Posted on 11/16/2008 4:43:03 PM PST by tobyhill
The potential collapse of the auto industry would be "a disaster" amid today's economic crisis, President-elect Barack Obama told CBS' "60 Minutes" in a wide-ranging interview airing Sunday.
"It's my belief that we need to provide assistance to the auto industry," Obama tells veteran correspondent Steve Kroft, according to excerpts released by CBS. "But I think that it can't be a blank check."
The Senate is expected to vote this week on emergency loans to the auto industry, though the measure faces strong opposition from many Republicans.
The bill would authorize loans to the auto industry from the Treasury Department's $700 billion fund to bail out the financial services industry.
Detroit auto executives are scheduled to plead their case in public hearings in the House and Senate.
(Excerpt) Read more at cnn.com ...
Who is going to buy the damned cars???
Oh yeah that’ll help.
They are not blind but they would not see.
It’s a lethal combination of economic ignorance and debt to the auto unions.
Ross Perot tried to straighten them out many years ago when he was on the board of GM. Paid him many $many millions to go away and shut up. Kind of wishing now I’d bought a Tundra (made in TX.) or Titan (made in MS.) instead of the Silverado. Maxima or Camry instead of Saturn (wifes ride). $80,000 worth of union made stuff last summer. Sorry Freepers, I knew not what I was doing. I like my truck, but now feel kind of dirty in it.
Absolutely. That's the only interesting aspect to this story. We know the Dems only care about placating the unions.
If there's a market need, someone will be there to fill it.
Bankruptcy really means reorganization, and the breaking of the union deathgrip on Detroit.
Obama is helping the Big 3 long enough until universal health care can be enacted and all that legacy health care liability can be taken off the books.
Then Obama can take our 401K’s and spread the wealth among all the retired autoworkers so the Big 3 wouldn’t have that obligation any longer.
And people will sit around scratching their heads and wondering why all their hard earned money went to support UAW member retirees living in retirement.
What a deal.
That won’t help. The Big 3 are only incidental carmakers.They are in the main health care and pension providers. A product of contracts that originate from a time when Toyota was still making jeeps and deuce and a halfs for UN forces in Korea, and competition to the Big 3 meant which carmaker could have the biggest Fall preview TV show.
how would you be able to get service for it if they go broke?
__________________
Under bankruptcy they’ll continue to operate. It’ll just force them to drastically reorganize
Well it would be, for the union thugs.
You shouldn't have to, they should be required to give them to us.
LOL! Please everybody contact your Congress Critters just like we did over the illegal immigration...tie up their camn phone so they can’t get a call out! We should keep them under pressure! I’ve emailed and called everyday! The people answering the phones recognize my voice now! :_)
What does one expect from someone missing at least one wheel.
The only disaster I see is that POS being elected President.
Yea.
It also occurs to me that:
a) you’re not stupid,
b) you can learn,
c) once you do, you will realize that it is really not that difficult.
Really.
No, a voice doesn’t come out of the rented box. It will display a code, which has a letter and a number, and this can be looked up in a book that tells you what sensor is complaining. You clear the code by pressing the buttons on the code box to clear the code.
Look, you’re obviously operating a computer to tell me that you haven’t the slightest idea how to “even open the hood.” I worked my way through EE school by being a mechanic. I know which is more complicated: the modern computer or the modern car. You’re obviously operating a modern computer, to me, that means you’re intelligent enough to work on a car. You just need to have someone of whom you can ask questions and get honest answers, ie, someone who isn’t trying to shake you down.
If you’re able to successfully operate a modern computer, you can figure out a car. You might not LIKE working on a car, you might not LIKE getting dirty, and you might not want to do the heavier, more involved/complicated jobs on a car, but you’re clearly not stupid and therefore, you can learn how to service your own car - or at the very least, know when to look for signs of things going wrong.
Bingo!
Only if you want to turn a national rescission in to a global depression.
Google 'Smoot-Hawley Tariff'
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