First of all, there is no Constitutional authority to give my money and your money to the automakers.
Doing this will only keep them pursuing the same bad policies which got them in this hole — plus a bunch of expensive liberal social nostrums that will make matters worse.
Chapter 11 could be the best thing that could happen to them. It woudl enable them to shed unsustainable obligations, streamline, and reorganize in a way that makes for a more efficient operation.
Contact your Representative and Senators and tell them to oppose the auto bailout.
The US auto industry has not yet pared to the bone. The retirees make more in retirement than many other Americans make in their yearly paycheck. I am a proud Toyota Corolla owner and I support a good company by buying a dependable vehicle at a fair price. Why should I be forced to support the Big 3 bozos with my tax money.
Hey that's not too bad..LOL
I actually watched the hearings on CSPAN...
You could tell that the politicians, the auto executives, the lawyers, and the union bosses knew the outcome. The whole thing was a show trial, a formality, lots of lip service to the taxpayers, but nobody asked the ultimate question of why I (and YOU) should pay for someone else’s poor business decisions.
It is not a net benefit to the nation to take from people with a median family income of $50.233 and use it to keep people making $74/hr employed, especially when the latter group is “done making concessions”.
What do I say to this?
Reps: http://www.house.gov/
"This is a bridge loan to nowhere."
"This is a down payment on many billions to come,"
"This is 30 years in the making."
"These companies basically have failed or are failing. They probably need, according to some people, about 60 percent of the management to go, and about 40 percent downsize of the workers."
Sen. Shelby is correct.
WTF does that dick-head know? All he wants is people to be afraid so he can come "save them." He wants control, and the more bail outs we have, the more control Obama will have over the nations commerce. Obama has'nt enough clues to sit down and STFU. He is showing everyone that he is dumber than dirt, even for a POS born outside of the USA.
Of course its a bridge loan to nowhere. This is strictly fodder for the Unions for an industry that is way over staffed by line workers who earn 75 bucks an hour, and have pension plans envied by the whole nation. This is the Union attempt to extend their hog wallow for one more year or so.
Whats happened is that the Unions have ruined another perfectly good business. You will notice that Toyota is not Unionized, and its workers do quite well.And Toyota thrives.
NO UNION BAILOUT. Let the big 3 file for Bankruptcy and work their way out of it, and EFF the Unions.We can all drive Toyotas if they do not make it.
BTW, he knows where Obama was born. The State of Alabama has the ammunition to save the nation from this POS Obama, if they would only use it.
Bailing out any carmaker to allow them to contimue in a market that is not big enough for all the players is just stupid. No matter how much money gov’t hands out, they can’t increase the market. Somebody needs to shrink or go away.
"“This is a down payment on many billions to come," Shelby warned. "This is not something that happened overnight. This is 30 years in the making. These companies basically have failed or are failing. They probably need, according to some people, about 60 percent of the management to go, and about 40 percent downsize of the workers."
The bigger issue, and you see it with globaloney warming among other things, is that the libs are seeking to remove dynamism out of life by telling us we have to preserve the conditions that exist at a particular point in time whether they be climate conditions or the state of an industry including the number of businesses and employees. Every policy they have is designed to manage a steady state which is contrary to nature and the only way they can do that is by strict control. Bailing out the auto industry comes with strings not because they want to hold them accountable, but because the libs want to maintain the snapshot they have of it. So how ever many businesses and employees exist at the time of their snapshot, that's how many businesses and employees they will seek to maintain no matter what it takes. Central planners, who cannot control the teenagers in their own houses and don't learn a thing from their failures there, somehow think they can control entire industries and ultimately the economy. They cannot, of course, but they'll ruin the economy trying and far too many here in this country are now willing to allow it.
Senator Shelby picked a great way to celebrate Pearl Harbor Day. By relentlessly attacking a vital American industry and advocating a course of action that would cause that industry and the technological base it supports to disappear, as well as ensuring the domination of the American and indeed global auto market by Japan for decades to come, he has no doubt caused much rejoicing in the Land of the Rising Sun. It’s only a shame Hirohito and Tojo weren’t around to see Shelby attacking an industry that was instrumental in helping to defeat them. They would have been so proud of him.
I would agree to a bailout on one condition. That all officers and board members immediately step down with no severance.
Good for Senator Shelby. There is no reason why auto workers in non-union states (or anyone else for that matter) should subsidize UAW “legacy” promises which weren’t realistic then and are even less realistic now.
But none of them are going to survive by cranking out mediocre cars in quantities 40-50% higher than the American market can absorb and in turn needing to promulgate absurd credit schemes to make their products virtually free to consumers in the short term. If that's the only way they know how to do business, then they'll have to go bankrupt.
Toyota, BMW, and Boeing can buy up whatever assets have commercial or military value and repurpose the production lines to make products that will sell. Big Three bankruptcies aren't going to be the "disaster" that would prevent us from having enough trucks and tanks to win WWII again, should the need ever arise.
thought is was Caroll Shelby and there would be some nice mustang pics. no such luck.