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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: elroy5 (Jan 03, 2009 9:25 am) Maybe it is because he has never gone to Congress whining about competition from imports or looking for a bailout. |
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If anyone should be bailing out the automakers, it should be the big oil companies. They are having obscene profits, and they would be gone without the auto companies.
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Replying to: Smoothie (Jan 03, 2009 10:29 am) They are not now with oil under $40 per barrel. There will probably be some oil companies showing a loss. Even when Exxon had their biggest year it was not even close to the profit made by Microsoft. It was about equal to Coca Cola. The auto makers were making lots of money during the dot.com bubble selling big SUVs. They did not save for a rainy day. I say let them fold up and go elsewhere. We do not NEED the Big 3. If GM and Chrysler fold Ford will have a good shot at becoming profitable. Not room for all those auto makers. |
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Replying to: gagrice (Jan 03, 2009 10:17 am) Ballmer? He's famous for throwing chairs, among other things. Gates didn't discover the need for lobbying Congress until the anti-trust mess started bubbling, and Microsoft quickly made up for lost time on those efforts. But we digress.... Out on the line, "Thousands out of work and plants with no signs of life. It's what Lansing can expect at its two GM plants for the next month. "It's discouraging. It's almost despairing," said UAW local 602 president Brian Fredline. He says this latest round of layoffs could be the worst yet. With no jobs bank to fall back on, employees may struggle to stay on their feet. "There is not a jobs bank to go to anymore. That was one of the fundamentally proactive things the UAW did to remove our safety net." Rough Month Ahead For GM Employees (WILX)
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Replying to: steve_ (Jan 03, 2009 10:57 am) Boo hoo, now they're responsible for their own safety net, just like us ordinary mortals. They should have tossed it away themselves: PR-wise it's too much like a "golden parachute" to go over well.
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Replying to: bpizzuti (Jan 03, 2009 11:24 am) That is for sure. Welcome to reality. We have given money to half dozen members of our Church until their Unemployment kicked in. It is going to be rough. And those that did not stick their head in the sand over the last several years will do fine. Those in the UAW that lived paycheck to paycheck are just plain stupid. I can understand someone with a low paying job living like that. Not a fat cat UAW member making $100k per year. |
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Replying to: steve_ (Jan 03, 2009 10:57 am) But it's not all bad news. Those employees will each receive about 360 bucks a week in unemployment from the state, in addition to sub-pay provided by GM and the UAW. Put those together and workers should get about 70% of their take home pay. Not too bad for sitting at home. I lost my jobs 3X in 5 years during poor economies when the companies I worked for couldn't make a go of it......I didn't get a bailout. The companies I worked for were incompetent and deserved to close down - a bailout wouldn't have helped them. |
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At the taxpayers expense??? Why does Bush deserve this?? He is already a wealthy man. Why does any politician deserve money from tax payers after they serve??? I mean yes many CEO's in Detroit and in other industries are making more money than they are worth and it is driving America into the ground. But what about the Golden Parachutes? What about pensions? What about the fact that most of the US polticians are millionares and put their money in foreign banks so that they can evade paying taxes????
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Replying to: harddrivet (Jan 05, 2009 9:11 am) why does George Bush sr? Why does Jimmy Carter? Why does Al gore? Why do any of them? Because we set on our as# and let them! Because were lazy and just complain and don't do any thing about it. Thats why! |
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Replying to: harddrivet (Jan 05, 2009 9:11 am) Because they write the rules.
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