Weigh In: Your Thoughts on the Auto Bailout

I am realy begining to wonder about the american people, You are all willing to just give our country away to all the import companies. I will agree that the Big three had its problems in the past, but they have worked very hard to give the american people what they ask for. Look around how many SUV's do you see on the road. As a matter of fact the number one selling Toyota is the Sequoia (the biggest SUV they sell). I own a Chevy Trailblazer I have had no problems with it at all and average 25 MPG. As for comparing the domestic and import wages, you need to know about the $100 Billion the goverment charges the Big 3 a year for EPA Standars, not the imports, the fact that the imports home countries take care of heath insurance and retirement. I would much rather help the DOMESTIC AUTO COMPANIES then spend over $150 Billion on an insurance company. HOW MUCH MORE OF OUR ONCE GREAT COUNTRY DO WE WANT TO GIVE AWAY TO JAPAN AND CHINA.

NO, NO, NO. No bailout using taxpayer money. The vast majority of the population is opposed to this move. All those in favor of a bailout need to let congress know how much THEY are prepared to invest in THEIR bailout. -- Put your own money on the line. Raise $15 Billion and invest in the companies directly. The majority have spoken -- NO TAX PAYER BAILOUT.

This is an email I got from Rep. Alan Boyd Dear Friends, My top priorities are to grow our economy and protect the taxpayers, and I am not convinced that bailing out the U.S. auto industry will do either of those things. That's why, last night, I voted against legislation that would provide up to $15 billion in short-term bridge loans to aid the U.S. auto industry. However, the Auto Industry Financing and Restructuring Act (HR 7321) did pass in the House of Representatives by a vote of 237 to 170 and now awaits consideration by the Senate. I believe that American capitalism is the greatest economic system in the world, and we have to let the markets work. The U.S. auto industry has been struggling for quite some time, and it’s very clear that they need to make substantive, structural changes so that they can compete in a global economy. Our nation is facing serious economic challenges, and there is a role for the federal government to play in stimulating our economy. However, committing taxpayer dollars to a specific industry without any clear strategy that the money will be put to good use or repaid is not the appropriate role for the federal government. I am hopeful that this economic downturn will result in a renewed interest in Washington to clean up the federal budget and address our long-term fiscal challenges. The first step is for our government to stop spending more than it has and start living within its means. I look forward to working in the next Congress to implement fiscal policies that will put our country back on a path toward economic prosperity for years to come. Sincerely, F. Allen Boyd, Jr. I want to repeat a paragraph... Our nation is facing serious economic challenges, and there is a role for the federal government to play in stimulating our economy. However, committing taxpayer dollars to a specific industry without any clear strategy that the money will be put to good use or repaid is not the appropriate role for the federal government. Given this logic...then I want to know why Rep Boyd voted FOR the 700 Billion Bailout? Fox News I hope you jump all over this.....

I am totally aginst the bailout and have written both of my senators and my representative to strongly express my disdain. The sooner we get rid of all labor unions, the better off this country will be. What I interpret from this blog is that approximately 95% of America is against this bailout. Are the politicians listening and reading? If they are, as a representative of the people, they have no choice but to vote NO! A key question is have all of you written or called your congressional representatives? They are the ones that need to hear this and I doubt that they read this blog.

I just read that this: Ford has spent the last thirty years moving all its factories out of the US , claiming they can't make money paying American wages. TOYOTA has spent the last thirty years building more than a dozen plants inside the US The last quarter's results: TOYOTA makes 4 billion in profits while Ford racked up 9 billion in losses. Ford folks are still scratching their heads, and collecting bonuses... IF THIS WEREN'T SO TRUE IT MIGHT BE FUNNY! George

Thumbs down; Not a proper function of government. Our public household cannot afford to subsidize such private inefficiency.

I will agree to a bailout IF: 1. All C-level managers in the companies tie all of their assets to the future of the company. Even the ones they moved to their friends and relatives for safe keeping. 2. The members of the House and Senate that vote "yea" do the same. 3. The leadership of the UAW involved with these negotiations do the same. If any are unwilling, then they are not asking for a bailout and should not get one.

I know a personal friend that brags about making $140,000 dollars a year retired......you guessed it !! a retired auto worker...please how can they survive paying there white collar retirees that amount..

Judging by the comments posted here all UAW members should be taken out and shot, after all, it's their fault these companies are poorly run. The people who work there in the factories are not the problem, idiot managers are. It is quite apparent management did not reinvest any profits into these aging plants or new products. Where does everyone get this number of 75 dollars an hour? According to the UAW website a assembler makes 29 and skilled tradesmen make 34. Foreign makers don't have the same benefits, they don't have pensions, short & long term disability, dental, vision, basic life insurance, retiree health insurance,& other programs for their workers. These same foreign makers provide the benefits listed above to the workers in their home countries, so why don't they do it here? STOP BASHING UNIONS THEY'RE OUR ONLY VOICE AGAINST MANIPULATIVE CORPORATIONS!

Let the chips fall where they may with the big three. I believe they should file for Chapter 11 like any "insignificant business" seemingly 99% of those out there, will be force to do.The big three is finally becoming aware of the fact that their business is no longer significant to the average concumer. Consumers drive all businesses large and small and obviously the consumer is not standing in line to drive big three auto products. How do you raise a dead horse.

The banks won't give them a loan because they are too risky, investors won't invest in them because they are too risky. But WE are going to give them our tax dollars? This seems like a no-brainer - IT'S TOO RISKY! They will fail anyway!

The Big Three Junkies will be coming back over and over again for another fix.Let them go cold turkey until 1/20/09

They have sold us poor quality vehicles for too long while refusing or draging their feet to go green. LET THEM FAIL!!! They will not get their act together u

If they steal government money (it is stealing if the CONgress is not authorized by the CONstitution to spend money for this) then I will never buy one of their cars again. However, it really doesn't matter since the whole Fiat Paper Federal Reserve Note (not really a Note) Ponzie scam is crumbling and can't be put back together again no matter what they do. Confidence has been lost and the Ponzie scheme is ending as all Ponzie schemes do.

Ford and GM are public traded companies I chose not to invest in them before why should I be forced to invest in them now. Chrysler is a private owned company I could not buy into them when they thought they were worth something why should I invest now that they are broke. I love my Ford truck and I will buy another, if we bail them out I will never buy another new car or truck again, they will be used and non big 3. Let them do it on there own if 2 of them fail we would probably have one strong company in the US, and if folks want cars from outside the US let em buy them. I will stick to my Ford as long as they survive on there own. Ford makes a great machine. The gov would screw up a wet dream keep them out of it..

The UAW, GM, Chrylser, and Ford do not have business models that are competitive in the market. They just don't get it. Michigan needs a auto industry and we should all help by telling these guys to get competitive and quit their dam whining. A good buisness plan could be supported by the public but at this point I don't think these guys have any significant changes in their business models other than to try to wait untill things somehow get better. I had to resize my small business in the Metro Detroit area from 30 employees to 12. In addition to that everybody had to take pay cuts and reduced perks. In my case it was either get lean or go out of business. I had no relief from any governmental agency or sympathy.

NO BAILOUT! Dump the union! If Toyota can make a profit in the same neighborhood as the "big 3" then obviosly they're doing something wrong! Why should other's pay for they're mistake. Audit them; find the problem, & fix it! My first guess would be they're wasting money and their manufacturing outdated cars. We need cars like the Prius and they've done nothing to help the American people. Now they expect us to just hand them cash? I don't think so! Email you Senators (www.senate.gov) Let them know where you stand!

Between the government interference in cafe, safety, environmental and other standards that have been imposed plus the union demands that are out of line with other competitors, it's no wonder they are in the shape they're in. I resent having to support any company that I'm not associated with and feel they would be better served if left to use the banks like any other business would need to do. How does the equal protection clause work if the government decides which ones get assistance and which one's don’t? Whether or not they receive assistance, people will get layer off in the downsizing that will need to take place. Maybe using government contracts for military vehicles would help, but stay within the constitution.

Look, no one wants the auto companies to fail but lets face reality, they are broke. I actualy like GM vehicles. BUT: The CEO's and board of directors are supposed to be smart financial people from the East Coast ivy league schools where most of our politicians come from so why do they need my money in their pocket to resolve this? If the government wants to promote economic growth in the auto industry then they should rescind ALL government safety, enviro & milage mandates and leave them alone to make whatever the public wants to buy. The all have sufficient assets for collatoral to raise money so why don't they? Just File bankrupt and re-organize. isn't that what those laws are for? If we want to insure the death of the US auto industry then give the government more control and keep paying people to sit around and not work. The last number I saw was $2000.00 of every vehicle is used to cover non working union issues. England tried this same thing a few years ago and guess what happened? Rolls still went broke and was bought by a foreign company and REORGANIZED!

Senators Vitter, Shelby, et al, are right on. To throw money at a non-competitive business is a losing proposition. More importantly, remember the 10th amendment to the US Constitution? Propping up non-competitive businesses is not a legitimate function of the US government. Toyota, Honda, etc., seem to be able to compete. Even Ford is not in too bad a condition. Only GM and Chrysler are really collapsing. The nature of the capitalist and free market is that businesses which can't compete must be allowed to fail. Then, those workers who lose their jobs will be able to go to work for one of the more competitive and successful firms. Also, tax dollars given by the people for the purpose of the legitimate functions of government can then be focused on those intended programs (such as national defense, border security, debt reduction, etc.). The US government should stay out of the marketplace. Barney Frank and Chris Dodd have wreaked enough havoc already. We don't need their help any more.

Capitalism WORKS! It's been proven time and time again. Whats happening now is NOT a failure of capitalism but a failure of government. A bailout is only going to increase to an inflation bubble much like the housing bubble. Do you want to be paying $20 bucks for a loaf of bread in 3 yrs? Let the banks and auto makers go down in flames. Will people lose jobs? Yes, Is unemployment going to skyrocket regardless? Yes. This is the cycle that we must endure now. It's going to hurt bad but messing with the mother nature of capitlism has the potential to be FAR MORE DISASTEROUS in the long run to our economy. We need to get back to the days where we actually produced something worth buying. We've become lazy and spoiled as a society and now the awakening is finally here. We need to stop spending and borrowing and start saving. Start producing and manufacturing and then and only then will we get out of this tremendous hole. Throwing bad money after bad money is not the answer. We need to stop listening to these fear mongerers on capital hill and start telling them what to do. This is our country! We need to take it back!!!

Chrysler and GM need the bailout to survive some additional months. Chrysler is only asking for it so GM may still be interested in buying them. GM wouldn't (and couldn't) touch a Chrysler purchase unless the got bailout money. Everyone fails to see that Ford began their turn-around BEFORE the other two manufactures pleaded their case and begged for money. Ford only wants the guarantee of 9 billion IF things get worse, such as one or both of the other manufacturers fail. Politicians will not address the labor union issues because the democrats have been in the UAW's pockets for years. Without "busting" the unions involved, any auto manufacture will always have difficulties being competitive against foreign manufacturers. Period.

concessions by the unions are not concessions at all- merely deferments for later payments! the only way to repair the damage is to can it and start over with a clean slate. the stupid representation we have in Washington is appaulling! they should also be replaced as well as the UAW !

I may have missed something. I heard that $15 Billion would only last until May 2019...........So what happens then? They declare bankruptcy? Then how do they repay the taxpayers if they are bankrupt? Am I the only one thinking that the rest of the world is laughing at the stupity and antics of our US Congress at work? Obviously we are not the capitalists we profess to be..........The wealth that they are sharing is money hard-earned by the taxpayers and they are spending it on the people that put us in this position to begin with. I am sure there must be one or two taxpayers out there tht still has enough money to file a lawsuit. I don't and I am too old. And I didn't even like drinking Kool Aid when I was young. They showed up in the jet?? to beg for money. How embarassing for the US citizens, that it was even a consideration after that. 50 Billion or 750 Billion is not going to make anything better because the lesson has not been learned. Maybe we should put 'In God We Trust' back on the coins! Once again, the government listened to everyone except the ones who mattered. The taxpayers. This is not the U.S. I was raised in. This was/is flagrant in your face theft.

My industry is tied to houseing, mostly the middle and upper end. No one is bailing us out. The businesses that are undercapitilized and did not take care of their customers (Not earning refferals) are going out of business. It is sad, but it is too bad. That is the free market. The government bailout has not helped the banks at all. (I do not buy into the hype)that we have to do it NOW! Does anyone realize that the 700+ billion dollar bailout is the same amount we spent in Iraq over 5years.. (I am not commenting on Iraq) I am commenting on the size of the bank bailout. It got us NO WHERE< And my wife want the Governement to do HEALTHCARE! are you kidding ME. Organized bankrupcy is my thoughts. my thoughts..

Let them fail. They have been in decline for a long time. There will be no end to their demands for more money and in the end all taxpayer money will be lost. We have two excellent car companies in the USA...Honda and Toyota.

Put them into a Gov. controlled chapter 11. It is stupid argument that we would not buy cars from a bankrupt company. They should not receive a dime until chapter 11 has been filed, at which time the Gov. could loan the courts enough capital for their continued operation.

This is no longer the United States of America, it has become the Divided States of Greed and Stupidity! In a "free-market" society supply and demand provides the checks and balances needed to regulate the markets so that free enterprise can flourish and, yes, also die as the market demands. When a U.S. industry, like the automobile industry, can't produce the quality, price competitive, wanted products that our foreign competitors produce then that industry should be allowed to either reinvent itself or die. Bankruptcy is the way you do that. I don't buy the argument that the automobile industry is so much more important than industries like the airlines, railroads, and certainly the millions of small businesses cross this nation who provide 10 times the jobs that the automobile industry provides - GIVE ME A FRIGGIN BREAK! I don't understand why those in the "rust-belt" think they are entitled to take my hard earned dollars away from me and my family just to bail out an industry that is overpriced and extremely lacking in quality. This so-called bailout is not going to fix anything, rather it will only exacerbate an underlying disease. Why don't the auto industry pundits all take a pay decrease down to the same wage levels as those who work in the foreign automobile manufacturing plants in the south? That would certainly help them get through the holidays! When the cotton industry failed in the south we just went to work reinventing ourselves, without whining! Now it's time for the auto industry of the north to do the same!

They've had thirty years to wake up. It's not a question of letting them fail, it's a question of having the common sense to let nature take its course. I thought our free market system was founded on the concept of survival of the fittest, not revival of the fattest.

Let them fail the system has protections built in called Bankrupcy chapter 11 reorganize and stop the payback to the UAW for electing the left wing radical as presiedent. less government not more GIVE ME LIBERTY!!!

I am against the government helping on anything because our government could not find its way out of a paper bag. However, I am concerned about not having US owned large manufacturing plants in the event we are in a big war one day and need the manufacturing capability that they provide. That being said, unless something is done about the unions then loaning this money is a waste as the companies will eventually fail anyway. GM should go into bankruptcy and have to reorganize everything including the worthless workers unions that put them in this mess in the first place. If they fail after bankruptcy then so be in. That still leaves us with 2 auto companies. I would watch the remaining 2 closely and help them with government money only if their failure is eminent and if the unions give up all of their "gravy" benefits. They should be modeled after successful auto companies like Toyota and Honda.

Only a dumb ass would believe that if we don't bail out the big 3, that we would lose 3 million jobs. Read up on "Chapter 11 Bankruptcy", and while your at it, go read the Declaration of Independence. Get the government out of the private sector. If Pelosi, Reid, Dodd and Franks don't stop pushing their "fascist" agenda, we Americans may push back. The four of them have destroyed our children and our grandchildren's financial futures.

Let them fail. They make junky cars. No one wants to buy their junk and no one wants to support bloated union contracts

get real this is a uaw bailout let them file bankruptcy.

Chrysler is run by a hedge fund and should get no taxpayer money. GM and Ford should re-organize under chapter 11 and then they should be able to compete again. US taxpayers should only help cover their R&D costs for new product efficiency and safety improvements.

Let them go down, but only one at a time, not two or more at once. We do need to keep the country going and all three at once would be bad.

Let the auto industry try to manage their way out without taxpayer dollars. I did not see the auto industry sharing profits when business was good with the government. If the auto industry is unable to manage their way out, there is always Chapters 11 and 13. This is the process that has worked for business for the last 75 years. Mismanagement of private business should never be rewarded with taxpayer money!

Survival of the fittest !!! Let the "little" 3 fail. Keep the Govt. out of the way. Let the free market reign. Tax payers should NOT ALLOW the bailout !!! -- E-mails, faxes, phone calls and letters should be directed to every rep. and senator to let them know that a bailout is NOT what the majority wants.

Since it is our money anyway that our government is so happily throwing around why don't you give every american citizen a $50,000 voucher to purchase an american made car. Works for the BIG Three and works for US!!!!

If the desired result is a competitive big three the answer is Chapter 11. This is the only way toward getting their labor costs in reasonable & inline with their Japanese competitors. No tax payer money to perpetuate the UAW & thie over paid workers

When will people get it. 1. Most folks don't got the money to buy, even if there was credit!! 2. The union employees make to much 3. The CEO's and all the company upper mtg folks are over paid. 3. To many gov rules on emmission, and other rules, Over Regulation!!(It Cost)!!! 4. Were a nation of importation and transportation. It will take 20 years to change. 5. Everyone can't drive a little car. (You going to stick UPS in a Honda?) No matter if tax payers help or not. Every thing is not all the Big 3 fault. Example, beef up, and put bigger engines,with higher compression in half ton trucks. This will help over a 20 year period. No the epa won't like it. You will get better mileage and lower cost per truck. People that work for a living are forced to buy a 1 ton truck now, due to over regulations. 30 years ago we could do more with half tons, now were force to go big and expensive. I know, I have watched and work with this since the 60's.

I do not believe in the helping the automakers with a bailout. They need to file bankruptcy under chapter 11 and reorganize, just like any other business in their situation. Also, UAW needs to make a lot more concessions with regard to wages and benefits. Of course, the democrats will continue to vote for a bailout because of all the donations, etc. the UAW have given them in the past, to the UAW it is now pay back time.

Don Moore, I would be happy to purchase American made cars if they weren't such CRAP. From the age of 18, I bought American cars but they were always breaking down...finally I bought a 1986 Chevy Nova (joint venture with Toyota)...that little car NEVER broke down..just regular repairs...battery...tires...brakes...timing belt, etc. When I purchased a new car twelve years later it was a Toyota Corolla because of the experience I had with the Nova...again no problems...and after a driver totalled by car...because of circumstances and interest rates I now own a Pontiac Montana. I bought the car from a bank who had repo'd it. Within 7 days...the hub components were diagnosed as being bad and needing replaced...$500.00 then and over $700.00 more the following month...the bank said I bought as is...the car was a 2006 and had 43,000 miles on it...it was over the mileage by 7,000 miles...GM customer service said so sad...to bad...and come to find out the hub components are on backorder to the tune of about 13,000 or so...no recall though...and the Montana isn't made anymore...wonder why...and customer service refused to give me Rick Wagoner's phone or address...said they didn't know it...I hope the house and senate loose HIS number to...IF the American automobile manufacturers ever make a car that is comparable to a Honda or a Corolla...I'd be delighted to buy it...I'm sure we have the know how...so why do these companies insist on building an inferior product and then expect the American people to bail them out because they fail...a high school graduate could have read the writing on the wall...

I am not in favor of the bailout! I understand, as KenB said, that these are real people. Yes, some of them are my neighbors. But as a taxpayer is makes absolutely NO SENSE to give them a bailout when the market forces will take them down eventually. Also, don't get me started on the regulations these companies face. Government needs to stay out of business!! Jim

This really is not a question...they have already failed. Money now just gets the fat cats running room.

i have a small business i do not see the goverment helping me with money ,fail like they should or should i ask for a bail out........

Why do businesses such as the airlines (ask a pilot what has happened to his/her pay in the past 15 years) and others have to tighten their belts, but the government and their "friends" ie the auto industry, Wall Street, insurance catch a break? The US auto companies can compete if the playing feild is leveled. Unions in this country have been over paid as a residule of past profit making years where management was forced to accept offers to keep operating. The adjustment is long overdue. Let them fold!

No bail out for anybody at any time!!! The country is in this mess because the mortgage system was corrupted by of politics (Community Reinvestment Act). Only the dog-eat-dog world of free market capitalism can force the unproductive to be come productive. It is not the job of the government to be involved in business. If the Federal government has any control over any business, they will make political decisions. Political decisions may not be in the best interest of a company’s viability. If you need proof of that, just examine what happened to countries like the USSR, North Korea, East Germany, etc…

Let them fail and every other business that does not make it on their own. That is the American way. Businesses fail everyday and are replaced by stronger companies.

Also if they went under wouldn't the remaining car manufacturing in the US pick up the slack. Hiring more workers, leasing more property, selling more cars? Now yes it would not be all the slack but a pretty big part.