Obama wants to push 50 Billion to Auto Industry, do you agree?

Question

I don't agree at all. Why do you bail out a company that will not succeed either way. Toyota, Honda, Nissan, and Mitsubishi are the popular ones for most people. Even without the crisis, GM sales declining already.

The high paid worker, benefits, the dumb union, the bailout is just a waste of money. Just like AIG, the auto makers will ask for more money later on.

Answer 1

I do not agree with the bailout. The government should stop using the taxpayer money to do the bailout. The economy is going down and we are wasting the money to GM, Ford, and Chrsyler?!!?

Answer 2

I say NO to bailing out the auto industry though I was and still am also AGAINST the banking industry bailout as well. Whether the government gives the auto industry $1 Billion, $10 Billion or even $100 Billion it will make absolutely no difference. The problem is not lack of cash it's lack of cars being sold! No matter what amount the government hands to the auto industry cars will still just be sitting and piling up in dealership lots.

Answer 3

Its not a waste. You have to know what all these companies have to do with Americans to begin with. AIG had to be bailed out because so many people have their 401K's ,retirement funds in that company as well as mortgages. The economy is like the circle of life in a way. It'll all come back around and help everyone in the long run. I believe the reason why GM sales have plummeted is because a large percentage of GM vehicles sold each year are SUV's and Trucks. Which use a lot of gas. I myself have a GM SUV (my husband a GM truck) and at one point this past summer it was costing me 100 dollars just to fill it up. So with gas prices and oil by the barrel hitting the highest in history had a lot to do with sales in the SUV industry. I would have to say in all the states I've lived I've seen more vehicles made by GMC than any other company driving the roads.

People just need to calm down a bit and think rationally and stop living off of borrowed money (credit cards). Buy what they need first to live and think about luxury item after the fact. I also heard that dealerships are thinking about closing the whole leasing a car business as well.

Answer 4

The union is responsible for getting better wages, even if you don't work for it.

I believe if the car companies fail, the service industries will start failing too. Who's going to buy gas or soda from the mom and pop stores? The area that the car companies are in will feel the impact and the negative impact will be felt nationwide, if not globally.

Service industries include the restaurants, stores, hotels, car rentals, the transportation industry, the steel industry and other companies that do business with the car industry



I believe the car companies are central to our economy and believe that Obama is correct in bailing the car companies out.

My understanding of the bailout is that the car companies would be paying the money back.

Answer 5

Apparently the Auto Industry is seeking a loan, not a bailout. The credit freeze is affecting their business model to retool so they can make the cars people want. If it is a loan and not a handout, then I am okay with it as long as it is at the going rate of interest and guaranteed by hard assets just like any risky bank loan. Also there should be strong rules attached.

Not only would a bankruptcy affect the auto industry but their suppliers and second and third tier suppliers which is responsible for almost 10% of the employment in the USA.



As far as the high paid worker with benefits who got them by belonging to a union, why are you jealous of a working person getting good pay? They are doing their jobs. How about the CEOs, senior management and management who get paid a heck of a lot more in salaries and bonuses and stock options and can't make good decisions about making cars that Americans want to buy?

Answer 6

Obama fought long and hard to set the mortgage industry up for this economic failure that has affected every major industry in this country. Enter George Soros. By manipulating his investments here, just like he did when he took down the Bank of England, he handed Obama a much needed financial crisis to dupe the people into electing him. This level of economic terrorism ranks right up there with blowing up buildings.



Now with the help of the Socialist Democrats that have taken over Congress Obama intends to drive this country into a depression. He knows that he has the American people over a barrel. If we fight to deny these bailouts thousands and thousands of people will lose their jobs. But if we agree to it, this congress that claims to be so hell bent on oversight will handle it the same way they did the big bailout before the election. There will be ZIP oversight and the money handed to them, which doesn't really exist will be blown on God knows what and lost forever. Then we'll be in even worse shape in another year.



Mark my words, it won't be another year and our unemployment rate will be closing in on 25% or more. Once the majority of the people become dependent on his socialist government he can gain control over them. And then we get introduced to Obama's "Civilian National Security Force".



Hitler did exactly the same thing and that certainly worked out well for the Germans, didn't it?



No one in their right mind would agree to what he and his Socialist Democrats are doing. Those of us who recognize it for what it actually is are actually taking precautions for the long haul.

Answer 7

they must be bailed out. because we can't allow our manufacturing base to go down any further. It would cost 3 million jobs nationwide, by not just Auto workers, but suppliers and small businesses.



Now, the reason is that they have historic cost and the Automakers you list really don't. Toyoda, Nissan, Mitsubishi and BMW came on line after WW II. some were motorcycle companies as late as the 60's. as such, they are at a competitive advantage because of these historic cost. ford has been in business for over 100 years. Historic cost are retirees and health care costs. I would be willing to bet that the Big Three are paying more to retirees than to today's workers. that's how you go bankrupt. Some may be on pension for over 30 years. these are some of the reason why I believe that the Big three should be bailed out.

Answer 8

GM and the UAW created their own mess, you're positively correct when you said that even when Cars and Trucks were flying out the door GM was headed for trouble. The UAW is the biggest reason they're tanking. The only way I would agree to use our tax dollars is if GM agreed to can the union and start from scratch, secondly I would mandate that they develop alternative fuel cars and make the current gas powered cars get 50mpg. This has been coming for a long time, the economic downturn has just sped up the process. We can't just give away our tax dollars and let it be business as usual.

Answer 9

You better believe it.. Certainly I agree.. And unions are the best item that ever happened to labor in this country.. You people are just jealous because you were never hired to a nice cushy autoworker position where we could take long lunches at the bar or spend most of the day at grievance procedure if a supervisor said even 1 wrong word to us.... And now you don't like it because we get to sit around retired & still have $$ to burn..... Works for me.. ; )

Answer 10

I think the only reason why people are considering bailing out the auto industry is the clout of the auto workers union as well as the value of winning a state like Michigan in an election...

Answer 11

firstly Why ought to The Tax Payer Foot The bill For This Trillion greenback conflict ? And 2nd -if the motor vehicle marketplace will re -gadget and create vehicles that run on something to boot gas i'm taken with IT. Why do Republicans merely seem to approve of spending tax funds on conflict and destruction. by no capacity on prosperity and peace ? merely thinking

Answer 12

I certainly wish that we didn't need to give the auto makers any funds.

Their refusal to turn out fuel efficient vehicle is the root-source of their problems. If any amount is granted to them, it should be earmarked to the production of Hybrids, and/or Flex engine cars. We need to greatly increase the production of ethanol.

I have suggested making low-interest loans available to lower income groups strictly for the purchase of Hybrids.

Of course, in the final analysis, it is the people's own fault for buying High Powered, glitzy gas guzzlers.

Answer 13

The auto makers have been in trouble for years...........claiming loss of sales, and lack of profit.



What makes anyone think a bailout is going to help them? They've had years to straighten up their act, slimline their operations, improve their products to meet the consumer needs, and they haven't done it.



Why is a magic bailout amount going to change this?



I say no bailout for ANY company that is controlled by unions. You can't make good company decisions with unions...all they care about is the hourly workers...not the overall success of the company.

Answer 14

This $700 Billion dollar bailout already in the process is a waste of money.

Answer 15

While the idea of more of my money going to fat industry execs makes me sick, I like the idea of being able to buy an American made, fuel efficient vehicle when its time to trade in my Jeep. So if the bailout money is actually used for what its supposed to be used for, then it sits a lot better than the whole AIG b-s.

Answer 16

"A study of 6,000 consumers last summer by CNW Marketing found that 80 percent of them said they would switch companies if G.M. or Ford filed for bankruptcy protection in the United States, suggesting that only G.M. loyalists would stand by the automaker.



A"bankruptcy filing by a single Detroit car company could cost the economy $175 billion in the first year of the legal case in lost employee income and tax revenue, the Center for Automotive Research estimated this week. Given the complexity, a G.M. bankruptcy case could last three years or more."



http://www.nytimes.com/2008/11/13/business/economy/13bankruptcy.html?_r=1&hp&oref=slogin



This is way bigger than GM.

Answer 17

i dont like it but if we let them go,then we would be more dependent on more foreign car companies than we do now and if they get the power to run a monopoly in america we will lose more jobs because they will have their people build them cheaper and charge an arm and a leg for america to have then shipped here and buy. all that money would go to foreign countries

Answer 18

America SHOULD NOT reward failure. This is not the way the American dream comes to be. You either make it or dont.



The unions need to be put in their place. The automotive industry needs to realize there is no chance for them of getting help and that they need to tell the unions that either they work for what the company wants to pay them (or can afford) or they can go look for another job. Period.

Answer 19

No I don't agree, the Big Three should be allowed to fail or file Chapter 11 and restructure. The positive to come out of it is that Obama's call for $50 billion should remove all doubt as to whether he has socialist leanings. $50 billion and an "oversight czar" and he's not a socialist thinker? Give me a break.

Answer 20

Mr. Obama wants to help the middle class and tax the rich what a crock I quess he fooled all the Obamabots into voting for him so he can help the rich stay rich.

Answer 21

Hmm... what a novel concept... helping the businesses that actually MAKE something (as Jay Leno said last night).... I do agree with it to an extent and would agree with it more if the UAW had less leeway and the manufacturers actually made decent fuel efficient vehicles...

Answer 22

I hope he doesn't do it but it seems both parties are into bailing out the auto industry

Answer 23

I could be wrong, but I have a feeling that the automobile industry in this country is effectively finished. I think any sort of bailout shouldn't be aimed at "saving" these companies, per say, but rather, helping workers who are going to lose their jobs and giving them tools and assistance to find other jobs.

Answer 24

No I don't agree - time to give them the same treatment that Reagan gave the air-traffic controllers - concessions or lose your jobs - plain and simple



They should have adopted Lean Manufacturing Processes years ago, they should have cut benefits, they should have made cars people actually wanted to buy and finally the retirees should stop being so selfish and leave go of some of their unreasonable benefits.

Answer 25

I don't think anyone should get a bail out. But what our wonderful President bush has done to our economy there really isn't any other choice left is there. If we can bail out idiots that can't figure out how to loan money, and yet still have the same paycheck, why not do a similar act to auto makers who actually were trying to make money.

I have an idea! How about we bail our own asses out? How about each of us take responsibility for our own actions and mistakes. How about that?

Answer 26

Nope. When a business fails, too bad. That's the way it works for small business owners in America, why should GM and Ford be different?

Answer 27

No, that's just payback to the unions. GM should be allowed to declare bankruptcy and dump the unions.



Oh, did you hear.... GM's health plan is the largest single purchaser of viagra, $17 million worth.

Answer 28

Japan and Germany support their auto industries. You want a level playing field in a global economy? Then play like they do.

Answer 29

Yeah, Let's throw good money after bad and the "change" we will see is soup lines.

Answer 30

Educate yourself, please. The only reason the standard of living is as high as it is in the U.S. is because of unions. Drs., lawyers, teachers, are just some jobs that have some form of union. If it was up to business owners and the wealthy, we would all live like illegal immigrants, little pay, no health insurance, no rights, etc. Yes the car companies could have done the opposite of what the consumers wanted and made a small, fuel efficient car, and they should have had at least one, but the American public weren't buying them. You cannot make a product that doesn't sell and stay in business.



Now is the time to support American owned businesses and their employees who pay taxes that stay in the U.S.



Be American, Buy American! Peace.

Answer 31

Oh crikey, NO I do NOT agree but this guy will spend like the devil himself!

Answer 32

No, they should not be bailed out. Amazing Bush gets criticized for bailing out Freddie and Fannie by Obama, but now he is basically doing the same thing. Change? Believe me, not for the better.

Answer 33

The automotive industry is responsible for 1/10 jobs.....Let me repeat that ONE IN TEN JOBS

Answer 34

I'm left of Ralph Nader on this one.

Not one dime.

Not one penny.

Answer 35

JUST ANOTHER BUSINESS HURTING BECAUSE OF BAD BUSINESS DECISIONS. SCREW THEM. DOES ANYONE BAIL YOU OUT WHEN YOU SCREW YOUR CHECK BOOK UP OR RUN OUT OF MONEY BE FOR PAYDAY?

Answer 36

No, sink or swim!

Answer 37

NO MORE BAILOUTS!