just curious of what everyone thinks. Do you think bush should bail out GM, Ford, and Chrysler? Facts Passed in House Failed to pass in Congress cause they refused to cut wages Foreign made car companies (like toyota) only pay their employees $29 compared to detriots $71 an hour, thus the reason for wage cuts being askedd by congress GM will go bankrupt in less then a month if no bail out is approved If all 3 happen to fail, then possibly up to 3 million jobs could be at loss If all 3 fail, we still have many car companies, so cars aren't gone. We still have car makers Those are the facts. So what do you think? Should bush step in even though congress failed to passed such a bill? Or do you think it won't solve the problem and just be the short term solution that will make them come back in 6 months asking for more? In my opinion, I think they should fail. I like cars, but they made bad choses, and there company did bad cause of it. Its there own fault, and I think they need to pay for it, the hard way, which is going bankrupt. Also, I can't seem to find what money we are bailing them out with? WE ARE $53 TRILLION IN DEBT!!! I think they need to do like all a lot of companies are doing, and take and accept that they are bankrupt. What's your opinion?
I don't think he should. Why should we continue supporting companies that are not profitable? The union workers are grossly overpaid anyway. Maybe if we don't bail them out, they'll learn to actually make cars that people WANT to buy, and n learn to no overpay their workers.
The article at http://blogs.tampabay.com/venture/2008/12/domestic-auto-i.html has good information & cites sources proving that domestic and foreign auto workers wages are equal. The original article counted in retirement money. I do surveys for a living & I've spoken with many retirees who have lost a lot of their retirement money in the stock market, where it's generally invested. I assume businesses also have portfolios invested in the stock market and the drops seen recently could have a significant effect. I also believe that there's probably something at fault and at this point, when they're asking for so much, information about their situation in detail should be available to the public. There's also a point in 3 million jobs... I've spoken with many people who have had to leave their homes because their factory was shut down or resort to basically a minimum wage job after working for over thirty years in a job making $10 more an hour. It hurts people, not just financially but emotionally, some will have to leave their families to work at other factories, & some will simply end up having bills above their means, because who, especially at established businesses like that, expects to lose their job?
He should do something to delay the bankrupting of them for a few months, just a temporary thing; then let Obama handle all of that stuff. But yeah I think it is important for the car companies to be bailed out; without them the price of cars will inflate(since there will be less car competition) and so many people will lose their jobs. I mean can you imagine your world today without cars?? If all those companies go bankrupt, cars would jump really high in price making them unaffordable to the average American.
I think we should let them fail. They've made bad decisions and they should have to pay for them. It's disastrous for the workers, but basically every job comes with the risk of losing it. Besides, if they were to go bankrupt and the price of cars inflated, maybe pollution would decrease because more people would carpool, use public transportation, etc. A little off topic, but still interesting, the bad choices they've made extend beyond financial ones. My boss was telling me the other day that there was a guy from Yale who designed a car-frame made from aluminum. He sold the design to Chevy, and it was supposed to be implemented in the chevy Lumina. At the last second, though, Chevy decided to use their normal frame. The aluminum one was stronger, safer, and lighter, meaning better gas mileage, but Chevy wouldn't use it. Now I think Audi uses it in their cars. That's one of the reasons it's the American car companies and not the foreign ones that are in danger of going bankrupt.
I think they should be left to fail what is the point in spending so much money to help companies manufacture products no one at the moment can afford the money could be used for actual economic growth.
I'm from Detroit, me and my friends were personally impacted by the auto companies. I do NOT think they need a bailout. Companies like GM were paying their workers OUTRAGEOUS wages, plus benefits, and the workers still decided that it wasn't enough. During their strikes, the company lost money. That's due to both the people running the company, and the greedy people they hired who think $80/hour isnt enough to feed a 3 person household. So what if the prices of cars inflate? At this point, the cities have so much housing, and so many little stores (depending on where you are) that most places are well within walking distance. I have a WalMart less than 3 blocks from my house, and my high school is literally across the street. What happened to the days when you would walk for an hour or two just to get where you wanted? I'm not talking hundreds of years ago- I'm talking a few decades ago. Depending on who's reading this, thats one generation back. May just solve the USs obesity problem.