http://www.nytimes.com/2008/11/11/us...11auto.html?hp

I copied a few parts quickly

[QUOTE]WASHINGTON

 

If GM's managers, who have decades of experience in the auto industry, cannot figure out how keep GM's business model operating on a sustainable basis, what makes you think that the US federal government will be able to make the business and spending decisions required to keep them afloat?

Isn't there a politics forum for this kind of post?

Andrew

 

Thats a good question. Is that a yes or no?

Would you let them cave on your watch?

 

reason they're failing is primarily the ridiculous $ they're paying their former employees.

so if we bail them out... they'll just continue to do the same thing.

what do we do?

-let GM die off, along with all their current employees, leaving all their former employees to fend for themselves
-support GM with gov. money in hopes that they'll return to a level of profitability which can actually support their expenditures

i vote #2. i HATE to do it, but i can't think that killing off the US auto industry is going to help anything in our current economic situation.

 

[QUOTE=thebig33tuna,Nov 11 2008, 06:40 AM]

what do we do?

 

This sounds like it should be in the politics forum...

 

No, they could care less if they get part of the $700 billion. They want to increase that amount with their own special stimulus. And who can blame them for wanting to, since so many other companies have been getting freaking handouts for a while now with no-bid contracts and no checks, balances, or regulations to keep them from abusing the system. There's another $140 billion that's being asked for that's not even a part of the $700 or anything that the Big 3 would get that was written.

We are going in the tank because companies are free-loading on American taxpayer money and have gotten it in their heads after years of deregulation and politician greasing that they can keep doing it, and damn the torpedoes if the economy falls apart. At the same time if those businesses collapse, the economy goes south in a hurry because unemployment will skyrocket, and the middle class won't be buying anything. The companies know this beyond their own survival instinct, so they know they can keep asking for and probably getting the money, since the economy collapsing will completely screw nearly all elected officials.

It's gotten so bad even our happy creditors have started having to bail their home markets out too. China just did a nearly $600 billion bail-out. And today we see Wall Street has already dropped around 300 points, and could go lower still.

Anyone else concerned yet?

 

I own gold, silver, and oil. So, no.

 

i remember hearing this thing about how they are thinking to do somthing like
what they did to Chrysler back in 1970's

http://www.time.com/time/magazine/article/...,947356,00.html

im not so much into politics but i found this interesting
that article is really long just get the jist of it

 

I think that perhaps, letting them file bankruptcy would allow them to move away from many of the union restrictions, and allow them to, once again, prosper. I don't know if continuing to feed them cash will help.