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GM and bail out
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GM and bail out 11/17/2008 3:35 PM EST Do you think GM should be bailed out? What about airlines that go under?
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Re: GM and bail out 11/17/2008 3:42 PM EST { In reply to Charlie } No. Bailing out a company that wouldn't give a loan to three quarters of the people they're taking money from. Kinda like the bank thing.
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Re: GM and bail out 11/17/2008 4:22 PM EST { In reply to Charlie } My problem with the bailouts is the whole rewarding bad behavior. The auto industry in this country is not dead. Look at the foreign auto makers building and producing in this country. They're doing fine. I say let the markets play out. If a company fails, so be it. If I had financial problems, pretty sure that the government isn't going to bail me out.
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Re: GM and bail out 11/17/2008 5:25 PM EST { In reply to Charlie } I say no also, a business that isn't producing is no business at all. It doesn't make any sense. GM just got 25 billion in Sept. now they need a little bit more. I heard on the news today that Toyota pays their workers an average of $45/hour and GM pays their employees an average $75/hour meanwhile they average worker (taxpayer) makes $28/hour. While I don't want them to fail obviously a lot of people are going to be out of job I don't think its fair to put the burden on us.
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Re: Re: GM and bail out 11/17/2008 5:31 PM EST { In reply to 38graham97 } I have to agree with 38graham97. The problem I have with a bail out is that, the company gets the money but it doesn't learn how to manage the money. After the bank bail out we find out that the executives are have outrageous spa weekends and making these huge salaries. They were not doing their job because if they were they would not have needed a bail out. I have a feeling the cars companies have executives that are doing the same thing.
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Re: GM and bail out 11/18/2008 8:51 AM EST { In reply to Charlie } While I don't like the bank bail-out I do understand that something had to be done. I'm not a financial expert so I'm not sure if this was the right thing or not. But as soon as the government started handing out money, everyone has their hand out. It's kind of like when someone wins the lottery and suddenly they have friends and family they never knew existed. I don't understand why we should bail out the big companies that have squandered their profits. Reward them for getting ridiculous salaries and endless perks. But the mom and pop store down the street has to close because their hard work and dedication for 30 years just isn't enough to pay the bills.
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Re: GM and bail out 11/18/2008 2:19 PM EST { In reply to Charlie } Um. Tough question. Should we bail out the big three auto makers - that is the 25billion figure, not just GM - or not? GM, plus the dealerships and parts manufacturers, employ 1.6 million people. If GM goes under, they are added to the unemployment rolls, which we pay for. We have no chance to recover the money paid for unemployment. OR We bail out the big three - $25 billion, which is only a LOAN, not a give away. This $ carries the automakers over through 2010, and that is when the auto maker unions pick up the tab for the retirement accounts. The expenditures drop tremendously for all threee companies. This was all previously negotiated with the unions by the way. And, since this is only a loan, we have the possibility of getting paid back. Just like Lee Iaccoca did for Chrysler. Do I want my tax money to be used like this? Not really. But I dislike the alternative a lot more.
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Re: Re: GM and bail out 11/20/2008 8:31 AM EST { In reply to Cpt_Chaos } I totally agree with Chaos. On CNN the other day they said the average worker for GM makes $80k a year. I don't make half that. Can the government give me a handout too, please? Granted, workers in the auto industry have unions and what have you, and they also mentioned on CNN that the unions won't budge on how much they deserve to be paid, which I think is BULL. 
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Re: Re: Re: GM and bail out11/20/2008 9:01 AM EST { In reply to kmartini } I was watching the news last night and it showed one of the CEO's of the auto industry (who was going to D.C. for a hand-out) show up at the airport in a private jet!!!! They estimated that the round trip cost $20,000. They also said that he received AN EIGHT FIGURE BONUS last year. Who deserves a 10 million dollar bonus??? And that was on top of his ridiculous salary. Before the government uses our money to bail them out they should send someone in to cut the fat. I'm sure they could reduce the $25 billion figure down to much much less.
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Re: Re: Re: Re: GM and bail out 11/20/2008 9:12 AM EST { In reply to mom-of-3 } It wasn't one, it was all three of them. They all took their own, seperate private jets to ask for money.
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Re: GM and bail out 12/19/2008 9:32 AM EST { In reply to Charlie } So Bush has decided to give them a little bit more money just a little bit. Congress couldn't pass a bill thanks to senate republicans and a handful of democrats. Don't worry though Bush to the rescue. 
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