I don't see Honda, Toyota, Mercedes or any auto mfg asking for a bailout...


Dear Everett Chan,

You made the right choice when you put your confidence in General Motors, and we appreciate your past support. I want to assure you that we are making our best vehicles ever, and we have exciting plans for the future. But we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The U.S. economy is at a crossroads due to the worldwide credit crisis, and all Americans are feeling the effects of the worst economic downturn in 75 years. Despite our successful efforts to restructure, reduce costs and enhance liquidity, U.S. auto sales rely on access to credit, which is all but frozen through traditional channels.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

 

reminds me of how european airplane manufacturers receive help for their govt to compete with american airplane mfcs. but now its american car companies asking for money to help compete with mostly japanese imports

 

Anyone know of how we can do the opposite? Perhaps access the same submission system they are leveraging but allow us to write our own letter?

It makes me sick to my stomach that our government is even considering bailing out the "Big 3" who have done nothing but perpetuate big oil's hold on America in the past. Add to that the fact that they have shown a distinct unwillingness to compete and improve the quality of their products to match their competitors and the whole thing is just disgusting.

If you don't adapt your business model to the demands of your customers and the economic conditions around you, your business deserves to die.

I do feel for all of the workers who would be affected by the Big 3 going under, but at some point we have to let the market correct and stop bailing out badly run businesses. We will have to weather rough times, but the market (and our country) will be better for it.

 

Shouldn't this go in Car Talk? Regardless, its an interesting read.

 

FYI (and anyone else who feels strongly about this). I simply when to the house site and got the info for my representative then sent them my own letter.

Needless to say it didn't echo GM's call to action

 

I don't think we should bail them out...

They ran themselves in the ground! They make some horrible cars!

 

They ignore the fact that what production they lose, others will have to pick up. Ultimately, the jobs aren't lost, though the incomes will certainly drop.

No UAW, anyone?

Not saying they shouldn't be bailed out, just that they're leaving a few things unsaid.

 

i read something that avoiding the bailout and letting them into chapter 11 the previous iron clad contracts could be altered. get rid of the uaw, cut wages in half rather then send all the jobs to mexico, lower compensations packages, lower pensions, eliminate unemployed compensation, etc...

 

The Big Three ran themselves to the ground. They finally began thinking about vehicles that would sip gas instead of guzzle it when the sales of imported hybrids began sky-rocketing the past 2-3 years. I'm not saying they shouldn't be bailed out but the fact that our economy is already suffering pretty badly makes me wonder if a bail out of three car manufacturers is really a bright idea.