Auto Bailout DE-NIED

[kthx]

No Bailout for auto makers from the Senate, discuss. Personally I am very very happy about this, hopefully the government can deal with the terrible crying from these companies as they die out and are replaced by stronger companies who aren't having to deal with terrible unions raping them in the ass. Even if foreign companies buy them out they will still hire American workers, it isn't like they are going to tear down the old factories and build their own and bring in their own blue class workers. So the whiny ass union workers aren't going to get paid for doing jack shit again, good riddance.

[Hercules]

What a sad day.. let us just keep all our foreign auto makers and forget the guys who really started the automobile business. However on the bright side, to increase sales I see electric cars coming out now which in turn is good for the consumer. It will be devastating to the economy though, that is for sure.. That is a lot of jobs.

[Liquid Blue]

I still think they're going to get money somehow

if you look at CNN right now Bush is thinking about giving them some of the money set aside for wall street

[kthx]

Herc, two things needed to happen, firstly the union needed to be busted because they were getting paid an unfair amount of money to do nothing, secondly these auto makers needed to make cars that people wanted to buy. Seeing as neither of these things happened the only recourse is to let them go under only to be recreated or bought out by companies who won't be taken advantage of by a union, and will create cars that people will like. Giving out money to a failing business model doesn't fix anything, it just prolongs it for a few months and also just sets the road for future bailouts. Basically they need to stop the bleeding before they sew up the industry or it is just throwing money down the drain.

But yeah LB I do hear that they are going to be getting some money anyways from the Market Bailout. I mean since that was an epic fail they might as well waste more of it.

[Witness]

they have too.

They cant let them fail it would affect to many people in this country and in other countries. Just think if Gm went under, How many other jobs that are not under gm control would be affected. They say for every 1 gm job, it employs 8 other people from differnet companys around the world. Plus how about those people who are retired out of gm.. It's a bad deal , and its about time they get there heads out of there asses and produce us cars & trucks that get 100miles to a gallon. I just wish other countries would chip in as well, gm is not just in america anymore.

[Liquid Blue]

a little under 2 million jobs would be directly affected in America alone if the big 3 went down

but they're asking for what, 14 billion to last them until March? Seriously? Fuck that shit, how much are they going to ask once march rolls around?

[Squeezer]

a little under 2 million jobs would be directly affected in America alone if the big 3 went down

but they're asking for what, 14 billion to last them until March? Seriously? Fuck that shit, how much are they going to ask once march rolls around?

Exactly. The line needed to be drawn before the last bailout. It's a shitty situation and the taxpayer is going to be screwed in the end either way. I'd rather brace my ass for impact now and take less student aid because of all the new welfare recipients than give the Big 3 auto companies a shitton of money to fail in a few months and leave those people out of a job anyway.

They kept making hummers and SUVs when it was clear that it was no longer a smart investment. Each company fired major front office officials and gave them huge payoffs to leave. Their salaries, along with many other professional spheres, have jumped in proportion to the workforce. The writing was on the wall for a long time and they kept producing the same massive trucks and inefficient gas guzzlers. I have no remorse for the Big three because they couldn't compete with smarter, more intuitive Asian and European companies that have managed to sell cars like hot cakes. They should have paid more attention to the American consumers.

Then again there's the UAW has a lot to do with this. When your basic factory worker earns as much as the average first year lawyer, something isn't quite right.

[Liquid Blue]

yea the reason it got denied was because the UAW refused to cooperate

[paradise!]

Why are you saying there won't be a bailout? both parties reached an agreement but the Union refused to accept tax cuts. They will continue talks after. What is this nonsense of no bailout. It's just back to square one.

[kthx]

The senate actually denied the bailout because the unions wouldn't accept less pay.

Hence bailout failed.

They are talking about having to get money from the wall street bailout package.

Hence big 3 bailout failed.

[TagMor]

Personally I am very very happy about this, hopefully the government can deal with the terrible crying from these companies as they die out and are replaced by stronger companies

reminds me of a spaceship game i play.

[Izor]

ok, so like i said in every other thread its the same people that DONT believe in trickle down economics that now want to bail out these automakers. And they want to do this because, by giving those companies 14B, they can prolong the inevitable for another 3 months. Does anyone here understand who's paying for that band-aid fix? Does anyone TRULY understand that THEY are paying for this? I dont think so. Maybe instead of worrying so much about the common idiot you'll realize that being so harsh on companies and 'redistributing' is going to put us in these holes in the first place. Now, as far as the big 3 go, when they die and come back they'll lose a lot of the baggage that is slowing them down right now. This will be a painful time for our country, and we'll have to adjust our spending habits/lifestyles, but we will get through it with hard work like we have in the past. A band-aid fix will only prolong what is going to happen

[Lucon]

Instead of fretting about the common man, we need to worry about the companies!

You must be great at parties.

[MetalHeadz]

No Bailout for auto makers from the Senate, discuss. Personally I am very very happy about this, hopefully the government can deal with the terrible crying from these companies as they die out and are replaced by (China). Even if foreign companies buy them out they will still hire American workers (but the profits made will not be redistributed throughout domestic (American) markets), it isn't like they are going to tear down the old factories and build their own and bring in their own blue class workers (although this would be one of the few examples of where foreign investment would only be beneficial to the economy). So the whiny ass union workers aren't going to get paid for doing jack shit again, good riddance (Hurray! Not only are foreign businesses taking all the proceeds and spending them outside of the US, but our workers rights and wages will also fall causing a decline in dispensable income - confidence - demand - consumption and GDP growth). I'm sound on the basic premises that underpin political economics and I should definitely make more threads, because I know what I'm talking about.

...

[Izor]

how can you defend the workers for these places..its like the least skilled work you could ever do...if the extent of your skill set is making sure a car gets assembled properly you might as well just expect to never have a steady job. I understand that this is not much different from what I do back at home station (basically nothing) but I can and do deploy to provide a useful service to this country and a trained monkey cant do my job. Also, back in the days that unions mattered, there werent the same laws that are in place today that ensure workers have adequate working conditions. When I see the unions come into work and take mandatory "15 minute" breaks every hour, I just think what a fucking waste it is for the government to be spending money on them. If/when these companies go bankrupt, they WILL come back, and they WILL make more profit because they wont have so much overhead, and with that money they'll produce better cars further down the line. Like I said, its a long process because that kind of change wont happen overnight

How can you defend a bailout when all it does is make the problem go away for a couple months. The problem is still there.