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Do you approve of Bush's bailout for the big 3?

posted 12/19/2008 2:03:23 PM |
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  StraddleMyNose

Do you approve or disaprove with Bush's bailout today for the big 3? The 15 biliion that's left out of that 700 billion bailout that was passed a few weeks ago is going to be used to bailout 2 of the big 3 I believe. Am I for it? HELL NO! Don't get me wrong, there are pros and cons to this, but I feel the cons outweigh the pros. How do you feel about this?

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dmbchick420

Dec 19 @ 2:09PM  
Yes, believe it or not, I actually approve of something that Bush is doing. I think that the auto industry needs this more than Wall Street needed their money. At least the auto industry has been told that they cannot use this money for "frivolous spending" like some of the other companies have wasted our money on with the bailout and are being made to agree to that (at least that was what I had heard last). If the auto industry doesn't get this help, Michigan and Ohio are headed for a depression BIG TIME and it will affect the rest of the country as well...in a very bad way.
sugarnspice005

Dec 19 @ 2:33PM  
I've got quite a few members of my immediate family who are either workers for the Big 3, or, retirees of the Big 3...so if this is going to help them keep their jobs/pensions, then you bet I'm for it.

My Dad retired from GM in 89...since then, he's had to work a part time job in order to keep up with bills. A lot of people out there seem to think people who work for these companies are wealthy, and I'll say it right now..they are NOT. Every time GM has had to cut something....people like my Dad and Uncles who have retired, had seen chunks of their pensions cut. I don't know what Ford or Chrysler do for their retirees and workers, but I know those who work for, or have retired from GM always seem to get hit the hardest when it comes to cutting expenses. Contrary to popular belief..those folks working on the floor assembling are not getting anyway near $75 and hour.
Wordsofwit

Dec 19 @ 2:38PM  
If the auto industry doesn't get this help, Michigan and Ohio are headed for a depression BIG TIME and it will affect the rest of the country as well...in a very bad way.

There it is!
StraddleMyNose

Dec 19 @ 2:45PM  
Contrary to popular belief..those folks working on the floor assembling are not getting anyway near $75 and hour.

Most of the UAW's benefits are factored in to this, and they get a pretty damn good sweetheart deal out of this more than non union workers from Toyota and Honda.

If the auto industry doesn't get this help, Michigan and Ohio are headed for a depression BIG TIME and it will affect the rest of the country as well...in a very bad way.

There it is!

More for Michigam than Ohio. Ohio has some other car plants such as Honda I believe.
sugarnspice005

Dec 19 @ 2:59PM  
All I know is this:

The Big 3 are being given a chance to restructure and become viable again, and they had better do so. And part of the restructuring need not be reducing benefits to the retirees, they are the ones who can least afford that.

Lisa46

Dec 19 @ 3:05PM  
I'm all for it! My dad retired in 91 from GM and his pension isn't safe if they go under. I"m sorry I can't see my dad at the age of 82 trying to work and survive. Its hard enough on people my own age
wtxman

Dec 19 @ 6:07PM  
Shawn, I think that only half of the 700 billion has been allocated. Isn't Toyota and Honda also unionized at least here in the USA?
ValentineGirl214

Dec 19 @ 7:29PM  
Isn't Toyota and Honda also unionized at least here in the USA?

I know that Honda is not. The workers wanted too and Honda told them they would shut the plants down 1st.....the workers stayed and make a decent living. Not $60 or $75 an hour like the Union shops. Not that I'm against Unions, but that kind of money an hour should not be for car makers.....Teachers deserve it more. JMHO
headhunter7722

Dec 19 @ 9:56PM  
fuck the big 3......they been doing to us for years.......
casuallylooking

Dec 20 @ 12:04AM  
Not $60 or $75 an hour like the Union shops.
I know for a fact that GM retirees do not make that kind of money...I also know for a fact that Ford employees do not make that kind of money..nor their retirees.. And it royally pisses me off that some how that rumor has lasted as long as it has.. and people actually Believe it.

I know someone who works for Honda..has been there for 7 years and makes over $18 an hour...I also know someone who works for Ford...has been there for 16 years and makes just over $22 an hour. They basically do the same job.
And Honda pays more of the employees ins than Ford does theirs.

More for Michigan than Ohio. Ohio has some other car plants such as Honda I believe.
Ohio and Mich both have Honda plants..but if the 3 shut down, Ohio is going to be hurting as badly as Mich.. In severe depression. Soon so will the rest of the country...which will trickle into other countries as well..
Kind of hard to sell Toyotas or Honda with so many people out of jobs and no money to spend on anything... including even fast food or groceries. then those workers will suffer also. Everyone will.

Isn't it amazing how Bush jumped in to be "hero" for the day?? If he wouldn't have given tax breaks to companies who were taking their production to other countries where they could do it for cheaper, there would still be jobs here and people would be able to spend money HERE.

Yes, I feel there were a lot of mistakes made...but get rid of the CEO's and the ones who made the bad decisions...As well as with Wall Street. Not the average Joe Blow working there.
Hell, Wall Street got the money and the ones who made the mess ups are still in the same positions handling the money and decisions again...
The auto workers are being completely criticized and an auto czar is being put into place..but Wall Street got handed the money and pretty much told here, try again. After your weekend million dollar party, of course..

Am I for the help to the big 3? Hell yes I am... I would like this country to have a future and people not to starve to death on the streets.

Just my opinion of course...although not very humble right now.
StraddleMyNose

Dec 20 @ 12:24AM  
Ohio is going to be hurting as badly as Mich..

I still don't think that. One of the reasons is the Michigan governor raised taxes in that state not too long ago which made things a hell of a lot worse.


Isn't it amazing how Bush jumped in to be "hero" for the day??

I don't think he was trying to play hero as much as him not wanting any of those car cpmpanies to go under on his watch. I still feel that he made a mistake for doing this, and he's certainly not a hero in my book for bailing them out.

Our congresswoman out of Cincinnati didn't vote for it last week because people down here in southern Ohio don't want this bailout. Most people across the country don't want this bailout either.
southerngent64

Dec 20 @ 8:18AM  
The loans are the right thing to do.

If GM or Cerebus (Chrysler) craps out, the effects will be felt all over, not just in MI or OH. Remember, they work with sub-contractors and suppliers from all over the US, not just up north.

It's almost a case of too little, too late. The Big 3 have FINALLY started making cars that are competitive with the Japanese and in some cases, better! It would be a shame for to lose them once they realized that they can make money by manufacturing cars.

The one thing they do need to change is the corporate mentality of reporting good profits for the next quarter. Most corporate "Vision Statements" reference shareholders, not their customers or what they make. Thirty years ago, when the domestic makers were cranking out cars of questionable quality, the Japanese started small and bided their time. Now, their US market share is larger and the money is coming in, because they didn't focus on short term gains. The domestics have started in this direction and need to continue in this direction.

It's not that the domestics can't make decent cars, either. According to the automotive journalists, it seems as if the accounting departments had more say in what was produced than the engineers, designers, etc. It's disheartening for me to see pics of a concept car and think "Me want BAD!" but when the production version is released, I wonder "what the fuck happened?"

It's not like they can't make great, sexy cars, either. The European versions are hawt! Saturn brought over the Saturn Sky, which is an Opel in Germany. Pontiac's version, the Solstice, IMHO, is not so hot. The European Ford Focus is a beast of a machine compared to the domestic version.

Strad, I apologize for hijacking your blog. This is a topic that means a lot to me and I went off on a rant. Feel free to blast me.
StraddleMyNose

Dec 20 @ 12:20PM  
Strad, I apologize for hijacking your blog. This is a topic that means a lot to me and I went off on a rant. Feel free to blast me.

lol...Nah, you're fine. You made some solid valid points

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Do you approve of Bush's bailout for the big 3?