Auto Bailout?

[Nissangeek]

Why because it's only fair?

I find it funny that we have foreign auto makers here in this country that can build and assemble cars here and ship them back to the EU and they aren't running back to the German, Japanese, Korean Govt's begging for money. Obviously the way that the companies are structured, doing business isn't working. The big Three are big through 2 billion a piece A MONTH. Also did you know that GM is paying more people through pensions than they currently employ? Add in the fact that the Unions won't even negotiate with the Big 3 and we end up where we are right now.

Sorry just because we gave out $700 Billion to companies that shouldn't have got it in the first place doesn't mean we should just continue handing out money because we can.

Thats actually not true. A few of the foreign automakers are asking for money from their respective governments the same as the Big 3 are asking for it from our government. Also, there are more than three companies after the money from the bailout, not just Detroit. What happens when the Big 3 do go bankrupt? Between the three of them they employ approximatly 3.5 million Americans. If each were to cut their workforce by a third (which is likely if faced with bankruptcy) thats about 1 million people out of work in one blow. Then when production and R&D is cut, what happens to their steel, or glass, or other suppliers? They have to lay people off to make up for the loss in revenue. If the Big 3 to go down, the rest of the contry will go with them.

[Alan®]

Thats actually not true.

Actually it is

http://money.cnn.com/2008/11/19/news...inese_auto.ap/

The chinese are the only ones going to their government for help. The Germans, Britts, Etc. haven't reached that point yet.

[BanginJimmy]

\Between the three of them they employ approximatly 3.5 million Americans. If each were to cut their workforce by a third (which is likely if faced with bankruptcy) thats about 1 million people out of work in one blow. Then when production and R&D is cut, what happens to their steel, or glass, or other suppliers? They have to lay people off to make up for the loss in revenue. If the Big 3 to go down, the rest of the contry will go with them.

I read a while back that if the Big 3 were to go under it would cost more than 10 million jobs in the US over about a 5 year span. That includes the actual corporations, their suppliers, then the last to go will be the dealerships and mechanics.

[KREEP]

I read a while back that if the Big 3 were to go under it would cost more than 10 million jobs in the US over about a 5 year span. That includes the actual corporations, their suppliers, then the last to go will be the dealerships and mechanics.

well yeah....plant employees, dealers, salesmen, parts sales, it would all crumble...you also got to remember our military is supplied w/ american vehicles...parts and so forth. You name it and everyone gets hit when they go under but hey thats life man. Shit happens thats why they made the t shirts that say SHIT HAPPENS......cause it always does
I wonder if they go under can I get an american car for really cheap?????

[Deo Vindice]

I read a while back that if the Big 3 were to go under it would cost more than 10 million jobs in the US over about a 5 year span. That includes the actual corporations, their suppliers, then the last to go will be the dealerships and mechanics.

That may be but it's called the business cycle. Bad underperforming companies fall all the time, they are then replaced by those who are better, more organized ones. It's Capitalism. And while it may suck to think 10 million more Americans will be out of work, why should we (The Tax-Payer) reward the Big 3 for poor business choices. This bailout is simple...the Democrats don’t want to let GM go into bankruptcy because it would hurt their reliable union votes. Bailouts won’t bring profits back. This will just become a perpetual drain on taxpayers to support UAW workers.