Sitting here trying to decide if I think congress should bail out the big three auto makers. I am nearly convinced that the union greed and bad management is what has gotten them into the mess they are all in. Clearly the unions have them by the ***** when they force the auto makers to provide 95% pay to laid off workers and not to mention retirement and health. And what about the insane executives salary and bonuses for a failing company?

I don't see the Japanese and other auto makers struggling so they must be doing something right. Maybe the big three should stand up and take notice.

I am also convinced that if they are given the money, they will be back for more within the next 6 months and none of the major problems will be resolved. I hate to see them further fail, but maybe if its inevitable, they should just go ahead and fail then restructure from the ground up.

 

I want a zr1 not a prius so yes they should.

 

It's not a bail out. It's a loan.

 

Let them go bankrupt, restructure themselves including shedding the UAW parasites entirely, and then maybe give them a cash infusion to get them closer to their former selves albeit without nearly the same burden.

 

Yeah its a loan.6 months later they will be back for more.When our family buisness went **** up did the government step into help.Hell NO

 

That depends on if the money is paid back.

 

A loan in this context is still a bail out. A bail out is any sort of financial assistance that would otherwise normally be unavailable for a failing company.

Most of the money thrown toward the financial companies isn't just free cash, it's going toward purchases toxic debt, freeing up credit, etc. It's still a bail out though.

 

Bailout or loan, I'd expect they should come up with a good business plan designed at not only paying back the loan, but sucessfully competing against the competition.

I don't see this as "help in tough times" it's "GM ****ed up and in order to save our collective asses, we still need at least one American automaker."

 

In that case I'm applying for a car bailout in Spring because I can't afford for my clients to see me in a cheap daily driver.

 

That is probably what the three CEO's were saying too.

 

The Japanese have national health care, government pensions and the car companies force their workers to work overtime for no additional pay. Real level playing field there

 

2.5 million jobs says yes.

 

Is that the true with the Japanese plants here in the US? Quite sure it does not work that way, one county over in Georgetown Ky. I was referring to the Japanese plants here.

Besides, it appears we have national health care POSSIBLY on the way as well, from what I saw in early November.

 

Speaking of which, do we know what kinds of cars the CEO's and inner circle of GM drive?

I'd imagine they get a GM car of their choice according to some corporate plan...I mean...someone has to buy them.

 

The money may not get 'paid' back, but the Government would definitely get it back one way or another. Despite having a terrible accounting book, they still have tens of BILLIONS worth of equipment, facilities, property, and whatnot that the Government would get a crack at before anyone else.