The Hern

Automaker Bailout Fails: This Is Not Good

I am glad the vote failed and unhappy that the president decided to use some of the bailout money to help the auto industry. Where does it end? We can't keep bailing out companies that put themselves under. All we will do is give them money now and they won't change their money wasting ways and just ask for more money in '09. One of the main problems of the auto industry is the money owed to retirees as well as the high salaries and benefit programs of present employees. Why should I and 80% of the population have to pay for these workers who have more in pay and benefits than we have? That is so unfair and is the kind of thing that causes revolts. Its time for these high benefits to end and if the union doesn't want to give in, then they will be out of work. If they go bankrupt, what it means is Chaper 11 and all that is, is reorganization. Only some people will lose their jobs and they won't close at all. They'll just restructure and come back a better company than they are now. The biggest problem in the auto industry and most of the big American firms is the unbeleivable CEO pay and bonuses. One auto head, Mr. Nardelli, got over $100 million severage package from his past employer, Home Depot and now we're all supposed to feel sorry for him? Please, once the begging ends and they get their money, they'll be back on their private jets for a vacation that none of us can even dream of. The time for this to change is NOW!