Big 3 Push for Another $25 Billion

doomster · Big 3 Push for Another $25 Billion

GM, Chrysler, and Ford just got a $25 billion dollar bail-out to help design better vehicles, now they want another $25 billion to keep the doors open!!! What gives? Lots of jobs at stake here that could cause major unemplyment..........do you feel its time for one of them to go, or two of them, or do you think we should bail them out....again???

hopemonger

I know I've always wanted a Jeep Wrangler so Chrysler needs to stay open! LOL.

Roostercogburn

Unless they get rid of the arrogant bastards running those companies (except Alan Mulally at Ford) and hire management with an ounce of business sense, giving them money will just be pissing it away.

ThornInMyPride

I'm torn on that issue... I'm from Michigan and I have family up there that worked for GM for years and it's cut backs have caused so many problems up in areas that way. I don't know... I mean they need to stay open but it's hard to get people to invest in these companies so the gov't has to do it!?? I don't know...

Roostercogburn

I feel for the people that have had to suffer due to inept management over the past 30 years. If they would have used the money when they were profitable to invest and build vehicles in the USA instead of moving operations to Mexico and China, they would be in a much better position now. The Saturn experiment was a tremendous step forward for GM. When they found out it would actually work, they basically abanoned the concept out of fear it would cannibalize their other brands. So, they allowed Toyota and Honda to destroy them instead.

doomster

My problem with GM and the others, but more directed towards GM is the fact they have let the union completely run them out of business. Free Benefits for life, even after you retire, and wages that exceed $30 an hour for a janitor is the biggest reason they are in money trouble. I say ax the union, bring in skilled labor at a more reasonable rate. Before more bail-out money hits the table for these guys, they need to trim the expenses inside...........its not our fault as a taxpayer they can't spin a profit.

Kim

$ 30.00 an hour to be a janitor?? Chit, forget being a nurse, I need to be Kimmie the janitor !! Shocked

Nighthawk

A lot of the assembly line union workers are making $60/hour and the buyouts to get them to leave are $100k+. And they have been moving much of their operations away from the US to avoid the high union wages. Meanwhile Honda and Toyota have been moving their operations TO the US and can compete with more realistic market salaries and have been getting regular bonuses because their respective companies have done so well. With the bonuses and removing all the unions dues, their pays end up being almost the same, but Toyota and Honda have more flexibility with their nonunion set salaries and times to adjust if the market tanks, as we are seeing now.

doomster

Exactly, when you have a guy on an assembly line installing tail lights with an electric screwdriver and he makes $38 an hour, then you cry we don't have money to operate on.........thats your own damn fault.

I know a guy from the lake that works as a "leak specialist" for GM, he makes $37.50 a hour, this was 4-5 years back, so he is probably over $40 an hour now, but his job consisted on moving cars from the finish point in the assembly line to some kind of water room and checked all the glass for fitment and made sure the vehicle didn't have any interior leaks...........tell me again your budget is shot and you need a bailout.