The Big Three...

[Raddicted]

The Big 3 bailout. What's your opinion?

I assume everyone on here is aware of the current domestic automobile crisis with the "big 3" corporations. After watching the deliberations on CSPAN I have mixed feelings about this issue right now.

Do we let free market economics prevail and let them go under, crushing the US economy even further and letting 3 million people lose their jobs. OR does the government step in and hand them this 25 billion of tax payers money with the hope that the money will be used wisely and effectively, and not just wasted away on neglectful spending and mismanaged operating costs?

What are your opinions on this matter?

ps: Lets keep this relevant to the business and economic factors of the issue and not the politics.

 

[v-dub89]

I'm still not sure how I feel. I want them to stay afloat if they can change and have better products and stop selling BS cars. I don't feel that way about just the big 3 though; most automakers are doing it wrong according to me, what can I say, I have been spoiled with a VW :biggrin: I think they should be given a chance with the money, and if they burn through it and still havn't gotten nowhere, then they should just be left to die. Just my 0.02

 

[Si Killer]

i say let them file chapter 11, do away with the unions and pay their blue collar workers the same as toyota does (about half). gm and ford have both taken steps towards improvement with innovation in their products(gm) and cutting unnecessary branches(ford). i have to see anything on chrysler's end though.

 

[Eric1285]

Let them go through bankruptcy so their union contracts and legacy costs can be renegotiated. Otherwise they'll be back in a couple years when they've burned through the cash.

 

[ldourlaingti]

let them go bankrupt. Its partially their faults. Unwilling to change with the times is going to hurt them. Plus, flying out in private jets? Who the F*#& thought that was a good idea??

 

[Raddicted]

i have to see anything on chrysler's end though.

Rumor has it that Cerberus Group have no interest in Chrysler or the automotive industry in general and are preparing for a quick flip and run.

 

[v-dub89]

let them go bankrupt. Its partially their faults. Unwilling to change with the times is going to hurt them. Plus, flying out in private jets? Who the F*#& thought that was a good idea??

LOL yeah, and paying the big guys huge bonuses, etc. They're not very smart financialy.

 

[bovice]

 

[Si Killer]

 

[ldourlaingti]

^^

:laughabove: :bellyroll: HAHAHA!!

 

[bovice]

HAHAHAHAHAH

 

[mkvtg37]

this is all we have been talking about in my 'money and banking' course. and here is my opinion.

the big 3 US auto manufacteurers make shitty products. no question there, i could go on and on and on for days and days and days about how terrible american cars are, but it would get nowhere. ignorant people would continue to buy terrible products from american car-makers. that being said, i do not think we should bail any of them out.

we must all remember that if american cars are put to rest, there will be more demand for foreign cars, therefore, foreign car dealerships and factories will have to be build in (guess where) america--americans who lost their jobs working in american car companies can then move to the foreign car jobs.

also, american cars will still be on the road, and will still need to be fixed until they are run into the ground (which could take anywhere from 2-3 days). so body shops and service departments could still operate and employ workers from the big 3.

so to the bailout, i say fuck you. just my opinion though.

 

[Bad hare]

this is all we have been talking about in my 'money and banking' course. and here is my opinion.

the big 3 US auto manufacteurers make shitty products. no question there, i could go on and on and on for days and days and days about how terrible american cars are, but it would get nowhere. ignorant people would continue to buy terrible products from american car-makers. that being said, i do not think we should bail any of them out.

we must all remember that if american cars are put to rest, there will be more demand for foreign cars, therefore, foreign car dealerships and factories will have to be build in (guess where) america--americans who lost their jobs working in american car companies can then move to the foreign car jobs.

also, american cars will still be on the road, and will still need to be fixed until they are run into the ground (which could take anywhere from 2-3 days). so body shops and service departments could still operate and employ workers from the big 3.

so to the bailout, i say fuck you. just my opinion though.

I see your logic. But, just to play devils advocate.

As a country we currently produce close to nothing. We have a work force that really doesn't make much of a tangible product.

So, once cars are gone, what do have?

(ps, i have a bunch of comments floating through my head, but i had a really late night last night and i can't put together my thoughts yet! lol (sad i know). waiting for the coffee to kick in).

 

[BigTuna]

also, american cars will still be on the road, and will still need to be fixed until they are run into the ground (which could take anywhere from 2-3 days).

:lol:

So true.

I dunno, I'd be mighty pissed if my tax dollars were going to bail out companies who refuse to make a decent product, purposely engineer components to fail, and wastefully spend money the way these guys do.

The jobs will come back to the people who lose them. Just a little different. They won't be making $70,000 a year to do a job that could be done by a monkey in a diaper.

These companies, and the unions that are essentially running them, shot themselves in the foot.

 

[VandalRG]

also, american cars will still be on the road, and will still need to be fixed until they are run into the ground (which could take anywhere from 2-3 days).

HAHAHAHAHAHAHA, ok that had me laughing for a few minutes. Good stuff!

IMO the only way we should bail out the US auto makers is if there are lots of strings attached. Strings that would force the same kinds of reform as bankruptcy would. There need to be cost cutting measures across the board, including the elimination of the perks and bonuses that the executives enjoy. Their wellbeing should be directly linked to the health of the company - if it is failing, they shouldn't be living like kings.

If that cannot happen, then let them fail. We could probably save just as many jobs bailing out small and medium sized businesses as well, but we don't because it's capitalism at work!