Comments on: Ben Stein Votes "Yes" On Big Three Bailout

Says Gov't Must Save Detroit To Avoid a Depression

[jt_lancer]

PLEASE steal my tax money from me so that the government can bail out an inefficient company who pays its employees $70+ per hour in benefits and wages!

After all, it''s not like I have bills of my own to pay.

[cbsblogger]

1/ The USA is borrowing 10+ billion a year to give to either Israel (pop 6 million) directly, or as bribes to its neighboring countries of Egypt and Jordan so that they don''t harass Israel and we can''t spend $25 billion to maintain American jobs and our nation''s defense? Give me a break. Executive must be fired though.

2/ We hand out 700 BILLION dollars of bailout money to the Hank Greenbergs of AIG, Bear Stearns and Goldman Sachs and these NYC money changers have aggresively worked to sell out the USA at every opportunity.

http://www.newswithviews.com/baldwin/baldwin431.htm

[geneonlbk]

I never heard that the UAW objected to Detroit spending as much on lobbying lawyers as the Japanese spent on technical engineering. Its too late now I believe. The Japanese and Indians and Koreans will fill the void with their own auto factories so few jobs will be lost.

[jackbardol]

I agree with Ben we need to assist GM, Ford & Chysler.

My reasons

1. It is a loan we will get paid back!
2. The Foreign car companies all developed smaller fuel efficient cars in their home markets because their governments taxed fuel to conserve fuel. We have not done that.
3. The pension benefits of UAW retirees while good are not as good as our state and federal employees.
4. For every UAW employess making a good blue collar wage there will be thousands of 14 dollar and hour workers who will loose their jobs with a bankruptcy.
5. Bankruptcy is not an option for these companies in this environmnet. Nobody will buy a car from a bankrupt company.
6. Over the last few years toyota & Nissan have entered the pick-up truck, larger SUV market in the USA. Why CHEAP GAS!

The lack of a government energy policy, the lack of banking regulation, and the lack of spending control have gotten us into this mess. The source of the problem "US Congress".

[mattboynton]

I make about $14 per hour and it infuriates me that taxes might be taken out of my check to pay for some walking-dead dinosaur company like GM and $73 per hour UAW workers. They refuse to make quality vehicles with good gas mileage that are more affordable than the competition. They are just an international company like Honda in Ohio (Mexico plants, etc). When our kitchen puts too much salt and ruins a dish we don''t pick out each grain -easier to wipe the slate clean and start over again without all the baggage. If they get a bail out, I want one too. Bailing out is moral hazard -it rewards bad decisions -look it up. We need to put our efforts into fresh new companies that have a more environmental focus. It makes me want to almost cry that the guuvment just wants to reward the status quo of wall street fat cats auto execs & UAW members that feel entitled. Sure the transition will be painful -but as the song says it has to be a catastrophe (temporary) TO GROW!!! Go USA down with GM. Senator Shelby others in Congress and an apparent majority of Americans agree with me.

[mattboynton]

I make about $14 per hour and it infuriates me that taxes might be taken out of my check to pay for some walking-dead dinosaur company like GM and $73 per hour UAW workers. They refuse to make quality vehicles with good gas mileage that are more affordable than the competition. They are just an international company like Honda in Ohio (Mexico plants, etc). When our kitchen puts too much salt and ruins a dish we don''t pick out each grain -easier to wipe the slate clean and start over again without all the baggage. If they get a bail out, I want one too. Bailing out is moral hazard -it rewards bad decisions -look it up. We need to put our efforts into fresh new companies that have a more environmental focus. It makes me want to almost cry that the guuvment just wants to reward the status quo of wall street fat cats auto execs & UAW members that feel entitled. Sure the transition will be painful -but as the song says it has to be a catastrophe (temporary) TO GROW!!! Go USA down with GM. Senator Shelby others in Congress and an apparent majority of Americans agree with me.

[mattboynton]

I make about $14 per hour and it infuriates me that taxes might be taken out of my check to pay for some walking-dead dinosaur company like GM and $73 per hour UAW workers. They refuse to make quality vehicles with good gas mileage that are more affordable than the competition. They are just an international company like Honda in Ohio (Mexico plants, etc). When our kitchen puts too much salt and ruins a dish we don''t pick out each grain -easier to wipe the slate clean and start over again without all the baggage. If they get a bail out, I want one too. Bailing out is moral hazard -it rewards bad decisions -look it up. We need to put our efforts into fresh new companies that have a more environmental focus. It makes me want to almost cry that the guuvment just wants to reward the status quo of wall street fat cats auto execs & UAW members that feel entitled. Sure the transition will be painful -but as the song says it has to be a catastrophe (temporary) TO GROW!!! Go USA down with GM. Senator Shelby others in Congress and an apparent majority of Americans agree with me.

[idlepugilist]

It was only a few years ago, it seems, GM was offering the public apologies for making vehicles that were, in comparison to the rising foreign competitors, substandard in many ways. Their committments to improving brought: The GM purchase of HUMMER, with a healthy advertising budget, and the fellow gas chugging 10 cylinder hemi''s by Chrysler. Ford just tried to catch up with their own immense suv''s. It''s not that the BIG 3 are incapable - the leaders are resistant, and choose to market to a shrinking crowd who prefer Average over Avalon.
If we bail out Detroit, it will have to be under the contingency they will match Toyota''s quality and best Toyota''s fuel efficiency - in all their vehicles.
If we don''t bail out Detroit, there should be plans to convert the shops over to making Toyotas and KIAs, which should still keep most current Big 3 employees in the assembly line.

[element51]

The last thing I want to see is people who have given 30-40 years of their lives getting shafted. But at the same time I have serious doubts that the American auto industry can rise to the occasion. There is pleanty of blame to go around. Back in the 70''s we were given a red flag warning of what was to come but when Mr.Carter tried to warn us he was laughed at and called a fool. Then when Reagan came along it was time to party again. And we did. For a brief time there was an effort to develop better mileage but it didn''t last very long. Then the SUV''s came along and fuel efficiency was thrown out the window. So what to do? Commom sense tells us that we need the auto industry but at the same time we need an auto industry that can get things done. I don''t know what the answer is but I have reached the point where I don''t trust anyone. I''m still waiting to see where the emergency 700 billion bail out went. We were told that if it didn''t pass AT ONCE the country was doomed. But what happened to it. I wager that the fat cat Wall Street guys are splitting it up as we speak. So I''ll wait and see. I''ll do that while I watch our standard of living slip a little each day.

[joepack61]

The auto companies only sell what the consumer will buy. "The customer is king." The consumer is to blame for the SUV mania that lasted until $3.00 gas. The U.S. auto companies have about a $2,000 per vehicle disadvantage against the foreign transplants because of pension costs, etc. When the consumer shifted away from SUVs the U.S. companies lost much of a profitable segment but were holding on with cars like the Chevy Malibu, Ford Fusion, etc. Then the alternative fuel discussions and realiteis picked up to the point where GM was covering all bases with development of every concievable type of vehicle. It takes billions to develop vehicles, so the risk is now astronomical. Bet wrong one time too many, and there goes your last billion in cash reserves. Then the financail crises hit and car sales plummeted across the market 25 to 45%. Give the U.S. companies short -term bridge loans until next spring.

[tgvblue]

Ben, you have sensible comments, but today I need to differ with you.

The American auto industry has had ample time and money to become competitive and have repeatedly demonstrated that they are incapable or unwilling to take a responsible approach to automotive production. Their problems are well known. Since, as a taxpayer, I and my children and grandchildren will have to help cover that debt to the financial industry, I clearly say NO to the auto industry.

Ever since I sat in gas lines in 1974, I have waited for either the American auto industry or our government to do something substantial about making sensible autos or an energy policy. For a while American cars did improve. Then the loopholes and SUVs took over and here we are.

Bankruptcy did not stop people flying most of the American airlines and many would still buy from a bankrupt GM. In fact, I think the autoworkers unions require purchase of American cars, don''t they?

The jobs that the American auto manufacturers lose, if they close, will be picked up by the manufacturers remaining unless our auto consumption drops by 30%-40%. If that drop in demand occurs, the American companies will have to close in any case.

Ben, natural forces should pertain to the American auto manufacturers.

[markangeloo]

They are just like the railroad industry
from the last depression--extinct

[mikezembill]

Maby we can just walk and save tons of money. GET A HORSE TO GET TO WORK.

[bm6005]

We can either save them or "pay for the funeral". And pay you will. As much as I''d rather let the top execs dangle from a rope those 3 million people out of work really will run us into a depression. I spent 40+ yrs in mfg and "trust me" we will ALL pay dearly for any automakers demise. Force some controls on mgmt, the unions and move on. Also, hang all the WBA''s!

[grigjd3]

Load of horse-***. If it''s true that "what''s good for GM is good for the country", that''s a relationship we need to do everything possible to break. We are talking about a company that is literally addicted to bad decision making and inefficiency. I for one do not want my fate attached to that. I agree with Ben Stein that we need to be concerned about our ability to make tanks and trucks for war and that is EXACTLY WHY WE CANNOT TRUST GM!

[messiahx4eve]

Listen folks, no matter what WE, the PEOPLE, say, decide, or demand, guess what walks and guess which talks? For years, the oil companies and Detroit have monitored each other in the profit margins, why stop now? Let the oil companies bail out Detroits'' big three and let them LOSE their money instead of us.

[nothappyatall]

Now there are plenty of good reasons to say no. After all, the Big Three have made every mistake in the book: far too lush employee contracts, poorly designed and poorly built cars that often burn too much gasoline.

Meanwhile, the Asian and German automakers with plants in the southern U.S. do a far better job at making cars people want to drive."

Time for Detroit to go away and come back lean and mean with an under $15,000 car that works right, lasts, doesn''t look like KRAP and gets 100 MPG.

My ''89 Olds gets better MPG than many of today''s NEW cars, my ''82 Civic got better MPG still, so if an ''82 Civic can get that high a MPG why is i 20 years later Detroit STILL can''t get it right with carsthat get at least 75 MPG???

They are in cohoots with the OIL CO''s and a direct conduit to them.

[billh971]

Well I was against it. I am an independent that voted for Obama. I have disagreed with Ben Stein a lot, He is Mr. Republican, Nixon speech writer Ferris Buller win Ben Stein''s money bigger than life personality. But he has it right. Their suppliers, and many other workers that would fold. I agree when Chrysler wanted money in the 70''s they got it. But please remember Lee Iacocca got paid $1 a year and stock bonuses. That is steping up to the plate. Give the auto makers the money with stipulations lower wages and benefits for the employees and $1 a year for the ceo''s and bosses. If they don''t take it, well they need to go under. They UAW workers are way overpaid and all CEO''s are really overpaid. I have a 1998 Taurus 40k miles. Trany went out. All the mechanics laugh about Fords Taurs and Sable axod trany. Ford has given us the Pinto. GM the Vega, the Checette. The only new car I have had was an 85 Dodge Charger. Junk. Bought the Taurus to give the USA a chance. Let me down. I drvoe Toyota vans for 300k miles. Very little problems. Even I have a Ford Festiva, (KIA Mazda Ford import 1993 155k super car 43mpg). Fire the bosses and the engineers at the Big 2 12. Hire the CEO''s of Honda and Toyota. Hire the engineers who design the componets of Toyota and Honda. It is not the American worker. He builds great Japaneese cars in Mississippi and Tennessee and all over the US.

[ubrew12]

Bankruptcy. Rewrite the labor contracts. Break the Big three into the smaller thirty. Add domestic guarrantee''s that car owners warrantees will be honoured even if the new company goes under.

We need to save America''s domestic auto industry. Ben is confusing this with saving the Big Three. Indeed, saving the auto industry may require bankruptcy of the Big Three. These guys are suffering from multi-decadal noncompetitiveness and substitution of Congressional access for innovation. Handing them money will do nothing to change their way of operation. Only competition will do that.

BTW, I''m very much a liberal and believe that redistribution of wealth makes society stronger and better. Still, it isn''t lost on me that competitiveness is what makes capitalism great; not what the Big Three have been doing the last 20 years.

[ddaryl1]

no 3 million jobs includes all the hotels, bars, restaurants tha tsurround these plants and part manufacturers in the USA alone...

the affect would be disatorous, not to mention that all those reitred workers woudl lose there UAW pension and be forced over to the pension protection act that would pretty much halve their pension checks which would cause another round of forclusures, bankruptcies, and slew of elderly workers who gave 30 - 40+ years of thier lives to work to end up destitude and livng in card board boxes.

When will many of you learn that th emiddle class is the foundation fo this country and the more you weaken the middle class, andkill good paying jobs the worse this country is going to be.

Wisen up fools