President Bush says no to bailout for U.S. auto companies

[gdcleanfun]

Originally Posted by gpbarth

I'm not as dense as I look.

Gary, I didn't say that, I didn't imply that, I was just clarifying your first post where you said bail out and it's not, it's a loan. You seemed like a smart fellow, that's why I said what I said. Sorry if you took it any other way. As for the rest of your post, well, we all have our own opinions. C'est la vie.

[Glock Fan]

The Wall Street "bail out" was a mistake. If we "bail out" or "loan" money to the auto makers, that would be an even bigger mistake. This would open the door to all kinds of industries asking for "handouts". Businesses should be able to stand on their own. We don't want to end up like China where the government owns the businesses and they call the shots.

What I don't understand is why haven't the auto makers negotiated a "merger" of some sort. This would cut down on their overhead costs, they'll be able to combine their resources and come up with a better product. Many Americans are buying foreign made cars because they want a better product for a more affordable price. These auto makers could even create a seperate entity, a "super auto manufacturer" where they could all pool their resources. Problem is I think that it's probably "greed" that drives these folks and that's why they're in the position they're in today.

JMHO



gf

[wolfhunter]

Part of the Wall St. bail out went to American Express, so we bought several lunches and dinners for folks who abuse their credit cards, and then don't pay their bills.

[toreskha]

The domestic auto industry has for years pissed away money on the unions and formed their companies into abject failures, while the Europeans and Asian carmakers took over American market share and jobs. Now they want taxpayer dollars to pay for their ineptitude. General Motors, Ford and Chrysler are pathetic and deserve to tank. We don't owe them a dime. If foreign carmakers have a better business model, then they deserve to survive while Detroit can die.

It's even more disgusting when they try to plead the "but everything will go bad" line. They're trying to hold us hostage with fear, uncertainty and doubt over our economic future. Screw them.

[tattedupboy]

Let's not play the semantics game here. Whether you consider it a bailout or a loan, it' a bad idea to give these businesses money to keep doing the same things they were doing that got them into this mess.

P.S. If nothing else comes out of this, I hope that this whole process exposes the unions for the bloodsucking leeches that they are.

[Glockster20]

Originally Posted by tattedupboy

Let's not play the semantics game here. Whether you consider it a bailout or a loan, it' a bad idea to give these businesses money to keep doing the same things they were doing that got them into this mess.

P.S. If nothing else comes out of this, I hope that this whole process exposes the unions for the bloodsucking leeches that they are.

UAW is a big part of the problem with the American auto industry.... by the way, it's probably ran by the mob. Did you see on the news that the government called out the CEO's about their travel arrangments?? Not one of them flew commercially... private jets, all!! And they come asking for a handout???

Originally Posted by Glockster20

UAW is a big part of the problem with the American auto industry.... by the way, it's probably ran by the mob. Did you see on the news that the government called out the CEO's about their travel arrangments?? Not one of them flew commercially... private jets, all!! And they come asking for a handout???

And that's another part of the problem - these CEOs feel that it is their right to live like kings because they are the "boss." Look at AIG, still throwing lavish parties, and not even bothering to deny it. "This is the way we do business," they say. "We do these things to sell our business, so it's not really 'lavish parties' but a business dealing."

Yeah, well, if your business is tanking, you cut costs, not spend more money. AIG should be put on public display and not get one single penny MORE of this bail-out. And I am STILL shouting - CHAPTER 11 for the Big 3! Lick your wounds, lean out, and come back with a better business plan. OH, I'm sorry, I forgot...that's not part of being a multi-millionaire.

[jwtollett21]

whats sad is mccain and obama voted for the bailout and bush signed it in. Do we have any hope anymore?

[tattedupboy]

Originally Posted by gpbarth

And that's another part of the problem - these CEOs feel that it is their right to live like kings because they are the "boss." Look at AIG, still throwing lavish parties, and not even bothering to deny it. "This is the way we do business," they say. "We do these things to sell our business, so it's not really 'lavish parties' but a business dealing."

Yeah, well, if your business is tanking, you cut costs, not spend more money. AIG should be put on public display and not get one single penny MORE of this bail-out. And I am STILL shouting - CHAPTER 11 for the Big 3! Lick your wounds, lean out, and come back with a better business plan. OH, I'm sorry, I forgot...that's not part of being a multi-millionaire.

Not only that, but they should do away with the unions.