I wanna see GREEN.

I beleive that the automakers should do as the airline industry had to. File chaper 11 and reogonize
all but one of the legacy carriers had to file for backruptcy and cut there cost. as well as serveral have gone under.

I work for a major carrrier that lost 2 planes in the september 11 terror attacts and we got little help from the goverment Pres Bushes responce was let the strongest servive

Let the same be true for the auto industry

Thanks for the update Andrew!

If Toyota, Hyundai, and Mercedes can do it better, let them buy out General Motors, Ford, and Chrysler with the condition that the jobs and the factories stay in the USA.

There’s a reason why Americans are buying cars made by foreign companies – these companies have responded to consumer needs and the marketplace.

Toyota isn’t asking for a bailout. It doesn’t need one.

Why are we wasting time with all these senate hearings. Give them the loans now. We spent how many billions of dollars in Iraq with little or no thought. Our goverment is so out of touch its mind boggling.

Question for the automakers – People will not buy cars if they do not have a job. How do automakers ensure that jobs will be created so that demand for cars increase?

If they continue to cut jobs, and the entire business community follows the same route; even with the bailout; the demand for cars will not grow and hence the automakers will never sell more cars.

While cost and job cutting is ok in the short period, selling more cars is the only way for the automakers to become healthy. So what are these automakers doing to create that demand. How do they see demand increasing? Demand can be created only if people have jobs and have the purchasing power.

P.S. If people don’t have jobs they will not buy new fuel efficient and electric cars!!!

At least now we know what GM stands for. Greedy Mother. . . . All this time we thought is was General Motors.
I hope congress says “NO” to yet another bailout. Where will it end?
It all just makes US ( the little people) all more in debt!
Sickening!

I do have a concern with regards to CNN’s coverage.
If it is a loan , why is the term bailout being used? Why
is all of the focus on the CEO’s and not workers?
Recently I was tuned into Bloomberg and a reporter
by the name of Kevin Smith was traveling around the
states that have taken economic hits because of the
crisis. Secondly, how can this not eventually affect the
banks and financial institutions again when car loans
are second only to home loans? Thirdly, if the American
brand of capitalism is 2/3 consumer spending and people
are losing jobs and not able to spend money, would this
lead to a depression. From all I have heard with regards
to ” The Great Depression” it was a 20 trillion dollar price
tag. Finally, that would be another product no longer with
an American brand name. i have a question : outside of
soft drinks like Coke or Pepsi, would cars be our biggest
export ?

NO NO NO Loan or Bailout from the Govt. A failed business is a failed business that is what the bankruptcy system is designed for in the U.S. Both large auto plants in Atlanta have already closed down. It has not been that horrific for Atlanta.
I worked for a major airline in Atlanta for 15 years and didn’t qualify for a severance package or retirement. I simply quit and went to Nursing School. Best move I ever made and will again if the need arises. I don’t want to hear how this has to be done to save the economy. Economies save them selves.

According to Mr. Brown the bailout for the Big 3 do not make any sense. All the people who are against the bailout need to go to each emplyees (of the Big 3) houses to see how many people they are supporting by been employeed by the Big 3. They also need to see how many other small business rely on these Big 3. If the gov’t does not bail them out they better have some money ready to pay atleast a million people who will be out of work plus others who might get laid off because of slow down of economy. I do not understand why a big issue was not made for the $700million bailout for the fianacial institutes whose boses went on a spending spree after getting bailout. It is not the Big 3 CEO who do not know how to run their companies but it is our politicians who are bailing out fiancial companies like Freddie Mae, AIG, etc who were on the verge of collapse because the politician did not do their job of keeping eye on them properly. Not bailing out the Big 3 will most defintely push us in depression. tThe ripple effect will leave alot of people unemplyed and relying on government funds.

The big three can go under. Let U.S.A. Toyota, Honda and Subaru fill the gap, hire laid off workers and manage “Detroit” with a proven successful management.

This does not make any sense. I don’t understand why, if GM can be sold today for 30 billion, why would we lend them money when the government can buy them and restructure them. The employees will keep their jobs just not their benefits. It will not hurt the emploees to become like the rest of the countries citizens.

Regarding the Auto Industry Bailout—

It is foolish to think that the executive teams of the “Big 3″ automakers, the architects of the status quo, have the capacity to guide this essential industry through troubled economic times. To say otherwise is akin to asserting that the current Bush administration, the architects of our government’s current economic woes, has the capacity, perspective, and character to lead America out of our economic doldrums, of which they are the architect.

That said, the massive means of manufacturing capability and distribution that is the auto industry is an asset well worth saving. If a stop-gap infusion of money can keep the industry afloat until better, more enlightened leadership emerges, then I support federal loans to the automakers.

If President-Elect Obama has demonstrated anything to the country it is that leadership matters!

Hello 360,

I’m pretty sick and tired of hearing about bailouts for Americans that build cars. Since when is this country founded on those who build cars?? What about us small business owners that HAVE NO MONEY LEFT and have access to NO LOANS from banks???

I own a smail automotive repair shop that specializes in vintage cars, mostly vintage VW’s. I’m about to lose my house (which is only a 2BR/1BA 900-square foot dwelling with a carport), all my credit has been drastically reduced due to late house payments, and the shop and my 2-employees (including me) are hanging on by a string. My credit card debt is now unbelievable as I’ve used whatever sources I can to keep my business afloat. I own no corporate jets, I drive a 1963 VW camper!!!

We’re working class Americans living from paycheck to paycheck and no one is even talking about helping folks like us.

Sincerely,
Francis Hetherington
VolksRepair, LLC
Sarasota, Florida

I have been listening to the Senate Hearings with the “Big 3″. Here .they all are asking for tax payer funding, complaining about unfair trade policies, credit markets, customer confidence, etc. It would be better for all 3 to merge into one entity to build the best vehicles this country has to offer and to compete directly to get back the market share that has been lost to Foreign Corp. If succesaful it would strengthen our countries economic base, save and create more jobs. America needs to keep any Public Funding here in America, not invested in Foreign Operations.

I am not buying this. The Big 3 and their unions are not the victims here. They put themselves in this position by making poor cars and trucks for many years along with poor business decisions. If they made quality cars and trucks that people wanted to buy than they would not be standing in front of congress asking for a hand out. If this wasn’t bad enough, the PR stunts (driving hybrids to Wash D.C. and UAW placing a full ad in the New York Times) are despicable. I have no sympathy for them. It is hard to have sympathy for CEOs who make $21M a year and employees who make $73.00 per hour. File for bankruptcy like any other company and individual would do and then reorganize/restructure your companies and get rid of the fat union contracts that pay people 95% of their pay to stay home.

I’m really impressed with the Salary of $1, BUT they didn’t seem to give up their bonus, their perks or kick backs. Their salary is average 2.4 million the bonuses and perks are 21 + million. I’ll send my resume in, I can run a company into the ground for that much money.

You can get in touch with me through my e-mail to let me know when my bail out package will be sent. You can keep my in the thousands, what a bargin for the tax payers.

I think congress has to do something to keep The Big Three afloat, but where do they come up with these new figures going up in the tens of billions of dollars? How much money do they REALLY need?
If they cannot make that clear, we should not help them at all. If I want a bank loan to buy something I need to explain why. These CEOs need to do the same.

Go Francis! I hear ya~

GIVE ME A BREAK !! Where was the scrutiny from this Congress on the bailout of the banks ? Instead of asking the tough questions then , handing out billions of tax payer dollars , they tripped all over themselves to GIVE AWAY our money to the banks as soon as possible , NO QUESTIONS ASKED !! They in turn used that money to BUY other banks and to sit on and collect interest !! Now along comes the BIG 3 , the very FABRIC of our economy , and they choose to rake them over the coals and DEMONIZE them and the UAW , which by the way EVERY American OWES a debt of graditude to for the 40 hour work week , overtime pay , health care benefits and fair labor practices , how SOON we FORGET !! Way to go America , keep on selling out and turning your backs on what made this country GREAT , BLUE-COLLAR working men & women and UNIONS standing up in SOLIDARITY to corporate fat-cats for what is RIGHT !! keep up the good work and soon it will be the upper – class and NO CLASS !! If you think times are tough now , let the BIG 3 go under and wipe out 3 MILLION more jobs , kind of like cutting your nose off to spite your face , GOOD IDEA …… I don’t think so !!

My vote is for no bailout for the auto industry. They drove the industry into the ground from greed and excessive salaries. The company loses money – no salary or bonuses for the top execs – very simple. They don’t deserve a single penny. We can’t afford to buy their cars so now Congress tells us we have to pay them anyway through a bailout. Time to have term limits for Congress. They have lost total touch with the people.

I find it hard to believe that we would deny help to the big 3 automakers, when we have already thrown billions at the banks and AIG. All they have to do is put out their hand and they get as much money as they want, without any accountability as to how that money will be spent.

But when it’s GM, Ford and Chrysler, then they have to go in front of Congress and lay out a specific plan, have the union give huge concessions and go through more scrutiny and questioning than any financial institution. There is something wrong with this picture. At least the auto companies actually produce something. What do the banks and insurance companies like AIG create? Greed, more profits, suspect loan practices.

I don’t care what the government does, as long as they find a way to keep these companies in business. The fragile economy can’t take another big shock and the workers who make their living working for these companies should not have to pay the price for the mistakes of the CEO’s. Let’s give them a loan with strict conditions and oversight, whatever it takes, but we need an auto industry.

As I listened to the Senate hearings today, I thought it interesting just how negative Sen. Shelby from Alabama was about assisting the big 3. Someone should point out the number of different foreign car manufacturers that have facilities in his state. GM is nowhere in sight. It appears it wouldn’t be in Sen. Shelby’s self interest to support the big 3. Perhaps it would be insightful if each Senator at these hearings tell us which auto makers have manufacturing facilities in their state.

This “bailout” is approaching a dangerous amount, taking into account that it does nothing to assist us the citizens, the backbone of this wonderful country!!! We are in this mess because of the bad business practices of some banks, let them fail. The ones that survive will become stronger. As far as the auto industry… let them fail!!! Bail us out. It would take less than $1 billion to assist every one of us. The federal government should give each of us $1 million in exchange for a 10 year program of public service. I bet that at least 50% of citizens would sign up, and assist this country build itself up again…i.e roads, schools, hospitals, electrical grid, power plants and everything else!!! Give me $1million and i’ll help stimulate consumer spending, buy a house and start my own business!!!!!

I have been enjoying the coverage of the auto bailout information up until Tuesday night. Ali Velshi lost a lot of credibility with me when he said that GM may sell off Volvo and Land Rover. That would be pretty tough to do since they’re owned by Ford.

I work at JP Morgan Chase. I am a frontline employee at the bottom of the food chain. Today it was announced that our team based bonuses were eliminated because of the current economic crisis. Yes we should be thankful to just have jobs given the circumstances. Here’s what I have a problem with: JP Morgan has been all over the news as one of the survivors. It has been made to look like one of the good guys. Let me tell you the real story. Myself, who makes $9.00/hr, and my co-workers who don’t make much more lost our $1,000.00 bonus bc of hard economic times. We use that money to pay for rising property taxes, medical bills, heating our homes, groceries, and some were counting on the money for their kids’ christmas. Those kids won’t be having a Christmas. Some of us will be a little colder, some a little hungrier……. But don’t worry about the big ceo’s and executives, they will be ok, their bonuses were only cut by 20%….. Hope they can still afford that trip to Barbados for christmas.

It’s the same old story……. top execs get richer, we get poorer…..

Senator Chris Dodd did a great job on the hearings with the Big 3 today. He and the other senators got to the depths of the situation, and the parameters for a bailout (short term loan?). The chart in the hearings on the easel said it all. Citigroup ($300Billion) and AIG ($120Billion)and Bank of America ($90 Billion) should all extend the $35 Billion in loans to the auto industry from their TARP funds before they get any more of the taxpayers funds! Now that would make both groups perform to the public good. Treasury Secretary, Paulson needs to be responsible to the U.S. taxpayers, not just his buddies in the banking industry.

Yes, I am a Republican and was once proud of it 8 years ago.

I wonder when anyone is start talking about the consumers??
Maybe we on top of all the problems a consumer boycott of all american car makers.
We have a Ford and just finished a trip across Canada for 2 years, we used 13 different original Ford services across the whole country, one one was up to standards and friendly.

All our requests to Ford direct, about problems we had were never answered??

We love the truck best quality we ever drove, but we would NEVER buy a Ford car again – just because we never got appreciated as a customer.

We don’t need any special treatment, but if there is a mayor problem then somebody from Ford should take the time and answer.
One one side they ask for feedback, on the other it is ignored.

In my eyes – they don’t deserve a bail out, because they don’t care AT ALL about us – we are the consumers, we are spending the money, we are not satisfied.

I believe parts of the problems is also a consumer boycott.

Just think ONCE about the consumers – are they happy with what they spending there money on??

We love your show by the way.
Best
Rolf

My company has no chance for a bailout. What makes GM,Ford and Chrysler so special? They made their bed, now sleep in iit!!!

I think the American people would be more inclined 2 help strugglin industries regain their footin if, at first, Congress would extend the same amount of effort and use the taxpayer’s money for the taxpayers, to help those who’ve lost their home reclaim home ownership and prevent millions of others from losing their stability and livilyhood as well.

Their workers who perform mind-numbing repetitive work are overpaid…..thus, their product is too expensive…we can’t afford what they produce. How does our tax money bail out that?

Question? If an individual has a bad credit score according to the mystic super gods of credit; the individual will either get a super hiked interest rate or not qualify for a loan. Now if the company that is issuing the loan such as GMAC, Ford Credit, or Chrysler Credit; is un credit worthy because they need a “bailout” to operate or they will file chapter 7. So who are they to judge the common american now when we are loaning them are tax dollars to operate and most individuals in America today can’t even buy a car. This is sad and appalling that our government has failed the american people and really need to look at the credit scoring system that no one understands. What is GM, FORD, and Chryslers credit score? Are we giving them a hiked interest rate? US government can I get a personal bail out because I cannot handle my finances? Are the big three credit worthy? Get real!!!!

Why is it that the U.S. auto makers have to go through all these hoops to get 34 billion dollars, when we gave 350 billion dollars to help bail out the mortgage industy and they’ve spent it frivilously or kept it to line their pockets? why isn’t there accountability for this money? why do they not have to make pay cuts, and cut their spending and bonuses as well? Why doesn’t the oil industry give the auto industry 20 billion of their profits for this year and then congress would only have to give them 14 billion?? Who’s running this mess at the white house? were giving enough money away that there should be something happening.

Auto industry. No Bail out:

The government is supposed to heed the people’s voice and we are all saying No.

Wasn’t the bank bailouts supposed to help the banks so they would have cash to loan? Let the auto dealers borrow from those banks. If the banks won’t loan them money why should we?
(What bank was it that used billions of that money to buy up other banks?)

Those car companies are offering the government, “an equity stake in their companies” to help them. Who would want a stake in a company so poorly managed?

Let them make that same offer to their employee along with lower wages and see if “they” would be stupid enough to do so.

Better yet let all those rich CEO’s put their money into the companies.

It seems to me that we have to bailout the Automobile industry or too many jobs will be lost. I think we should break them up into 5-6 companies to stir competition. If some are inefficient and fail, it wouldn’t have as big an impact on the entire economy. Smaller companies have less bureaucracy and are more innovative.

if the playing field was even for the Big 3 and foreign car companies in this country, the big 3 should file Chapter 11 bankruptcy. They are not competing on a even playing field. States have subsidized the foreign car companies. Their own countries subsidize them.Therefore, they should receive a bridge loan on condition that the union make major concessions or disband altogether.

The predicament they are in was caused by the financial crisis where banks received a bailout with no questions asked. Fuel efficient vehicles were not an issue. Both Toyota and Honda sales have dropped by about 34%. Also, they have been making gas guzzlers in the past 10 years.

The carmakers have been making hybrids for the last 7 years. Apparently they had a difficult time selling them because they were too expensive.

Let them go-

These companies have been run into the ground by decades of mistakes and bad decisions. Our parents taught us that making bad decisions leads to consequences. We must deal with these consequences the hard way so that we can learn from them and change.

Give the money to smaller independent auto makers who can build better cars with less expenses.

Give away all of the auto inventory to people who need cars. Let them have the cars for a nominal fee. Lastly, STOP all the stupid TV automobile commercials.

Regarding saving the Big 3. When the Goverment asked them for help in the 40’s. they all came through. Tanks, planes, PT boats, jeeps the list is endless. Our ability as a country to mass produce weapons is what won the war for us, and thanks to GM, Ford and Chrysler we were able to do just that. Now they are asking for help and many are eager to turn their backs on them, let them go belly-up along with the American workers. God forbid, should we ever find ourselves in a large scale war, with our industrial base shrinking, who will build our weapons for us, the foreign countries that we may be at war with???The rest of the world must be either laughing or quite possibly chomping at the bit to see us backed into a corner.

There is great opposition to lending TARP money directly to the Big 3. My question is: Why can’t the treasury loan TARP money to a bank, with whom the respective automaker already has existing credit facilities, and have THEM loan it to the Big 3 in a normal financing transaction?

Afterall, the whole point of the $750B TARP was to unfreeze the credit markets…and the CEOs are saying they need a direct bailout because nobody will lend to them. This seems to be a way to ensure that the spirit of the TARP is preserved and, at the same time, that funding is available to automakers, but is structured as financing, not a direct payment.

Respectfully,

Michael Carruth

While all of this is going on with the Automakers begging for millions or else face catastrophyc consequences, can some one please tell the President elect he can no longer vote present and offer his opinion on what he think should be done after all, the decisions of the next 47 days, will impact the next 4 years of his presidency or, is he just going to spend the next 4 years continuing to blame the previous president for all of the things which will continue to go wrong in America?
It seem to me that the Democratic Party have become accostumed of doing so even when they have had a majority, barely, for the last 2 and one half years.

We can give the financial markets a blank check and they don’t have to account for what they do with it. It was suppose to free up credit, but it hasn’t. They are holding on to it so they can buy up more banks or give their executives more bonuses. Let the Detroit three go down the drain and see how deep this depression will take this country. They are LOANS not free money like they gave the banks.

I would bail out the auto industry under these conditions:

Gov. takes control of industry for 4 yrs.
Fire all 3 greedy leaders-promote from within
Limit bonuses to 5%-10% for top officials
Sell all planes-Business Class/Black car services
Reduce salaries across the board by 5%-forego merit increases
after all this is a recession.
Produce fuel efficient/hybrid cars-compete with foreign imports

Another area desperately needing a bailout is UNEMPLOYMENT LIMITS. This period should be extended to at least one to two years. The econonmy is not going to reverse in two years – No one seems to care about this term limit.

I am so tired of hearing about the bailouts to the BIG people. What about the little people? I think a better use of the bailout money for AIG and the Big Three Automakers would have been to give $1 million dollars to all citizens 18 and older (approx. 228 million – population that has debts) and we would have spent considerable less money than the 85 BILLION and now 35 MILLION. Sure, some would squander away the money like AIG, but many would use it wisely – thus paying off their debts to the BIG people – putting money in pockets of he BIG people and freeing the little people of debts at the same time AND saving the US a ton of money.

I am sick and tired of hearing everyone complain about bailing out the auto industry and no one is saying anything about all the other financial companies that were basicallly handed billions with no questions asked ???? AIG, Citi, the mortgage corps. So why is the auto industry now taking all the heat ? Correct, this country was not founded by those who build cars, but the economy sure was ! the automotive industry and the unions had a huge impact on making the American economy a world leader – and that auto industry that everyone wants to fail so badly currently supports 3 million plus American’s jobs -

This is not a question of bailing out the automakers, but a question of insuring that the US economy doesn’t fall into a deeper recession. It is now a question of survival. With high unemployment and an uncertain future, the last thing the economy needs is millions of “fresh” laid-off workers. This industry must survive for the economy to recover and confidence to return. There’s no choice!!

Wow who could imagine stepping back a few decades that something as all american as the cars that we build could see the problems that they face today. Is it poor planning, is it an over confidence from our american ego or just plain greed???? My guess is a whole lot of all of the above.

I help manage a small specialty vehicle manufacturing facility. We as managers came together about a year ago and recognised that with a weak economy in our future our sales would suffer. At that time we figured out to produce less with less people (a small layoff) yet remaining at a REASONABLE profit level…it has worked out well for us.
Now none of us make 23 million a year but dont you think somebody in one of the auto makers organization could figure out a similar plan a long time ago.
If the government decides to get involved, which I hate to see, why not do it in the form of a substantial tax credit. A 50% of the purchase price tax credit or something. I would think that this would stimulate sales, open a bit of the credit market, the government is not putting out money up front and some money would be injected into the economy. Handing out money is just not the answer!

Thanks

I listened to most of the questions and answers today and found it most disturging that none of the questions mentioned the new assembly plant in Russia that was recently opened. There were many russians employeed. Where did all the money come from to build and start it up? How come the congressmen did not ask “WHY”?We the tax paying public are being serviced the way Will Rogers’ dads’ prized bull serviced his clients cows were serviced. It is time you in the news media dug deeper and found out more of what is going on. The CEO of Chrysler almost drove The Home Depot into the ground before the was dismissed with one hugh monitary package. Chrysler has already been bailed out once before, some of the members of Congress was present when this took place. Granted the money was paid back. I am not in favor of my money going to pay for the BIG THREE. Is there going to be a block on the 1040 to check “NO”?

Anderson

AIG wasted so much money and the Banks that are given money use them to get bigger so take money from the Banks and AIG and help the Auto Industry so the workers will not loose there jobs. Help “Main Street”

Sec. Paulson made sure that his buddies were taken care of, and the Dem. also made sure that their tracks were covered by their lack of oversight on all those bad loan deals made, but when it comes to Americas Industrial capability to support it self against all enemy’s foreign or domestic, it seems too many of it’s citizens are too blind to see that, America continues to Crumble from with in.

I am amazed at the statement presented by Shelby of Alabama. I don’t think he speaks for all Alabama residents, because I am a Alabama native, too. I really think that what the automakers are asking for is help, sure paycuts would probably help, but at least the company may remain viable. How many of us need help? Probably everyone. By the way how many of the members of congress or senate would work a year for a dollar, and how many of them drive to Washington? Call for a show of hands. I want to see the United States be prosperous and it is time more jobs stay at home. Without business there would be no jobs, no insurance, no food and when you get to it there will be massive poverty, conflicts, more crime. I have a 1998 ford and a 1990 GMC and they are still going.

Since we all seem to be between “Barack and a hard place”, here’s an idea…..

The U.S. Treasury prints up $35 Billion Dollars worth of Holiday Season GM/FORD/Chrysler “GIFT CERTIFICATES” and disperses them to everyone that has or will have their home foreclosed. This way, we’ll know how the money will be spent, the auto workers can still make cars and their paychecks, and people that have or will have lost their homes will, at least, have a car to drive to the poor house.

The GM CEO “HAS” to resign!

Personally, soon my wife and I will no longer be able to make payments on the vacant building lot that we purchased in Las Vegas to build our American “Dream House”, as we’ve now lost all the equity in our existing home in Florida. We’re also going to the poor house now, but we’ll be driving there in our old Porsche!

We called our Mortgagor, Bank of America yesterday, and pleaded for help. They would NOT modify, nor refiance our vacant lot loan at all.

Please, NO Bail Out! … and please make someone give the American people a full accounting of where ever penny is, that was given to the banks!

How and when do we get bailed out?

The Big U.S. Oil Companies made over 100 BILLION DOLLARS this year alone, and even more in 2007; why have not offered to make loans to the Big 3 Auto Companies.

Since they feed off one another, why not help one another ?

A 35 Billion Dollar Loan would be only about 3 months earnings for BIG OIL.

In any business the timing of decisions and actions is a key criteria of success.
The endless to and fro congress and Bush ( Pelosi/Bush) wastes time we do not have.
The $25bn was for Eco cars and research. Why will it take Chrysler GM and Ford till 2011 or 2013 to get these on the road if they use the $25 billion allocated for that? Nonsense, use it for what was intended.
The current language of emotives like “bailout” “slashing labour costs” ( probably means labour redundancy as opposed to cutting labour cost to competitive levels which is the real need) “bankruptcy” should be replaced with “Loans or repayable bond holdings or shares” ,”Competitive labour agreements both for now and in future” and Bankruptcy by “corporate re-structuring” or a “planned and managed bankruptcy” government backed and supported.
Trying to or linking eco car development and corporate re-structuring is not a commercially viable solution they are separate but necessary components of the longer term competitiveness of an essential industry to the US economy.
The political ideological debate is taking time not available and will only increase th cost ultimately. The debate about where the money should come from is a fascile debate as long as anything given is a lending or investment in bonds or Shares, both of which will be more secure if the needed re-construction, amalgamation, or restoration of competititive abilty is a success.
Medis play your role, demand a plan from Republicans and Democrats, and the Obama transition teams alike and demand they stop the gridlock in the interest of the good ole USA and its people.
Regards,
Hodgson.

The bailout to banks is planned to cost us about 750 Billion Dollars.
Multiply about 75 million American families x $10,000….that’s the same amount. What if the Treasury placed a 750 Billion Dollar purchase order with the American automakers to produce and deliver 75 million 50 MPG (Prius like hybrid or electric) high quality vehicles at a price of $10,000 each. The Commerce Department would then proceed to offer these these vehicles “free” to any tax paying family household purchasing any new American car at any price. Which of these plans….the bank bailout or the super car giveaway would be best for the economy. They both cost the same. But it is completely obvious that only the car deal would be certain to jump start the economy, create new jobs, and cut National fuel consumption by 30 or 40%.

Detroit has driven America to the brink of disaster. Most of our current problems can be traced to what Detroit has, and hasn’t done.

Firstly, back in the 1970’s Detroit should have taken the lead in developing new technologies which would have freed America’s hostage-like dependence on oil. They should have set about going into R & D on electric cars and superior batteries. This would have created a lot of spin-off businesses and technologies just as the APOLLO program did, as well as brand new manufacturing sectors. Wind power, photo electric batteries, solar, thermo– would all be better off today if Detroit had done any strategic planning back in the 1970’s and 1980’s. Instead, they continued to invest and put their energies into old, failed, business models and production for their own selfish short-term profit.

Secondly, had Detroit done what was suggested above, it would have created more new industries, products, jobs and research work for Americans at home, thus creating real wealth.

Thirdly, Detroit’s gas guzzling cars require oil. Lots of it. Our US dollars left America to buy that oil, and in the process built up Middle Eastern Countries which are now hostile to us. Because of the scramble for oil, money, power, and influence in the middle East, unstable and dangerous situations have developed. If America did not need their oil, how would Khomeini, Ghaddafi, Saddam, and Osama bin Laden have arisen? These oil rich countries fund terrorism and have an anti-American/Western agenda, do they not? Now, we suffer terrorism in our own country. Gee thanks Detroit!

Fourthly, Detroit’s history of recklessly selfish and short-term actions have put the American dollar and economy in peril as discussed above.

The American people should NOT be expected to reward those who have caused our country so much harm and are making us miserable.

I hope that more people can “connect the dots” and see what an awful position Detroit has put us in.

NO! TO BAILING OUT THOSE WHO HAVE HARMED AMERICA!

GM made an electric car, EV1, in 1996 because of a mandate in CA for greener emissions. Claiming there’s “no demand”, GM TRASHED the brand new cars and technology despite Americans begging to buy their leased EV1 car.

Watch: “Who Killed the Electric Car?”

These companies made their bed so they can lay in it. “What comes around, goes around”. Let’s invest in companies who utilize technology instead of hiding it.

Congress & America was sold on the $700B bailout because “industry” needed those funds for operating purposes on a day to day basis.

Shouldn’t the Big 3 Automakers be tapping in on THAT money — or is there “double dipping” going on here?

Do all media people have amnesia or are all of you just not informed. There is no substitution for oil and gasoline if American car companies keep making cars that run on petroleum only. What we need are plug-in hybrids that get at least 60 miles to the charge. And I am talking Suburban’s here. The technology exists. Just like all electric cars which also may be part of the solution. In 1997 the state of California mandated that electric cars be sold in the state. General Motors produced a wonderful car, the EV1. But they would not sell to the public. They would only lease it. Then the auto companies sued the state so they could stop building them. Because they felt that they were against their long term interest. The thing that makes plug in hybrids the key is that we can plug our cars in at night and still have the confidence that if we need to take a trip we can still fill her up. But the country’s need for petroleum will be drastically reduced.
And that leads us on to alternative fuels. If we are building plug-in hybrids and the average person is now only filling up once a month or less. Then alternative fuels then make sense because we need much less fuel and the cost will be low because of lack of demand. And drill baby drill can be turned into grow baby grow.
The big car companies are asking for a bailout right now. We should give it to them, but only if they agree to start making these automobiles their new fleet. And again tax breaks and low interest loans for the consumers, along with the car companies agreeing to produce affordable models for the average person to be able to enter the market.