The Next Industry Looking for a Handout

Cheryl I do belive America can and will produce the best cars in the World. But right now the Big Three are run by crooks that do not believe in energy efficiency or saftey. A bailout w/ more low interest loans should not be an acceptable answer. I think the management should get a wage more in line with the rest of the country and quit blaiming the unions! I drive Volvo, even though FORD owns them.

It's just like the novel "Atlas Shrugged". We reward companies with a handout specifically for being inefficient. We tax companies heavily specifically for being efficient. We deserve the coming collapse.

If this is a free market country they should fail!!!!!!!!!!!!!!simply can not hand out to these imbeciles money that will lose anyway because of their cost structure. simply put if they can not compete they should fail!!!!!!!!!!!!! Not my money!!!!!!!!!!!stop corporate welfare!!!!!!!!!!!!!

lets tariff the japanese cars and parts the way they tariff ours, maybe then the big 3 won't need a loan.

Question is this: when did these corporate welfare handouts first started? How long has the goverment being doing this? Now has Ceasar of the Roman Republic would've done this for any of parts of the Republic? Just a look at history little. People have gotten fed up with the handouts for sure. Oh Cheryl it was nice to see you on Happy Hour last night. I would've bought u and GOGO drinks at the Bulls and Bears. U should do more Happy Hour.

I want American companies to succeed like anyone else, but I believe Detroit has had their chance. They chose to start focusing on SUVs in the late 1980's, because they were almost as cheap as trucks to build, and could be sold for far more than cars. Being a petrol head, I own Japanese and Swedish cars, because (in my humble opinion) they are safer, more fuel efficient, and built better than their American counterparts. Ironically, both vehicles' makers are partly owned by 2 of the big 3. As it stands now, I don't want my tax money going to more companies. The big 3 can trim down and play smart like the rest of the nation. Even if any of them fold, there may still be plenty of jobs at the European and Asian auto factories, who seem to be thriving in the U.S.

Cheryl my thoughts on this "corporate welfare" thing is that if an individual can't run their financial lives in the black the government doesn't bail out these people. So why should they bail out these corporations that have been mismanaged cooking their books etc... Now I'm not saying their aren't other factors like rising fuel costs, the weak dollar a lot of these problems with these corporations has culminated over a long period of dicey management issues and poor financial decisions,and shortsidedness of the big picture. Anyway nice attempt on the sports analogy regarding the DNC on today's show if you want to get together and go over the finer points of sports feel free to e-mail me planetrick@hotmail.com

It is not Government's duty, obligation, or role to bailout a company in this country. Tell the Automakers to review the Constitution and tell the American People exactly where in this document it says they should get a bailout. Let market competition (price and quality) drive the end result. If non-American automakers can build a very fuel efficient car today, so should the Big 3 or they should fail. The simplest solution for the Big 3 is to buy the engine and drivetrains from their competitors until they can produce their own quality engine (acceleration, power, and high fuel mileage). BTW: I drive a 2008 foreign mid-size SUV (AWD) that delivers over 28 mpg city and at least 36 mpg hwy (have had it as high as 40 mpg hwy) - why is it that the Big 3 is still in the hi-teens and low-twenties???? No creativity or laziness???? The only strategy I would even consider would be the suspension of federal taxes on the Big 3 for 3 years with a definitive sunset clause. Let them use this capital to invest in technology and solutions that are available today. The Big 3 management and union labor must learn Business 101 rule: Survive, Grow or DIE!!!

Our goverment has a way of getting involved where it should not and not involved where it should. First and foremost, businesses should be allowed to grow, remain the same or go out of business on their own accord. It should not be the goverment's responsiblity to intervene. That said the goverment should have tariffs on products coming into this country from companies which are supported by their on goverment. Our tax laws should be changed to foster growth in jobs and technologies. The goverment has been a large portion of the problem. The bale out of the mortgage business, will I beleive be the biggest blunder yet. Companies along with individuals need to learn that responsiblity has it's rewards. If you are responsible and honest then you can survive. If you are not you will not survive. The goverment is not the answer. Our founding fathers did not mean for our congress to be made up of professional politicians, they knew that if this happened it would lead to a very corrupt goverment. We need to limit the time a person can be in congress.

Let the Big three go broke, Never thought I'd be saying that -- but if they did not see this coming, they do not deserve to be in business, that's reality. They are soooo far in the rears on gas milage and energy technology there is no hope. They should be having a party introducing 40mpg cars and a cool selection electric vehicles. Capitalism punishes those who make bad business decision, thats why America has always prospered -- governments handouts [the peoples money] is not the answer.

As a retiree of one of the "Big 3" I think one basic question is being overlooked. Do we need them? Where will we turn in an emergency needing basic manufacturing ability in case of national stress? Toyota, Nissan, VW, BMW?? No way. They do not belong to the USA. They love our money, but they are not loyal to us. We need the national automotive companies, marginal there with Chrysler being privately owned, but they are who we will depend on just like in WWI and WWII. Losing our automotive companies puts us at great risk. Sure, they have made mistakes and I have no tolerance for their constant appeasement of the UAW, but we need to look at the bigger picture and make sure they are there for us. And by the way, Government needs to stay out of the business of "designing" cars and trucks. This is why we are messed up today. Big brother is bad for these companies for they have contributed in large part to the demise of the very companies they are to care for and protect. Let's keep them solvent. It is for our own security.

Does anyone remember the bailout of Chrysler???Who put that onetogether???---Ron

NO HANDOUTS, NO LOANS, THESE GUYS GET GREAT PAY,GREAT PERKS,GREAT PENSIONS FOR DOING GREAT DUMB THINGS.YEARS AGO THEY SHOULD HAVE BEEN LOOKING INTO GREAT MILEAGE CARS BUT WERE TO GREEDY.

Blame management and the unions--you bet. However, it is a tough industry: ever more ambitious safety reqmts (read more weight and/or lighter, more expensive materials) militate against CAFE; CAFE improvements require additional costs and/or smaller vehicles. So far the American consumer has been unwilling to accept smaller veh's or to pay for CAFE improvements (the europeans pay an extra $2000/veh for improved powertrains and electronics). If it's a gov't loan to the "Big 3" (no longer quite so "Big"), or bankruptcy, which do you prefer? Note: I agree with you that we're heading toward a gov't run economy and that that won't work any better here than it did in the U.S.S.R.--or here during the Great Depression.

Can anyone please tell me when a government subsidy or low interest loan to a failing industry ever helped? Anyone? Keeping these people in business is a crime. Economies work best when resources from failing businesses are redistributed to succeeding ones. Taking the assets from the failed businesses and giving them to businesses that are more efficient makes the economy as a whole more efficient, and therefore profitable. The Japanese banking failure demonstrates this. Instead of allowing those banks to fail and be reorganized in a more efficient manner, the government propped them up, and they have limped on ever since. If we keep propping up failing businesses like this, we will ensure that the resources available are not being used most efficiently, and the economy as a whole will suffer.

Absolutely not, let them fail or let another company buy them out. Stop using my tax money to finance companies that can run themselves worth a crap. I was looking for a new vehicle back in March and you could not find a hybrid on any lot, unless it was expensive one like the Highlander. This lead me to wonder why GM is shuttering 5 plants instead of turning them into hybrid plants. The longer the government artificially props up these various segments of the markets, the harder is going to be when it eventually corrects itself. Let them fail!

I blame the US auto maker debacle on three groups: marketing: we don't need six brands and one chassis. We don't need cash rebates which help decrease resale values. Engineers: the interior of domestic cars are horrible, especially with GM. UAW: men and women make $60k or more to drive cars off the assembly line and out into the parking lot. They do this in shorts and tennis shoes during the summer. Can you imagine a valet making $60k per year? The tips would be $20 instead of $3. None of us would do this. Same set of talents. They have negotiated themselves right out of their own jobs. They have negotiated themselves of long term security with pension and retiree health care. I think union employees are awesome people and I could not/would not do their tedious job. They do a great job with what they have to work with. Their leadership has failed them. Their engineers and marketing/sales groups have failed them. Long story short... the engineers and marketing/sales groups got themselves into this trouble by being arrogant and not wanting to change. Non-union employees at Toyota are more satisfied, get to work with better designs, and have more pride about the product they make. For me, I am a Toyota guy and will not change for the foreseeable future. No bailout for the two groups of people that have failed miserably year after year with no one else to blame but themselves. Of course, senior executives get the final blame, but that's an forgone conclusion.

Cheryl, I have no problem with low interest loans. My tax dollars are squandered in far worse ways than this. If they go belly up, costs to society will be much greater. Certainly, we should hold their feet to the fire with regard to fuel efficiency, CEO pay and fair treatment of the workforce. This industry has given far more to our country over the years than what these loans will cost. The road ahead is tough, but I think that is where American companies do their best work. We should provide reasonable support towards that effort. John

I am extremely tired of corporate welfare. If these companies can't produce and are not smart enough to move with the times they should not receive anything from the taxpayer. This is becoming an epidemic...companies failing due to greed, bad decisions, ineffeciency etc. The government(taxpayers)should not foot the bill!! Steve Linder Atlanta

Cheryl: First of all, the US is bankrupt…we have no money. I am a capitalist and that says we must allow for failure. The market determines who succeed or fails. Good companies will win and bad companies will lose. It is really that simple. The financial buyout of failed institutions is a national disgrace that paves the way for others looking for a free meal. We have become a nation of whiners lined up at the public trough looking for handouts from someone else. Why do the American car companies need a handout when energy efficient cars are already being produced here? Of course, I refer to Honda, Toyota and Nissan. How can these guys produce excellent cars without handouts? I’ll tell you how. They did not enter into lousy contracts with union labor.

While you were in Europe CC I've been winning the battle of offshore drilling. A lot of us have. Not just here in these fox blogs but on other forums as well. But the fuel effiencet argument is correct on all accounts too. Problem with politicians of both parties they give grand speeches but don't present solutions. When it comes to the public sector they try to copy the private sector on problem solving issues,reorganizations and in the end the private sector idea that works for that corporation or corporations doesn't work in a public sector beaurocracy. Congress has lower approval rating than the president and there the ones in need of a serious top down management review. Also Speaker Pelosi has generated protestors whereever she went becouse of her stance against energy and the fact she has now angered her Catholic Church. Several Archbishops have spoken out on her already. What does a ceo do with troublesome VP? fires him or regulates him to the back office. In Speaker Pelosi case she needs to be fired in the board room of the Trump tower and her job duties severally reavulated. Publicly she comes off as an airhead,Tip O'Neil was smarter than she is. Did you know that Tip O'Neil let former Rep Charlie Wilson go to Afghanistan to help out the rebels? I learned that from Charlie's Wilson War. It would be better if Pelosi was regulated to the basement of the Russel bldg along with several behaving bad Democrats who think they know everything.