Finger-pointing begins as Senate nixes auto vote, page 1

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Topic started on 20-11-2008 @ 03:11 AM by sunny_2008ny

Finger-pointing begins as Senate nixes auto vote

news.yahoo.com

A Democratic Congress, unwilling or unable to approve a $25 billion bailout for Detroit's Big Three, appears ready to punt the automakers' fate to a lame-duck Republican president. Caught in the middle of a who-blinks-first standoff are legions of manufacturing firms and auto dealers — and millions of Americans' jobs — after Senate Democrats canceled a showdown vote that had been expected Thursday. President George W. Bush has "no appetite" to act on his own.

(visit the link for the full news article)

reply posted on 20-11-2008 @ 03:11 AM by sunny_2008ny

Cars are the life line of US. Will a lame duck Bush have the guts to take the right decision. Do Americans want to see GM fold down? I dont think so. It is one of the proud symbols of the American economy.

The article says that close to a million jobs are in peril. If the big 3 close down where would the govt place these people so that they can work , earn and pay taxes.

It also says that the admisnitration has no "appetite" to bail out the automakers.

Well is this the tip of the iceberg? Will this happen world wide in the auto sector?

news.yahoo.com
(visit the link for the full news article)

reply posted on 20-11-2008 @ 07:33 AM by Daedalu

I think we all are going to see a depression Unlike we could not even dream off.
And no one in the governments are going to tell us that it is coming.
There is just not enough money in the world to bail all of these company's out.
If they where smart they would have given the money out to the people and not the To big to fail company's.
It's time to invest in the people and let the money trickle up and not down.
We have seen how the trickle down works. It goes down right into the pockets of the CEO's.

They are not helping the company's because they do not have the money.
They are helping the banks because the countries have to have someone to print money for them, and a place to hide it.
This is going to be a huge mess .

reply posted on 20-11-2008 @ 07:53 AM by Raist

I would not call GM a proud symbol of America. If I had to own an American car (even though there is no such thing anymore) it would be in the GM family. I though personally prefer an import. Imports for the most part are lighter, faster, get better MPG, and just flat out look better.

I am not bashing unions when I say this but the UAW is part of the problem.
www.detnews.com...

voices.washingtonpost.com...

www.freerepublic.com...

Workers getting paid to sit and do nothing actually angers me because those working might be losing their jobs now. I can see allowing a month or a little more of pay while they look for a job elsewhere but after that shut down the pay and make them do something. I would bet my house that this is set up because of the union. I have no problem with them working toward making conditions and pay more favorable, but there should be limits to the stupidity. Now due to things like this we will end up having to pay one way or another. Job banks? Come one they are nothing more than far over glorified welfare checks.

It is not all their fault though the companies that kept making vehicles that grew bigger and bigger while burning more and more fuel did not help. Then to top that off they pay mega bucks to the CEOs and allow them the use of private jets. The whole thing is screwed up from the top to the bottom. The Unions are screwed up due to greed on their own part too. Both sides are to blame.

Really if not for there being a huge amount of jobs lost I would say let them collapse. Even with that I am still tempted to say let them collapse. I can guarantee that if my job starts to hurt the government is not going to bail it out. Not only that but where has the government been when all these other places start to move their business overseas?

Even if they get a bailout I think it is too late for them and others. Greed has grown too large and cannot be contained any longer. The greed has started to devour itself.

Raist

reply posted on 20-11-2008 @ 07:58 AM by DataWraith

Until these and indeed ALL automakers thinking about asking any Government for 'emergency' funding my question is this?
Shouldn't they actually STOP producing vehicles until their fates have been decided as it wil be like flogging a dying donkey to keep pulling the cart incase it doesn't die.
Stop wasting materials and resources until your stocks have been sold. Look at the range rovers that are jsut collecting dust at the depot because there isn't enough demand, or the 'foreign' cars at the US port piling up because no one wants to buy them.

reply posted on 20-11-2008 @ 08:39 AM by maria_stardust

This topic is currently being discussed in an existing thread. Please continue this conversation there.

www.abovetopsecret.com...

Thread closed.

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