To Makesense:

Reasons to Bail Out GM

You're absolutely right!!!!!!!

Reasons to Bail Out GM

On Nov 12 04:17 PM katec wrote:

> goanywhere your are right on!! To start with, what I have heard in
> the past weeks about people who work at GM....are paid those type
> of wages and do nothing when they get to the job!! Wow! The world
> must be laughing at us! Why do we not just give them a loan....charge
> an interest rate, then they can pay the government back like Chrysler
> did????

You "HEARD"? Do you believe everything you hear? LOL.. He said, she said. Get a mind of your own please.

Reasons to Bail Out GM

On Nov 12 04:35 PM Retired Investor wrote:

> The reasons to bailout out Detroit is that Detroit has been struggling
> for decades with high labor, healthcare and pension costs. Detroit's
> pensions are grossly underfunded. Should the automakers fail, the
> US government and US Taxpayers will be on the hook for billions to
> pay the lush pensions and retirement healthcare benefits of the autoworker.
>
>
> The big problem will be convincing the american who was just let
> go from his minimum wage paying job at Best Buy, (retail workers
> are 10% of the american workforce) to support the bailout plan, by
> convincing the average american:
> a. Why It is better for the USA economy to rescue a UAW workers job
> (70 per hour in total costs, appx 34 per hour in wages), rather than
> a retail-workers job.
> b. Why it is better for the government to support the lavish pensions
> of the UAW worker (when the average american chump has no pension
> and has just seen his 401K plummet by 30+ percent)
> c. Why it is better for the american government to pay for the lavish
> healthcare benefits of UAW workers and retirees (when 25% of americans
> have NO health insurance)

I take it you're a retired investor. Were you one of the day traders? If so, you are one of the economies problems. Sitting at home on your computer all day moving stocks around so you can gain millions of dollars while everyone else is at work, doing physical labor. Then you come on here and talk about the lavish pensions, and healthcare of others? How dare you. I think every American should make a decent living and have decent healthcare. There is nothing lavish or overbloated that the uaw gets. It's what every american should get. But, because of all the foreign competition they let come into our country and the jobs they let go overseas, most americans are forced to work 2-3 min wage jobs just to get buy. Why hate the ones that are making a decent living? Yes, the big 3 are in trouble. Why? Because of the investors, and the Japanese and CEO's yearly OVER inflated pay. Yes, they should make more than the line workers, but NO they should NOT be getting 22 million a year. Not at this time. Not until they make some profits again. And by the way-Toyota and Honda pay their employees VERY well. They just have not been around long enough to have the pensions coming out yet. But, the day is coming and let's see how they do then. I'm sure their costs will be going WAY up.....

Reasons to Bail Out GM

On Nov 12 03:12 PM tridog wrote:

> I think NOT bailing out GM will help KEEP people employed there.
> Right now, they are laying off engineers, while keeping people in
> the 'jobs bank'. If they go Chapter 11 - people keep on working,
> they keep on getting paid. But, the courts will impose new contracts
> on the union. This will cut costs, make GM more competitive, and
> SAVE jobs in the long run. Bailing them out does not fix the underlying
> trouble - it simply prolongs the agony. This happened to the airlines
> - it should happen to the automakers too.
I think the big 3 SHOULD be bailed out. Alot of this trouble stems back to the foreign competiton from which Nafta came. It is an unequal system. They tax our cars way more going into their country than our country taxes their imports into our country. The Uaw has agreed to MANY cuts in wages(new hires at 14.00), outside contractors now do cleaning making 14.00 an hour, they have helped eliminate many jobs on line. $14.00 an hour isn't enough to support a family let alone purchase a car, home, provide college education for their children. The Uaw has made sacrifices. They only want the people to make a decent living without struggling like every American should.
They need to tax license plates for import cars about $800 a year which would help create jobs. It would fix our roads, thereby creating construction jobs for reparis of the roads. The taxes made from the foreign car license tax could also help the schools which are constantly struggling also and it would HOPEFULLY help change the minds of Americans to drive domestic autos which would create many jobs. Jobs paying a decent wage, not overpaid jobs, just jobs making a decent wage with the thought of having a pension after working for so many years.
The CEO's should take a huge cut in pay at least until they start making a profit. The Uaw has made sacrifices, they should too.
The big 3 also spends big $ for processing engineers to eliminate the people that are building their products. They need to "lay them off" across the board. At least temporarily until they start making a profit and this alone would save the big 3 billions of dollars.
Finally, the big 3 then needs to regain consumer confidence which I feel was starting to happen until the market crisis took place. Now, people are in fear of losing their jobs and are not purchasing anything, let alone an automobile. Ford has proven that they have now gained level ground with Toyota in quality, if not slightly more.