Pelosi wants her cake and eat it too...

[SteamWake]

http://news.yahoo.com/s/ap/20081115/...o/auto_bailout

House would provide aid to the ailing U.S. auto industry, requiring that the industry meet new fuel-efficiency standards, produce advanced vehicles and restructure "to ensure their long-term economic viability.

Yes sure that makes perfect sense. :hmm:

[DeepIron]

Well, at east they're talking about doing it from the existing 700B bailout funds. It's a sad fact, but the auto industry in the US is one of the largest manufacturing and retailing segments in the economy. Frankly, we can't afford to have that large a section of our workforce laid off and drawing unemployment.

The upside is that the loan would come with 'strings attached', one of which will be for the Big 3 to produce more fuel efficient cars and trucks.

I'm not a fan of the bailout, and as I suspected, more than just the financial sector would want some of the cake... Might as well make the best of it 'cause there's nothing the average taxpayer can do about it.

[Skybird]

Originally Posted by SteamWake

http://news.yahoo.com/s/ap/20081115/...o/auto_bailout

Yes sure that makes perfect sense. :hmm:

Makes perfect sense indeed, what are you complaining about with your hidden irony? Fuel-slurping monster cars are a dying species, so why wasting money on them - by buying them and the fuel they need, or by wasting taxes on maintaining production capacities for anachronistic cars? Go modern - it's the future, and it is inevitable. German car makers find it hard to learn that, too - but they do, slowly, but nevertheless. If GM and Crysler don't, they will be dead very soon. They are sitting on a mountain of fuel-killing cars that nobody wants to buy anymore. the smaller and more economic models of them and foreign producers sell much better.

[1480]

Originally Posted by Skybird

Makes perfect sense indeed, what are you complaining about with your hidden irony? Fuel-slurping monster cars are a dying species, so why wasting money on them - by buying them and the fuel they need, or by wasting taxes on maintaining production capacities for anachronistic cars? Go modern - it's the future, and it is inevitable. German car makers find it hard to learn that, too - but they do, slowly, but nevertheless. If GM and Crysler don't, they will be dead very soon. They are sitting on a mountain of fuel-killing cars that nobody wants to buy anymore. the smaller and more economic models of them and foreign producers sell much better.

Ah, isn't Chrysler owned by Daimler? Last time I checked Daimler is German....:hmm:

[DeepIron]

Originally Posted by 1480

Ah, isn't Chrysler owned by Daimler? Last time I checked Daimler is German....:hmm:

There were talks going on about GM acquiring Chrysler... It fell through due to the current economic downturn: http://blogs.motortrend.com/6341772/...ion/index.html

[Digital_Trucker]

Originally Posted by DeepIron

It's a sad fact, but the auto industry in the US is one of the largest manufacturing and retailing segments in the economy. Frankly, we can't afford to have that large a section of our workforce laid off and drawing unemployment.

You got that right. Even if you just count the employees of the big 3, then you've got a large chunk of manufacturing left in this country. But when you add all the contractors that make auto parts for them, you're talking about a huge chunk of the work force spread all across the country. I don't like the idea of rewarding bad management with a bail-out either, but I'd hate to see what it would be like for everyone involved in the auto making business looking for work at the same time.

[AVGWarhawk]

Originally Posted by Digital_Trucker

You got that right. Even if you just count the employees of the big 3, then you've got a large chunk of manufacturing left in this country. But when you add all the contractors that make auto parts for them, you're talking about a huge chunk of the work force spread all across the country. I don't like the idea of rewarding bad management with a bail-out either, but I'd hate to see what it would be like for everyone involved in the auto making business looking for work at the same time.

And that is the reason Washingtons hands are tied!!!! The automakers know they have tied up Washingtons hand and can do much of anything they like. So, this will pass and the automakers will be back next year with hand held out. The cycle continues.

[1480]

Originally Posted by DeepIron

There were talks going on about GM acquiring Chrysler... It fell through due to the current economic downturn: http://blogs.motortrend.com/6341772/...ion/index.html

Thanks sir

[Skybird]

Originally Posted by 1480

Ah, isn't Chrysler owned by Daimler? Last time I checked Daimler is German....:hmm:

Daimler and and Chrysler separated again in 2007, after the cooperation proved to be a money-grave for Daimler. They lost ridiculous sums of money since Chrysler proved to be not competitive. The whole adventure was highly deficitary for Daimler - chrysler lost 35 billion in value, which had to be digested by Daimler as well. New owner of Crysler became the Cerberus Group.

[August]

Lets just hope that if they do get a bailout it is successful. If they fail anyways then we still take the hit and we're out the bailout money too.

[Hylander_1314]

Here's a good one. And watch the Youtube vid down the page.

http://market-ticker.denninger.net/

Why not send this to those pie in the sky we have unlimited ammounts idiots in DC.

[Blacklight]

and as I suspected, more than just the financial sector would want some of the cake...

There's already hundreds of non financial sector businesses fighting over it now.

Obviously their CEO's don't make enough money.

[Skybird]

I read some days ago that even this year more boni get payed to CEOs and top managers than the value of the bailout packages and this years finacial aids is.

Now you know in what pockets out taxes land - because since longer time european economy has been infested by this disease as well. The system of boni-payments has been shamelessly and dramatically exaggerated. Earnings in top positions are simply beyond good and evil - and then additonal boni, sometimes surpassing the basic payments by several factors...? It is all a pathologic excess, and it is bringing the economy and our societies to their knees, slowly strangling them, for the gluttony of a handful of individuals at the top.

This is unacceptable, this has to stop, no matter how.