    Chapter 11 shouldn't be replaced with the US Government, Inc.

     
  14. You have chosen to ignore posts from dangr76. Show dangr76's posts

    Auto industry to receive $17.4b bailout

    wow, nice. we have soldiers who are injured and cant get medical help from the government but we can bail out the automakers because they run their business with no sense they will be held accountable. they just lay people off and then ask for a bailout.
     
  15. You have chosen to ignore posts from QOTU. Show QOTU's posts

    Auto industry to receive $17.4b bailout

    [Quote]Bush is an idiot and any plan he has tried to help the economy has failed 100%. If I was in the auto industry I would be worried about Bush's plan. Lame duck President he is.

    All of us taxpayers just lost our shirts on the plan. Why don't the CEO's of each of these companies be fired. They ran the company into the ground, while making millions and now they are crying for help. Screw them![/Quote]

    Couldn't agree more! They're just using the money to give themselves bonuses, just like the Wall Street fiasco. Gee, where is $350 billion of that $700 billion dollars? It's gone! Into their pockets! America, wake the h&(#ll up!
     
  16. You have chosen to ignore posts from bobopeelot. Show bobopeelot's posts

    Auto industry to receive $17.4b bailout

    Big 3's train left the station 20 years ago. Their only long term solution is BK with massive downsizing and labor reforms or aquisition by one of the competitors. 20 years of stanky cars and grossly overpaid humans doing the work of robots has sealed the deal.
     
  17. You have chosen to ignore posts from lnmonster. Show lnmonster's posts

    Auto industry to receive $17.4b bailout

    Anyone bother to think WHY Bush might be doing this? It's not because he thinks it's the right thing to do. It's because neither he, nor anyone else (including me and everyone else on this board) knows what the right thing to do is.

    It could be that Chapter 11 would be the best thing to happen to the Big Three and the economy as a whole. It could also be that it would send the US economy into an abyss, perhaps with the world economy following suit.

    But we don't know. No one knows, because nothing like these economic conditions have ever happened before. I heard an economics professor at Harvard (formerly assistant director of the WMF and world's youngest chess grandmaster) advocate trying EVERYTHING, because we have no idea what will work. If one of the smartest guys on the planet freely admits he is at a loss for a solution in a field he has studied his entire adult life, what chance does Bush have, or any of us for that matter?

    So Bush is bailing out the car companies because he doesn't know what will happen if he doesn't. And you know something...it's about time Bush stopped being so smugly confident that he had all the answers and did something responsible for a change.
     
  18. You have chosen to ignore posts from trottier. Show trottier's posts

    Auto industry to receive $17.4b bailout



    Oh the weather outside is frightfull, but the big 3
    bailout is delightful, lets it blow let it let
    let it blow. here come suzy bailout, rumbling
    and tumbling down, knock knocking at your
    window pane, to let you feel down. It came upon
    a daylight clear, oh come all ye taxpayers, no
    comfort or joy. I saw santa bush kissing gm and
    ford and chysler under the mystltoe. There must
    of been some magic in the silk hand the big 3
    wore, for when they put on there heads, barney
    franks says, do you want even more.
     
  19. You have chosen to ignore posts from MarieOnCape. Show MarieOnCape's posts

    Auto industry to receive $17.4b bailout

    Meg49-1 says; "For years they sold huge SUVS and trucks that ruin the environment and force greater dependency on oil, while clogging the roads of the country."

    So we are blaming the automakers for our actions now? If we weren't buying all those SUVs they wouldn't have been making and selling them. (As they are shutting down the plants that make them right now). Who forced us to BUY these things? No one. The automakers also made smaller more efficient vehicles - at a lower price - but most of us bought the big expensive trucks and SUVs. So since it was all the taxpayers bought these things, it is THEIR decisions coming home to roost so maybe it is isn't unreasonable that they accept some of the consequences of their actions. Yes, I will be paying for this too if they default on the loans although I never bought a truck or SUV and have suffered their affects on the roadways.

    Even if they had been able to predict the future I wonder how many people would have kind words for the automakers had they said something like: "Sorry I know YOU want to feel safe and secure driving a larger, taller, all-wheel-drive vehical, but we've decided we've sold enough of them for the year and your neighbor got the last one with all the room for her kids. Since we know what is better for you than you do we've decided that we are going to sell you a Focus instead. Really, you'll thank us in 10 years!" when they went to buy that Ford Explorer or Expedition and were told they couldn't have one.

     
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  21. You have chosen to ignore posts from hippydippy. Show hippydippy's posts

    Auto industry to receive $17.4b bailout

    We, the taxpayers must be crazy, there doesn't seem to be any disagreement between our government, our largest broke companies and our paperdoll banks. They all seem to see things clearly. Drain the accounts of America while you can, and then move out of town.

    Auto Execs... "Ah, can we get that 17B in Swiss Francs please?"
    Mr. Bush... "I wouldn't dream of giving you anything else buddy? See you on the other side."
     
  22. You have chosen to ignore posts from ramblinman1s. Show ramblinman1s's posts

    Auto industry to receive $17.4b bailout

    whhhhhaaaa... I don;t like george bush... whaaaaa!!!!

    dude can;t win - the detroit bailout is somethin all librals wanted and was blocked (and rightly so) by the repubs in congress because the UAW still thinks they deserve 50% more pay than its forign competition (which do not require bailout money becuase the pay theor employees what they deserve)... So he goes against his party and the commies in this state get mad at him for doing what they wanted him to do!!! I love it! Guy could cure AIDS and cancer in the same day and you would become pre AIDS and Cancer right away/ "well... AIDS is prety bad, but since Bush got rid of it it must have been good... bring back aids!! impeach bush!!"

    I am guna be so bored after he leaves office. I suppose these threads will all be filled with people gushing over the chosen one though, so that should provide me with at least some entertainment.
     
  23. You have chosen to ignore posts from MarieOnCape. Show MarieOnCape's posts

    Auto industry to receive $17.4b bailout

    [Quote]Dumb decison. Let the free market rule. If they go under somebody else will take them over and maybe make it better. I do not like American cars anyhow. I have not bought one in 20 years.[/Quote]

    Yes, that does sound like an expert opinion. I haven't had a product in 20 years but I am sure I don't like it. The assumption being nothing has changed in 20 years? Even Consumer Reports and JD Powers have indicated that overall quality of all cars, including domestic, have risen over the years and in some cases are equal to or better than imports.

    One of the problems the domestic industry has is that even when it makes a very good product there are still so many people who "just know" that they can't, they can't get past the perception because people won't even look being so sure of themselves in spite of the changes that have occured.

    Please, I understand a model for model perference. I understand if someone says the domestics really don't make anything quite like a Mercedes S550 or a Mazda Miata or a Honda Fit, or someone saying after careful consideration that they really prefer the Toyota Avalon to a Buick Lucern. But to make a blanket codemnation based on 20 year old data and then turn aournd and blame the automaker for that dated opinion seems somewhat unfair to me.
     
  24. You have chosen to ignore posts from Worried2. Show Worried2's posts

    Auto industry to receive $17.4b bailout

    [Quote]

    Why don't you read about what actually happened? The majority of the oversight is still in place, but they decided a "car czar" wasn't necessary. In March, they will reevaluate the viability of these two companies and if it's determined that their not making the necessary changes, then the loans will be called which will result in immediate bankruptcy.[/Quote]

    Unlike most of the law makers I actually did read what "actually happened". So Henry Paulson acting as the designee of the president is now going to be in charge of deciding whether these companies are making the changes necessary to be considered viable...? Until of course Obama replaces him with someone else just as qualified to analyze the viabilty of these companies. Yea that should work out well. Does anyone think that anyone in that position is going to say they are not viable, call in the loans and single handedly take down the industry??? It is a joke. The only purpose of this loan is to delay the inevitable until after January 20th.
     
  25. You have chosen to ignore posts from vermontroller2. Show vermontroller2's posts

    Auto industry to receive $17.4b bailout

    yay! socialism for the rich. the american economy is doomed.
     

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