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Saturday, Dec. 6, 2008 | 2:02 a.m.
I am extremely disappointed in Senate Majority Leader Harry Reid, D-Nev., and House Speaker Nancy Pelosi, D-Calif., for not giving us the leadership to help the U.S. auto industry with its request for a paltry $25 billion loan.
Bush’s tax cut robs the Treasury of $350 billion per year (now over $2 trillion). And a $25 billion loan is peanuts compared with the $700 billion bank bailout. If the U.S. auto industry tanks, we would be in a very serious depression affecting from 2 million to 3.5 million workers’ jobs.
Penny wise and pound foolish.
Mr. Poupard is disappointed because the US didn't just hand over a 'paltry' 25 billion dollars to continue the legacy of the greedy executives and excessive benefits of the auto industry.
There should be strings attached. Several strings. Transform the culture of excessive compensation and rewarding executives no matter their performance.
How about if I perform my job badly and get booted out, and then Mr. Poupard can agitate for a paltry one million dollar bailout for me?
I don't think any corporation who has outsourced American jobs to foreign countries deserves the taxpayers bailout money. The auto industry has already proven they are not here for the American working person.
If the American vehicles that are assembled in America were of better quality, and I stress assembled and quality, maybe the greedy executives wouldn't have their beggar bowls out. I will not pay $12-$30k for a lousy American assembled vehicle. The one I have is a piece of crap. And don't forget it costs more for the hybrid's. The Big 3 made their money on big trucks, now no one is buying those trucks.
IT is sad that what is happening to the economy is slowly spreading to other markets.. but for the automakers to be wanting money to bail them out after they have had many, many years to clean up their act and be competitive in the market is very sad. You did not see the Airlines that went poof running and ask for money or all the ma and pa stores that closed, expecting the gov to help them out. It comes down to greed and that is why we are in this mess. For the Big 3 to live.. there will be concession's from both the big 3 and the unions, or maybe bring back Lee Iaccoca :)
stop using the "american worker" to pull on everyone's heart strings.
the unions got greedy, the companies built POOR QUALITY CARS for years and years.
i never have, and never will, buy an american car. ever.
and this $1.00 in salary p.r. stunt is a joke. the ceo's of these companies made more last year than 99% of the people that keep them in business.
if i made 2 or 3 million dollars last year, i could afford a $1.00 salary this year.
grow up, america. turn off the nascar and the ufc and step down from your trucks with the "tapout" sticker on them.
have you seen how many jobs the newspaper industry is losing? many of those are "american workers" and i don't see the newspaper industry begging for a handout.
I AGREE with every previous poster. I couldn't have expressed my thoughts and feelings better than has already been said. Let em rot.
Placing the word leader with Harry Reid is an oxymoron.
The Detroit carmarkers have already failed.
The bailout, that will include the government calling the shots, will be coup de grace. The government is going to appoint a committe or a car czar to oversee the carmarkers decisions. That will surely put an end to at least 1 or 2 of the carmarkers.
Ford will be the only US based carmarker 10 years from now.
The Government, can't even run the government. Can't run a postal service to success. Can't run anything with great success. Now we are going to expect politicians to run the auto industry. Better that they all close. Toyota and other quality car makers can provide many jobs when they take over the market.
Unfortunately, many in the american auto industry are not quality employees, and cannot find jobs with companies that provide "quality" products. I will not buy an american car... because of poor quality, poor customer service, and lack of integrity in the industry.
Let them fall, like any other business,and someone with integrity may come and buy them out and run them properly!
The poor quality employees making junk cars are just as much to blame, as the high paid worthless executives.