Question:
Isn't that a slap to the face of the American Tax payers for GM/Ford to ask for bailouts while...?
Mac
2008-11-19 13:08:04 UTC
they arrive to Washington D.C in private jets? It costs them 20k for a r/t flight. Plus they have a fleet of 8 of these jets. Why don't they just take first class ticket if they are in dire straights for money? They want 25 Billion dollars and they are flying luxury? Doesn't that some how seem like a slap to the face for the tax payers that don't have these luxuries?
Thirteen answers:
2008-11-19 13:21:52 UTC
In my opinion, they don't deserve to be bailed out. Their cars are still, after many years of competition, still inferior to Toyota and Honda. Too many recalls. Look at consumer reports and see all the "black balls" on many of them year after year. And on major components. Some are good, but not as many that should be after all these years of competing with Japan.



Maybe instead of looking at sky high wages, perks & high pensions, they should build cars that embarrass the Japanese cars. That quality would bail them out, and keep them in the profit margin.
Miah
2008-11-19 13:23:33 UTC
From their perspective it's not that big a deal. They already own the private jets and they believe without the bailout money they are asking for the company will go under. Looking at the big picture, spending 20k on a flight is nothing. Most of the anger over it is caused by news people just making a story.



I don't personally think they should get the "bailout," (me being bitter after driving some of their cars) but worrying about their flight cost is really small and insignificant at this point.
ebey
2016-11-03 05:55:52 UTC
Agreed yet this is the way it works. yet I observed this exciting difficulty however that style of made experience. It replaced into from Russel Crowe... definite the actor. No genius by skill of any skill yet nevertheless it gave me concept. the US government will spend $seven hundred million for the bailout. while all is declared and achieved it relatively is going to be billions. There are approximately 360 million individuals so could it no longer be far greater comparatively much less costly to furnish each criminal guy, women folk and new child $a million,000,000 tax unfastened? people could purchase vehicles assisting the motor vehicle makers. people could spend some paying for in spite of which might help retailers. Many could make investments which might help the banks. some could pay off their residing house or purchase on which might help the very own loan bankers. people who in no way have been waiting to return and forth could be waiting to realize this. which might earnings different international places tourism upload inflow of greenbacks. the US foreign places money replace fee could pass up. The checklist is limitless. i'm no fan of illegals. yet even they could earnings from people renovating the residing house, doing landscaping and all. this is a separate difficulty It won't take place yet I had a "howdy wait" 2nd.
Billy Cooke
2008-11-19 14:23:14 UTC
Before any assistance should offered to either of the three they should show what they have done to correct the problem. We should treat them like our parents used to treat us in that we make them show proof of things being done.



For them to go in front of that committee and speak of the loss of jobs and plant closures just shows the one sided mentality. With the change in times the way we allow things to happen have to change.



Therefore these companies should be made to take care of the employees they let go. Instead of the government picking up the tab in unemployment it should be the companies job. Hopefully that put a fire under them to fix whatever short comings they may have.



If not not only did we the tax payers bail them out we also have to pick up the unemployment tab. Ultimately it comes down to the haves and the have not's.
Blacksky
2008-11-19 13:42:05 UTC
More like a kick in the a**!! Why should taxpayers pay anything to FOR PROFIT companies? They make money and like any other business-there will be bad years for which the profits will not be good-aren't companies supposed to be prepared for such an event-especially when we're speaking of companies with tons of profits that have been in business for decades?

Where's my bailout? My husband and I run a tiny business that just started seeing a profit when the economy fell and so did our profits-right now we're lucky to meet ends and that's only with MAJOR shrimping-we haven't been in business all that long and just started seeing a profit so-no we didn't have the funds yet for such an event (like major corporate companies should)-where's our bailout?!
2008-11-19 13:34:18 UTC
The government boneheads started this by bailing out the banks. Of course all the other corporations who own the government will show up with their hands out. And all the people who were mad about the first bailout, went to the polls and re-elected the politicians who voted for the first bail out. So this crap is our own fault. We need to over throw the democrat and republican parties. Until we do, we deserve this.
2008-11-19 13:17:27 UTC
I know!! This whole bailout thing is ruining our country's economy, then they ask for more?! Yeah they're freaking millionaires, but what about us?! The majority of the country that has to put up with this BS because somepeople were greedy/ unorganized? And they still don't understand! They're just afraid they'll lose their million dollar pay checks. TCH
Honest Opinion
2008-11-19 13:17:54 UTC
It's not like the large Oil Companies fly coach to Washington to pick up their checks.



I don't like it but all corporations do it. Including he big investment banks we just bailed out.
2008-11-19 14:04:45 UTC
Someone asked why not give the US Citizens the bail out. I personally think it is possible to do so. However,not with just a hand out of $1million dollars. We are seeing the down side to giving Hand outs and the abuse it causes by what's happening on Wall Street. And now this ridiculas GM/FORD private jet fiasco.



The way this could work would be by giving credits not a lump cash sum. And it would be for US Citizens over the age of 18 not living overseas unless they are in the armed forces or working for a government agency and they must not be in Jail or have a Prior Felony history. At the start of the credit system, there would be a 2 year moratorium on price increases for anything purchased in the USA. This will create a two fold which I'll get into later. The first draw the Citizen shall take wil be for housing. If they have an existing Mortgage, the moratorium shall state they must pay off their mortgage and stay in the home for at least 2 yrs or if they HAVE to move, they can only purchase a home of equal value. If the Citizen just lost their home to foreclosure, then they can take their credit and purchase a home at the same value as their home they lost to foreclosure. (if the home hasn't been sold by the bank, they must buy back their home from the bank) If they do not own a home and are renting, they can purchase a home equal to the value that their income level would have allowed + $100,000.00. Or what a Mortgae payment would have been equal to their rent amount + $500.00. (which ever is the lesser of the two) This will stop everyone from going out and buying homes way over what they normally would have been able to afford without the hand out. And the 2 yr moratorium on moving stands for everyone to insure that price gougeing will not take place. The 2nd draw is to pay off bad debt. Bad debt would be any medical bills, judgements, liens,repossessions, credit card debt. Then the 3rd draw would be to pay off their car. If their car is already paid off, or over 10 yrs old, they can purchase a new car of equal or comparative value at todays standards. In otherwords, If you own a Honda Accord, you can't go out and buy a Brand New Cadillac Escalade. I think you can see where I'm going with this. The credit you take out isn't to overextend, rather get you out of debt and stay in the lifestyle you are in and can afford without being strapped by mortgage, rent, car payments and bad debt. After all these credits are obtained, your employment can be evaluated. If you have lost your job, you can take a credit to go to school to reeducate yourself. If you are currently employed, the 2 yr moratorium stands. You stay employed so as not to disrupt the balance of everyone all of a sudden wanting to be Stock Brokers or MD's and no one wants to work at a retail store as a cashier. And hopefully after these 2 yrs, the economy will be back to an even keel that more jobs will be available so those out of work, or in school can obtain a decent job with decent pay. The 4th draw will be to create a retirement account. One that cannot be touched until the age of 65. The 5th draw will be to create a college fund for your child/children that cannot be used for anything but college.

The 6th draw will be to purchase health insurance. The credit will be extended for 2 yrs - giving you enough time to incorporate the payment into your budget, or hopefully have employer coverage by the 2 yr date. If you already have health insurance, you are exempt from this credit.

Once everyone has a home, a car, bad debt paid off, health insurance, retirement funds, and college funds. Their credit is cut off. It's up to them to figure out how to keep from getting into overextended situations in the future. They can either overextend themselves again and suffer the consequences, or be responsible and happy living within their means. This has been a tough 2-4 yrs for many. And I think if given this kind of opportunity - many will be content with their lifestyle and set goals and levels of success in steps, rather than with irresponsibile behaviour.

Will this take monitoring? Sure it will. But that would be an excellent new job creation scenario. Every State, Ever city would have monitoring auditors if you will. They would receive the credit withdrawl application, someone would have to contact a title company who in turn contacts the mortgage company, bank, car loan officer, 401 K, college fund, health insurance..the jobs are endless. They will need more employees, more jobs for the US, and buildng a stronger economy.

As for the two fold on the price increase moratorium. If things are bought in the US, this will stop price gougeing from our own US retailers. And deter overseas importers from overcharging us too. Because if the US can't increase their prices, they they sure aren't going to buy from overseas at a higher price.

So i'm not an economist. But I think if somone looked at the logic of this idea and did their professional examination, review and put it into a real program - It would work fantastically. For the Americans, for wall street, for the auto makers, and for the Economy.



Thanks for listening.
Joel R
2008-11-19 13:13:10 UTC
The CEO's that went to Washington cannot solve the problem, they are part of it. The three dinosaurs (GM, Ford, Chrysler) are dying because of the management, and unionized labor. They deserve nothing.
Spacekitty
2008-11-19 13:19:57 UTC
technically they are asking for a bridge loan, not a bailout.



and come on, you can't expect a CEO to fly commercial! LOL just kidding, yes that does sort of chap my hide.
2008-11-19 13:14:01 UTC
it's a slap that everyone wants money yes,just like the banks holding billions to pay out christmas bonuses and yet asking for money,where's the Revolution
2008-11-19 13:21:04 UTC
I hope you did not expect them to drive up there in their American build cars, do you?


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