Headline News!

[roadwarrior]

Reports of a bipartisan deal to address the auto mess:

http://www.foxnews.com/story/0,2933,455407,00.html

[Siebert Outdoors]

IF these guys fall or just one of them do you think it will lead to a depression?

[BUCKEYEone]

The way things are going right now...who knows!  It is not just the big 3 that are hurting, either.  As of right now I have a father, step-father, brother, and a cousin working at Honda in Ohio...they just got word today that they will get an extra-special two weeks off for christmas...yikes.

[roadwarrior]

IF these guys fall or just one of them do you think it will lead to a depression?

Bankruptcy doesn't mean the business stops, look at the airlines.

The Big Three cannot compete and therefore cannot survive with

their current business platform. It's that simple.

Without meaningful and specific targets, money spent to keep

them afloat is wasted. Individually and as a group, they must

tell the American public how they intend to be profitable going

forward. As Catt says, "If you keep doing what you've done,

you'll get what ya got!"

[Siebert Outdoors]

As Catt says, "If you keep doing what you've done,

you'll get what ya got!"

Very simple words with a very deep truth. Good line.

I agree with you. The big 3 have needed to evaluate what Toyata and a few others have been doing for over a decade. I guess now it is really showing all the flaws amd miss management.

I read the other day price per labor hr with the big 3 was around 70 dollars per employee. toyota and a few others were below 50 per employee.

[Redlinerobert]

Agree 1000%.

They need to file bankruptcy and redo their gameplan. It is that simple. Taking the bailout money and staying the course will surely cause them to go under eventually. On our dime.

I think it's hilarious that the the top three Sent their CEO's to Capital Hill to ask for the bailout...in their private jets! ;D

[Grey Wolf]

In the long run the best for everybody would be them filing a chapter 11.

[BrianinMD]

Problem is with bankruptcy to recover they would need credit loans to keep in business. Not exactly easily to come by right now

[-HAWK-]

This is a Sad day. This is not how capitalism is supposed to work but whatever. I really think bankruptcy would have been a better path for them to take. Big Mistake!! >

[roadwarrior]

No bailout, at least not today:

http://www.foxnews.com/story/0,2933,455407,00.html

[Siebert Outdoors]

If they dont have a plan I think it was good that they said NO.

[Grey Wolf]

This should be interesting to see what the big 3 will bring back to Washington on the 2nd.

[Dan:]

I think it's hilarious that the the top three Sent their CEO's to Capital Hill to ask for the bailout...in their private jets! ;D

I saw the clip of that congressman asking them about that and it was hilarious.

[Daniel My Brother]

Any bailout now would just be a temporary fix.

I'm also in favor of a chapter 11 reorganization. Let them start over with the unions, restructure management, and eliminate lines that aren't profitable.

Only after reorganization would a large federal loan not seem like such a bad investment.

Flying your private jets to Washington DC to beg for taxpayer dollars? Priceless.

[slomoe]

I think it's hilarious that the the top three Sent their CEO's to Capital Hill to ask for the bailout...in their private jets! ;D

I saw the clip of that congressman asking them about that and it was hilarious.

I saw that too.

"Don't you guys think you could've downgraded to first class?"  ;D

[Siebert Outdoors]

Flying your private jets to Washington DC to beg for taxpayer dollars? Priceless.

Sell off those jets and get rid of the CEO's and right there would be millions of dollars.  1 guy 1 plane.  I just saved them tons and tons of money!   ;D

[roadwarrior]

How 'bout this:

For $1MM per year, five year no cut and $10MM bonus if the ojective is reached...

I guaranteed I can bankrupt any comapny in the world.

I don't need $30MM a year and $100MM severance,

I'll do it for $15MM all in!

[tyrius.]

I read Mitt Romney's OpEd in the Times regarding this and find that I agree with him.

Any bailout money should be used as Debtor in Possession financing (if no other money is available) and to guarantee warranties on the new cars.  

This will allow the car companies the benefits of shedding a lot of their inefficiencies while keeping the consumer confident in the purchase of a new car.

[Tin]

Let them all go under.

[frogtog]

They don't need no bail out, let them tighten their belts like we have to do. They have about priced their selves out of business now. anyone that is in business knows that you have to have a savings account to put a little money aside for hard times. Whats so bad is when they start cutting back the dummies always start at the bottom and work up when the should be starting at the top and working down.

And whats so bad is they are trying to get a country to bail them out that is already broke, we are living off of foreign countries now. :'(

[Maxximus Redneckus]

They don't need no bail out, let them tighten their belts like we have to do. They have about priced their selves out of business now. anyone that is in business knows that you have to have a savings account to put a little money aside for hard times. Whats so bad is when they start cutting back the dummies always start at the bottom and work up when the should be starting at the top and working down.

And whats so bad is they are trying to get a country to bail them out that is already broke, we are living off of foreign countries now. :'(

exactly  i could go on BIG TIME but aint doin so all i can say is what about schools that need better teachers more student input ,,,and not to mention people losing there houses each and everyday <<these peope dont need billions of dollars just a few thousand to keep what they will lose GIVE to us the tax payers we are the ones who run the country anyhow i say we all stop paying taxes in 2009 dont file or send um shyt if they bailout anyone else and wont lend a family a few grand to START over they dont deserve shyt  can you amagine the IRS in chaos if all poeple didnt pay taxes in 2009 show um we run this joint not them

[-HAWK-]

http://www.forbes.com/afxnewslimited/feeds/afx/2008/11/21/afx5727440.html

Priceless!!! ;D ;D

[Infidel.]

I think they are being screwed from top to bottom.  UAW is just as much to blame if not more so than the executives.  5 years ago they couldn't compete in the compact car market because their labor rates were just too high, so the executives made the smart decision to focus on what makes them money, trucks and suv's.  That was the only choice they had, shut down the unprofitable lines and focus on what makes you money.  But of course the media and their amazing hindsight doesn't think so.  Let them all go down and start over.

By the way, does anyone know what the Japanese auto maker executives make?  I haven't had the time to look it up.

[Siebert Outdoors]

How 'bout this:

For $1MM per year, five year no cut and $10MM bonus if the ojective is reached...

I guaranteed I can bankrupt any comapny in the world.

I don't need $30MM a year and $100MM severance,

I'll do it for $15MM all in!

RW,  I hate to under cut you but I'll do it for 2 million.  I bet I could bankrupt one faster then you!

I am in agreeance with some of you guys.  Start at the top and chop.  Fire everyone in upper management and execs.  Restructure.  That is the only way I would back a bailout. No severance pays no nothing.  They get a pink slip that says "Good luck in you future, dont let the door hit ya in the butt on the way out"

I did notice they are getting rid of 2 of their 7 jets.  If your about ready to go bankrupt wouldnt you get rid of all 7?  With this kind of crap I keep hearing like this, I say let them go under.  They are not willing to change so why bail them out?  You are responsible for your future.  Accept responsibility.

[moby bass]

I can't believe the automakers actually want to go into "partnership" with the government.  The automakers really ought to be saying to the gov't, "get off our backs and let us do what we do best"   IMHO, gov't isn't the solution, its the problem, in more than just the auto industry.  Of course, I've seen some of the new designs that have been dreamed up.  Someone had too many anchovy pizzas and pickles before they went to bed.  Small wonder they don't sell.  ;D