A pox on both houses — Ford’s and UAW’s. They deserve extinction like the dinosaurs they are. I’m never buying another domestic car, designed by companies who leave off safety features if they cost a penny extra, and which are built by overpaid and pampered jerks. Quality is Job Eight or Nine.

Oh, and don’t get me going about GM. I owned a Vega. ‘Nuf said.

A response to this debacle I read today says it all I think,

“This “bailout” is in essence forcing every taxpayer to buy a Ford/Chev/Dodge without the added burden of having to provide them with an actual vehicle.”

Jim708 on November 20, 2008 at 10:11 AM

That’s what I’ve been saying. A bailout should come in the form of a new vehicle for every taxpaying household or something. Isn’t that the whole point of this mess? They couldn’t sell cars, right? So the bail-out (not loan. we know it will never get repaid) should equal a certain number of vehicles to the taxpayer. Or new police cars. SOMETHING but not nothing.

The execs should have convinced, even implied, that Congress would be racist to deny the bailout, or at least committed to reduce the production of white cars. That would’ve sealed the deal!

Grafted on November 20, 2008 at 2:07 PM

Where in hell did that come from??

When even a Massachusetts Democrat is criticizing the Big 3automakers for taking taxpayer money and making stupid decisions, they’re in deep doo-doo.

Steve Z on November 20, 2008 at 1:04 PM

The Big 3 are in a heap bit of trouble, but I remain skeptical as to what the Dem from Massachusetts means when he calls them stupid.

In their favor, CAFE standards (which he supports) and the high cost of gas was the final nail in their coffin, and thus it’s fair to ask why Congress can keep doing the same stupid things for 20 years.

They want to continue doing what brought them to the brink of liquidation, but they want taxpayers to pick up the tab. Michael Capuano (D-MA) put it best: “My fear is that you’re going to take this money and continue the same stupid decisions you’ve made for 25 years.”

When even a Massachusetts Democrat is criticizing the Big 3automakers for taking taxpayer money and making stupid decisions, they’re in deep doo-doo.

The question becomes, can they limp along until January 20 and then come crying crocodile tears to President Obama and a more friendly Congress, saying that their union workers helped elect Obama? But if Massachusetts Democrats don’t want to bail out GM, who will?

News conference with compromise sending some money to Big 3, announced by R. Bond and D Levin. Not clear if there are enough Senators to pass it or if house would go along with it.

Here’s a link to GM stock price activity. At 3:33 as I type this.

No clue as to why it’s happening :)

Buy Danish on November 20, 2008 at 12:45 PM

“Bipartisan senators” reviving the bailout plan.

Perhaps a big rebound overall in the market today???

No clue as to why it’s happening :)

Some opponents of bankruptcy say GM must not be allowed to fail before it perfects batteries for its electric-powered Volt. This vehicle was concocted to serve GM’s prolonged attempt to ingratiate itself with the few hundred environmentally obsessed automotive engineers in Congress. They have already voted tax credits of up to $7,500 for buyers of such cars — bribes that reveal doubts about consumer enthusiasm for them at a price that would reflect cost.

Congress could help the Detroit Three by allowing them, when meeting corporate average fuel economy standards imposed by Congress, to count fuel-efficient cars they import from their overseas factories. Congressional Democrats oppose that because those imports are not made by members of the United Auto Workers members. Those Democrats care most about the union; saving the planet, second; and auto companies’ health, last.

As for what Obama will do, the Communist Party USA is cheering his election and touting their help as influential unionistas in accomplishing that goal. The “employee free choice act” will be a small part of the payoff.

OK, I bought at around $2.50 up to $2.65 seconds later????

Something big happened.

All of you who want to see the auto companies close.

Ponder this in your brand new big 3 and going to the dealer for warranty work. Is the dealer going to go broke fixing your car for free?
How about the rebates is the dealer going to pass on the rebates and get back pennies on the dollar?

Personally I want a car that doesn’t need a warranty and especially one that needs work in the first 3 years after it rolls off of the line. Call me silly. If the car comes of of the line $5000 cheaper than a big 3 car and is better quality, why would the dealer need to give rebates to sell a car? Rebates are a gimmick.

Do you know that auto plants have their own power supply that is not tied into the grid in case there is an attack on the power plants? Did you know the plants were built with extra thick concrete in case they are bombed and can get back into production?
Mr. Paul on November 20, 2008 at 11:46 AM

Actually I knew these things, but I also know that Brookley Field in Mobile, Al. is also set up the same way, no unions though sorry.

God I hope Honda and Toyota can build our military machines.

Do you know that they have union contracts in place that will eleminate much of the legacy cost over time?

Mr. Paul on November 20, 2008 at 11:46 AM

Well, good try, but GM has been out of defense building for quite awhile…and I don’t know any auto plant made to withstand current bombs, you are talking about WWII plants, which is one of the problems we have. Rather then rebuilding a plant, they pay $25mill year salary, and private jets for personal use.
Sorry, but isn’t it about time we teach the owners of companies that when they screw up, they have to be held responsible…key word is responsible…and that goes for the unions.

GM was at $2.00/share not long ago and I put in my bid for several hundred shares.

Didn’t get accepted. Now it’s at $2.47 and climbing after GMAC’s little ‘were actually a bank’ ploy.

THOSE BA#@$%^s!

This is a ridiculous attack line.

Mr Purple on November 20, 2008 at 11:45 AM

The use of personal jets for business, I really don’t have much of a problem…but flying back and forth every weekend because his family doesn’t want to move? No way…That is close to $50,000 per week for him because he took a $25 mill a year job, and his family or he doesn’t want to move.
Until the heads of the companies decide to make a sacrifice…why should we make a sacrifice? Let them cut back to $5 mill a year (that is a livable wage), have the unions cut back, promise a re-tooling, and then we can talk about bailing those spoiled brats out.

Obama’s honeymoon is going to end in the first week of his presidency if he gives these chumps, and every other chump after them, a bailout.

BigD on November 20, 2008 at 10:44 AM

He’ll not only give the auto companies a bailout, but he’ll also sign the Employee Free Choice Act into law. I disagree however that it’ll cause a premature end to the honeymoon.

Now if he follows this up with additional bailouts which inevitably drive up the deficit to astronomical figures and is forced to raise taxes which in turn drives into a depression…..well, I think a lot of the media will still suck up to the guy, but yeah, a good chunk of the electorate will turn on him.