Bailout The American Auto Industry - The Blog Report

[ThisIsAntiWhiteHell]

But if I tell that obvious truth about the ongoing program of genocide against my race, the white race, Liberals and respectable conservatives agree I am a naziwhowantstokillsixmillionje­ws.

They say they are anti-racist. What they are is anti-white.

Anti-racist is a code word for anti-white.

[ThisIsAntiWhiteHell]

How long would it take anyone to realize I’m not talking about a RACE problem. I am talking about the final solution to the BLACK problem?

And how long would it take any sane black man to notice this and what kind of psycho black man wouldn’t object to this?

[ThisIsAntiWhiteHell]

Everybody says the final solution to this RACE problem is for EVERY white country and ONLY white countries to “assimilate,” i.e., intermarry, with all those non-whites.

What if I said there was this RACE problem and this RACE problem would be solved only if hundreds of millions of non-blacks were brought into EVERY black country and ONLY into black countries?

[ThisIsAntiWhiteHell]

Everybody says there is this RACE problem. Everybody says this RACE problem will be solved when the third world pours into EVERY white country and ONLY into white countries.

The Netherlands and Belgium are just as crowded as Japan or Taiwan, but nobody says Japan or Taiwan will solve this RACE problem by bringing in millions of third worlders and quote assimilating unquote with them.

[SAVETHECHILDREN6592]

You might be threatened with a pro-white message, but you really shouldn't be. Normal whites believe all races have the right of self-determination and the right to maintain racial integrity.

[7514328]

I purposely bought a Toytota and made sure the salesman was oriental. The orientals never lie and never need a bailout.

[malumalumalu]

zennie you seem like a smart guy but your economics is completely off. I used to think like you until I opened my eyes to Austrian economics. These guys are the only people to whom the current crisis came as no surprise. It is true economics and scientific. The auto industry has to fail. The economy has to collapse. This is the only way out. GOvernment policy will only prolong the pain. We have been through too many excesses over the past few years and market forces are now trying to cleanse us.

[joehavishnu]

dude are you like 13? you need to grow up and read the bible

[malumalumalu]

I take it you're spiritual, and have a heart...which is good. I have nothing against that. The free market is the poor man's best friend and only hope. Unfortunately however without some pain, there no gain. That is the extent of the crisis we've dug ourselves into. I wish there was such a thing as a 'painless' unwinding of this bubble. But unfortunately, deleveraging involves pain. I for one would rather take the short term pain now, and provide a better future to you, myself, and our children

[Darusdei]

mentioning europe and comparing "what are they doing better" is just asking for a shitstorm... you get idiotic kindergarten answers like "they are socialist and they are actualy doing everything wrong"

you've probably already seen it on some news... "obama is turning america into sweden" like it would be a bad idea.

the truth of the matter is other western countries are doing things much better than the states but all you hear from the US media is pro-america propaganda

[WeedaPeople]

You would have thought we had learned our lesson with loans after the mortgage crisis.

People who can not pay back loans should not be loaned money. Does ANYONE honestly think the car companies will pay back "loans"? Does anyone honestly think they will ever be in a position to do so? I don't....no one else with a brain does...so how can we GIVE them money knowing it will never be paid back and knowing they will just ask for more? Time to cut our losses and move on.

[WeedaPeople]

So you propose we save the car companies just because they provide jobs, even though they make crappy, overpriced cars... Typical Liberal gibberish.

First, you have to get the unions out of the car companies and allow the companies to lower wages to a FAIR value, and lower the prices of the cars to make them competititve. Then you have to make sure the cars are worthy of purchase.

When the toilet fills up with crap, eventually you have to flush the turds down the drain.

[SPFrobber]

I have seen this guy somewhere with flowers and soap, funny that

[5538560]

wanting new friends

this video was good jq

[twylightsky2007]

We've been destorying our manufacturing for years. It has only now finally affected the automakers. Shoes, TVs, even basic steel industries have fallen flat. This isn't something new and the PROBLEM is not the big 3 but how poor americans are and the REALIZATION of that to the rest of the world. We are in a state of hyper deflation that is being countered by massive inflation from the goverment. IN the end it is a disaster that will run it's course reguardless of a bailout or not.

[curiouskatt]

I like the way you think, will you run for congress?  you have my vote!!!! you are the smartest person i have ever seen on youtube and the bubetube. keep the videos coming

[polygamous1]

WHO cause the credit crash? the people who control n print u r money they print n control the money supply in the us economy n can n do cause booms n ressesions at will to benefir themselfs YET its ok for $700 Billion for the greedy bankers BUT not an industry that produces for the country n its people the bankers caused the economic mess n they got paid $700 billions for it wake up they have fuck up america they care for NO country but their pockets

[ProspectStudios]

I believe the source of the problem goes back to mortgages, not the car industry or the bank industry.. ALL INDUSTRIES ARE IN TROUBLE Why? We cant pay our mortgage! It won't mater if you make a better car, nothing will make someone who broke with bad credit buy a car unless one can trade in their up-side down mortgage for a new car, probably one they can live in... other then that, fat chance! so $25 billion, or whatever it is now will just go down the pockets of CEO's and outside U.S.

[chimpolives4ever]

"allowed to collapse" ? There is no allowing it to collapse, it WILL collapse. It's just a matter of when. No bailouts of any kind will save them.

[deepseadirt]

a long time ago America used to have an auto industry that was more than just Ford, Chrysler & GM.

here's a list of some of the best companies & cars America ever made:

Mercer

Pierce-Arrow

Packard

Peerless

Marmon

Just Wikipedia some of these and see why these wonderful companies went under. You'll find it's some of the same reasons the Big Three are facing now. You wouldn't go wrong if you summised GREED being a part of the problems.

[zardcat1111]

I like how people are making a big deal with this when the situation is very simple: GM, Chrysler and Ford are failing because of a bad product. It's like saying that I'm going to invent something that no one wants and demand that someone pays me for it.

[jsmallwood2007]

Thats all fine and dandy to say the big 3 need to be "saved"......let the owners dig into their massive holdings and offshore accounts for a change rather than throw taxpayers money at it,sell of a fue of their private jets....they are holding the working man ransom again...bailout after bailout this has to stop

[RMCHRGR88]

The American automakers give the world such amazing, beautiful cars like Challengers and Corvettes, and this is his how they are rewarded? This is disgusting! Innocent, hard-working people are losing jobs and people who buy imports are to blame.

[PurpleLambo3]

I agree with the Challenger and Corvette, but they also waste money on making hybrid versions of the Tahoe and Escalade. The hybrid version ups the mpg only 2 miles!! TWO!!! They should be making more hybrid versions of small sedans and coupes. They need to make cars that look better. cause then we will buy them. we buy the imported cars because they look better. i agree with the job situation but they need to make better looking and more fuel efficient cars and they will be fine.

[betatalk357]

The corvette and Challenger being amazing, beautiful cars by innocent, hard-working people? The Challenger cost $45k; the Corvette costs $100k. Those, like SUVs, are too expensive! Who the hell got money to waste on those things OR to be more exact, HOW MANY CUSTOMERS CAN AFFORD IT WHEN THE AVERAGE WORKING MAN ONLY MAKES 50 GRAND A YEAR???

They're being rewarded by not selling those cars because people CAN afford Hondas, Toyotas, Scions, etc.

[RMCHRGR88]

Good quality American autos dont cost that much if they are used. I own an American SUV (used) and I love it! If I can drive one, anyone can. At least I'm not to blame for people losing jobs. And for those who do buy new, but dont make much, there are always Sebrings, Malibus, and Fusions that are every bit as good as a Camry. I'm just telling it like it is.

[coandcaiv]

the malibu alone cant save an entire company....every other model that chevy has out isnt as good as honda, they need to make ALL their cars as good as the malibu...not just 1.

[countbelchula]

Let's not bail them out but do as they ask and give them a loan to retool for the stupid cafe standards that our government wants in place and they said they will pay back the loan in the year 2011. Let's not make government bigger than it already is. Everyday we take a step forward to Socialism. let's keep America a country of where the companies run themselves and not the government.We've all seen what happens when the government takes over and runs something, (Social Security, Medicare,).

[countbelchula]

Palin is all over the news cause she is setting herself up for the 2012 election .I'm tired of seing Obama's ugly mug on every magazine rack at the store.I know that bothers you cause by this time in 2012 Obama would have pretty much Socialized American and our economy will have either collapsed or near collapsed cause we have bailed out everyone including my niece's lemonade stand on the corner. Enjoy your victory, it's gonna be a short one. Obama will be lucky to to finish his first term. L8R

[BomaBoi]

How do you plan to protect our own people when what you are insinuating will result in our economic collapse?! Our government has NO MORE MONEY. With $53 TRILLION IN DEBT we can no longer afford to bailout huge corporations when it is their fault that they are in a predicament. With the big 3 out of the way, other automotive companies will rise to power. Hopefully with better hindsight.

[jerzjt]

compare a malibu and camry side by side and show me the quality gap! It doesn't exist. Both cars built here in the USA (nice try though, whiskers). Don't be sheep - do the research on your own. Also Toyota CAFE (corporate average fuel economy)has gone up while the big three have gone down. Nice job on the Tundra...knuckleheads.

[angrystanmotion]

Now your job is to communicate the overall quality of the Malibu to the average Camry buyer. It would help if you could keep that Camry buyer from running away from the Chevrolet dealer experience.

The only thing I really hate about my Ford is the people I had to buy it from.

[ogloc61]

people like you are making the country worse everytime someone buys a import the worse this country gets

[jsmallwood2007]

try to remember that next time you shop at walmart

[rudder11]

It is something when American,cut there self down.....Putting a stupid car together on a line

Just like in Japan,and down south......

It's just a car and a person,Japs hands better.

[rudder11]

retired from there,

[BETO1BETO2]

if they want a bai-out congress should tell the big three CEOs to cut their salaries from $16 millions to 1 million a year and get rid off their private jets, and the UAW to cut their pay to half to about $20 per hour which is pretty good.

[vampike]

The Average American makes about $17.00 per hour and the Average UAW worker makes about $40.00 per hour so why should the average tax payer bailout the U.S. Auto industry to save UAW jobs? It disgusts me that we just sit by and let these fuckers redistribute the wealth.

[alecton]

that 349billion dollar loss could have been taken care of with the bailout. Give the money to the people who lost the jobs. Not the CEOs

[whiskers78753]

$25 Billion delays the inevitable.

Their low mpg cars increases our dependence on foreign oil.

Quality is lacking. Why should we be forced to buy (or subsidize) lower quality vehicles.

When you say we does that apply to the Toyota plant down the street, or the GM plant up state? They both employ Americans, albeit Toyota doesnt need subsidies.

If one of the big 3 fails a void will be created, which will be filled by the surviving companies.

UAW is part of the problem.

[squatch43]

The big 3 should each file for bankruptcy. This would allow them time to restructure & sell off parts of each company to investors who can actually run successful businesses.

America is not going to stop driving vehicles. Other companies will take up the slack & even expand operations hiring thousands of workers at a much more reasonable cost to the companies.

This notion of having all 3 companies go out of business overnight is complete nonsense.

[rudder11]

What an ass hole

[rudder11]

You are right on my friend,very smart young man.

[jerzjt]

careful, if not for the UAW the car companies in the southern states would be paying their non-union labor force much, much less. In fact the UAW by there simple existance helps maintain a level playing field for other factory workers. Oh yeah, just in case...I am not a union guy. In fact, I have been anti-union for years. You can't just blame one factor, entity or issue for the problem with the Big Three. The problem is complex and so should be the solution.

[rudder11]

If you had a union,you would know the differents

Wait tell you lose your job my friend

Call the Japs to help you,not Americans.

[ogloc61]

stfu faget people like you make this country worse , we should just drop a-bombs on japan and call it a day

[chavrecycler]

Wow, you've got some really advanced, well thought out views there, ogloc61.

[jerzjt]

oh yeah...I own two Dodges and one GM...I guess that makes me anti-union too, huh? And unlike a vast majority of posters here, I work in the auto industry and live in southeast Michigan.

[birminghamchron]

let them fall. theres people about to go homeless because of the bad loans banks let people have end the fed. peace

[mmhhmmtaco]

Let the "big 3" fall!!! Enonomists have agreed that WHEN the big three fall and file for chapter 11 bankrupcy they would restructer. They would then begin to produce better, more desirable cars, tear up outrages union contracts, and just get a 'fresh' start. Americans have forgotten that we can adapt, adapt to an everchanging world that only gets more competitive every day. Its time to stop rewarding poorly managed companies and institutions!!

[sirmidthenight]

The big3 have been bailed out by the consumer for the past 20 years by their over priced products, it has not helped. They have been sitting on the fence of getting by and failing for years due to lack of compete, r&d and planning for the future. Their products are inferior they fall a part after a few years, this is why only the engine and tranny are under warranty. They have to cut the fat from the top and build products worth the money they charge, problem solved, not sell fear, please.

[wizard6x9]

People seem to forget, that in North America the big Three, have been around for 100 yrs or more, paying pensions and benefits that go to their bottom line as cost per employee. Honda and Toyota, pay hourly just as much as the others, but their costs are greatly reduced because they dont have to worry about pension payments for another 15yrs. Direct labor cost still only amount to about 7% of the cost of the car.

[rudder11]

You are so right my friend

[robson0172]

When Americans stop living off credit and monopoly money that is made by a private bank and given to them at a cost. And kids begin to care about getting an education and not living off their parents. Then ,maybe things can begin to get better. Americans are greedy and only think of making their dollar today. Everyone for themselves!!! That's the American dream.

[qualqui]

agree with ya!

[njvaboy]

The big 3 failed and should be allowed to file for bankcruptcy. This process will then allow them to reorganize management and renegotiate bad union contracts. Those CEO and other lesser executive compensation packages should be trimmed down or better capped during these difficult economic times. Fix that liquidity problem right.

[JackNeedles]

This video is DEAD wrong. We should not bail the auto industry out. If we give them billions, they'll be back in another 5-6 months asking for more. If we bail them out, it will take jobs from another area of the economy because there is NOT an unlimited supply of credit. The government does can not make the best choice when it comes to the economy. The free market can only make the best choice. The current bailout alone will already cost over 5 TRILLION dollars. Can anyone say hyperinflation?

[qualqui]

well said JackNeedles!

[Doeboy1983]

We should tax everyone that drives A foreign car

[randoley]

GEt rid of the unions and there wouldn't be a problem. If the car companies can't compete then that's that. If the government would stay out of everything the free market would balance every thing out.

[leonkennedy1]

Very well said zennie62!

[Thief13x]

thats a good idea! lets have a government run transit system so we can wait 4 hours to stand in line to go to work like we have to at the DMV!

you people are selling your freedoms and it's sickening. I make no apologies for stating the truth that would make every person who fought and died for this country turn over in their graves

[GTnumber1]

I agree with the Auto bailout on one condition, that the government hold all reins and call all the shots on what the Big 3 Auto should do, e.g. eradication of all gas guzzling vehicles like SUV'S, large V6, V8 cars etc., Manufacturing of more public transit vehicles, e.g. fuel efficient buses, better conditions for Auto workers, raise quality standards, improve on worker training.

[Thief13x]

why the fuck doesn't the government just buy the auto industry then? Thats essentially what's happening while trying to pretend we still have a free market

[BlackHatMan1]

And Reduce UAW workers pay as well. Paying some lazy ass 75$ an hour not to do anything is bullshit.

[peaches196]

Autoworkers don't make 75.00 an hr that is the figure politians want you to think. Yes i do make good wages but not without a price I work with different chemicals,adhesives,powerguns and equipment these things take a toll on you. What would make you think autoworkers are lazy some of the jobs dont have the proper euipment to work with so you have to physically lift them yourself.That figure includes health benefits not just our wages. so you would work for a company with no health benefits lol

[rudder11]

I with you my friend

[scarb0r0]

i absolutely agree with you. we have to keep the american auto industry alive. i live in toronto but the effects of this also reach canada

[beancube2008]

Automobile industry here is just another politics. CARS ARE SIDE PRODUCTS.

[mdlabor43]

you forgot to mention the unions have had a major part in driving these business into the grown. NOT JUST THE ECONOMY the big 3 have been getting there ass kicked by Toyota and Honda for years.

[beancube2008]

Its the industries not helping workers. Unions in other countries make the difference for the industries. Managements on both sides' divide and conquer war fairs don't make loyalty worth people's efforts.

[Ian7570]

You can't bail out every failed business. You're just throwing money in a black hole and hoping something will come of it. Let the Big 3 fail and a better run business will take it's place. Sure, there will be short term pain but it's better than just burning cash.

[razlika]

Just take more imaginary money from Federal Reserves and everything will be fine

[ogapadoga]

this is a good time for the collapse... planet earth need less cars...

[razlika]

he he he yeah!

[BitterCycle]

So some people get laid off, that's too bad, hate to see it, but we should all tighten our belts until these industries get their act together, and that won't happen by cutting them a corporate welfare check with money we don't have. The workers that do get laid off have plenty of unemployment benefits and union money they can survive off of until things get a little better. Hell, let some of these union bastards sell their boats and extra cars. It boils down to common sense, and responsibilty

[BitterCycle]

Her is an intersting and radical concept, tell the unions to go fuck themselves. They were needed at one time, but they have abused their position, and have driven up prices, and has caused inferior products due to a lack of incentive. Now the socialist government wants to bail them out, and with what money ? So they can control these corporations even more. People will always buy a car, so that's not the issue, it's just how much are they willing to pay for what could be a better product.

[jortizz]

Zennie, you should get a refund on your Economics degree. Open a book written by an Austrian economist and learn something.

If you want to see why the Auto Industry bailout is wrong read "The Parable of the Broken Window" by Bastiat.

It's short and sweet and can be found online for FREE.

[afandaeunit]

hey, i just thought of something. If the big 3 go out of business, so will autozone and advance auto parts because we wont be buying cars that die everyday. ha!

[fukimotoz]

I'm sorry, auto workers are over paid. 75$ an hour for a job that you can train just about anybody off the street to do in a week is absurd. Getting 95 percent of your salary when you are laid off, plus benefits is ridiculous. I went to college for 4 years to learn to become an animator. It requires learned skills, raw talent, and a lot of practice. My girlfriend has a PHD in neuroscience, she went through 7 years of university and grad school and doesn't make what an auto worker makes.

[ogapadoga]

$75 an hour!?!?!!

[Ian7570]

I think it's more like $30 but they get significant health care benefits and pensions.

[georgiaartist]

The very high uppers of these companies need to step down. What they did was pure greed and ignorance. To some of you people, I don't like the idea of these 3 auto companies to sink because it would hurt small businesses that benefit from these companies, and the employees who work for these companies. Also getting rid of Unions is not smart. If you get rid of Unions, it would make the whole situation a lot worst for workers. American market world needs improvement.

[gonzguard]

Enjoyed the blog but ....

Cry ne a river, the auto industry and the UNIONS have only themselves to blame.

Listen, if I have a hole in my pocket, I am NOT going to keep putting money in that pocket.

Don't buy into the hype of the 7.8 million. Even so, it's time to stop throwing good money after bad.

Unions destroyed Eastern - and we survived

Unions destroyed US Steel industry - and we survived.

[pongman]

In regards to the Wall St. bailout! The solution is to create new Federal Banks with the 700 billion and give shares of the stock to every American taxpayer. The new Bank will give out loans based on sound economic principles to small business, large businesses and individuals. The New Federal Bank can then for the capitalist amongst us sell off segments of the bank in twenty years like AT&T did. The taxpayers would get rewarded just like any company on the New York Stock Exchange.

[pongman]

British Leyland had the same argument when they were tanking regarding saving jobs. The British Govt. bailed them out and they still died. Read today's NY Times about the collapse of British Leyland. The taxpayers got screwed in England for billions of dollars.

[FederalUnionRules]

Detroit did not listen for decades. let them fail. great vlog though, say hi to moms.

[gomigomi32]

I think your assumption is true if BIG3 are completely vanish from the automotive industry. However I think there are many Auto suppliers from Japan, Europe, Korea and maybe even from China and India can acquire those Big3's facilities and support our jobs. How can we sure our tax money can bring Big3 to become more competitive company against other foreign OEMs? All the good engineers from Big3 and Tier1s have already left the company and moved to the foreign companies.

[Karrenola]

Very good, informative breakdown on the US Big Three happenings, Zennie, and very well articulated as well. Your final question regarding why the US government can't take care of it's own should be pressed upon every congressman, especially upon those who have just replaced Republican incumbents. I'll give you my answer, from way over here in the Tokyo, Japan scene, as soon as I've watched Mr. Obama's latest interview on CBS. Thanks for taking time to post this from your hometown!

[fortherichbytherich]

everything is on a free fall (inflation) low wage jobs going overseas job loss it all caught up with america and now we all pay why?

there is going to be no end housing,retail,auto and on and on

this is what you would call OUT OF CONTROL

[TechnoNubian]

I'm sorry zennie, the federal government is here by broke and have no more cash left in the bank. your plan of saving the car industry here will destroy America's credit rating and dry up credit forever.

[Strabo21]

The idea that we should bailout an industry that was declining rpior to the economic collapse is ludicrous! The U.S. auto industry has been competing and loosing to foreign auto makers for years. It's time to focus on what Amercia can do to stay #1 in the future; education, science, renewable energy, bio-tech, etc.

[hdrdddfd]

Sad the way Americans feel about fellow Americans. The foriegn manufacturers have taken over our economy and instead of banding together as Americans all we can do is gripe that the next guy makes to much or has to much while I don't get my share. America could have the largest self sustaining economy in the world with plenty of money for everyone to make a nice livable wage if we would just stick together as Americans. Dem or republican it is a sad day for America and Americans

[jkcblc]

I so much agree with you. I have been following this for days. I can't believe it myself. I am an older person and didn't grow up this selfish way so I guess it hurts me that in this wall street greedy everything for the shareholders world I guess this is just the way we have raised our children. Do these folks wonder what will happen to the elderly that collect pensions from these companies and cannot return to the job market. Some of them are not 65 yet so aren't elegible for social security

[jocamadad]

Great comment. I was reading through all of these posts and starting to wonder if their were any Americans left that cared about anybody but theirselves. You've given me a glimmer of hope. It's a small glimmer though since getting Americans to stick together anymore on anything is as likely to happen as me winning the lotto.

[Deoptics8]

Goodbye Big 3, Goodbye UAW/ USW, goodbye crap cars, goodbye auto lobbyists. If this bailout passes against the people's wishes (again). Say hello to a hyperinflationary depression. The jobs will be saved for '09 but they would lose it by the end '09. The $25B will go into the pockets of the execs & the unions that got them into the mess.

[jaim12005]

why not? cut off their loop holes..and billions the oil companies get just for shits and giggles and give it to the auto industry. It's win win. they will not miss it they have been making record ching.

furthermore give it to the auto makers that are willing to keep up with the times. Just like college students have to keep a GPA to keep their scholarships. JMHO That is the dumbed down version but all can understand that I think...why not?

[PoopyPaul]

3 large companies fall while other will rise....without getting into this bailout, I want to ask. What is GM's plan to "fix" the problem? Sure we give them 25 billion then what? I am yet to hear what this money is going to do too FIX the problem. Are they going to start lobbying for Hydrogen cars? THERE IS NO SOLUTION ON THE TABLE JUST LIKE THESE FUCKING WALL STREET ASSHOLES. All we are doing is propping up a fake economy.

[jaim12005]

Some of ou need a fcuken cartoon to explain what inflation is? Captialism? Being mugged in broad daylight-again looks like?

let them sink to the bottom where they belong. HEY how about the oil companies help them not us.

[rdrakken]

Right right right, so GM and the rest continue to increase the price they sell their cars for but damn those people making them for wanting to get paid more...

Because afterall, with the price of every single thing on the planet being sold for more and more each year people will still be able to afford to live with low wages.

No wonder McCain still got over 50 million votes...far too many stupid people in this nation.

[fukimotoz]

You make a lot of sense and your points are not only valid, but probably right. But still, I am opposed to the bailout. I know there will be some suffering, but I think we need the suffering to get our act together. I would not oppose a bail out if these conditions were me;

1- auto workers need to take a huge pay cut. They are way over paid.

2- they need to make electric cars and make a big switch to environmentally friendly cars that do not depend on oil.

3- sell the cars for much less.

[baberuthistheman]

Unions have nothing to do with GM Failing . .Unions have been with GM from booming times to recessions before .

Blame GM themselves .. They Gave up on Detroit and they Gave up on its Workers shipping there jobs to Mexico and overseas

SO PAYBACK IS A BITCH >. FUCK YOU GM !

[hissingfetus]

90% of the problem is the UAW, I know ppl working at ford and none of them make less than 80k a year. One guy all he does is sweep the floor and stock lines and makes 90k. It's ridiculous how the UAW has bullied these companies into near bankruptcy!!! Honda and toyota don't have the same problems, why is that???

[huffgolf]

Chapter 11 doesn't = collapse. People need to realize that.

[blairstl]

the "BIG 3" are hurtin. has anyone heard of the UAW wanting to go back to the negotiating table in order to help the "BIG 3"? Nah......ain't happening. Greedy bastards are about to watch these companies shut their doors.....just so someone can earn $80,000 a year putting on a stereo nob. I won't even get into the retirees who AND their spouses who get health care til the day they die! Ridiculous!

[chasingbeads]

Let them go bankrupt!!!

[aekdb1130]

get rid of the fucking unions if you want any chance of competitive advantage against the foreign manufactures.. i'm not paying a dime of my tax money to those fucking union leeches..

[lsugurly23]

When you mention that all other contries have systems in place to protect their own. This implies that everyone is looking out for number 1. Me for example have no share in stocks and have to family members or friends remotely close to the auto manufacturing. Don't get me wrong I drive a Cheve Corvette, buts its out of warranty and I just dont see why I should have to pay for their mistakes of not planning ahead. Im 24yrs old and worked hard for it and now I have to work hard for them again...

[mahidude]

"The Credit Crisis"

Haha, let Detroit fail! We don't need to buy anymore crap on credit!! Buy stuff you can actually afford, drive stuff you can actually afford. STOP USING CREDIT AND WATCH LIFE IMPROVE!

[dave777blaster]

everyone is wrong but you here

you must be an auto worker of a

shill

[dave777blaster]

Detroit Auto can not be restructured until they go bankrupt.Bankrupt does not mean out of business.

bailout wont help people as there are no car sales.

they are still going to be laid off

5 trillion already spent on the bailout

towns cities many many businesses are lining up for bailout.

pretty soon people will march in the streets blood in their eyes if bailouts continue fold out Detroit bring in Chinese cars who will sell Cadillac knock offs at 12 thousand dollars

[Actual12]

Neither my education nor my powers of recall are the question. The questions at issue are: whether it makes sense for the tax payer to bail out industry in general, or the Auto Industry in particular; and if so, is it the Fed's role to do so. I say common sense dictacts a big "NO" to the first couple, and a reading of our Constitution dictates a big "NO" to the last.

[Actual12]

You refer to our Declaration of Independence. Life, Liberty, nor Happiness require money. But if you would argue that they do, and therefore it's the role of the Fed to provide whatever is required to support same, how about providing animals to those whom it makes happy to torture?

[Actual12]

Bailing out companies that have driven themselves into the ground, is nothing more than throwing good money after bad. They'll continue to drive themselves into the ground, but now on "our dime." Let them go bankrupt and restructure. It's their only chance to become profitable. More importantly, however, it's NOT the Federal Government's role, to bail out businesses/industries! Check your Constitution.

[TrunksXV]

I feel that given the circumstances, even if we bail them out, they will still come back in a few years and ask for more money. The only way these companies are going to become profitable is for them to break their contracts with the unions. The unions are draining the life out of the industry!

TEAR DOWN THIS WALL! - Ronald Reagn!

[dave777blaster]

they need to go bankrupt and restructure

no sales means jobs can not be saved

the other car companies will pick up most of the job loses eventually

and Gm and  ford once restructured will rehire

at a latter date

bottom line if there are no sales you cant save any of the jobs with a bailout

it would be a better preposition to bailout businesses that can create jobs.which would pick up those that are laid off

the business model of the Detroit Auto companies is not sustainable .

[dave777blaster]

bailout businesses that can create jobs not Detroit Auto who have no sales there for can not create or even save jobs.

that would be like throwing money in the garbage

[dave777blaster]

your rules are made for people that read comics

im real

[telamika]

Well Its not just, those makes... I worked for honda and was let go earlier this week along with 300 other ppl through out that dealership chain. My sister-in-law was let go the day after me from toyota. It ALL dealerships.

[canucktunes]

Canada is examining their options as well for their own bailout of our automobile industry. We have 400,000 jobs in that industry in my province alone.

But they're waiting for an American response and the bailout wouldn't be unconditional. They want the funds to remain in Canada and they want sustainable projects.

[tubesurferwidget]

Good points Zennie, but what do we do to insure that this bailout won't be misused like the current one. There's no oversight, enforcement and the desired effects have not been realized. Companies also must suffer some consequences for bad management and failure to adapt to the market. They shouldn't be bailed out just because they hold an economic gun to our heads. Who else is so important that they'll be in line next for a bailout?

[S197V6TT]

Remember, Barack Obama has tried telling everyone time and time again, about his Grandmother working on a Bomber assembly line. Most of you, have allowed it to slip by you. You must not allow anything to slip by you these days. When information is given, it may only be one word at a time.

[S197V6TT]

@Zenniee62

Understand the world around you. Disguised as the American Auto Industry, humble in its existence. The Greatest War Machine on Earth exist. People viewing this through the lens of simply producing cars, has swallowed every drop of the Kool-Aid. Its their ability to re-tool in less than 3 months time, to create vehicles of War. If the American Auto Industry fails, we are 100% dependent of foreign Countries to produce vehicles used to defend this Country from invaders.

[moparmaxx26]

you have a point, my uncle works at Chrysler in St. Louis. He says our Truck plan was actually Designed to build Tanks in case of a WW3.

[MellowMadnessRemixes]

If GM files bankrupcy good bye to Saab and Volvo as well. The dealerships will perish leaving independent, jobbers and other speciality shops to take advantage of their loss. BUT, that will only cover for the short term. In the long run everyone will be hurting.

[Zea107]

This is just the same as with a random river-toxic-polluting factory which isn't shut down so a (few) hundred people don't lose their jobs... it is as if environment and quality of life of everyone would not matter.

I disagree with this intervention. Start looking for a solution for restructuring those people to service sector.

[Puzzoozoo]

Is this the same service sector that has gone into free fall with banks holding out the begging bowl, or the service sector in the main economy that is shedding jobs ?

[Puzzoozoo]

I am not an American.

[DynaCatlovesme]

When a company like GM goes into Chapter 11, that is not the end! The company doesn't just evaporate taking all the jobs with it, it gets debt relief and is reorganized. This is the way the matter needs to be dealt with, not by rewarding stupidity.

[tubesurferwidget]

Funny how all those free market laissez-faire types become welfare queens when all their free market blather turns out to be bullshit and fails miserably.

[jstutz2003]

I work in the auto industry and I say let them die. The UAW has killed its cash cow and we need them to go away permanently. I've always been a GM fan, but if they can't compete, then just let them go away.

The only way I would agree to a bailout of the auto industry is if they agreed to kill the UAW and set their worker pay to a proper amount. What some of these guys are getting paid is completely ridiculous. A year ago the average second-tier UAW worker for GM made $73 an hour.

[elshizzo]

you might be right zennie, but selectively saving industries just doesn't seem right. It's going to make people say "hey, GM got bailed out, why am I not getting bailed out, that's not fair"

[tubesurferwidget]

I've screwed up my personal finances, where's my bailout? What, I don't get one because I can't take the whole economy down with me?

[chewbaca1989]

They, the Big 3, made tons of profits selling those gas guzzlers with the writing on the wall. That was this, peak oil.

Fail? They ought to.

[SL1200MK4]

How about the fact that American cars suck in terms of quality, reliability and style? The service isn't known to be the best either.

It won't be pretty for the big 3 to go down. But if they don't make competitive products then they will go down sooner or later. Unless Americans want to treat them as a social welfare program and keep on pouring money into them.

[warriorsbasketball]

Great points!