Detroit auto bailout? Yes, but fire the CEOs first

[finallytherock]

Ford didn't want the money... so everyone keeps saying.

[MURDOCMULDOON]

WAKE THE FUCK UP PEOPLE

[BartmanMC]

wait Ford didnt get any bailout money GM & Crysler did. GM & Crysler are slum.

[94TahoeDude]

well, fords just shit but it appears that you may be right about some of the GM car makers HOWEVER! gm's cars are very well made so.. its hard to pick a side... plus with GM's total confidence plan we have no idea if that will significantly help them or not...

[BartmanMC]

GM was never really known for there cars. Does the Lumina still exist? did the Malibu ever mean as the big vechile of Chevy? NO. Ford Taraus was huge from when it started till the mid 90s. I love the new Taraus.

[karessong]

This is the kind of thing that i have a major problem with in the government. especially when we are giving trillions of tax dollars to save these people.. Yes the pres only makes 400 thousand but it cost s billions to fly him around and the JAY LENO SHOW was just a slap inour face.. I mean JUST to get them to camp David is a trmendous amount.. So we pay for him to rest.. but not to entertain and be the cute guy..It has to start at the top.. The whole Senate and House do the same kind of thing.

[ShounnenBatto]

I find it unexpected for Obama to fire the GM CEO... I'll be rejoiced when he does the same with the AIG CEO. But I consider my expectations are so damn high.

PS.: Is that or I really have to stop smoking weed.

[karessong]

How can the president say that the ceo should step down for not seeing this come.. The Gv't gave huge tax incentives for small businesses to buy hummers, SUV's, bigger trucks , diesel trucks and then raised the price of diesel fuel..This is all bullshit.. I'd rather spend the money on cars like india is producing.. why do we need cars that travel 120 miles per hour?

[stormsg1]

WANTED

CEO to run multi billion dollar automobile manufacturer.

Responsibilities include managing day to day international business activities, tens of thousands of employees, antagonistic unions and demanding environmental groups.

Salary - $1

Bonus - don't even think about it.

[shonniemichael]

Dont forget about the overpaid autoworkers. Wait if you are an auto worker dont reply you are so brainwashed that ..well.  Just think on this they are paid more than some college graduates for what?

[Hamcarver]

shonniemichael- I just heard a hilarious comment on Lou Dobbs that I'm sure you will appreciate. Lou asks a top economist why the CEO of GM can be asked to resign but not the head of the UAW? His response...Well that may be difficult for a Democrat President whos election was funded by Union workers. It ammuses me how those who favor a political party can turn deaf ,dumb, and blind to the same ridiculous actions being commited by their own party. What a joke!

[hougSTAR]

These airhead CEOs need to get fired, I want a free damn car for giving them my tax money like that!

[01000000]

seen it yesterday!  lets chat

i liked this video :) NS

[pig5689]

Have they no shame? No humility? Smoking $30 cigars, playing golf at the country club while laughing at us stupid suckers. These wealthy SHITTERS need to be stripped of all their assets and thrown in the street with their flabby, naked wifes carrying signs that say: "MY MAN IS A GREEDY, SLUTWHORE-SLUTCHILD! I AM HIS LAZY WIFE, AND I WAS BLISSFULLY UNCARING WHILE MY HUSBAND DESTROYED THOUSANDS OF FAMILIES TO FEED HIS LUST FOR POWER AND MONEY! PLEASE USE MY $3,000 PRADA HANDBAG FOR A TOILET!"

[4210601]

SOMEONE TALK TO ME

lets chat vd

[xsivstress]

Who Destroyed the electric car GM UAW or OPEC ???

[bandit848]

this is the biggest load of crap, lets have Obama fly commercial. note that the planes cost 36 million an cost 25,000 to fly, a far cry from 25 billion. not to mension that government and the unions have put them in this position by not allowing them to hire the best and brightest, and that the union guy with seniority can not be fired for someone who does the job better, so what would be his incentive to do a good job, plus regulations which raise the price of the vechicle...

[Roushfan5]

Perhaps, but Obama isn't begging for hand outs for the US government.

[TKEZN420]

Breaking NewsAuto bailout dies in Senate after compromise talks fail.

Wow...we have BRAINS in the Senate! Wow....the majority were DEMOCRATS! I am impressed!

[Dwyight]

TKEZN420 ... Unfortunately, We have a mental deficient living at 1700 Pennsylvania Ave.

[ianclivewright]

This whole thing about the jets and hybrid cars is smoke and mirrors from the type of anti commercial people who caused this mess in the first place.

The bottom has dropped out of the market, not just the car market, there's no credit left to give and people are not buying cars any more, especially as there's been massive over capacity in care manufacturing for years now.

Only the fittest will survive, and they will be the most slimmed down and efficient.

Giving money delays the inevitable.

[mabus3]

ford dosn't need the bail out money, there asking for it incase they need it. they started restructuring in 2007 and took out a loan at that time. and if you havn't noticed sonce the goverment said they had 700 billion to loan every industry not just the auto combanys have there hand out looking for low intrust loans

[ssnatcherss]

These companies produce a shitty product. It's all about poor management and poor planning. Their engineers spend most of their time doing damage control instead of designing a decent product in the first place...

[bandit848]

its called keeping the price down, they spend time, money, and effort; none of which they have to give out at this time than their cost go up and how do they recoup that loss by raising the price of the product, they raise the price of the product less people buy, less people buy, less money they make, lose enough money and.... tada ch. 11

[ssnatcherss]

I realize they can't afford to change their design process this far in the game.

But if you look at foreign companies, they put in the needed effort to fix problems BEFORE they ever start manufacturing.

[Roushfan5]

Ford Motor Company is rated above industry average, tied with Nissan and Toyota, and ahead of Honda. Although GM is not as good as Ford and Japanese automakers, yet are making fast improvements and is already above industry average. Maybe you should get your facts strait before you comment about these matters. Although GM is not as good as Ford and Japanese automakers, yet are making fast improvements and is already above industry average.

[Cerberus221]

I agree. They cannot compete with the quality and efficiency of cars from here in Europe or Japan. This is like deja vu of what happened to the British auto industry back in the 70s. Let it die America and maybe it will give some people like Tesla a chance to start something fresh that takes the world by storm.

[Baileygeep7]

61% of americans reject your thinking dufus, they know the problem is the UAW. Too bad you went to all this trouble, but its obvious you're in love with the house fairy frank and his democrat partners in crime in congress. No worse fate for an "anti-conformist" to be outed for being a closet democrat party conformist.

[UncleRico13]

You've got to love the hypocrisy!!!

Congress sits in judgment of these companies, be it Auto indurty officials, or Wall Street Execs from AIG, and complain that these companies are poorly run, and that they need oversight.

Yet, the Treasury Department has no mechanism in place to track how institutions are using $150 billion in taxpayer money that the government injected into the banking system.

Maybe we should fix our government before we fix private corporations. What do you think?

[Chacro01]

Nardelli joined Chrysler in 2007 and Mulally in 2006. What would the point of firing these guys? Why do people think that they drove these companies into the ground? Oh, wait, I get it... people don't think, they just say stuff.

[Roushfan5]

But look at all the damnage they have done in such a short time. Its true that to blame them fully for this mess would be like to blame Obama for all the problems in the US on his first day in office. All the same they do share some of the quilt.

[fahs]

How about returning the older MUSCLE cars? Detroit has not put out a good muscle car in a long time...

[nsa5015]

screw muscles cars

[fahs]

Why? Because you don't like them? Many people do, and should be able to buy whatever they want.

[bandit848]

three words, mustang, camaro, challanger

[press1500]

mustang, camaro are pony cars, the muscle would have been the t-bird, and the GTO

[press1500]

If you really, really support the detroit bailout... then go buy a ford today

[bandit848]

I did but the truck only cost 16 thou., now you come up with the rest...

[press1500]

sorry charlie, I sold fords for 2years, well built, good quality, and ugly as hell, nobody bought them

[Dwyight]

press1500 ... Each year, we buy a bad weather vehicle (e.g., SUV or Truck), two sedans, and two sports cars. We have bought two American cars (a Dodge Viper and a SAAB 95) both very pretty but poorly built with abysmal quality. On the other hand, when we stick to foreign cars (Mercedes, Lexus, or BMW) we have no problem with quality or resell value.

[press1500]

um... Dwight, i was talking about us middle class americans with one or two vehicles... like a taurus and a ranger.... lol the foreign alternatives would be honda, toyota, and nissan.... you are waayyyyy into another price point... so how does that viper handle???

[Dwyight]

press1500 ... We are also middle class Americans. I have no idea how the Viper handled, my wife would not let me drive it. BTW, I hate those Japanese cars. We owned a Mitsubishi Starion and the twin turbos literally melted the engine on the Jersey turnpike. The summer heat and the combined engine heat gave my wife something like heat exhaustion. NO MORE Japanese or American cars!!!

[press1500]

Well I like the Mustang, and I was hoping to get one this July when my lease is up. Hang in there Ford! at least til the 4th...

[tooosweeet]

Where can I watch the full second congressional hearing? So frustrating, I can't find it anywhere.

[Deoradhan7919]

Those three Auto Execs sure have nerve! First trip they just needed $25 Billion. The press made a big deal about the jets so on the second trip the execs had to ask for a little bit more, $34 Billion. Im guessing these CEO have cojones as big as coconuts and if they come back a third time its going to be like three Dr. Evils from the Austin Powers flicks. I can just see the headlines now: Auto Execs demand 100 Million Billion, and plan to fly out of town in a strangely shaped rocket.

[SteveTodey]

check out.... GM Killed their BEST product EVER!!

[D5L2]

agreed, they would be killing toyota if they had expanded their electric fleet instead of adopting hummer. But they at the time were just thinking about next quarter's profits.

[jmjfanss]

Because gas was low back in the 1990's, the electric car didn't fit in that era.

[fahs]

Hummer made GM a lot of money. IT was not somethin gthat caused them a great deal of pain.

Oldsmobile was the best selling product line they had, and they elminated it. Maybe he was referring to that...

[bandit848]

killing toyota and the oil industry which would put millions of people out of work and only imploy an extra 20 people to put an extra wall outlet in the garage...

[1955porsche]

sell the us automakers to the japanese, germans or even the chinese, these auto ceos are completely out of touch w reality, they have destroyed their companies w their mega million bonuses,and now these parasites have the nerve to stick the bill to americans who are struggling to pay their bills, they are criminal mafia and must be eliminated, i will never ever buy american ever again. i dont see nissan or bmw begging their govts for money ,.they just go and study what their customers want.

[MountOlivet]

The government does not need to bailout the Detroit auto industry. The reason that they are asking for a bailout is that they messed up and now they don't want to have to accept the consequences of their irresponsibility. The government cannot just give them a blank check. If they are bailed out the government must specify how the money is spent. CEO's should take a paycut and the money from the bailout should go to refit the factories to produce cars with high gas mileage.

[dave4708]

A bailout for the car companies is just plain wrong.We do not need to spend money we do not have.

[abalto]

Please wake up and fire these clowns!!!

[ykw68]

who ever was the congressman/senator that asked if they would fly home commercial...YIPPY!!!! they need to be shown their hypocrisy right in their faces!!!

[paddedshell]

BOOYAH!

Never ceases to amaze me that the critics of "spread the wealth" can grossly misconstrue the intent, but can't rationally justify 5% of the population holding 90% of the wealth like these super wealthy fat cats who probably never broke a sweat a day in their life.

[sleonardelli]

We give handouts 2 banks (Citibank, et al) w/out conditions yet we R opposed 2 bailing out our auto industry? What about the auotworker jobs lost? Anyone receiving a bailout handout should provide a business plan as 2 how they will use that money.

[ykw68]

Those poor autoworkers are being screwed by their own companies!!! They need to get their ceos to step up and make the first sacrafice. I agree w/ you that they need to show some kind of business plan to show how they'd use that money....they'd use it to re-new their lear jets!

[midwesthustle1]

hey that's a good video!

[nwosigns]

Awesome. We gotta keep them honest. Even if we shame them into it.

[SEALs22]

1st...

I believed that it is a good idea to fire the CEO's and give their salary to the workers as well.

Because the executives are not suffering this problem as much as the workers...

[waltermh111]

The upper management arent hurting at all.

The big 3 have been hemmoraging money for years and yet they still got multi-million bonuses as well as millions in regular salary, plus stock money.

Even if the big 3 companies went out of business you can bet the upper management will easily be hired by somebody else to make millions creating failures again.

[SEALs22]

Couldn't agree with you more...

[ykw68]

amen to that!!