Bush not ready yet to act on auto bailout
The President told reporters aboard Air Force One that a bailout for GM and Chrysler was not yet ready
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Comments (10)
Looks like the gradual Porsche evolution was the winning strategy afterall. Goodbye GM
December 15, 2008 12:28 pm
evolution... is a slow process, I much prefer the term stagnation when it comes to an industry that changes as fast as the automotive industry.
December 15, 2008 3:55 pm
yeah if he hadnt spent 600billion dollars on a fake war then maybe he could have helped them. in fact they should sue the governemnt for mispending cash!
December 15, 2008 12:50 pm
It is not about spending what money on what. And be aware that the current administration across the pond will be spending MUCH more on programs you Yanks will not need and increasing the deficit ten fold with your "protectionism" ideology.
The problem is not even going to be remotely solved with this bailout. I gaurantee it. They are further in debt as it is and have already admitted they will need much more money to be on their feet again.
Plus think further about this, if they get the bailout, the airline industry and whatever else will be right behind them. If you Yanks would stop speaking ill of your corporations (the places that provide jobs and living) you'd be surprised at how many more jobs will be around.
December 15, 2008 1:29 pm
GIVE them the money damn it... $700 billion vs. $15 Billion. Is the congress and now the president being penny wise pound foolish?
December 15, 2008 1:44 pm
If it weren't for the greedy Unions, this would not be a problem. American Labor Unions are FOR-PROFIT organizations. They take the dues from the workers and do everything they can to avoid paying the pensions. They are allowed, by law, to say anything they want to in order to push workers into joining the union whether it is tru or not.
The only way to kill the union is to kill the company. Unions negotiate wages based in tenure, not performance. What motivation does the American wokrer have to do their best at work. Sound like communism to anyone?
December 15, 2008 2:56 pm
Agreed. Bankruptcy will be the best thing that can happen to the Yank companies. It will also leverage their side against the UAW.
And to the uneducated stating to give them money, read about the Bankruptcy laws. You'll notice that they can be blessings in disguise.
My eye is on you, car-o-bar, for the previous paragraph I just wrote in this post.
December 15, 2008 3:43 pm
As soon as i read that GM wants to keep the buick nameplate, i knew they were doomed. do u know anyone under the age of 60 who who owns a buick or wouyld even think about buying one.
December 15, 2008 5:19 pm
you know for some reason the Chineese love Buicks just as much as Tiger does!That is reason enough to keep them around for the largest emerging market, as far as I am concerned that wioll probably be the last brand standing from the GM clusterfuck...
December 15, 2008 8:15 pm
Big 3 are definitely screwed. And most people don't seem to realize it's not entirely due to the crisis. It's mainly to the fact that they've been making hideous, gas-guzzling, vehicles that last only a few years before they become ramshackles. I mean, come on, some European industries lost more sales this year than the Big 3, but the Europeans and Japanese car makers aren't crying and begging in Uncle Sam's lap for cash.
Big 3 have been losing sales since people heard of ever-lasting Toyotas and VW sedans that outperform those heavy-ass, disgusting Chargers in every way. The Big 3 and the US economy were doomed to suffer greatly since about a decade ago. The crisis just made it a bit worse.
Congratulations Big 3, because for making hideous cars all these many years, and treating CEOs like kings, now hundreds of thousands of honest, hard-working people will lose their jobs.
December 16, 2008 2:39 am









