Automaker failure = depression?

[mct601]

Do what?

http://news.yahoo.com/s/ap/20081203/ap_on_bi_ge/meltdown_autos

Jim Press, Chrysler's vice chairman, said the U.S. automakers were "down to months left," as industry officials ratcheted up a fierce lobbying push to persuade Congress to approve as much as $34 billion in emergency aid.

"We're on the brink with the U.S. auto manufacturing industry," Press told The Associated Press in an interview. "If we have a catastrophic failure of one of these car companies, in this tender environment for the economy, it's a huge blow. It could trigger a depression."

Last I heard, if they filed bankruptcy they would be sold off and that would be it. Funny how the analysis comes from a Chrysler VP. More fearmongering for the liberals?

 

[dzelenka]

There are millions of jobs at stake. You really need to examine the trickle down effect. The auto industry touches every aspect of the US economy. On top of that you need to consider the effect the loss of manufacturing capacity has on national security. The most likely buyer that I have heard mentioned is the Chinese. I am thinking that would not be in our best interest. JMHO

Dan

 

[mct601]

Hmm, you have a point. Didn't think about that.

 

[nikolai]

There are millions of jobs at stake. You really need to examine the trickle down effect.

This just made me think. Isn't it ironic how Republicans are big proponents of the trickle down effect when it comes to taking money from large companies, but not when you give it to them?....

 

[Jimmy Dean]

Can anyone say CHAPTER 11 ?????

possible then you would lose a minimum number of jobs, no selling off, and they could ditch that damn UAW contract.

 

[mct601]

Can anyone say CHAPTER 11 ?????

possible then you would lose a minimum number of jobs, no selling off, and they could ditch that damn UAW contract.

That's what I had heard.

 

[dzelenka]

Can anyone say CHAPTER 11 ?????

possible then you would lose a minimum number of jobs, no selling off, and they could ditch that damn UAW contract.

And their cars would become impossible to sell.

 

[dawg23]

And their cars would become impossible to sell.

Which is pretty much the case now.

 

[jimdana1942]

There are millions of jobs at stake. You really need to examine the trickle down effect. The auto industry touches every aspect of the US economy. On top of that you need to consider the effect the loss of manufacturing capacity has on national security. The most likely buyer that I have heard mentioned is the Chinese. I am thinking that would not be in our best interest. JMHO

Dan

Maybe the Chinese would quit making cars and make more ESS-KAY-ESSES. At least they sell!

 

[CajunTim]

The sales of vehicles makes up about 20% of Louisiana's sales tax revenue.

Just saying take it for what it's worth.

 

[posse comatosis]

Why is it so God Almighty important to save factory jobs paying over $80 per hour? That just does not resonate with the average taxpayer in America anymore. The Dept. of Defense can secure and preserve what manufacturing facilities and engineering expertise it needs to preserve in the interest of national defense and to hell with the rest of it. Saving the Big Three is an exercise in futility. Othere manufacturers will fill the void in time.

 

[LAYNFRM]

there is no reason for the factory workers to be making $70+ per hour IMO. they're just one of the reasons cars cost so much, and that the companies are going under. the over-paid CEO's and big wigs are some of the other reasons. it's friggin rediculous.

 

[mcinfantry]

There are millions of jobs at stake. You really need to examine the trickle down effect. The auto industry touches every aspect of the US economy. On top of that you need to consider the effect the loss of manufacturing capacity has on national security. The most likely buyer that I have heard mentioned is the Chinese. I am thinking that would not be in our best interest. JMHO

Dan

i dont care. LETS GO DEPRESSION. im not for saving ****. im dead serious. let the strong survive. why should i save anyones job???? lets re-structure!

 

[Swampy]

In a free market economy if you cant make an item worth selling or at a price someone is willing to pay.. You go out of business Period.... End of sentence... I dont care if you have 2 employees or 200 million....

If we do a bail out who owns them automakers????? Prolly still the chinese ....

I didnt bankrupt the company's I dont want to bail them out... They agreed to the ******** that the unions are shoving down their throats ... If they cant afford it... BREAK THE UNION.... Its as simple as that... Hell hire welfare labor and illegal imigrants for $6 an hour with no benifits and no overtime...


Then lower the price on the crappy cars they are trying to sell...

If the Chinese buy them out ...maybe we can get a decent car.....

 

[mcinfantry]

DETROIT — United Auto Workers President Ron Gettelfinger said Wednesday that the union is willing to change its contract and will delay billions of dollars in payments to a union-run health care trust in an effort to help the struggling Detroit Three automakers.

Gettelfinger also said the union will modify the jobs bank, in which laid-off workers are paid up to 95 percent of their salaries while not working, but he did not give specifics.

UAW can GO TO HELL

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

 

[CajunTim]

Yeah I'm not a fan of the Union

 

[Swampy]

They have to kiss my ass before they go to hell....

 

[CajunTim]

Can I tea bag'em?

 

[mct601]

Either way, I hate how the guys in D.C. is raping our free enterprise system by bailing out all these industries. I'm surprised this hasn't convinced every industry to outspend its revenue and go under to get government handouts.

 

[penguin]

I sent an e-mail to the LA delegates. The US government should offer up to $5k in instant rebates and the manuf should offer up to $3k (in addition to any other rebates) to a person who wants to buy/trade in for a new car. It would be broken down into tiers; Tier 1 is someone who wants to trade in a V8 or bigger for a hybrid (or 35+ mpg) V6 or less. They would get the full rebate amount. Tier 2 would be for people who want to trade in a V8 or bigger for another hybrid V8. They would get a smaller rebate. Tier 3 would be those who want to buy a new Hybrid or high mileage car w/o trade in. They would get a different rebate. The tiers could be broken up better, but you get the idea. Trade in a gas guzzler for a more fuel efficient car and you'll get a deal. The dealers will move cars, the credit market might start to open (no change in credit worthiness factors), people could get new cars, the US would start stretching the oil dollar by putting more fuel efficient cars on the road, environmental concerns would be addressed with said cars and jobs would stay or be increased to build the more fuel efficient cars. I would make this contingent upon ANY kind of federal assistance that would be offered to the big 3. Just an idea. Hell, I'd trade my Jeep for an additional 5k off of an Escalade Hybrid.