Auto Bailout, yea or nea?

[Eric5273]

Originally Posted by motordavid

I'm looking for the link that ref'd the Oldsmobile dlr toss a few years ago,
but the point is there are huge costs involved in shutting down this
plethora of GM, et al stlrs, as the state(s) laws impose considerabel fines/
buyouts on that kind of franchise dlr. Not defending them keeping the gillion
stlrs they have, just reminding that it's a boat load of dough to cancel them.

And, when they pare down a third or more of the dlrs, those people that
worked there don't simply show up as Starbucks barristas or working at
the local Jiffy Lube...if GM goes BK or worse, bust, there will be a considerable
impact beyone the line workers, the engineers, the staff idiots, etc. Sometimes,
I think some of you think it's akin to closing the local malt shop in terms of "easiness"
or, little impact.

I agree. But I'll say it again: if you are in favor of having a "free market", then that includes the prospect of a business failing. If we are to give money to every major corporation who is in danger, but ignore the small businesses who are in danger, then aren't we advocating socialism for the rich, but capitalism for the middle-class and poor?

[Wagner]

Shame it had to get to this point before the UAW would do what was right.

http://www.foxnews.com/story/0,2933,461145,00.html

[X5Flyboy]

NAY! same thing happened to all the breweries in NYC area - the unions got too fat and killed the golden goose. the old model hasn't worked since the Japanese started making better quality than USA manufacturers

[motordavid]

Originally Posted by Eric5273

I agree. But I'll say it again: if you are in favor of having a "free market", then that includes the prospect of a business failing. ...

Eric, I don't recall banging the drum for a "free mkt". What econ, money & banking and biz courses
I took a long time ago, combined with what I read these days, convinces me that we/the US or world,
aren't exactly operating in a "free mkt".

I am not defending the Ol'General or Ford or Chrysler, but when I read posts that suggest they can all
fold up like 5 buck card tables and "go away", it seems slightly naive, imo.

[LeMansX5]

Originally Posted by Wagner

Shame it had to get to this point before the UAW would do what was right.

http://www.foxnews.com/story/0,2933,461145,00.html

....laid-off workers are paid up to 95 percent of their salaries while not working............
I got this for Mr. Gettelfinger

[Eric5273]

Originally Posted by motordavid

Eric, I don't recall banging the drum for a "free mkt". What econ, money & banking and biz courses
I took a long time ago, combined with what I read these days, convinces me that we/the US or world,
aren't exactly operating in a "free mkt".

I am not defending the Ol'General or Ford or Chrysler, but when I read posts that suggest they can all
fold up like 5 buck card tables and "go away", it seems slightly naive, imo.

I didn't mean to accuse you personally. I was saying that to everyone. It seems that most of the people on this board support the "free market". I would agree with you that we have not been operating on a free market since 1913 when the Federal Reserve system was first created.

IMO we are seeing the failure of capitalism here. Unfortunately, I don't think there is anything that can be done to prevent the complete colapse of our economic system. These bailout packages will just delay the inevitable. They are an attempt by some to milk the sysem for every last dime before it colapses completely. To give an analogy, the management are out using the company card to buy lavish things, fully knowing that tomorrow the company will go belly up and nobody will have to pay the bill. That is what corporate America is doing, with the help of the politicians whose campaigns they have funded for many years.

[Wagner]

Originally Posted by LeMansX5

....laid-off workers are paid up to 95 percent of their salaries while not working............
I got this for Mr. Gettelfinger

Exactly. They had no problem leaching off the corporation, now they will get burned..sadly..it is far long after they killed their host

[E61Silver]

Did you see that GM drove to DC in a Chevy Hybrid.

[LeMansX5]

He drove in Volt test mule

[AzX5]

The Bush administration has offered to accelerate the payment of some $25bn in green investment credits already allocated to the car industry, but this has been opposed by Democrats in the House of Representatives.

http://news.bbc.co.uk/2/hi/business/7765586.stm