The Next Bailout: Detroit

Seriously? "I dont see it as a national problem, its their problem". Detroit is PART of this nation, and whats bad for any part of the nation is bad for everyone in the nation. The entire auto industry is suffering, and nobody seems to care. The fact that most of the auto industry is based from Michigan and in Detroit, just makes it a WORSE problem for Detroit. Its just plain ignorant to say its not a national problem when the auto industry employs so many and is the foundation of one of the largest employment unions in America. I think its time people around the US start recognizing Detroit for more than a scar like many seem to believe. The auto industry could help the economy a great deal. Lastly, in order to know something about what the problem is, you have to visit and experience first hand what is going on. I highly doubt these people visit or give a hoot about Detroit, and thats a shame. What if nobody woulda cared about New York or New Orleans?

I don't understand why the Federal Government is basically giving billions on top of billions to the financial world (who DONT pay taxes) which effects relatively few people compared to the auto industry which effects millions of TAX PAYING people as employees and customers. But then again I'm just a regular working stiff trying to get by

The bottom line is that the big three have been on a uneven playing field for several decades now. Japanese auto makers entered the U.S. market without any legacy costs what-so-ever. The big three have been taking care of hundreds of thousands of retired Americans for a generation -- These are our Brothers, Uncles, Fathers, Mothers Sisters etc. . This is the system these manufacturers have evolved in. This what the American worker demanded in post World War II America. Yes, top management salaries have been ridiculous, and although it makes a high visibility target for media ridicule (and rightfully so) the fact of the matter is that top mangement salaries account for only a fraction of total over head (Less than 1%). The U.S. is spending Eleven billion dollars a month on Iraq. Thats 132 billion dollars a year!!! Just imagine if that money were to go to American Automotive company's with the firm stipulation that - at least - 80% would be used for fast track develpment of truly viable altenate energy vehicles -- Electric, Hydrogen, Hybrids etc ....... Just imagine would could be accomplished with this kind of funding (with strict oversight of course) .... We could launch a "moon shot" type program for "fast track" development and deployment of a generation of new vehicles that could truly break our dependence on radical, unstable governments for our energy requirements in - I would think - as little as 8 to 10 years.

It takes a lot of cash to take care of all the politicians in Washington. The people of Michigan are the ones being hurt and the sad thing is none of those idiots seems to cares.

Years back when Congress tried to get the Big Three to continue improving fuel efficency after 1985, they cried to Congress that it would impose economic hardship on the Auto industry. Being greedy they made their own bed so let them lie in it.

It takes a lot of cash to take care of all the politicians in Washington. The people of Michigan are the ones being hurt here and the sad thing is none of those idiots cares.

I just lost $100 on a horse race. Where can I get a bailout? I really need it, or I'll have to stop betting.

Don't be SHOCKED if you get the peoples money!!!
You have surley taken enough with your over priced autos !!!

I suggest for those that need an " I told you so" please read Lee Iacocca's :An Autobiography, copyyright in 1984.

When we we ever learn?

These folks did not wake up in the 70's oil embargo and refused to see that mpg needed to increase even though we had cheap oil and energy. They did not think about the future only living in the present. We should not bail them out this is a management problem and they took their millions in pay and bonuses even when the auto makers were losing money. The auw is part of it too when someone putting a bolt on makes a value of 30.00 an hour or more- greed struck them all and now reality is crashing in.

Refer to Lee Iacocca's book: An Autobiography. Coprighted in 1984
I believe he spelled it out very clear as to the direction of the US car manufacturing market. When we ever learn?

I think under Obama's plan they could be re-tooled and given incentives to make more environmentally , energy efficient alternative fuel based vehicles, which would include tax breaks and "bailout", but just bailing them out without those strings would be disasterous for them and us all. Mark-Republican in PA

When the big three layoff more people and close more plants because they can't get money loaned to them. Then the same people that are crying not to loan them money are going to say why did all the job goto China. The answer is simple China give money to get plants and jobs in their county! What do you think America is doing wrong? If the loan money is tied to new plants and jobs in the USA , then the goverment should loan them the money!

I think under Obama's plan they could be re-tooled and given incentives to make more environmentally , energy efficient alternative fuel based vehicles, which would include tax breaks and "bailout", but just bailing them out without those strings would be disasterous for them and us all. Mark-Republican in PA.

Well, I'm in GM Parts at the dealer level. Its already bad with dealer closures and I've been fortunate enough (so far) not to have lost my job because of the "train wreck" economy.
I believe if the govenment is going to concider bailing out the "Big 3" they should also insist as a condition that a comprehensive review of "reasonable" executive salaries and "reasonable" union benifits be introduced.

When economics are in this bad a shape its time for EVERYONE to be reasonable for the good of all. How many millions do executives need to make??? At the same time, and mind you I was in the Teamsters for 10 years, how much of your benifits should your employer be responcible for???

So that leads to another question...how did the cost of an average family car get to be more than my parents paid for a house on 5 acres back in the middle 70's???
And with so many parts and assemblies coming from seemingly everywhere in the world but here???

Its time to wake the hell up, manufacture here, buy here, put our people back to work and stop paying executives millions a year in salary and bonus money...for what?

The writting is on the wall, it took this country less than two centuries to become the greatest most powerful place in history, but its on the downward slide and its only going to take another generation or two to destroy itself.
Imports more than exports, selling off assets to foreign interests...greed, the rich get richer and the poor get poorer but no one gives a ****... "As long as I get mine, screw everyone else, if this country falls apart, I'll just move to Europe"