$14B auto bailout dies in Senate
Comments
-
If Ford has the money to get it to market that is. If Chrysler and GM go under, Ford will likely fall from the fallout.
I wonder if the opposite would happen. People would see Ford as a stronger, smarter company and abandon GM/Chrysler, thereby going to Ford which would in turn increase their revenues - making them stronger. -
Also remember that the Big 3 are paying BILLIONS every year in pensions. I remember reading somewhere that GM has more resources tied up in pension plans than they do building cars!!!!!
I dont blame the unions for this to a point. Management signed those contracts with the unions because at the time it was working. Now the market simply wont support these contracts but the unions would rather be unemployed then take a pay cut.
I personally think it would be ok for the Big 3 to file bankruptcy. Then they would be free of all the union contracts and could start over and be profitable once again.polkaudio sound quality competitor since 2005
MECA SQ Rookie of the Year 06 ~ MECA State Champ 06,07,08,11 ~ MECA World Finals 2nd place 06,07,08,09
08 Car Audio Nationals 1st ~ 07 N Georgia Nationals 1st ~ 06 Carl Casper Nationals 1st ~ USACi 05 Southeast AutumnFest 1st
polkaudio SR6500 --- polkaudio MM1040 x2 -- Pioneer P99 -- Rockford Fosgate P1000X5D -
I personally think it would be ok for the Big 3 to file bankruptcy. Then they would be free of all the union contracts and could start over and be profitable once again.
I'm not challenging you bro'.;) I'm just pointing out things as I understand it.~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~ -
you know, just t break this down simply? why did we give over 100 billion to AIG but we wont loan 15B to our big 3 ??!
uh....huh ?!?!?!
of course, why the Unions though promising to take a wage/benefit cut, but not at a specified time was gonna fly I'll never know either.
lots of dumb people sitting at these negotiating tables.. :rolleyes:Living Room 2 Channel -
Schiit SYS Passive Pre. Jolida CD player. Songbird streamer. California Audio Labs Sigma II DAC, DIY 300as1/a1 Ice modules Class D amp. LSi15 with MM842 woofer upgrade, Nordost Blue Heaven and Unity interconnects.
Upstairs 2 Channel Rig -
Prometheus Ref. TVC passive pre, SAE A-205 Amp, Wiim pro streamer and Topping E50 DAC, California Audio Labs DX1 CD player, Von Schweikert VR3.5 speakers.
Studio Rig - Scarlett 18i20(Gen3) DAW, Mac Mini, Aiyma A07 Max (BridgedX2), Totem Mites -
The government would take over the pensions that are out now and Im ok with that. That would be a lot cheaper than the 20 billion or whatever it is now. But Congress wants CONTROL of the auto industry thats why theyre doing this.
Its just like the bail out for the financial industry. Rather than pony up nearly a trillion dollars (!!) why not just say "any US citizen with a mortgage, the government is going to give you $200,000." That would be cheaper than 700 billion but then the government wouldnt be in control of anything. Thats what the scariest - there are a lot of businesses out there that the government has interest in and now theyre wanting to take over the auto industry.
THE GOVERNMENT CANT DELIVER THE MAIL!!! For God's sake, how are they going to run the auto industry?!polkaudio sound quality competitor since 2005
MECA SQ Rookie of the Year 06 ~ MECA State Champ 06,07,08,11 ~ MECA World Finals 2nd place 06,07,08,09
08 Car Audio Nationals 1st ~ 07 N Georgia Nationals 1st ~ 06 Carl Casper Nationals 1st ~ USACi 05 Southeast AutumnFest 1st
polkaudio SR6500 --- polkaudio MM1040 x2 -- Pioneer P99 -- Rockford Fosgate P1000X5D -
Taking over the pension plan for 20-30 years until all those entitled to it would rise to far more than 15 billion I'm betting.
I've said this in other threads the big problem with bankruptcy is that someone has to finance it. From what i've heard that would amount to 70-100 billion for all three. In normal times 20-30 groups could be found in a heartbeat to do that. But this ain't normal times. Their are two, maybe three groups that might have the funds to do so, but they won't because it would drain them of capital that they would rather put into several smaller groups. That leaves us taxpayers to fund the bankruptcy. The end result, the gov't sides with management over workers making the gov't anti-worker. That won't happen, the political cost is too great.
The idea of giving everyone a check cashable only at a big three dealership is interesting, but dangerous in the long run. it would solve short term car sales at the expense of long term recovery as two years from now no one would need a car.
Instead, how about giving a $25k gift check to every Iraq/Afghan veteran's family that could be redeemed for a vehicle, for each tour of duty. That would move cars off of lots, make money for dealers, and truly thank our veterans for their service. It wouldn't be enough overall, but it's a start.Review Site_ (((AudioPursuit)))
Founder/Publisher Affordable$$Audio 2006-13.
Former Staff Member TONEAudio
2 Ch. System
Amplifiers: Parasound Halo P6 pre, Vista Audio i34, Peachtree amp500, Adcom GFP-565 GFA-535ii, 545ii, 555ii
Digital: SimAudio HAD230 DAC, iMac 20in/Amarra,
Speakers: Paradigm Performa F75, Magnepan .7, Totem Model 1's, ACI Emerald XL, Celestion Si Stands. Totem Dreamcatcher sub
Analog: Technics SL-J2 w/Pickering 3000D, SimAudio LP5.3 phono pre
Cable/Wires: Cardas, AudioArt, Shunyata Venom 3 -
you know, just t break this down simply? why did we give over 100 billion to AIG but we wont loan 15B to our big 3 ??!
uh....huh ?!?!?!
of course, why the Unions though promising to take a wage/benefit cut, but not at a specified time was gonna fly I'll never know either.
lots of dumb people sitting at these negotiating tables.. :rolleyes:
I wonder why none of the bankers are being requested to accept huge pay cuts........
I wondered the same thing about the UAW pay cuts, until I read that they DID take a huge cut to their benefits, and caps on new hire pay, in re-negotiations in 2007. -
LessisNevermore wrote: »I wonder why none of the bankers are being requested to accept huge pay cuts........
It's a sad day in America. That's for sure. The money trail speaks wonders as to who is corrupt. Everyday we are moving closer and closer to......well, you fill in the blank. :eek:
It ain't pretty either. This is not what Americans have fought for and that's a damn shame.~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~ -
Instead, how about giving a $25k gift check to every Iraq/Afghan veteran's family that could be redeemed for a vehicle, for each tour of duty. That would move cars off of lots, make money for dealers, and truly thank our veterans for their service. It wouldn't be enough overall, but it's a start.~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~