US Auto bailout rejected
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- TheBlueOne0
Cheney weighs in:
"Bush personally lobbied recalcitrant Senate Republicans after Vice President Dick Cheney failed to round up support Wednesday during a contentious two-hour meeting.
"If we don't do this, we will be known as the party of Herbert Hoover forever," Cheney told them, according to a Senate Republican aide, evoking the president whose inaction is widely blamed for helping trigger the Great Depression in the early 1930s. "
- What a wiener.designbot
- it's a little late to be trying to reclaim your reputation, you dick.monkeyshine
- "known as the party of Hoover forever"... No, you will always be know as the Bush party forever.IRNlun6
- Frosty_spl0
Its not just the Big 3 that are going to burn. Toyota stock took a 10% drop this morning. You brits need to take your heads out of your asses. =)
- We fucked up our car companies years and years ago.chossy
- touche. haha.Frosty_spl
- chossy0
Now you guys are making good noises.
- SteveJobs0
bail them out, but give every American a share of their stock in return.
also, ensure their plan is to eliminate all but one 8 cylinder models from their line ups.
each should provide a viable plan for ensuring that at least 80% of their production vehicles use an alternative fuel source by the end of 2010. this aggressive timeline will require a bigger workforce for the automakers as well as relevant 3rd party's.
ALL executives with paygrades above 500k, should take a significant paycut to help ensure the survival of the company.
All private jets should be sold before bailout begins.
Appointed czars who will report actions within each company - their communication with the government should be transparent and within public view.
finally, a gm and chrysler merge should be seriously considered.
- I likemonkeyshine
- or just sell them to bmw or vw....obsolete
- designbot0
Anyone have a link to the actual proposal? I don't think it's publicly available. If I recall correctly, the main part of the "plan" from these automobile manufacturers was to start producing "smaller more economical cars" instead of focusing on trucks and massive SUV's. wtf kind of plan is that!
Might have been a good one, 10 years ago.
- harlequino0
I wouldn't feel bad about bailing them out with taxpayer cash if it came with the concession that the manufacture of pretoleum cars will be illegal in the US by 2015 or so. Change yer shit up.
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- BonSeff0
Do you really think this shit will be Unionized?
http://www.theautochannel.com/ne…
- monkeyshine0
First off, I don't see anyone cheering for the demise of these companies. However, I think it is very wishful thinking to believe that this bail out will stop layoffs. There are going to be layoffs. And, as it stands now, it seems that this bail out is just creating this illusion that everything is going to be okay. The auto industry has no plan other than more of the same. They have no viable business plan.
I'm not saying that nothing should be done; obviously something has to happen...I just don't believe the auto industry should be written a check to go be as incompetent as they have been.
- I guess what I am saying is that bailing them out seems like the better of bad options...ukit
- well there was this one http://www.qbn.com/t…ian
- gustavfive0
So if GM, etc. fails, what is going to happen with the law of supply and demand? from a steel and computer standpoint... won't that spike the prices for Toyota and other manufactures?
Not to mentions DrB's point about unemployment... I'm not for the bailout for the CEO's benefit, I want it for the worker
- designbot0
ukit, with all do respect, I don't see anyone in here "cheering" that this bailout didn't get passed....or that these automobile manufacturers are going to fail.
I think most people realize that either way this went, there are potentially harsh consequences. The question is, which is the better solution.
- CALLES0
so trnasformers are going to be toyotas and hondas? they cant pay for the movie right?
- brandelec0
may be renewable energy will create 2 million jobs
- fyoucher10
Gonna miss the Caddy's.... :( They are awesome and well-made cars despite some of the posts about American made cars.
- designbot0
Right, it really is sad. I feel for the families that will be affected. Having kids myself, I can't imagine what it must be like to be the only income for your family and lose your job.
Hopefully this will drive real innovation and spark some entrepreneurs to start their own businesses. There is also potentially an incredible future for this country in alternative fuels and other renewable energy....and of course automobiles that utilize these. And so, I think this failure has the potential to produce a surge of jobs this way in the future. But it will not happen overnight, of course.
- ukit0
I wonder if those of you cheering that this doesn't happen will still be cheering when the economy drops off a cliff because everyone at GM has lost their jobs.
Even Bush and Paulson realize how dire the consequences could be, it's not for nothing that they are considering a "backup" bailout using TARP funds. I don't think Bush is in bed with the auto unions, they are doing it because they realize what the consequences will be.
- DrBombay0
If you have 2 million people out of work collecting unemployment compensation, there is your $15 billion bucks.
- the state pays unemployment, not the fedsBonSeff
- And when the States go bankrupt?TheBlueOne
- im just sayin- if you want to talk hypotheticals, knock yerself outBonSeff
- Ca-li-forn-ia!Mimio