Automakers Come With A Plan For Bailout

[btttan]

Which bank is going to lend to any company that is unionized.. Union went from employees to majority owner. Later the union will monetize their ownership to collect their gain and re-start the process all over again. Lesson from Chrysler bankruptcy proceeding will only encourage many other unions to ask for more pay and benefits so that they can own the company using the same strategy that they had employed for many years on the car industry. Corrupt government in bed with union

[kymystic65]

lets be fair then. If you're going to bail out the auto and financial mega industries, then you should bail out everyone else who's going bankrupt. It's not fair to bailout these guys and say to hell with the rest of you, you're on your own.

Either bailout everybody, or nobody.

[Windshearing]

IN my opinion, car makers should stop producing new models. I mean, a lot of big fleet buyers like the government etc don't replace cars specifically to upgrade to a new model, it's because they only have a shelf life. So if you could buy a brand new Ford Mondeo for instance, that was based on a 2 year old design, it's still a freaking new car.

There would be lower manufacturing costs, and so on. Work on developing and improving existing designs, rather than focussing on newness.

[combatphotog21]

I like this guy. He and Cenk have a good repoire ("mispelled..." yes I know..

[kwballzandy9206]

no bailouts its true that a lot of car people will llose their jobs if they colapse but it will open up for entrepenuers that have been shut out by the Big 3 monopolizing the manufacting in america

[86tommy]

I NEED SOMEONE TO TALK TO

this video was good Sy

[Ksuperior8]

Let`s keep jap car out!

those japs has destroyed american holy

industry!they are shamless monkey.lol

[REDTEAM22003]

hey dumb fuck jap cars and eruo cars are mostly made in the USA its the american cars thats are made in china/mexico...JACK ASS

[dpatel83]

Thank you for reiterating my point, the fact of the matter is American cars have become moneypits. Ford was the first to realize it and are in the best shape in terms of the Big three. People will always but the best product which is right now the Japanese and German cars and not our own cars. Simple fact is trim the product line create more durable, safer and more fuel effiecent cars and Americans will start heading back to you.

[roscoe85cj]

LOL.. its all about these greedy pampered pricks (the UAW auto workers) who refuse to give any concessions on their $40/hour blue collar jobs and 95% pensions who bankrupted their companies .. let them rot, I'll never buy another american-made auto now that I understand the profits only go to supporting these spoiled brats and their elitist "entitlements".

[gardnerbm]

If they get a bailout, I want a new crewcab 4x4 pickup truck in my driveway as part of the deal.

[gardnerbm]

I dont think we need to save the auto companies. Its a global economy now. Nobodys buying their cars. Maybe they should get creative.

[jaim12005]

Ok then----- if that is all it takes...

I need money/back up credit line...

:waitingforsomeonetothrowmoney­atmeface:

[melshorse]

The 70 per hour figure is not factual. A New York Times reporter had that number in a story. The anti union press picked it up as mother's milk.

[Tinytreas]

I don't understand why there is even a question whether to "Loan" the auto industry money. The financial sector pillaged because of deregulation and was given billions. If the auto industry isn't given the "Loan", we will see a depression worse than anyone can imagine! Who cares how the CEO's got to Washington! Millions of jobs are at stake. We can only ship 6000 cars to Korea, they can ship 40000 to the US. UAW workers work hard and the wages are barely enough to have a home and pay bills.

[kwilli33]

why bail them out when they just took american jobs and shipped them overseas... so now they are coming for our $ too. Greedy corporates fail to see that if i take your job u cant buy my product b/c u have no $ and in turn i lost $ duh simple economics

[Rev0lutionIsMyName]

If this corruption winds up getting passed and the automakers get their billions of our dollars, I swear I'm going to start a boycott movement against American companies that got bailed out. I am so sick of this crap. Its unconstitutional and its friggin theft!

Ever hear of no taxation without representation? Its about damn time we stand up.

[timg455]

I think this is all bullshit, people just say we need money and all of a sudden everyone wants to just throw money at them.

[voiceofintelligence]

NO BAILOUT!! The only way the auto industry is going to become profitable again is to declare bankruptcy, and dump the unions! By demanding unreasonable wages, unnecessary numbers of workers and exorbitant benefits, the unions destroy every industry they touch. No industry can support that! I live in Utah where unions are practically non-existent. I make a decent wage, and unemployment is below 3%. Unfortunately, unions also OWN the democrat party. Please wake up, America.

[DaytonaRoadster]

fuck this shit, we dont need to save them. The english did fine when British Leyland went bankrupt, it'll sting at first, but we will recover.

[wolear29]

go to hell big three

[crusherblackwells]

I bet if your ricer gets stuck in a snow bank, and some dude in an F150 comes by, you would love that "big 3" product pulling your butt free

[nardmode]

we don't need your small balls around here champ, move along.

[crusherblackwells]

I bet your woman would love them

[crusherblackwells]

ahh the ignorance of wussies never fails to amaze.....

[ArizonaChristmas]

Looks like nobody likes an automaker....I wonder if it has anything to do with the fact they Ripped off Consumers for years at any local car dealership.....How many of you are Upside down in your current Auto Loan because of a Scumbag Car Salesman........Hmmmm ?

[gerryboy101]

americans should not tolerate a bailout from gov because these debts will transfer to there children. the financing should ONLY come from banks. if the banks refuse to bailout, then go bankrupt. thats it. import automobiles are better anyways. my 2cents

[Boomer1949]

We just bailed out the 3? 4? banks. Why don't these auto makers go to them for a loan, why the government? What the hell are these banks doing with the billions they got? Wasn't it all about loans and freeing up lines of credit? Something is wrong here folks.

[grahamkeithtodd]

the Banks took the money and used it to buy other banks that where not in debit over there heads...(a massive cash grab)

and the result? the banks are still crying out for MORE MONEY! you did not even impose any conditions on the banks useage of the Money.. why NOT?

[jsg103]

I like the whole fuel efficiency thing but i'll stick to driving my one ton 4 door dually pickup, i have to haul stuff..lol

[grahamkeithtodd]

hummmm... make cars that the us and the rest of the world wants to buy... you know? it's just crazy enought that it might work..!

but you know deep down in your heart of hearts it's not going to happen!why? because sadly the us car makers have no fucking clue what sells in the rest of the world! sure cars are cheaper in the us and canada but then so are the cars coming in from overseas!

but at least this time they did not fly in on privete jets to ask for money!

[trapskeetfly]

New one auto manufacture can be build under $500M or much less with new management, non union workers with people want to work and using existing supply chaines can be done, it might be a better outcome for a new combined companies and for consumers with better auto products. There are too much bardens with existing situation with UAW.

[tooomp]

Sales are down at all the automakers not just GM, Ford and Chrysler.

If this were a normal year, about 15 million cars would be soldin U.S.

Divide $30 billion by 15 million cars and you get $2000 per car. Surely the government can come up with a purchasing incentive program, that would be industry wide.

GM would like to use the money to restructure(that means layoffs). That won't help the dealers, suppliers, or spin off business(restaurants, other businesses)

Just some common sense.

[alexmigda]

maybe the UAW and the overpaid executives are part of the reason that they aren't making a competitive product. he didn't even speculate on why they aren't competitive.

[mnoel228]

alex,

we are not allowed to complain about executives getting too much money, that's socialism.

but seriously, sweat shops make cheap shit and the US doesn't have any.

what is a UAW?

[alexmigda]

We are allowed to criticize them and the way they run their company if they are asking us to loan them billions in tax money. giving them tax money would be qute socialist, not that i'm against that. UAW is United Auto Workers.

[mnoel228]

i was pointing out our hypocrisy and the way we rationalize criminal behavior out of a psycho fear of socialism. it is sick to let people starve to death(both in and out of the US) and turn a blind eye to people that exploit others for a living. thanks for the uaw def man.

[mnoel228]

are you smoking crack?

the US makes great cars, the cars are expensive because unlike other countries, we have a problem with child labor.

stop calling it a bailout, it's a slight tax-cut for a company that seems to provide health-care, decent pay and retirement for employees.

Our US government drove the company into the ground and now wants to be the hero.

STOP BEGGING GM, FORD AND CHRYSTLER TO ACT LIKE WAL-MART!

[ssuuppeerrbbooyy]

unlike other countries? like we do in europe? in US even EU cars are cheaper than here in europe. for example i checked the price for bmw 2008 M3. Germany = 65.000 eur, US = 57500 $ = around 45000 eur. Both prices from bmw official sites. 20k cheaper overseas than in the home country. now lets not even touch the american made cars like the mustang or corvette. not to mention that you buy gas at about half the price we have it in europe. yeah you guys have it really bad.

[mnoel228]

super,

people in europe are so lucky, admit it, u don't get charged 2-years-salary to attend college each year. our country is a fuckin mess.

[ssuuppeerrbbooyy]

yeah, our school systems are better, but i dont see what that has to do with car industry

[mnoel228]

we spend all our tax money on war(and let people die in hospitals and prices of education go up), then make innocent companies like gm pay for everything we need and they include that in the purchase price of cars, and when they can't pay their bills people think it's their fault.

are u from france or a bad part of europe? i'm ready to go back!

[grahamkeithtodd]

errr not quite mate... in the uk unless your really really poor and gifted you HAVE to pay your own way now... thank you Tony Blair(who got a free ride to collage)

and in the uk it's a damm lot more then what you pay in the us my old son!

[mnoel228]

haha, nobody told you? the dollar is shit. if i could get my hands on some pounds i would be fine.

[canadianbeeph]

ah ford

Found

On

Road

Dead

[juliact]

SPOT ON! I love TYT!!

[prowler39j]

I hear everyone screaming no bailouts for the big three. They did it to themselves, they should go bankrupt. But what I am not hearing is the cry for the banks and wall street firms to go bankrupt, for their CEO'S to take a dollar a year salary, for them to give up their luxury's? Believe me I do not think any company should have gotten one darn tax dollar, but why the disdain for the fat cats of the big 3 but the fat cats on Wall Street get the golden chalice?

[Flamesfan7]

To equate three private corporations' complacency and inability to read consumer trends in a ultra-competitive market to the unprecedented implosion of the worldwide financial community seems a little disproportionate.

There's a big difference...the financial sector's destruction is near-universal; yet there are still automakers (re: Toyota) that aren't failing because they're practicing fiscal responsibility and innovative design. GM/Chrysler/Ford have not, now they pay the price.

[stuartjamesgemmell]

The cars cost way more than they should because of union power & Management wages...

Go Jap..

[flyingtorpedo]

All three CEO's should offer their resignation if they want government money. Nobody blames the CEO's of these companies. People are quicker to blame freaking Bush over the companies own president for their failure! Whiners! Let them tank! Honda, Toyota, Hyundia, these foregin car companies have factories in the US, they arnt crying.

It wouldnt be the end of the world....

[flyingtorpedo]

What a whiny little pansy. Why would anyone support these effing stupid bailouts? Your prolonging misery! Let all of these companies go under! Guess what? They will be replaced! We are capitalists not communists!

Failure should not be rewarded! If I owned a painting company and it was getting ready to close its doors could I rely on tax payers to "bail me out". THis whole notion is absurd! Inflation and post-poning disaster

[jonz23m]

when they couldnt make money during the "good" economical times how they gonna make money during the comming worst recession (or depression) ever?did anybody think about that?where is the common sense?

[uskafighter]

That Chevy Volt looks awesome. If they would hurry and produce it, and price it affordably, we will buy one. My wife and i are holding off on buying a new car until alternative energy cars becoming cheaper and more readily available. It's time for the US auto makers to pull the oil companies dick's out of their asses, turn around and punch them in the face and realize that they need to please us, not the oils companies.

[jfizz313]

i kn ow my mom always buy's pontiac but the interitor has been going to heel she had a 06 g6 then whent to get a 08g6 and the interiror was worse

[brainsboy]

Ford CEO drops to 1 dollar a year salary.. Guess they forgot to mention he gets a 200 million dollar bonus if Ford gets the loan. what a fricken joke.. For what the government spent on the Iraq war we could of bought the hole fricken country. Now they want to blow money on GM , stocks and banks, they could of bought every one of us a house that lost a home, for what they have already spent.

[Dyne77]

Actually, Ford is canceling all the 2009 bonuses for executives. Or so they say. I guess they'll just be working for the sake of job security.

If the Big 3 don't come out with some hybrid and electric cars in the next year or two, they'll be finished. Hopefully congress will force them to clean up their act, instead of handing out money no questions asked.

[WARDOG1138]

ok, I do love all of these guys, this guy is great, wes clark jr. is awesome. But where are my usual Turk suspects? and does that have anything to do with the lack of youtube videos?

[ArtypNk]

Bailout... It will go this way: Every week they would increase the number, 20b 27b 37b 58b... 250b.. Once it reaches a huge number, boom! Government submits.

[jfizz313]

my family owns a business near a plant people come in after work but its true thy wont give them a bail out if its not above 150bullion

[aribenzane]

"Congress should demand we have better, greener cars"

Yeah like will happen. The US auto makers are greedy, opportunist pigs who saw the wallstreet pigs get their bailout and now they want their piece of the pie. There is nothing magical or special about the old US auto makers. They should go down the tube, just like any company that makes crappy products should go down the tube.

[prideventures]

It's nt a true statement that American automakers "do" not make good cars....the real statement is that American automakers "did" not make good cars, and turned consumers away from them, and to foreign cars...come manufactured here and some overseas....it's hard to get back because not only did they make unreliable product in the past, when consumers went to them to resolve it they would deny there was a problem instead of fix it...now it is costing them in credibility....

[playfyte]

That's all good and fine but it was the unions that priced us out of competition. Then you can't trust GM either. The last time the employees gave back some pay and benefits Gm used the money it saved and built a new plant in mexico. Then they just padlocked the doors to a plant here without warning. Start designing and learning how to build cars that run on water. Stop sucking off the oil industry. Or go right to the federal reserve for a loan. It's a bank. Not the The tax payers.

[lehman]

The show needs Cenk imo

[aribenzane]

He is coming back right?

[lehman]

I hope so.

[Rosannasfriend]

sure he is! He's on vacation.

[Rosannasfriend]

I do think TYT can live on fine whenever Cenk isn't there, but he needs stand-ins with "star quality", these ppl are too bland.

[LeFoiHyene]

I agree, these people need more personality :/

[fjackson90]

youre right because he is a huge reason tht i watch the show. it's like taking tebow off the gators

[keithwhitmer]

I'm not sure making cars that people "want to buy" is the answer. People "want" a Hummer. This should be about selling the idea of being smart and frugal. Look what VW did in the 60's. They made this ugly car a symbol of being smart and anti establishment. Yes, it was an existing / latent emotion in consumers that the "madmen" tapped into but they also could have done it very differently and not been so successful. It's about priorities.

[fjackson90]

when they say cars people want to buy, they mean affordable and good on gas.

[keithwhitmer]

Yes that is what he means. My point is that making cars people "want" is how Detroit got here. The motivation for wanting cheap cars that are good with gas is $4/gallon gas. As soon as that is a few years behind us people will be buying gas guzzlers again. I'm splitting hairs I know but I'm just saying the big 3 need to change the way they think about making and marketing cars. They need to push themselves like their Japanese counterparts have for the last 20 years.

[BMWizardofOz]

one problem is people didn´t want to buy cars that are good on gas.

When Volkswagen tried to go that way in 1999 with the VW Lupo 3l (named 3l because of arguably achieving a consumption of 3l/100km (78miles per gallon) when driven at a given speed for a long distance)

But the VW Lupo 3L didn´t do well and so they stopped building it and its Audi A2 brother in 2005.

[keithwhitmer]

Yep. In '99 the economy was in a hyper dot-com bloated state. Everyone was rich on the latest IPO and who cared about gas mileage? Everyone wanted a Hummer. (exaggerating to make point) Make sexy alternative fuel cars, hybrids etc and do not offer anything else. Otherwise they will need to be legislated into it. It may be too late anyway. But they need to rethink the entire game plan...

[awreslr2]

Here's how to save money and gas: get a bicycle! 95% of people drive less than 40 miles a day, and 40% drive less than 12, an easy ride on a bike.

[keithwhitmer]

Even if half of those people did what you say, it's a great idea to partially help!

[eirefrance]

Seriously, I live in DC and there is almost nowhere in the city I can't bike to in a half hour. Still, with the recent cold, it can be a little less appealing.

[sm0key42o8]

I think is pathetic that 35 mpg is consider great gas mileage...

[nardmode]

fatass americans will never be able to fit into the superminis we truly need, like the rest of the world.

its like these fucking rednecks here in Austin...WHO LIVE IN THE CITY, and still drive a goddamn extended cab ford and dodge trucks. that have not a spec of mud on them.

then you see the trucks with the "KING RANCH EDITION" and you know damn fucking well that truck will never see a ranch in its lifetime...it is truly pathetic.

bigger the truck..smaller the balls.

[crusherblackwells]

I got a truck, and your woman loves my balls

[nardmode]

go back to your shack in the woods and your protein shakes while watching sports center on repeat

thanks for making an account just to reply to this.

[joanswitches]

GM DOES make fuel efficient cars, and they sell them in Europe, and DON'T sell them in USA for some fishy reason. (GEE WHY COULD THAT BE.) Maybe EXXON should bail out the auto industry and give us back the battery powered GM EV1 cars that GM demolished 20 years ago.

[voyeurdug]

There hasn't been a purely American-made car on American roads for decades and decades. The only purely American-made cars you ever see are the concept cars in the corners of annual car shows... that won't make it to dealerships... much less the roads... unless buyers are willing to shell out a few hundred thousand a pop for 'em.

What's needed in Detroit (to include the UAW) is a sea-change in the whole concept of operations... from design to the dealerships' service departments. Nothing less.

[joness105639]

It's about time someone said this.

[timestarvedcd]

For me, Cenk IS TYT. Is it wrong that i find these stand-ins boring?

[press1500]

i'll buy a mustang...

[Jackthemeat]

I wonder what Cenk thinks about his comments? Thats capitalism folks, if you cant compete you deserve to go down. Big brother doesnt bail you out you simply crash and burn, Next.

[tommyenglish1]

americans never were making good cars

[joness105639]

Excuse me? The Model T was a great commercial success, and by the time Henry made his 10 millionth car, 9 out of 10 of all cars in the entire world were Fords. In fact, it was so successful that Ford did not purchase any advertising between 1917 and 1923; in total, more than 15 million Model Ts were manufactured, more than any other model of its day. Many many examples are still roadworthy and because of their simplicity are extremely reliable, even 100 years on.

[joness105639]

Then there were the duesnburgs, the auburns, the packards, cunninghams, scarabs, the 1951 hudson hornet, the mercer runabout, miller race cars. Americans have alo introduced two of te greatest engines to the world. The chevy small block v8 and the rover v8. Americans can and have made great cars, but the big three have been strugling to make reliable desireable cars that will sell since the oil embargo of the early 70's

[l0gically]

That's suprising about Mullaly, because he came across as one of most arrogant- truly in need of of the blunt end of a clue bat. He was bragging about what a wonderful job he did cutting costs by getting rid of *others'* jobs. Nothing noble, like taking a pay cut, or god forbid, commanding a more reasonable compensation package.

[fsem10]

the unions could be slaves and GM would still be losing money!!! the ceo's with their 20 M a year salary ran the co. to the ground

[crowdaddy13]

its not about good or bad cars, its about the fucking american companies outsourcing the work to other countries. when you pay a union person $25 an hour, they will make a good car, but when you pay a mexican 50 cents an hour, they dont give a shit.

[osmarsus]

get your facts right then re-write your comment

[ayk1987]

You are dead wrong. The unions are what brought these companies down. U.S. workers in Honda and Toyota factories get an average of $40 an hour. The big three have to pay $70 and hour because of union contracts. This places a strain and causes the companies to back on quality and receive less profit. If they declare bankruptcy then the contracts expire and the American companies will be able to build themselves back up without paying employees excessively.

[gogosox82]

No you are dead wrong. They don't make $70 an hour, that's an intellectually dishonest number that someone pulled out of their ass. It's $28-$38 an hour. Besides, do the math man. If they made $70 an hour, they'd be clearing $200,000 a year. No way in hell their making that much. It has more to do with the auto industry getting in bed w/ the oil companies and refusing to make competitive fuel efficient cars. It's a leadership problem, not a worker problem.

[crowdaddy13]

thank you gogosox82, my father in law actually makes $22 an hour and my wife makes $13. They both work for GM. This fuckstick thinks that we clear $70 an hour. He obviously lives on the same planet as george bush........planet dipshit

[ayk1987]

The average wage is 70 per hour compared to 40 in the japanese factories because unions force the big 3 to overpay for a job. So basically to break it down to you, your father in law gets paid 22 an hour for a job that would otherwise give about 15. This causes increased spending and less revenue. If the big 3 are allowed to go bankrupt then the contracts with the unions expire and they can run themselves like the japanese companies.

[ayk1987]

The AVERAGE wage is 70 per hour. It's the union contracts that cause the labor force to be overpayed when compared to Honda/Toyota workers. Those people get an AVERAGE of 40 an hour. Google it. And I do agree with you on their lack of initiative to produce green cars hurting them.

[gogosox82]

The "AVERAGE" is just plain dishonost. Like I said earlier, it's only when u add all the workers who work plus pension and the retired workers and the workers who have passed away and they are still paying pensions to their families and divide that by the actual workers working. See how decieving and dishonest that is? But since no one wants to do the homework on these guys, they can just say whatever the hell they want and get away w/it. Don't believe everytime u see or read.

[richardshort2001]

As stated the $70 an hour is intellectually dishonest. Here's how the right winger who came up with it did so.

Added together all the money they pay to Active Workers, Retirees and Families of dead workers and divided by the number of active workers. Yeah they counted the money going to retirees and dead workers without counting those workers. It's like saying there are 39 comments on this video so people whose name is richardshort2001 have an average of 39 comments on this video.

[crowdaddy13]

the sad thing is, is that we are debating this subject with two 20 year olds......people that dont know jack shit about working and arent old enough to remember the 80's...........i remember the strikes, the lay offs and the fucked GM workers then too. while they were still sperm swimming around in daddy's nutsack

[crowdaddy13]

well, my wife works at GM and I guess her $13 an hour pay is excessive? So wheres that $70 an hour your talking about, oh, because its averaged in with the CEO's and the fucking $800 a month fucking insurance bill that has to be paid.

go fuck yourself, because obviously you dont have a family member, such as myself, getting fucked in this deal.

american autoworkers have better QC and better production output than any other car makers in the world, you just fall for bullshit propoganda

[flyhye]

How long did the big 3 think they could continue producing sh**?

How many F-150s and Dodge Rams can the people buy?

[osmarsus]

F-150s are actually decent.

[deathweaselx86]

*if you own a ranch or a construction company or something and need the power.

I see too many assholes driving those because they looked cool before $3/gal gas

[nrsims]

American companies have been making subpar products for decades. That is why all of the 27 original American Television companies are either out of business or bought out by companies in other countries.

If they don't know how to compete in the market they need to go out of business. Yeah, it sucks for the workers, but that's how it works

[simply2ghetto]

This guy can suck my balls let the big three fail. Free markets. Let the japanese coming and make new cars and make the profitable. This will preserve the jobs.

[crowdaddy13]

damn you must be a promoter of japanese cars, because you cant even speak fucking english

[simply2ghetto]

Yeah I was a little drunk last night fuckface. I can assure you that the Japanese that do speak english speak it alot better than you.

[vRaZ1el]

This guy doesnt know what he's talking about. I need to hear the truth from Cenk.

[Dyne77]

Alan Mulally, CEO of Ford, said he will work for $1 per year in order to get government aid. Ford also said it will sell the private jets, and the CEO's of the Big Three seem to be arranging to drive to D.C. instead of fly. The way things are working out, we could see a bunch of electric and hybrid cars in the next few years.

They better not let the car industry go bankrupt, especially after bailing out all those banks.

[jophus82]

I want to keep them afloat. I'd give them 20 percent of what they are asking for. Before giving them more I want contractual obligations, I want to see schematics, and I want to see restructuring.After they have actually started to work on it then I would consider giving them money.

America doesn't work on promises anymore.

[vRaZ1el]

And you actually think they alan mulally means that? And even if he does mean it, he has more money to live wealthy off of for ten life times.

I dont need to hear all this bullshit from these companies. I need to hear their concern for their employs like toyota expresses about their employs.

[Dyne77]

@vRaZ1el

If congress grows some balls (hopefully), the Big 3 CEO's may be forced to make such sacrifices.

I don't understand the "let them fail" mentality. The car companies are more than just a handful of executives, they provide jobs to millions of people. Wouldn't it be better to change the leadership (or force the leadership to make changes), instead of killing a chunk of the economy and starting from scratch? If they go bankrupt, the workers will suffer much worse than the executives.

[vRaZ1el]

I dont see how you can have any remorse for the american car companies when you have a company like toyota who is in exactly the same situation as GM, but toyota is doing something about it, while GM is sitting on their ass just asking the people to dish out billions that we cant afford to save their ass.

The point is, american car companies have alternatives. But they dont want to take those alternatives because then it would mean slightly lower profits.

[Dyne77]

GM sucks balls. I don't care what happens to the executives, but it would be more efficient to replace the leadership of GM (and Ford and Chrysler if necessary) instead of flushing the entire company down the drain. It's the workers I'm worried about, plus all the other jobs that depend on those workers' salaries.

If GM went bankrupt, who would take their place? Is someone gonna pull several billion dollars out of their ass to start a new company? I doubt it.

[vRaZ1el]

Do you think that GM would go bankrupt? They dont seem to be cutting the cost of their cars to make them more affordable to the public. It just seems like they're not even trying. Almost like they saw all these companies asking for some bailout money, so they jumped in to get a "piece of the pie".

Im worried about the workers too. But when I see toyota taking care of their workers, it tells me that GM could take care of their workers just as much, instead of flying around in private jets.

[Dyne77]

At the rate GM is losing money, they are expected to go bust within a year. I believe Chrysler and Ford are in a similar predicament. Because of their size, I don't think it would be feasible to let any of the Big 3 go bankrupt.

Japan's car companies are doing better partly because of better management, but also because they are newer companies. Toyota, Honda, etc. were able to jump in with newer technologies from the start. The Korean companies are doing better for the same reason.

[vRaZ1el]

Well, if they do get some bailout money, hopefully it wont happen until Obama takes office. Because Obama said that he isnt going to give them money just so they could continue making cars the way they make them now. They would have to start making them fuel and energy efficient and releasing them to the public immediately.

I think thats why they are so persistent to get some money while bush is still in office. Im sure they get money from the oil industry to make cars gas guzzlers.

[Dyne77]

I absolutely agree. If they don't change their ways, we'll just end up in another mess several years from now. Though if they actually want to sell cars, it wouldn't make sense for them to keep making gas-guzzlers.

If it were any other company, I wouldn't mind them going bankrupt. But with GM's size, I just can't imagine another company being able to smoothly take their place. Would be nice if some new car companies started up so the Big 3 didn't have such a monopoly on the industry.

[jsg103]

I agree but from what i've read supposedly gm will be insolvent within 60 days if they don't get any more money, thats what i had read on a few different articles.

[katey1dog]

Americans are making good cars. Since the mid-90s, our auto makers kicked in and managed to do it. Unfortunately, they are still fuel guzzlers. Now, efficiency is taking precedence, which the Japanese and the Koreans have already cornered.

All the big three need to do is to make it profitable to the consumer. Maximum KBB trade-in value, employee discounts, and holiday sales pitches. All in one.

[joness105639]

I still think they need to work on thier image a bit. They are still often viewed as being cheeply made low quality, unreliable vhehicles. stylingwise, ford is way ahead of the other two, chevy, and pontiac need complete makeovers. the chevy lineup looks more than 10 years old. it will take time but we can get there.

[katey1dog]

Image will only matter if they start selling their product at a reasonable price.

[joness105639]

and what determines what a reasonible price is? I don't think americans should be confined to making knockoffs of fiat 124's or yugos. IMO Image is part of what determines what is considered a reasonable price. Otherwise why would anyone spend $201,213 on a new ferrari and consider that a fair price.

For example, 2008 chevy cobalt $14,410, 2008 toyota corola $14,405 (base price). Consumerguideauto (dot) com, scores both identically.  Which car sold more? Why?

[katey1dog]

Image is part of what determines what is considered a reasonable price.

To a degree. The main issue is price. Japanese vehicles cost less to manufacture and transport. Plus matters worsen for the big 3 as the Japanese build and operate plants here! At still a cheaper cost.

The Chevy Cobalt ranges from 16000 to 24000, while the Toyota Corolla starts at 15000.

[joness105639]

"The Chevy Cobalt ranges from 16000 to 24000, while the Toyota Corolla starts at 15000. "

2009 models yes. I chose 2008 for a reason. The prices I listed were MSRP base prices. It sounds to me that price is not so much a problem as cost. Internal costs and costs of supplies do have an impact on saleprice and quality. A cash strapped company may end up cutting corners to stay a float but this reduces quality and thus brand image. All else equal, image is always the final deciding factor.

[joness105639]

The 08 corola was boring to look at, so was the 08 cobalt. The interiors of both were drab. The chevy has more horses, and is a bit larger here and there by a few inches, but I instantly assume that the corolla will last longer because of toyota's reputation. If we compare the yaris with the aveo, I instantly chose the yaris' cute and distinctive styling and reliability reputation over the aveo's uninspired design even if it is more pricy.

[katey1dog]

The looks of a vehicle are always distinct. They are the sale of the vehicle. But the facts are clear. Price. The only image that needs to be changed on an American sticker on the window of an American car is price.

Who can make the best deal to the consumer. Toyota has cornered that market for 2 decades.

[crusherblackwells]

And dont forget those US Japanese plants have no unions to fight with either.

[CrocodileMonkey]

Cenk got married.

[deathweaselx86]

He can't come back anymore? What a wife!

[ArtemisMS]

Bleh ... auto bailout is ten times more interesting than football :p

[franksnow79]

Yeah, but the banks and brokerages got everything they asked for and more. With no oversight to boot.

But the automakers get humiliated cause Congress thinks they need to be humbled. I don't get it?

Why do the empty suits working a desk for a Wall St. firm in NY get more consideration that the autoworkers

[jophus82]

I don't claim to be an expert by any means, but here is my take on it. They are putting their foot down. They are demanding real change and not just handing out cash anymore.

I think the banks just get the money for nothing is because they are afraid of bank rushes and the dollar collapsing. I absolutely do not agree.

[bodoggyT1000]

this guy is totally undermining cenk dang it

[tjtube65]

There is no way those auto companies will make good cars again. What O should do is rebuild the infrastructure of mass transit and contract the auto companies to make trains. That way , the UAW keeps jobs after is workers are retrained, Amtrak is revitalized and provides an alternative to the ridiculous airline industry, and we move more toward a mass transit nation. Have you taken the Amtrak lately? it SUCKS. There is no reason why a country this big should not have a great rail system.

[HammandClov]

Nah, it's good. The guy still gets the point across and a good one at that. Your comment questions whether you are interested in the subject presented or just Cenk's antics.

[widlome]

Hey, if I want to see these issues discussed thoughtfully and professionally I'll watch MSNBC. I come here for Cenk comedy-rant politics.

[HammandClov]

True, but you're missing my point. Cenk, despite the jokes, wants TYT to be taken somewhat seriously. This isn't the Daily Show. And you're sorta insulting it by making it sound like a sideshow. You take MSNBC seriously when it broadcast crap like what's Britney Spears doing lately or what was Hillary Clinton wearing today? TYT is supposed to be an alternative, the people's news source ,etc.

[widlome]

Oh don't get me wrong, the guys at TYT do great alternative news, and they often have an interesting angle on things. It's just that there are lot of other sources for that, but there's no alternative source of Cenk!

[HammandClov]

Agreed.

[sugarpuddin88]

This yrs Gov budget is 3 trillion dollars

Over half of that money is allocated to Dept of Defense; (msg me for the citation)

Lets reward the industries that make big mistakes

Because America is a socialist country for corporations!

That way America will be completely unable to compete in the world economy

We are at the non-sustainability point of Democracy!

Now NORTHCOMs homeland defense force trains on US soil to combat civil unrest in the States

America is entirely bankrupt

[HulkSmashPunyHumans]

Are there even ppl putting these cars together anymore?

Last i heard it was all done robotically.

And FUCK these CEO'S.

The only way i would support the auto maker's bailout is if they are all stripped of their CEO status & wealth and demoted to company janitors.

[witzkeyman]

let them go under. we don't need to have inflation because we're creating more money for these losers.

[Etimos]

Yenno what, i can actually say I support FORD's move in this. 9 billion in credit is not that much for a big auto-manufacturing company. I like the fact that they're not actually asking for money, and I hope that this economic situation makes them actually consider making GOOD cars for a friggin change.

[cellardoor70]

whats Union power got to do with anything??? seriously dude u gotta be frackin kidding me...

[riotriotriot55]

what union power means, is that if the unions did not use their power to raise their wages and benefits and to pay their past employees and spouses, than maybe this mess wouldnt be created.

thats what a lot of people see it as, now its far more complex than that, but he brought up the various areas of the entire situation.

[TheMediocreAtheist]

Har

[rikestard]

1st,,,pff!

[AimiriZ]

sad...

[rikestard]

lol, i got robbed

[Lullybean]

first!