Comments on: Chrysler CEO: We've All Made Mistakes

CBS Evening News: Katie Couric Interviews Robert Nardelli On His Bailout Proposal

[fiberglass3]

The biggest mistake that the US auto industry made was in not building what we wanted - Electric Vehicles !
The GM EV-1 had a range of 160 miles.
Everyting I own is powered by electric.
Let the future begin NOW.

[txgrouch2007]

Another news source is quoting the venerable Barney "Meltdown" Frank as saying:

Rep. Barney Frank, D-Mass., ... as chairman of the House Financial Services Committee, said Obama is "going to have to be more assertive than he''s been."

http://news.yahoo.com/s/ap/20081205/ap_on_go_co/congress_autos

Hey, Barn - LET THE GUY TAKE OFFICE FIRST!!!!

[tomar0317]

I agree with Henius... in the long run, we put/left the elected officials in office. Either way you look at the auto request of bailout, unless we force our representatives to go after what their constituents demand, it''s our fault.

[easeup-2009]

No - they make, on average, $28 an hour. Their take home is probably $20.

Why would you think their salary would be reported on an "after tax" basis? Since when does anyone do that?

When they said their "take home pay" they were talking about the pay they actually earn.

Posted by IwasHungry68 at 09:26 AM : Dec 05, 2008

Did you READ it? It said "TAKE HOME"--Come on, hungry.....do you not know what take home pay is?

[easeup-2009]

So you''''re saying that the autoworkers who make $27.81, have NO TAXES taken out of their checks?

Posted by IwasHungry68 at 09:04 AM : Dec 05, 2008

No--I''m saying they take home $28/hour, which means they probably make over $35/hour.

From one of yesterday''s stories on THIS site:

"Take-home pay at U.S. automakers now averages $28 an hour - close to what Toyota, Honda, and Hyundai pay their workers, Reynolds reports. It''s the Detroit-negotiated health and pension benefits that have changed the equation. Factor them in and labor costs are $73-dollars an hour for Detroit, but only $44 for non-Detroit producers. "

We all should pay for our mistakes... the problem is when a lots of other people(read engineers, fabricators etc.) have to pay with us. As much as it may feel like natural justice, it is inadvisable to "cut off your nose to spite your face".

[henius-2009]

It''s not about the CEOs. If that were the case, then we as Americans should have voted everyone out of Congress this past November. But As usual, us dumb, believe anything culture just votes them back in. The mess the auto industry is in is based on the mortgage/banking industry''s bad "gambling" judgement. Just like Enron, if its too good to be true, then it''s not. The past few years of growth were a pipe dream that is now a nightmare. Where were all these smart Senators then?

[easeup-2009]

The auto workers are not over paid they make about 27.81 per hour and that is not an unreasonalbe amount. I make a lot more and many other do too. But I am not an exec so I really do work and don''''t let my people suffer to try to get a bonus.

Sorry nice for those of you who want to believe in Sean, Rush, Bill, Ann, or Glen and the rest of the nut case neo cons but it is ending you had your chance and you blew away all the good will that was given to you.

Posted by antoniof123 at 08:24 AM : Dec 05, 2008

They make $28 AFTER taxes--which is insane for unskilled labor.

[a_witness-2009]

Let see Union''s not going to give up their Bank or their wages or huge benifits. Company can only give up so much. This all equals no change in company. this is the biggest Dog and Pony show just to cover the fact that Congress is still going to give them the money at our expense. You can''t be so stupid not to believe that Nancy and the boys are not getting something under the table for their efforts. Nothing is free in Washington, everything is for sell, especially in Congress.

[antoniof123]

The is a classic example of poor management. Until companies start treating employees as people fostering loyality they will suffer.

But not them Ameirca it is the worker. We just laid off 500 people this week. How many more will be let go for the rich to stay rich. This is there fault, I have a friend whos father work for 1 company right out of the military. See if that happens now and don''t try to blame the Unions or the employee I am sick and tired of that excuss and that is all it is.

The auto workers are not over paid they make about 27.81 per hour and that is not an unreasonalbe amount. I make a lot more and many other do too. But I am not an exec so I really do work and don''t let my people suffer to try to get a bonus.

Sorry nice for those of you who want to believe in Sean, Rush, Bill, Ann, or Glen and the rest of the nut case neo cons but it is ending you had your chance and you blew away all the good will that was given to you.

[cricketmk3]

Yes, we''ve all made mistakes and we pay for them. We are not bailed out or rewarded with millions of dollars.

[craigh9]

I truly hope that at least one of the congressmen ask 1 simple direct question of the big 3 today. They are all trying to made a direct connection that if they do not get the "Bridge Loan" that it means the end of the american atuo industry.
Ask the question - If the final decision is to NOT approve these bridge loans will you close your doors?

The big 3 may hem and haw about it for a minute but the truthful answer would be - NO! They would file chapter 11 in an attempt to reorganize.

Providing a loan based upon promises from managment and labor to work together and learn from their mistakes is akin to giving the wolf a hen and rooster to repopulate the chicken coop after he ate the entire flock.

NO BIDGE LOAN!!! Chapter 11 is the answer, it protects the business from creditors, it unbinds the business from contracts it can''t afford and is dragging the companies down, and it puts oversight in effect so that the CEO''s CANNOT make the same pitiful decisions they have made in the past - basically PROTECTING them from themselves.

[unlresources]

Here''s another CEO, Nardelli, that can easily work for $1 a year. *** with a severance package like he received from Home Depot he should be able to live comfortably for life. This is just another example as to why the business sector is in the crapper. What''s happening here is companies rewarding CEOs that are unable or unwilling to lead a company. Let Chrysler die a slow and painful death without using the taxpayers "hard earned" money.

[akirayamanak]

As an international opinion,
While it must be hard for the American to accept below my opinion, I dare to suggest one.
Fundamentally speaking,
The public sector don''t always have to rescue a private company, Chrysler,but must guarantee the nation against losing job as much as possible.
So,as in England, I recommend the nationalization for Chrysler to keep full employment and manage to endure the recession as one nation.
And I believe, as it were, the Chrysler Division within a nation will recover the ''self-conclude(or independent) ability'' in the future.
Then, the public sector shall "liberate"(it''s a good skill of America!) the Chrysler Division from the nationalization to the market.
Above is my fundamental economic perspective in the extraordinary crisis.
Practically speaking, What make the nation remember the wartime(economy) would also make the nation solid, sober and independent from soft, illusionary and dependent.

[ctla567]

No bail out until all executives of D3 are fired without compensation. Each of D3 CEO is paid millions of dollars for mistakes each one of them made. There is just no way a CEO making more than $10 million plus benefits can talk labor into accepting pay and benefit cuts as it should. Actually D3 labot is relatively underpaid if pay ratio of D3 CEO vs worker is compared to that of US based foreign auto makers.

[boatdocster]

Nardelli: Well I think, look, we''ve all made mistakes.

Agree, and the US auto industry has not learned from theirs in over 20 plus years. Toyota and Honda showed them competition back in the 70''s, but Detroit failed to listen.

My girl''s Acura RL, 55,000 miles, zero problems. Daughter''s CRV, 89,000, zero problems. Son''s TL, 122,000 miles, one EGR valve issue covered under warranty. My BMW 750, 82,000 miles, one cracked plastic radiator, covered under warranty.

I travel a lot and have driven a ton of rental cars. I''m not impressed with Toyota despite their market share, the car was lame and had zero personality and did not do anything well.

Most of the US cars that I''ve driven as rentals were mediocre at best and often poor. Fords, Chevy''s and Chrysler''s with parts falling off doors, trim mismatch, rattles and water leaks at 5,000, 10,000 and 15,000 miles. Cadillac seems to be doing well - had them as rental cars a couple of times and they are nice.

After his run at Home Depot, Nardelli would be the last person I would give 10 billion dollars to...

[tallinson]

"Chrysler CEO: We''ve All Made Mistakes..."

Yeah! And most of us have paid dearly for some of those mistakes! NOW IT''S YOUR TURN! STOP YOUR OBNOXIOUS WHINING AND TAKE WHAT IS DUE YOU!

[lloydbest1]

Nardelli''s $210 MILLION severance package from Home Depot pretty much says it all.
I don''t know what he did with all that loot but if he had any stones at all he would donate the entire kit''n''kaboodle as well as any other holdings to an escrow account or blind trust that would insure if he does get his welfare wish and Chrysler goes belly up anyway; he would, himself, be left with nothing but the clothes he''d be wearing that day.

[ozarkbard]

NO BAILOUTS! LET THEM FALL!!

Well, I listened to this on the news tonite. I wouldn''t give this guy a nickel! He didn''t give a straight answer to a single question. He just sat there and blew smoke out his a**.