Comments on: Aid For Carmakers Stalls; Now What?

Detroit Told To Create Roadmap For Modernizing Industry In Return For Bailout Consideration

[txgrouch2007]

Used to be, when an industry became obsolete and uncompetitive, the skilled workers from that industry found jobs in the NEXT new industry that needed skilled workers.

The skilled radio set makers went to work for the television makers. Then the computer mainframe makers and the computer terminal makers. Then the PC makers.

There was always a HUGE NEW INDUSTRY to absorb all the displaced skilled workers and also all the fresh graduates the schools could turn out.

WHERE IS THE HUGE NEW INDISTRY TODAY that is absorbing all the displaced high-tech workers? What industry will absorb all the displaced auto workers?

Globalization has WRECKED OUR ECONOMY. This is the end of the line. We have been forced to compete with slave labor in other countries. Now there are no jobs left anywhere.

CAN WE JUST STOP THE INSANITY OF GLOBALIZATION NOW???

[geneonlbk]

I am reading that two Chinese automakers want to buy the Big 3. Isn''t it just lick the scumbags who fly their fancy jets, mumbling "let them eat cake" to once again bilk the taxpayers for 25B just before bailing out to the Chinese and taking our money as perks.

[txgrouch2007]

NOW WHAT?

"What" is what happened to the steel industry, the computer memory chip industry, the television set industry, and any number of other industries that are GONE.

Foreman said "These jobs are goin'' boys, and they ain''t comin'' back."

That''s WHAT NOW.

[nolalou]

- Get UAW approval of 15% reduction in salary and benefits across the board effective immediately
- Reduce all management salaries/beneifts by 33% effective immediately
- establish policy that NO ONE within the organization can make more than $2.5M until the governemnt loan is paid in full
- ELIMINATE ALL Bonuses until the government loan is paid in full
- Reduce operating expenses by 15% (corporate jets, junkets, perks, etc,)

Then and only then should they be trusted with $25B of OUR money. After repaying the loan in full if they go back to their usual greedy processes MAKE IT PAINFULLY CLEAR the people of the USA will NOT COME TO THEIR AID AGAIN!

Posted by craigh9

I agree, those conditions and more should be imposed before we loan them one penny. There should also be someone appointed to oversee how the money is spent, to be sure it''s not being used for CEO perks.

Not doing a bailout, unfortunately is probably not an option, since if they go bankrupt over a million jobs could be lost. (not only employees of the auto makers, but dozens of companies that supply services and parts, plus people who work at the dealerships). It could end up costing more just in unemployment benefits, and lost income since they won''t be paying taxes if they don''t work.

[craigh9]

- Get UAW approval of 15% reduction in salary and benefits across the board effective immediately
- Reduce all management salaries/beneifts by 33% effective immediately
- establish policy that NO ONE within the organization can make more than $2.5M until the governemnt loan is paid in full
- ELIMINATE ALL Bonuses until the government loan is paid in full
- Reduce operating expenses by 15% (corporate jets, junkets, perks, etc,)

Then and only then should they be trusted with $25B of OUR money. After repaying the loan in full if they go back to their usual greedy processes MAKE IT PAINFULLY CLEAR the people of the USA will NOT COME TO THEIR AID AGAIN!

[lf1952]

This NOT about Unions, although the labor costs are unquestionably part of the problem.

The PROBLEM is that the business model of all three automakers CANNOT compete with foreign cars - better mileage, better quality, better price.

All three need to declare bankruptcy, get out from under existing debt/obligations, retool for decent/appropriate/"green" cars, lower labor costs to those appropriate for the skills of workers compared to all other US industries and start from scratch.

There is NO WAY any of the "Big Three" are viable businesses. "Saving" them now will simply be throwing good money after bad. They will fail anyway, just further down the road. When it''s taxpayer dollars, that is unacceptable.

[bjcone8559]

Neocons like Shelby would actually gamble the jobs of millions of Americans and the backlash that would produce for the sole purpose of breaking the unions.

Republicans are evil.