The agenda: Is the car bailout dead?

the Pajama Pundit — Fri, 14 Nov 2008 14:24:23 GMT

Bank bailout. Auto-maker bailout. Where is MY bailout?

Look, I'm no economist -- I'll have to take the word of those people who 'know' this stuff. But I will say that there should be oversight out the wazoo on this business. You don't give someone BILLIONS of dollars and not ask them what they are going to do with it. THEN watch them closely as the use the money.

That's the PEOPLE'S money jack. It's not a free gift from the government.

http://thepajamapundit.com/

The agenda: Is the car bailout dead?

SS — Fri, 14 Nov 2008 14:27:45 GMT

Car are to expensive 44-55,000.00 way to much. I would love to buy a nice car but who wants to pay that much for them. A person could add a new roof or make new additions to their home for that price.Whgy go into debit for a car that will deperciate once it is driven off the lot. $600.00 payment, gas, insurance way to much for the average person. They make them afforadable I will buy.

The agenda: Is the car bailout dead?

cindy, Las Vegas, Nv — Fri, 14 Nov 2008 14:29:01 GMT

I'm patiently waiting for my T-shirt!!!

The agenda: Is the car bailout dead?

Mishka Mehrens Anaconda MT — Fri, 14 Nov 2008 14:31:27 GMT

I am soo sick of the bailout crap. Call it what it is. THE EASY WAY OUT

The agenda: Is the car bailout dead?

Eric, Salinas, CA — Fri, 14 Nov 2008 14:34:02 GMT

The Democrats ought to just cancel that idiotic $850 billion stimulus package and bring it back when we have an honest president and administration. "Criminal" Paulson is a total failure at doing what that money was supposed to do - help the ailing homeowners remain in their homes. All he's doing is helping his big banking criminal pals steal our money to pay off his criminal banking cronies with bonuses they do not deserve. The only thing that Paulson and his big banking pals deserve is federal prison!

If the auto industry fails then millions will lose their jobs and that failure will make the banking problem seem trivial.

The agenda: Is the car bailout dead?

BethanyB — Fri, 14 Nov 2008 14:35:47 GMT

I am so confused!!! So we can give $290 billion to the Wall Street gang and not ask where it is going but, we will let the backbone of at least 3 states go under and what 3-5 million people & jobs will be affected?!

Something is wrong with the priorities of this country. Sure--maybe the big 3 need to restructure and get technology building the energy efficient vehicles we always talk about -- but with out the help from some sort of rescue (not bailout)the big 3 dont have the cash flow to retool their factories.

Soo--my idea - just throwing it out there is this--

Why not take all that rescue/bailout cash and divvy it up to the taxpayer so they can spend it. In turn spending it on a big screen TV will help the small business owners. Or maybe make a mortgage payment or two, helping out the Wall Street Gang. or buying one of the new hybrid vehicles helping out the big 3, and getting a tax break to boot.

Just a thought!!!

The agenda: Is the car bailout dead?

Full Moon — Fri, 14 Nov 2008 14:36:05 GMT

I can't stomach the idea of watching the 60 Minutes interview on Sunday night. All it'll result in is me getting upset and crying like a four-year-old schoolgirl who skinned her knee. I've been crying since November 4th. People are making fun of me.

The agenda: Is the car bailout dead?

marty,columbia,s.c. — Fri, 14 Nov 2008 14:37:29 GMT

Of course the car bailout is dead, that may actually help the working class, but how can we continue to give AIG excutives luxurey juants around the country or world if we help the working class. I just e-mailed both S.C. senators, to no avail I am sure. I cant say I agree with any of this Bailout, but I damn
sure cant see bailing out rich people and then leaving
the USA with nothing but foreign cars to buy. When we lose that 3 million jobs be sure to keep you gun on you at all times. Most of our citizens have no idea how to do without. Thank God Iam poor, that is something I understand, how to do without
marty

The agenda: Is the car bailout dead?

Beverly in Chicago — Fri, 14 Nov 2008 14:40:07 GMT

It’s not surprising the unions are being criticized by that stupid Sean Hannity and his ilk. Unions provide what the people who pull his strings don’t. Pieces of the pie would include fair wages, healthcare, collective bargaining etc.
Most Obama supporters as well as me, will be happy to contribute. We realized during the grueling campaign, long before Plouffe’s appeal, the enormity of this pivotal election.
It‘s for this clarity, if nothing else, I have no qualms. President elect Obama is ready to lead in a far greater, sagacious, manner than Bush/Cheney/McCain. Really, it doesn’t take a sage or blind person to assess the magnitude of how America is hurting.
The focus is now to continue what we did. We cannot exclaim change is in the air, if we negate those hard fought efforts we contributed.
Why do you think there were so many tears of joy Election Night? In addition, we’ll get a historic tee. In my opinion, the tee is a forever reminder of a government by the people, for the people we-- is what we and President elect Obama want starting from the bottom up . There should be no anger or regrets, I think!

The agenda: Is the car bailout dead?

jawillie, Philadelphia, PA. — Fri, 14 Nov 2008 14:41:12 GMT

>>>Obama's first post-election interview went to Ebony magazine. "In an interview to appear in its January 2009 issue, Obama spoke on issues including his historic election, international reaction to it and his hope to capitalize on the enthusiasm of millions of supporters, Ebony said in a statement."
==========
For those of you who may be unfamiliar, EBONY is a staple among African-American households and barbershops. It's our version of "Time" or "Newsweek". If you want to learn more about African-American culture (beyond the stereotypes) this magazine is a good place to start.

>>>It looks like a bailout for the automakers is dead this year. Per the New York Times, "The prospects of a government rescue for the foundering American automakers dwindled Thursday as Democratic Congressional leaders conceded that they would face potentially insurmountable Republican opposition during a lame-duck session next week."
==========
So let me get this straight. We can come up with $700b at the drop of a hat so that financial institutions can reward failure by giving out lavish executive salaries, golden parachutes, and exclusive junkets, but we can't throw something at the very industry this country relies on heavily. Man, I can't wait until January 20th.

67 Days Until Inauguration Day!
http://jawillie.blog.com

The agenda: Is the car bailout dead?

Questions Need Answers — Fri, 14 Nov 2008 14:44:11 GMT

How can Obama rant against the big corporations of this country for two years straight, then the first think he wants to do is send billions of the peoples money to these companies? The bank bailout obviously hasn't worked, so why bailout the automakers?

Obama though is doing exactly what he said he wouldn't. Taking the people's money and spending it on corporate welfare.

The agenda: Is the car bailout dead?

Free American Tehachapi Ca. — Fri, 14 Nov 2008 14:46:22 GMT

Bail them out America, then drive your BMW, Volvo,Toyota , to your local coffee shop think tank.

The agenda: Is the car bailout dead?

Union Job — Fri, 14 Nov 2008 14:47:22 GMT

Obama is in a bind on this one. On one hand he wants to raise taxes so he can pay for the bailouts of the automakers. On the other hand it's the unions that are breaking the backs of the automakers with their gold standard pay and benefits. The only way the US automakers will become competitive again is if Obama breaks up the unions, and we all know Obama is exactly the wrong guy to do that job.

The agenda: Is the car bailout dead?

BJ, CA — Fri, 14 Nov 2008 14:47:32 GMT

No homes, no cars, no computers...no TV's...just what in hell will we do with all this spare time?
Talk to our family?
Plant a garden?
Go to church?
Take a bus?
Read a book?
Depression won't be that bad...
It might slow the immigration numbers...? NOT!
Military spending will go down...NOT!
The future we see now is not in our hands?
Exported nation here we will be again?
Resource regulation and tariffs will follow...
The future is feared by those with no hope..

The agenda: Is the car bailout dead?

Republican Warrior — Fri, 14 Nov 2008 14:50:21 GMT

If the Republicans continue to support these bailouts, I guess I'll have to continue to not vote for them. These congressmen are nothing but RINOs. Might as well let the Democrats win and give away all the taxpayers money, because that's what Democrats do best.

The agenda: Is the car bailout dead?

jesse St.Paul Minnesota — Fri, 14 Nov 2008 14:53:20 GMT

The Repubs will never do anything to help out the auto big three.Why you ask,UNIONS,they don't support there party.Besides most southern states have sold out to foreign auto makers that have no unions.They have there own auto industry.Plus they have a whole lot of banking friends they intend to tale care of before Bush and Paulson are finished.This is the biggest heist of our money in history.No guns,no masks,no get away car,hell no they go right in the front door and take what they want.No over site,no control,no limits.

The agenda: Is the car bailout dead?

MsRoman, Lansing, MI — Fri, 14 Nov 2008 14:55:59 GMT

I am a little leary of the Gov bailing out the big three. Although I think something must be done to help them. As a citizen of Michigan I know first hand how big an impact their failure can be to the economy.

However, I have wondered even before gas prices skyrocketed why they did not have the foresight to plan for the future. Wasn't it in their best interests to adapt and change for the future?

As they moan and complain about the cost of adapting their factories to make green cars I imagine how cost effective it would have been if they had begun to change and adapt before this crisis. Global warning didn't happen over night or the push for green energy isn't new.

American's can take part of the blame for the greed of these companies as well. If there had not been a market for large energy deficient vehicles I doubt the big three would have built them.

Perhaps a solution to the Big three's problem is for them to merge, share their technology. They need to get rid of their leadership and stop rewarding themselves when the company is not making a profit. There's also the question of the unions, they need to make adjustments and cut back on the perks.

The agenda: Is the car bailout dead?

Mary Ann Ureche, Saginaw, Mich — Fri, 14 Nov 2008 14:58:40 GMT

I FIND IT INTERESTING THAT OUR CONGRESS IS SO AGAINST A LOAN TO THE AUTO MAKERS. I HAVE HEARD SO MANY REASONS THAT THEY SHOULD BE "PUNISHED" IE; POORLY RUN, GREEDY MANAGEMENT, GREEDY WORKERS, UNREASONABLE DEMANDS BY THE UAW (LIKE PENSIONS AND HEALTH CARE, HIGH WAGES). IF I REMEMBER MY HISTORY CORRECT,AFTER THE ATTACK ON PEARL HARBOR, THE SAVIOR OF THIS COUNTRY WAS THE ABILITY TO MANUFACTURE AND TO MANUFACTURE QUICKLY, NOW OUR CONGRESS IS WILLING TO CHANCE LOSING OUR (IF NOT LARGEST ONE OF THE) LARGEST MANUFACTURING BASE. WHO DO WE CALL UPON IF ATTACKED? CHINA, JAPAN, RUSSIA? "HEY WOULD YOU BUILD US A COUPLE OF TANKS, BOMBS OH AND YES A SHIP OR TWO AND IF YOU WOULDN'T MIND SHIP FED EX NEXT DAY DELIVERY?" DOESN'T ANYONE THINK PART OF THE PROBLEM COULD BE THAT PEOPLE WHO DON'T HAVE A JOB OR ARE MAKING MINIMUM WAGE JUST CANNOT AFFORD TO BUY A CAR?
I MUST ALSO MENTION, IT WAS REPORTED ON THIS MORNINGS NEWS THAT THE US POST OFFICE IS IN TROUBLE AND LOSING MONEY, LARGE DEFICITS. IS THIS DUE TO POOR MANAGEMENT AND GREED IE; PENSIONS AND HEALTH CARE COSTS? AM I GOING TO HEAR THAT THEY ARE GREEDY AND MISMANAGED LET THEM GO BANKRUPT. I DO NOT KNOW OF ONE EMPLOYER THAT PAYS BENEFITS FOR THEIR EMPLOYEES WHEN THEY CAN NOT AFFORD TO PURCHASE IT FOR THEMSELVES. I ALWAYS THOUGHT THE GOVERNMENT WORKED FOR ME, THE U.S. TAXPAYER. I CANNOT AFFORD HEALTH INSURANCE, WHY AM I PAYING FOR GOVERNMENT EMPLOYEES? SEEMS LIKE IF I AM REQUIRED TAKE THE COSTS OUT OF MY INCOME THEY SHOULD TOO. CONGRESS CHECK OUT THE COSTS YOU MIGHT BE SURPRISED.

The agenda: Is the car bailout dead?

Seattle Sue — Fri, 14 Nov 2008 15:01:40 GMT

Mr Brooks thinks it was fine to bail out Wall Street and big banks with 700 billion dollars and will probably extend to over one trillion dollars. But Mr Brooks is against helping the auto industry that if goes broke will lose 3 million plus jobs. These jobs will be mostly the average working people. But as long as there is money for CEO bonuses, Mr Brooks is happy.

The agenda: Is the car bailout dead?

THREE INTO TWO WORKS WELL ... — Fri, 14 Nov 2008 15:13:10 GMT

THREE INTO TWO!
WE DON'T NEED A BIG THREE ALL OF WHICH CANNOT MAKE A PROFIT.
MAKE THE "BIG 3" INTO THE "BIG 2."
THE ONLY LOSERS ARE THE GREEDY UNIONS!

The agenda: Is the car bailout dead?

Chris, Savannah, Texas — Fri, 14 Nov 2008 15:27:41 GMT

the blame for this mess lies squarely on the UAW. American auto workers in making American cars cost an average of $78 per hour. American auto workers making foreign cars in Alabama and S. Carolina cost an average of $48 per hour, are happier, with better benefits and cars that people actually buy.
The shame and the blame lies with the UAW and big three execs. and guess what, if a bailout happens, that is who will benefit, the UAW and big three execs. Joe Schmoe who makes $135K to put door knobs on cars is still going to get laid off and these companies will still fail eventually.

The agenda: Is the car bailout dead?

barbara windsor ont . canada — Fri, 14 Nov 2008 15:27:44 GMT

yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The agenda: Is the car bailout dead?

Indie Woman in Denver — Fri, 14 Nov 2008 15:43:37 GMT

I agree with many of the previous posts -- not being an economist, I don't know what the "best" solutions to our current prolems are, but clearly handing out big money to Wall Street with NO STRINGS ATTACHED was the WRONG THING TO DO! Someone's gotta get hold of Paulson and rein him in! Can wait until January 20? How many more big companies and everyday citizens will go down by then?

Meanwhile, someone needs to grab the execs at AIG by the [expletive deleted] and force them to give back the money they spent on TWO trips to a lux spa for "team-building sessions," or whatever they're calling it now. There are people LOSING THEIR HOMES while these jokers are laughing in our faces.

The agenda: Is the car bailout dead?

Where is American Engineering?? — Fri, 14 Nov 2008 15:43:47 GMT

The writing has been on the wall for a long time for the car makers. They need to change their way of business. You cannot produce efficient competitive cars when all you are worried about is the Boards and the shareholders. They need to be restructured, unions have to climb down from the horses like everyone else, and get rid of the management that obviously cannot see the writing on the wall. Then give them what they need to retool and research and compete with the European car makers. How do you think BMW, Volvo, Volkwagen got to where they are today in the world markets?

The agenda: Is the car bailout dead?

Blake, Durham, NC — Fri, 14 Nov 2008 21:44:50 GMT

Where were all the comments when new companies were allowed to enter the auto market with government subsidized financing and medical coverage supporting their company. The GM's, Fords, etc had to compete against other companies who did not have a number of retirees, or aged people who required more medical coverage. The easy group to blame is the union. However, if you look at the unions, they are the basis of many of our labor laws that we have on the federal books today. This is all a bunch of crap. My parents worked for over 30 years for GM. Now that they are in their 70's and 80's, are we supposed to kick them to the curb. give me a break.

finally, if you think you want to let the auto industry go, think about this. it takes steel, material, thread, wires, plastic, metal, carpet, leather, computers, tires, brakes, etc, etc to build a car. Which industry do you work in? Also, these good paying jobs shop at clothing stores, grocery stores, appliance stores, they travel, they have hobbies, etc etc etc. Do you work in one of these industries? They eat lunch, they buy cars, they pay taxes that provide for schools, roads, bridges, police, and fire. How do you think this will affect you. I grew up in a town that GM has practically pulled out of. It is in pretty bad shape now. The few thousand jobs that were lost have resulted in 10's of thousand of other jobs, substandard schools, poor roads, high crime, and other issues. Apply that across the country and then think about how we can't do this.

Finally, we use to make stuff and our country and the rich have allowed this great achievement to go to other parts of the world in the name of a global market. I think it is time for us to wake up and smell the coffee. The automakers and the unions have made adjustments. They need the time for the adjustments to take hold. Do your homework and stop throwing stones.

The agenda: Is the car bailout dead?

mk-ohio — Sun, 16 Nov 2008 19:14:02 GMT

The blame for the auto industry failing is the CEO's and engineers. While Toyota, Honda, Nissian and other foreign car manufactures built cars that are efficient on gas, stylish etc our BIG 3 stayed stagnint. The refused to change. Our Government asked the BIG 3 to build a more gas effient car, THEY SAID WE CAN'T!! People blame the unions, I disagree because they can only build what is given to them. Now the BIG 3 want the Gov. to bail them out. Only if they sign a promissary note stating that they will build a car that gets at least 75mpg city without jepordizing safety, size, cost or comfort by 2025. If they don't then they don't get the loan. I also blame our GOV. because back when Carter was President remember the long lines at the pumps. Our Gov. did nothing, when they should have started to increase gas efficiency maybe today we may have been less dependent on Foreign oil.