automakers, to bail or not

When the auto industry gets rid of the job bank, with the benefits and wages averaging $70 per hour,compared to $45 at foreign owned auto plants and does a total restructuring then maybe. The unions ask too much. If the big three go under it will affect the whole economy not just the auto industry. I don't know what should be done. I do think the CEOs are very scared because they are willing to take a pay cut down to just $1.00. What we need is a Lee Iacocca. he turned the Chrysler Corporation around in the 70s and 8p0s. He did get a government guaranteed loan but it was paid back 7 years early. Why don't we have people of vision like him?

I don't think they should receive a bail out. As a responsible company, they should have seen their current problems coming and should have made corrections a long time ago. Businesses come and go. Some survive and some don't. I think the car companies should take a serious look at their executives that are running the store. Obviously, there are some big problems. Money is not going to solve the problems. Management is the problem and that is what needs to be dealt with. That is my opinion on the matter.

Oh Pat you had to ask this... I am totally opposed to this bail out! I feel badly for the people but not the business. The practices these businesses honor are shameful! The labor unions were such a good thing when they were first organized and now greed has steered them to this shameful practice. I say let them figure out how to fix the mess they have created. Let the mortgage companies and all the other greedy fools kick in to save the working people. Mortgage companies could suspend their loans temporarily, every ceo take a 1/2% pay cut and put that into the kitty to help these people. There is some wealthy group out there who will step in and buy enough stock to keep them going I am sure.

At first I agreed with the idea that it is better to bail out the automakers than to let 3 million jobs and then some go away and perhaps leading to the ultimate demise of our economy. Now I say, let it. Let the economy collapse. Things need to get worse before they can get better. Maybe people will adjust their habits and come to certain realizations. But you can really only do this when times are bad, not when they are good.