Poll: Americans Split On Big 3 Bailout

CBS News Poll: Most Believe That If Taxpayers Do Help Automakers, Government Should Have Say In Companies' Management

(CBS)  While a majority of Americans believe that bankruptcy for U.S. automakers would have a major impact on the economy, they are evenly split about the prospect of government financial assistance for the big three, a new CBS News poll finds.

Forty-five percent of those surveyed approve of government assistance for Ford, General Motors and Chrysler, while nearly as many - 44 percent - disapprove.

There is more consensus when it comes to the conditions of any bailout. More than two in three say that if taxpayers do help automakers, the government should have a say in how the companies are managed.

That could have something to do with whom Americans blame for automakers' current problems: While 28 percent say the companies' struggles are due to conditions beyond their control, a far greater percentage - 56 percent - blame management decisions.

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Read The Complete Poll

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And asked if the government should require U.S. automakers to produce more alternative-fuel cars in exchange for assistance, 66 percent said yes.

Despite the divided views on assisting automakers, fifty-five percent predict there would be a major impact on the economy if the companies go out of business. Thirty-five percent say there would be a minor impact, while eight percent say there would be little or no impact.

The automakers' economic struggles may be having a negative impact on their sales. Thirty-one percent of those surveyed say the companies' economic problems make them less likely to purchase a car from U.S. automakers.

Only 11 percent of those surveyed say the companies' economic struggles make them more likely to buy cars from the automakers. Fifty-five percent say it makes no difference.

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This poll was conducted among a random sample of 1,098 adults nationwide, interviewed by telephone December 4-7, 2008. Phone numbers were dialed from RDD samples of both standard land-lines and cell phones. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. The error for subgroups is higher.

[georgiadog8]

Yes they are split alright 61 against 39 for. Not many people like to reward failure with someone else''s money!

[ramos937]

I completely disagree that the auto companies need this bailout for the following reasons: (1) Ford - Ford maintains that they are financially healthy and that they want the funds for contingency reasons, (2) Chrylser - Chrysler is owned by Cerberus Capital Management, NYC. Cerberus owns hundreds of companies worldwide and has billions at its disposal. If they do not want to rescue a division, why should we? Cerebus must know something we do not. (3) GM - In the late 70s, Lee Iococca rescued Chrysler by declaring Chapter 11, renegotiating labor contracts, and a host of other drastic measures. Loans were guaranteed by the US government. These loans were paid off in full. Chrysler emerged a stronger, leaner, small company. GM can use Chrysler''s experience as a model.

We have to stop using money as a cure all. There are many other cures that can be effected. Obama''s smart kids should be able to come up with many.

[debinok1]

Yes we are split, split between watching millions of jobs go down the toilet or bailing out an industry that has done nothing but show us contempt and treated us like something they stepped in.

[mandylou4u]

you know whats really sad? I probably still won''t be able to get a new car after this...

[poor_boy2006]

Maybe the car companies oughta be managed by Wal-Mart!

[whitemale08]

The reason why the polls are split is because the public doesn''t know that this is worse then the Bush/Hannity/Limbaugh-Depression...

This is the BREAKDOWN CRISIS!!!!!

Where society and the ''physical economy'' breaks down into total chaos like in the movies Mad Max, Children of Men and Road Warrior.

please...go to larouchepac.com

[clathrate]

No money for these bums! Learn to run your own *** companies first before asking for money!

You screwed up, over and over again, now you fail. That''s the free market. Take it or leave it.

Nancy Pelosi, this is not Red China. We don''t need your socialism.

[zzy-izzy]

Yes and no more money for the banks

[obeylaw]

UAW...how many employees in this country get double time and a half for working Saturdays and triple time for Sundays? Those in the UAW do in Michigan. I have first hand knowledge that this is true!

Anyone see something wrong with this picture or why, in part, our vehicles cost so much?

And why hasn''t the auto companies and oil companies not wanting fuel efficient high mileage cars developed and manufactured in huge masses for years and years! Duhhhhh! AND WE ARE GOING TO REWARD THEM FOR THAT???

[indiana891]

If our government bails out the auto industry, then ALL Americans should have an equal opportunity at replacing BIG 3 Autoworkers. I know SEVERAL qualified persons that would work a BIG 3 job for half the price of UAW labor.

[nearl4511]

Yes. This goes for ANY hadouts, bailouts and or tax breaks.

For any industry to get them, the Federal Govt. should demand some say in how the money gets used.

Otherwise, they are free marketers and NO bailout/handout or tax breaks.

[cattiej]

How do you spell depression. D E P R E S S I O N

[billpl-2009]

"For any industry to get them, the Federal Govt. should demand some say in how the money gets used. " -- Posted by Nearl4511

Sorta like the Blind, Deaf, Dumb and Crippled leading the Blind.

Things are bad enough for the Big Three without having to pay $1500 for a hammer

[billpl-2009]

"45 percent of those surveyed approve of government assistance for Ford, General Motors and Chrysler, while nearly as many - 44 percent - disapprove"

While 80% of America doesn''t know the difference between a bridge loan and a bailout

...obviously neither does the media

[cpelzar--2008]

Show congress they are fools. Under no way will I ever and I repeat ever buy a car from the Big 3 while they have the UAW and it has Congress in their back pockets.

15 Billion for 4 months of operation, are they kidding?

[nearl4511]

They are already getting tax breaks and breaks from regulation. Free market has failed because of very human greed.

I still knw people who think it was ethical to buy several houses, wait forhtemarket to inflate, change their primary homestead every few years and sell for profit to avoid any capital gains. Now that the bubble burst, they have their true deserts.....but the fact of the matter is thatthe inflated values were vaporous. Their profitiability was leveraged against debt for value not there.

Pragmatic reregulation plesae.

[cpelzar--2008]

Although Cerberus owns 80% of now troubled Chrysler Corporation, it has refused to inject cash into Chrysler, as Sen. Bob Corker pointed out at a hearing about the economic needs of the American automobile industry on December 4, 2008. In response to questioning at a hearing before the House committee on December 5, 2008 by Rep. Ginny Brown-Waite, Chrysler President and CEO Robert Nardelli said that Cerebrus'' other fiduciary obligations to its other investors and investments prohibited it from injecting capital.

THIS MEANS THAT THER OWN INVESTORS THINK CHRYSLER IS DEAD AN WILL NTO RISK THER OWN MONEY ON PUTTING ANYMORE IN.

BUT THE FOOLS IN CONGRESS AND THE US TAX PAYERS NO PROBLEM....WE HAVE ALL OF THE MONEY IN THE WORLD TO LEND THEM.

ANYONE BELIEVE IF THERE WAS NO UAW INVOLVED, THEY WOULD GET ANYTHING?

[cpelzar--2008]

They are already getting tax breaks and breaks from regulation. Free market has failed because of very human greed.

I still knw people who think it was ethical to buy several houses, wait forhtemarket to inflate, change their primary homestead every few years and sell for profit to avoid any capital gains. Now that the bubble burst, they have their true deserts.....but the fact of the matter is thatthe inflated values were vaporous. Their profitiability was leveraged against debt for value not there.

Pragmatic reregulation plesae.

Posted by Nearl4511 at 08:03 PM : Dec 08, 2008

Free market has never existed. It is the Governments involvement first in causing banks to make bad loans, allowing and encouraging Fannie Mae to underwrite bad loans under the guise of "Community Investment" and now bailouts in the banking, insurance and now auto sectors.

This is hardly free market where the strong survive and those that cannot go out of business.

[hitoyou11]

No way, who took the poll? CBS news, The Republicans?
The Democrats? Who? Every thing I have read, every one I have talked to, they are all saying NO BAILOUT. This is just a LIE to make people think Congress is doing the right thing. This is a B.S. poll. Yester day it was 63% saying no bailout, today it is 50, 50, BUll *******

[hitoyou11]

billpl: This is a bailout, I and the people don''t really care what you call it. We know it is a bailout. You are not going into Bankruptcy if all you need is a load. Stop the B.S.

[hitoyou11]

billpl: I got it, you go to work for the Big 3, for zero, That should help, anothere dumb dumb working for the BIG 3. Just what they need.

[art001-2009]

1. Let them go bankrupt.
2. Create a new company with NEW management.
3. Get rid of UAW.
4. Hire back the employees from the old company.

[billpl-2009]

"billpl: This is a bailout, I and the people don''''t really care what you call it. We know it is a bailout. You are not going into Bankruptcy if all you need is a load. Stop the B.S." -- Posted by hitoyou11


No, it''s a bridge loan. They have to pay it back.
A bailout is what the Feds gave to people in New Orleans.
...and we''re still paying them

[cpelzar--2008]

No, it''''s a bridge loan. They have to pay it back.
A bailout is what the Feds gave to people in New Orleans.
...and we''''re still paying them

Posted by billpl at 08:29 PM : Dec 08, 2008

A bridge to where? I will tell you more money and more money from the Tax Payers.

[billpl-2009]

"A bridge to where? I will tell you more money and more money from the Tax Payers." -- Posted by CPelzar

That''s a good question

If the UAW comes to their senses (which they will to some degree)
my guess is.

Ford will probably work things out.
Chrysler is looking for a buyer. Mercedes already dumped it, so I doubt any other car manufacturer will interested other than maybe only the brand name.
They might find some American company to buy some part, but not all. Look for China to snap up the rest.
How do you say "Jeep" in Chinese?
GM...sorry no clue, but if they do go under?....hope you own a lot of stock Ford. (I bought a bunch)
-----------
oh and I liked your previous posts. Think you hit the nail on the head.
Friend of mine sent me this link the other day, I bet you''ll like it.
http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom

[harp1963]

Who cares? Close the country. Give all the bailout money to people already living in castles. We''re tired of working all the time so a hand full of people can live like kings.

[mainedoggie]

Welcome to Sunday Night Football! Brought to you by GMC!

What is wrong with this picture....

[mainedoggie]

45% approve??? That sounds extremely high to me, but *** do i know.

[wardoglrs]

Dumb Downed Americans = Dumb Downed Choices
When will you people wake up to your government and it unlawful practices of tricks & manipulation. How much longer does the world have to wait for you to grow up and see the truth

[crazyinred]

I dont want the government to bail out the Auto Industy for several reasons:

1: The CEOs retire with more money than you and I will ever think of even if we won the so called lottery.

2: The auto industry is unforgiving in late payments or maintenance. They charge you out the whaaazooo to repair THEIR cars and half the time fix it enough to have it brought back in several months down the road. God forgive you if you are late or have to miss a payment. They will give the Repoers 5-600 dollars to take your vehicle and wont return it once the fees are paid. They call it the cost of doing business.

3: ITS MY MONEY! It''s my childrens money, my childrens children and last but not least MY RETIREMENT! They wont ask me what I think but they will go to congress.

[kolpcon]

Obviously the root of the problem is the illegal aliens, it has finally reached the point to where we have to say NO, to all of the freeloading.

[kolpcon]

We will never recover until the bleeding of our economy by ILLEGAL aliens stops!!!!

[annia1233]

Oh, come on, you all know they going to bail them out. Just like the banking bail out.
enough already

[albrightw]

There''s a whole lot of businesses that have folded and a whole lot of people out of work. Bale them out first, put money in peoples pockets, to feed their families. Did the government jump in to keep those people from going under. NO ! NO ! It''s about time the vehicle industries held their own. NO BAILOUT !!!!

[ozarkbard]

NO BAILOUTS! LET THEM FALL!!!

[lady54-2009]

I think the people wouldn''t mind helping but they just don''t like the idea of that money going into the hands of the CEOs.

I''ll bet that if the CEOs of the big three auto makers volunteered to retire right now and forfeit their retirement packages, the people would vote to help the industry over night.

[firehose12]

I dont want the government to bail out the Auto Industy for several reasons:

1: The CEOs retire with more money than you and I will ever think of even if we won the so called lottery.

2: The auto industry is unforgiving in late payments or maintenance. They charge you out the whaaazooo to repair THEIR cars and half the time fix it enough to have it brought back in several months down the road. God forgive you if you are late or have to miss a payment. They will give the Repoers 5-600 dollars to take your vehicle and wont return it once the fees are paid. They call it the cost of doing business.

3: ITS MY MONEY! It''''s my childrens money, my childrens children and last but not least MY RETIREMENT! They wont ask me what I think but they will go to congress.

Posted by Crazyinred at 09:51 PM : Dec 08, 2008

The Democrats want to save the Poor starving CEO''s and the underpaid uneducated Union guys making $78.00.

Yep..

I guess we will see more to come when Chimps steps in come January 20th.

You asked for Socialism... You got it !!!

No more American dreams.

Now its the great American socialism state.

[andylance1]

Did you see the inner city prayer service to save the UAW and the Big 3? Right up on the altar were two big SUVs. Is this what they worship in Motown? SUVs?

The Big 3 is trying to sell us on the future. You don''t sell the steak, you sell the sizzle. Smoke and mirrors.

GM killed the electric car 5 years ago. They don''t have a feakin'' clue what''s happening. Don''t give them a penny unless they decapitate the Big Three CEO SOBs.

[tincup356]

Its only fair the democrats pay back some lobby dollars.....the republicans have been paying back theirs,,,,,look at all the bailouts,,,they all paid lobby dollars somewhere.Greed and the lobby dollar are destroying this country and congress wont admit it.Lobbying is nothing more than glorified bribery of the rich by the rich.Justice is blind ..unless you are rich.

[nearl4511]

Socialism? You HAD socialism all along. The belief in a free market capital economy has been a myth for a while.

It was proven long before the election that should the "free" market system fail, Big Brother (not just US but Global) Govt.would step in to save the day.

If you think that socialism was just about the New Deal and the Great Society in this country, just look at who lines up any time for the LARGEST Govt programs or lobbies for such -- it it large corporate interests. They were never wanting freedom from the Govt: they wanted hand outs like the rest.

[steveherb1]

Never again to buy a home, stocks or an American car. Cash and carry. A fool and his money are soon departed. Didn''t realize that fool was us the taxpayer.

[steveherb1]

Oh yes. You think you''ve got it bad. Try watching your Ford truck burn to the ground after your cruise control recall was fixed. Ford said "Tough luck" Losing in small claims the judge said " You do realize you''re taking on the big guys." I guess he was right since they got bailed out and I''m on the list for forclosure.

[McHineguy]

Great all we need is more Government.
A "CAR ZAR"
Communism!
CHANGE!
The NEW USSA
(United Socialist States of Americas)


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Posted by republic76 at 01:11 AM : Dec 09, 2008

I am sure that Nancy Pelosi will make a good choice. She might even loan the car czar her private plane for his monthly trips to Detroit. I know she will do a great job because she is always on top of everything.

[McHineguy]

Forty-five percent of those surveyed approve of government assistance for Ford, General Motors and Chrysler, while nearly as many - 44 percent - disapprove.

I find these statistics put out by CBS in this article just frankly HILARIOUS! On their own website the poll was 61% against bailing out, 37% for, and 9% didn''''t know?

Where''''d they pull at the 45 and 45% figures? Out of their butt? What are they trying to do? Manipulate our little minds to accept that Pelosi is bailing them out?


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Posted by RowdynTex at 11:43 PM : Dec 08, 2008

Yes!!! It worked all Summer and they think it can keep going. Chicago Tribune has filed bankruptcy, CBS will too if they dont get back to honest reporting. Like the car makers have learned, the public will find products they trust.

[cowboy668-2009]

Why not have the Oil Company''s bail them out, Bush gave the oil co''s huge Tax break''s at the tax payer''s expence and they posted HUGE Profits and the two industries are related, So let the oil company''s bail them out.

Their management is a little late finally getting it. One thing they did get was to pay themselves handsomely.

[macusweil]

George Bush & GOP''s legacy?

Leaves office after almost a decade with a record 10% of all Americans on food stamps. Nuff said.

[bracemic]

Need I remind everyone that the government is not "giving" these companies money. These are loans. The government should only be entitled to be payed back the loan amount plus interest, like every other loan in the world.

[gowens1]

George Bush & GOP''''''''s legacy?

Leaves office after almost a decade with a record 10% of all Americans on food stamps. Nuff said.



Posted by macusweil at 06:55 AM : Dec 09, 2008

any chance that those 10 percent (prove that please) on foodstamps are there because of their own choices in life?


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Posted by jamesm12341 at 07:27 AM : Dec 09, 2008

No, it was George Bush, the entire world can see htat, just you NEOCONS and Rush Limbaugh choose to keep your heads in the sand.

[wiccanpth]

Blaming those who elected Obamma, Atlanta3430, is crazy. How about the economic times that has put us in the position we are in? It took us eight years with the current administration to put us here. Yes, the salaries of the automotive industry are CRAZY, and let%u2019s face it, what have they done to earn such inflated wages? Let%u2019s face it though, if they fail, the long-term ramifications would be paralyzing. It goes far beyond Detroit, anyone who thinks otherwise is looney. I just wish the govenrment would have been as hard on the financial industry as they have on the automotive industry, probably would have saved us millions.