Why can't the Big 3 borrow money from the bank?
Since they have aplan on how to survive or even to be profitable.

Govt has bailed out the banks and it is the banks' turn to help the auto industry.

Ask automakers if they be willing to take half paid cut to keep the company alive. If not send them back home with their hands empty. After all, this is a time for all of us to make sacrifice.

Perhaps us taxpayers would support the bailout if there
was confidence the automakers could honestly change the
incompetent way they've done business for the last what
40 years…telling the American consumers that they offered
vehicles they say we said we wanted. The reality is they
just marketed to the American consumer as such while they
were covertly in bed with the oil industry, getting corporate
tax shields, other bailouts (yes, we remember) and handsomely
paying their top executives from the once high profit margins.

Yes to a bail out but make the UAW make DEEP concessions to put them in line with other workers and MANDATE that they make acceptable cars that will sustain their businesses after they have paid us back.

Let's get something straight: THEIR CARS SUCK. Perhaps this is the only thing that truly needs to be considered.

I think they should get aid.. but not the kind they're asking for.

Let them file Bankruptcy, re-organize, slim down… start again with a leaner and hungrier company… then use the money they're asking for to invest in research and development of more fuel efficient vehicles. It's a win/win situation… they get their money.. but that money goes to securing an energy future and the future of those companies, as opposed to paying for all their mistakes.

I can not belive the senate and or the house is trying to tell sombody,actually anybody how to run a business.Look how they run the goverment(health care,social security).thats just two of the examples.Were in trouble when the tail is wagging the dog!!!!!

"Oh you Americans! You're so gullible! We'll spoon feed you socialism until you're Communists and don't even know it. We'll never have to fire a shot!"

Nikita Khrushchev

maybe….just maybe the problem is workers who make 55 bucks an hour and who strike because they arent making 60 bucks an hour with 4 weeks of paid vacation double overtime and benefits many would kill for, to sort bolts and weld….

Years ago when I worked at a gas station I had tons of these guys come in and complain about their wages and benefits….while I stood behind a counter at a job I could get shot at…and made 7.25 an hour.

Seriously wanna blame someone…blame the Unions for too much of a good thing.

Conversely, paying CEOs 40 million after you fire them isnt smart either…not by a long shot. Corruption and stupidity in business is not something to be rewarded with a golden parachute…this situation has alot of factors, maybe if the workers took a cut on wages and their over developed since of intitlement and the ceos stopped buying 50000 dollar umbrella stands we could rebuild our economy a bit faster and better.

I understand that the C.E.O.'s of the big 3 coming to DC with a tin cup in hand as they stepped off private jets is bad on the surface, but for the most part it is unimportant. If these companies fail those 3 executives will be just fine, with millions tucked away, but almost 3 million workers, 9-5, lunchpale workers who scrape to get by working the line, those are the true victims of inaction, and focusing the story anywhere but on there needs is criminal. Yes the automakers need to demonstrate reform and a new business plan, but we can't get sidetracked by grandstanding politicians and semantics, real people, people who wont be able to easily dust themselves up are the ones in the firing line, the blame game can start along with the punishment one they are safe.

anyone who does not think that the big 3 failing would effect them obivously has no concept of economics.

Sad to say, but most of the people who respond to this proposition do not consider the main point of the situation. This country should never allow the auto industry to fail. A total failure would immediately wipe out all of the anti-depression measures the government has taken in the past 3 months. The country, and the world would, within six months de in a deep depression that would be disastrous because this country would very possibly be unable to defend itself in the case of a national emergency and could very well mean the loss of up to 10 million jobs within six months. Once it is gone, it is gone forever and we would then be at the mercy of the Japanese and Germans for all our transportation needs. Also, There is nothing that says the auto industry in these countries will survive a deep, worldwide depression.

Maintaining an auto industry is a matter of national defence. This is the only remaining heavy industry capable of producing the necessary materials to conduct a major war if necessary.

I read somewhere that $700 billion divided by the number of TAXPAYERS in this country comes to roughly $250K each. Why not forget about bailing everyone out and give this cash to the TAXPAYERS? They will pay their bills, buy houses, cars, etc and get this economy going again. 2/3 of our economy is consumer driven..put the TAXPAYERS in the drivers seat and let us start driving!!!!!

IF WE ARE GOING TO BAILOUT MORTAGAGE COMPANIES FOR BAD DECISION THEY MADE WE SHOULD BE ABLE TO BAIL OUT THE MOST IMPORTANT WORKFORCE OF OUR COUNTRY.

THERE IS NO AMOUNT OF MONEY WHICH WILL SAVE THIS SHAM OF A INDUSTRY,FOUR DECADES OF GREED AND EXCESS,WILL NOT BE CORRECTED BY ANY AMOUNT. THE CULTURE WHICH HAS PREVAILED SINCE THE SIXTIES WILL NO LONGER FLY, IN THE FACE OF WORLD COMPETITION.REAL CHANGE LIKE STRONG MEDICINE OFTEN HURTS DEEPLY…..YOU MAY OR MAY NOT MAKE IT, INACTION IS A DEATH WISH,LET THE CHIPS FALL WHERE THEY MAY!

I think the Big 3 blew it over and over. When they knew oil was going to be a problem, esepcially after 9/1, they gave us the Excursion and the Hummer. The government, which should have pushed for higher mileage, turned a blind eye. The CEO's should suffer for the decisions they made.

Problem is, they won't. The workers for the Big 3 and all of the companies down the line that supply them will suffer. Further, if the Big 3 go down, so does Michigan, and maybe Ohio and Indiana. Tough decision to make.

No bail out. NO BAIL OUT! The airlines survived bankruptcy and so can the auto industry. It's not enough to own banks and their corrupt securitization process, now we have to own car manufacturers who make cars that we the consumers don't even BUY!? They should've been smarter a long time ago.

I dont understand why we don't simply put mandates on the Auto companies in exchange for our money. Let's demand that every new car model be hybrid-electric by 2012. Let's demand that our money be used to pay for fuel efficiency research. Let's demand that no new SUVs are created and that the Hummer brand is removed. Let's put the auto companies to work building electric buses and alternative vehicles for our cities and municipalities. WHY ARENT WE TAKING THIS OPPORTUNITY SERIOUSLY???? It's infuriating. We want the auto companies to change, we need to save our environment, and we need to stop relying on Middle Eastern and foreign oil. What better opportunity than now?

Something does need to be done because if the whole auto industry collapses there will just be millions MORE people out of work.

The CEOs and other high management people need to cut out their BONUSES! This is where all the money goes! It happens in ALL big businesses and it's really pathetic. I work for a large business and see all of the waste that goes on. Management doesn't know what it's doing most of the time. We have managers who "travel" all of the time for pointless meetings, mainly, from my point of view, to get frequent flyer miles! I don't know what the answer is but the auto industry needs to prove that they will do the right thing, create eco friendly cars, etc.

We definitely need to quit sending jobs to other countries. Who is going to support all of these out of work people! The whole thing is just a dominio effect! The young kids graduating college won't have any jobs waiting for them and seniors won't be able to retire when they should.

I'm really afraid for what's to come in the near future. I feel for Obama. He has a monumental job ahead of him for which he will be blamed, unjustly, when things aren't "fixed" in 6 months! Bush has just ruined our great country.

We have to help them because 1 in 10 American jobs is riding on their success, even with bankruptcy, which has the advantage of wiping out the obscene retirement benefits, huge salaries for white collar and greed laden union deals.

I say Chapter 11 to free them from the contracts, then oversee the restructuring.

You can make a profit building cars in America. I didn't see Honda or Toyota, both made right here, at the table. Why? Because they pay their NON-union workforce well, give them substantial, but not obscene, benefits and offer retirees a fair package. And they don't pay themselves $21 million a year – Mulally's salary at Ford.

Time to go back to "go."

You know, the auto industry actually worked hard so I do want to give them a chance, but Wall St really DOESNT deserve bailouts. They sit around and cheat on the innocent.

The big three are not the problem, congress is the problem. The big three are supposed to present a plan for a 25 billion dollar loan, and the executives are supposed to work for $1. What about congress? How about they give us a plan to stop the out of control spending, trillion dollar debts, and a "viable" budget. Oh, and in the meantime they can work for $1 a year, until then. How about that?

Surprise. Yet accouding to Legilative services for the congress 92% of email sent to the hill also apposed the $700B . So it does not matter, congress wil do what it wants to do, not what the voters want congress to do.

Obama voted for the big bailout that taxpayers have to pay for but he is giving us a little tax cut. He is out to screw us folks. It's just a slow one so we don't notice it so much.

Everthing from the auto industry to Mickey's D's will go down the tubes. It's not just them, but entire businesses will loose, think about that, there is more to this than the auto industry. If and when that happens there wil be no more bloggers because no one will be able to afford it. For once I wish people would think about their families and grand-kids instead of their own interest, that what is wrong with this world, too much of the "I ME" syndrome.

When average citizens get into trouble because of poor money
managment, they may have to file for chapter 11, after doing so
they are forced to see just how the mistakes they made,brought
them to that condition, then if they have learned from these
mistakes they change the way they manage their finances.

These Auto Makers must experience the sum total of all the past years when they should of been making cars that were very good on gas, or whatever else was out there, such as alternate energy.

They should not be bailed out !!!!! They will survive and do just fine !

They need to change their very bad ways !!!

Rewarding them with huge sums of money is not right at all, it
teaches them nothing ! And they have a lot to learn !

The vast majority of voters opposed the bailout on the FIRST vote, but your legislators didn't care.
If you subsequently voted to re-elect them, this is YOUR fault.

HEY LIP,just sit at an intersection and watch the vehicles that you see. Count how many are big SUV'S trucks etc. Tell me why Detroit built them? Oh yeah, people wanted "them". WE did it, they built what the majority of people wanted, so now people start to complain, doesn't make sense to me.

Bye-Bye, "Big Three"! Every American car I've purchased in the past 30 years I've hated and traded in to get a Japanese car. They failed to see the writing on the wall and kept building those monstrosities with horrific gas mileage. They did not keep current with the times and this is why they're ready to go bust. Good riddance. I am sorry about the jobs lost, but why prop up something unsustainable? I'm tired of my tax dollars going for companies who can't pull their heads out of their rears but are more than willing to line up at the tax trough when it looks like the party's over and they don't want it to be. Let the CEOs wait in the unemployment line like so many of us are doing. I'm still ticked-off about the Wall Street Bailout. NO MORE MONEY FOR INCOMPETENCE!!!!!

Screw this auto makers!!!

They had all the time in the world to make auto vehicles for the 21st century but their conivance with "oil" crooks would not allow them.

Where is LEE IACORCA? Please guys read this able American's book and you will see – what is plaguing the auto industry is not new and it is absolutely avoidable.

Once more, screw these guys!!!!

If the auto-industry gets help, their CEOs need to bankrupt their salaries first.

The gasoline powered automobile is dead. We should as much bail these guys out as bail out the manual typewriter manufacturers. Guess what, typewriter manufacturers moved from manual, to electric, to computer manufacturers without cent ONE from the taxpayer. These idiots have refused to make even the slightest adjustment for safety or energy efficiency without government forcing them to. I say good riddance.

How many people opposed the financial bailouts though? 80%? 85%?

Take the money back from the banks, they're not using as it was intended. Give it to Detroit with managerial and green-development strings.

Greedy men who want more money because they were too selfish to think of anyone but themselves. And now WE have to pay for it. Congress should be ashamed of themselves.

They should get zip, nada, nothing. Let the auto companies go out of business and come back with fair prices and better cars. It's called the free market. Why should we have to pay for a free market?

It doesn't matter what the "majority" thinks. The unions run the Big 3 and God help anyone who doesn't vote for the bailout. So Pelosi, Reid and the rest can stop posturing. You are going to pay up, come hell or high water and Mr. Obama is in the mix. He is so lucky that he is not in office till Jan. Right now, he can throw up his hands and say
"there is nothing I can do." That won't be true once he is inaugerated.
What he does with the auto business will tell you whether the
"change" is a plan or an election gimmick. You only make one deal with the devil, he doesn't like to renegotiate. Mark my words. The bailout will go thru.

So many people don't truly realize what failure of these companies would mean to who knows how many people. For starters their employees would lose their jobs, UAW retirees would lose pensions and benefits dependants of current and former workers would lose health coverage, people would lose their homes, the loss of jobs would most certainly affect the economy of the towns in which they are located. for example one factory employees 1000 people, if that plant closes; the loss of revenue to grocery stores, retail stores, restaurants, banks, hospitals and other services and goods could truly devastate the local economies causing even more job loss.
The government will lose more in the long run (by way of income tax and corporate taxes from the loss of jobs failure would cause) than it will cost to bail them out or simply have money there just in case as is the case with Ford.
But hey, people in this country are all about ME ME ME. So let's not worry about the millions that could be affected by this and keep the very small amount that it would cost per person to prevent the failure.
Oh yea let's not forget without the big 3 we all are forced to buy imports and support the economy of Asian countries a little more.
Out with the old in with the new.
Give them what they need to survive, let them provide an incentive to buy American again and we all win.

Why should we taxpayers be required to pay higher taxes to support lazy, worthless UAW retirees who made tons of money and now expect us to pay to continue their lavish lifestyles???

Billions of taxpayer dollars are being given away to entities that have, over the years, maintained very, very poor business practices. The banks granting loans to customers who lacked any insight into the business and had no hope of repaying if the value of the homes plummeted or they lost jobs or sustained an illness or injury was unforgiveable……and costly. Now the "big three" wants its share. We're asked to ignore the facts that 1) the head honchos have been overpaid for years; that 2) energy efficient automobiles were available from these companies, but were sold overseas; that 3) unions have obtained wages and benefits far too high for the work done. Since the answer appears to be the printing of more money (inflation), increasing our debt to Japan and China, and letting the American taxpayers foot the bill, I wholeheartedly OPPOSE the proposed bailout.

These robber barrons ran these companies into the dirt. Reclaim all of the salaries and bonuses FIRST, then come see me. You can't sell crap in a good market or bad. They need to go to bankruptcy.

They are having all these troubles because Americans are not buying their cars. How is that going to change with a bailout? I personally LOVE my Toyota Prius which I purchased new in 2007… there is nothing even close to a Prius in a so-called "American made" car (and my car was made in Portland,OR, not Japan!!)
And when is the government going to pay off my car, house, and Visa bills?? Oh, they're not?? I should have been more responsible? Hmm. Yep, the big 3 should have been, too.

Want to create jobs? Want to build for the future? How about using taxpayer's dollars to create jobs burrying powerlines, then have a car that is ready to hoover over the ground or fly using electricity and solar power? It will create jobs that will last for at least 40 years and become independent on foriegn oil.

I cannnot believe how ignorant people are about Unions. Without Unions, we would work for $1 an hr, and have nothing but sweatshops. GOD BLESS THE UNITED STEELWORKERS OF AMERICAN AND ALL THE OTHER UNIONS IN THE AFL-CIO.

No, no and no bailout for anyone.

No bailout. I don't believe the top guys would willingly give up the $$$,
they'd just figure out another way to get the cash. I feel the money would go down the black hole and they would fail anyway. It looks to me that they are hysterical since their personal source would dry up.
Restructuring might be a better road…

The UAW should not have to give an inch. Why should the UAW workers be asked to give up $60,000 – $89,000 jobs, guaranteed wages when laid off, full medical coverage and our leave and absence privileges. The UAW should wait this out because Congress will give up the dough. They know we control who gets elected. Cutting Saturn loose makes a lot of sense because they have fought bargaining since day 1 and they do nothing but cut into our small and midsize unit sales beacuse they make cheaper cars

Let 'em fail!
Pull the money back from the banks, too!
Who cares that it will drive us so deep into a depression even those of you who smugly think your pensions are safe will wonder what happened.
Give the loans not with 'strings' but with ropes; make the conditions of the loans significant and meaningful. With 3 million plus jobs and my grandson's future at stake, it would be irresponsible to do otherwise.

A waste of taxpayers money. They big 3 are suffering from decades of making substandard cars and very poor decision making. They may have better cars now, but it will be decades before anyone believes in their quality again. This was going to happen…economic crisis or not. They have been losing market share for years now…selling SUV's that don't make sense anymore.

NO bailout. It is throwing away money.

let the government give us the taxpayers the money, so that we can buy cars for cash, payoff bills, and stimulate the economy that way.

LIP @ December 3rd, 2008 12:31 pm ET,

Not bailing out the auto industry is equivalent to killing the child, not punishing it.

What do they know. I am sick and tired of ignorant people making life changing decisions for others. I can understand why people may be angry at the leaders of these Companies but I can't seem to fathom the reason they despise the Company workers too. After all, the loan is to help save people's jobs and the last time I checked people that work in the fcatories and related auto industries out number the people in management. So, can people just cut these people a break.

And a majority of Americans were against WWII until Japan bombed Pearl Harbor, and then they were still against going to war with Germany.
The automakers represent the largest single component in your manufacturing infrastructure.
As such they are responsible for 1/3+ of the US economy.
Allowing the big three to go under would be like letting farmers fail.
It simply cannot happen.
And remember, most farms don't make money without government help.
So all you high and might free market folks need to reconsider your priorities.

The voice of freedom is again censored by the CNN, very sad…

Do any of you people understand how Chapter 11 works? Who are we going to get to be the financier so that the company can keep running while we're in bankruptcy?

Secondly, do you know why people like Mitt Romney want Chapter 11? To break the UAW and get rid of obligations that these companies have to their retirees. When their pensions stop being paid, where do you think they're going to get money from? That's right, the federal government, though the Pension Benefit Guaranty Corporation

The knee-jerk reactions to these complex issues are going to be the detriment to our society, as you people shooting your mouths off over things that you haven't taken the time to study are influencing your Congresspeople to vote against the best interests of the people.

if they can afford to work for a dollar a year then why in the world would they need a bailout. NO BAILOUTS!!

The Big 3 should be asking the oil industry for a "bail-out" loan, after all they supported and listened to the oil industry instead of the American taxpayers they are now looking to for a "loan". We have asked for decades for fuel efficient automobiles and they have continued to produce gas guzzlers, making the oil industry happy. So, in their time of need, let them go to the ones they have made a fortune for. The oil industry has all the money the Big 3 needs for a "bail-out" loan.

Let them the auto compaines get the loan from BIG OIL, did not those guys record windfall profit??????

Is this not a democracy, should I not have a say of where my money is spent… This is NOT a communist country, why should I have someone tell me where my money is gonna go… THIS IS MADNESS.. LET THEM A^& H@#@# KICK ROCKS!!!

no to bail out as it stands only a bankruptcy

Who are all of you heartless people who don't see the benefits of saving the car industry in America just to get rid of unions. Unions are necessary and useful, and over the years I have seen them do a lot of good for individuals and this country. You all should stop listening to the hateful conservative rhetoric that republicans try to brainwash everyone with, and use your own brains. Conservatives only talk to create more and more hate towards our fellow men and women, because of their own greed. There is a very large workforce at these auto companies, and they all should not be made to suffer because of poor management personnel. If the auto makers are willing to make the necessary changes to improve their companies, why not help them out of this bind, and expect repayment plus interest to the taxpayers?

The fat cats at the top should be scrutinized for their failings. But so should the greedy and selfish unions. Is there anyone out there willing to take them on? Their greed and lack of intelligent foresight is just as much to blame as the executives.

American automobiles are just starting to turn the corner in quality and being able to compete with their European and Japanese counterparts. If they go under now, this will completely eliminate such movement. I agree that they should reorganize their fundings (Ford can recover without Bailout, they just want it as a safety), and return to the old days of business. (Fly consumer, no business cars, one week vacations, and lower, more realistic salaries to administration) Seriously, there is no reason their CEO should be making over 1 mil a year… one does not need that much money to live. The CEO's all agreed they'd change their salaries to $1 a year if they get the bailout. That helps, but what about the rest of administration? Have the Big three weed out unnecessary internal spending, and if their still under then maybe we'll offer them the minimum of what they need to survive.

The bail out is going to happen. Pelosi is only putting on a show for the commoners. Unfortunately, giving them money is like giving money to a relative that always seems to have some crisis. As many say, until they totally change their culture, they will never succeed in the long run. They will never compete with the huge pension/salry/benefit packages that they are chained to with the UAW. Say what you like, people drive foreign autos because they are superior in terms of quality, dependability and factory empathy. It might make some feel good to say that foreign vehicles are cheaper, that is not true when you compare model to model. All the foreign manufacturers that set up their plants in the US do so in the south or other rural areas. Why, because no unions and lower insurance, etc., not just tax incenives. The big three are not taking any responsibility.

What's the big deal ? What they're asking for is only 3 months worth $ in Iraq. Where is the outrage over that ?

Well you know if you're going to bail out one group you might as well bail them all out.

The RV manufacturing is having a bad time.
The Farmers are having a bad time.
The restaraunts have been having a bad time.

How about we all get a bail out.

I am outraged that poor management and improper planning means a "taxpayer bailout" for the Big 3.

Further outraged by showing up to ask for money in private jets too.

However, lets be consistant people. Where is the same outrage when welfare recipients drive around in Escalades and the like????

Something has to give,

ENOUGH OF THE HANDOUTS!!

I can count on my Senators voting NO on Obama's bailouts…

It truly amazes me that the country allows:

Wall Street paper pushers to get a $700,000,000,000 welfare check

AIG insurance to get $150,000,000,000 in relief (to spend on spa treatments)

BUT the three Auto Makers (the folks building, creating, making autos – these are American made cars that support Americans), get nothing to keep them from going under?

Definitely something wrong with our priorities.

The automakers and the autoworkers nationwide need the bailout. They never should have bailed out Wall Street. The automotive industry is another story. We need to support the autoworkers with the bailout.

Countless automobile companies have gone out of business over the last 50 years. 3 more is not going to cripple America…

let them fail.

let them go into bankruptcy and aution off thier plants and designs like any other company.

let someone (or some group) with some cash and fresh ideas buy the plants (or a plant) and some of the techology and start their own brand of cars, (heck we bought korean cars no one knew anything aobut I am sure Americans would buy cars from some start up company!) maybe with enough different manufacturers out there competition would cause them to build better cars, amybe one company could make the big luxury cars, another make small fuel efficient (notice I did not say gas efficient) ones, and who knows maybe someone else could make H2 cars or total electric or soem with a design that doesnt look like everyother one!

this country is soooooo in trouble.

It's like Doofus Binden said, Obama will put America's opinion aside, and though it may not seem like the popular thing to do right now, we must also use our vast liberal influences to presses the agenda.

The audacity of hope or political payback??

Government Bailout = 100% Socialism.

Is this the America that we want?

I work for a Fortune 50 Telecommunications giant. We employ thousands for employees all across the globe.
However, for the past several quarters many aspects of our business have been operating in "the RED".

If automakers can line up for a taxpayer bailout; can our industry be next???

Regarding Beckster's comment……WHO IS JOHN GALT?

Well, Beckster…….Atlas IS shrugging. Just look around you.

If the big 3 built quality vehicles at a cheap price – like the Japanese – I would agree with bailing them out. They must automate the factories, cut labor costs, dissolve the unions, build fuel efficient cars, build quality cars then they can have my tax dollars.

I oppose the auto bailout. It's not the American way. We are a capitalistic society…..you eiher succeed, or you fail. That's it. If the American automakers were making what buyers want, as Toyota and Honda are doing, they wouldn't be in this mess. They brought it on themselves.

Besides, there was NEVER any talk about bailouts for automakers Packard, Hudson, Kaiser-Frazier, Tucker, AMC and others when they went under in past decades. In fact, they were typically driven out of business by the Big Three and no one blinked an eye. It was a vicious marketplace. Still is.

I find it very sad that so many people wish to see the BIG Three go under. So many people wishing to see Millions of individuals lose their jobs, pension, everything – to see retiree of these three organizations lose their pension and insurance. I did not see you calling your elected officials when the current administration decided too spend 18B a month to help rebuild school, hospitals, etc, in Iraq-
- I guess you rather see your tax dollars helping someone else and not the people living in this country.

I believe in helping people – but I also believe that I should help those in my on house first – when their needs are met then I should help those outside. It just seems stupid too feed everyone else -while your own family starves to death.

To everyone in this thread who think we should bail out the big 3 because of the ripple effect their downfall would have – the big 3 have done nothing more than allow other countries to dominate the world auto industry, including within our own nation. If all we would be doing is throwing a bailout to Ford, GM, and Chrysler to only delay what would be the inevitable collapse of them because the executives, strategists, and planners of these companies have no clue how to compete, then I say let the collapse happen now so that we can move on and adjust. Otherwise, I firmly believe that if we give the big 3 a bailout now or in the near future, eventually, they come back with another lame excuse as to why they need another bailout, when the real excuse is, the executives have no clue what they are doing.

How about a plan to merge a couple of these two companies together, then put someone in charge to run the show?! This is something worth investing in.

I think the automakers should go to the oil companies for loans/bailouts. After all, autos are what keep big Oil in business – it's in their interest and they surely have the money. Big Oil won't require the US automakers to build fuel efficient cars, so Detroit can continue their foolish ways without my taxes… When Big Oil can't afford to give them a ride anymore – oh well.

The "bailout" for the Big Three should instead be targeted at the workers – offer training in something that lets them leave their current employers and work in industries that are self-sustaining. Like maybe the new green jobs Obama has promised.

If employees of the Big Three are unwilling to retrain – it's their problem when the Big Three go bust in a year or two…

I object to having my tax dollars go to bailout the UAW. Let the automakers file for Chapter 11 and renegotiate the onerous contracts that have been made with the UAW. Detroit automakers make money outside of the US. Foreign automakers make money in the US because they don't have the weight of a corrupt union on their shoulders.

I don't like the idea of bailing out any company, but what about all the workers, what about the idea of rebuilding our manufacturing infrastructure, from where do I buy cars if Americans aren't making them? I think we need to help out some in the short run to get the economy going again in the long run. And why couldn't the bail out be tied to producing 'greener', more fuel efficient cars? Wouldn't that help us all out?

Thats a tuff one. I do not own an American car. If they would make a better car, I might buy one. Everyone says "Buy American, or your not patriotic". No…I am just not that stupid to spend 20 thousand of my hard earned cash on a piece of crap. If I am going to spend that kind of money, I want to know that what I bought is going to last me. Unfortunatley American cars are crap. Why should I bail them out?? If they would make a better car, we would buy more. I have to give my money to Japan just to have a decent car that I know will not be in the shop. That makes me angry. I would much rather give my money to the country I love in and love. Unfortunatley the American auto industry refuses to invest money into building a reliable car. But then again, they would not make all that extra money we spend on parts to correct what they did not do right in the first place.

I own a small business, when a bank gave me a loan of 350K while back, they wanted a detailed business plan, all my finances and what not, stack of paper was unbeliveable.
These gents-CEOs they agree to 1 dollar pay, what about bonuses, if this is their compromise than I say big fat NO. We need to see some plans of future cars, what kind of engines they are developing for more fuel efficiency, when should we expect those, what about lower emissions, etc. This is what I want to hear not playing with words they will work for $1 a year, and than take a couple million dollar bonus.
You might think american people are stupid, but you might be in for a surprise.

A Loan is what the Big 3 are asking for. The results of a denial of a loan to keep going s the loss of thousands of jobs all over the country.

If you think this won't impact you, think again! Millions of people rely on these jobs, so the loss of these jobs will result in the loss of millions of dollars in the economy, and then, it's your job that will be lost as well. The CEO's have made some bad decisions, but don't hold that against all those who work very hard building the cars that keep you rolling along, and keep spending in your community to keep you working.

No bailout for the "Big 3″ – let them file bankruptcy reorganization – I am so tired of the scare tatics by all the "top execs" of these companies and the fear mongers in Washington who forsee a collapse of the free world if we allow these businesses to fail or reorganize – stop the madness! No more bailouts for these companies and corporations – it is time that THEY step up to the plate and suffer the consequences of their actions – it is time to get back to the fundamentals and the basics – starting at the top! Stop the executive gluttony of outrageous salaries, bonuses and perks get out the boardrooms and go back to the "drawing boards" – restructure the companies, make better,fuel effiecient,affordable vehicles talk to the consumers and the people making these vehicles get ideas and suggestions from the people on the factory floor – be a part of the solution not the problem – throwing money to these companies has not worked before – wasnt it Einstein who said the definition of insanity is doing the same thing over again and expecting different results…..time for a new approach!

Sadly, it is too late to say NO. Whether you like their products or their management or not……the resulting devsation to our economy that will enuse from a bankruptcy of one of these giants is unimagineable. What no one seems to "get" here is that these companies OWE BILLIONS of dollars to other companies. To pension funds….not their own pensikon funds, but hundreds of other funds that own their bonds. You people are not thinking. If the Big 3 file, they won't pay back what they owe. The ripple effect of the subsequent bankruptcies and closure of thousands of their suppliers, dealers and affiliated businesses…..all of whom are owed money from the big three…. would be enormous. It will affect us all. Millions of people would lose their jobs. So please be really careful you know what you are asking for when you are against the loans they are seeking.

I have been in the automobile business for 28 years. I fully understand that the "big 3″ need an overhaul. But, while everyone is calling for heads to roll and not supporting a bailout I hope you take into consideration folks like me that work at dealerships that will also be losing their jobs if this doesn't take place. It's not just the CEO's and the UAW that are going to be out of work.

Our political system has been totally corrupted by big business. Now as George W. and company leave office, we are presented with more and more insults to the injuries big business has already caused this once great nation. The 700 billion bank ballout that Paulson has no idea how to use, then other proposed corporate charity proposals by "Dear George" 200 billion here, 800 billion there. Now the auto companies' charitable bid. What will it take to stop all this nonsense — a civil war?

The big three are like three black holes.
They have to shape up or shipped out.

The reason Americans aren't buying cars is because evry family already has two or more.
I live in what is considered a rural area. The roads are covered up.
The market is flooded and so are the roads.

We dont like the idea of bailing an industry that has been so reluctant to change business practice.

If there is a bailout then it should be to bail out the families who work at GM. Make sure there is health coverage and other expense for a time that they can start to work in other places. GM has not listened to what the world is doing. Approach of these companies is strange and scary. ..we have built the Chevy volt, all electric, but Batteries not included. The car alone will cost 26k. without the batteries. I don't understand. Probably no one does. Not even GM themselves. When VW, audi, Mitsubishi are dong 6 speed high performance, hi tech quick shifting transmissions. GM offers 4 speed auto on the Malibu. It wastes fuel.This car actually LOOKS good. GM has had much opportunity and power. But they have not learnt anything. We can't make 'em. They don't have a clue. It is probably ok to let these companies die. Any smart engineers from here will hopefull create their own autocompanies to make fuel efficient cars. With ideas and solutions that GM did not listen to. Make cars that are smart and well thought out, those will sell. Vehicles that big sports or hiphop/rock stars use and companies hope that this will start a trend, is just not going to work anymore.

This is a toughie.On one hand,where do all these bailouts end and why should any of these automakers be able to survive their own
unsavoury business practices?On the other hand,throughout North America,one in ten jobs are directly or indirectly connected to the auto
industry.So what is the real answer?Either way seems to be a losing
proposition unless the"big 3″ have some serious restructuring to their
product and business plan.

If no bailout is provided, I don't think the auto INDUSTRY will fail — just the so-called Big 3 automakers. The foreign automakers who build cars in the U.S. will be unaffected. They may be able to expand production to fill the void. After all, it's their vehicles that we've all been buying because of their quality and price.

They should swim or sink–they are definitely marching to the wrong tune and have for years but its too late–our landscape is filled with ugly and I mean ugly–I dont care how much they cost-they are UGLY!!!
Bringing the cost of gas down is a way to help these people fill up their ugly trucks but now that the election is over the cost will go back up. Our houses are too big–mini -mansions who needs them????? Speak to the developers and tell them to smarten up and they build them in a week cheaply–Let us encourage Quality not Quantity and smaller is definitely better–No one should need to sit in a huge car to feel powerful-its bogus!!!!!

The People oppose the automakers bailout. But Obama is in the pockets of the corporations.

Will Obama listen to the people or to his big corporate donors?

BS not Maverick writes: "Only then will I and millions of Americans consider using our tax dollars". Uh, I hate to break it to you ,but we the people have voted at various times and we are not in charge right now. It is great you wrote to your representatives though – good for you. I will too.

Politicians like Obama will tell you everything is OK now, stop checking up on the government but don't believe it. We need to stay involved and keep things as honest as possible.

American people have never been the smartest in the world,
we can find so many way's to screw each other over and
even kill each other, even in a Wall Mart around the holiday's.
Let the American Auto Industry die and see what happens
to this country, armed robbery, home invasions, every other
way to get a buck, better start building more morgues for
the bodies, sorry, I forgot the suicides.
My moms parents came over from Russia and Germany,
bothe Germans, her a Volga German from Frank Russia,
so that's why I think we need to help them Europeans
care about there workers.

Do we really want 10% or higher unemployment in this country?

A bail-out isn't the answer, because it won't fix the problems that got these companies into their current problems. We should force them into Chapter 11, which will permit them to do some badly needed restructuring.

Companies need loans to weather Chapter 11, and there are valid fears that these loans will not be available. The gov't should guarantee these loans and also guarantee product warranties. That would reduce the taxpayer burden while helping protect this major American industry to become competitive once again.

Well, this is fair! Throw billions of dollars, no strings attached, at the financial industry so they can go on extended vacations, and then expect the auto industry to crawl into Congress and beg for the right to exist. What are our priorities? Do the auto jobs mean nothing? If the industry collapses, and several million more people hit the unemployment line, just who do you think will be bailing all those folks out when they lose their homes, and come to the local churches and food pantries just to survive?
And if we, Americans, do not help the industry to retool and put people back to work, what then? We are truly at the mercy of the foreign automakers, are we not? I say help them out (they are asking for a pittance compared to AIG, who barely had to attend a hearing to get their money) and help America grow again.

I think that we're starting to see that the greed and gluttony of big industry doesn't pay off. Caring less about quality, your workers, and your consumers, and more about how much more you can stash into your Swiss bank accounts is so out of fashion now. It's interesting to see the quick reactions of folks when their lifestyles are threatening to be lessened, when front line workers are losing their jobs and their homes.
Back to basics- quality, economic equity, and customer service. DUH!

We need to help the AUTO industry out and retool them for the future. Auto is going to create millions of jobs. Dont lose faith in our auto industry. Wall St doesnt deserve to be bailed out. Think future jobs. Every company needs to be rescued and retooled for future job growth. By the way, how come there is no oversight of Wall St or Greed St? We gave them 1 trillion and didnt demand anything from their CEOS. This means, expect GREED on Wall Street to do what they've done before, messing things up. JUST RETOOL THE AUTO INDUSTRY AND WE'LL BE FINE. It's easy to say let them die, but that's going to take it HIT on taxes.

My opinion is the automakers should file bankruptcy and start over.

Why would anyone want to pay unemployment for these people instead of lending the carmakers money to retool for energy efficient cars.

Without some form of major change in how the CEO are compensated I am against any bailout. We have seen what the banks have done with their bailout( bonus for the CEO and dividends for the shareholders). I believe we should give the money to the people and we will get the economy started. A simple concept maybe too simple for those who think they know best.

No bail out for the auto makers!!! They priced themselves out of business and frankly, I don't want to throw good money after bad. Take those $22 million salaries each of them has, combine them, and bail themselves out! No more bleeding of the regular folk, please!

You're right,let the Labor Union take a hit like us too!!

You people just gave the Big Banks $700,000,000 billion,and dont you dont know where it is,yet you cry over 25 billion dollar loan?You people are dumber than I thought and I see some greeneyed monster here as well.

WHO IS JOHN GALT?

I will not be affected, but a bail-out is better than a bankrupcy. With a bail-out we might stand a chance of getting some money back, I do'nt think so! We also do'nt need more people on unemployment. This was'nt what the money was for, So we'll soon be seeing more money thrown into the seemingly BLACK HOLE of the wealthy!!

File bankruptcy—let the ripple effect begin now—not later.

Rick in Wa…. I suspect that another 4 years of Bush/Cheney and we would not have to worry about a country to rescue. Obama is circles around Bush/Cheney when it comes to ability to handle this mess.

No way this is just a bail out for the greedy union, won't really help the companies or us at all. Democratic payback for all the support the unions gave to ACORN to steal the electiion. Paying for unbelievable retirement and health care benefits for sloppy, lazy UAW while my 401(k) shrinks and I am not getting any help. Let them live under Hussein's Universal health care plan and the Social Security fraud the Democrat's have perpetrated for so many years.

Why did no one suggest that Wall Street did not file Chapter 13 and reorganize? Sounds like they have continued to pay their CEOs obscene bonuses and fancy trips. Sounds like we as a nation can afford welfare for Wall Street, but not Main Street! The car industry is part of Main Street. Both are an ugly reality of what this Administration has allowed to fester into a boil of gigantic proportions.

My gag reflex is working over time today…. I'm throwing up in my mouth with every article at this point.

December 3rd, 2008 12:46 pm ET

I don’t think the people understand, they are not asking for a hand out. They are asking for a loan in which they plan to repay. If the auto industry goes under a lot of people would go under, how would they fill if it was their job and town was going under. People you need to quit being hater’s of your fellow neighbor and hope for the best,for thy neighbor this is America I think. I get sick of all you negative people out there. They gave wall street a break and look what they did, they had a party plus gave bonuses to there CEO’s. At least the big 3 have promised no bonuses for their’s. And just think there’s is a loan they should be able to spend it as they want.

14 Comments

Why would someone think we can afford the bailout when the reason they need one is no one can afford the cars!!

The American people says NO to any bailout but our supposed representatives will give the auto makers the money anyways and stick us with the bill. It all boils down to that Pelosi, Reed and Obama simply do not wish to upset the UAW.

NO BAILOUT FOR THE AUTO INDUSTRY!!!!!

I strongly oppose giving any of the stimulus package to any failing auto industry, however I do have a solution.

It is our tax dollars, so give each tax filer household $100,000.00 tax us at the end of year and automatically get 30% or more back.

We will pay off loan mortgages, car notes and stmulate the economy in all areas. I am willing to bet that a small majority of people will buy new cars.

Can anyone opposing the auto bail out here explain to me the justification for the bank / investment company bail out (which cost us 800B) Isn't this socialism?

I, like the majority on this blog, dont think these people are worth the money. Unfortunately, many honest hard working people are going to get hurt economically in the process. Management needs to take a long hard look at the way they do business as well as the unions. Over inflated egos with little boy mentalities have doomed business in this country for years and now let them reap their just rewards.

CNN and media…that's great about the $1 base salary…how about a follow-up question about TOTAL compensation!!!!

Good greif!!!

we can bail out the banks no questions asked 300 billion dollars-
who caused the economic fallout????

Why are we not helping the blue collar worker
-

The better poll question would be,
"Does the government throw money at the rich like:
a. rice at a wedding
b. coins at a dancing monkey
c. virgins in a volcano"

But the automaker involves as many as 2 million jobs in a country at the edge of a depression, and a chance for homemade green cars. Its complicated. Maybe it is a good idea.

I vote absolutely NO.

Not a cent from my pocket, fellas. Turn your hybrids around and go back to shutter your plants.

A $1.00 salary ?? Give me a break ! They can live on the other millions they have been paid or off of the SAVINGS, if ANY, like I am. Bailout ?
BALONEY ! Bankruptcy, GREAT. A cut in salary and giving up private jets is WAY TOO LITTLE, WAY TOO LATE !

Get real people. Two to three million people will be without a job if we don't help. I bet its the people currently with a job that says don't help them. Using normal tactics of bankrupcy will not work in the current climate. It would be disasterous if we let these companies fail at this point in time.

Filing bankruptcy is NOT the answer people – that just shafts us the taxpayer with the bill and leaves thousands of workers without pensions or jobs! Use your brain folks.

Now, I'm not in favor of a bailout either – because I don't think the "big 3″ can be trusted to change their ways.

If you ask me, I would propose a radical solution: the government should buy the companies and sell them to bidders who will use the infrastructure to design, build, and develop public transportation and energy efficient vehicles. The taxpayers should receive the profits if and when any are made.

"Rick in Wa"

I hate to tell you but the elected officials did not elect Barrack Obama to be president.

Letting the big three fail would basiclly doom the rest of the manufacturing jobs here in the US. No to bail-out, yest to a large loan backed by the infrastructure of thier business. If they fail the next move would be to sell the infrastructure to a group to develop the next generation of energy hibrid autos.
If the big three can't or won't do it, I'm sure their are investors that can!

Come on…when was the last time that any Congress listened to and acted on the desires of the electorate?!?

Those who are against helping the Big 3 might not be informed of the real stature of them in the economy, of how many millions of American workers would be affected if they cease to exist.
Of course, there's a serious need for modification (or change) of the Big 3's self management, plans and strategies. They failed, miserably, and even if it wasn't the crisis they'll be in deep serious trouble.
So it's not about giving them the money or not, not give them any nickel would be devastating a NOT ONLY for Detroit!
But HOW and under WHICH pre-conditions the money will be LOANED.
Get rid of the jets and start flying in comercial lines would be just a small pre-condition for example…

Just because the government wants to bail out GM doesn't mean that I want to drive one of their cars.

Make me want to own a GM vehicle and i'll consider it.

till then, this bailout reeks of communism where the government forces the company to survive and make products that the consumers don't want.

It's not about executive pay either, its about poor executive decisions and poor executive planning that earns them their executive pay.

GM made so many mistakes for the past 20 years that its no surprise they are behind in the market. Also you can't blame the unions because GM has every right to move manufacturing over seas.

Besides, European companies like BMW and VW are doing good and they manufacture in socialist heaven!

With many stipulations, major cutting of expenses etc, believe we have no choice but to help the auto industries. There are far too many jobs, spin offs involved and would create yet another diaster for our country if we did not.
The fact that this is being very carefully considered lends some merit. The financial bailout was a diaster, with them continuing on with business as usual. Just cannot understand why they are being allowed to get away with what they are doing with our money.

No. Let them become foreign car companies since the only people that seem to want to buy American vehicles are the Chinese.

As long as the bailout money is partially used to move their plants to right-to-work states, Im all for it. I have seen, first-hand, the laziness and arogance of the UAW during the last strike at a local, well-know, construction equipment builder. I make a comfortable living off of my education and hard work, not off of union thugs driving wages artificially high for skills rendered.

The Ford CEO just wants a line of credit that he says Ford may or may not use. This is utter BS. If you're not in dire straights, and you don't need the money right now, then hop back on your jet and go home.

I think you CEOs missed the point. By a PLAN what was wanted was how you were going to fix your businesses, NOT how and when you were going to pay the money back. If you don't have a plan to be truly competetive with the Japanese and the Europeans, then you shouldn't get a dime. Sorry, but the UAW will have to find some other way to survive, and you top execs can go take a jump as far as we're concerned.

Unions are not the problem here. The problem is that many Americans have been brainwashed to believe that Japanese cars are superior to those made by the Big Three. That is simply not true and has not been for the past decade at least.

Why fault the Unions and management for making the vehicles that the self-centered, gluttonous American consumers demanded? SUV's that could probably apply for statehood they're so large was what we wanted and therefore was what they made.

Funny how all of you want to follow Mitt Romney's 'opinion du jour' on what to do, or not do, in terms of the Big Three. If any or all of these companies goes under, you will all feel the impact–big time.

After nine years in the auto industry, I left because, in part, my frustration that the North American automaker was not looking towards the future with any realism (i.e. hybrids or alternative energy vehicles). And for years, who has been fighting against higher standards for fuel efficient vehicles? The Big 3.

If they were truly committed to a revamping their industry, the Big 3 are going to need a great deal more than $34B. Be warned.

Let the Union lend them a few billion! They should pony up since they are at least partially responsible for the mess. I mean getting paid for not working is just as bad as farmers getting paid for not farming. Makes NO sense. As an alternative let the rip off oil companies bail them out. They have been in control of fuel standards since 1970! Forcing the industry to build low compression fuel guzzlers so they could sell more fuel faster is really sick. But…welcome to the real world folks! Remember when the world was going to be completely out of fuel in 20 years. My 1969 Chev 350 got 19 miles per gallon. My 1972 chev 350 got 8. You figure it out.

I heard Pelosi's comment from yesterday that we cannot let the Big 3 go bankrupt. She must be getting loads of pressure from unions. Told you!! Pelosi and Reid will not let the Big 3 go into bankruptcy because the unions will be the biggest loser. This would be best for Ford, GM and Chrysler – Stomp the UAW into the ground. We all know Dems count on union workers during elections. If Dems had their way we would all be union workers and that is their goal. Go ahead Pelosi – I saw through your smokescreen a few weeks ago.

Indeed. Eff these people. They've been in bed with Big Oil all along and purposefully ignored and faught against things like emissions standards and the need to develop clean fuels and alternative energy cars. They've only started making hybrids because it's "popular" and therefore good marketing to have those options in their lineup. It's going to suck, but screw them deep.

I don't think the people understand, they are not asking for a hand out. They are asking for a loan in which they plan to repay. If the auto industry goes under a lot of people even cities would go under, how would they fill if it was their job and town going under. People you need to quit being hater's of your fellow neighbor and hope for the best, I get sick of all you negative people out there. They gave wall street a break and look what they did, they had a party plus gave bonuses to there CEO's. At least the big 3 have primised no bonuses for their's. And just think their's is a loan they should be able to spend it as they want.

All I can say is that if the paper and ink industry goes under the federal reserve is going to be in big trouble.

We still need to help the Auto Industry, NOT with a bail-out, but a loan that must be repaid! They will need to do certain things to earn that loan, including firing all their CEOs and CFOs!

The Auto Industry needs to consolidate like the airline industry has. Ford & GM can buy Chrysler. They need to STOP making crap and start thinking and building……..GREEN!

Question – hown many Congressional representatives drive Detroit cars verse other brands???

Cut out the CEO's bonuses and pay them regular salaries, then bail them out. America need those jobs, employees have too much to lose.

Is this not both a golden opportunity to launch that pivotal change from dependance on internal combustion and oil, promised in the campaign, as well as a test on whether the new president will respond to the will of the people?

Didn't we also reject the $700 billion bail out? Which turned into an $850 billion bail out? Which actually turned into a $7 TRILLION bail out?

I read the constitution the other day and it said something about representatives. What's this all about?

No Bail Out – if you don't make a product Americans want then why invest. Detroit cars do not measure up to others and the Detroit will only waste taxpayers money

Sorry to say but US Auto is going down for the count. Chapter 11 gives then a fresh start and ability to become competitive provided they can create cars thar Americans want to buy

Lisa M December 3rd, 2008 12:15 pm ET
Did Ford get a multi-million package from the government to start his car manufacturing businiess?

I believe that he started out in his barn.

Please let the old tired companies die so that new energized companies can grow and create new jobs.
——————-
You know those "new energized companies" would just be multinational companies based in Europe and Japan with a monopoly on the entire North American Auto Industry. If the 'Big Three' go down, you can say goodbye to the American Auto Industry and hello to the European and Asian cars. If foreign multinationals take over, the amount of jobs they create won't even compare to how much jobs will be lost, on top of the fact that we'd be giving all the profits to foreign companies instead of American ones.

Do you really want all that?

Not only am I opposed because of mismanagement, I am also opposed because of the attitude of the unions. They have told everyone that they will not concede anything at all even if management revamps itself. Everyone wonders why the auto industry is in the mess they are in. If I could talk to union leaders I'd love to ask them, would they rather have a little less or nothing at all? Unions aren't for the people and never have been since the 1920's. There was a need for them but no longer. They are just a seive so the drippings of all the union employees can go into the pockets of criminals.

OMG if anyone wants a good laugh–go to the article about Rove and Palin and read Marie in California's post. i've been reading these posts since the primaries started and that one has got to be the most laughable post i've seen since then.

Bailing them out would only temporarily stall the inevitable. Americans are buying more foreign cars because American cars are subpar compared to Toyotas and Hondas. The foreign cars are better built, more innovative, look better, and are better on gas mileage. Tryiing to guilt people into buying American cars simply because they are "American cars" is dumb. Why would I pay money for something that is of inferior quality when I can get something of better quality in so many ways for the same price or a little more? American automakers spend a lot of money on their workers, their health insurance, jets, CEOs, but not in R&D. They're behinid the times. I'd much rather see the government actually help the American people by providing relief for those with student loans that are like mortgages then I would for a poor business model like the US Auto Industry. Let them file for Bankrupcty and force them to grow up. Giving them money they won't be able to pay back because their sales will continue to decline is just not going to help Americans in the end. HELP WITH STUDENT LOAN RELIEF!!!!

JL – Get real. My stocks didn't "collapse", and neither did my 401k…then again, I don't run a high risk portfolio. Big 3 stock has been on the decline for nearly 20 years, there are reasons that this is happening, they haven't made any effort to compete at a global level in terms of efficiency and functionality….they simply sold a name to a bunch of old-timers at extremely inflated prices. Capitolism is the name of the game, you win some, you lose some. Maybe if there were some consequences for poor management in American business these guys would get the picture.

This is really no different than parenting. Visualize Big Government as the parent and the auto industry as the child. Now, the child has been bad and has been bad many times over and all the rewards (congress) in the past have done nothing to correct the childs bad behavior. So, do we continue to reward the little devil and the bad behavior or do we punish the crap out of this kid to make a point. I don't know about you, but lets not spare the rod anymore. This bad child deserves some real parenting.

I'm have a mixed opinion on bailing out the auto makers. It seems the executives must pay a price, but no one else. Sure they are going to dispose of the company jets but what is the difference with that opposed to company cars? I look around my neighborhood and see people who own their own small business and have at least 2 company cars, sure they drive them back and forth to work but also use them for personal pleasure too. They let other family members drive them for their needs, the company pays for gas, insurance, maintenance and whatever else. Vacation time take the company car and throw something in so it looks like business.
If the auto executives get rid of their luxeries what about the rest of the bailout companies getting rid of their perks before they get their bailout?

No No No and NO way!
All three of them need to file chapter 13 and reorganize. They are top heavy and wasteful. They need to start over without the unions and become competitive with other auto maker who are not broke.
They are running these companies they same way they have for the last fifty years and that does not work now. They need to lean,mean and look to the future.
Any legislator that OK's this deal will never get another vote from me. We can't bail everyone out. Where does it end. Let the free market do its thing.

I say give them what they want. oh BTW my company is not doing so well I was thinking about making better business decisions, wasting less money on expensive holidays and selling my jet, but if you guys have a little of that "rescue" money kicking around maybe you can send some my way.

What many people fail to realize is the effect that a collapse would have. I agree the big three have some lessons to be learned, but the ripple effect of them failing is huge. There are millions of jobs that will be lost in the supply base, up to 5 tiers at least. That would be a huge mistake on the governments part. However, the UAW should share in the bailout. They have seen nothing but good times and increased wages for years. It's time they gave a portion of their windfall.

To our elected officials, it doesn't matter what you think. They know you are too stupid to reach the correct conclusion on your own. Evidence of that is who you just elected President.

I don't know enough to make a decision, but I would say no unless I see proof they will not be right back in the same spot in the future. They're privite jets were not very convincing either.

No bailout! Use any money to create sustainable jobs for the workers who are going to pay for the higher-ups' mismanagement. It's a little late for the CEO's to be driving their hybrids to Washington.

These polls kill me. A majority of 1,096 people?

I think they should file chapter 11 and reorganize without using taxpayer money.

businesses go into to business to provide services and if the are lucky they survive. if not, they go out of business. it's a longtime principle that suddenly seems to no longer valid.

i truly think we would all be better off if we let all of these companies fail–survival of the fittest. we would probably rebound faster… and we wouldn't have to pay for the greed of these ceos and speculators.

Let them eat cake. They should really just take their lumps like the rest of us. When gas prices went through the roof and we had nothing to drive except the gas guzzling hogs they built, no one came to our rescue. They had a chance years ago to fix the problem and chose not to and congress as well had the opportunity many times under both Demos and Repubs to fix the problem and they all chose to turn their collective backs and walk away from it. Let them go bankrupt as that is the only way they will learn from the mess they created.

america must come forward to help the industry that has done so very much on providing jobs to them. whatever may be the reason of this downfall, we must not forget that its not the automobile industry alone responsible for the goof up. let there be a human touch to the administrative actions of white house.

I absolutely oppose it…And the Execs, stating "I will cut my wage down to $1″ Is an absolute joke, concidering that their bonus's exceed their pay by 10 fold……..Keep your pay and cut out your bonus…That I would be impressed with!

Did Ford get a multi-million package from the government to start his car manufacturing businiess?

I believe that he started out in his barn.

Please let the old tired companies die so that new energized companies can grow and create new jobs.

If I recall correctly, the majority of Americans opposed the financial bailout, too – until the day after, when stocks tanked and their 401Ks collapsed. People quieted down really quickly after that. I'm afraid this is the same thing; people don't understand what a failure of the auto industry would mean, so they're not screaming against the bailout. When the industry collapses and sinks the economy, they'll be crying FOR one.

I wrote to my Senators and Governor and even Speaker of the House this morning saying NO to the bail out as it stands. Only a Bankruptcy will alow a real/sustainable restructuring. Only then will I and millions of Americans consider using our tax dollars to help out the big 3.