They should. That is going to be the only way that the Big 3 can get out from under the legacy costs. $73 per hour is that cost fo a Big 3 employee as opposed to $45 for foreign makers in the US. Fuck the unions. They drove this mess since the late 70's.
I'm really on the fence about this one... On one side, the unions screwed up big time over the years and the big 3 should go down for not fixing this mess earlier on. On the other side, this is millions of jobs we're talking about here and a very large industry. If it fails now of all times, I'm quite worried about the outcome on our economy and the impacts it'll have around the globe...
It will hurt but it won't collapse our economy. Not to mention, the foreign companies will most likely replace a lot of the manufacturing/supplier jobs in due time. I just don't understand what bailing them out will accomplish. They will still have the unions and the same crappy business model as before. A bailout won't help them make products that people like, and it won't make people want to buy gas guzzlers any more than they do now.
Let them die, they've been making crap for far to long.
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While there will be an initial hit of a tremendous amount of lost jobs, there is no way that kind of manufacturing infrastructure is going to just sit and collect dust.
There will be other manufacturers, not just cars, that will snatch up the assets for pennies on the dollar and turn around and hire a whole lot of those people back.
They make not be making $100K plus a year to bolt tires onto a car but they will be hired back with some sort of job.
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I think the Big 3 would like everyone to believe that their bankruptcy would crash the economy but it wont. I think most investors see the writing on the wall and believe they will go under which is reflected in their current stock prices.
They need Chapter 11 to reorganize and stave off some of their creditors. Giving him any money know is foolish as its clear the automakers cant be trusted with any money, let alone taxpayer money that could be put towards better investments.
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My whole problem with the bailout is this......Giving them $50 or $50 million, they are going to misspend it, which got them in this situation to begin with. Just like giving the banks money, then they pay out these big ass bonuses. WTF!
School levies too........I don't support them because the schools get enough money, they just completely misspend most of it.
Guys, it's simple. They've been losing money all along, and they will continue to lose money.
People are turning frugal, don't want to take on New Car debt when their current works fine.
Banks are turning stingy, not lending unless you're a fucking credit superstar.
So how the hell can the Big Three expect people to buy their cars? Even Toyota has to cut production now. If we give them this money, they will simply burn through it in yet another stupid attempt to sustain an unsustainable business. Then they'll go bankrupt anyway, but they'll take our billions with them. Smart.
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It will hurt but it won't collapse our economy. Not to mention, the foreign companies will most likely replace a lot of the manufacturing/supplier jobs in due time. I just don't understand what bailing them out will accomplish. They will still have the unions and the same crappy business model as before. A bailout won't help them make products that people like, and it won't make people want to buy gas guzzlers any more than they do now.
Agreed. I feel this bailout will just prolong the inevitable. The car companies should close shop on some makes that are completely worthless. There are so many makes and models, no wonder why things are going down. They should just keep things simple, have a base brand, and then a luxury brand. That's it. Look at who owns what:
Chrysler - Chrysler, Dodge, ENVI, Jeep, Global Electric Motorcars (GEMCAR), Mopar
Ford - Ford, Lincoln, Mercury, Mazda, Volvo
There is no reason why GM should have 12 different makes of cars. They are just saturating the market. I would close down at a min, Daewoo, Hummer, Saturn, and Vauxhall.
Originally Posted by dsuave624[Only Registered Users Can See LinksClick Here To Register]
Agreed. I feel this bailout will just prolong the inevitable. The car companies should close shop on some makes that are completely worthless. There are so many makes and models, no wonder why things are going down. They should just keep things simple, have a base brand, and then a luxury brand. That's it. Look at who owns what:
Chrysler - Chrysler, Dodge, ENVI, Jeep, Global Electric Motorcars (GEMCAR), Mopar
Ford - Ford, Lincoln, Mercury, Mazda, Volvo
There is no reason why GM should have 12 different makes of cars. They are just saturating the market. I would close down at a min, Daewoo, Hummer, Saturn, and Vauxhall.
In the US -
GM: Chevrolet, Saturn, and Cadillac
Chrylser: Dodge, Jeep, GEMCAR
Ford: Ford, Lincoln
Saab should go back to Europe.
Mazda and Volvo should be sold off.
GM: Chevrolet, Saturn, and Cadillac
Chrylser: Dodge, Jeep, GEMCAR
Ford: Ford, Lincoln
Saab should go back to Europe.
Mazda and Volvo should be sold off.
In Brazil -
GM: Chevrolet
Ford: Ford
Guess why they are reaping profits (specially GM) in Brazil? The Brazilian arm of GM has had to come out publicly that they are completely autonomous from the American company and that they are very profitable and would not change a thing if GM USA were to file for bankruptcy.
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