AMERICAblog: Possible deal to salvage auto industry
bill__free
· 11 months ago
Off Topic: Isn't it odd that prosecutors have no problem convicting everyday people of crimes when they have evidence, but turn into buffoons when prosecuting political hacks? Seems like cases get thrown out due to intentional errors by the prosecutors. Is it just me?
RevDrBillyBob
· 11 months ago
The money is never going to be paid back. And the top management parasites are going to find a way to take it for themselves. This is masquerading as a "loan" ... but it's a giveaway. It's no surprise that Pelosi is backing this lie; backing lies is one of the things she does best (and, needless to say, she is not alone): The Wimpocrats at work.
Bostonian_Queer_in_Dallas
· 11 months ago
It is time for a national tax strike.
tbhull
· 11 months ago
Is anyone really that surprised? Everyone knew this would happen. The neverending government corporate give away of tomorrow's individual income tax dollars that will be 50% or more. By the way, when was the last time Congress ever refused a bill of $10 billion or more for corporate interests? The commissions are just too juicy. Government spending cures all ills, failed banks, corrupt insurance companies and old poorly ran car companies.
aquarius2
· 11 months ago
The auto makers DO NOT LEARN and bailing them out isn't going to help. Chrysler is a perfect example. They were bailed out in 1979 and here they are again asking for bailout. Many of you do not remember that Chrysler was on the verge of bankruptcy in 1979 and was bailed out by the Feds. Did it help them, obviously not because 30 years later and billions of dollars in CEO pockets they are at it again. Foreign cars swept the market with lower gas mileage and longevity (they lasted longer than the car payments) but did US auto take heed NO!
I don't want to see millions out of work BUT what about my financial outlook? Am I, as a taxpayer, going to have to keep paying taxes so that big companies can keep operating. Again, take a look at this article about Chrysler and tell me that bailing out the auto industry is a good idea.
Oh and that dollar a year salary proposed by one auto exec--Check out myth #4 in the above link. Yep, they got a dollar a year and then within two years ALL salary was restored INCLUDING making up the lost salary.
Michael
· 11 months ago
Yes I do remember the 1 billion loan to Chrysler in 1979. It was actually repaid early and we, the tax payers, earned over 300 million in interest.
aquarius2
· 11 months ago
You didn't read the article
Eric
· 11 months ago
Yes, I've heard that argument, too. Imagine if they hadn't been given the bailout. They might have adjusted their strategy so that they'd be a good, viable car company instead of the destitute, begging losers they are now. Let their assets get liquidated so that a more intelligent entity can buy them up and make cars any of us would want to drive.
The chinese don't have an auto industry yet; maybe they'll do a better job.
Indigo
· 11 months ago
It's turning into a very third world dilemma. Do we save jobs or do we focus on developing fuel-efficiency? Making it seem like there's no money to do both sounds more like a scam than a fact but I'm concerned that the discussion is drifting in that direction. Lovely as it is to develop fuel-efficiency and to restore the ecological balance, population control is essential and employment for the existing population is absolutely mandatory. Setting up either/or standards can deepen the crisis and certainly does not help. Can Mrs. Pelosi understand that? I have my doubts.
Bostonian_Queer_in_Dallas
· 11 months ago
I am furious about this shit. These assholes have been sending us 12 mpg Kaiser tanks (Hummers) and NOTHING as a fuel efficient vehicle. Let them drop fucking dead right now. James Dyson of the famous vacuums is developing an electric car that gets literally 500 miles on one charge but has a small gas engine for one hour emergency charges. He could put several thousand of these on the road in a year. He's dumped ALL of his potential CEO profits into the R+D on this. GM deliberately killed their EV1 which was a really great little electric because their goddamn fucking golfing buddies from Exxon and Chevron told them that this would threaten their goddamned profits. Fuck Detroit. The air is shit, the earth is going to die and we are gonna bail them out like this? Fuck you GOP and fuck you Dems.
Bostonian_Queer_in_Dallas
· 11 months ago
If you have never rented "Who Killed the Electric Car?", do so. These rich white assholes running the big auto companies are making sure that we consume just enough oil to keep their friends happy at Exxon and Chevron. Look up Boards of Directors: Ford sits on Exxon who sits on GM who sits on Chevron who sits on Chrysler. This little str8 white Protestant boys club is our REAL government, not Congress or the WH. This story is making my angina kick in today.
Freddie
· 11 months ago
What's it with these Dem "leaders"? Every time Bush pushes them up against the wall and orders them to blow him, they first say "no" then blow him. That Bush guy, such power of persuasion. I'll bet he's been doing it all his life, school playground included. And millionaire Dems? What does he hold over them that they just can't ever say "no" and mean it.
tbhull
· 11 months ago
They are all the same. One party, two faces peddling the same old shit and siphoning off/stealing taxpayer dollars for their corporate masters. If you are an individual taxpayer just admit it, your are a sucker slave for these interests and it does not matter if you call yourself a dem or repub.
Ben Dover
· 11 months ago
I would only support a bailout if each and every last penny were used to manufacture and deliver a viable electric vehicle that is capable of meeting today's transportation needs.
Older_Wiser
· 11 months ago
Well, at least what the Big 3 is requesting is but a drop in the bucket to what Paulson has given his buddies in banking...that's the one that really pissed me off.
nogo postal
· 11 months ago
Assault and battery?...a relative of mine in CA back in the 90's drove a GM electric car...it got me thinkin' during the auto stuff...in one of those circumstantial sequences I came across this at Brad's place...be sure to read the comments...
I just have a question. How does the Congress OR the Auto Industry actually believe this bailout will solve anything? They could give them $1 Trillion dollars to rescue them, so they could produce all of these fuel efficient cars, but if the American People don't have the money (and we don't!) to buy the cars, what does it solve?
Eric
· 11 months ago
It solves the immediate demands of the Auto Industry's upper management and the demands of the unions. All are overpaid, but at least they'll get their money no matter what happens to their business. Capitalism is tough; better to be in bed with government than to actually do anything useful for society.
cobra
· 11 months ago
it is sickining that the ball less idiots in Washington is going use tax dollars to bail out a losing deal. They will be back in six or nine months for some more.
marco wetering
· 11 months ago
So the big 3, or rather Small 3 (sorry), want to make us believe we have to buy electrics (Volt) in the near future for the US car industry to survive? As long as the oil big companies are not involved in this energy transition this is not going to happen. Besides, we, do not have the money to buy any new thing and consumers are then not going to buy any conventional gas car. If the industry has to abide by congress' wishes for cars, consumers are not going to buy them anyways. 1st thing would be to make imports impossible for foreign cars is what congress can do and second invest on a big scale on having the car industry engineer, build and deploy rapid transit systems in cities and all across the US. That would benefit both tax payers and the industry. Big investments are needed in a smartroad mass transit system, with for example individual coaches (cars) that could travel independedly as well as together in mass. The US has a rich history of car industry and they have to make a transition in a changing world.
j. mckinley
· 11 months ago
give auto companies the loans they need ,but on condition that all outsourceing be reversed and a tarrif be placed on all cars not built in us. this would offset the cost of the loan
All Comments
Isn't it odd that prosecutors have no problem convicting everyday people of crimes when they have evidence, but turn into buffoons when prosecuting political hacks? Seems like cases get thrown out due to intentional errors by the prosecutors.
Is it just me?
I don't want to see millions out of work BUT what about my financial outlook? Am I, as a taxpayer, going to have to keep paying taxes so that big companies can keep operating. Again, take a look at this article about Chrysler and tell me that bailing out the auto industry is a good idea.
http://www.heritage.org/research/regulation/bg2...
The chinese don't have an auto industry yet; maybe they'll do a better job.
http://www.bradblog.com/?p=6725
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