US Congress to push for carmaker bailout

US government agrees to carmaker bailout

If the Federal & State government hadn’t given massive tax breaks to foreign auto companies to brild plants in the US the big 3 wouldn’t need help. This shows how out of touch our governments are. Maybe we need to bring foreigners in and take over our out of touch government. Don’t blame the UAW unless you never did anything wrong at work.

Miss Nancy leadin' the charge...
;)
House will help automakers - Pelosi
WASHINGTON (AP) — November 15, 2008: House speaker says funds to rescue Detroit car companies should come from $700 billion bailout. Collision with Bush administration likely.

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House Speaker Nancy Pelosi said Saturday the House would provide aid to the ailing U.S. auto industry, requiring that the industry meet new fuel-efficiency standards, produce advanced vehicles and restructure “to ensure their long-term economic viability." Pelosi, D-Calif., did not disclose the amount of funding House leaders intend to seek for the industry - automakers have been seeking $25 billion in loans to stabilize their sinking companies. But she said the funding should come from the $700 billion financial bailout approved by Congress in October. “A restructured, competitive American automobile industry will continue to play a crucial role in our national economy and in the global marketplace," Pelosi said in a statement.

The move sets up a conflict with the White House, which has opposed using the bailout funds to help General Motors Corp., Ford Motor Co. and Chrysler LLC. The Detroit companies have been battered by an economic meltdown that has choked their sales and frozen credit. U.S. automakers are lobbying lawmakers furiously for an emergency infusion of cash. GM has warned it might not survive through year’s end without a government lifeline. President-elect Barack Obama said he believes that aid is needed but that it should be provided as part of a long-term plan for a “sustainable U.S. auto industry” - not simply as a blank check.

“For the auto industry to completely collapse would be a disaster in this kind of environment," Obama said in an interview with CBS’s “60 Minutes” that will air Sunday. “So my hope is that over the course of the next week, between the White House and Congress, the discussions are shaped around providing assistance but making sure that that assistance is conditioned on labor, management, suppliers, lenders, all of the stakeholders coming together with a plan - what does a sustainable U.S. auto industry look like?"

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Think about the ripple effect this would have through-out the USA. But I’ve said it a hundered times, we (USA) we still putting AM radios in cars whe the first Datsun had AM-FM w/Cassette. We have advanced technology, we need to grasp ALL of it, GM & Ford!

Bailout = DOOM

This is should be obvious to any American with a brain in their head. GM does not need a bailout that will end up costing the taxpayers billions of dollars. We should ashamed as Americans when we witness the mangement of GM blatantly attempt to reach in our pockets! Hey CEO, take responsibility for your decisions on how you ran your company because it is in your best interest to do so. We as Americans expect you to earn your salary and by performing your duties. The markets are telling us all that you failed because nobody else will loan you money at all. Why should we? Your entire outstanding value of stock could be purchased for under 2 Billion dollars. You have a “book value” of negative 60 Billion, what more do we need to know?

Your company faces a choice apparently between:

A). Stealing money from us taxpayers in the guise of a “Bailout”, then failing anyway and going Bankrupt.
or,
B) Failing now and going directly to bankruptcy.

Hey politicians, listen to us citizen voters because the majority of us would vote for option B.
Hey media, this is a good time for you to employ an honest poll and prove me right or wrong. Please for our country’s sake stop promoting failures as “Bailouts”.
Hey General Motors Corporation Management Team LISTEN CAREFULLY! Fix It!

You can’t fight the power of a free market so use it to your advantage. Here’s how:

Pick a Saturday in early January, 2009.
Put your entire inventory on the auction block for immediate sale.
Use your existing network of dealerships, we know how to find you.
Let the power of a free marketplace prove what your cars are worth.
File immediately for Bankruptcy protection after the sale.
Use the sale proceeds to transition to your future.

This is the fair and equitable way for you to treat us citizens and taxpayers. If done in this way you will again earn the respect of the American Consumer. Emerging from Bankruptcy is the only path to your ability to sell cars in the future and we all know it. Managing involves tough decisions, make sure you decide to follow a path that leads to successful relationships with your customers. For you to ever succeed, you need to sell us cars at prices we are willing to pay. You should require that if the UAW ever enters your factory again they will have skin in the game with an equity partnership. Through partial ownership the UAW will have the same incentive to be profitable that you do. It is that simple!

You know this is the right choice. If you get a bailout from the US Government you give up choosing your own destiny and do not act like management at all. You will not be able choose the products you can offer to the marketplace. You will not survive without additional infusions of cash through government subsidies. You will not be managing your company then will you? You will be begging. This is a fate worse than filing for bankruptcy protection even if you continue to exist in your shrinking capacity.

We all know that by entering Bankruptcy your company has a chance to re-emerge, that is what is supposed to happen. Only then will you shed the labor cost of the UAW. Be rid of the enormous expense of health care and retirement benefits that you cannot afford to pay. Cut your operating expenses legally and start to regain the status you once held in the most important economy in the world.

We Americans want you to be successful. It is time for you to take some pride in representing a key industry in the United States of America. If you cannot convince the consumer to buy your cars willingly, you should not resort to stealing from us. We have a bunch of problems right now and we cannot afford pay for your mistakes. You need to go away.

Signed,
U.S. Taxpayers


I should not even have to ask you to forward my rant, make it viral and send to anyone left in our country that still cares. Before it is too late.