what do you think about the big three?
should they get the loan or not?
talked about it in my history class today and wondering what your opinion was.
i'm split between the two.
- KiKiDEELv 41 decade agoFavorite Answer
Eventually they are gonna have to help them. I'm glad it's not before Christmas because it was probably going into all the big Execs Pockets for bonuses. Let them show what they need it for. I live in Detroit. We have already felt the Impact of the Recession. Our unemployment rate is about 9.6%. National Average for being high is 6.0%. My Husband worked for the big three as one of their suppliers, Lear Corp. He worked for them for 25 years and last Oct. They shut their doors and left for the wide open seas. China,Mexico, Poland. But If they don't help them, Do you realize what that would do to the United States as a Country? How many more Jobs would be lost, not including all the suppliers and their suppliers. My Husband was a union man for years but they are not as good as people think. He was paying $44.00 a month, 2 hours of your wages. Lear built the car seats. All the union did was protect the lazy worker,get the dope heads back in and take your money.They raised their wages way to fast, nobody was ever happy with any contract. We were Happy with our Insurance being paid and he made at the highest 22.00 an hour. Of course it was good money , but the Company wasn't making enough money off the seats with the high wages, fully paid benefits, all kind of holidays off. We were not the big three, we were a supplier. So they pulled the seats at first and sent them to another Lear plant where the wages were a lot lower.My Husbands shop was the first Lear to open, I know these guys made them the powerhouse they are today and no other Lear plant made the same wages,everybody was under a different Contract. they promised the guys that they would never close the Detroit Plant because that's where it all began. Well, when Lear put their Stocks for sale to the public and through the years the Main Plant was way over payed, They voted to close it. Granted these guys made them a household name but if you aren't making the Company money, you are gone. The only problem I have with this is all the white shirts kept their jobs and were relocated. they gave the workers no opportunity to transfer because everyone was under different Contracts, The only Compensation they received was from the State of Michigan. If you lose your job overseas you qualify for a program where you collect unemployment a little longer and they Give you 5,000 in tuition for retraining. these guys were in their 50's when the doors closed. Where do you go at 50 with no formal education? It has been very hard for us but Just think what the Big three workers got, plus the retiree's? They were $$$$. Why should a sweeper or hi-low driver be making $100,00.00 a year? nobody can afford these cars. and the big shots upstairs, just imagine what they got? We live in a Dead State right now. The Big Three should be held accountable for what they do but you have to think about our whole Car Industry. Why these guys thought big was better I will never know. I know the SUV's sold well but what about the single person who didn't need all that Big Monster Power to drive? They never looked outside the box. And look at us now? We do need People to Buy American also. I know there were nice little foreign cars out there but we did have some. It's like we are back at the time of who got on the Moon first. If we let the foreign cars take over what happens to our economy?I hope they have learned their Lesson and start concessions from the top, not the bottom. You would eliminate a lot more debt if they lowered their salaries first. Not The little guy at the bottom. We took $7.00 an hour pay cut for two years and paid more into our health care , they promised jobs. Then after contract was up, Bye-Bye. They had no intention on keeping those doors open, the whole time they were setting up overseas.Source(s): Sorry for this being so long and no paragraphs, but this is situation will affect us all.And I got a little carried away
- lexi mLv 61 decade ago
No, they should not.
They will be back 6 months later just asking for more.
What they need is to go into bankruptcy and restructure their union contracts. Those workers get $$$ way too much money-- like $100,000 for an assembly job.. and they add a good $2,000 per car which makes the cars less competitive. And they build bad cars on top of it!
Definitely bankruptcy restructuring is the best solution.
- Anonymous1 decade ago
How is this folklore or mythology?
Let capitalism fail! Bring on the redvolution!