US Auto bailout rejected
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- ETM0
@ forcetwelve. Some people need big vehicles for large families or their occupations. The problem was when housewives thought it was great to drive these tanks that can seat 8 people as daily drivers to run errands. Or guys who think they need full size trucks, but never put a thing in the bed.
I'll admit, the biggest douche bag mistake was the 'Hummer'. They were pure excess. There was not a legit use for those things.
- TheBlueOne0
Dangerous Question: If Bush goes ahead and bails out he Auto Industry anyway by directing Paulson to use the TARP monies, what the fuck do we need Congress for anyway?
- ukit0
A few years ago everyone HAD to have a SUV. Driving through my parents neighborhood in the suburbs there was one of the things in every single driveway.
- they chose to and its dumb. There should be special licenses for that........tedismyfav
- I admit I drive one and live in the burbs, however i also have a cabin and i do use mine for offroading.....its not just to look "cool"tedismyfav
- cool or show affluence like all those dumb hummers and escalades and land rovers.tedismyfav
- dMullins0
I could honestly care less whether a bunch of families at GM lose their jobs, and whether or not a bunch of big-wig execs have to take massive pay-cuts.
It's about high-fucking-time that people realized the corruption that goes on every day in the under-belly of our backwards Capitalist society. That includes everything from making automobiles, to managing stocks on Wall Street, down to the guy making your sandwich at Subway who pockets your money instead of actually ringing you up. We've become a money-obsessed culture over the last two decades, and it's about time we got our priorities straight, and the little people own up to what they've let happen to their country, and fucking do something about it instead of whining like bitches about unemployment and bail-outs. Get serious about your life and positively affecting change in your community -- locally, regionally, nationally, whatever.
Whining with your hand out accomplishes nothing, and I would like to thank the Senate and Congress for bitch-slapping these three mismanaged corporations who think ANY American owes them a fucking penny for their failed business ventures.
GMC, Ford, Chrysler -- blow off.
- Yea you don't care because it's obviously not your family or friends... so you blow off.nicole_marie
- The full blown loss of those 3 could move the US from recession to depression. Enjoy that.ETM
- so you're gonna pay for the food and clothes my family needs in the meantime? While i positively affect change?tedismyfav
- Accept responsibility for your actions.dMullins
- Maybe your family could start shopping at a Goodwill instead of Malls every weekend?dMullins
- do you shop at goodwill dMullins?lvl_13
- so you only hate the GMC division?ribit
- My mom worked for chrysler for almost 30 years and was suppose to get retirement soon. Not sure what happens now.Frosty_spl
- Yes, I do shop at Goodwill often. Very often.dMullins
- Andrew_D0
I suspect MacLaren McCann as a whole, collectively shit their pants over this. The only sites my friend over there works on are GM.
- tedismyfav0
Many of you here aren't seeing the BIG picture. Its not about 3 companies that had shitty management...it's about the 100's of companies and millions of workers that didn't make bad decisions but will still be out of a job and livelihood for their familes if it doesn't pass. Where are 5 million people gonna get new jobs?
Yes I agree foreign car companies have done better but it wasn't always like that. A large percentage of foreign cars are made in the US by US workers so all you non americans need to realize, even your cars by in large come for here. The car industry effects the whole world not just "us here in the USA"
Also open your ears. It's not a hand out like mom giving you $20 for christmas...its a LOAN, meaning it will be paid back. Its not the same as the bank bailout...not even close. That was a mistake...this bailout would not be. But...you'll see.
- loan? that will be paid back by these guys? when has THAT ever happened?sputnik2
- sputnik20
i detest the hummers, but in case you people didn't know it's just a suburban with new body panels. and nobody complains terribly about suburbans...they've been around for ages.
yammering about who buys what sized car to do X or Y with is missing the mark. their cars are poorly union built, pathetically designed by accountants, that's why they don't sell and that's why they need to file for reorganization.
- also, if they file for reorganization very few people will lose their jobssputnik2
- nicole_marie0
I could care less about why they produced the Hummer or why there are not more Hybrid's. Yes changes need to be made, better choices and I am sure they will think longer and harder before they make shit cars again.
All I know is my friends, family are going to be losing their jobs, retirement and Michigan does not offer any other jobs for them.
- ETM0
Big 3 go under. Welcome your full on depression.
Someone needs to develop a better aid strategy than a full blown bailout. It can't just be ignored.
- blaw0
Collection of random related thoughts:
• The auto industry affects a deep portion of the working economy. Obviously a lot of people are going to lose their job, and that is bad for everyone.
• Not all American vehicles are shit. My dodge pickup is nearing seven years old and runs great. I'm hoping to get another five years out of it. I'd bet I get more than that.
• Not all American vehicles are large and having a large vehicle is not necessarily a sign of excess. I drive a pickup because I use it. Try hauling plywood with an Audi. Not to mention four-wheel-drive is pretty much standard for winters around here.
• Lawmakers were all for dumping cash into Wall Street, the effects of which are under debate, to say the least. Is the auto industry a victim of "remember what happened last time we did this"?
• Will the auto industry/buying public be better or worse off fending for themselves?
- mightcould0
Get the oil companies to bail them out...
- mightcould0
- Was a great movie, and a sad demise to the electric car. Just like medicine, there's no cash in the cure.dMullins
- TheBlueOne0
Unfucking real...
http://bloomberg.com/apps/news?p…
"The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral."
he American public is just a bunch of fucking patsies for these clowns...
- Thank you, someone who agrees with my limited scope and point of view for my arguments.dMullins
- ETM0
I am constantly in awe how many non-Americans think that only America will be drastically affected by the loss. Just like what is going on now only is affecting the States, right? Lets not forget the Depression, was a world wide event. I am not American, but I can see the ramifications it will have world wide to have such large world-wide employers disappear in one shot. It will takes years for the other manufacturers to fill the gaps. And then watch quality drop as they scramble to fill such demand. All vehicle prices will also skyrocket as demand soars.
Metal works, plastics, mould and die companies, parts makers etc etc will all fold. Yes, there will be new demand in time, but most companies can't weather the transition. It's gonna be bad.Steel, iron and aluminum prices will drop further, mining will be hurt
That's just a tiny bit of it all. It's all connected. Its a world economy.- If Ford went, they own near half of Mazda and might take that as well unless someone bought it out.ETM
- http://www.independe…TheBlueOne
- keiTai0
random thoughts:
- what about the finance of a car? How does average joe do that, via a loan or savings??
- why does the auto industry needs the $14 billion for? paying their employees for doing what??? producing more cars where there's no demand for anymore?
- Obama gets a plate full of sh#t
- i do feel for all those people who might lose their jobs