Approved Auto Bailout Details: $17.4 billion

$13.4 billion now, $4 billion later, and a big problem handed off to the next President

GM Chrysler logos bailout approved

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Comments (10)

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afterace2

what about Ford?

December 19, 2008 1:46 pm

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joelynn

state ownership.... bail it out if the government can have control and profits go back to the country... thats the answer

December 19, 2008 1:54 pm

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1 reply

howe2002

Yeah, that's actually a bad idea. The U.S. Gov't is corupt enough, they shouldn't get control of the auto industry at all. Nothing would ever get done. It would take longer to bring out new models and technology because of lengthy red tape processes. The U.S. is owned by large profit corporations, they can do nothing but ruin it worse than it already is. Check out 'Zeitgeist', it may shed some light on U.S. Gov't policies.

December 20, 2008 10:35 pm

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genie

Ford haven't asked for any of the funds, given their current cash position, they can survive at least another 1 - 2 years on their current cash burn rate and so don't need a bailout. However, no doubt they will be pine-ing for the same concessions that the UAW will have to give GM and Chrysler.

December 19, 2008 2:11 pm

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dmanero

well it looks like the unions bulling payoff yet again

December 19, 2008 2:37 pm

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Nurchus

Bloody bollux on all of it. Maybe I should make a Yank car company, give in to labor unions, have poor marketing strategy, make horrid cars, and probably I could get money too. BAH!! Not the America of yesteryears. For shame, America, for shame.

December 19, 2008 3:26 pm

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500lbman

Hey Union Employees - Wake up! Your Union Boss is making a living off of your hard earned salary. If you are getting paid a similar wage to the Foreign auto makers employees, but it is costing the company you work for far more than it costs the foreign company, where do you think the money is going??? INTO YOUR UNION BOSS' BANK ACCOUNT! They are not fighting for your future, they are fightinG for THEIR futures. WAKE UP. GET OUT OF THE 1930'S AND INTO THE MODERN WORKFORCE.

December 19, 2008 3:30 pm

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1 reply

Joe_Limon

I didn't know that european auto employees averaged $73 an hour after bonuses... average includes/included janitors since the unions forced the companies not to farm out those jobs.

December 19, 2008 3:39 pm

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gmfan09

Anybody who did not know this was going to happen is either completely naive, completely biased (most who post here fit this category), or just completely ignorant as to how the US Government operates and what kinds of decisions they make. Any person educated about the US government would know that they are not going to just let and entire industry like the auto industry go away.

December 21, 2008 12:08 am

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I have lost my job (twice) at Ford (@ Europe). They say they'll call me back as soon as something comes up, but who knows? :(

December 22, 2008 9:21 pm

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