Detroit: Begging For Help

Any business that becomes so large, so heavily inter-twined within the economic well-being of the country, should be broken up into smaller businesses.

The net effect would be fewer monopolies, increased competition, more jobs, and an economic seawall against the devastateingly negative impact when one the now smaller businesses go under.

No more government bailouts would be required, no more dealing with businesses wherein upper "management" does such a poor job of preparing for the future or failing to respond to changes in consumer buying habits. The free market would again "eat its own" as it is designed to do.

Government bailouts are socialism, they reward ineptitude, and foster a mentality that there are no repercussions ofr those responsible.

Re-tool Detroit? It's a whole lot easier to build new than re-design. How about we take their bailout and fund brand new companies? One dedicated from the beginning to producing the highly efficient vehicles needed to move us further away from dependence on foreign oil? Certainly, there exists a skilled labor force waiting for those jobs. In fact, you could allow the current upper management teams at Ford, GM, and Chrysler to submit their resumes. I'm certain a position within the new company could be found that expertly met their qualifications...

While I understand that GM made SUV's in the 1990's and 2000's, they did so because of demand for those products. Ford, Chrysler, Nissan, Toyota...all made SUVs that made profit for their respective companies. And the quality arguement is a tired arguement. GM's quality is not perfect, but it's in the same category as all the foreign automakers. True or False: Toyota recalled more vehicles in the U.S. than it sold the last two years. True. Why isn't anyone saying anything about the "POS's" that they have produced?

While I love the fact that AIG gets another 40 billion (on top of their first 110 billion) and no one seems to bat an eye, when the U.S. automakers need help, everyone is there to jump down their throats.

Let's say that GM, Ford, and Chrysler fail and close their doors... Who pays for their pensions? The U.S. people (by way of the gov't). Who pays for the health insurance? The U.S. people (by way of the gov't). Who pays for unemployment of over the 3 million jobs that will be eliminated? The U.S. people (by way of the gov't). So for all the people saying that they should fail and go under, what's better? A loan that has strings attached to the automakers, or 3 million people on unemployment, along with 1.1+ million peoples pensions and health care? You think your taxes are high now? Just wait.

M.P.L. - concerned citizen

Let them fail, so they can be broken up, taken over by new, innovative ownership, and move on. Too big to fail really means "too big". The solution is to make firms smaller, so they are not too big to fail (Detroit, finances, banks, etc.)

Auto industry is looking for cash. The government will give it to them. But what do the taxpayers get? No matter how much money we give them, nobody will buy thier cars. How does this help anyone? I think the government should use the money to buy 1 million cars from these clowns. Have a lottery to give them out free to taxpayers. I would be pissed if I didn't get one, but thats the luck of the draw. Now the auto makers would have to make more cars and keep the people working. This way the money goes to the people, instead of these idiots who kept making SUV's instead of reliablegas savers.

GM and Ford took advantage of the "sport-utility" loophole in the fuel efficiency standards years ago to cheat their way out of having to spend a few extra bucks a car in the short term to help the environment in the long term.

Now they are paying the price, since no one wants their poorly-made, gas guzzling POS's anymore. They are getting what they deserve: to go under. If there is going to be any government assistance associated with these companies, it should directly go to the workers who will be out of jobs, not the companies themselves, who have proven themselves infested with greedy inept managers.

I guarantee you if there is a "trickle-down" bailout, the displaced workers will somehow manage to not see a penny of that money, and the companies will still go under.

Watch and see.

Bail out what? Where will it end? Small businesses are the back bone of the US economy. Why not bail out every small business? Too big to fail is a mantra that will take down the entire US way of living. The printing of execess dollars to fund all this crap will be our demise. They haven't begun printing yet, but when they do say good bye to the value of our currency and say hello to hyoer inflation. GM should fail because it has a failed product. Time to clean up and make our economy strong again by building quality based upon longevity and not a replacement parts society. James Beauparlant, Las Vegas

Bail out what? Where will it end? Small businesses are the back bone of the US economy. Why not bail out every small business? Too big to fail is a mantra that will take down the entire US way of living. The printing of execess dollars to fund all this crap will be our demise. They haven't begun printing yet, but when they do say good bye to the value of our currency and say hello to hyoer inflation. GM should fail because it has a failed product. Time to clean up and make our economy strong again by building quality based upon longevity and not a replacement parts society. James Beauparlant, Las Vegas.

This is the perfect opportunity to force US auto makers into re-tooling to produce more energy efficient vehicles as well as electric and hydrogen powered cars. Tie any bailout into a total restructuring of the auto manufacturing industry.

Here is the problem in a nutshell:

GM lost $39 BILLION in 2007, and its CEO Wagoner earned $2.2M in salary, plus millions more in incentive pay, and he STILL has a job.

Toyota earned $16.5 billion in fiscal 2007, and its CEO Hiroshi Okuda earned $903K.

So Mr. Wagoner, please explain to me why we have to bail out your sorry company?

Well stated. CH 11 bankruptcy does not really mean the companies are going out of business. Sure plays at the heart strings of America. A few years back GM axed health care for its white collar retired work force... but not the blue collar. How come they too did not have to follow. How many billions will that free up??? Why are these people still proctected. Do we need to hold the hands of the blue collar work force forever. I am tired of knowing too many peole who work for the Big 3 earning 95% of pay to stay home and not work. Or whine that they can't live on 40 hours a week... like I was taught to do as a kid. Heck, I have a buddy who only worked @7 months last year and so far 6 this year with 95% pay. I say ditch the UAW and have these people reapply and get paid an apporperate wage... or go to college/ trade school and do something else. I too worked in the auto business for 10 years and my wife for 7. We got out. Maybe I was just jealous that i couldn't make $125,000 pushing a broom and couldn't spell my own street name. True story of a guy buying a car and filling out a credit app with help from him 11 year old daughter.

Let me guess, it takes a college degree to stand on a line and put lug nuts on a wheel. Is that what your trying to get us to buy into? Its the unions who are killing the auto industry and make no mistake about it. Dont believe it? How then are the other Non Union car companies thriving while the big 3 pour more money into their retirees then their current staff? Get real people. Kill the Unions or they will kill the insustry. That is what you can take to the bank and bet your savings on. Thats as true as the sun rises in the east. Wake up America, extortion groups are forcing the auto insustry down the tubes and its called Unions!! Ex Union President.

And what did they say the other day? In this economic downturn, they were going to stop putting money iinto product development. Well, that is the dumbest thing I ever heard. if they manufactured better, more fuel efficient cars, they could compete better with Japanese auto makers. I want to be able to buy American cars, and to invest in American car company stocks, but they have to do their part and produce a car that can compete with Toyota, Honda and Subaru. Produce development is the only way to get there. Someone has to tell these people to elect better leaders for their companies, like we just did for our country.

I have mixed feelings. I have seen "Who killed the Electric Car." And, I'm apalled by GM's actions. As, in the Wall Street fiasco, we're looking at poor management. Once again, the American public is being asked to "bail out," companies, that have "screwed" them for years. On one hand, why should WE save companies, that produce products, most of us can't afford? On the other hand, a loss of 3 million jobs is probably correct. Common sense has been "short circuited" by GREED, at every turn. Before we invest anything, we need to know that these companies, are going to produce affordable, fuel efficient vehicles, for the American public. In the wake of the banking crisis, we now find out, AIG is getting another $40 billion. The deception Never stops!

Why bail out Detroit without major changes in how they are doing business. Between UAW, pensions, health care, and poor business management they would burn through the next billion as fast as the last. Get rid of the union, eliminate pensions and free health care going forward. They have to be competitive with the other foreign car manufacturers that currently have factories here. Corporations no longer offer lifetime pensions, and many don't offer free health care. The unions have outlived their useful life. It's a luxury that the worker can no longer afford if he wants to have continued employment.

So they finally decided to put the "brakes" on executive bonuses? When did this finally dawn on them to be a good idea? It seems to me and many others that paying bonuses to people who are driving the companies towards bankruptcy is not a really good idea. I know the catch is always a "sports analogy". Athletes are paid more! Yes maybe, but we can chose not to go see them, and their advertising $$$ make those salaries possible. Cars however, we all need. And they should be efficient, high quality, dependable cars. Skip all the bells and whistles and give us not what we want, but rather what we need. Efficiency has been attained in European markets, why not here.? Is it the same problem that got the housing market in trouble? Too large of houses, not enough income? I'd fore go the "heated seats" for a more efficient , dependable, affordable car.

tiger Jr;
Detroit needs a good purge to get rid of the bad habits developed over decades. Chapter 11 or 7 would bring this industry to reality. Supporting their bad management practices and agreements at tax payers expense will reward and continue this behavior.

While most of us in private sector jobs have to deal with no company pensions, reduced benefits, and substantially increased heath care costs, the UAW in the Big 3 have had a continuous gravy train in all areas. How can you fix Detroit? 1). Limit CEO remuneration, 2). Put BIG money into R&D, and 3). Fire the entire UAW workforce. Just as the PATCO union felt they were indispensable, the UAW is next.