GM & Chrysler Bailout

not2melo

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It seems the bottemless pit just gets deeper and deeper.
With GM saying they may need a total of 30 billion and Chrysler announcing they need 9 billion total for the bailout.

Seems like when they get you on the hook then the real number start to come out of the blue.
When will this end, dont think the US or Canadian tax payers will keep shoveling in the cash indefinitly.
I say go file for chapter 11 and restructure the company to work more efficently and put wages, bonus's etc
back in line where they should be, or maybe this is what GM really wants to do in the longrun?

I think we are at a very critial point with either the economy slowly starting to stabalize and long term recovery
or it will take a dive into a deeper recession. Or could we ever say the "D" word again? Only time will tell.
Ok enough of the rant :mad:
 

Riley P

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I agree.
I would be pretty choked if I was an automotive company that was not requesting help to get bailed out and kept seeing these other companies get billions of dollars.
 

HLN A55

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I agree with Larry Flint... Why not a bailout for the porn industry too!!! They're suffering from the recession also. Just think... at least we're GM car fans.... how about people that swear by imports that are watching their dollars go to GM and Chrysler?? :)

In all seriousness though... if it wasn't for the amount of people that these 2 companies would put on welfare if they went Chap 11 they would already be bankrupt.

Having said that, I'm glad that I'm not a tax paying american!!!
 

ron rail

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I'm dead against the baillout, I feel sorry for the employees but the top guys and shareholders have been ripping people off for years , when someone gets 7 milions for a bonus just for doing his job, BS, They have so many cars left in shipyards waiting to be sold , they should lower the price ,get the cash flowing and get people in newer cars! Sorry my .02 worth!!! Ron
 

not2melo

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Yes these Exec's making 10+ Million a year with Millions in bonus!
What CEO in any company is worth 20 million a year, I dont get it.
Corp. America: Too many people over the years taking big pieces
of the pie, the problem now is that there is no pie left to take.
 

ctdrl-1

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I'm dead against the baillout, I feel sorry for the employees but the top guys and shareholders have been ripping people off for years , when someone gets 7 milions for a bonus just for doing his job, BS, They have so many cars left in shipyards waiting to be sold , they should lower the price ,get the cash flowing and get people in newer cars! Sorry my .02 worth!!! Ron
I could not agree more!!!! I have bought hundreds of thousands of dollards in GM vehicles in the last 3 years, only to be treated like:swear: by the company the second my cheques have cleared. I do feel bad for the low level employees because they are the ones who will feel it the CEO's are rich enough to withstand 20 depresions, all off the backs of the working men and women. I makes me sick! I think Ross Wheaton that owns the dealerships here in Sask should pony up some of his own money, then we would see how much this bussiness means to him!!

Thats my 2 cents..
 

HLN A55

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I agree with ALL of you but the people that need saving are all the seniors that retired that are still needing a pension etc... I'm just as bitter about saving the actual company and it's executives but it's not just the current employees that are being saved but tens of thousands of retired people also..
 

ron rail

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Don't even think Ottawa can help, we have a bunch of city councillors that can't even decide were to put a bridge to Que or to figure out how to get the traffic problems fixed, The would never think of just building a "Ring" road around the city!!!! I think the've had 20 studies on the studies for the studies!!!!!!! But I'm not bitter!!!!!!!! Ron
 

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I'm dead against the baillout, I feel sorry for the employees but the top guys and shareholders have been ripping people off for years , when someone gets 7 milions for a bonus just for doing his job, BS, They have so many cars left in shipyards waiting to be sold , they should lower the price ,get the cash flowing and get people in newer cars! Sorry my .02 worth!!! Ron
:agree: :D
 

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We've got them right where they want us!

No doubt the auto companies need some form of re-structuring but at this point they've got us in a damned-if-we-do,damned-if-we-don't bind because either way (save or fold) we, the taxpayers, will have to pick up the tab.
We either shell out now with the hope that employees will retain their jobs, or we shell out to sustain them following mass layoffs.:(
As much as I dislike the notion of "corporate wellfare", I don't see that realistically we have any other option. To do nothing is just too big of a gamble when we don't know what the ultimate result would be.:confused:
 

ron rail

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I'd like to put the top executives and share holders on the assembly line and give them $30 hr and see how they like it , so they can live like the rest of us!!! Ron
 

taylorsk8

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right on! Let them do the grunt work. As for the bailout, screw em. They should have done a better job in managing their companies. Just goes to show that the top guys are idiots.

T
 

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