U.S. Could Take Stakes in Big 3

The Wall Street Journal ^ | 12-08-08 | Greg Hitt

[prismsinc]

WASHINGTON -- Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the U.S. government a substantial ownership stake in the industry and a central role in its restructuring.

Under terms of the draft legislation, which continued to evolve Monday evening, the government would receive warrants for stock equivalent to at least 20% of the loans any company receives. The company also would have to agree to limits on executive compensation and dividend payments, much like those contained in the government's $700 billion rescue of the financial industry.

[prismsinc]

The new food stamp program of the 21st century: glorified golf carts for the poor....

[Dixie Yooper]

Just force all of them from the top down to join the UAW... Then watch everything really come unglued.

[pnh102]

Pathetic. The USA gave up on the Big 3 long ago. Why is it, even with most people against the bailout, that so many Republicans are going for it?

[highlander_UW]

It seems I now own some banks and will soon own some auto companies...I think I'm going to retire and live off the income from my investments. How do I get the gov’t to send me my money?

[pepsi_junkie]

Ah, nationalizing the auto industry. And just in time, too. Yugo just closed their production line down so now the big three can start filling the gap in the market for crappy cars that stink on ice built by government controlled companies that no longer care about turning a profit, only keeping labor unions fat and happy.

[Graybeard58]

Hang on to your a$$, here we go down that socialism slope.

[pgkdan]

Hang on to your a$$, here we go down that socialism slope.

First the financial industry and now the auto industry. And all under a Republican Administration!!! I never thought I'd live to see the day. I can't imagine how bad it will be after 0's inauguration.

[Doogle]

Barrack Chavez Obama sits quietly on the side while nodding approval. There's going to be a lot of nodding. The empty suit will impose billions more “to help” fight Globull warming...unopposed. The UN has already been promised billions over the next ten years by the generous one. The dying MSM will be next, after all, their also too big to fail.
The propaganda wing of the Democratic party must receive taxpayer money. They fund the ACLU,ACORN,PBS,and all sorts of the liberal outlets, and of course, it will all be blamed of Bush.....and the RINO’s?

[IbJensen]

One of the inmates currently in charge of the nuthouse that was America.

[VanillaBlizzard]

ha ha nice...

[massgopguy]

When did it become legal for the government to own Stock? When did it become legal for the governmnet to be invested in a market it maipulates, I’m sorry I meant regulates? I drive a Mercury Marquis, but I’m buying Japanese next time.

[Blood of Tyrants]

So we are getting stocks? Aren’t the stockholders the ones who are the FIRST to lose all their money and then never get paid when a company goes out of business?

[wmfights]

Why is it, even with most people against the bailout, that so many Republicans are going for it?

They never learn.

At the bottom of the article is a picture with the location of the final assembly plants. Almost all the plants are in Rat states. You don't see very many plants in right to work states, yet the Pubs will vote for it saying "it would have been worse".

[goodnesswins]

We will NEVER, ever buy another vehicle from one of these companies if the GOVERNMENT “officially” takes a stake in them. We need men with B*lls these days....the panty waists who run these companies should be sitting there telling the Congresscritters the SHOVE it and get rid of the CAFE standards, the other regulations and let them RUN their business....since all that CONGRESSCritters do is RUN THINGS INTO THE GROUND!!!