The Big Three have shot themselves in the foot. Mainly by the fault of the greedy people who work there (executives and unions, you are both to blame). The executive bonuses, for doing what? Helping send the companies down the drain! The union job bank (basically union members still get their wages even if they are not actually working) what a joke! All you are to blame.
The execs needed acountability and the unions need to negotiate and realize they can no longer be paying assembly linemen big wages in a dying industry. The United Auto Workers president Ron Gettelfinger stated today that they will not give up anymore concessions! This is unacceptable and the UAW expect my tax dollars to pay their wages! I'm sure the federal government will ask for concessions from the executives of the Big Three and will get them. So the unions should give concessions as well.
The Japanese, Korean and European carmarkers are only surviving because they don't have the same regulations working against them that the Big 3 have, notably unionization. Let them all declare bankruptcy and kick the un-productive management and union out. Then the strong will survive. We do not need government meddling anymore in paying the wages of private industry. This is ludicrious and not what this country was founded on. The buyouts, the exec bonuses need to all cease now! You want to save your industry with tax dollars!
My father owned his own auto repair shop in Detroit, MI for 20 years and never had any benefits and never made more than 60K a year. He owns a house here in Michigan and a house in Colorado in the mountains (which is where my parents live now and where I grew up) and several investment properties. He never made much and was smart with his money, and that is responsible. If he only had a $100k buyout he could make it into a million in 5 years.
This all comes down to fiscal responsibilty, to which I have noticed in my time here in MI is quite lacking here. Most of you seem to blame all your problems on others, (I ought to know my business has picked up with union workers who are far behind on their taxes).
Take responsibilty for your own actions and move on. Let the Big 3 file bankruptcy and leave my tax dollars out of it.
God be with us all!
Terry
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I agree! we have to get away from this "too big to fail" mentality. If we want to be a capitalist society then we need to practice Capitalism!!! Let the strong survive or better yet maybe merge the Big 3 into the Big 1 and then pool their resources to compete against the foreign made auto makers.
A bailout forestalls the inevitable and does not help the Big Three. Rather, Chapter 11 bankruptcy and reorganization would be beneficial. It would allow them to shed the union contracts, close down poor product lines, streamline management and productions processes and retool their companies to make fuel efficient vehicles.
Bill Richards
http://soundoffamericaforum.blogspot.com/
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