scott c asked in News & EventsCurrent Events · 1 decade ago

Why should the automakers be bailed out?

Did the CEO's of the Big 3 shoot themselves in the foot by showing up in their private jets, being limo'd to the Capitol, all the while asking for 25 billion dollars for their companys? I understand of the potential loss of jobs, but come on, isn't this like the executives for the insurance companies having lavish parties after getting part of the $700 billion bailout package?

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  • 1 decade ago
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    US automakers have been shooting themselves in the foot for the past 5 years. After working "in the business" for 20 years, this is NOT the first financial difficulty they've had. Sales have been dropping for years, more and more people buying foreign cars that are made better, last longer, get better gas mileage, and have better service. But their egos have been too big to make any real changes to fix the problems. Toyota for the first time last year outsold their US counterparts.

    Although I stand to lose my job, I stand firm that we NOT hand over our cash to keep them in the business of bad - business!

    Source(s): http://www.workinglife.org/wiki/The+Auto+Industry+... http://www.iht.com/articles/2005/01/04/business/ca... Check out the dates of some of these articles - nothing new!!
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  • 1 decade ago

    The REAL problem with the auto industry in the USA are the UNIONS... demanding higher and higher wages in a failing business and economy. Almost $3000 of the cost of each US built car is to make union pension payments.

    Now I'm NOT saying that the Big 3 themselves haven't been making bad decisions themselves in the last 30 years.

    I am NOT going to critique the CEO's for showing up in the corporate jets... and I don't think the Congress should EITHER when many of THEM are blowing OUR money on First Class travel and military transport to junkets.

    GM has a car that can get 60 mpg but they can't afford to MAKE it in the USA...

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  • 1 decade ago

    Perhaps they should apply to the unions for a bail out since they are ones that put them in this position of extreme expenses.

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  • 1 decade ago

    Bailouts dont work they only fill the pockets of rich company owner/partners. They need to start helping the working class people by bailing them out and saving their

    homes.

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  • Anonymous
    1 decade ago

    people are so cold and tight with their own country men ,i know why its because misery love company. why even have govt ,if they cant help our very own. we just gave a billion away oversea to Georgia ,billion to Africa to fight aids, why americans dying of cancer ,get cuts. im not in the auto industry ,but they are american.who asking for help.

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  • Anonymous
    1 decade ago

    There is no good reason for the bail out but they will get the bail out. The UAW is bigger than Obama or Bush.

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