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Automakers pitch Congress anew on rescue
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Frank | 10:42 a.m. Dec. 4, 2008
I'm glad they showed up by car this time, they really need to work on their
w"e're poor" acting. From what I understand the first time they
went to talk to congress about a bailout the CEO's flew by private jet
($20,000.00 flight cost).
Po' Boys | 11:51 a.m. Dec. 4, 2008
I like how they've "humbled" themselves. But, seriously guys, you
need some hubcaps. You don't need to humiliate ALL Americans by being so
ridiculous.
Detroit Dave | 11:56 a.m. Dec. 4, 2008
We need to bail out these auto makers. This is no time to be stingy and
idealistic. It is time to step up and help others who are less fortunate by
giving the Big 3 access to tax-payer funding for a short time. If we do not,
catastrophic job losses will result and foreign corporations will step in and
buy up these companies.
Take a little pride in being an American! Write your Congressman and encourage them to support a bailout for the auto manufacturers!
Take a little pride in being an American! Write your Congressman and encourage them to support a bailout for the auto manufacturers!
Comments continue below
idiotic!!! | 12:18 p.m. Dec. 4, 2008
Why burden that tax payers so that the Unions of the big 3 can pay their
employees $150,000 a year? These Union Employees (non-managment) have no
college education and make $75 per hour. At Toyota the total compensation
package is only $41 per hour for non-managment employees.
No more Bailouts | 12:26 p.m. Dec. 4, 2008
Detroit Dave, do we need this as bad as we needed to buy the bad paper with the
700 Billion? These companies should go through bankruptcy and work there way
back.
Yes call your Congressman and tell them we cannot spend our way out of debt. Can we do that in our lives? No, so why does the government think more debt will fix this problem?
Yes call your Congressman and tell them we cannot spend our way out of debt. Can we do that in our lives? No, so why does the government think more debt will fix this problem?
Anonymous | 12:42 p.m. Dec. 4, 2008
These companies need to reduce expenses and fix themselves. How about selling
off your private jets for a start and reducing pay to the top dogs. No sense in
punishing employees and taxpayers by layin off an insane amount of employees and
make taxpayers fork out the cash for a temp fix. Make these multimillion dollar
executives fork out their own cash, sell off their estates and Bentley's
and then maybe the government and the American people will think about a
bailout.
Fred | 12:52 p.m. Dec. 4, 2008
Why not the automakers? Why do they even need to provide a plan. Wall Street
didn't have a plan, How did the AIG guys arrive in Washington? What
restructuring where they forced to do? What new business plan did they have to
produce, what cuts where their executives taking in their bonuses? By the way,
how do you get a bonus for managing a company that is losing money? AIG has
already been back for a second round of bailout money. I would personally say
what is going on with the automakers is grandstanding by congress. Oh and by
the way my belief is no money should be spent on bailouts, if we believe in
capitalism, then lets be capitalists, a real capitalist wouldn't bail
anyone out.
bunyun | 12:56 p.m. Dec. 4, 2008
we should walk( including these low paying jobs )
Loralai | 1:01 p.m. Dec. 4, 2008
I don't understand the comment that customers would not buy from a bankrupt
car company. The airlines went bankrupt and people still flew on them. How in
the world do they make that assumption and claim?
CITI | 1:16 p.m. Dec. 4, 2008
Bush gave Citi severl bunches of billions without much of a blink. Could it be because Citi is controled by the Saudis they get bailout?
When all is said and done the execs will be back to their seven figure salaries and the US autoworker will be thankful for $7 hr. Oh heck....why not just hire "guest" workers.
itsjustme | 1:29 p.m. Dec. 4, 2008
For years, the Big 3 have subsidized their money-losing car lines with the
high-profit SUV and pick-up lines that they sold. When people stopped buying the
high-profit models, they got into trouble. Labor costs doomed them from the
start. If they all go into bankruptcy, they could get the huge monkey off of
their backs, that are the money-losing union contracts. Only then will they
return to profitability.
For the government to throw money at them would be a total waste of taxpayer dollars. Let the free market do the job it does best. The strong will survive; the weak will go by the wayside, much like the Studebaker.
For the government to throw money at them would be a total waste of taxpayer dollars. Let the free market do the job it does best. The strong will survive; the weak will go by the wayside, much like the Studebaker.
Makes Sense | 1:45 p.m. Dec. 4, 2008
This makes total sense! Let's bail out these guys who come asking for $25
billion private jets and then come and ask for $34 billion driving hybrid cars.
So since you come asking in an environmentally friendly vehicle we'll give
you an extra $9 billion. Makes sense to me. That extra $9 billion is "in
case" we overbudget and need it.
Yeah that makes sense.
What about a budget! Do these guys not need to budget and realize that you can't spend more than you make, especially $34 billion more than you make!
Makes sense to bail these guys with taxpayers money so they can turn around and charge us an arm and a leg for a new vehicle when we are the ones who kept them from bankruptcy. Biting the hand that feeds does not apply here.
Makes sense that millions are losing/have lost/or are about to lose their jobs and houses but these guys are more important than any of them.
Where's my bailout? My bailout is only to pay my house and my cars. It's only going to be less than $250k.
It makes sense to bail these guys out! (I am being sarcastic)
Yeah that makes sense.
What about a budget! Do these guys not need to budget and realize that you can't spend more than you make, especially $34 billion more than you make!
Makes sense to bail these guys with taxpayers money so they can turn around and charge us an arm and a leg for a new vehicle when we are the ones who kept them from bankruptcy. Biting the hand that feeds does not apply here.
Makes sense that millions are losing/have lost/or are about to lose their jobs and houses but these guys are more important than any of them.
Where's my bailout? My bailout is only to pay my house and my cars. It's only going to be less than $250k.
It makes sense to bail these guys out! (I am being sarcastic)
American | 1:56 p.m. Dec. 4, 2008
If we had a little more pride in our country we wouldn't be in this
situation. America makes great vehicles. Why not buy American??? I am a GM
fan and will always be one. The vehicles I own are as good or better than any
out there. Lets support the companies that helped to make this country great.
We need to help the Big 3 car companies and then we need to support them by buying American.
We need to help the Big 3 car companies and then we need to support them by buying American.
Dean Jensen | 2:18 p.m. Dec. 4, 2008
Give them the money. I like my Ford.
To Detroit Dave | 2:39 p.m. Dec. 4, 2008
................ sorry about the long pause, but I had to stop laughing. Were
you being sarcastic?
The "less fortunate"? Are you talking about those making millions, fly in corporate jets and driving free cars? Or are you talking about the overpaid union workers who even get paid when laid off? I really don't think you are talking about single mothers with kids in the hospital.
Detroit has been out of control for decades; even my considerable lifetime. They need to face reality and make the sacrifices needed: cut back hard and deep at all levels. Go to court to get the union contracts nullified - there are plenty enough "less fortunate" to fill the job ranks. If bankrupcy is necessary, then joing the thousands of small businesses in the same boat. If selling out to more efficient companies is the last chance then americans will probably have better cars to buy.
This is a pitch to grab a large chunk of the tax payer based bailout.
I'm one of may thousand of small businessmen who have been shut down due to the economy. I don't hear of anyone talking about a bailout for the little guy.
The "less fortunate"? Are you talking about those making millions, fly in corporate jets and driving free cars? Or are you talking about the overpaid union workers who even get paid when laid off? I really don't think you are talking about single mothers with kids in the hospital.
Detroit has been out of control for decades; even my considerable lifetime. They need to face reality and make the sacrifices needed: cut back hard and deep at all levels. Go to court to get the union contracts nullified - there are plenty enough "less fortunate" to fill the job ranks. If bankrupcy is necessary, then joing the thousands of small businesses in the same boat. If selling out to more efficient companies is the last chance then americans will probably have better cars to buy.
This is a pitch to grab a large chunk of the tax payer based bailout.
I'm one of may thousand of small businessmen who have been shut down due to the economy. I don't hear of anyone talking about a bailout for the little guy.
Today's economy | 2:49 p.m. Dec. 4, 2008
In today's economy buying a new car is the least of my worries. I am
worried about keeping my job, keeping my house, and providing for my family.
Buying an overpriced NEW car is the least of my worries.
Maybe Big Auto needs to cut all the tax payers a break on the prices since they have the AUDACITY during these scary times to ask for our tax dollars to bail them out! Shoot 90% of us could use a "bailout" but the Big 3 want to use MY tax dollars to bail THEM out. Wow, that's a lot of nerve.
Every car I have owned has been a Chevy or Ford, but I don't blame people for buying the "other" cars. Big Auto hasn't never looked out for me so I don't see why I should give them any of my tax money.
Maybe Big Auto needs to cut all the tax payers a break on the prices since they have the AUDACITY during these scary times to ask for our tax dollars to bail them out! Shoot 90% of us could use a "bailout" but the Big 3 want to use MY tax dollars to bail THEM out. Wow, that's a lot of nerve.
Every car I have owned has been a Chevy or Ford, but I don't blame people for buying the "other" cars. Big Auto hasn't never looked out for me so I don't see why I should give them any of my tax money.
anon | 2:54 p.m. Dec. 4, 2008
If those multi million dollar ex`s would take a pay cut lik the ceo did and work
for a dollar a year they would not need to be bailed out.. When you buy from
them ,they dont give a darn how much they over charge for a car as long as
they can get thier salary..
Now it is our turn... | 3:02 p.m. Dec. 4, 2008
As owners in the Big 3, the American people will now have to do our part to
support our nation. The next time you need to buy a new car, make sure it is a
Ford, GM, or Chrysler family product!! It doesn't matter what you do for a
living, your 401K and our economy depend on our largest export and GDP producing
product - cars & trucks.
The Big 3 have made the critical changes necessary, and more will come, but the help we need is now from us. It isn't 1970, 1980, or 1990 anymore - Ford products are equal quality to the best in the world and the Fusion is on the cover of Consumer Reports' current auto issue. Fuel mileage is not significantly different between new Asian and new American cars either.
The Big 3 have made the critical changes necessary, and more will come, but the help we need is now from us. It isn't 1970, 1980, or 1990 anymore - Ford products are equal quality to the best in the world and the Fusion is on the cover of Consumer Reports' current auto issue. Fuel mileage is not significantly different between new Asian and new American cars either.
Buy American - Worst Lie Ever | 3:14 p.m. Dec. 4, 2008
If you say buy American you are saying I want to pay for some redneck who
graduated high school to make $150,000 per year and overpay for a vehicle that
cannot be produced as well as foreign because the money for R&D is spent on
rediculus salaries for Union Workers.
Jim | 3:31 p.m. Dec. 4, 2008
Not just the execs, but the autoworkers need to take a paycut. I understand the
workers earn $81/hour ("idiotic" said $75, so somewhere in that range)
and when not working get up to 95% of their salaries. No wonder they are asking
for $34 billion.
Union? | 3:33 p.m. Dec. 4, 2008
Why make the Union the fall guy for the Big Three's bad business practices.
They were cranking out huge gas guzzling SUV's when the price of gas was
pushing 3 and 4 dollars a gallon. These were the same gusy that were building
Thunderbirds in the 70's during the fuel crunch and got their lunches eaten
by the compact car market. And who on the production line is making 75 bucks an
hour?
BK | 3:38 p.m. Dec. 4, 2008
It would have been funny if they arrived in a BMW or Mercedes!
SpenceOC | 3:48 p.m. Dec. 4, 2008
These crooks can't be trusted no matter what they say. The dishonest
nature of the auto industry is such that it has become obvious that they are
just looking for "free" money. What a joke.
Concerned American | 4:18 p.m. Dec. 4, 2008
This is not just a bailout for the big 3 automakers, it's a bailout for the
millions of jobs that are at stake if the carmakers go under. Where are 3
million people going to find new jobs in the current economy. All you people
who oppose the bailout need to be realistic and see what's best for not
just the economy, but American workers.
(H)Bummer | 4:23 p.m. Dec. 4, 2008
I kind of like that these American car companies are scraping the bottom of the
barrel. Honestly, what the world needs right now is environmentally friendly
vehicles, and if American car companies aren't producing them then we are
going to (and many people already are) need to look elsewhere. Maybe this crisis
will cause those fat cats to stop making giant SUVs and start making more
economical cars like foreign car companies have been doing. I will gladly buy
and American made car...when they stop disregarding our current environmental
crisis and get rid of those gas guzzlers!
bail out T-shirts | 4:45 p.m. Dec. 4, 2008
I see alot of T-shirts poping up now that say "I need a bail out!".
Sadly, this is actually pretty accurate. Everybody and their mother is asking
for a bail out these days. I hate to say it but maybe going into unrecoverable
debt for the next 200 years may be the only way out of this recession.
bucks | 5:35 p.m. Dec. 4, 2008
The numbers........25Billion now with a 175 billion yearly return to the Fed in taxes etc.
0 on the bailout and up to 1 million unemployed at 60% of their weekly salary in unemployment at our expense. The direct Union workers will get their 95% till it rubs out.
Now compete with those million unemployed with the million already in the lines and add their homes and autos to the list of forclosed properties .....
Buy parts for your american autos from who knows where for who knows how long so your cars are worthless......
Perhaps the laid off workers can work for the new China Auto Inc for $6hr and send more profits to foreign pockets.
Those million workers are Americans....they pay taxes and support this country as we all do so don't complain as your taxes rise to cover the cost of the bread lines.
If Bush can bail out Citi and its Saudi owners we can bail out the US Auto workers.
What gas guzzlers? | 5:46 p.m. Dec. 4, 2008
What are you guys talking about? You anti Americans must be thinking of your 79
Oldsmobile compared to a 2009 Toyota Prius. Compare (as reasonably as possible)
apples to apples when shopping for a car.
The new 2010 Ford Fusion Hybrid gets 6 MPG better in the city and 2 MPG better Hwy than the 2009 Toyota Camry hybrid. The Toyota Land Cruiser gets 13/18 and the Ford Expedition 14/20. Toyota Sequoia 14/17 and Chevy Tahoe Toyota Tundra pickup 15/19 and Chevy Silverado 16/20. Honda Pilot 17/23 and Ford Flex 17/24. Ford Focus is something like 35 hwy, same or better than all the small economy cars, and a better car too. I could go on and on, but I hope I have given you something to think about. Don't assume that your Honda or Toyota have better mileage, because they don't.
If you haven't been paying close attention for the past 10 years, you will pay too much for an over-priced Toyota or Honda and think you are getting better mileage - but be fooled. Things have changed, folks. Be American - Drive American!
The new 2010 Ford Fusion Hybrid gets 6 MPG better in the city and 2 MPG better Hwy than the 2009 Toyota Camry hybrid. The Toyota Land Cruiser gets 13/18 and the Ford Expedition 14/20. Toyota Sequoia 14/17 and Chevy Tahoe Toyota Tundra pickup 15/19 and Chevy Silverado 16/20. Honda Pilot 17/23 and Ford Flex 17/24. Ford Focus is something like 35 hwy, same or better than all the small economy cars, and a better car too. I could go on and on, but I hope I have given you something to think about. Don't assume that your Honda or Toyota have better mileage, because they don't.
If you haven't been paying close attention for the past 10 years, you will pay too much for an over-priced Toyota or Honda and think you are getting better mileage - but be fooled. Things have changed, folks. Be American - Drive American!
How about..... | 6:27 p.m. Dec. 4, 2008
bringing back the GEO Metro? I just rebuilt one when gas was $4.11 per gallon.
I am getting 45-48 MPG highway and about 40 MPG city. Not a sexy car but my
pocketbook loves it. I parked my Dodge Ram 1500 and will keep it parked even if
gas hits $1.00 per gallon. My way of sticking it to the road taxes, car
companies, and especially the oil companies. I did my part without having to
take the UTA which I have never taken and never will.
By the way, where is my bail out? I need money more than the rich auto, oil and bank fat cats.
By the way, where is my bail out? I need money more than the rich auto, oil and bank fat cats.
Sorry about your Geo Metro | 8:16 p.m. Dec. 4, 2008
But the government killed the Geo Metro. They increased the emissions
requirements and the engine could not meet the stringent levels for the mid
90's and so it had to go. I have a 93 Lincoln Town Car with 180,000 miles
that still pulls 26 on the highway - about the same as a new Lincoln, but
without the near perfect emissions of a new Lincoln. That's what we call
progress, I guess. The automakers could probably make cars with much better
mileage, but emissions would be worse - we we have to have a balance. Many Ford
and Honda vehicles today run on gas and are PZEV (partial zero emissions
vehicles). You can't complain about that, but they get 30 MPG, not 45 MPG,
like a dirty Geo.
That's another reason for the government loan (bailout). If government wants to set the regulations, they have to help pay to meet them.
That's another reason for the government loan (bailout). If government wants to set the regulations, they have to help pay to meet them.
BG | 10:16 p.m. Dec. 4, 2008
This is a tough one! The Big 3 have mismanaged their companies for over 3
decades. It's no wonder they face financial ruin. We have a difficult
choice to make here. A bailout is only feasible, with significant checks,
balances and stock. Mangement from the top to bottom must be evaluated and
trimmed to competitive levels, salaries/perks slashed or eliminated where
accessive. Current top tier management must be fired and replaced with
competent, seasoned professionals, required to meet specific mandates,
strategies and goals. UAW contracts must be renegotiated and wages slashed to
make Detroit competitive - with a minimal layoff clause. Under no circumstances
are, We the People, to give billions to this industry and then allow them to
layoff significant hourly wage earners and compound an already catostrophic jobs
lost report.
Research and development of energy efficient vehicles must be prioity 1 in Detroit. Dinosaur lines and models must be eliminated immediately, while retooling begins for new hybrid vehicles. Specific benchmarks must be in place, with oversight required. Everyone is held accountable and all disciplines must meet production goals. Prices must be reduced to compete in both national and international markets. A gamble - it is!
Research and development of energy efficient vehicles must be prioity 1 in Detroit. Dinosaur lines and models must be eliminated immediately, while retooling begins for new hybrid vehicles. Specific benchmarks must be in place, with oversight required. Everyone is held accountable and all disciplines must meet production goals. Prices must be reduced to compete in both national and international markets. A gamble - it is!
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Win McNamee, Getty Images
Richard Wagoner Jr., Chairman and CEO of General Motors, left, arrives in a prototype electric vehicle for a Senate hearing with Rep. Sander Levin (D-MI) Thursday in Washington, D.C. Top executives from the three major U.S. automakers are scheduled to appear before members of the Senate today to discuss proposed bailout legislation for their industry.
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