1.) Bash a Republican, then agree with him at arms length
2.) Bash the CEO without facts, then "give them credit" for not taking the money
This guy is so far up his own ass that he has uses his nostrils as a periscope.
Maybe the CEO decided not to take the money because he knew exactly what that would mean. That money comes with so many govt strings that he knew their company would no longer be their company or investors company. Rather it becomes a govt puppet.
Ford didn't need the bailout money? Oh really? You all forget that Ford lobbied just as hard for that money to be given to GM and Chry. Why? Because if they failed, so would the suppilers, the SAME suppliers that feed Ford and if those suppliers were gone so would Ford be gone. So don't sit here and say Ford didn't need that money. They did. They did all their borrowing before all the trouble on Wall St. and thats why they were in better position to weather this storm.
They decided not to take they money because they knew the government control that would go along with it would ruin the company. You know how profitable the Post Office is? Every company Obama takes over will be just like that. Or whoever the Pres is when there is a takeover.
Every Ford I ever owned when I turned the key I expected it to start, and every GM I ever owned when I turned the key I expected it not to start. Every GM I have ever owned has been a curse, and every single Ford has served me reliably for hundreds of thousands of miles. I won't bother commenting on the bailout speculation, but I will say that I like Ford. The only problem is that as good as Ford has been to me, my Toyota has been even better, and does everything better.
Ford, you don't need Mr. Ozama's help; don't let those financial towers enslave you in the name of business. The only one who can help you is you.
Thank you, Ford, for creating safe cars. That'll boost sales ... by the free speech from satisfied customers like me! You can't buy better advertising than free speech in a free country by grateful customers. Plus, it's free!
How about some Henry Ford-style ingenuity? Develop clean fuel cars, and you'll lead the world market to a better future.
I treasure my Ford Windstar van. I bought it for its five-star safety rating (since I'm a Mom), and OMG, did it earn those stars! It helped to prevent an accident that would have been so horrific -- if my Ford van and camping trailer hadn't leaped so beautifully onto the shoulder -- that a good many people would have certainly died, including my loved ones. Instead, the tractor-trailer + jumbo pickup head-on collision didn't happen.
Where's Henry Ford when we need him? America needs jobs!
So this is a FORD bashing VIDEO? The Young Turks are no better then CNN,MSNBC or FOXX. I wish all lawyers and Fake News such as yourself would be at the bottom of the ocean. Maybe the air would be cleaner from all the shit spewed.
Everyone, Ford is Now the Num1 auto seller, Without a bailout. The things in the video are false, but no one wants to work for a dollar a year. If did have something to do with it, then it did. So its quality of life. But more of it was how ford managed the situation, it fired some ppl, so more could have jobs. Closed some factorys, so others could stay. Other companies were pussies under stress. Now look at it, Poniac is going under, They all have to close more factories and fire more ppl
this guy is so stupid and is just trying to connect with others that dont have their facts straight ford came to the table and said we dont need it now but if the economies gey any worse we want to know the money is there and it was fords CEO that said if they have to take the gov money that he will work for one dollar a year this guy is such a moron and anybody that was taken in with his bullshit are just as pathetic and ignorant as he is this is 2009 people get some facts for your selves!!!!!!
and i was so proud of us then ,as a country as one ,and it wasnt what bush did ,or the republicans ,or even obama ,its us our bickering ,our hate ,stupidty,they enjoy seeing us suffer like this and we help them ,sucides ,killings ,deprssion,hell ,tthey dont need to invade the united states ,thiers no need for us to worry about that ,hell cause well been done killed ourselves off this earth before that happens,or ecach other,a liberal and consertive war!!!!!!!! did i say i was proud my mistake
we americans need to check ourselves ,we cry over being insulted ,then what the hell are doing ,now,were making ourselves look weak in front of these countries ,thats why were a joke to them ,we used to handle things together after the 911,did we blame the republicans ,or the democrats,were thier liberals and conservatives than no! cause we all banded together ,and let other countries know we will live ,and die for our country ,and fight to defend it against anyone ,that was our sytrength ,
who would reject free cash ... Fords acts in its own interest, it's the Government who's "dumb" (or who knows, maybe Ford just tried to save its empire, ownership in foreign companies, etc)
If GM and Chrysler restructures and renegotiate the union contracts for less money... ford can now re-negotiate the union contracts at a lower wage table. And ford wont have to do any work. That will bolster their bottom line and cut overhead. Ford is praying that GM and Chrysler go down. Ford still controls the truck market and i still making plenty of money.
are ceo's and 24 people down chewing up all profits, is oil so scarce that car companies cant make money paying factory people decent money, hey, did factpry people ask too much when times were good,,, are we fucked????, what is the next fucking bubble/ green green green shit?? fuck no not is 2009.2010, 2011, 20000000......... fuuuuuckkk nooooooo
I believe Ford rejected the bailout b/c it's market cap minus a low package would only get it deeper into negative terretory deeming it insolvant. Remember, unlike GM and Cerberus, Ford has already mortgaged everything it has including it's Ford logo.
we could always hope that ford wised up and realized the bailout would give teh feds control of their company... or they were greedy bastards, take your pick
fuck ur toyota and hondas they are shit and cost the same as a ford a new tundra cost the same as a f150 the f150 is better built i would rather own a f150 than a shitota and a i don't think toyota has been the number one seller for 20 ford has been and toyota is struggling also their sales have droped just as much as the big 3 and i have a 97 f250 with 400,000 on it and still going with the 5.8l gas foreign cars will never be as good as american
Not Ford. Their quality has drastically improved over the years. And have reached Toyota's and Honda's. And they didn't receive a bailout and are now America's #1 automaker.
And pretty soon the workers won't be able to afford their own products. Not saying the unions couldn't stand to be regulated better but unions are a corner stone of any well-run modern economy.
the unions are not doing anything. Retired workers get 85% of their salary for sitting on their asses. they need to re-negoitate the pension plan or else the big 3 is screwed.
Again, the unions in the US need major reorganization I agree but getting rid of them altogether is foolish. It's like saying "my car broke down so I'd better not use cars any more."
FUCK THE UAW! Their over inflated labor along with the high cost of living and goverment restrictions on the auto industerie caused this. All unions has long lived out their purpose and are no longer needed and only gets in the way of free market capitalism.
Is this the blame that comes after the country goes towards a depression? The blame should not be on the unions but the squandering of resources on a war that was unjustified. Blame Cheney, Bush, Rove, Rice.
how bout just kick the uaw and not go belly up. the problem with that is that if they go belly up they go belly up workers get cheated and warranty gets cheated and nobody will want to buy a g.m. product for a long time if they can't honor the warranty. if congress was worth a crap they would be going after the union leaders as hard as they are the companies but reguardless Toyota announced on wall street that they are spending $2 extra per worker hour so some of ur argument is bullshit.
I think you're mostly right about this, but I don't think Ford's motivation is entirely about avoiding regulation of executive pay. I suspect that may have been a factor in the decision, but Ford probably has suffered less in the economic crisis so far than GM and Chrysler. After all, Ford is still asking for a massive line of credit. The main reason is that Ford has been doing better and they don't need it now. Hard to believe, I know, but true in this case.
Democrats never have the balls to take on tough issues that aren't popular. Republicans always have to step in do the dirty work even though they know its not popular with the majority. THAT'S WHY I AM A REPUBLICAN because I'd rather lose an election than lose a war and lose tax-payers money.
A lot of the republicans in the south are in states with Toyota, Honda, BMW, Volkswagen plants and are sticking up for these foreign manufacturers and could care less about the future of the US's ability to manufacture. I do care about this countries ability to manufacture therefore I want to support US industry but I am glad the Republicans are playing devil's advocates; this will help insure the money isn't wasted by the CEO's of Ford, GM and Chrysler.
Let's not forget that the Japenese and European car makers pay there Executives and Management far less than American car makers pay. Plus they have a more efficient business practice, without the burden of health insurance. The government takes care of that.
Unions are a big part of there businesses overseas, plus they are real Unions...not the pretend to be Unions we have in the US.
When I got laid off in Europe my union payed 90% of my pay for a year and payed for re-education. REAL UNION
It's not a BAILOUT, it's a LOAN. Ford is doing well and thats great! It's not all UAW. How about the fact that Japense companies don't pay for health insurance.GOVT does! Think that may affect the domestics bottom line?
If the made-in-America Toyota blue collar workers salary is half the salary of the union workers who build American cars, then why isnt the cost of a foreign car half the price of an American car?
The blue collar pay scale in Detroit is higher than in the south because the cost of living is much higher. The senators who blocked the loan are from those states with foreign car manufacturing companies that were enticed by huge tax breaks. These greedy, near-sighted slime-balls dont care about the rest of America. They would love to have all cars manufactured in their own states.
Ford is different. Unlike the others they have a new (successful in his previous job) CEO and Ford is in much better shape globally. It has some good models. But still maybe indeed BECAUSE they are in better shape greed sets in and they don't want to have any rules and rather risk thousands of jobs in the hope that they can keep their lavish executive pay. GM and Chrysler don't have that hope so they have no choice.
Ford didn't want/need the bailout money anywhere near the way that GM/Chrysler did. They were only requesting a line of credit, that they would use IF THEY NEEDED IT.
They dropped the request for the line of credit in order to try to bring the $ requested from congress down (was 32B, now it's 14B) and ironically, by dropping their request they actually convinced congress that maybe all 3 didn't really need it as much as they originally said they did.
The joke really is on the US, because the cost of the bailout is already at 8.5 trilion dollars if you include all the pledges and guarantees given to the financials.
Am I the only one who's thinking that the interest on the US national debt is actually going to be the thing that's going to bankrupt the US? The debt is about 20 trilion (including guarantees) so that would make the interest about 1 trilion on a national budget of 3 trilion when they make use of the guarantees?
Cenk, you are ignorant. Ford hit near bankruptcy BEFORE the other companies and was able to get financing before the credit crisis hit. Unfortunately, the bond is now virtually worthless to investors - which was one of the first dominos to fall in the CDO collapse. Cenk, if you would like to be better informed on this issue, shoot me a line.
yah why bailout a company with the ceo still in place that ran it into the ground in the first place, you want a drastic bail out then you company should restructure startung first with the firing of its management
Actually you're an idiot. The deal cut with auto unions dictated such high wages.
And was I talking about Ford? No...I was talking about the bailout proposal in front of the Senate moron. (WHICH FAILED!) You know nothing of economics. Bailing out the housing industry was vital to the economy. The US auto industry was and is going to fail regardless of this bailout. There isn't a high enough demand for these vehicles, which means that they're still going under. Let them collapse.
By the way, when did unions become a bad thing? Do you people not realize that were it not for unions, companies would be paying people with company store credits and ears of corn? Take a look at the historic relationship between laborers and owners in this country and tell me how unions are a bad thing.
how fucked are the people of detroit? they were forced to give money to the government to bail out wall street and then that same government took their jobs away!
Unions were needed back when they were started, but in the 70s and 80s they became entirely too powerful. I agree that the CEOs do not deserve multimillion dollar salaries and bonuses, but the workers in unionized plants are costing their company substantially more than the non-union plants, which is why the companies cannot compete in a world market.
This is going to be the last big joke on America. 700 plus billion that went god knows where to people that manufacture and broker debt, while a mere 15 billion to save an industry with tentacles in every aspect of our society. The ripple effect of aut industry failure is going to be HUGE. No matter your profession, get ready for some really hard times and maybe even the end of the world as we know it.
Cenk, you are wrong about this. If we don't give them the money they will fail. We gave 700 Billion to the banks WITHOUT CONDITION!!! and suddenly republicans want to crush the unions! I guess they didn't consider the millions of other workers who depend on this industry who are not union! This is not good! The working class can not get a fucking break and this will break us for sure!
The banks didnt have to beg... I'm against ALL bailouts! Even a $1 bailout is unconstitutional.. You are watching Americas last days as a super power. Hey,, we let it happen..
Ford took a second mortgage on their company 6 months ago because they saw a cash crisis coming. Ford was looking to pay off that second mortgage with a lower cost loan from the government. That is why they went to D.C. with tin cup in hand. Ignorance is always found on TYT. Good thing I clear it up for him.
Ford is not asking for the bailout for themselves, its well known fact they are the one company that is bleeding the least money in this situation. If GM goes under, that means all the suppliers that depend on GM for their means to produce their goods go out of business. Those same suppliers, are the suppliers for Ford and Crystaller. All three are in it.
I don't think that Ford backed off of the bailout request because of their salaries going down to a dollar, I think it was partly because this plan is sub-par with a lot of strings attached. Someone probably reviewed the plan and realized that the plan would do them no good.
They are taking this 14 billion dollars from the "green fund" which was designed to help the auto industries go green.
Does that make any sense?
There was no fuss when Wall St. asked and got their bailout of 700 BILLION!!
Mullaly said when they first went to Congress that they were there because the other two were there. That has to do with the suppliers - if GM goes down - their suppliers go down too - and many of those same suppliers also supply Ford. What Ford objected to was the ridiculous government ownership of the companies idea. Frankly, your commentary belies a ridiculously limited knowledge of how industry works. And, it's hypocritical, since you didn't give a rat's ass about the finance bailout.
Mullaly said when they first came before Congress that Ford was only there because the other two companies were there. The SUPPLIERS of the three are interlocking. If GM and Chrysler fail...well...if GM fails... it screws the whole industry - no...the whole economy.
How about we allow the US auto-industry to fail? Capitalism...You live and die by your business practices. Socialism...No privatism because business is subsidized by the state.
People losing their jobs during an economic slump isn't a phenomena that is unique to this "crisis." These companies are building cheap cars that no one wants, and are paying workers $75 dollars an hour. That sounds like bad business practices to me. Let them sleep in the bed that they made.
That's like me saying hey dad I need $500 or I will loose my house...and I need it right away...then I call him back 2 weeks later and say....you know about that $500...seems I am not as bad off as I thought....first he would think something is wrong with my head...then he might wonder if I in fact needed it for the house....Now if they are so unsure about their finances that they make a trip to Washington to ask for money and talk about dire concenquences.. then say no how good are they really?
No dummy,fords ceo did not bring up the dollar for a years pay issue. It was one of the congressman at the first hearing that did. What dog do you have in this fight anyways to have to try and lie to everyone about the ceo of ford and his agenda.
You sit there with your fancy set and pretend to bring us the NEWS get the facts,you actually have to read the articles that goes with the headlines..Ford was there to support the other automakers knowing good and well if one or both of them go under Ford would suffer too,if that happened then they would need to have access to some emergency funds. Fords CEO brought up the $1.00 a year pay. You should change your set to resemble a circus because your nothing but a clown. "Ford For Lifer"
i feel for the employees, i really do, but even with the bailouts these companies will most likely fail. They are worth a total of 15billion on the stock market and are asking for 34billion which is just ridiculous. I totally understand that many people will lose their jobs, but is it the taxpayers responsibility to pump money into a failing business just so they can pay their workers for another 8 months? if you work for the big 3 i would start saving half your wage, u wont have a job next year
I can just imagine how that conversation went.. GM and Chrysler CEOs coming to the office of the Ford CEOs. "Hey guys, we have this brilliant idea.. why don't we all go to Washington and ask for some cash! The bankers got it *eaaaaasy*. And it'll help your bottom line!" Ford: ".. well, we don't really need it, but hey, free money is free money.."
Ford wasn't asking for the money even before that offer. They were there to support GM and Chrysler. They share a common supply chain, and a disruption would be disastrous.
I love TYT, but you just don't have all the facts on this one.
Give them no money - cut the cunts loose. They are a drain on the economy. Americans have forgotten how to build economical cars, American cars handle like cruise ships- they can only build Hummers for fatasses.
I'm so SICK of these fat cat CEO's. Yesterday I read a story about a Leahman CEO who was asked to not take his 10 MILLION bonus. He refused. His explanation was that he deserved a 10 MILLION bonus because if he hadn't been CEO the company would have lost more money than it did. Just sickening.
don't you love logic like that? i would have told him you don't deserve the bonus because the company lost money. you get the bonus for making something called PROFIT!
I think it's pretty funny that Southern Republican senators and congressmen had no problem whatsoever with handing Paulson $265 million and asking no questions as it vanished to parts unknown without Paulson being even slightly accountable for it, and now they have a problem with using the remaining "crumbs", $35 million of them, to prop up a legitimate, if woefully inefficient and inept, industry that makes durable goods.
The wages of a union worker have not increased to reflect inflation or increased productivity. Labour costs only reflect 10% of the cost of building a car.
your fucking stupid, just like the other dipshit that said union workers make $70 an hour. my wife is a GM employee and she has had her hourly wage cut $10 an hour. she never made more than $22 an hour. my god the union is not the problem........fucking idiots.
do you know how much the cost per vehicle is the pay of a union worker. $1500, thats it. and they sell their cars for $35000.
the labor cost for the workers is about 5% per car, that aint fucking bad.
I think the host has confused the term "billion" with "million". Sure, a CEO taking only $1/yr rather than $20+ million would be a sacrifice, but that's not the reason the CEO of Ford is considering not taking bailout money in the BILLIONS.
Bailouts (in all forms) are unconstitutional. Ask yourself, do we live in a country of laws or not?
Government has no authority, responsibility, power to redirect taxpayer money to private businesses (even as loans). Bailouts are illegal, but no one cares.
Packard, AMC, Whipper, just some car companies that went under. Gov did not bail them out. I am sure if they go under someone else will buy up the assets. Let them go under and let someone make smaller electric type cars, the idots in Gm are the ones who flooded the road with SUV's, let them pay for the mistake just like a sales person does when they make the wrong call.I hate all the gas wasting SUVs on the road with cell phone using moms cutting me off. Screw the big three their cars suck
Well Ford was never that bad off... I know everybody sees "Ford" and thinks "Fix or Repair Daily," but now they actually make some pretty high quality vehicles... and if you were a company and someone was willing to give you a low interest $9 billion line of credit, wouldn't you take it?
It's not the company who's getting it. It's the CEO's. Because the workers are not going to see a dime out of these 9 billions. They are a part of the company just as the CEO is. And in my opinion this is the root of the problem.
"The workers are not going to see a dime out of these billions"
Are you serious? Just who do you think runs the "Big Three"? It's the UAW. The people. They're not only going to receive most of the money, but they're the reason Ford, Chryser and GM are in trouble.
Union's served their time, but now they're destroying America. Plain and simple.
sorry fuckwit, you don't realize how powerful the fucking union is. Workers are getting paid 80 dollars an hour to attach hubcaps. If the illegals at mcdonalds got paid that much then they would need a bailout too.
Is this something you've researched and know first hand? Or something you heard or misread..because workers are NOT getting paid 80 dollars an hour for doing line work. Whenever you heard that, you should have instantly knew that there was something wrong with those figures.
Sorry, you know nothing on this subject. In addition to their paycheck every employee gets 40,000 dollars in healthcare a year, which is 20 dollars an hour ONTOP of the 30 dollars they already make.They also get the biggest pensions on the planet for hourly workers; 50% of their pay. they also get a MONTH of paid vacation ontop of paid sick leave. All of this comes out to almost 80 dollars an hour to make sure windshield wipers work. Next time do some research before you spread your bullshit.
40k/yr in healthcare? 50% wage to pension? How do you know this? I'm not saying your wrong but common sense says that your numbers don't add up. If a union employee made $30/hr plus a nice pension of $5/hr (which is high)and full medical benefits the employer cost per hr would be around $48/hr/employee. The company would bid those hours at $75/hr and the difference (75-48) covers company overhead, corp/management pay and bonuses, and whatever is left is profit margin for shareholders.
What? The CEO's have been laying off thousands of people because according to them (the CEO's) "The company is losing", while at the same time drawing salaries of 16-20+ mill+benefits from the COMPANY. Never crossed their minds that if only they took less money out of the COMPANY they would not "have" to fire anyone. Maybe even hire new workers and expand the COMPANY'S business.
It's a COMPANY they're running. Not a feudal farm.
Look, I'm not defending the CEO's. They're ultimately to blame. It's their job to run a successful business. But when they fail, we should let them fail. Problem we're enabling their bad business decisions by buy bailing them out.
We should let the companies fail. Let the free-market pick up the pieces and get people in there who understand how to run things.
It's not the g'ments job to make these decisions. As a matter of fact, it's illegal for them to do so.
Monkey, capitalism is like fire. We can't live without it when it is properly controlled. No one in their right mind wants to turn fire loose in the forest and unregulated capitalism is exactly that, a forest fire.
You have your analogies confused. Government is like fire. Necessary, but dangerous. Keep it in a controlled environment and it can serve us well. Let it run amok (like we're doing now) and it will burn everything in its path.
By definition, how can you have capitalism, which is based on a free-market, with government control? How can something be free with restraints? I think too many people are looking for Mommy and Daddy g'ment to solve their problems. Too bad. The American model is dead.
So you just had to put in something about the unions. It had nothing to do with anything in this video, but you just felt It's your duty to do it? Maybe some unions are corrupt. Then of course something should be done about it. But the existence of strong capable unions is essential. The workers - each one by him/herself have no power. Is this the way you want it? Because if it were only up to the "free market" workers would be slaves. Is this what you want?
Unions are a major problem with the current auto industry situation. One example: a laid-off worker gets 95% of their pay, thanks to the Union. If you don't understand how that is a problem, you need to research the matter a little more.
Unions served a purpose, decades ago, but today they are bloated and sucking the life out of the very companies who employ them.
And as for "slavery", just what do you think you are to your g'ment? Think you're "free"? Try not paying your taxes. We're surfs.
I need to research the matter a bit more? This is what I'm doing - searching the matter. Have been doing it for years. Only for some reason I arrived at completely different conclusions than yours from searching the matter.
You don't want to pay "my taxes?" It's not MY taxes you're paying.
If you prefare to live in a bubble - Go inside one. Becausae this is what you're saying - you want to live inside a bubble.
That's the same story as Jamie Dimon @ Chase, he's not looking for money from the $700 billion, at least not yet, because he made $88 million last year, they are all out for themselves, and if you think any thing different, you are a fool.
really need to stop watching this daily.. i've got that 'of coooourse' arising in my head in response to things at times, as well as 'come oooooon'. haha
u always make a good comment,i like when u did the show on the executives making 21 million a year. if they are paying that amount why not get rid of them and get some one for 1/2 a million who would do a better job but u r right, they don't want to reduce thier amount of money when it comes to them.
Could be wrong, but, think Ford has been asking for loan guarantees (vs. loans, or bailouts), from the start. The only thing they've done stupid is (like the others), to arrive for the first round of discussions in a corporate jet.
Otherwise, the Ford chief has been acting like a surrogate for the Ford family... rather than as an overpaid corporate blubberhead.
That's a matter of "corporate culture" that's hardly ever mentioned seriously in discussions of "management style" in MBA programs.
Odd thoughts that I'll just toss out. How about forcing the big three to become the medium 12? Force a bit of competition into the system. Here's another idea, find out why other countries can block the sale of our cars in their countries, whats up with that? Free trade only works one way? And lastly, how about a law that limits total executive compensation to a certain multiple of the average workers salary minus the top and bottom 10%. Think that'd smooth things out a bit?
Those are good odd thoughts. I don't believe in forcing those things, but if we had a fair system that would start to happen. For instance, if we removed tax loopholes for excessive and luxury spending, smaller businesses could compete. If we put a tax on imports that didn't meet our work laws, prices would be competitive. And if we allowed stock holders to vote on compensation, salaries would be realistic.
Indeed. I am also leery of forcing things, but sometimes you have to just hold your nose and do things that are distasteful.
As for those import duties, I also fully agree and would add a sensible enviro tax. If they are straight up pollution princesses, slap them hard. I'm not talking about a carbon tax, I'm talming about a PCB penalty, a Lead levee and a Dioxin duty, no more poison payoffs!
Yeah, that would be great. We need a new materials tax, period, especially on everything not renewable. The cost of all the torn up earth, mercury and heavy metals causing neurological damage, loss of fish, etc. isn't remotely being covered.
Ford did take $7 Billion in Federal Loan funds for it's Motor Credit division.
six6wings 7 months ago
:O Where's Ana?
iEatPorkchop 8 months ago
So lets recap
1.) Bash a Republican, then agree with him at arms length
2.) Bash the CEO without facts, then "give them credit" for not taking the money
This guy is so far up his own ass that he has uses his nostrils as a periscope.
Maybe the CEO decided not to take the money because he knew exactly what that would mean. That money comes with so many govt strings that he knew their company would no longer be their company or investors company. Rather it becomes a govt puppet.
EchoMike03 10 months ago
Ford didn't need the bailout money? Oh really? You all forget that Ford lobbied just as hard for that money to be given to GM and Chry. Why? Because if they failed, so would the suppilers, the SAME suppliers that feed Ford and if those suppliers were gone so would Ford be gone. So don't sit here and say Ford didn't need that money. They did. They did all their borrowing before all the trouble on Wall St. and thats why they were in better position to weather this storm.
597914 1 year ago
@597914 you should check out BLUE OPS: THE CLANDESTINE BAIL OUT OF FORD on net!!!
1970gtosd 1 year ago
@597914 lmao your an ignorant dumbass ima leave it at that
crashdummy40 11 months ago
They decided not to take they money because they knew the government control that would go along with it would ruin the company. You know how profitable the Post Office is? Every company Obama takes over will be just like that. Or whoever the Pres is when there is a takeover.
Beacon342 1 year ago
Every Ford I ever owned when I turned the key I expected it to start, and every GM I ever owned when I turned the key I expected it not to start. Every GM I have ever owned has been a curse, and every single Ford has served me reliably for hundreds of thousands of miles. I won't bother commenting on the bailout speculation, but I will say that I like Ford. The only problem is that as good as Ford has been to me, my Toyota has been even better, and does everything better.
Zyworski 1 year ago
Ford, you don't need Mr. Ozama's help; don't let those financial towers enslave you in the name of business. The only one who can help you is you.
Thank you, Ford, for creating safe cars. That'll boost sales ... by the free speech from satisfied customers like me! You can't buy better advertising than free speech in a free country by grateful customers. Plus, it's free!
How about some Henry Ford-style ingenuity? Develop clean fuel cars, and you'll lead the world market to a better future.
eastariel 1 year ago
@eastariel I bet the CEO himself will read your comment.
bigbigblue111 1 year ago
I treasure my Ford Windstar van. I bought it for its five-star safety rating (since I'm a Mom), and OMG, did it earn those stars! It helped to prevent an accident that would have been so horrific -- if my Ford van and camping trailer hadn't leaped so beautifully onto the shoulder -- that a good many people would have certainly died, including my loved ones. Instead, the tractor-trailer + jumbo pickup head-on collision didn't happen.
Where's Henry Ford when we need him? America needs jobs!
eastariel 1 year ago
ford ftw
BoboboBoBoBoboSucks 1 year ago
So this is a FORD bashing VIDEO? The Young Turks are no better then CNN,MSNBC or FOXX. I wish all lawyers and Fake News such as yourself would be at the bottom of the ocean. Maybe the air would be cleaner from all the shit spewed.
mxfrench12 1 year ago
@ 16,000 thousand viewers dont, worry this tur is dead in the water.
fatasat 1 year ago
I'm a diehard GM man, but I'd buy a ford before I bought a god damn rice burner!
2AmigosMac 1 year ago
Everyone, Ford is Now the Num1 auto seller, Without a bailout. The things in the video are false, but no one wants to work for a dollar a year. If did have something to do with it, then it did. So its quality of life. But more of it was how ford managed the situation, it fired some ppl, so more could have jobs. Closed some factorys, so others could stay. Other companies were pussies under stress. Now look at it, Poniac is going under, They all have to close more factories and fire more ppl
goarmy18 2 years ago 3
this guy is so stupid and is just trying to connect with others that dont have their facts straight ford came to the table and said we dont need it now but if the economies gey any worse we want to know the money is there and it was fords CEO that said if they have to take the gov money that he will work for one dollar a year this guy is such a moron and anybody that was taken in with his bullshit are just as pathetic and ignorant as he is this is 2009 people get some facts for your selves!!!!!!
busterhound333333 2 years ago
and i was so proud of us then ,as a country as one ,and it wasnt what bush did ,or the republicans ,or even obama ,its us our bickering ,our hate ,stupidty,they enjoy seeing us suffer like this and we help them ,sucides ,killings ,deprssion,hell ,tthey dont need to invade the united states ,thiers no need for us to worry about that ,hell cause well been done killed ourselves off this earth before that happens,or ecach other,a liberal and consertive war!!!!!!!! did i say i was proud my mistake
flick770 2 years ago
we americans need to check ourselves ,we cry over being insulted ,then what the hell are doing ,now,were making ourselves look weak in front of these countries ,thats why were a joke to them ,we used to handle things together after the 911,did we blame the republicans ,or the democrats,were thier liberals and conservatives than no! cause we all banded together ,and let other countries know we will live ,and die for our country ,and fight to defend it against anyone ,that was our sytrength ,
flick770 2 years ago
are you retarted? ford isnt just one interest...this is the ceo's selling out share holders for the sake of their sallery...man you are dumb
ncawadias 3 years ago
This has been flagged as spam show
Yeah, $17 Billion to produce ... Nothing. Come see the video about this on my channel if you would like to.
MainstreetEconomics 3 years ago
who would reject free cash ... Fords acts in its own interest, it's the Government who's "dumb" (or who knows, maybe Ford just tried to save its empire, ownership in foreign companies, etc)
semiliteratedgod 3 years ago
Ford has money and doesnt need to be bailed out.
If GM and Chrysler restructures and renegotiate the union contracts for less money... ford can now re-negotiate the union contracts at a lower wage table. And ford wont have to do any work. That will bolster their bottom line and cut overhead. Ford is praying that GM and Chrysler go down. Ford still controls the truck market and i still making plenty of money.
mashtdi 3 years ago 2
Good insights, mashtdi.
Adeon55 3 years ago
are ceo's and 24 people down chewing up all profits, is oil so scarce that car companies cant make money paying factory people decent money, hey, did factpry people ask too much when times were good,,, are we fucked????, what is the next fucking bubble/ green green green shit?? fuck no not is 2009.2010, 2011, 20000000......... fuuuuuckkk nooooooo
imissac44 2 years ago
yeah u were right...........................
dannymarkGT 2 years ago
I believe Ford rejected the bailout b/c it's market cap minus a low package would only get it deeper into negative terretory deeming it insolvant. Remember, unlike GM and Cerberus, Ford has already mortgaged everything it has including it's Ford logo.
ozziindaus 3 years ago
I NEED SOMEONE TO TALK TO
great vid BT
290x 3 years ago
we could always hope that ford wised up and realized the bailout would give teh feds control of their company... or they were greedy bastards, take your pick
ligertheliontiger 3 years ago
by all means if you want to sunk your autoindustry go ahead. the world and the envirolement is a win win situation.
amet1980 3 years ago
get rid of the unions. they are leeching off the Big 3. foreign car companies without unions make better cars for almost half the price.
yangmeister666 3 years ago
all foreing car companies have far bigger uninized rate.
japan has as many union members as usa although has 1/3rd of the population .
same goes for germany.
amet1980 3 years ago
um no they dont, not in the US. all foreign car companies put their factories in Right to Work States.
yangmeister666 3 years ago
the collapse of big 3 has nothing to do with unions you morron.
it has to do with their policies and the policies of goverment since early 90s..
japanese cars aren not competitive beacuse of price.
american cars are cheaper.
they are competitive beacause of different philosophy on products.
now you are paying up the suv bobble.
amet1980 3 years ago
foreing cars factories are too "young" to have unions in.. or dont have retired personel yet.(their operetional hardly streched beyond 10 years)
they also receive massive subzidises from southern states that brought down their operational cost.
amet1980 3 years ago
yes it does, that and the fact that their cars hasn't been as good as foreign cars in the last 20 years. only now has their cars been better.
And american cars are not cheaper. it cost around $70 an hour to build a gm/for/chysler car and only about $35 and hour to make a toyota or a honda.
yangmeister666 3 years ago
fuck ur toyota and hondas they are shit and cost the same as a ford a new tundra cost the same as a f150 the f150 is better built i would rather own a f150 than a shitota and a i don't think toyota has been the number one seller for 20 ford has been and toyota is struggling also their sales have droped just as much as the big 3 and i have a 97 f250 with 400,000 on it and still going with the 5.8l gas foreign cars will never be as good as american
oney135 3 years ago
fords are garbage
REALLYIMAGINARY 2 years ago
you definitely luv american vehicles, there is no doubt about that.
Mediterraneanblue9 2 years ago 4
This comment has received too many negative votes show
fords are shit. I've have never owned one and never will.
rudeawakeningxxx 2 years ago
Yeah unions aren't the ONLY reason that the B3 are struggling
Just happens to be 1 of the major reasons
3 main legs of the collapse
1)Reduction in the quality of cars during in the 80's & 90's (they're quality went down while euros & japan got better)
2)Unbalanced trade agreements b/w countries (China et all sends their cars out but won't let enough N. American cars in)
3)Union contracts which caused too much money to be spent on NOT making cars (retired EE's receiving ridiculous pensions)
SCarter45 2 years ago
Not Ford. Their quality has drastically improved over the years. And have reached Toyota's and Honda's. And they didn't receive a bailout and are now America's #1 automaker.
FordCopChrist1995 2 years ago 15
@FordCopChrist1995 when did fords quality lack minus 04 exploder/explorer
crashdummy40 11 months ago
And pretty soon the workers won't be able to afford their own products. Not saying the unions couldn't stand to be regulated better but unions are a corner stone of any well-run modern economy.
megamarsvin 3 years ago
the unions are not doing anything. Retired workers get 85% of their salary for sitting on their asses. they need to re-negoitate the pension plan or else the big 3 is screwed.
yangmeister666 3 years ago
Again, the unions in the US need major reorganization I agree but getting rid of them altogether is foolish. It's like saying "my car broke down so I'd better not use cars any more."
megamarsvin 3 years ago
Be careful, you need to think about how unions are important they are, if unions were everywhere then thigns would be better
sderenzi 3 years ago
FUCK THE UAW! Their over inflated labor along with the high cost of living and goverment restrictions on the auto industerie caused this. All unions has long lived out their purpose and are no longer needed and only gets in the way of free market capitalism.
FUCK SOCIALIST UNIONS!
ericlebo 3 years ago
Is this the blame that comes after the country goes towards a depression? The blame should not be on the unions but the squandering of resources on a war that was unjustified. Blame Cheney, Bush, Rove, Rice.
hazardbreath 3 years ago
I dont think Ford wants the strings attached to the money either. I think GM should file bankruptcy so they can kick the UAW to the curb.
ndyt 3 years ago
how bout just kick the uaw and not go belly up. the problem with that is that if they go belly up they go belly up workers get cheated and warranty gets cheated and nobody will want to buy a g.m. product for a long time if they can't honor the warranty. if congress was worth a crap they would be going after the union leaders as hard as they are the companies but reguardless Toyota announced on wall street that they are spending $2 extra per worker hour so some of ur argument is bullshit.
Dynamitoextaci 3 years ago
ARE YOU FUCKING KIDDING ME. the democrat congress is just waiting on the kickback money to come in and fuck your ass again.
datzfast 3 years ago
Cenk,
I think you're mostly right about this, but I don't think Ford's motivation is entirely about avoiding regulation of executive pay. I suspect that may have been a factor in the decision, but Ford probably has suffered less in the economic crisis so far than GM and Chrysler. After all, Ford is still asking for a massive line of credit. The main reason is that Ford has been doing better and they don't need it now. Hard to believe, I know, but true in this case.
mudsquid 3 years ago
yeah............
dannymarkGT 2 years ago
"idnit...idnit" LOL!
thepoofer 3 years ago
Democrats never have the balls to take on tough issues that aren't popular. Republicans always have to step in do the dirty work even though they know its not popular with the majority. THAT'S WHY I AM A REPUBLICAN because I'd rather lose an election than lose a war and lose tax-payers money.
thomashm9 3 years ago
thomashm9,
Yep, you got that right, the work the Republicans do sure is dirty. I'd even say filthy and rotten.
averroes1138 3 years ago
Your a republican because your mom was not smart, neither was your dad, and thus when they came together they made a dumb offspring.
Xdanith 3 years ago
lol
SamtheMan0728 3 years ago
Oh my fucking god. Someone give me the bullet to put in Ford's CEO's head. God damn greedy bastard.
Roushfan5 3 years ago 2
This has been flagged as spam show
Sad but true
Starsky5000 3 years ago
Stupid ass liberal.
121black 3 years ago
He is echoing a lot of what the Toyota Republicans are saying. He is intelligent enough to appreciate the role the Toyota Republicans are playing.
jorkjica 3 years ago
Whats a Toyota Republican?
zzzbbb123456 3 years ago
A lot of the republicans in the south are in states with Toyota, Honda, BMW, Volkswagen plants and are sticking up for these foreign manufacturers and could care less about the future of the US's ability to manufacture. I do care about this countries ability to manufacture therefore I want to support US industry but I am glad the Republicans are playing devil's advocates; this will help insure the money isn't wasted by the CEO's of Ford, GM and Chrysler.
jorkjica 3 years ago
Let's not forget that the Japenese and European car makers pay there Executives and Management far less than American car makers pay. Plus they have a more efficient business practice, without the burden of health insurance. The government takes care of that.
Unions are a big part of there businesses overseas, plus they are real Unions...not the pretend to be Unions we have in the US.
When I got laid off in Europe my union payed 90% of my pay for a year and payed for re-education. REAL UNION
skilledbrotha01 3 years ago 3
The Dems are in the unions pocket.
jiggakilla666 3 years ago
this guys a chump
flybikes90 3 years ago
It's not a BAILOUT, it's a LOAN. Ford is doing well and thats great! It's not all UAW. How about the fact that Japense companies don't pay for health insurance.GOVT does! Think that may affect the domestics bottom line?
FNOZMAN 3 years ago
If the made-in-America Toyota blue collar workers salary is half the salary of the union workers who build American cars, then why isnt the cost of a foreign car half the price of an American car?
fpm229 3 years ago 2
The blue collar pay scale in Detroit is higher than in the south because the cost of living is much higher. The senators who blocked the loan are from those states with foreign car manufacturing companies that were enticed by huge tax breaks. These greedy, near-sighted slime-balls dont care about the rest of America. They would love to have all cars manufactured in their own states.
fpm229 3 years ago
Ford is different. Unlike the others they have a new (successful in his previous job) CEO and Ford is in much better shape globally. It has some good models. But still maybe indeed BECAUSE they are in better shape greed sets in and they don't want to have any rules and rather risk thousands of jobs in the hope that they can keep their lavish executive pay. GM and Chrysler don't have that hope so they have no choice.
jpbalkenende 3 years ago
Ford didn't want/need the bailout money anywhere near the way that GM/Chrysler did. They were only requesting a line of credit, that they would use IF THEY NEEDED IT.
They dropped the request for the line of credit in order to try to bring the $ requested from congress down (was 32B, now it's 14B) and ironically, by dropping their request they actually convinced congress that maybe all 3 didn't really need it as much as they originally said they did.
It would be funny if it wasn't tragic.
SybianCentral 3 years ago
@BoilerRush
The joke really is on the US, because the cost of the bailout is already at 8.5 trilion dollars if you include all the pledges and guarantees given to the financials.
Am I the only one who's thinking that the interest on the US national debt is actually going to be the thing that's going to bankrupt the US? The debt is about 20 trilion (including guarantees) so that would make the interest about 1 trilion on a national budget of 3 trilion when they make use of the guarantees?
juhmoeduhr 3 years ago
Cenk, you are ignorant. Ford hit near bankruptcy BEFORE the other companies and was able to get financing before the credit crisis hit. Unfortunately, the bond is now virtually worthless to investors - which was one of the first dominos to fall in the CDO collapse. Cenk, if you would like to be better informed on this issue, shoot me a line.
offramp23 3 years ago
yah why bailout a company with the ceo still in place that ran it into the ground in the first place, you want a drastic bail out then you company should restructure startung first with the firing of its management
tundradave24 3 years ago
Actually you're an idiot. The deal cut with auto unions dictated such high wages.
And was I talking about Ford? No...I was talking about the bailout proposal in front of the Senate moron. (WHICH FAILED!) You know nothing of economics. Bailing out the housing industry was vital to the economy. The US auto industry was and is going to fail regardless of this bailout. There isn't a high enough demand for these vehicles, which means that they're still going under. Let them collapse.
snapura 3 years ago
What counterveiling influence? Michael Moore was saying there should be rules to any auto bailout.
hypnometal 3 years ago
By the way, when did unions become a bad thing? Do you people not realize that were it not for unions, companies would be paying people with company store credits and ears of corn? Take a look at the historic relationship between laborers and owners in this country and tell me how unions are a bad thing.
BoilerRush 3 years ago
how fucked are the people of detroit? they were forced to give money to the government to bail out wall street and then that same government took their jobs away!
bsseidel 3 years ago
Unions were needed back when they were started, but in the 70s and 80s they became entirely too powerful. I agree that the CEOs do not deserve multimillion dollar salaries and bonuses, but the workers in unionized plants are costing their company substantially more than the non-union plants, which is why the companies cannot compete in a world market.
dancefan2007 3 years ago
This is going to be the last big joke on America. 700 plus billion that went god knows where to people that manufacture and broker debt, while a mere 15 billion to save an industry with tentacles in every aspect of our society. The ripple effect of aut industry failure is going to be HUGE. No matter your profession, get ready for some really hard times and maybe even the end of the world as we know it.
BoilerRush 3 years ago 3
Give the companies to the union.
duhCider 3 years ago
I wish I was the CEO of a multi-billion dollar company, then I could ask for more free money from you fucking idiots....
150133 3 years ago
If we just bought out the big three and fired their top fatcat execs it would cost us a lot less.
DrakeMagnum 3 years ago
Cenk, you are wrong about this. If we don't give them the money they will fail. We gave 700 Billion to the banks WITHOUT CONDITION!!! and suddenly republicans want to crush the unions! I guess they didn't consider the millions of other workers who depend on this industry who are not union! This is not good! The working class can not get a fucking break and this will break us for sure!
saully1966 3 years ago
let chrystler and gm go bankrupt and then let ford build more plants and let the workers work there lol so simple
sealhunta 3 years ago
The banks didnt have to beg... I'm against ALL bailouts! Even a $1 bailout is unconstitutional.. You are watching Americas last days as a super power. Hey,, we let it happen..
vdubs4life1964 3 years ago
GOP needs to keep playing bad cop
beornborg 3 years ago
can anyone explain to me WHAT the hell these men do to merit 21 MILLION dollars...besides tank the company - seriously though WHAT?
ccm800 3 years ago
Ford took a second mortgage on their company 6 months ago because they saw a cash crisis coming. Ford was looking to pay off that second mortgage with a lower cost loan from the government. That is why they went to D.C. with tin cup in hand. Ignorance is always found on TYT. Good thing I clear it up for him.
y2knoproblem 3 years ago
Wow, I didn't know this. What a mother fucker the CEO of Ford is!
herogt350 3 years ago
Ford is not asking for the bailout for themselves, its well known fact they are the one company that is bleeding the least money in this situation. If GM goes under, that means all the suppliers that depend on GM for their means to produce their goods go out of business. Those same suppliers, are the suppliers for Ford and Crystaller. All three are in it.
Aylinato 3 years ago
I don't think Cenk has this right.
jhobbz45 3 years ago 2
I don't think that Ford backed off of the bailout request because of their salaries going down to a dollar, I think it was partly because this plan is sub-par with a lot of strings attached. Someone probably reviewed the plan and realized that the plan would do them no good.
They are taking this 14 billion dollars from the "green fund" which was designed to help the auto industries go green.
Does that make any sense?
There was no fuss when Wall St. asked and got their bailout of 700 BILLION!!
slugger975 3 years ago
Mullaly said when they first went to Congress that they were there because the other two were there. That has to do with the suppliers - if GM goes down - their suppliers go down too - and many of those same suppliers also supply Ford. What Ford objected to was the ridiculous government ownership of the companies idea. Frankly, your commentary belies a ridiculously limited knowledge of how industry works. And, it's hypocritical, since you didn't give a rat's ass about the finance bailout.
prospero811 3 years ago
Mullaly said when they first came before Congress that Ford was only there because the other two companies were there. The SUPPLIERS of the three are interlocking. If GM and Chrysler fail...well...if GM fails... it screws the whole industry - no...the whole economy.
prospero811 3 years ago
How about we allow the US auto-industry to fail? Capitalism...You live and die by your business practices. Socialism...No privatism because business is subsidized by the state.
People losing their jobs during an economic slump isn't a phenomena that is unique to this "crisis." These companies are building cheap cars that no one wants, and are paying workers $75 dollars an hour. That sounds like bad business practices to me. Let them sleep in the bed that they made.
snapura 3 years ago
no worker is being paid 75 per hour...you are an idiot and need to die
lionsgateblows 3 years ago 2
That's like me saying hey dad I need $500 or I will loose my house...and I need it right away...then I call him back 2 weeks later and say....you know about that $500...seems I am not as bad off as I thought....first he would think something is wrong with my head...then he might wonder if I in fact needed it for the house....Now if they are so unsure about their finances that they make a trip to Washington to ask for money and talk about dire concenquences.. then say no how good are they really?
prideventures 3 years ago
No dummy,fords ceo did not bring up the dollar for a years pay issue. It was one of the congressman at the first hearing that did. What dog do you have in this fight anyways to have to try and lie to everyone about the ceo of ford and his agenda.
ollowert 3 years ago
You sit there with your fancy set and pretend to bring us the NEWS get the facts,you actually have to read the articles that goes with the headlines..Ford was there to support the other automakers knowing good and well if one or both of them go under Ford would suffer too,if that happened then they would need to have access to some emergency funds. Fords CEO brought up the $1.00 a year pay. You should change your set to resemble a circus because your nothing but a clown. "Ford For Lifer"
micjduff 3 years ago
i feel for the employees, i really do, but even with the bailouts these companies will most likely fail. They are worth a total of 15billion on the stock market and are asking for 34billion which is just ridiculous. I totally understand that many people will lose their jobs, but is it the taxpayers responsibility to pump money into a failing business just so they can pay their workers for another 8 months? if you work for the big 3 i would start saving half your wage, u wont have a job next year
theaphexxtwin 3 years ago
I can just imagine how that conversation went.. GM and Chrysler CEOs coming to the office of the Ford CEOs. "Hey guys, we have this brilliant idea.. why don't we all go to Washington and ask for some cash! The bankers got it *eaaaaasy*. And it'll help your bottom line!" Ford: ".. well, we don't really need it, but hey, free money is free money.."
Namari12 3 years ago
The corrupt and greedy (usually Republicans) have destroyed this country.
darealdjnutz 3 years ago
LOL, I knew to say "Of coooourse!" How fun.
kreskinkun 3 years ago
Ford wasn't asking for the money even before that offer. They were there to support GM and Chrysler. They share a common supply chain, and a disruption would be disastrous.
I love TYT, but you just don't have all the facts on this one.
johnedwards1968 3 years ago
Wasn't Ford the first one to propose the $1 salary thing? I don't know if this sticks, Cenk.
richardshort2001 3 years ago
Give them no money - cut the cunts loose. They are a drain on the economy. Americans have forgotten how to build economical cars, American cars handle like cruise ships- they can only build Hummers for fatasses.
badger5079 3 years ago
I'm so SICK of these fat cat CEO's. Yesterday I read a story about a Leahman CEO who was asked to not take his 10 MILLION bonus. He refused. His explanation was that he deserved a 10 MILLION bonus because if he hadn't been CEO the company would have lost more money than it did. Just sickening.
tworag 3 years ago
don't you love logic like that? i would have told him you don't deserve the bonus because the company lost money. you get the bonus for making something called PROFIT!
thanks for playing :)
hellshade2 3 years ago
Sorry, read billions in my last post.
zorath1970 3 years ago
Gimme a break!
Lets reward the weak in society; that will guarantee a weak society!
The total (inflated) value of GM stock is 3 billion
And they want the US Taxpayer to give them 18 billion!
How would it fix anything? Isnt this a 3 decade old problem that cant be fixed by throwing money at it?
Americans are a stupid socialist country for corporations!
Want to sell autos? Creative-Innovation not money!
sugarpuddin88 3 years ago 2
I think it's pretty funny that Southern Republican senators and congressmen had no problem whatsoever with handing Paulson $265 million and asking no questions as it vanished to parts unknown without Paulson being even slightly accountable for it, and now they have a problem with using the remaining "crumbs", $35 million of them, to prop up a legitimate, if woefully inefficient and inept, industry that makes durable goods.
zorath1970 3 years ago
I am a young Iranian and I love watchng the young turks mashallah
thegreatestbak 3 years ago
This comment has received too many negative votes show
HORRIBLE show, how do people like you make money? I mean really... you're like the typical democrat.... narrow-minded and ignorant.
lundqvist07 3 years ago
Lundqvist07 -
Because people like you are watching!
eincali 3 years ago
the ford ceo is a douchebag!
how about all those people that would lose their jobs?
candycurious 3 years ago
Unions are definitely not the biggest problems. However, they sure don't help making things better.
catherineweiwei 3 years ago
The wages of a union worker have not increased to reflect inflation or increased productivity. Labour costs only reflect 10% of the cost of building a car.
killerbandit 3 years ago
does this include the benefits and retirement costs?
catherineweiwei 3 years ago
your fucking stupid, just like the other dipshit that said union workers make $70 an hour. my wife is a GM employee and she has had her hourly wage cut $10 an hour. she never made more than $22 an hour. my god the union is not the problem........fucking idiots.
do you know how much the cost per vehicle is the pay of a union worker. $1500, thats it. and they sell their cars for $35000.
the labor cost for the workers is about 5% per car, that aint fucking bad.
crowdaddy13 3 years ago 5
restructure and loan at the same time..sounds good to me.
sisforshayla 3 years ago 2
I think the host has confused the term "billion" with "million". Sure, a CEO taking only $1/yr rather than $20+ million would be a sacrifice, but that's not the reason the CEO of Ford is considering not taking bailout money in the BILLIONS.
Bailouts (in all forms) are unconstitutional. Ask yourself, do we live in a country of laws or not?
Government has no authority, responsibility, power to redirect taxpayer money to private businesses (even as loans). Bailouts are illegal, but no one cares.
SugarMonkey528 3 years ago
greedy fuckers!!
CactosS 3 years ago
FUCK Ford.
d3v07 3 years ago
PERFECT tell ceos they have to cut the bottom off their own paychecks before they get bailout money. it worked with ford.
KarateKidX 3 years ago
Packard, AMC, Whipper, just some car companies that went under. Gov did not bail them out. I am sure if they go under someone else will buy up the assets. Let them go under and let someone make smaller electric type cars, the idots in Gm are the ones who flooded the road with SUV's, let them pay for the mistake just like a sales person does when they make the wrong call.I hate all the gas wasting SUVs on the road with cell phone using moms cutting me off. Screw the big three their cars suck
techjob4u 3 years ago 6
AMEN techjob4u!
prodigyat9 3 years ago
Haha, they are cutting you off too, eh?
TheGiantRobot 3 years ago
How about give them like a 1/3 of the money just to restructure and give them the remainin 2/3 later.
LOSTisahorribleshow 3 years ago
Yeah, but they are going to fire everybody first and then restructure. Which will suck horribly.
rainsan 3 years ago
let them go under all 3 of them !!!
craigjkb 3 years ago 5
Total Debt so far---- $8,300,000,000,000
Distance to Pluto in miles 3,666,200,000
we are, and have been, fucked
crinoid1918 3 years ago 2
comment was serious and funny at the sametime.
SupportingMyself 3 years ago
its actually 3.7 trillion miles not billion
Warrows 3 years ago
ooops! i forgot a few zeros
crinoid1918 3 years ago
I agree with Vitter...retool first then when there is an improvment then give them funds to continue thier growth.
luvangel330 3 years ago
Well Ford was never that bad off... I know everybody sees "Ford" and thinks "Fix or Repair Daily," but now they actually make some pretty high quality vehicles... and if you were a company and someone was willing to give you a low interest $9 billion line of credit, wouldn't you take it?
hecklerhouse 3 years ago
It's not the company who's getting it. It's the CEO's. Because the workers are not going to see a dime out of these 9 billions. They are a part of the company just as the CEO is. And in my opinion this is the root of the problem.
avitiltal 3 years ago
"The workers are not going to see a dime out of these billions"
Are you serious? Just who do you think runs the "Big Three"? It's the UAW. The people. They're not only going to receive most of the money, but they're the reason Ford, Chryser and GM are in trouble.
Union's served their time, but now they're destroying America. Plain and simple.
SugarMonkey528 3 years ago
you really have no clue...the unions are the least of the big 3's troubles
but go right ahead...blame the unions and the workers
AND NOT THE FUCKING CEOS WHO HAVE BEEN MAKING BILLIONS WHILE THEIR COMPANIES FAILED
EAT SHIT AND DIE...YOU WINGNUT FUCK
lionsgateblows 3 years ago 2
Nice debate skills. Resulting to personal attacks and name-calling rather than stating any facts to support your opinion.
I do believe you're ignorance is showing.
SugarMonkey528 3 years ago
yeah..this guy is a tard.
Ajnin42 3 years ago
sorry fuckwit, you don't realize how powerful the fucking union is. Workers are getting paid 80 dollars an hour to attach hubcaps. If the illegals at mcdonalds got paid that much then they would need a bailout too.
SAGETSAGET 3 years ago
Is this something you've researched and know first hand? Or something you heard or misread..because workers are NOT getting paid 80 dollars an hour for doing line work. Whenever you heard that, you should have instantly knew that there was something wrong with those figures.
Kduceee 3 years ago 4
Sorry, you know nothing on this subject. In addition to their paycheck every employee gets 40,000 dollars in healthcare a year, which is 20 dollars an hour ONTOP of the 30 dollars they already make.They also get the biggest pensions on the planet for hourly workers; 50% of their pay. they also get a MONTH of paid vacation ontop of paid sick leave. All of this comes out to almost 80 dollars an hour to make sure windshield wipers work. Next time do some research before you spread your bullshit.
SAGETSAGET 3 years ago
You got me. I know nothing on this subject apparently.
Point taken. =P
Kduceee 3 years ago
40k/yr in healthcare? 50% wage to pension? How do you know this? I'm not saying your wrong but common sense says that your numbers don't add up. If a union employee made $30/hr plus a nice pension of $5/hr (which is high)and full medical benefits the employer cost per hr would be around $48/hr/employee. The company would bid those hours at $75/hr and the difference (75-48) covers company overhead, corp/management pay and bonuses, and whatever is left is profit margin for shareholders.
ekbrogan 3 years ago
the problem is education.. retards getting minimal wage no more than 7.50 hahahahahaa.. jealous??
XxShadowCat201xX 3 years ago
That is a blatant lie. The average union worker earns about 25$/hour. Stop spreading the anti-union propaganda.
killerbandit 3 years ago 3
What? The CEO's have been laying off thousands of people because according to them (the CEO's) "The company is losing", while at the same time drawing salaries of 16-20+ mill+benefits from the COMPANY. Never crossed their minds that if only they took less money out of the COMPANY they would not "have" to fire anyone. Maybe even hire new workers and expand the COMPANY'S business.
It's a COMPANY they're running. Not a feudal farm.
avitiltal 3 years ago 3
Look, I'm not defending the CEO's. They're ultimately to blame. It's their job to run a successful business. But when they fail, we should let them fail. Problem we're enabling their bad business decisions by buy bailing them out.
We should let the companies fail. Let the free-market pick up the pieces and get people in there who understand how to run things.
It's not the g'ments job to make these decisions. As a matter of fact, it's illegal for them to do so.
SugarMonkey528 3 years ago
Monkey, capitalism is like fire. We can't live without it when it is properly controlled. No one in their right mind wants to turn fire loose in the forest and unregulated capitalism is exactly that, a forest fire.
sockpuppetsfromhell 3 years ago
You have your analogies confused. Government is like fire. Necessary, but dangerous. Keep it in a controlled environment and it can serve us well. Let it run amok (like we're doing now) and it will burn everything in its path.
By definition, how can you have capitalism, which is based on a free-market, with government control? How can something be free with restraints? I think too many people are looking for Mommy and Daddy g'ment to solve their problems. Too bad. The American model is dead.
SugarMonkey528 3 years ago
"The American model is dead."
As it should be. Laissez-faire capitalism is like a forest fire.
sockpuppetsfromhell 3 years ago
So you just had to put in something about the unions. It had nothing to do with anything in this video, but you just felt It's your duty to do it? Maybe some unions are corrupt. Then of course something should be done about it. But the existence of strong capable unions is essential. The workers - each one by him/herself have no power. Is this the way you want it? Because if it were only up to the "free market" workers would be slaves. Is this what you want?
avitiltal 3 years ago
Unions are a major problem with the current auto industry situation. One example: a laid-off worker gets 95% of their pay, thanks to the Union. If you don't understand how that is a problem, you need to research the matter a little more.
Unions served a purpose, decades ago, but today they are bloated and sucking the life out of the very companies who employ them.
And as for "slavery", just what do you think you are to your g'ment? Think you're "free"? Try not paying your taxes. We're surfs.
SugarMonkey528 3 years ago
What you see as a problem I see as a good thing.
I need to research the matter a bit more? This is what I'm doing - searching the matter. Have been doing it for years. Only for some reason I arrived at completely different conclusions than yours from searching the matter.
You don't want to pay "my taxes?" It's not MY taxes you're paying.
If you prefare to live in a bubble - Go inside one. Becausae this is what you're saying - you want to live inside a bubble.
avitiltal 3 years ago
That's the same story as Jamie Dimon @ Chase, he's not looking for money from the $700 billion, at least not yet, because he made $88 million last year, they are all out for themselves, and if you think any thing different, you are a fool.
JOHNINCOLUMBUS 3 years ago
really need to stop watching this daily.. i've got that 'of coooourse' arising in my head in response to things at times, as well as 'come oooooon'. haha
beccahday 3 years ago
u always make a good comment,i like when u did the show on the executives making 21 million a year. if they are paying that amount why not get rid of them and get some one for 1/2 a million who would do a better job but u r right, they don't want to reduce thier amount of money when it comes to them.
blackshogun9 3 years ago
Could be wrong, but, think Ford has been asking for loan guarantees (vs. loans, or bailouts), from the start. The only thing they've done stupid is (like the others), to arrive for the first round of discussions in a corporate jet.
Otherwise, the Ford chief has been acting like a surrogate for the Ford family... rather than as an overpaid corporate blubberhead.
That's a matter of "corporate culture" that's hardly ever mentioned seriously in discussions of "management style" in MBA programs.
voyeurdug 3 years ago
ford doesn't want the bailout money NOW, but they still want access to a 9 billion line of credit just in case they need it
MIDNIGHTRlDER 3 years ago
We cant have CEO's of these massive companies give their 21mil a year salaries now can we, i mean its not the american way.
abi420 3 years ago
Not if its free money. Isn't you get what you earn the *real* american way.
Unless you just forgot the word 'up' as in give up theyr salaries?
LddStyx 3 years ago
Too many morons are running Corporate America.
georgiaartist 3 years ago
more money into the black hole.
jonz23m 3 years ago
bastards
achampag 3 years ago
Odd thoughts that I'll just toss out. How about forcing the big three to become the medium 12? Force a bit of competition into the system. Here's another idea, find out why other countries can block the sale of our cars in their countries, whats up with that? Free trade only works one way? And lastly, how about a law that limits total executive compensation to a certain multiple of the average workers salary minus the top and bottom 10%. Think that'd smooth things out a bit?
Plutonwolf 3 years ago
Those are good odd thoughts. I don't believe in forcing those things, but if we had a fair system that would start to happen. For instance, if we removed tax loopholes for excessive and luxury spending, smaller businesses could compete. If we put a tax on imports that didn't meet our work laws, prices would be competitive. And if we allowed stock holders to vote on compensation, salaries would be realistic.
TheGiantRobot 3 years ago
Indeed. I am also leery of forcing things, but sometimes you have to just hold your nose and do things that are distasteful.
As for those import duties, I also fully agree and would add a sensible enviro tax. If they are straight up pollution princesses, slap them hard. I'm not talking about a carbon tax, I'm talming about a PCB penalty, a Lead levee and a Dioxin duty, no more poison payoffs!
Plutonwolf 3 years ago
Yeah, that would be great. We need a new materials tax, period, especially on everything not renewable. The cost of all the torn up earth, mercury and heavy metals causing neurological damage, loss of fish, etc. isn't remotely being covered.
TheGiantRobot 3 years ago
Gimme a break!
Lets reward the weak in society; that will guarantee a weak society!
The total (inflated) value of GM stock is 3 billion
And they want the US Taxpayer to give them 18 billion!
How would it fix anything? Isnt this a 3 decade old problem that cant be fixed by throwing money at it?
Americans are a stupid socialist country for corporations!
Want to sell autos? Creative-Innovation not money!
sugarpuddin88 3 years ago