Comments on: Administration Cool To Automaker Bailout

Paulson Says $700B Plan Not Designed For Big Three, White House Noncommittal But Open To New Ideas

[hologram5]

If these companies have factories or plants overseas then they should not get a DIME of our money...

[payasyougo]

For many years the automakers over-committed long term benefits to union members in exchange for immediate term profits. As long as people were buying the product, the over-committed benefits were never questioned. In other words, as long as the here/now/today society was prospering why worry about tomorrow.

Well their long term lack of planning is now biting them.

And your government is acting just like them.

Bailing out the automakers to handle the problem today while ignoring the long term issues to today''s government commitments is just as reckless as the automakers.

Will 50B solve the automaker''s problems or just get them through the next 3 months where they will come back again?

And what about the taxpayer? Why must every problem be solved by the government (read Taxpayer)?

Retailers should be included. What makes a laid off $17 per hour retail worker w/ a family any less important than someone who turns lug nuts for $41 per hour?

Having the taxpayer provide 3 months relief to a problem that is going to last 18 months is no solution - it just spreads the problem across taxpayers - who will have to deal with it later.

Automakers should deal with it themselves now.

[j_flood]

Chapter 11 - forget the bailout!
Chapter 11 - forget the bailout!
Chapter 11 - forget the bailout!
Chapter 11 - forget the bailout!
Look at all the other surviving corporate icons that have taken Chapter 11 to reorganize - no bailout here please

[daniel_yang]

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[daniel_yang]

i''d like to learn english from a native american, please send your YM or Skype account to my mailbox if you have interesting:
[e-mail]. :)

[bnnielsen]

IF IT ISN''T MADE IN THE UNITED STATES WHY SHOULD WE BAIL OUT ANYTHING. THEY WANTED TO MOVE THEIR BUSINESS OVER FOR CHEAPER LABOR SO LET THEM BAIL THEIRSELVES OUT.

[apprxam]

Let''s not fool ourselves. The UAW will lose more members on matter how much money is given to the Big 3. Like the banks, they''re going to pocket the loans for themselves first. I think The US government and Michigan should receive voting shares and dividends for them, force them to sell the foreign companies under their charge. Force GMAC and other financial arms of the companies to reset the interest rate of all loans to help insure, as best as possible, the repayment of outstanding loans and to hekp improve their bond ratings, so they can borrow earlier in the future and preferable rates rom private banks.

[apprxam]

Before any money is given to the Big Three, change must start with the Board of Directors. Fire their arses and get rid of the Executives, en mass, and allow them no greater share withdrawl then any annouced BAILOUT bump in share price. Let em leave broke, just like their leaving the industry. Let new blood move them forward.

Gas is cheap now. $1.99 no need to ride in a sardine can.

Posted by mr22587 at 10:07 PM : Nov 12, 2008
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If gas prices stay relatively low for awhile - it''ll make for a great time to unload that gas guzzling SUV and buy something sensible. The gas crunches will continue periodically - probably getting progressively worse.

[perk235]

GMAC is the financing arm of GM. It, like other financial industries made risky bets (credit default swaps) and is a large part of GMs failure.

Due to stagnant wages, the auto industry was one of the first to jump into creative financing and ended up relying on financing for much of their profits.