Why the big three bailout is a BAD idea

AD720 · 12-12-2008, 04:12 PM

What is important to keep in mind, IMO, is that this a problem with further reaching impact than just the assebley line employees of Ford or GM. The tire manufactures, seat belts, air filters, nuts and bolts, salesmen, rental fleet companies...the list goes on and on. All of those companies and their employees would be effected by even one of the major automobile manufactures going under.

I want to be clear that I am not in favor of a "blank check" for the big three. There has to be some kind of restructuring.

I read that the average per/hour pay for a Ford employee is something like $70. And the average per/hour pay for a Toyota employee is something like $35. And I would be so bold as to say that many people would say that Toyota makes a superior vehicle. It seems pretty short sighted that people are not willing to give up a slice of the bread to be able to keep the rest of the loaf.

What it comes down to, to drastically over simplify things, is whether "we" (the royal we) bail out the auto industry now by restructuring the companies and turning them into something that is financially viable and continues to employ thousands of American workers or let the companies go under and put those thousands of workers out of work. And I would have to imagine that a large majority of those workers would need support from the government, in the form of unemployment or welfare or whatever.

The end result is going to be the same, money out of the goverment till. But one path to that is constructive. One is not.

All the "they F**Ked up" talk is totally accurate. Bad decisions were made that impacted the company. But that is done and no amount of finger pointing is going to solve the problem. The only thing to do is look forward and figure out a fix.

My

, not that anyone asked.

12-12-2008, 08:01 PM

Quote:

Originally Posted by AD720

What is important to keep in mind, IMO, is that this a problem with further reaching impact than just the assebley line employees of Ford or GM. The tire manufactures, seat belts, air filters, nuts and bolts, salesmen, rental fleet companies...the list goes on and on. All of those companies and their employees would be effected by even one of the major automobile manufactures going under.

.

True a lot of people will lose there jobs, companies wont make the money they use too. But the others Toyota, Honda, etc based here in the US. will now have to produce more which creates more jobs, still need tires, nuts, bolt, parts more sales people the list goes on.

The big three need to decide what is more important to them staying in business or restructure like lower wages better cars. Thats all

12-12-2008, 04:12 PM	#1
AD720 I'm nuts for the place Join Date: Oct 2008 First Name: Andrew Location: The City of BOTL-erly Love Posts: 2,684 Trading: (73)	Re: Why the big three bailout is a BAD idea What is important to keep in mind, IMO, is that this a problem with further reaching impact than just the assebley line employees of Ford or GM. The tire manufactures, seat belts, air filters, nuts and bolts, salesmen, rental fleet companies...the list goes on and on. All of those companies and their employees would be effected by even one of the major automobile manufactures going under. I want to be clear that I am not in favor of a "blank check" for the big three. There has to be some kind of restructuring. I read that the average per/hour pay for a Ford employee is something like $70. And the average per/hour pay for a Toyota employee is something like $35. And I would be so bold as to say that many people would say that Toyota makes a superior vehicle. It seems pretty short sighted that people are not willing to give up a slice of the bread to be able to keep the rest of the loaf. What it comes down to, to drastically over simplify things, is whether "we" (the royal we) bail out the auto industry now by restructuring the companies and turning them into something that is financially viable and continues to employ thousands of American workers or let the companies go under and put those thousands of workers out of work. And I would have to imagine that a large majority of those workers would need support from the government, in the form of unemployment or welfare or whatever. The end result is going to be the same, money out of the goverment till. But one path to that is constructive. One is not. All the "they F**Ked up" talk is totally accurate. Bad decisions were made that impacted the company. But that is done and no amount of finger pointing is going to solve the problem. The only thing to do is look forward and figure out a fix. My , not that anyone asked.