In Defense of Detroit

What a load of crap to support this bailout attempt! Why should we reward the abysmal management of these companies by bailing them out. For 15-20 years they have refused to see the writing on the wall and produce higher quality products that ANY educated consumer would want to buy. In addition, we should not reward the pathetic interaction between management and unions. They have refused to work together and are seeing the results of their efforts. This is exactly what happens (and should) in a free enterprise system when the organization is poorly run.

Perhaps they should just be allowed to fail. They've all known for years the MPG would someday kill them by what they produce overseas, but they continued to ignore that fact; and also continued to ignore the fact that they again would be going broke. We have bailed them out b/4; how many times can you be slapped in the face??? The money to retool hopefully will be well spent; but to bail them out for future healthcare for their pensioners is abomnible!!! Why should all of America pay for their healthcare when many of us do not have nor will ever have healthcare much less a pension for life?? Let them use their pensions to pay for their own healthcare!!! Without total restriction ON MORE MONEY, LET THEM ROT!!!!

Did anybody ever see those worthless cars the East Germans were driving after the commies finally gave up their experiment there? Is that what we all want to drive? The US government won't be able to run our auto industry (or our banks for that matter) any better than the Politburo did. PLEASE don't waste our tax money on this idiocy. Big 3 management and the UAW made their bed together. Now they can lie in it

Get real. If these companies were not so out of touch they would not be going out of business. The American people have been speaking (maybe not verbally) to these "Great" companies. We are buying better made, cheaper, more fuel efficient foreign cars. I LOVE my VW Jetta. No matter what I won't go back to an American car as long as the employees (including all levels) are so over paid (Too much Union involvement). If a retailer only sells overpriced, poorly designed clothing what happens? They go out of business. I am tired of "Poor Detroit". When they were raking in the bucks and we were getting the shaft, I bet they were laughing. I say NOT with my tax dollars.

The big three sold their souls for short-term gain. Let them reap what they sowed. NO TAX PAYER BAILOUT!People-especially those in the car industry-in rust belt states need to start packing and head South or West to look for new lives. At least it will be warmer.

Let the bums go broke.

What you mean is the overpaid American Car workers need our help. The American people have been speaking about this for years (maybe not verbally). We have switched to better made, cheaper, more fuel efficient foreign cars. These businesses are failing because they are years behind the times and have refused to listen to the consumer.

Please remember these would be loans, not gifts. we're also talking about over 1 milion jobs. these people pay income taxes, property taxes,etc. Put restrictions on the loans, but please save the jobs. Despite what we may think of the uaw, we can't afford to pay their healthcare & unemployment benefits. Make the uaw & the auto industry do what's necessary to save our economy.

As the car industry goes, so goes America. There are bond and stock holders who believed in American workers and the auto industry. I say Congress should deliver to the car companies loans that are supportive and require manufacturing of cars that are marketable. Perhaps new leaders are required. But leaders in those companies need to be held accountable to the American public as well. They need to produce what the market demands.
Richmond, Tx.

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There is NOTHING efficient about Chapter 11. The lawyers, accouontants and investment bankers routinely suck 40% or more of net realizable value off the top. And take their time doing it.

Neo.. I feel if the mone is given directly to companies,ther best interest would come first. Although I agree it wauld require another layer og government, I see it a a lesser of 2 evils

Don't give them anymore money. They don't deserve a bailout. Let them go and other auto manufacturers will replace them. They are not held accountable for all of the billions American's have pouring into the auto industry and it would just be throwing good money after bad. DON'T GIVE THEM ANYMORE MONEY!

The consumer has driven this economy for years, pulling it through downturn after downturn, defying the doom and gloom that sells in the media. I agree we can not allow the downfall of companies that result in further economic chaos. Vouchers, direct incentives or how ever we could get the money directly into the hands of those that drive this economic juggernaut is the way to go. They will be the deciding factor...Use the money for...purchases, investments, savings, retirement etal.. Let the consumer raise the tide that wiil lift all the boats. Our collective judgement has worked pretty well as compared to the economic and academic elitist

The automobile industry has created many jobs around our country. IF.....the government decides to give the manufacturers a $25 billion loan, the government should install overseeers. These big severence packages should be terminated immediately. Continuing the CEO's management as it is ( with no oversight ) is just asking for continuation of the same.

If we as taxpayers are being asked to pay $25 billion dollars, why should it go to prop up the failed companies? What guarantee do we have they still won't implode 6 months, a year, two years from now? What is the common assumption about giving in to blackmail - once you start paying there's no way to stop?

There is no point in propping them up, and no point in allowing them to re-structure via a chapter 13 bankruptcy - if they could have restructured by now, they would have. They have proven themselves incapable of making the hard choices - more money won't suddenly get them to see the light.

Let's give the 25 billion to the state of Michigan instead, to pay for unemployment, worker re-training, housing assistance, etc. Allow the automakers to go into Chapter 7 bankruptcy, rather than 11, and let the proceeds go towards pension/health funds and if there is anything left over, the stockholders.

Any assets deemed salvagable will be purchased by some enterprising group of intrepid investors - let them rebuild a leaner auto industry, if that's possible.

The losses are inevitable, but at least this way everybody gets something, instead of most getting nothing. Postponing the pain by bailing them out will just be throwing good money after bad, and make the inevitable demise that much more painful. To just hand over money to three companies that clearly have run themselves into the ground is absurd.

Unfortunately, I fear you are correct. This is certainly rewarding failure on a multitude of levels. It seems we have been talking about this for 40 years now and still the US auto companies can???t seem to listen and understand what their customers either need or want. I mean, building and marketing Hummers when gas is over $3 per gallon, it doesn???t take a genius to know that won???t work. The unions too have been greedy in saddling these companies with overleveraged salaries and work rules that make them uncompetitive on a global scale. Everything we learned about mass production seems to have been forgotten by these guys and now they want to go on welfare so they can go right back to building and inferior, overpriced product that people don???t want with all of our help. How about instead of giving them money, give J.Q. Public carbuyer a $2,500 tax reduction if he buys a US car. That will make these products more attractive and reward the guy or gal who is footing the bill.