Should the Big 3 Automaker be bailed out?

[Mighty Thor]

This has been in the news lately that the big 3: GM, Ford, Chrysler, are in danger of closing down. They've asked the government to bail them out.

Here's the thing: 1 out of 10 jobs in the USA are related to these 3 Automaker. So if they close down the job lost would be across the board or a domino effect of job lost would happen. What do you guys think?



Now this a discussion base on your opinion so let's keep it civil and mature.

[96RS Alex]

Re: Should the Big 3 Automaker be bailed out?

A resounding YES.

I want to see the 5th Gen Camaro survive along with the American aftermarket companies that will support the new models fuel efficiency, appearance and power upgrades.

A no vote will make imports win and do we want that? Ask yourself.

China is already aggressively rolling out new models in Latin America as theyre testing marketing conditions to win over US vehicle sales.

A bailout would reinforce the Big 3's R&D for future high performance vehicles we may never see.

[Firebirdkid96]

Re: Should the Big 3 Automaker be bailed out?

There would be no American Economy after they filed Bankruptcy.

[Mighty Thor]

Re: Should the Big 3 Automaker be bailed out?

You see I'm stuck on the middle of this. If I say yes then that means GM, Ford, and Chrysler old business practice won't change. In a couple years later they'll still be stuck in a rutt.

If I say no there would be a tremendous job lost, but it will give the big 3 a chance to restructure itself to be even better. But the problem with this is consumer confidence.


I just found out yesterday that the top pay for GM employees is $73 an hour. While Toyota, Honda, and Hyundai pay tops at $43. eeehhh

[vanbibber]

Re: Should the Big 3 Automaker be bailed out?

yes, but the government should force the UAW out of the picture.

[Meatyshells]

Re: Should the Big 3 Automaker be bailed out?

^^^what he said the UAW is what causes a lot of the problem.
You think any of the foreign car makers have to deal with that crap?

[vanbibber]

Re: Should the Big 3 Automaker be bailed out?

no, and they provide alot of the same benefits to their employees and theyre paid pretty well to boot.

[00FlowCamaro]

Re: Should the Big 3 Automaker be bailed out?

I just don't see the point of making tax payers pay more and try to bail these idiots out. Seems when companies go under we have to bail them out and not their multi million dollar employees. I say if all 3 go under, only bail out 1 or 2, don't make it 3. You pay them money for the bailout and they will spend it all on advertising and none to make them more financially secure in the future.

[sac2165]

Re: Should the Big 3 Automaker be bailed out?

Y'all are missing the big picture - - If we were ever in a big war, the country would need large auto manufacturers to retool for war production. We will not loose our big manufacturers.

[cam98aro]

Re: Should the Big 3 Automaker be bailed out?

There would be no American Economy after they filed Bankruptcy.

too bad most people dont realize this

[nitetime_pr]

Re: Should the Big 3 Automaker be bailed out?

The big 3 have severe issues with incompetent management, a bailout will not resolve this. The UAW is complicating and making matters worse, not better. Filing bankruptcy allows the big 3 to restructure (trim the fat) and that is what is needed if they are to remain competitive.

[PalmHarborBlkv6]

Re: Should the Big 3 Automaker be bailed out?

I would remind you that Mercedes, BMW, Volkswagen,Ferrari,Cooper are all UNION
shops...yes, that's right (In Europe). The wages of line workers at GM is been reduced to about $16 per hour per the new Union agreement. The Union did not decided to build primarily heavy, big gas guzzlers... 85% of Buicks are bought by retired people!
In 1984 I earned $100 for two be in a group to evaluate three European made Opel
cars. The study was funded by GM. They had us drive and evaluate a nice convertible,2 dr coupe with sunroof, 5 speed and a bland generic looking four door sedan.The first two Opel's were great, the third was well ...bland and nothing I would spend money on. I said that in my written report exactly that. I predicted that GM
would bring in the 4 door and within 6 months they would be offering rebates
to get them off the lot. Well that is what happened. They took the parts and
sent them to Korea and assembled them there and sent the car to the Pontiac
dealers as the new "LaMans". Well they did not sell and ended up giving rebates
to clear them out.
GM management has poor judgement....simple...the president...Wagner makes
9 million a year for making decisions that put GM in bankruptcy.
The enclosed picture is an Opel sold in Europe since 2001, that is 4 cyl....goes like
hell for under 29K. GM could have brought cars like this to the US but they
chose to invest money in bland cars like Buick, Chevy, Pontiac etc.
Give Wagner billions and he would probably put opera windows and white wall tires in all the 2009 cars.

[DAS BOOT]

Re: Should the Big 3 Automaker be bailed out?

I dunno....

Depends how they restructure. Doing a full chp 11 restructuring would likely get rid of the UAW, but how will it hurt the reputation? Will they their sales plummit even further?

I haven't decided which will be better overall financially for everyone.

[PalmHarborBlkv6]

Re: Should the Big 3 Automaker be bailed out?

You just don't get it. The UNION does design bland, fat, thirsty Buicks etc.
Conservatives always want to do away with Unions. Well I live in Florida
a "right to work" state. Here U have the right to work for low wages and keep
your mouth shut. Here $10 an hour is considered middle class and we have
an 8% + unemployment rate. Read your history, the first thing Hitler did
after he came to power is desolve all trade unions. He did this for his corporate
supporters like Braun, Daimer Benz, BMW, and others.
Lutz was brought to GM some years ago to re-do GM and he decided the way to
profitability was: 12 Cyl Cadillac, 700 HP Corvette, that retro Chevy pick-up
and continuing to make cars that still looked like GM cars of the past 15 years.
That clearly did not work and now the V-12 Cadillac is dead and the 700HP
Corvette is dead and that poor selling retro pick up is dead.
I guess you did not know that when GM and Ford first started to organize, GM
hired professional goons with guns to break up strikers and some workers
were killed.
Just think....what if the new Camaro looked like a Lambo or a Ferrari....how fast would they sell? What if they built a 4 cyl Corvette and called it a City Corvette...
as most speeds in Cities are under 50 mph anyway...but it could get good mileage.
These guys only know the old ways and they need to go retire to a $5,000,000 estate in Palm Beach and play golf all day until they choke on a $30 cuban cigar.

[3.4 slow to go]

Re: Should the Big 3 Automaker be bailed out?

nope. otherwise where will it end? plus a "bail out" will only last until they come begging back. the airlines have already been bailed out, banks, how soon before boat manufacturers need abail-out? what will happen when the commercial realty hits the squirts & suddenly needs a bail-out???

sac, the days of rosie the riveter are gone, in case of a big war, you'd be going to the defense contractors to help out, not any car maker.

also, back to bail out money, 3 questions:

1) what gave the government the right to forse the banks to sign the papers to get the money?

2) as a way of gettign back, what rules do banks have to follow (or not) after getting the money? (AIG gets 2 bail outs, what about others?? why discriminate?)

3) what steps are in place to get gov't OUT of the bank business (if) after the "loans" are paid back???