Automaker Bailout Debate
James Gattuso takes on Pat Buchanan about the potential Automaker Bailout from MSNBC’s Hardball with Chris Matthews
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Whoever wants to keep GM alive can go donate to it rather than stealing from American's who dont really care. Also, these companies are failing due to regulations from the government. -_-
pat buchanan is an ass.why he is so protective to the american brands?if a brand from another coutry goes to america and creates jobs what´s the problem?the weak fail.
yup Kia, Honda, Toyota, Nissan, Mitsubishi, Subaru, Hyundai
Made in America by Americans
its all about jobs right ?
don't buy foreign made cars buy American Made !
why should we(taxpayer) bailout GM, Ford, and Chrysler
1. Lay off thousand of worker.
2. Lay off, because of greed!
3. Let them deal with their own problem!
Same goes to GM, Ford, and Chrysler for building factories in "Canada, and Mexico". It's all about Profit.
How many auto jobs could have been American jobs? answer that!
What I meant by according to the associated press, UAW workers make 70,000 a year when you include their sweet little benefit package. Foreign automakers in the south make half that and live comfortablely there because of low cost of living. UAW workers do make twice as much. FACT: They don't have as comfortable of a life style because the high cost of living in Detroit.
The auto industry is suffering because they over produced in a down economy and nobody wants to buy in a recession.
someone smart please help me
this video was good sg
70$ an hour to do a job that does not require any skill. IT'S A LABOR JOB anybody could do it, it's like fliping burgers. Unions are a thing of the past. UAW workers would not need as much pay if the cost of living in Detroit was'nt so high.
Ledtting the big three fail, will finaly give someone else a chance to start their own auto industry. Someone like Preston Tucker who ironicly was forced out of business by the big three when they cried to the goverment back in the late 40's.
GM CEO had the battery car shipped to Washington,DC while nobody was looking.The CEO
drove a Impala or Malibu there.The GM battery
car can't go but,40 miles.Levin & another Democrats got in the back seat of the battery
car.They were all smiles when they went 10feet
in it.What a joke! Plus a 18 wheeler with a48,000lb load can't be pulled with a battery never ever PERIOD!The only thing that will power them other than diesel or gas is natural
gas.They use 25% of the fuel here everyday.
Both of my senators voted against the $700billion bailout.You see what a joke that was.
AIG went on executive spending sprees with it!
Plus the companie's are still giving out big
executive bonuses they just changed the name of them.Jay Leno said they said they have to
to give them to keep executives & upper management from leaving.Leno said yes they need to keep them they are doing such a great job!What BULL—!!The Dems forced affirmative
action house loans to low income people!
700 billion goes out to other countries for oil every year!We have 150 years of natural gas reserves here.
We have Honda,Mercedes & Hyundai plants in my
state.There hasn't been no layoffs yet.The Honda & Mercedes plants cut back on production
Not having unions gives them flexebility!We
also have a German Steel Company getting ready
to open in the near future.Georgia has a new
Hyundai car plant under construction!They had
over 27,000 apply for the 2,600 jobs!The UAW
needs to stop giving millions & millions of
union dues to the Democrats every year & use
it on their members!!
Can you explain then why it is that Toyota and Honda are laying people off?
Toyota and Honda both reported sales declines greater than Ford's.
The 401 k losses can be blamed on the federal reserve, it is the federal reserve's responsibility to maintain market liquidity. The fed banks receive a 6% dividend on their federal reserve stock, whether the economy grows or not. The money supply needs to be controlled by the government, not a private federal reserve which is a private institution
Both my Senators voted against the 2 bailouts!
American taxpayers don't want to pay for the
Big 3 pensions!A lot more people loss there
401-k's!Why not just help them with a trillion
of taxpayer money.The labor cost on Big 3 cars
are $2,000 more than foreign labor cost on each car.They must bankrupt,restructure,re-
organize & renegotiate with the Union.Make it
clear 1/2 of something is a hell of a lot better than all of nothing!The government don't need to run banks & carmakers PERIOD!
General Motors is dead. The failure to create a bailout plan or my preference an industry wide sales stimulus plan effectively kills the company. People are simply not going to buy GM, with or without TARP.
It is difficult to say what the new congress may do with the remains of the industry. You can be assured that fuel efficient cars will be demanded, as OPEC begins raising the price of oil once again.
, but the public will lose much more if the industry goes down. Those who own cars of bankrupt companies will lose their investment. The cost of purchasing other brands will go up and the unemployment rate will skyrocket. The cost in terms of food stamps and other aid must be considered as well.
Lastly, what would it hurt that someone had saved a little money on their car purchased in today's economic climate?
I respect Nader's work as well. You should not however, that Toyota and Honda sales are down more than Fords. All of the automakers are laying off large numbers of people.
What I am advocating is an industry wide stimulus, not a pick the winners approach. For $30 billion the government could provide $2000 rebate on 15 million vehicles from all makes and models foreign and domestic. Whether that would save GM, I don't know. It sounds like a lot to ask of the public, but the public will
Sorry, you can't argue with FACTS. The Facts I stated about the #1 & #2 rated cars in Europe being one a GM (Opel) and two a Ford (Ford Fiesta) is reported in Euro trade magazines. So not wrong. Fact again, The Ford Fiesta cannot be sold in the US without adding $3000 per unit in safety standards as mandated by Congress (it was tried in the 90's and was a failure. Please look it up, and if you find FACTS that refute me, I am obliged to deffer to you, however just saying WRONG won't work with me.
Pat Buchanan was right on every point.
What has been left out of this debate is the fact that both Honda and Toyota are laying people off.
Another thing being left out of this debate is the consumer. Noone has considered the impact on the consumer. Bankrupt car companies, means worthless cars and lots of them.
Most importantly however, I would like to say that it is vital that a consumer up approach be taken to stimulate sales industry wide, including foreign makes.
#1 & #2 cars sold in Europe are Chevrolet, and Ford. Those models can't be sold in the US due to government regulations. The problem with American Manufacturing is Government involvement. Take the Government meddling and allow the market to work. There is 100 year history in American Automaking, they will figure out how to see a product, unless mandated by government fiat!
How can a CEO that makes 20 million dollars a year not project this with they way the economy has been???????????????
Check out "Who Killed the Electric Car? Part1". There are 10 parts. It will make you freekin mad as hell!! GM crushed thousands of electric cars a few years ago rather than sell them on the market. And they wonder why they are losing their asses!!!!!!!
These people are idiots. Build what Americans want, not what the car makers want to build. Make ELECTRIC CARS, not hybrid. Amerians are sick of manipulation from big oil/government/auto industry and the Arabs.
limit the imports of foreign "made" vehicles ???
then stop importing FOREIGN MADE chrysler PT cruiser from mexico, chevy aveo from korea, ford 500/taurus from mexico, chevy/chrysler pickup trucks from canada and many others.
buy american made then ? like toyota camry honda accord nissan sentra mitsubishi, kia, hyundai
No one in government that creates legislation against victimless crimes, or creates legislation governing what people can do with their own bodies is insulting the intelligence of everyone that thinks freely about that which they have no, or insufficient data on.
Democraps, as you call them, are about the same as Republicunts. I view them both with disdain, and look forward to government that seeks to educate, rather than legislate everything.
That argument goes for all forms of government. It is not limited to parties. The government needs us to need them so they can take all of our damned money and keep us under their boot.
If I hear the word restructure one more time, I will kill whomever utters it. For those of us who pay attention to the auto industry, General Motors and Ford are producing fantastic products and have been doing a wonderful job if reinventing themselves. Chrysler is in trouble, but GM and Ford are doing extremely well. The only thing holding them back now is morons like this who associate the new line-up with what was produced in the 90s.
HEY FORD and GM just opened up new factories
in Brazil and Russia?
why do they need a Bailout ?
Americans are dizzy already 7.7 trillion spent on bailouts and not a cent for the poor people
not a cent for the people losing their houses
not a cent for the people losing their jobs
but 7.7 trillion for those that caused the mess America is finished.
Auto industry needs to be restructured and a bailout prolongs the process.
Buchanan is setting up a false dichotomy between preserving the Big 3 with a federal bailout at taxpayer expense and not having a domestic auto industry. The other guest is absolutely right. A bailout wouldn't help our domestic auto industry; it would only prolong the agony by subsidizing their dysfunction.
And these Asian countries don't allow American imports because their citizens don't realize that their governments are screwing them over by barring foreign competition.
Correction: "what does a CEO do that they need to make millions?"
Fuel economy cars started a while back. Y didn't Ford,Gm,Chrysler start this a long time ago. Maybe people would have bought their cars.Y do they need 25 billion when they have CEO's who make millions. What does a CEO do that they need to make 25 Billions. My sisters job was cut at Ford as a service writer. With two kids and numerous bills, yet her manager made enough to buy a Ferrari and own 3 homes. Let the automakers go!
I thought the idea was to get rid of corporate welfare.
The fear that all is lost of the Big 3 file for bankruptcy is a fallacy. There are many businesses that file bankruptcy every year. More often then not, they come back stronger than ever. It's painful to face and admit your mistakes, but you are free to fail in this country, it's just a fact of life.
China and Japan have non union labor and do not provide a retirement for its workers keeping costs down so low that we cannot compete with the cost of imports from them. Bothsides are right in there own way… problem is that neither side saw this coming when they should have been watching how China's economy has been booming for the past 20 years. Now we are at a point of utter reliance on them, we have borrowed unreal amounts of money from them. They know how to run a business.
Big government got us in this disaster, and Bachanan wants to use big government as a solution? What a lunatic. Government cannot control the markets! How many disasters will it take for people to realize it? How many failures in protectionism do we need to experience to realize that blocking imports causes other countries to block our exports? It simple common sense.
This is serious, Pat Buchanan SUPPORTS government intervention… I'm actually quite scared now.
Iowa did not suffer during the last mini recession and that is because we are a right to work state. We live right next to Illinois and the companies there are being run into the ground. We have one company who's employees have been on strike for 4 months. Some of the guys want to just go back to work and the untion won'y let them. Some unions are not what they used to be. They are no longer for the worker they are for padding thier own pockets.
I have one thing to say "free trade act signed by President Clinton" that was a bad move and know we are paying for it. We are a consumer they are a producer now they don't buy our products. Thanks to that the free trade act China owns us. We should only have frww trade act with comtries that want to purchase from us.