11-11-08, 01:05
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#25 (permalink)
| | U Bring It - I Bling It
David Fermani is offline
Join Date: Aug 2004 Location: S. Florida Posts: 3,864 | Re: Should the government bail-out include domestic automakers?
Quote:
Originally Posted by MotorCity  Regardless if you feel that they should receive some of the money on a moral basis the facts are that if they go under the ripple effects will devastate this country | You're right about that Jason. Imagine how much worse things could get for not only Michigan, but the entire country. I think the only ones to gain from it would be the non-Big 3 American car companies.
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11-11-08, 01:14
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#26 (permalink)
| | Banned for Bringing Shame to Autopia
Holden_C04 is offline
Join Date: Sep 2007 Location: Toronto, Ontario Posts: 1,685 | Re: Should the government bail-out include domestic automakers?
The Honda Ridgeline doesn't compare and it's never going to compete with the domestic trucks. It's a light truck and FWD and built on a car chassis IIRC. The real comparison (and one which domestics almost always lose) is against the Toyota Tundra. It's quicker than my Bimmer 0-60! | |
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11-11-08, 01:17
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#27 (permalink)
| | Registered User
yakky is offline
Join Date: Aug 2006 Location: NoVA Posts: 791 | Re: Should the government bail-out include domestic automakers?
I'm for a bailout if they agree to meeting some very stringent CAFE standards. Everytime the standards are raised, they piss and moan how they can't possibly meet that mileage requirement. Because they couldn't they are in the current predicament. I'm also in favor of reviewing management pay structure for any company under government bailout. If your company is tanking, you aren't worth millions. | |
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11-11-08, 03:24
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#28 (permalink)
| | Autopia Fire/Rescue/EMS
DaGonz is offline
Join Date: Jul 2001 Location: Marlborough, Massachusetts Posts: 1,867 | Re: Should the government bail-out include domestic automakers?
They shoulg get a bailout... if the big 3 go down, it woin't be a ripple effect, it will be a nuke going off in every community in America.
The fat cats who run the companies should bite the bullet and take a salary no more than the average worker. Someone who makes $16.5 million a year can afford it... when Lee Iacocca went to the feds for loan to save Chrysler in the mid 70's he took a salary of $1 a year.
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The Stable... 2007 Ford Edge SEL AWD, 2006 Ford Mustang GT, 2001 Jeep Grand Cherokee | |
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11-11-08, 03:51
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#29 (permalink)
| | Late bloomer
Bunky is offline
Join Date: Apr 2007 Location: Raleigh, NC Posts: 730 | Re: Should the government bail-out include domestic automakers?
I saw a statistic that 1 in 10 jobs in the US is related to the auto industry. I would like to exec pay reduced and retired union workers have to give their "no cost" health care benefits. All the salaried workers are losing their no cost benefits.
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Al
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11-12-08, 01:45
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#30 (permalink)
| | Registered User
BAKER is offline
Join Date: Aug 2002 Location: nova scotia canada Posts: 262 | Re: Should the government bail-out include domestic automakers?
There was another thread on here recently, when one of our American friends jokingly talked about Canada being socialist, re. our medical system paid for by taxes. When does it take away from the capitalist, free market system when the govt. bails out companies in trouble. It almost becomes the govt. running the business? On the other hand, as mentioned in other responses here, it is a huge part of the American economy. In the real world today, the government should be there for the good of the people, and compromises in the system may be necessary. | |
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11-12-08, 03:31
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#31 (permalink)
| | Deep Gloss Auto Salon
MotorCity is offline
Join Date: Jun 2007 Location: Michigan Posts: 1,223 | Re: Should the government bail-out include domestic automakers?
Quote:
Originally Posted by David Fermani You're right about that Jason. Imagine how much worse things could get for not only Michigan, but the entire country. I think the only ones to gain from it would be the non-Big 3 American car companies. | Yep, estimates are the the big 3 generate Approx 10 MILLION jobs (OEM, Dealers, Suppliers, Logistics, Service Industry that supports workers, etc) creating $330 BILLION in annual income that alone is STAGERRING, then you also need to factor in the taxes that each plant contributes to the city/town in which it operates... Quote:
Originally Posted by DaGonz
The fat cats who run the companies should bite the bullet and take a salary no more than the average worker. Someone who makes $16.5 million a year can afford it...
| Agreed Quote:
Originally Posted by DaGonz when Lee Iacocca went to the feds for loan to save Chrysler in the mid 70's he took a salary of $1 a year. | Ha ha, Lee was no fool... Dont be fooled, He did VERY well that year after stock options/bonus'.... The $1 pay was all smoke and mirrors
Last edited by MotorCity : 11-13-08 at 11:24.
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11-12-08, 04:10
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#32 (permalink)
| | Registered User
Picus is offline
Join Date: Aug 2005 Location: Toronto, ON Posts: 3,505 | Re: Should the government bail-out include domestic automakers?
Funny, when we had the same thread on bailing out lenders it was like 90% no, 10% yes.
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11-12-08, 04:12
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#33 (permalink)
| | Registered User
taki0187 is offline
Join Date: Sep 2007 Posts: 23 | Re: Should the government bail-out include domestic automakers?
Someone correct me if I'm wrong but if the government bails out GM where does the government get the money? taxpayers, you and me? Same thing with Fannie and Fredie Mac the taxpayers are going to foot the bill for the greedy CEO's lending money out to people who couldn't afford it. | |
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11-12-08, 04:14
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#34 (permalink)
| | Deep Gloss Auto Salon
MotorCity is offline
Join Date: Jun 2007 Location: Michigan Posts: 1,223 | Re: Should the government bail-out include domestic automakers?
Quote:
Originally Posted by taki0187 Someone correct me if I'm wrong but if the government bails out GM where does the government get the money? taxpayers, you and me? Same thing with Fannie and Fredie Mac the taxpayers are going to foot the bill for the greedy CEO's lending money out to people who couldn't afford it. | The current proposal is to provide $75B to the Big 3, estimates are that if JUST ONE of the big three dissapear it will cost us * $175B in just the first year..... * Based on a report on NPR
Last edited by MotorCity : 11-12-08 at 08:09.
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11-12-08, 06:43
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#35 (permalink)
| | Time's a-wastin',speedy!
TortoiseAWD is offline
Join Date: Jun 2001 Location: Omaha, NE Posts: 3,397 | Re: Should the government bail-out include domestic automakers?
Rewarding industry for failure yet again. Hooray?
Tort
(shakes head in disgust)
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11-12-08, 07:17
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#36 (permalink)
| | Registered User
Yal is offline
Join Date: Sep 2006 Location: NY, Long Island Posts: 803 | Re: Should the government bail-out include domestic automakers?
Quote:
Originally Posted by TortoiseAWD Rewarding industry for failure yet again. Hooray?
Tort
(shakes head in disgust) |
I agree its just ridiculous. I'd rather go through the 5-10 year pain of all that unemployment and money loss than give them a dime. These companies were/are run by the same people that were there when oil went scarce in the 70's but less than two decades later they did the same thing all over again and their only pathetic excuse is they just built what Americans wanted 
If they go down I truly believe that out of the ashes of the devastation would come a better America. Let it happen. | |
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