US car maker auto industry bailout

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VoraciousDude
November 20, 2008

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The US auto industry needs to be rescued to prevent catastrophic ramifications to our economy if it were allowed to collapse. Millions of jobs, businesses and contracts across America are at stake.

Some ways to make the rescue package for the auto industry work as well as to protect America and American taxpayers interest:

1) All 3 of these bozo CEOs have got to go and their management to be shaked-up and they need to present Congress and taxpayers w/ a sound business plan for immediately marketable high tech alternative fuel vehicles or technology currently in RND to make those type of vehicles for sale to qualify for rescue package. Those Concept stuff Do Not Apply!

2) A good portion of the loan is to be set aside to protect jobs and health benefits of auto workers in America. These high tech vehicles need to be made, right here in the good ole US Of A.

3) No blank check is to be issued. Only a High interest loan benchmarked against profitability. If they fail to reach the profitability benchmark, their interest rate will continue to rise.

4) The regulations, repayment and interest of these loans are subject to congressional oversight and to be managed by a new subcommission of the Treasury. Taxpayers and govt then get their $ back via tax rebates annually until the entire loan is paid off.

5) Provisions attached to prevent executive pay raise, bonuses and other useless perks w/ this rescue package.

6) Provisions to provide automakers help to bring down cost to manufacture alternative fuel vehicles. i.e Cost of Chevy VOLT, which can run 40 miles on electricity ought to be brought down to around $20k - 25K so that it can be economically affordable for Americans, provide jobs and reduce foreign oil consumption.

7)Tax increase on oil companies to help pay for the rescue package.

In essence, there is nothing Socialistic about this rescue package. This is all just a big business proposal that pays itself and an unprecedented opportunity for taxpayers to invest in America and provide incentive for auto industry to get off their rear-ends and think outside the box, If they want their companies to survive.

Category: News & Politics

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emforty2 (10 months ago) Show Hide

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Toyota unseated GM as Worlds #1 last year in 2008

despite toyotas shut down and production cuts.

They unseated GM on a BAD economy GM is talking about

viclam (10 months ago) Show Hide

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ermmm...is GM still number one car maker in the world still?! lol

mozaks80 (10 months ago) Show Hide

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didnt these guys fly in with their private jets?

Ian7570 (11 months ago) Show Hide

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So, one scenario is that it goes bankrupt, restructures into something sleeker or is replaced by something sleeker. The other scenario is that it becomes a bottomless taxpayer subsidized welfare pit for people with little education getting paid $40 for a job an 8 year old could be trained to do in 15minutes.

I'm guessing bottomless welfare pit for overpaid workers.

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emforty2 (11 months ago) Show Hide

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GM was losing money the last 10 years and lost 30% of its marketshare under the current ceo which is paid $16M plus benefits, golden parachutes, several corporate jets etc.

wow i didnt know you could underperfrom and still make millions in America while driving a giant company on the ground

masticina (11 months ago) Show Hide

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How situations change,

I might hope that through an chapter 11 bankrupty they can stream their processes and well get with the times.

I mean it get with the times, sure SUV"s and Trucks are cars that sell for allot meaning ..large gains. Gains going to shareholders and CEO's NOT the quality of the product.

The real issue with the big three is simple..the quality has gone haywire..they didn't know their market..and didn't get with the times. So why not let them go bankrupt?

DarthMai (1 year ago) Show Hide

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Why are these people so clueless? Federal Government is going to fail the economy more by more spending like bailout, stimulus package(formerly known as welfare)the value of the dollar will drop drastically and increase prices of all commodities including imported goods. Other countries will drop (get rid of) their dollars. It is not only this, Democrats plan to increase taxes on gasoline and Diesel taxes to a fixed rate no matter how low the crude oil is. They are planning $4-5/gallon.

DarthMai (1 year ago) Show Hide

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While ordinary workers like me receiving less pay, automobile workers and retired auto workers are receiving a lot of benefits and UAW, the union who pushed the benefits too much and limiting profits of automobiles are to blame. Why should our tax money be used to bail out union dues to UAW and bad decisions of the 3 automobile companies? This is not only immoral but sad. They should file for bankruptcy protection and get rid of the unions and examine their profitability.

roscoe85cj (1 year ago) Show Hide

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LOL .. hey, the only 'morons' here artist are the lazy fucks like you that think a high school elducated auto worker is deserving of the $70+ per hour (with benefits) that these pampered fucks make to build cars nobody wants ! haaa ha ha

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US car maker auto industry bailout

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