In Defense of Detroit

no really what they should do is fold up go broke we shouldnt even give 2 craps if they do nobody cares if we loose our homes or cars or our buiss why should we give a crap let the uaw suck some brown crap for once
remember the teamsters nobody even cares who they represent anymore we cant compete in the global market with the unions so hit the road

1. Obama will save them all at a terrible cost to non-union workers called taxpayers
2. Buy-out (not bail-out) the unions; their time has passed (anyone afraid of work-place accidents anymore?)
3. Sooner or later, it's time to pay the piper
4. Who can afford these automobiles they make?
5. Screw those states for not seeing this coming...I did 10 years ago...so did a lot of people, but no one listened

There is still no logical reason in this article to bail out GM.

3% hike in unemployment? That's a "doomsday" scenario first of all. And even if it were true, we get a 3% unemployment fluctuation or more every business cycle. Should we bail out every business that fails every business cycle?

The fact is, people still need cars. If GM drops out of the market, someone else will fill the void and begin buying from American suppliers.

Think about the economic incentives we're putting in place here. If we bail out GM, what's to stop other manufacturing companies from merging and consolidating so that they can become "too big to fail", and thus never be held accountable for bad decisions.

If I'm a medium-sized business that the government would not bail out, and I see my taxes go to bail out GM, I'm going to merge with a bunch of other companies FAST, then, together, we'll make stupid, shortsighted decisions (like over-investing in SUV's), and hopefully we'll have enough employees and lobbyists in Washington that we'll get a bailout too!

GM is not entitled to taxpayers' money. GM is a private company accountable to its shareholders.

For decades the Big Auto manufacturers have been in bed with Big Oil....ignoring the necessity for non-fossil fuels. Hydrogen fuel cell engines and hybrids with electric power would have solved our dependence on gas many years ago. Unfortunately greed and outright larceny has prevented this from happening. Every time a patent was approved for a more efficient carborator, engine, or fuel savings, it was purchased by either Big Oil or Big Auto and prevented from reaching the market. Our government has been very much aware of this behavior and done nothing.

Let the Auto Manufacturers go bankrupt. They don't deserve a nickle more from the taxpayers. Force the CEOs and the wealthy large-block stock holders to give back the millions of dollars they have stolen from us.

Writing TV commercials for major carmakers several years ago, I got to work closely with executives and engineers in Detroit. By their own admission, this is a textbook case of smug and complacent individuals who have turned a blind eye to public safety and the environment, and who have lived life for the past 50 years assuming that the rest of America owes them a living. If there were some way to burn this industry to the ground and start again from scratch, that would be my choice. But as long as we are in this fix, and since they've turned us all into hapless victims of their own complacent greed, why can't Congress make a deliberate effort to pattern this "new" American automobile industry after the good-thinking carmakers in the rest of the world?

The Big 3 have had ongoing problems with labor costs, retirement benefits, and poor quality cars for decades. Its about time they falter and crumble. Maybe when they recover after bankruptcy management and labor will modernize their practices so they produce a competitive, dependable product. So long have days gone when you can make $60,000 plus with barely a high school education. Like anything else, evolve or become extinct.

ANY business that wants a bailout (the auto makers, American Express, banks, etc.) should have all high level executives and members of the board of directors required to do 3 things: 1) immediately offer their resignations, 2) sign binding agreements not to work in the industry for a period of 5 years, 3) return all compensation (salary, bonuses, and benefits in excess of those provided for the "regular" employees) received in the lesser of the last 18 months or the term of their employment.

At least that would eliminate the incompetence that drove these businesses to need a bailout and obviate the possibility of managers' simply taking their bad decisions to the next "victim."

I wonder how many bailout requests the government would receive if those were the rules.

and to the idiot who wrote this article i grew up across from 15 stores that walmart put out of buissness did anyone help them no did anyone care how many jobs are lost daily because of that??? we are a global economy now nobody cares why do you think everyone comes here for jobs they come here for section 8 housing and food stamps if we didnt have that gm wouldnt have labor problems hell everyother industry is using imigrant labor they might as well then my piece of crap suburban would only cost 20 grand then i wouldnt care if it fell apart in 3 years like big3 pos do

I fully support "myvoice63's" comments. In fact, I don't need to restate what s/he has already written. I am in general in favor of labor unions, as long as very comprehensive oversight of them is enforced. But the unions that work "for" the auto industry are dirty and crooked through and through. You don't have to go far to find heinous stories of the way the union members have sandbagged management. They have literally stolen millions out of the coffers of the industry, and they should be held accountable. I say that the big 3 should go into reorganization under Ch 11. They could still operate and their people could be paid a fair, living wage. An incentive program that promotes rapid development of green cars needs to be put into place asap.
Although your average auto worker is highly skilled in a workplace that requires a good deal of skill, most of them do not hold college degrees. If they want to earn executive salaries, they should be required to attend school and train to be one. We have been way too soft on them. I happen to be a very liberal democrat who voted for Obama, by the way. But toxic mold and cancers are the same, no matter where they are found. Get some Chemo, Detroit!!!

they say by january gm stocks will be almost worthless so the senate wants to take ownership in that???
we havent even began to bailout bad mortgages and we have to bail out car companies you dont see the chicken shiet uaw reps at other plants cause they get laughed off the competition produces better product better r and d and we have to bail out the fat slobs off the industry cmon obama did you need the uaw vote im not sharing my wealth with them

I'm sorry but I am done with the bailout for any company and now just read that 3 major cities wanted part of it. I am for the american people getting all of the bailout money. We would most certainly spend the money wisely and restart this economy. The bailout money going to these companies is being used for pensions and disgusting bonues for executives who couldn't get their companies solvent. Why should any of them get a bonus - 95% of americans not only are not getting bonuses but most are losing their jobs so the executives can keep their bonuses. I say no bailout to any more companies - Look at AIG - the money they got went for a huge corporate party costing millions while their company has gone broke and oh yes, they also get to keep their millions in bonus money - bonus money for WHAT!!!! to scam America!

its called competition, if i with 12 employees have to do it why cant they ill take a 1 billion bailout because i cant manage my buissness
and when we do bail these companies they still spend like crazy
the united states has the only welfare system in the world, (proven fact) and it just keeps getting bigger and bigger

The Big 3 Auto Makers should not get a cash bailout. It will not be used appropriately. They need to purge their current top management people, get rid of the unions, cut their production and factory in half and the governement assistance should go directly into assistance for the employees who will be laid-off. The auto makers will still make money on their auto parts for all the gazillion models out there in the market. The federal assistance should be in the same vein as unemployment money as well as education and training in another field and relocation assistance for employment in another state or city. That would make the most sense to me and tax payers money would be benefitting the employees directly without interferrance from the auto makers.

The big key here is GET RID OF THE UNIONS! No organization should have that much control over a business. That's NOT the American way. The unions literally waged a war on America's auto industry pitting employees against employers. If you refused to join the union, you would be outcasted and strong-armed into joining. That's not how a business should be run. The UAW and the Big 3 auto makers are the American equivalent of Shiite and Sunni fighting in the middle east. DISGRACEFUL!

If there is such an urgency, why isn't management making those 'tough' decisions. If I could see drastic steps being taken, to improve their plight, I may be more willing to go along with the bailout. As it now appears, the want the money, but what is being offered from their side of the table? nothing?

What utter and complete nonsense. They are undeserving but they deserve our help? What great logic!