Here is my take.

I agree with Red GT to the extent that "Giving" them the money will not teach them ANYTHING. If they can't sit down and restructure their business plan, they do not need a bail out. Also, if we let them fail, I think that our global presence would be effected also.

I also agree with Silver Sol. All the small parts manufactures that supply the big 3 will feel this effect also. That would equate to MORE lost jobs. Losing the Big 3 would crush us. The amount of loss jobs would be the beginning of a new poverty epidemic in America. With that said, unless someone has an idea to start a new auto maker, we need the big 3.

About the pension payouts: I read that also. It does put a damper on profits b/c they are STILL paying out too much money. Even still, their sales have been suffering. Suffering sales is hurting more than the auto makers are telling. Pension is the easiest to put out there, because it directly relates to the people.

Bottom line, because I am a "nice" guy, we do need to save them, but I disagree with just "Giving" them the money. They need to get a bunch of MBA industry experts to sit down and come up with a new business strategy, even if it mean mimicking the Japanese auto makers.

Shit, I am writing a letter for a $50,000 bailout for myself, lol. Its worth a try!