I'm no fan of Mitt and I certainly feel for the many auto workers however, why is it the responsibility of the government to help? When was it decided that it is OK to give welfare checks to businesses who were not smart enough to maintain a positive balance sheet? I work for a company who has some financial woes and scandals but in spite of it all, they cleaned out the upper management, brought in new management who streamlined our business processes and are finally looking at a positive balance sheet and now debt so we can weather this economic storm. If we are to become an economic superpower again I say let survival of the fittest play itself out. I'd rather my tax dollars go to unemployment than to these greedy rich numskulls. Let them put in their own bonus money to bail themselves out.
I get what Romney says, but if all three car companies fail, more jobs will be lost in Michigan. And if that happens, holy shit, we're deeper in the hole than ever. I'm a college grad, without a job. My mom was let go from her company after 21 years. Our whole family is struggling, and we're not the only ones. Something needs to happen in Michigan. Someone come help us!!
The big 3 are an albatross around the neck of America. They refuse to progress the way Honda and Toyota have done. Even as the cost of fuel skyrocketed, they continued to produce huge, gas guzzling suv's and trucks. Their vehicles are lackluster, generic and lack any innovation whatsoever. They continue to deny that they are lagging behind the other manufacturers in gas milage, style, appearance, mechinacally and functionality. I watched GM president Rich Wagoner appear before congress and anyone can clearly see that he just doesn't get it. With his leadership GM will continue down the same destructive path they are currently on. They refuse to get with the program and progress. We cannot continue to bail out these industries that are not going to turn a profit. Mr. Wagoner was argumentative, verbally combative and refused to accept any constructive criticism or responsibility. He needs to use some of that bail out money to buy a clue.
It's unfortunate that there are so many people out there ignoring the fact that there are so many other companies out there that support the auto industry. Whoever said that for one auto job lost, 8 more people would lose theirs is right. Maybe that's even a conservative guess. I see a lot of angry, uninformed people commenting here. I think everyone needs to educate themselves on what the facts are before jumping on the "let Detroit burn" bandwagon. There is a much bigger picture to look at than just the managers, or just the unions, or the mpg. Detroit has wanted to make more fuel efficient cars or alternative energy driven cars for a long time. Guess who put the cabosh on that? Your oil-loving government. Same people who tripped over themselves to bail out Wall St. Same people who work for our government, but drive foreign vehicles. And I live in Michigan, right outside of Detroit, I know what it's like here.
If Detroit went bankrupt, that would hurt the economy even more. I don't necessarily agree with the AMOUNT of money that was given, but I do think some help was needed AND that help should be given with rules and stipulations (ie…paycuts for corporate bigwigs who make too much in the first place).
Finally! Someone who has enough guts to say the right thing. They will not go out of business if they declared bankruptcy. They could reorganize and become more competitive.
detorit is already almost bankrupt. i live right outside of it, and everytime i go there, it's so sad to see all the homeless people and the houses that are absolute shit.
if detroit were to go backrupt, that would mean all of michigan would be in even shittier condition, and i'm sorry but i just can't agree with that since i live here and everybody i care about lives here.
plus, you'd have to start buying foreign cars, which tend to be more expensive.
1 in 10 of American jobs are somehow linked to the Auto Industry. If the auto industry dies, then it's going to have a HUGE ripple effect on other jobs, and make the economy even worse.
Yes the CEOs are stupid and should be fired (replace them with people who aren't failures), but if these companies go belly-up, then millions will be effected at a certain point.
it's surreal to hear romney speak this way especially when he's such a right winger with his pro-life, pro-het marriages, and pro-iraq war stance. but, i actually think he's dead on with his comments esp and even the alternative energy slant. only thing is this statement comes a bit too late. american car companies have been wasteful and producing substandard cars for decades now. and low tariffs on foreign cars didn't help. yes, let us car companies go bankrupt or get new management or merge or whatever they need to do to change. they cannot be a burden to us anymore.
TRUE TRUE TRUE
.
BAILOUTS ONLY KEEP COMPANIES FROM FINDING A PROFITABLE BUSINESS MODEL TO OPERATE UNDER.
.
THEY'LL JUST BE CRYING FOR MORE MONEY LATER INSTEAD OF TRYING TO BECOME SELF SUFFICIENT AND PROFITABLE LIKE ALL OTHER COMPANIES HAVE TO BE.
.
TIMES ARE GONNA BE HARD BECAUSE WE RAN OURSELVES INTO THE GROUND AND HAVE NO DESIRE TO WORK HARD ANYMORE FOR WHAT WE WANT.
ALL YOU PEOPLE WHO VOTED FOR OBAMA BECAUSE THE REPUBLICANS ARE ANTI GAY MARRIAGE, YOUR GUY ISN'T SUPPORTING GAY MARRIAGE EITHER!!
.
YOU DING DONG PEOPLE MAKE ME LAUGH NOW AT YOUR, GEE MAYBE EXPERIENCE IN THE WORLD OF GLOBAL ECONOMICS WOULD HAVE BEEN SOMETHING TO CONSIDER WHILE DETERMINING WHO TO VOTE FOR.
.
BUT … HEY … AT LEAST WE HAVE SOMEONE "COOL" WHO IS GIVING HIS HIGHEST PRIORITY TO HIS FIRST MAJOR PRESIDENTIAL DECISION OF CHOOSING A DOG.
me84, I'm sorry, but you don't know all the facts. My ex-husband worked and still works for a GM plant. He is a drunk, and almost everyone he works with is on drugs or drinks–AND THEY DO IT ON THE JOB. They grill food ON THE JOB. They clock in, leave and go to clubs AND GET DRUNK, and then go back and clock out. They all look for a way to get on worker's comp, because they get to stay home and draw 85% of their pay, which is $96 per hour, including benefits. The reason that Honda, Nissan, and Toyota build plants in the southeast is that there is no UAW stronghold in the southeast (there was an article about this on the MSN homepage yesterday). The UAW is why most of the plants have already closed–they refuse to negotiate. They are the ones that don't care if their employees lose their jobs. They refuse to budge. The UAW has already stated that the taxpayers can bail the companies out, BUT THEIR WORKERS REFUSE TO NEGOTIATE ON SALARY AND BENEFITS. They are the ones that need to bail themselves out. I'm sorry for people for losing their jobs, but people lose their jobs everyday and Uncle Sam doesn't come and get them out of the hole. Hell, if they would give me just $100,000 of the bailout, that would get me completely out of debt–house and cars. Why don't I matter? Because I don't fly on a company jet?
YOU KNOW WHAT FUCK ALL YOU FUCKHEADS WHO HAVE NO IDEA WHAT THE FUCK MICHIGAN IS GOING THROUGH! WHY SHOULD WE PAY FOR DUMBASS CEOS AND RICH CORPORATE FUCKS MISTAKES? THE FUCKING WHOLE STATE OF MICHIGAN IS APART OF GM/FORD/CHRYSLER IT ISN'T JUST DETROIT YOU ASSHOLES.. ITS THE ENTIRE STATE! AND THEN IT WILL AFFECT ALL OF YOUR ASSHOLE STATES! YOU HAVE NO IDEA WHAT LIFE IS LIKE HERE IN MICHIGAN AND HOW IT HAS BEEN, YOU THINK THE UNITED STATES IS IN A DEPRESSION WELL MICHIGAN HAS BEEN IN IT FOR A LOT LONGER THEN ANY OF YOU.. AND IT ISN'T ALL OF OUR FAULTS AND PEOPLE HAVE NO CONTROL OVER IT JUST LIKE NONE OF YOU DO! WE NEED HELP WE HATE ASKING FOR IT BUT WE NEED IT, AND IF WE DON'T GET IT, ITS ONLY A MATTER OF TIME TIL IT HITS YOU ALL HARD LIKE ITS HITTING US.
ITS DISGUSTING WHAT THEY USE MONEY ON, AND ETC BUT THEY SHOULD HAVE A PLAN AND CUTS BE MADE TO THE CEOS AND HEAD GUYS OF THE CORPORATIONS.. I AGREE! BUT THE STATE WILL BE NO MORE, NO MORE HEALTH CARE, NO MORE PEOPLE BUYING FOOD, YOU DONT UNDERSTAND ITS ALL MICHIGAN HAS.
I sorta agree. The rich conservatives at the top believe in survival of the fittest unless it's when THEIR ship is sinking… well guess, what, the wealthy ships are sinking left and right. I say gov. stay out and let these MBA gods figure it out… what, they didn't learn how to deal with such issues in macro econ 101 at Wharton?
fuckers. Know they know what all the bottom feeders deal with every day of their lives.
Mitt and Michigan go together like Peanut Butter and Ketchup…a good combo? I think not. Detroit needs to be revived, if the evil insurance agencies and banks can get saved by the govt. why can't Detroit besides Detroit got screwed by that Mayor and Governor Granholm is digging holes deeper so I think if Washington came in then maybe maybe they could save the state from suffering the unemployment rate is terrible there now…it's an enigma of gigantic proportions.
I think detroit does need to go bankrupt- file chapter 11.
THen they will reorganize, and then after, they should be bailed out, as in given money with oversight and stipulations that govern production and fuel economy. This is the governments chance to get automakers in the US to actually be competitive. No doubt that honda and toyota are reorganizing, a bail out will not change anything without a forced perspective change.
This is so unbelievably wrong. Holy shit.
This bailout is the thing that can save the automotive industry. Hell, it's not even a bailout. It's a loan. A loan GM & co. would have taken out from other sources had the credit market not gotten so frozen up.
What GM, Ford and Chrysler need is operating money. And don't think they're not restructuring already. They've completely reorganized the white color jobs–which is why half of the people I know who work for the automotive industry are currently out of work. The problem is that, without operating money, these companies will collapse.
America can't afford to let the Big 3 collapse. Period.
"That means new labor agreements to align pay and benefits to match those of workers at competitors like BMW, Honda, Nissan and Toyota. Furthermore, retiree benefits must be reduced so that the total burden per auto for domestic makers is not higher than that of foreign producers."
I agree. It's not up to the company to make certain you have x amount of dollars when you retire.
A base should be established, and that's all. Everything else should be the employee's responsibility, and all bonuses should as well. Having the unions that this point has been the biggest problem. Get rid of them completely!!
I agree with him…too bad he is such an ***! If the companies are able to fly their execs in luxury when ever and where ever they wanna go…they can find a way to fix their problem. Cut back on your spending…duuuh! I am a mother of two, struggling here…and the government doesn't help me!!! I can't go to them and ask for such amount of money so that my family can be set!!! I didn't even qualify for a rebate check!!! Yet, these companies think they deserve our support?!! They think that I wanna spend my taxes on them?! Come on now….get real!!! If I was to let u have that bail out…does that mean I get a brand new car (with heat) to go to work, take my son to school and my daughter to daycare?!! Hell no!!! So screw you too! Still…even though I agree with Mitt…I still don't like him… and I warn you, if he runs for Pres again…don't give him your vote…we had to deal with him here in MA and let me tell you… dude is so freaking conceited…he didn't do anything for us… and he didn't even help his Lieutenant run for Governor here! …he literally thinks he is the ****!!! Still I agree with him on this…and ONLY this!!!
There are different forms of bankruptcy. These fools need to file for chapter 11 and then restructure; the airlines did it, so what makes these losers any different. Of course the Dems want to bail the big 3 out in order to reward the UAW who poured mucho money into this election and never ye mind that the UAW helped destroy the American Auto Industry in the first place. Unions = parasites and the carmaker ends up passing on all those costs from irrational Union demands on to the consumers. Japanese cars are superior in quality and performance and are more affordable. Nissan, Honda and Toyota are much more competitive without unions. The big 3 need to utilize the same business model as the Japanese but they won't be allowed to because of the unions.
The problem that I have with the car industry is the UAW. Did anyone not hear what they have said about this situation? Go for any bailout you want, but our workers refuse to budget on salary and benefits. This is part of the reason they are in this predicament to begin with. The plant in my hometown closed and GM sold it out, because they can't afford to pay people $96 an hour (that's their hourly rate, including salary and benefits). Re: peopleplease –
I get what Romney says, but if all three car companies fail, more jobs will be lost in Michigan. And if that happens, holy shit, we're deeper in the hole than ever. I'm a college grad, without a job. My mom was let go from her company after 21 years. Our whole family is struggling, and we're not the only ones. Something needs to happen in Michigan. Someone come help us!! Re: Krafty –
Help yourselves. You keep voting in corrupt and ineffective leadership over the years and then you whine about the results.
Yeah. I think a bailout would lead to another bailout and then another even though 25 billion seems like chump change it's still ridiculous to think that they can change to a profitable company just by writing them a check. Think of it this way, most of the factories are overseas so less US citizens would benefit from the bailout. So in a sense we would be paying higher taxes to save the jobs of foreigners. Why aren't those other countries trying to bail them out?
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I'm no fan of Mitt and I certainly feel for the many auto workers however, why is it the responsibility of the government to help? When was it decided that it is OK to give welfare checks to businesses who were not smart enough to maintain a positive balance sheet? I work for a company who has some financial woes and scandals but in spite of it all, they cleaned out the upper management, brought in new management who streamlined our business processes and are finally looking at a positive balance sheet and now debt so we can weather this economic storm. If we are to become an economic superpower again I say let survival of the fittest play itself out. I'd rather my tax dollars go to unemployment than to these greedy rich numskulls. Let them put in their own bonus money to bail themselves out.
hi is right. he should have been the Republican candidate for President.
I get what Romney says, but if all three car companies fail, more jobs will be lost in Michigan. And if that happens, holy shit, we're deeper in the hole than ever. I'm a college grad, without a job. My mom was let go from her company after 21 years. Our whole family is struggling, and we're not the only ones. Something needs to happen in Michigan. Someone come help us!!
The big 3 are an albatross around the neck of America. They refuse to progress the way Honda and Toyota have done. Even as the cost of fuel skyrocketed, they continued to produce huge, gas guzzling suv's and trucks. Their vehicles are lackluster, generic and lack any innovation whatsoever. They continue to deny that they are lagging behind the other manufacturers in gas milage, style, appearance, mechinacally and functionality. I watched GM president Rich Wagoner appear before congress and anyone can clearly see that he just doesn't get it. With his leadership GM will continue down the same destructive path they are currently on. They refuse to get with the program and progress. We cannot continue to bail out these industries that are not going to turn a profit. Mr. Wagoner was argumentative, verbally combative and refused to accept any constructive criticism or responsibility. He needs to use some of that bail out money to buy a clue.
It's unfortunate that there are so many people out there ignoring the fact that there are so many other companies out there that support the auto industry. Whoever said that for one auto job lost, 8 more people would lose theirs is right. Maybe that's even a conservative guess. I see a lot of angry, uninformed people commenting here. I think everyone needs to educate themselves on what the facts are before jumping on the "let Detroit burn" bandwagon. There is a much bigger picture to look at than just the managers, or just the unions, or the mpg. Detroit has wanted to make more fuel efficient cars or alternative energy driven cars for a long time. Guess who put the cabosh on that? Your oil-loving government. Same people who tripped over themselves to bail out Wall St. Same people who work for our government, but drive foreign vehicles. And I live in Michigan, right outside of Detroit, I know what it's like here.
If Detroit went bankrupt, that would hurt the economy even more. I don't necessarily agree with the AMOUNT of money that was given, but I do think some help was needed AND that help should be given with rules and stipulations (ie…paycuts for corporate bigwigs who make too much in the first place).
Finally! Someone who has enough guts to say the right thing. They will not go out of business if they declared bankruptcy. They could reorganize and become more competitive.
Re: _Alice_ –
I know. You're more interested in Britney Spear than the economy. How much allowance do you get a week?
detorit is already almost bankrupt. i live right outside of it, and everytime i go there, it's so sad to see all the homeless people and the houses that are absolute shit.
if detroit were to go backrupt, that would mean all of michigan would be in even shittier condition, and i'm sorry but i just can't agree with that since i live here and everybody i care about lives here.
plus, you'd have to start buying foreign cars, which tend to be more expensive.
Something I read recently:
1 in 10 of American jobs are somehow linked to the Auto Industry. If the auto industry dies, then it's going to have a HUGE ripple effect on other jobs, and make the economy even worse.
Yes the CEOs are stupid and should be fired (replace them with people who aren't failures), but if these companies go belly-up, then millions will be effected at a certain point.
it's surreal to hear romney speak this way especially when he's such a right winger with his pro-life, pro-het marriages, and pro-iraq war stance. but, i actually think he's dead on with his comments esp and even the alternative energy slant. only thing is this statement comes a bit too late. american car companies have been wasteful and producing substandard cars for decades now. and low tariffs on foreign cars didn't help. yes, let us car companies go bankrupt or get new management or merge or whatever they need to do to change. they cannot be a burden to us anymore.
Re: Dick Gozinya – NO YOU ARE FUCKFACE
TRUE TRUE TRUE
.
BAILOUTS ONLY KEEP COMPANIES FROM FINDING A PROFITABLE BUSINESS MODEL TO OPERATE UNDER.
.
THEY'LL JUST BE CRYING FOR MORE MONEY LATER INSTEAD OF TRYING TO BECOME SELF SUFFICIENT AND PROFITABLE LIKE ALL OTHER COMPANIES HAVE TO BE.
.
TIMES ARE GONNA BE HARD BECAUSE WE RAN OURSELVES INTO THE GROUND AND HAVE NO DESIRE TO WORK HARD ANYMORE FOR WHAT WE WANT.
ALL YOU PEOPLE WHO VOTED FOR OBAMA BECAUSE THE REPUBLICANS ARE ANTI GAY MARRIAGE, YOUR GUY ISN'T SUPPORTING GAY MARRIAGE EITHER!!
.
YOU DING DONG PEOPLE MAKE ME LAUGH NOW AT YOUR, GEE MAYBE EXPERIENCE IN THE WORLD OF GLOBAL ECONOMICS WOULD HAVE BEEN SOMETHING TO CONSIDER WHILE DETERMINING WHO TO VOTE FOR.
.
BUT … HEY … AT LEAST WE HAVE SOMEONE "COOL" WHO IS GIVING HIS HIGHEST PRIORITY TO HIS FIRST MAJOR PRESIDENTIAL DECISION OF CHOOSING A DOG.
Agree. Let them go bankrupt and restructure everything.
me84, I'm sorry, but you don't know all the facts. My ex-husband worked and still works for a GM plant. He is a drunk, and almost everyone he works with is on drugs or drinks–AND THEY DO IT ON THE JOB. They grill food ON THE JOB. They clock in, leave and go to clubs AND GET DRUNK, and then go back and clock out. They all look for a way to get on worker's comp, because they get to stay home and draw 85% of their pay, which is $96 per hour, including benefits. The reason that Honda, Nissan, and Toyota build plants in the southeast is that there is no UAW stronghold in the southeast (there was an article about this on the MSN homepage yesterday). The UAW is why most of the plants have already closed–they refuse to negotiate. They are the ones that don't care if their employees lose their jobs. They refuse to budge. The UAW has already stated that the taxpayers can bail the companies out, BUT THEIR WORKERS REFUSE TO NEGOTIATE ON SALARY AND BENEFITS. They are the ones that need to bail themselves out. I'm sorry for people for losing their jobs, but people lose their jobs everyday and Uncle Sam doesn't come and get them out of the hole. Hell, if they would give me just $100,000 of the bailout, that would get me completely out of debt–house and cars. Why don't I matter? Because I don't fly on a company jet?
I agree. Sorry.
I understand the sentiment, but this guy'd probably vote against extended unemployment benefits in the same breath sooo ….
YOU KNOW WHAT FUCK ALL YOU FUCKHEADS WHO HAVE NO IDEA WHAT THE FUCK MICHIGAN IS GOING THROUGH! WHY SHOULD WE PAY FOR DUMBASS CEOS AND RICH CORPORATE FUCKS MISTAKES? THE FUCKING WHOLE STATE OF MICHIGAN IS APART OF GM/FORD/CHRYSLER IT ISN'T JUST DETROIT YOU ASSHOLES.. ITS THE ENTIRE STATE! AND THEN IT WILL AFFECT ALL OF YOUR ASSHOLE STATES! YOU HAVE NO IDEA WHAT LIFE IS LIKE HERE IN MICHIGAN AND HOW IT HAS BEEN, YOU THINK THE UNITED STATES IS IN A DEPRESSION WELL MICHIGAN HAS BEEN IN IT FOR A LOT LONGER THEN ANY OF YOU.. AND IT ISN'T ALL OF OUR FAULTS AND PEOPLE HAVE NO CONTROL OVER IT JUST LIKE NONE OF YOU DO! WE NEED HELP WE HATE ASKING FOR IT BUT WE NEED IT, AND IF WE DON'T GET IT, ITS ONLY A MATTER OF TIME TIL IT HITS YOU ALL HARD LIKE ITS HITTING US.
ITS DISGUSTING WHAT THEY USE MONEY ON, AND ETC BUT THEY SHOULD HAVE A PLAN AND CUTS BE MADE TO THE CEOS AND HEAD GUYS OF THE CORPORATIONS.. I AGREE! BUT THE STATE WILL BE NO MORE, NO MORE HEALTH CARE, NO MORE PEOPLE BUYING FOOD, YOU DONT UNDERSTAND ITS ALL MICHIGAN HAS.
YAY MITT!! Absolutely Correct- F*ck Detroit and all the greedy unions- let em' die
I sorta agree. The rich conservatives at the top believe in survival of the fittest unless it's when THEIR ship is sinking… well guess, what, the wealthy ships are sinking left and right. I say gov. stay out and let these MBA gods figure it out… what, they didn't learn how to deal with such issues in macro econ 101 at Wharton?
fuckers. Know they know what all the bottom feeders deal with every day of their lives.
Mitt and Michigan go together like Peanut Butter and Ketchup…a good combo? I think not. Detroit needs to be revived, if the evil insurance agencies and banks can get saved by the govt. why can't Detroit besides Detroit got screwed by that Mayor and Governor Granholm is digging holes deeper so I think if Washington came in then maybe maybe they could save the state from suffering the unemployment rate is terrible there now…it's an enigma of gigantic proportions.
I hate to say this, but he's right. I would never an American car. American car makers should invest in alternate fuel technology.
i agree
I think detroit does need to go bankrupt- file chapter 11.
THen they will reorganize, and then after, they should be bailed out, as in given money with oversight and stipulations that govern production and fuel economy. This is the governments chance to get automakers in the US to actually be competitive. No doubt that honda and toyota are reorganizing, a bail out will not change anything without a forced perspective change.
This is so unbelievably wrong. Holy shit.
This bailout is the thing that can save the automotive industry. Hell, it's not even a bailout. It's a loan. A loan GM & co. would have taken out from other sources had the credit market not gotten so frozen up.
What GM, Ford and Chrysler need is operating money. And don't think they're not restructuring already. They've completely reorganized the white color jobs–which is why half of the people I know who work for the automotive industry are currently out of work. The problem is that, without operating money, these companies will collapse.
America can't afford to let the Big 3 collapse. Period.
"That means new labor agreements to align pay and benefits to match those of workers at competitors like BMW, Honda, Nissan and Toyota. Furthermore, retiree benefits must be reduced so that the total burden per auto for domestic makers is not higher than that of foreign producers."
I agree. It's not up to the company to make certain you have x amount of dollars when you retire.
A base should be established, and that's all. Everything else should be the employee's responsibility, and all bonuses should as well. Having the unions that this point has been the biggest problem. Get rid of them completely!!
Sure, Mitt - and what should we do about all the people employed in the auto industry? Let 'em all starve? Shoot 'em? Throw 'em in jail?
I agree with him…too bad he is such an ***! If the companies are able to fly their execs in luxury when ever and where ever they wanna go…they can find a way to fix their problem. Cut back on your spending…duuuh! I am a mother of two, struggling here…and the government doesn't help me!!! I can't go to them and ask for such amount of money so that my family can be set!!! I didn't even qualify for a rebate check!!! Yet, these companies think they deserve our support?!! They think that I wanna spend my taxes on them?! Come on now….get real!!! If I was to let u have that bail out…does that mean I get a brand new car (with heat) to go to work, take my son to school and my daughter to daycare?!! Hell no!!! So screw you too! Still…even though I agree with Mitt…I still don't like him… and I warn you, if he runs for Pres again…don't give him your vote…we had to deal with him here in MA and let me tell you… dude is so freaking conceited…he didn't do anything for us… and he didn't even help his Lieutenant run for Governor here! …he literally thinks he is the ****!!! Still I agree with him on this…and ONLY this!!!
Mitt Romney is an economic genius, end of story.
There are different forms of bankruptcy. These fools need to file for chapter 11 and then restructure; the airlines did it, so what makes these losers any different. Of course the Dems want to bail the big 3 out in order to reward the UAW who poured mucho money into this election and never ye mind that the UAW helped destroy the American Auto Industry in the first place. Unions = parasites and the carmaker ends up passing on all those costs from irrational Union demands on to the consumers. Japanese cars are superior in quality and performance and are more affordable. Nissan, Honda and Toyota are much more competitive without unions. The big 3 need to utilize the same business model as the Japanese but they won't be allowed to because of the unions.
The problem that I have with the car industry is the UAW. Did anyone not hear what they have said about this situation? Go for any bailout you want, but our workers refuse to budget on salary and benefits. This is part of the reason they are in this predicament to begin with. The plant in my hometown closed and GM sold it out, because they can't afford to pay people $96 an hour (that's their hourly rate, including salary and benefits).
Re: peopleplease –
Exactly.
I get what Romney says, but if all three car companies fail, more jobs will be lost in Michigan. And if that happens, holy shit, we're deeper in the hole than ever. I'm a college grad, without a job. My mom was let go from her company after 21 years. Our whole family is struggling, and we're not the only ones. Something needs to happen in Michigan. Someone come help us!! Re: Krafty –
Help yourselves. You keep voting in corrupt and ineffective leadership over the years and then you whine about the results.
They dug there own graves…..don't bail them out. Let them file for bankruptcy!!!!! We can't keep bailing out companies that mismanage their funds.
He's right.
Perez, please make the bailouts stop!
Yeah. I think a bailout would lead to another bailout and then another even though 25 billion seems like chump change it's still ridiculous to think that they can change to a profitable company just by writing them a check. Think of it this way, most of the factories are overseas so less US citizens would benefit from the bailout. So in a sense we would be paying higher taxes to save the jobs of foreigners. Why aren't those other countries trying to bail them out?