Treasury ready to prevent auto collapse

Treasury ready to prevent auto collapse

There are 115 comments on the WOOD-TV Grand Rapids and Michigan story from Dec 12, 2008, titled Treasury ready to prevent auto collapse. In it, WOOD-TV Grand Rapids and Michigan reports that:

The Treasury Department says it is ready to prevent the collapse of nation's three largest auto companies given that rescue efforts in Congress failed.

Join the discussion below, or Read more at WOOD-TV Grand Rapids and Michigan.

Chuckling

Petoskey, MI

#83 Dec 12, 2008
master wrote:
<quoted text>
Should have kept your legs closed and maybe I wouldn't be paying for your brats lunches.
LOL good one, sounds like the husband wasn't slacking or lazy on some issues. He might of been a little over worked having so many offspring. And to get free lunches, wow not only does he have a good paying job, but also has tax payers paying for the off springs free lunches. Now whose stupidity is showing?

Since: Jul 08

Colorado Springs, CO

#84 Dec 12, 2008
Hmmm wrote:
<quoted text>
I think that McDonald's is what is wrong with America with all the overweight fat sweat hogs running around the trailer parks. We should be able to shoot them on sight. And no I am not jealous because I am slim and trim. McDonald's must be broken. Period. It's time.
Did we really just jump from a bailout topic to fast food and being overweight?

Maybe part of the problem to too many people can't stay focus on the problems around them, and instead work on shifting the blame and aim for entitlement.
Wonderland

Petoskey, MI

#85 Dec 12, 2008
Hehehehe wrote:
<quoted text>
If you are willing to work for half the amount, who is the REAL dumb a_s_s???
Seems like your the REAL dumb a_s_s. Must be a over paid auto worker that cant or wont face the real world. Most Americans make half of what an auto worker makes. By the time all the benefits and bonuses are added in there.
Sandra Sayers

Oscoda, MI

#86 Dec 12, 2008
As a retired Chrysler worker I can not believe that our political leaders have voted against a bailout for the automobile companies.

“I hear the Angels of Madness”

Since: Oct 08

Small town America

#87 Dec 13, 2008
Let's bail them out then maybe give them another tax break to ship jobs to Mexico or cut more workers from the payroll. That will lower costs it will never sell more vehicles.

“Go MSU Spartans!”

Since: Oct 08

Kalamazoo, MI

#88 Dec 13, 2008
People need to remember that the internal woes (union wages and protections, management issues, etc.) of these car companies are only part of the problem. Even if all of these things were corrected, the auto companies still need to be able to sell cars. In the current economic climate this is not happening. And with the current credit crunch, even people with good credit are being turned down for loans.

I hate to see any of the Big Three go down, and I don't think many people understand the ripple effect that has already started and how bad it will be for Michigan and the US economy in general if the Big Three we suddenly to cease to exist.

There are so many factors (outside of the companies themselves), though, on so many levels that will have to change for any of these companies to be able to survive.

“I hear the Angels of Madness”

Since: Oct 08

Small town America

#89 Dec 13, 2008
There is no doubt that our economy is being held hostage by the credit system in place which is how our entire economy is based loosely upon.

As long as those who with "good credit" are unable to get financing those below them will not either. 700 reasons for the banks to loan out the money but they are using it to buy up smaller banks instead or visiting Half Moon Bay.

Status Quo will continue as long as the cavernous hole between those who have and those who have not is so far apart.
No more UAW

Colorado Springs, CO

#90 Dec 13, 2008
Unbelieveable wrote:
<quoted text>
You don't know what you are talking about. GM builds quality and if you looked into that instead of talking off the top of your head you would know that. Independent J.D. Power Initial Quality Study scored Buick, Cadillac, Chevrolet, Ford, GMC, Mercury, Pontiac and Lincoln brands' overall quality as high or higher than that of Acura, Audi, BMW, Honda, Nissan, Scion Volkswagen and Volvo. Both the Chevolet Malibu and Ford Fusion scored better than the Honda Accord and Toyota Camry in quality. That doesn't sound like junk to me. These cars are just as fuel efficient or better than the Honda and Toyota. My husband is a GM worker and he is not lazy and not a slacker. We have five children and are eligible for reduced lunch prices at school. Does that sound like he is over paid? Quit spouting off about things that you don't know or understand. Your ignorance is showing.
You forgot to mention the two new cars you drive the six bedroom house you live in and that you yourself probably dont work.
Wow

Colorado Springs, CO

#91 Dec 13, 2008
Unbelieveable wrote:
<quoted text>
You don't know what you are talking about. GM builds quality and if you looked into that instead of talking off the top of your head you would know that. Independent J.D. Power Initial Quality Study scored Buick, Cadillac, Chevrolet, Ford, GMC, Mercury, Pontiac and Lincoln brands' overall quality as high or higher than that of Acura, Audi, BMW, Honda, Nissan, Scion Volkswagen and Volvo. Both the Chevolet Malibu and Ford Fusion scored better than the Honda Accord and Toyota Camry in quality. That doesn't sound like junk to me. These cars are just as fuel efficient or better than the Honda and Toyota. My husband is a GM worker and he is not lazy and not a slacker. We have five children and are eligible for reduced lunch prices at school. Does that sound like he is over paid? Quit spouting off about things that you don't know or understand. Your ignorance is showing.
You have 5 children and your husband works at an "unskilled" job--you should be able to qualify for reduced lunches. You should be able to get them for free but your husband is overpaid :)
Charon

United States

#92 Dec 13, 2008
Rob wrote:
UAW..... Wake up. Many Americans would gladly accept your jobs at 1/2 your wages and benifits. That is why public opinion is against any "loan" to GM or Chrysler.
Big 3 Execs....You also share responsabiity and must change the way your bussiness are conducted. Your saleried staff is bloated and also paid beyond what average non-big three white collar receive.
Really? that is interesting, Since 2005 I believe new hires come in at 14.00/hr at 50% that means 7.00/hr (below minimum wage) top out at 16.90 I believe so that becomes 8.40/hr.. how many of you informed people want to sign up?
Unbelieveable

AOL

#93 Dec 13, 2008
master wrote:
<quoted text>
Should have kept your legs closed and maybe I wouldn't be paying for your brats lunches.
I said we were elgible for reduced lunch prices. However my kids took brown bag lunches to school. Just a note here about my kids. They are not brats. They are nice, respectful, upstanding kids. They don't do drugs, alcohol, or smoke. They work and pay taxes and have not been a burden to society. You have not paid a thing for them.
acorn

Grand Rapids, MI

#94 Dec 13, 2008
Why is it that a Ceo's ( not just in the auto inst,) pay has gone up on average 400% while the average worker(white & blue coller) pay has gone up only 3% in the last 15 years. THAT is why the economy is in trouble. How much of this money could have been saved, by these companies to have the cash on hand for these hard economic time.
wirechief

United States

#95 Dec 13, 2008
This is not a long term solution, the next administration is going to have to do that, hopefully the workers will be protected. They need to give tax credits to help make new cars affordable.
Lone Stranger

AOL

#96 Dec 13, 2008
I agree that something has got to be done to help save this industry, but we can no longer rob peter to pay Paul.
regularguy

Middleville, MI

#97 Dec 13, 2008
GrDriver wrote:
<quoted text>
I have no idea which grocery store you shop at. Most cashiers are luck to make over 8.00 an hour.
I was listening to a radio station who had callers call in and say how little work they di for the highest amount of money. One caller, an auto worker got paid 85,000.00 a year to place a template inside of an engine block to ensure that all the proper holes had been drilled.
This is where the problem lies. 85,000.00 a year to do a job that should only be a 24,000.00 a year job. This is no one's fault but the unions. The union served a purpose when working conditions were poor or so were wages. Back then people worked themselves to death to barely make ends meat. Now days they get paid a huge salary to stand there and place a template in an engine block.
It sickens me that the scales have turned this much. I know that the only way to change it is for the Big 3 to go out of business. I know this means a lot of job loss and more pain for the country, but I fear that it is the only way to get away from business as usual.
At Meijer the older cashiers can make as much as 18 to 19 dollars per hr. Yes the young ones just start out at about 8.00
jim

Cadillac, MI

#98 Dec 13, 2008
As mentioned before, if you put 2 - 3 million middle to upper middle class workers on unemployment and public assistance, how much do you think that's going to cost. You will be looking at the mother of all tax increases.
I think their are a lot of people out there that do not realize Just what kind of effect that would have on our already weak economy, or how that would effect their own job.
Those 2 - 3 million people spend a lot of money helping drive our economy. They would not be helping support the economy, they would become an enormous drag on the economy. Even President Bush see's that. Do you really think he wants to help the automakers? He can see the cataclysmic effect another 2 -3 million unemployed Americans would have on our already weaken economy. He has never been a fan of the American automaker, so I'm sure if he does LOAN them the money it will be a very difficult decision for him.
The $700 Billion donated to the financial sector would have to be doubled or quadrupled in my opinion, and We can see how well that's worked so far anyway.
At least there's a good chance the money LOANED to the automakers will get paid back, unlike the DONATED money to the financial sector, which was totally given to them with no pay back provision and NO OVERSIGHT.
Do you realize that the $14 billion the automakers are currently talking about is only 2% of the money GIVEN to the financial sector.
AIG along has received $175 BILLION. No one even batted an eye when that happened.
I know their are some who will adamantly disagree with me and that's their right as is my right to my opinion.
We all will be better off if we keep America working.
Wonderland

Petoskey, MI

#99 Dec 13, 2008
Sandra Sayers wrote:
As a retired Chrysler worker I can not believe that our political leaders have voted against a bailout for the automobile companies.
Wow!!!! your still lost in dreamland then aren't you? You must be in disbelieve because it could affect your health benefits and pension. Its time the little people stood up against the three big bad wolves. Way to go for finally making a right choice for the taxpayers.
Johnny Tulip

Grosse Pointe, MI

#100 Dec 13, 2008
Lets just give them the money. Why not reward their bad business strategies? Maybe Hot and Now will get a goverment bailout and re-open. It is a good thing I am not a union employee. I would have a grievance filled against me because I am thinking and typing at the same time, and typing isn't in my job desciption. Maybe the Union President will take a pay cut? Bring in the SCABS!!!!!!!!!!
spazann

Thermal, CA

#101 Dec 14, 2008
DJH wrote:
Flush the UAW and bring in the temporary workers. The temporary workers would love to have a job and not cry about making $12 to $15 an hour. Let the people that work for the UAW call in for their unemployment benefits for a few months that will wake them up.
I work for GM and make 14 bux an hour-you don't have a clue what you are talking about
spazann

Thermal, CA

#102 Dec 14, 2008
Charon wrote:
<quoted text>
Really? that is interesting, Since 2005 I believe new hires come in at 14.00/hr at 50% that means 7.00/hr (below minimum wage) top out at 16.90 I believe so that becomes 8.40/hr.. how many of you informed people want to sign up?
yes you are right 14 an hour and really bad insurance, no retirement no dental no vision

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