Comments on: Pelosi: No Auto Aid Without Accountability

Says Big Three Must Come Up With Austerity Plan Before Congress Will OK Any Bailout Package

[jsd330]

prounion: you hit the nail on the head. Are the japanese supporting the U.S. and our troops in Iraq and afghanistan? (I don''t think so) What really gets me is when I see a japanese car with a support our troops sticker on it or an American flag on it.I try to buy products made in the U.S. although they are getting hard to find. The UAW workers have always been charitable to causes along with most American industries.
How many manufactuing plants do the japanese have here? none. The big three manufacture their engines, transmissions, body parts here and that is why there are so many UAW jobs. Toyota, Honda, Nissen and the rest only assemble cars here, all of their parts are imported. Therefor the probobly only have less then half the employees that the big three have. How many retirees do they have? I don''t think they have been in business long enough to have any, or they have no retirement plans. The big three have been in business for about 100 years. Is it wrong to take care of your employees? or is it work them at low wages and no benefits until they can''t work any more then throw them out the door. That seems to be the mindset of Americans today. If you are doing better then I am, then I hate you.

[itdfactsu]

The case for an auto industry bridge loan

3. The UAW believes that any legislation crafted by Congress to assist the domestic automakers should meet certain basic principles:

A) It must provide an emergency bridge loan to the companies to ensure that they can continue operations and avoid bankruptcy.

B) It should impose tough limits on executive compensation, prohibit the companies from paying dividends, and give the government an equity stake in the companies to protect the interests of taxpayers.

C) It should establish a government Advisory Board that will oversee the operations of the companies to ensure that any taxpayer funds are expended in the United States, and that all expenditures are consistent with the business viability plans and any additional requirements imposed by Congress.

D) It should require the Obama administration, early in 2009, to develop and submit to Congress a plan for the long term revitalization of the domestic auto industry. This plan should involve all stakeholders, and should include commitments by the automakers to retool facilities in the United States to produce more fuel efficient vehicles, as well as approaches for dealing with retiree health care and pension legacy costs and other issues facing the domestic automakers.

[itdfactsu]

The consequences of a collapse by the domestic auto companies would be truly devastating:

3 million lost jobs;

pension and health care benefits cut for 1 million retirees, spouses and dependents;

thousands of other businesses -- dealers, suppliers and others -- would be threatened;

huge pension and health care costs shifted to the federal government;

negative impact on the entire economy, making the current recession much worse;

drop in revenues to the federal, state and local governments, forcing cuts in vital social services.

6. MESSAGE TO CONGRESS: Congress must act in December to avoid the terrible consequences that would result from a collapse of the domestic automakers. It must pass legislation providing an emergency bridge loan to enable the domestic auto companies to continue their operations. At the same time, it should include requirements that will protect the taxpayers, and ensure the accountability and long term viability of the domestic auto companies.

[centerfall94]

Was Obama just lying to us all about the freebies? Did he make all of it up just to be elected? His administration%u2019s going to increase the working man%u2019s taxes by 50% ? ***?! More bailouts and loans endorsed by Obama? Citibank?! Was this the right thing to do?

Posted by TheMasses10 at 11:59 AM

Honeybunches of oats,the president is still Bush. That''s your boy up there.

Pathetic, isn''t it?

[centerfall94]

What happens when the average working man''''s taxes go up by 50% when Obama''''s administration kicks in? Bailouts, loans, handouts directly from the taxpayer''''s pockets are currently supported by Obama and are taking place NOW! We are going to Bail Out CityGroup at a tune of 300 Billion Dollars!? AIG, the Big 3 and then a 50% tax hike?! I might as well quit my job now, then I won''''t have to pay the taxes. And I''''ll sign up for those Obama "freebie" handouts. Where do I sign up? I want my something for nothing now! Holy *****! What''''s next!?


Posted by TheMasses10 at 11:27 AM

Uh-huh. Hold on there, Contrary Mary. How about Obama gets sworn in first before you start talking about your fantasy 50% tax hikes? In your mind he''s the devil, that makes everything you say worthless. Most Americans are willing to give him a chance.

Why do you hate America so much?

[marbru-2009]

There''s lots of small business who have had to go out of business and not necessarily because of poor management - why isn''t big government bailing them (or the hurting American public for that matter) out? What is the requirement for bail-out -- big egos & extreme greed?

[craigh9]

Don''t ask them to formulate the plan on their own

DEMAND:
15% reduction in workers salary/benefits, not reduced numbers of workers, a full 15% roll back - must have UAW approval in hand
35% reduction in management salary/benefits, across the board 15% roll back in salaries/benefits and another 20% reduction in management positions - USA auto companies are overwhelmingly top heavy - streamline the entire structure.
A realistic time line for them to become profitable that is obtainable, not the ridiculous idea that they only need money to get to 2010 when their new lines come out - those won''t make money for years.
A complete "open book" to government regulators that includes sufficient teeth allowing them to halt faulty business decisions by the companies.
Then, and only then, should we consider providing a loan to the automakers

[cbscrash072]

All the auto companies have to do is wait. Congress will bail them out if they see their union supporters getting screwed. If the car companies want a bail out they should turn up the heat on the unions. Demand concessions and make the unions go screaming to congress.

[craigh9]

Posted by TheMasses10 at 11:09 AM : Nov 24, 2008

Keep whipping that dead horse. Obama has nothing to do with this - and if he can''t keep his promises it''s because the Republicans have not only left the cupboard bare - but filled it with huge IOU''s.

[colt8881]

Detroit it PATHETIC !

General Motors is Especially Pathetic !

All 3 Auto Makers rode the SUV & Big Truck Bubble & Big Powerful V-8 wave until until it crested and the bubble burst.

All 3 Auto Makers should have been making smaller cars in the late 1990s.

I am glad Tax Payers are not going to bail out the Auto Makers they dont deserve it.

Today on NPR Radio, This Morning.

We are going to Bail Out CityGroup at a tune of 300 Billion Dollars. What''s Next ?