I think bankruptcy would be a positive result...allowing the car manufacturers to renegotiate the union wages so they can be competitive with the foreign automakers. But I disagree with everyone expecting to get in on the original bank bailout, in the end it is hurting our economy more and more
GM said it was going to go out of business by the first of next year, but they can all travel to Florida for a fancy meeting. To be honest I am not a big fan of GM vehicles. I think if GM, Ford, and Chrysler would have built better quality cars in the 80's & 90's people wouldn't have bought Toyotas, Nissans, and Hondas! 90's Maxipads and altimas are still running strong! Even with over 200+K miles on them. I had a 93 Pontiac Grand Prix, lasted long, but I was replacing parts every week! I went through at least 3 alternators and 4 batterys and I only owned it for a couple of years! I don't think they need to go out of business, and I do feel for the people's jobs it affect.
That is just my $0.02, you can call me mean & un-Christian like if you want to, but I don't like many American Cars!
I say let them bankrupt, see their plan of bankruptcy and government loans will help the restructuring. Heck, $25B would even last the a quarter or 2 at this rate.
unions were a must in the early days as an advocate for worker rights, but now they are just plain ridiculous
qft.
There's a few union guys who come around to my jobs and try to get me and my co-workers in. I feel bad that people actually believe that 'snake oil' they sell.
how is 25 Billion going to save companies that make 200+ billion each year?
dont bail those bastards, let them restructure. failures is what the 3 companies are, and so are the so called world class vehicles they have
Except that if you let them fail, we'll have Japan mobilizing our military.
I wouldn't necessarily call them bastards. Domestic automakers have survived through economic recessions previously which means that their business strategies were well planned and thought out. Part of the reason they are failing now is because they simply don't have a chance to compete with foreigner companies. There is just too much of an imbalance between domestic and foreign competition, which government should have been watching out for but it had its head up its ass for the past 8 years. We don't need a bailout. We need to increase taxes on foreign auto goods, and let domestic automakers to temporarily cut down staff, pay & benefits until they recover.
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