Thread: The Auto Bailout

I'd do it for a couple hundred grand. It'd be a headache, but I think I could deal with that headache for a couple years. No one said it would be a life appointment.

My first act as car czar would be for GM to explain to me just what the hell they were thinking when they built certain models of vehicles...and test a Camaro

Vote for me! vote for me! I'd charge a few hundred grand, the high life for a year and then resign with "sorry, I tried and failed". ...but I'd buy you ALL fine razors, shaptons and the very best silver tipped brushes!

The idea of bailing out the auto companies is somewhat repugnant. Like the financial bailout it may be a case of what is best for the economy as a whole. If action of this sort will prevent the great depression circa 2009 then it is better then the alternative. I heard the same hue and cry during the savings and loan fiasco and the Chrysler bailout years ago. The government eventually made a profit on those loans and maybe they will on these.

IMO the auto companies made the cars that people wanted to buy. I see a lot of old American cars still putting along after twenty years. I can't say the same for the foreign stuff. I know after seven years of trouble free service I am happy with my Ford. (knocking on wood)

I read an article in the NY Times here critical of the US auto companies yesterday. While I don't agree with the conclusions as I stated above but his statistics are interesting and put into perspective the cost of labor in the price of automobiles between the big three and other manufacturers.

The funny thing I see is a North/South thing taking place, I've yet to see any Southern representative say they are for it. I guess they figure they are immune to the consequences.

Here's the truth the US basically manufactures very little anymore, they sold out all of the traditional manufacturing over the last 40 years. The only large manufacturing industries left automotive, defense and an aerospace industry that is a shadow of what it was in it's hay day.

So hey let it fail, then you can buy everything from overseas manufactures. Just for the record I wouldn't expect the transplants to stay in the US if it looses the domestic production, they too will go to cheaper labour markets.

The thing that really took the cakes for me was listening to some big ignorant senator during the hearings say " he had a problem using tax payers money to pay salaries and benefits to workers that have better salaries and benefits than most". He doesn't have a problem taking taxpayers money to fund his salaries and benefits that are better than most.

Got to love this race to the bottom.

Originally Posted by Hutch

The thing that really took the cakes for me was listening to some big ignorant senator during the hearings say " he had a problem using tax payers money to pay salaries and benefits to workers that have better salaries and benefits than most". He doesn't have a problem taking taxpayers money to fund his salaries and benefits that are better than most.

Another case of someone waxing idealistic in an effort to strengthen the support of their constituents. Hardly a new tactic!

I'd like too see the Uk government turn around to the banks and say "We bailed you out, you were supposed to have helped people out by lowering the mortgage interest rate, you didn't pass the cut on, so FU!!, the borrowers now own their homes, give them their deeds(title) pronto!"
I'd have £700to £800 a month extra to spend on UK made goods, end of slump
BTW I know nothing of economics! What would be the resulting carnage?
M

I just heard the second bailout proposal got shot down in the senate.
Who knows. Maybe they will close the money fountain after all?

Originally Posted by Bruno

I just heard the second bailout proposal got shot down in the senate.
Who knows. Maybe they will close the money fountain after all?

Now the bills' supporters want to ask the President to use some of the unused but already approved bank bailout $ to bailout the auto industry. we shall see