Posted on 11/16/2008 11:06:12 AM PST by St. Louis Conservative
That beeping sound you hear this week is the semi-truck being backed up to the Federal Treasury in Washington. After being filled with taxpayer billions, it's on its way to Detroit.
A heaping bailout for the Big Three automakers - currently losing millions every day theyproduce cars no one wants to buy - feels like it's being gift-wrapped for the holidays.But the beeping sound you should be hearing is the heart monitor of the Big Three, slowing downto flatline. General Motors, Chrysler and Ford are such horrific financial wrecks that not even the Jaws of Life - and certainly not a taxpayer bailout - can save them.
MORE: The Future Of Cars
MORE: The Auto Industry: Boom To Bust
"We're funding a day care system for people with extinct skills," says Michael Covel, an entrepreneur, trader and author who is among many to back the simple argument: "let them die."
"We'll be a heck of a lot stronger in the long run if we just take the pain on this right now. They'll burn through it and be back for more. We're turning auto jobs into government-supported jobs and it's a shame." In just under two years, GM has lost $57 billion. The current quarter will provide more huge losses, and even in its regulatory documents the company admits that demand for its products isn't coming back soon. Translation: profits are as likely as trucks that run on rainbows.
(Excerpt) Read more at nypost.com ...
I wouldn’t mind that heppening since they vote and contribute to a socialist. I’m 36 if you are curious.
You mean the Japanese companies will make our ships, planes and tanks as in WW II?
“Because the vast majority of employees for GM, Ford and Chrysler are part of the UAW.”
They all are, even some in management, it’s a work requirement.
“The UAW is opposed to conservatism and threw all its weight to get Hussein and other socialists elected. Ergo, the UAW is an enemy of conservatism and its losing hundreds of thousands of dues-paying members is good for conservatism.”
The UAW is a self preserving institution. Again, you’d lose your body to save your arm?
You should become a pollster considering that you know how all of the UAW members voted. You do not know how they vote or voted.
“Besides, few people actually buy GM, Ford and Chrysler anymore these days, no one is going to miss them if they go under”
For bandwidth brevity... got any stats to back that up?
Where did I make such a presumption? I simply stated the fact that the UAW as a union threw all of its weight behind socialists running for office. This is an irrefutable fact. How does the UAW get its money? It comes from dues-paying workers who work for places like GM, Ford and Chrysler. If those companies go down, then the UAW loses its funding. I see nothing wrong with this.
then what... unemployment benefits...
And none of that goes to the UAW. If we have to bail out these workers, I'd take the option that doesn't fund a union as opposed to an option that does.
No kidding! I had no idea!
The UAW is a self preserving institution. Again, you’d lose your body to save your arm?
The UAW is a cancer. It will kill its host unless it is killed first. Would you rather die of cancer than kill the tumor that will kill you first? For me personally, I won't miss GM, Ford or Chrysler as I haven't bought anything from them in years.
You should become a pollster considering that you know how all of the UAW members voted. You do not know how they vote or voted.
Again, where did I make this claim?
For bandwidth brevity... got any stats to back that up?
Yes. The fact that GM, Ford and Chrysler are the only companies whining for a bailout as opposed to superior car companies like Toyota, Honda, Hyundai, Kia, Mercedes, Mitsubishi, Isuzu, Subaru and Volkswagen who are not. Even in this economy, the car companies I list may be experiencing some financial pains, but they are not in the crapper the same way GM, Ford and Chrysler are.
Let the UAW bail them out, afterall they are a primary reason the Big Three are in the mess they are in.
“Nothing can save GM or Ford with their present management and union contracts.”
Well at least you provided a caveat and possibility, similar to Chrysler under Iaccoca.
I’m not commenting on your other links since I haven’t read them...
I was unaware that cars were obsolete so we don’t need people who know how to build cars.I guess you are one of those people who believe in a service economy. We see how well that is working. You know not everyone who works for or coordinates with GM is a union member. Basically what you are calling for is to kill GM so you can kill the Union thus helping Republicans electorally-what a miserable idea. Especially after the GOP bailed out the banks. This was requested by a Republican president-remember?
The banks will use this money to give fat bonuses to its VIP’s and buy other banks. They will not lend money apparently nor seriously address the mortgage situation. Yet, an industry which asks for a loan for a pittance compared to the bank money is turned down. Millions will lose their jobs mostly in the Mid West. I promise you, the GOP will lose the Mid West in future presidential elections.
People will never forgive the GOP and will not vote for them. No Repub in my lifetime has won the White House without Ohio. So go ahead, filibuster, show those unions who’s boss- but beware the consequences-permanent minority status. I have been a life long Republican. I work for GM. I will never vote for a GOP candidate again if the auto industry goes under. Never mind about my job (bad enough), it would be a disaster for this country. I could never vote for a party that put an entire industry out of business with a motivation of pure spite.
Now you will have to excuse me. I must attend a memorial service. My 51 year old neighbor across the street hung himself in his garage several weeks ago. He had worked for Adelphi for years.
Then GM, Ford or Chrysler should consider what other businesses in their situation have done. Declare bankruptcy.
In the unlikely event that we got in another big, protracted war that didn’t involve multiple nuked US cities, the demand for ships, planes and tanks would be met even if the big three were not around. Demand would create supply.
If there is plant needed to cast a turret, for example, it could be mothballed and broken out when needed, and the demands of changing technology would make the stuff we have today obsolete in short order in a “new WWII” even if such an event occurred.
Propping up companies that need to go chapter 11 to get lean again is the same recipe that allowed a panic to become a depression in 1929. Hoover and FDR tried to tax and spend the country out of it, and it didn’t work for ten years, ending only when the war came.
I bought a fedora the other day, because the election of Obama and the segment of the Republican party that favors government bailouts sure seems to indicate we are headed back to ‘29, and I might as well be dressed for it.
Let “creative destruction” work its magic.
“Yes. The fact that GM, Ford and Chrysler are...”
Statistics (stats).
References.
Not your “the facts...” taken from your recollection and or interpretation of media.
What? Management is not a part of the UAW ever. At least tell the truth. Also, I have to run but there were plenty of GM workers who were Republicans-You are an .... (trying to be nice and not get banned). Who do you think the Reagan Democrats were? They were the working guys-many were union guys. The people I work with are patriots-many were in the military. Some voted for Obama and some for McCain. all love their country. I sincerely hope those of you who have wished ill on fellow American reap the poison you have sown-loss of job, loss of house etc. Oh, those of you employed in the ‘Southern Auto industry’ ( no such thing of course as these are foreign manufacturers), start looking for jobs. Your plants won’t keep the suppliers in business-no parts means no cars can be built. Have a very nice day.
I was unaware that GM, Ford and Chrysler were the only companies building cars either. I am now wondering what make those 2 Hondas (beautifully un-defiled by union auto workers, I must add) in my driveway really are now.
Basically what you are calling for is to kill GM so you can kill the Union thus helping Republicans electorally-what a miserable idea.
Yes, that is exactly what I am calling for. Why is it wrong to stop feeding the beast that is fighting against you?
Especially after the GOP bailed out the banks. This was requested by a Republican president-remember?
You're right. The Wall Street welfare queen bailout really did make a lot of political hay for the GOP. I can't wait for President McCain to get started in January.
Millions will lose their jobs mostly in the Mid West. I promise you, the GOP will lose the Mid West in future presidential elections.
And again, these places voted Democrat even with the GOP supporting the bailout for GM, Ford and Chrysler.
My 51 year old neighbor across the street hung himself in his garage several weeks ago. He had worked for Adelphi for years.
The UAW was more concerned with electing Hussein and the socialists instead of helping your neighbor keep his job. And this is the criminal organization that my taxes are now being made to finance?
I vote for as dumb as a box of rocks. I agree totally with you.
How is what I stated wrong? GM, Ford and Chrysler are indeed the only car companies looking for a bailout. I certainly don't believe that what is common knowledge really needs a factual citation.
You are hopeless and unfortunately completely wrong about everything. Well, this is true Ohio voted with the Dems this year because McCain went to Michigan and said ‘the jobs aren’t coming back’. Can you imagine how they will vote after millions are thrown out of work? If the GOP can not win Ohio, they can not win the White House.
I mention my neighbor so some of you can understand there is a human cost to the manufacturing job losses. The GOP may win a war next week-filibuster, but they will lose the battle in the end. Sadly so will the country. It is in the country’s best interest to have an auto industry.
They should enjoy their cheap foreign toys while they can. The cost of such items is very dear-our country.
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