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jyoti | Should the government bailout Auto Industry yes or no and why? |
Also the government didn't bailout banks do you think that was good or not and why |
 |
 
Chris C
|
I say no to the auto industry. Yes, it would create job loss, but the auto industry is not a vital part of the economy.
The auto makers are failing becuase of several reasons that are their own faults. Focusing all thier money on Gas guzzling vehicles when anyone and their dog could see the fuel prices were going up and consumers are cutting back on fuel consumption? Choosing to not contribute to their pension funds so now they are screwed in paying out benefits that they can't keep up on? Choosing to continue to make inferior products compared to the foreign competition? These are all just plan bad business decisions and tax payers shouldn't be held accountable for that.
The failures in the financial system are a result of equally consumer irresponsibility and some poor business decisions. If the financial system fails the economy is doomed...the auto industry wouldn't be a fatal blow.
And the money to help out places like AIG is to give them liquidity. They have good products, large amount of clients and assets. They aren't in a position where they are going bankrupt becuase of poor business all around. Companies like AIG, just need a short term cash infusion until they can sell off some assets. The auto industry is going under becuase they make crap products, no amount of money can convince people to by something that will last 5 years, when you can buy something for cheaper that will last 15.
Bailout for MAJOR financial institutions? Absolutley
Auto or any other industry? Probably not. |
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car253
 |
You should repost your question under corporations.
However, we should not bail out business when the management does a bad job of running them and makes bad decisions.
Unless the government is able to come in and hire some good management to turn the company around.
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Harry Reid
|
no, because it just means there are lots more in line for their handouts
let'em fail |
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Insurance Geek-ette
|
The reason why "the big three" are in trouble, is because they can't sell cars for enough to cover their employee expenses, especially pensions.
A "bailout" isn't going to change the nonworking business model, it's only going to postpone the collapse a bit.
You can't make $100 a week, and spend $200 a week, and have a "bailout" fix that. It's just like giving a drunk another bottle of booze. |
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Kelly
|
No. Absolutely not. They could have made better choices. Stop producing so many vehicles when people aren't buying or lower prices so people want to buy. It isn't our responsibility to bail out every failing industry in this country. What's next, the porn industry? |
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criskahta
|
NO
3 New GM Plants in Russia & China...
It's called OUTSOURCING...Bailout just means we would be helping pay for it.
That is all. |
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Me, myself and I
 |
Yes to save the jobs of the workers....If 500,000 workers lose their jobs, that will be 500,000 less people paying into social security. It will also mean 500,000 less buying goods and services. That means the people who provide those will lose their jobs and won't have money to get the things they want. I am sorry to say, it's one big wheel... |
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fff
 |
Yes - With the Big 3 U.S. Automakers circling the drain, here are 10 solutions to the current crisis and none of them involve sticking your head between your legs and kissing your rear goodbye.
http://fastandloud.com/how-to-save-the-us-automotive-industry-in-10-not-so-simple-steps/ |
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Gem
 |
Well, here is reality, the American "taxpayer" (the MAJORITY of all Americans do NOT pay taxes, other than social security) is going to pay no matter what.
If the Big 3 go bankrupt, here is what is going to happen.
Michigan will be finished and all of our welfare suckers and disability suckers and their health care will be the rest of America's problem.
Michigan's pension for government employees will quickly go defunct and the Federal government--and the taxpayer--will end up paying for it.
Hundreds of other companies will be plunged into bankruptcy and the few million manufacturing jobs left will more than likely be lost.
China, Russia or the Middle East will swoop in to buy the assets of the bankrupt companies, thus further insinuating themselves in our country. We are nearly foreign owned now, this is definitely NOT good for America.
Unlike banking, where the "asset" is paper and not many jobs are created shoving that paper around, manufacturing provides (not many) but a few jobs in this country. When the rest of those leave, we are doomed.
This current crisis is NOT the cause of "subprime" mortgages or even the banking industry. The real, undisclosed crisis is that 3-5 MILLION great paying jobs left our country and went to the third world.
Defaulting on mortgages was just the beginning and now the ripples on the pond our spreading faster than anyone can keep up with them.
I hate the car companies, and their overpaid worker's unions, as they were instrumental in destoying the American middle class.
But if we don't save them now, the outcome is about 1000 times worse than any of you can imagine.
And you will ALL pay, taxpayer or not.
Good luck to us. |
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ragzy02
 |
The auto industry execs are feeling the pinch of the economy, and they are having to trim back on their luxurious lifestyle so why would we bail them out? So the higher ups can resume their lifestyle of the rich and extravagant? It's their own fault for the trouble they are in. Let's face it, America is screwed. |
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don1862
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I am generally opposed to bailing out anyone, but not helping auto companies may lead to even more problems. I would reluctantly support it only if they get major wage and benefit reductions for the UAW, replace top managers and do away with bonuses and perks until all of the money is paid back, require the industry to greatly increase quality and fuel efficiency and forbid ant dividends or other cash payments to stockholders until the money is paid back and the industry is profitable again.
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Hope
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no they should suck it up just like all of us average folks 350 million Americans give each of us an equal share of a trillion dollars NOW that would help not throwing it at bankers and UAW execs.. that's something like 285 thousand each |
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Donner
|
Absolutely not. American auto makers have been churning out inferior products that other countries won't import for years. Their current problems are their own doing. |
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Tommy K
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Only if they can get our money back with interest. No, I will not take payment in the form of a Chevy Malibu. Look at GM's books on Yahoo Finance, they have been losing billions for the past few years...this is a losing company with a bad track record. Convince me that we will get our money back and I will change my mind. |
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mymonsters4
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The Auto Industry shouldnt need a bailout considering the amount of money they have made since the early 20s. Many manufacturers found ways of saving money by sending the work out of the country which in essence put American auto workers out of their jobs. Personally I think they have a lot of nerve asking for a bailout when they have helped to cause this recession. Do you know what one of the causes was for the Great Depression? Unequal distribution of wealth between the wealthy and the middle to lower income individuals, which is exactly what is happening right now. |
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M W
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I say yes, if and only if:
1) They fire every single Manager. Only exceptions would be anyone that can provide proof that they warned their upper managers
2) They start using 100% American parts.
3) They use 100% American labor.
4) I want financials available on the open internet for my reading enjoyment.
5) Give every American 1 share of stock.
I say yes (with strings and ropes attached) because we need middle class jobs. What people are not seeing here is that our auto industry is already being outsurced, part-by-part. I want those American factory workers working and I want them owning homes. |
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Jorge D
 |
No I don't believe U.S. auto companies should be bailed out of a problem that they made, they have made wrong product decisions, turned out inferior products, only shortsightedly looked at the short term and failing to modernize their plants to gain competitive advantage. They got too confortable, greedy and complaisant even when Japan was eating away their market share, no forward thinking just the here and now and how they can line up their own pockets with exorbitant salaries and golden parachutes and playing office politics rather than be good car makers.
If there is to be an auto industry bailout, the stipulation of such bailout packages should stipulate that things have to seriously change, the money needs to go to help these companies meet their operating costs and payroll, streamlining the way they do business, no perks and golden parachutes for the executives, they didn't earn it! Look into replacing top management and the boards of these companies. When Chrysler was bailed out back in the 80's with Lee Iacocca and Jerry Greenwald, they got professional people to bail out the company, the money which was tied to a 7 year loan was paid in 4 years, 3 years ahead of schedule and the Government made money on the bailout and management did not use the money for them to go on island retreats consumming tiki drinks, if a bailout is approved; no money to compensation other than what is basic, no bonuses, golden parachutes or executive retreats, whoever takes over needs to go to work and these companies and functionaries should not have their lives be their own til the company is bailed out and monies are paid back to the government. |
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