@Trang, I have only owned 2 cars in my lifetime that weren't american made, an Austin Healey and an MG. I currently drive my 5th Corvette and have never had a problem with an american made car. Of course, I take care of them and get them serviced regularly. This is what's wrong with the entire manufacturing section of our country. We don't purchase our own products. I needed to buy a new washer and dryer this year and in researching where they were made, purchased a Whirlpool because it and Maytag were the only ones made in the U.S. Maybe, instead of continually complaining, we should all go back to buying American made products.

In regards to the "dog and pony show" that is going on with the big 3 automakers, I simply have 1 question:

How much money is given EVERY YEAR to farm bills and agricultural subsidies and why don't we have hearings EVERY YEAR before this money is granted?

If we aren't to going help the big 3 through the credit crisis because if the credit market doesn't work the car market doesn't either and frankly if we can't help the big 3 out this small amount then we have no business bailing out banks the scum of the earth nor do we have the need then of a money wasting government or government period. A possible of the even one of the big 3 going down would be far more damaging and destructive to the economy as a whole that i'd rather see citigroup or AIG go up in smoke.

This issue is just a failure of our government to manage the financial institutions, and the result of their subsequent failure has restricted the dealers and general public from access to credit. Without credit, consumers cannot buy cars. If consumers cannot buy cars, dealers cannot sell cars and manufacturing flow breaks down.

This combined with our government in corporation with oil companies plan to price gouge the public by allowing fuel costs to triple for no reason, since even during two wars, pricing has come back down as it was before the wars began.

It's never been about better cars or more efficient cars, since the American automakers sell over 50% of the vehicles sold in America and in the rest of the world, and are now leading in quality, safety and fuel overall fuel economy.

It's really about keeping the American public watching the little red bouncing ball, to keep them preoccupied while hundreds of billions are given to Wall street with no clear stipulations.

AFTER LISTENING TO THE THREE AUTO CEO'S, I DO NOT BELIEVE THAT THE PROGRAMS PRESENTED BY THE AUTO CHIEFS WILL HELP THE AMERICAN AUTO INDUSTRIES.
THE DESTINY OF THE THREE IS INDEED IN A VERY BAD SHAPE. THEY DO NOT DESERVE ANY FINANCIAL RESCUE HELP FROM THE US TAX PAYERS. WHY SHOULD ANY PERSON GIVE MONEY TO A COMPANY HAVING THE SAME MANAGEMENT THAT ARE RESPONSIBLE FOR THE FAILURE OF THEIR RESPECTIVE COMPANY !
THE AUTO MANUFACTURERS MUST BE REORGANIZED AND LET THE CURRENT MANAGEMENT GO BEFORE A SIGLE PENNY IS GIVEN TO THOSE LOOSERS.
THE AMERICAN AUTO INDUSTRIES SHOULD HAVE COMPLETELY REORRIENTED THE AUTO INDUSTRY IN 1973. WHAT HAVE THEY DONE FOR 35 YEARS IS ABSURD. THERE SHOULD BE NO MONEY, ESPECIALLY TAX PAYERS' MONEY GIVEN TO THOSE COMPANIES WHOSE MANAGEMENT ARE THE ONLY PERSON RESPONSIBLE FOR THEIR CURRENT DISASTRUOUS CONDITIONS.
NO PUBLIC MONEY. WILL THERE BE AN END TO THESE GIVEAWAYS OF OUR PRECIOUS DOLLARS ?

Didn't something similar to this happen in the 1970's?

The automakers making vehicles that no one wanted or could afford. The Japanese automakers making huge gains by manufacturing inexpensive, fuel efficient cars.

I guess they didn't learn from their mistakes.

What if the common American worker runs into financial trouble?

Who's going to bail us out?

And I don't make as much as the $ 90,000.00/year factory workers plus benefits.

What about their parachute? 95% of their pay even if they get laid off?

6 out of 10 people in a CNN poll are against this bail out.

Get rid of UAW and maybe we'll talk. They are one of the main reason that costs have gone up for the American vehicles. I am not for tax payers money going towards the UAW so they can continue to strong arm these companies into ridiculously high wages and benefits.

Wheeling and dealing, the big three arrive in Washington. Of course they humbled themselves and rode in a "car"…how depressing this must have been…riding in one of those gas guzzling, air polluting things they build and sell at huge margins.
First they come with their hands out and ask for $24 Billion and then the next time, just like a bunch of wheeler dealers, they show up and ask for $34 Billion. Does this say much for their math and ability to run a business when they are off by $10 Billion? Surely Congress can see through this masquarade? Probably not, since these same businesses have probably been lining their pockets for years.
Send them packing or we will vote all you people out next time around.

Dont give them anything. For decades they have jacked up the prices of cars. (FORD= Fixed Our Repaired Daily Cars) Then they parade on they're million dollar jets. Forget them.

No get like us!

T'SAH from Virginia: "Give EVERY legal USA citizen that filed taxes $1 MILLION dollars!!!!!! …This will cost the taxpayers less than $300 Million. THIS IS A LOT LESS THAN THE $BILLIONS$ THAT IS BEING ASKED FOR."

I wish math was a priority in school…sadly, T'SAH from Virginia, you would give a million dollars each to only 300 people for it to equal $300 million.

let the oil industry bail out the "big 3″

CNN POST THIS!!!

and quit monitoring my post!

What I would like to know is: Who is going to bail-out/hand-out the $90,000.00 of 401K money, that my wife and I have lost so far? Should I have a meeting with the car makers CEO's? Maybe they can bail us out! With their LARGE paychecks, that they probably get paid. I say let the car makers go BANKRUPT. Who cares……..they should have thought about how they have been running these companies into the ground, for the past 20 plus years.

I agree Matt, it is all about accountability.

If it is true that millions of jobs are tied up in these companies, then save them, but tell those CEO's exactly what they are going to do from here on out….

So what happened to the public hearings, monthly detailed financial reporting and oversight over the $700 billion available to Wall street? Why isn't some of the money 'required' to be available at decent interest rates for consumers to purchase cars?? Where did the money that's been released go? Is it even still in our country? Nobody knows. So does anyone else see the automaker loan side show more of a big red ball being tossed to puppies to distract them?

So what if they drove hybrids to Washington? First impressions are the most lasting. Also, they all claim they will accept only $1 for their year's salary……DOES THAT INCLUDE BONUSES? The bonuses these 3 CEO's get are more than the salary. Yet all I've read is "salary". I still vote no, they haven't given substantial changes other than the salary and selling some of the jets. Where's the beef in that? Why not eliminate some of the lines of vehicles? For instance: make 2 or 3 pickups, not 12 different kinds, eliminate the Hummer, etc.

The first thing that needs to be done is dump the union. You go broke in a business because you spend more than you make (union demands for one)or you have lousy products no one wants. While we are getting change why do we not demand the same system our crooked politicians set up for themselves. No Social Security to pay ,health care paid for for life and retirement if they stay out of jail for one term.

ATTN ALI BELSHI!

Here's my idea: Give everyone who wants a new car, a lease or grant/loan bailout, and let the money trickle up to GM, Ford, and Chrysler, That helps out everyone from end users, suppliers, UAW workers, and the credit industry! In addition, give those who buy a US made car a take break equal to the amount foriegn car manufacturers get from their governments!! PS I will run for president or congess if you need me.

Too much narrow-mindedness and selfish executives have run them into the ground. Yes $1 salary is not good enough…fire/replace all the board members and CEO's.

Quit making SUV's that get 5mpg and take-up 2 parking spaces and start
making 50 mpg cars that are sold in America! not ONLY in Europe.

Hey Give me a break –
I went into a dealership almost 2 years ago and they offered me a deal with 17.5% financing. I had pre-arranged financing thru my credit union, so I wrote a check and didn't get a discount, but it is a Camry Hybrid, so the extra I've saved already has made up the difference. It's the wealthy trying to get wealthier. They overprice their cars and deny financing except at higher rates to get even more money for themselves.

Why can't Americans support local cars???
If Americans choose to buy foreign cars, money will flow out of America.

Consider that if local car manufacturers improve on their products, people should give them a chance to survive. Moreover, local cars are national pride…. if you are thinking of "Country First".

Just get rid of compound interest on cars and use simple interest. Car sales go up!!

i just tried to buy a card from a Ford dealership in my home town and was turned down after offering them $500.00 below the asking price….they said the only way I could get that deal is if I went through their financing at a higher interest rate….geez not too desparate if they will not sell a car for $500.00 under the asking price.

Just to put the recent BAIL OUT chant ON LINE!!!

The BAILOUT IS A SELL OUT

GIVE THE MONEY TO THE FOOD BANKS

Bottom Line:

Capitalism (along with deregulation) has failed this country. The CEO's
of these corporations as well as Wall St. and Washington politicians
should be ashamed of themselves. They've had their own agendas for
years and now it's all come to a head and is ready to explode. Needless
to say, the auto industry needs to stay afloat with a bridge loan. They are
so closely related to the military and other industries that it would be a
catastrophic not to sustain them. Placing strict regulations on them and
making sure that they disclose where every cent gets spent would be
a start. Making high quality products that are environmental-friendly
and not over-pricing the consumer would help, and KEEP THE JOBS
IN THE U.S. !!!!

If we as Americans bail out the Detroit three, major changes must occur. They need to retool the entire system from the top on down. That includes the factory worker who is paid $90,000.00 a year with benefits. Did you know if they get laid off they still get 95% of their pay? Plus bennies?

No wonder people are buying $ 9,000.00 Hyundais as opposed to $30,000.00 dollar Ford or GM products.

Buy American? Why, so the fat cats in the board rooms and the overpaid factory workers can keep their positions?

Then they try to blackmail us by threatening a depression if the three companies go under.

Fine. But BIG changes need to take place both in the companies and in the UAW. And if they don't implement those changes—jail terms for all of them.

Why is it so difficult for our Senate to understand that if the banks would loan money, the auto industry would not be asking for a LOAN. It appears as though some of the Senators want to break the union in the process. What kind of people are we putting into office?

Giving the Big Three more money to continue doing the same old thing is just delaying the inevitable. Giving them more money is not going to make you and me and the guy down the street want to (or able to) buy a car. I think that we should institute some kind of tax break for buyers that "buy American". If they are not selling the cars
they are building, then what's the point?

The three CEOs of the automaker will a $1 for they work is a little late. They should done that a longtime ago to save the company. This problem is the blame on both side ( The CEOs and The UAW Union ). They should working together to make the company to grow and make better products instead they fight each other. And also all the CEOs should take the blame for they greed and all they want quantity instead of quality. The three CEOs still have a dream on they head back 40 years ago. They should know the world is change and not the same as 40 years ago for doing business.

Mike in Syracuse—

I'm with you on this one. I would change #2 a bit. I don't think Big 3 execs have performed well enough to deserve compensation matching the Japanese. That should be taken into consideration. The Amercian workers definitely have to be part of the solution but their wages should also reflect the cost of living in Michigan vs the states that the other companies are in.

F ound
O n
R oad
D ead

REMEMBER THAT ONE?!?!?!?

THE AUTO MAKERS GAVE THE US PEOPLE CRAP IN THE 1978 -2000. NOW THEY WANT A BAILOUT I SAY YES IF THEY WILL TAKE BACK ALL THE CRAP THEY STILL HAVE ON THE ROAD OH THE BIG THREE WILL GO DOWN AND SO WILL ALL THE AUTO MAKERS BECAUSE THEY ARE NOW MAKING NEWER AND BETTER CARS AND TRUCKS BUT WHO WILL BUY . WITH NO CREDIT CONGRESS SHOULD LEVEL WITH US AND GIVE A CLEAN SLATE TO ALL TAXPAYER ALSO GET RID OF THE FICA SCORE BECAUSE IT IS A BLOCK FOR SOME ONE WHO CAN BUY BUT HAS NO CREDIT.SOME DAY THERE WILL BE TOO MUCH CARS .THEN THE AUTO INDUSTRIES MUST DIE. THEY BETTER DIVEST .IN SOLAR PANEL. ETC GREEN ENERGY

Been watching CNN's coverage of the big 3 request for a loan.

Question: if congress gives them the money and they fail and go into

bankruptcy – do the people get the 34 billion back?

If so I say give them a chance and if they fail – rescructure. Seems to

me that it is a loan not a bailout and besides what about all the money

we are spending in Irag. Other countries are supporting their auto industry. thanks

Why should we pay to bailout such a backwards industry. Because of the unions there's people who get paid $90,000 a year to put 4 bolts in a single car A DAY!!!! The rest of the day they can't do anything. If that's something you want more of, then go ahead, But place blame where blame is due.

The bailout has to come at a cost. meaning, that the 3 Stooges and their top 12 yes men/woman must leave without compensation.
Anyone can run a company in the ground. Give someone else a chance. Replacing the Board of Sissies wouldn't hurt either.

After watching and listening to these snake oil salesmen with the golden parachutes, I'll NEVER buy FORD, GM, or ChRYSLER !!!!! It's the wealthy for the wealthy. Let the workers go to work for TOYOTA, HONDA, etc., for $35 to $40 per hour. That's a DARN GOOD living.

T'Sah from Virginia: I like your idea of giving the money to individuals instead and letting us pay off debts and spend, but you can't do math. There are 300 million Americans. If you want to spend $300 million or less, that's ONE DOLLAR for everyone, not $1,000,000. To give every American ten bucks would cost $3 billion. A hundred bucks would cost the $30 billion that automakers are asking for. The $700 billion bank bailout would have worked out to around $2,500 for every man, woman, and child in the country — larger families would have gotten a big benefit, but everyone would have gotten a nice chunk. To say that giving a million bucks to every "legal" American, and that it could cost $300 million or less, means that you must think there are only about 300 legal Americans in the entire country.

They want what? $34B now? What a nerve! They just wanted $25B a few weeks back. I guess, inflation $9B in a few weeks, say 4 weeks, makes it annual what? 400%

Gimme a break! Let them fail flat on face !!!

nobody buys their product. it took them 35 years to get here.
they have wrecked the companies.

@ Rush Lameduck

Angle? No angle. Simple pragmatics: precedent should be set that we will hold people accountable for driving companies into the ground while paying themselves enough to own 2 or 3 multi-million dollar homes, several cars, boats, etc. These are the people who put all those jobs at risk while securing themselves against the foreseeable collapse of the company they were running. It's time to set an example.

We should support the bridge loan request by big 3 as soon as possible. We are wasting a lot of time discussing unnecessary stuff in the congress (who cares how the CEOs got to DC, which cars they drove etc. ..) and making matters worse as time goes by …. C'mon. the IDIOTS in congress, decide soon!!! It is because of you guys (Congress), that the bridge loan request grew from 25b to 34b within 2 wks ….

If they had been putting more money into producing those fuel efficient vehicles or even research to make other "green" vehicles, rather than putting huge bonuses in their pockets and paying their union workers 3+ times an hour what I make, I wouldn't mind bailing them out. When I make barely a livable wage, why should I add to my tax bill so that they can charge me an arm and a leg for any vehicle I may need in the future (and can't afford). As it is now, I drive a 1988 car (no, I am not kidding). So NO $$$ for CROOKS!

WHAT? They asked for $25 B two weeks ago, then came up with $35 B this morning – now it's more like $60 to $70 B. If I budgeted that way I would have been dead for 40 years. KICK THEM OUT.

They don't have a clue what they want or need. MORE MORE MORE MORE. NO NO NO NO. They heard there was money and they want their "unfair share". NO NO NO NO.

Okay, NOW IT'S OUR TURN.

The PEOPLE OF AMERICA would like to REQUEST $1,000,000 for EVERY MAN, WOMAN, and CHILD in the USA.

That would stimulate the economy, pay off our mortgages, give the BANKS their money, enable us to BUY NEW VEHICLES, put our KIDS THROUGH COLLEGE, AND give us ENOUGH money for RETIREMENT.

NO BAIL OUTS FOR AUTO, BANKS, INSURANCE OR ANYONE ELSE UNTIL YOU BAIL THE US CITIZENS OUT.

OR……………..WE QUIT PAYING THOSE TAXES!!!!!!!!!!

Cnn lets see if you post this comment of mine or let it sit in moderation for hours just to have it blown out completely.

With that said

The automakers should not get one red cent of our money. They knew whats been going on for years and years, but they never would put in jepardy there bonuses. As long as they were getting there fill of money, and lot's of it, they didn't care what was happening to the economy. They thought they could ride this gravy train forever. Guess what? The parties is over Big boys !!!!!.

Doesn't matter how much we protest or scream and hollier that we are against this bailout. Our goverment is going to do what they want to do no matter how much the American people are against it. because folks, they do not represent us anymore, they represent there own interest and there crooked inside dealings. We do not have Goverment that we can trust to represent us, and that includes Obama. He is more then willing to go against the American publics voice in order to further his agenda. They act like we work for them not the other way around. And we, the American people sit back and let it happen. We do absolutely nothing about it. Maybe if we didn't pay our taxes come tax time or protested in the streets, maybe, just maybe they might start getting the big picture into focus that they work for us. Not the other way around.

tell them to go back home with their tail between their legs. no bailout.

If they want a bailout, maybe the super profitable oil companies should bail them out. Exxon is making around a $50 billion profit within the last four quarters. Their roller coaster stranglehold of fuel prices is partially to blame for this problem. When oil was low, the big 3 completely lacked any innovation or sustainable forethought. When oil is high, they scream "RESCUE ME!!". If this bailout goes through, there needs to be heavy incentives to ensure that they do not return to short-sightedness they have shown for the past 30-40 years.

I just want to know, if we bail out the Big 3 like we're suppose to be doing for the Banks/Mortgage Companies, whose next in line to go to congress for our money?

I have figured out a way for the auto workers to help themselves and their company. If the projected 250,000 workers all took a one dollar an hour pay cut that would create a $2 million a day savings which would in turn create a $520 million savings in one year period. This is to say that everyone works a standard 40 hours a week. I would most certainly lose $40 a week to save my job.

Although I share many of the same concerns voiced here about the bailout of the auto industry, I'm more concerned for the men and women who punch a clock every day at the plants that will inevitably close without the bailout. These people had no voice in the design of the cars they produced and even with union wages and protections are not living the high life as some would suggest. Can we really afford to add them to the unemployment lines? For the past 12 years, I have intentionally been buying Chrysler vehicles, Jeep, Pacifica, 300 because I thought it was the right thing to do. I have NEVER had a problem with any of these vehicles, changed the oil, did regular maintenance, that's it.

I do not think it's fair to paint a bailout of one of our valuable manufacturing industries with the same stroke as the AIG's and CitiCorp. Also, I'm curious, what benefit have those "infusions of capital" realized for the current economy? Where is the $700 billion?

Other industries that are in trouble and could use a bailout: paper mills, textile mills, furniture manufacturers, rubber and plastic industries, food processors, leather products . . . . where does the line form for all of these industries that employee people and provide health benefits? How can we bail out three auto companies that plan to keep the managers who drove them into the ground and then turn down the rest of the nation's struggling industries? Where does it end?

Should anyone be allowed to mismanage a company, waste billions of dollars on perks and frivolous expenses, and then expect to hold jobs hostage to get a bailout.? Of course, their first idea offered was to ask the workers for more concessions! Outrageous!

Hey MATT, have you seen that money you gave the big banks you moron,you must have a personal ax to grind with the car makers or you work for Nissan,whats youe angle?

Sure, give them a bailout. Here are the rules:
1. No bonuses for anyone until the companies are profitable and the bailout loan is fully repaid.
2. All union contracts voided. Union line workers get same pay and benefit packages as their US Toyota and Honda worker counterparts, and the same for executive pay. If they don't like it, good luck finding another job.
3. Fuel mileage for 2010 models must average 35 MPG, 40 MPG by 2012. All models must have a hybrid option.
4. A windfall profits tax on oil companies will pay for tax rebates to anyone who buys an electric or hybrid car.
5. Big 3 each have to introduce a production model electric car by 2010.
6. Companies downsize workforce to match demand. Layoff benefits made the same as the rest of US industry, no better than one week pay for each year of service maximum.

If they bail out the automakers I will never buy an american car again

@Barbara….

Try to stay on topic…this is not about the war or about "W" as much as you would like it to be.

I have to say….the questioning done by Richard Shelby has to be about the worst I've seen. Did he even read the plans from the big 3? What an idiot. Nothing short of a complete restructuring is needed. It is time for them and their management to go. As for someone saying "get someone younger"….age has nothing to do with it. That's like saying get someone "blacker"…

They need to start building better vehicles that people actually want to buy…I had a taurus during the 90's and can honestly say it was the worst vehicle I ever had. My Nissan has been painless.

Dear Big (3)-

Stop production of cars and trucks for the next (3) weeks. Dealers are overloaded, credit is not being given to buyers, since banks have tighter lending rules, and do what Michael Moore said…

If you really want to make yourself ill today, be sure to watch the GM CEO Rick Wagoner announce his plan, including his $1 a year salary. Why wait until you are about to go bankrupt to come up with a plan to salvage what they have destroyed? He also announced that his plan would include to cut back the salaries of the executives currently managing the Company. Can you find a more noble executive?

For all of you well meaning people in America. If you were not alive prior to December 7, 1941,,,,let this be a history lesson. When America was attacked on this date,,,,,,,when America went to war against both the Japanese and the Germans at the same time. If America on that date had no manufacturing,,,,,AUTOMOBILE PLANTS, More than likely the stars and stripes would not be flying over the white house today. America was able to defend itself because of our manufacturing base. Over-night the automobile plants were converted into war material plants,,,,,airplanes, tanks,,,,everything that it took to fight two wars. If the automobile plants are allowed to become history,,,,,there will be no facilities to once again build materials to keep America safe. The manufacturing in America has to continue,,,,,,,,if not , America may not survive another war.

They will be bailed out. no matter what you and I think……why all these hearings……..they will bail them out anyway……so do it and get it over……..The $700 billion should have been given to the american people that pay taxes so that we could have stimulated the economy…..but we won't get any of it and if we do we will be the last ones to get anything…….I don't like the idea of them being bailed out either but I don't want to see all these people out of work, no health coverage, it will effect not just the auto industry but the lay offs and business that will be effected are going to be enormous

I don't think we can count on GM and Ford to really sell their private jets

Its a little too comfortable to fly than drive as they suggest all their customers do when they market their cars!!!!

These BRIDGE LOANS not bail out should have stringent guarantees and conditions like those accepted by Lee Iococa of Chrysler in his one Billion loan that he refunded with interest.

Why does GM not make the next version of the Hummer – H4, the GZ-GZLR version. That should certainly fix GM's problems, no?

Why does not make the next version of the Hummer – H4, the GZ-GZLR version. That should certainly fix GM's problems, no?

Barbara in NC,

You must be a miserable person to be around. Every post I see with your name on it is blaming this person or that person for the current situation. Shouldn't some blame go towards the auto manufacturers? I mean I know President Bush is the devil and all but he's not responsible for everything bad. Is he? I dare you to try and say one nice thing about President Bush and what he has done in the last 8 years. Can you find enough warmth in that heart of you to do that? Come on, just try it once. It might make you feel better.

Matt

One buck a year, they are overpaid.

If we can give the banks money why can't we give the auto makers money?AIG spent the money on parties and trips and they gave them more.The blue collar workers always get the shaft.If the auto companies go under millions will be without a job.I don't think the US economy can deal with this.

Umm, T'sah, I hate to question your math, but are there only 300 legal US citizens?

If you give them each $1 million, you're looking at $300 million. You may want to doublecheck your figures.

There are actually about 230 million adults. I figured with the last bailout at $700 billion, that would work out to about $3,000 per US adult. Not enough to provide the stimulation we need.

$700 billion bailout to Wall Street with no concessions made; no plan demanded; no strings attached; and no oversight. But not even a small fraction of that as a loan to save some 3 million American jobs on Main Street even after major concessions. No one dares call that treason. I do.

NO NO NO NO I can't believe they are even thinkin of bailing these 3 out! We have been demanding them for years to build better cars. They said NO! So now its our turn to say NO! This money should be used for better things. A new company can come along, buy them out, and start producing better cars. Its time for CHANGE!! I would rather see the Government give loans to new companies for start up costs.

And as far as bailout money goes, the only thing they should be allowed to use it for is R&D for alternative energy vehicles. If people want to trade up cars every 2-3 years because Stepford Wife #9 has a nicer land-boat in which to drive the kids to soccer practice and it's unacceptable to drive that still-running Dodge Caravan 3 blocks to the field instead of walking, then so be it. Let them buy foregin cars for now. At least forcing the R&D will ensure that the Big 3 wind up being leaders (whether they like it or not) in what truly needs to happen to help save our economy.

I hate to see Rich folks beg…..

We bailed out the thugs on Wall Street with no strings attached.This was a big mistake .However I can see bailing out the Big Three only if they are willing to bring back the jobs they have outsouced overseas.
No more plants in China, Mexico and other countries.
I do believe if America were to have Universal Health Care it would help our business's be more competitive in the world market
We do need to end the greed at the top .

I think I know the perfect punishment for these CEO's. Not only would they have to work for a salary of $1 per year, but they have to trade in their limos for a car that they produce.

In other words, the CEO of GM should drive a Chevy Imala, the CEO of Ford should drive a Taurus, and the CEO of Chrysler should drive a Caravan..

Then and only then will they finally understand why nobody wants to buy their crap!!

Why can't the oil companies loan the car companies the money. When gas was $4.00 + per gallon, the oil companies made billions. They have a vested interest in seeing the auto manufacturers stay in business. Perfect match I'd say.

I'm MI so I know how much we are dependent on the auto industry, but I absolutely DO NOT support a bailout. These guys along with the UAW need to experience bankruptcy.

Maybe from their ashes, a new, better entity will arise. 34billion dollars won't save a sinking titanic that is the big3. They have no one to blame but themselves and the UAW.

I hope this is a lesson for ALL UNIONS. Maybe people will start buying American cars again when some newer companies take over. Lets face it, American cars have gone off the cliff for many years now.

Anyone else find that it is ironic that in an article that focuses on the US big 3 that the picture is of Ford vehicles not available in the US? That is a lot full of European Ford models.

They should file bankruptcy. I will be writing my government representatives to tell them that they should authorize one dime for them.

You know what amazes me is that I don't think the average American realizes how many businesses are tied into the auto industry. 3 million jobs is a low estimation. If you are asking for a loan it is not a bail out. A bail out is what we did for the financial industry and how's that working out. It's not. No one has absolutly where that money is. And as hard as they are on the automakers they should be just as hard on them. Like for startes where did $350 billion dollars go. It is absolutly ridiculous.

I sold cars for years and it is everyday working people like myself and countless others who will pay for this. Yes speaking from the inside I do believe that things should change drastically, but, I don't think millions of people should loose their jobs because Republicans don't like unions. That is what this boils down to.

The auto companies gave the consumer what they wanted – the mindset in this country has been bigger is better – supersize your meal, your house, your car. Foreign auto makers who have facilities in the US are SUBSIDIZED by their country and their profits do not stay in the US. And we also need to ask our government why we have to pay tariffs to get our manufactured goods into other countries but no other countries pay any type of tax to flood our markets. How about FAIR TRADE instead of FREE trade? If these companies go bankrupt, how is the government going to recoup the lost revenue from the taxes they pay?

give the money to us, the taxpayers and amybe we will buy one for thier cars…

@ Ken

Short answer: It's called ACCOUNTABILITY. It's time for us to start living like that word has meaning in our society. I may be a liberal, but my heart stops bleeding when it comes to ultra-rich jerkoffs continuing to make themselves ultra-rich while everyone suffers and a company-wide collapse is foreseeable. You can lay down and roll over hoping they'll scratch your belly if you want, but I think it's time we bite.

Don't give them a dime I'm sick of bailing out company after company with taxpayers’ money but never the taxpayer.

Phonies. All three are phonies who don't deserve a dime after keeping us in high gas consuming autos all these years. They chose their business model, now let them choke on it!

So they are willing to work for $1??? Who are they think they are playing?? They will not be able to live on a dollar a year. America don't fall for that!!!

I think that the automakers should be bailed out as a one time help only. Otheriwise many people will be jobless and can create even worse economic crisis.

$10 billion a month for an unwarranted war (money in Haliburton/Cheney pockets). Guess who REALLY profited in the last few years.

The only use for any money extended to these auto makers should be administered by "another beaucracy" unfortunately. But the total focus of the money should be on ONE thing….. all electric technology. GM has already made the advance thinking and offered a prototype, called the VOLT. If you read of what it;s possibilities are,,,, a 40 mile range on all electric, would serve most soccer moms,,,, YET the most amazing thing is the backup gasoline generator, will give the car (on one tank of gasoline) an extended range of 700 miles…….. Your present car has a range of say 200 miles on a tank of gas…… Now that is a difference that can actually lower demand for overall gasoline comsumption………… That any financial help,,,,,, MUST BE FOCUSED….. and all 3 auto makers, should collaberate on this technology,,,,,, so the end product will put all other efforts to shame.,,, This is just my opinion….. W.R.Fries, Sr. Los Angeles

The whole working for $1 thing has more to do with looking good in the media and public relations than it has to do with actually fixing detroit. Ditto with the whole private jet flap. There are much bigger problems here to fix. Let's talk about real issues with the big 3 and not these Palinesque issues.

I see on the news that the CEO's would only get a $1 salary, but no one is asking them about there bonus's or other incentives they get with there salary, I would say that some of the incentives would be in the millions of dollars, would they be willing to give that up also to get help from the citizens of the US

Let's not forget that the big three are the largest private health care insurer in the U.S. The health care system, doctors, nurses, hospitals and their employees will be devastated if they are allowed to fail. Then the only solution will be a national health care system!
wj RN

Has this free market country lost its mind? Bail out the auto industry Big 3? Why? All the traditional investors and lenders – Wall Street; the Baking Industry; and Private Equity will not lend a dime. They realize that these three companies are dinosaurs about to go bankrupt.

Why give them a loan to save their inefficient businesses? There are so many people out of work already that only wall street execs can afford to buy a car – and that's usually a Mercedes or a BMW.

Good Job "W". You've shrunk our country with your stupid war and out-sourcing of our jobs.

Give them money, and like MM said last night, we OWN their butts. Tell 'em their new job is to make fuel efficient electric cars and public transportation that reduce dependency on oil, foreign or otherwise. I don't always agree with MM, but I think he's right about this one.

For all you people that keep saying the car companies have fought against new technology for years, maybe you should read the article on why americans can't get their hands on small cars on Vehix.com. For years our car companies have been shipping fuel efficient small cars overseas but have not been allowed to sell them in our country, thanks to our government's desire to keep supporting the big oil companies. So, since our wonderful politicians have essentially created this disaster, they should approve the bailout and let these automobile makers sell these vehicles in the US.

Give them $25 gas money and send them home.

This people should not get a penny of the American taxpayers money. They need to take some of the millions they have earned in the past several years and bail out their companies. They are corrupt and greedy people

Watch out for Nardelli. He already took Home Depot for $230M and left them in a mess. Can't imagine the increase of bail out dollars is in anyway re-calculated to fill his pockets….hmmmm. Seems ironic that one of the prime examples of exhorbitant CEO salaries/pay-outs (Nardelli) that helped get us in this mess is now going to congress asking for money. Pretty hard to trust that cat.

There cars are too big and ugly–they need new designers who dont think that big is better- the streets look like battlefields with all the ugly cars(SUV's).

Have some of you actually seen what the foreign automakers are building? Some of them are building just as many gas guzzlers (Toyota Tundra, Toyota Sequoia, Nissan Armada) as the domestics, and YES, sales are down for Honda, Toyota, and Nissan.

If you think that Honda, Toyota, and Nissan will take up the slack, think again. They use some of the same suppliers as the Detroit 3. I don't believe that Honda, Toyota, and Nissan is willing to sacrifice their money to keep the suppliers going if the Detroit 3 fail.

Hey GM just one question. Hows that HUMMER idea working out for ya!

Mulally just told the American public all the things they did wrong. Fleming just told us about dealerships closing; who's fault is that? HIS! When you go into an interview and you tell a prospective employer about your egregious mistakes, should they hire you? NO! The automaker management teams and shareholders should sacrifice like all other American small business owners: give up your salaries and invest in your company if you believe in it. The problem isn't just the CEOs; they are protecting their shareholders. The CEOs are shareholders. You can't tell me that the thousands of shareholders can't figure this out on their own with their money. As a small business owner, I am struggling to keep it afloat with MY money, making decisions as quickly as possible to correct things, tapping experts for advice to make the best possible decisions. Why is no one asking them to step outside of their roles to look at the situation as an independent business owner? As a small business owner, you look at them and say "Bummer, you really screwed up so sacrifice and figure it out!"

If anyone should get bailed out, it should be Unemployment because the money goes directly to the people. If the companies go under, Unemployment will cover them. The CEO's will get HUGE packages if the companies go under and they can rest on their million dollar laurels while the unemployed scrape by.

NO AUTO INDUSTRY BAILOUT

The Big Three had their chance to improve for the better!

They should not be bailed out!

A failed company is a failed company, size doesn't matter!

I don't buy the "Too Big to be allowed to fail" argument.

We lost 209,000.00 Tax payers last month…..

We can't afford these bailouts!

Now that Ford and GM will sell their Jets. Shall we say that our Hearts bleeds for them. Now we will see the CEO's of the Jet Companies will be coming to Washington for their Hand-outs. And the American Taxpayer's can get no Help. With out us, there will be no need for the Auto makers…..

The 3 CEO are carnivorous and must be booted. They are money hungry. If they can afford to get $1 for a year, they should also get rid of there holdings on the company stock as well. They have been producing automobiles which have greatly polluted the environment to a very great extent. They never ever thought about it but made miseries in customers life and pocket. Sorry to say they must never get the bailout funds, it is foolish and stupid to sy all workers will be out of jobs. Other manufacturing industry will hire them. The CEO of the UAW must be booted as well. They never thought about the customers but were only greedy to pocket money.

Add all this to the liberals 50 billion dollar State bailout coming soon and next years budget deficit is shaping up to be more than 1 trillion dollars! The highest $ amount and % of GDP ever!! Change we can believe in??

I must say I am one ot those who usually don't buy American cars. Had one, and it broke down easily. Had Japanese cars, and they are low maintenance and last for years. People talked about mileage rate as their problem, but the main problem is American cars broke down easily, and people are reluctant to buy them. I don't what will it take to change that impression.

For 3 decades, we have asked for RELIABLE and now more efficient cars. Japanese auto makers started years ago. The arrogance of Detroit is beyond comprehension. Now they want billions for bailing out the ridiculous demands of the unions and the incompetence of management – NO, NO, NO!

In case I am not clear – NO!

THIS IS ALL IT WOULD TAKE TO GET US OUT OF THIS MESS:

Give EVERY legal USA citizen that filed taxes $1 MILLION dollars!!!!!!

The Stipulatin: They MUST pay off ALL debts, including homes (if possible), student loans, etc. A credit check will be run on everyone that qualifies and debts will be paid before distribution.

Whatever is left – the person does what they want!!! Most likely they will SHOP, buy CARS, INVEST, start BUSINESSES, RETIRE or even SAVE… The economy would BOOST itself!!!

This will cost the taxpayers less than $300 Million. THIS IS A LOT LESS THAN THE $BILLIONS$ THAT IS BEING ASKED FOR.

CASE AND POINT!!!

Of course.., its the old ploy of begging for more than you need to get as much as you can. And the same thing will happen next time if we give them anything..

Investigate the 2.7L Mitsubishi engine in various Chrysler cars and you have unearthed a quagmire of deceit, bad management practices,and poor quality in car manufacturing! Apparently this engine had been known to have a badly flawed design which allowed water coolant to adversely come in contact with engine oil, inducing a sludge in the crank-case. This destroyed the engines of many of these cars and the company looked the other way. The many anecdotal statements of cars owners placed this deceit on the manufacturers who knew that this car engine would perform thusly and did nothing about it. Buyer beware!

Karon I agree with you 100%. The Big Three are trying their hardest in these tough economic times they're cutting back as much as they can. I have a great idea to raise money for the Big 3. If they raffle off the Cars that they drove to Washington this could raise some decent money. I know I'd buy some chances

I want them to jog to Washington next time …

So the big three gets their bailout,

how come they still can't build a car that I want to drive?

Simple. Let every Purple Heart recipient, or surviving spouse, and every surviving spouse and parent of a serviceperson, or police officer, or fireman, or other first responder who has been disabled or died in the line of duty, go to their local car dealership and pick out a car or truck. The dealership will then do the paperwork letting them have that car or truck, at invoice price, and get reimbursed by the Federal government in full, plus an administrative fee. Yes, a free vehicle for those who have given this country the priceless gift of their blood. The recipients are all deserving, the dealerships get their inventory reduced and a sale at the expense of the Federal government. Easy to document that the benefit goes to the right people – and they get a big thank you from a grateful nation, for their sacrifice for our freedom.

I HAVE A GREAT IDEA, IF I MUST SAY SO MYSELF.

I PAY TAXES, A LOT OF TAXES. THIS IS A BILL FOR ME.

AND I SAY TAKE THAT 34 BILLION DOLLARS & GIVE IT

TO ALL THE WORKERS & TELL THEM TO GO HOME &

REGISTER FOR SCHOOL THE NEXT DAY. THESE GREEDY

DEGENERATES HAVE BEEN PLAYING PULL MY FINGER

WHILE THE ENTIRE US AUTO INDUSTRY WAS PRODUCING

DINOSAURS. THEY WERE GETTING THEIR MONEY. THEY DIDN'T

CARE. NOW WE DON'T CARE. LET THESE CREEPS BANKRUPT.

I agree with what Michael Moore said lsat night-Time for real change in the Big Three's operations- Bring in progressive, bright-minded people!

SAD!

CEO hurt their own efforts…

1. Last time they came in jets
2. This time they came in cars
3. Offered to cut their wages to $1

How many Amercian and Canadian auto workers can cut their pay to $1 and still survive – an insult to the average worker!

It is BETTER if the Unions try to make "the case".

My instincts tell me that the three car companies should be left to sink for mismanagement and poor business decisions. If the ordinary consumer – who will the taxpayer bailing out GM, Chrysler and Ford in this case – made the same decisions in their credit and purchasing choices, as many have, they WILL go into bankruptcy, but will not have the opportunity to restructure and come out a year or two later in better condition than before. On the contrary, the consumed's interest rates are jacked up to usary levels of 30+% and are dangling in bankruptcy hell for ten years or more. It is time these big corporations suffered likewise, instead of rewarding themselves huge salaries, bonuses and stock options, and cars people no longer want to buy. While the collapse of Enron, Worldcom and there ilk were based on fraud, where is the fine line between corporate deceit and deception of the consume that is crossed into fraudulent practices?

I have an idea. Let me use my own tax liability money to pay the $12,500 health insurance bill my husband and I face every year as retired 60 yr olds. As it is, we will be paying not only for our own, but to support two auto workers and their families. So much for preparing for our own retirement. Or is this BO's idea of redistributing OUR wealth?

In response to Karon, the AIG CEO did say he would take a $1 salary. When does it end? You can't bail out everyone, let the auto industry fail. They dug their own hole when the submitted to labor unions and didn't adapt using technology we already have.

This is just another waste of money. They will get their billions and they won't turn it around unless they can give us cars that are better than Toyota and Honda and if they get the gas alternative cars on track. the whole bailout is a scam anyway. it is thievery of America.

No bailout for the greedy CEO's. We all know they want it for themselves. This country is in enough debt.

Will these greedy fat cats use the money in their foreign operations. Are those the people who will profit with more hiring? Will the auto bosses bailout the foreign parts of their company? I want all the money to be in the U S to hire our own. Why not replace top management? They have proved for over 25 years they cannot get the job done. And Chrylser, this is their second time around. Did Chrysler not learn the lessons from before as they were sinking further into despair?

Not unless they go to Bank-O.

The airlines didn't beg for a bailout and instead filed for bankruptcy to restructure. United, US Airways, Northwest – they are all still in business after going through a restructuring. That's what these auto companies need to do.

They need to bring in new blood at the top that can think outside the box and figure out how to develop attractive, fuel-efficient or electric cars that can compete with and exceed Japanese standards.

I fear though, now that gas is back down under $2 that people are going to quickly forget the pain of $4 gas and think that they can eventually just go back to buying big gas guzzling SUVs.

Don't give them a penny!

AE, the big 3 automakers have to deal with unions and high health care costs that Honda and Nissan do not. There are also regulations that have been imposed on US automakers that make them less competitive that have not been imposed on foreign manufacturers. We need to help Michigan and Ohio and all of the people who count on these companies.

Folks,
first of all I fully understand your comments. But did you forget that for to many years everybody was asking for pick ups or SUVs under the headline "there is nothing but cubic"? You have been the "market" for a very long time. Now, everybody is blaming the Big 3. This is similar to the housing market where everybody thought that the bubble will never burst.
The new President will hopefully turn the page and the US citizens will follow his ideas and values. If not, the result, not only for the US, will be horrible. Please grow up and forget the past. The future is our challenge.

Let them file for bankrupcy, reorganize and start over. Why not give that 700 billion dollars to the American taxpayer. I think it would come out to about 65 thousand per person. We would then be putting cash into the system, keeping jobs I really don't like owning banks,and auto companies… unless I can put it on my resume.

I'm with Mitt Romney on this one. Let the auto industry go bankrupt. They can reorganize and rebuild from the ground up. This problem arose from poor management. External factors played a huge role in this, but a clean slate with new prospects and management would be extremely beneficial in the long-run.

Why are these guys being allowed to keep their jobs? If your business fails, and you come begging to the feds for money, one of the stipulations should be that the head of the company needs to be replaced. Why give more money to the same people that ran the business into the ground? These UAW people need to give a bit as well. I learned yesterday that new UAW hires are guaranteed $14.00 an hour to START, that's part of the UAW contract. That's ridiculous. No college needed, no prior training needed, incredibly good health care plan, and $14.00 an hour starting pay, that's why these auto makers are going under. The UAW has been sucking them dry for years. Foreign automakers are way ahead of us not because of they make better cars(which they do), but because of their contracts with their workers. This is a joke. Who's going to bail out the mom and pop shops that are going out of business daily all across the USA?

34B is relatively peanuts to save millions of jobs. Why should we punish all those workers due to the greed and mismanagment of the top dozen or so. Make them accountable – not those employed. The unions hav said they will work with and make consessions, too. Lets not punish the little man and ourselves ultimately because of a knee jerk anger at Wall Street Greed and their bailout

I'm amazed at the number of people in this country that want to see the re-emergence of soup lines. Can we really afford to lose 3-4 million jobs in one fell swoop ?

CHRYSLER IS OWNED BY A PRIVATE CAPITAL FIRM!! (Cerberus) Why in the world should tax payers bail them out???

What some people fail to realize is public demand drives the industry to create what they want. Just as well as the vote we cast for a new change in political policies. How many states are in trouble looking for federal money? Aig got hunderds of billions with no promise of repayment. The big three ask for less than fourty billion to save over a million jobs? Wake up folks help your fellow worker.

I think they should get $.35 from the government so they can call someone who cares. I will give it to them myself if I have to. Say NO to bailout.

I ran my business into the ground making bad decisions. Where's MY bailout?

I do not think they should be given the oppurtunity to mismanage even more money. And if they can afford to work for a dollar, that means they have been grossly overpaid for years.

Matt,

This shouldn't be about addressing past transgressions, because that's fundamentally petty, and a waste of time. Try to think about what it takes to build the future. I agree that the car makers' current management is more or less irrelevant, so let's focus on creating a transportation industry that's viable for the future.

Stop thinking so small.

These Companies GM, Ford and Chrysler represent Americana. I'm a taxpayer and I say give them the Money. My tax money went to AIG and Citigroup I had no say. I'd rather it go to save the Greatest American Industry we've ever had.

I can't help but agree with Matt. Maybe without the Big 3 around stifling new technology (think the Tucker of the 40's, the EV1 of the 90's…), perhaps the resources and market share will open up to some truly inventive and affordable new automotive technology.

Looking at so many unsold cars this year, I don't see why we should help the big three produce more cars for next year. What we need is exactly what the White House insisted: Give money for the big three to do research on energy-efficient cars.

I will add to send the willing auto workers to get more education with vouchers. This will help transform their unproductive jobs into better ones. Obviously, we don't need so many auto workers. The belief is that if you keep your company big, the government won't let you fail. This is one of the incentives that drove the big three to stay inefficient. Why should we re-enforce that belief by bailing them out?

We don't need three inefficient big automakers. Two would be plenty. Giving more money for them to repeat the same mistakes longer will be another big mistake. Had we given 25 B to them earlier, it would not have helped as we can see now.

If the companies are not worth 34 billion, then why would we loan them that much? If we are going to lend them much more than they are worth, then it's not a loan, but a buy-out, and we get to call the shots on what to build and what to pay executives. I

And, Paulson & Bush think they have made away with 700 billion dollars, unaccounted for. I say, think again. It may take awhile, but accountability will come. I know we shouldn't wish bad things on other people, but these two make it extemely difficult. At the very least, they should feel a sick feeling of stress in their stomachs the way they have made citizens feel from fear and angst.

They make crappy cars! Let 'em fail!

The "crappy" cars they made were being bought, by us "narrrow minded" consumers. While they deserve some blame for the crisis they are in, I doubt anyone was prepared for the triple whammy of high fuel prices, the credit crunch, and major recession that occurred.

So let's stop the bashing, shall we? If the auto industry fails, what exactly will we actually "build" here anymore? Yup, NADA! Too much is at stake here. We've already ceded too much to the Chinese and others.

I for one, support a bridge loan to the automakers. At least they were trying to satisfy demand. The financial bailout is far worse.

34 billion here, 34 billion there. When does this stop? The only thing worse than these corrupt incompetent businessmen are the politicians willing to bail them out at our expense.

Ask the American Nissan worker or the American Honda worker. They are not suffering under the same environment. So the big 3 are just lousy companies. Unfortunate for the workers. But if there is a demand for cars, they will get picked up by the companies that work best. If there is no demand for cars, the bail out will not save their jobs either. So, save the 34 billion for jobs retraining for the loyal workforce that was poor lead.

I saw Michael Moore last night. He had a great message that I agree with. GET RID OF THE TOP DECISION MAKERS AT FORD, GM, AND CHRYSLER. Put some younger thinkers at the top, all 3 companies HAD a change to make more fuel efficient cars. They had years to do it now they want the tax payers to do it at the expense of the hourly workers. NO FORESIGHT, THINKING AHEAD. . et I hope our government puts so many strings on the LOAN the ones at the top will resign on their own because they won't be able to live like KINGS and the workers live hand to mouth.

Cant say enough that this is a chance to change, either they include a restructuring of the industry to better fit the times as far as fuel dependency and affordability, if they cant do that, let em go baby. What a chance to get out of this mess alot of Republicans keep sticking us in, Democrats been saying for years and years and years to save money, and turn the tide on the oil problem, has nothing to do with liberals like alot of brainwashed cases might like to think, its just common sense. Losing jobs is the problem, but id imagine there are peolpe ready to fill the void, its America after all, i mean they've had the technology for some time now……anyway whatever the case this is one of those things that isnt as simple as some may wish, another reason im happy we have a Democratic president finally, but god only knows what agenda theyll push in the final days. I just wouldnt be so quick to be distracted by how much their flight cost, keep your eye on the ball, keep getting caught up in the media BS people. Forgetting how normal it is for everyday millionairse to fly places, i mean we sit here bickering over that while they ask for billions of dollars…Sometimes i think MTV has infultrated the news. Anyway stop being so simple minded people get with the program.

NO BAILOUT unless it's for regular people! I hope they don't get a dog gone thing!

Why do all the major dealerships have a $500,0000 distributor show room to show off their cars, also why do these companies have so many people working in the showrooms where they have five [ 5 ]
people to take you money for the puirchase of the car the same work could be done with two [ 2 ] people. folks this helps add to the price of the car by several thousand dollars.

let the automobile industry go broke. we cannot bail out everybody.

the government can sent me a check for two hundred thousand dollars which would make me set very well for a long time..

the ceos are now working for $1.00 with all the perks $21 million in commission i would work for nothing when the perks are given up then i would say give them a helping hand.

let all the big wigs read this and if you know someone who is in this industry then tell them about this post, thanks

WHY is there a different standard to the greedy Wall Street bunch who still throw $460,000 weekends and promise their CEOs their bonus won't be as good but they will get a bonus?

The CEOs of the Big Three are willing to forgo salary just to get their companies back on track! Has any of the banks or wall street firms (AIG particularly) offered the same??? NO!

Besides, the Big Three actually offer tangible products that we can see will sell (with alittle retooling). The ripple effect of the Big 3 falling will be devisating to the economy – there are thousands of little companies that supply the Big 3 and they will fall also! We CAN NOT lay off another 5 MILLION people! It will make the US a third country – poor!

The automakers certainly don't deserve a bailout, but (unfortunately) the country needs the many many jobs they provide. They should get a bailout with major modifications: CEOs max pay at 400,000; higher fuel standards every five years, get tax hike for every job they outsource, tax cut for every job they create

This money will only pay current bills such as Payroll, Part companies etc. They do not have any products that are ready for production, such as a electric car. Even if they had products the past history shows people do not view their products as reliable and the consumer would be very skeptical to even purchase them.
The money would be better suited to small companies that have already developed the electric car and build production facilities such as Tesla Motor Company.

I do not understand why the financial markets who produce nothing that adds to the GDP nor employ few, if any, of the inhabitants from Main Street can get $700B without explaining rhemselves and the auto industry has it's feet put to the fire for $34B. Granted the auto industry is responsible for the predicament they are in at this time. However, I think they will begin to clean up their act now that the attention of the American people is focused on them Take the $34B out of the $700B and let's get moving!

It's sad that we have to make this decision but let's not get brain dead and make a decision based on emotions. I can say that I don't want to bail out the auto industry because it's not fair but there's no numbers or stats behind that statement. This is the real world and every decision that we make will have huge consequences. All these bailouts are unfair but no one is asking if these bailouts are necessary. I know everyone wants to be vengeful and make the execs suffer but these are real business decisions about America's future. Emotions should be put aside.

All of GM's stock combined is worth about 3 billion. They're asking for 17 billion. This doesn't add up. The government should buy the stock, which is much cheaper and give it to the workers who in turn will call a stockholder meeting and fire the current management. Current car manufacturers should be trying to partner with new technology companies like the one that is making the Tesla. If a void is created, something will come in to fill it. The forest has to burn for regrowth – the market has decided.

When a CEO makes 2 Million a year in salary but has 21 million in bonuses I don't think so. I could kive very, very well on that for the rest of my life, my kids could live on that for the rest of their lives and on and on and on. the interest on 21 millions @ 3% interest is $630K a year!!!!
I think I could live on that. How 'bout you?

The $1/year is deceptive. They'll take stock options and other perks that will probably hit the stock-holders and taxpayers a lot more in the long run. Greed is rampant in the Auto Industry. Has been for a long time.

It's not the auto industry's fault. When W came to power, I heard that the oil companies and other men of importance, killed off initiatives to help build great cars. Had Gore been our Prez, we wouldnt be in this mess. We'll be like LIGHT years ahead of all our competitions. Men and women, please choose your leader using wisdom not emotions.

we cant afford 3-4 million more losses in jobs. jobs are and should be our first priority.

Bail them out, it is (and they are) no different than the insurers and banks that were bailed out earlier. They made stupid decisions by lending money to people that could not afford it. Lent on on homes that have ben overvalued for years. What's the difference?
And they still held their lavish partys until the people ranted. Then they gave in. Difference now is the media is starting to report a little more objectively than in the past.

I can hear their little tin cups and their big private jets all the way to Minnesota! I find it funny that Honda Motor Company has faced the same struggles as these 'Big 3,' yet it's had no problem maintaining profits, sales and adapting to consumer needs. Maybe the zen masters at Honda need to come teach our 'Big 3′ how businesses SHOULD be run!

Let the have to file for Chapter 13. Why should we have to pay for their mistakes. It was their blind vision in not building fuel efficient cars and letting unions strangle them that has led to this mess.

Yuo know we just need to retool them and they'd be fine. People's lives depend on their abilities to provide jobs.

Help save people like Eminen. I watched 8mm by the white rapper, Eminen and it was pretty good. It showed how the less fortunate are kept alive by the auto industry. To keep them alive is for a good cause!!! I hate the AIG bailout without no oversight!!!!

at least they are not having the police pull people over and drag them out their cars when they payed for their car!!! Thats what the Bankers in wallstreet did to the AMerican Homeowners!! And they had to suffer because of their mistake, and then gave them a 700 billion dollar BLANK CHECK, and then SNEEKED another bailout under our nose!!! *rolling my eyes*

CONGRESS, just stop waisting these peoples time and tell them the truth, we DONT HAVE ANY MONEY BECAUSE WE GAVE IT ALL TO WALLSTREET!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

$1 a year? Really? Wow, some stunt.

$1 a year is too much for those scumbags, though.

I hope that they do not receive the bailout, just the fact that they have agreed to a salary of $1 annually, lets one know that 1) they have plenty of money to go around 2) they are counting on those huge year end bonuses

GIVE THE MONEY TO THE AMERICAN TAXPAYERS, SOME OF THE TAXPAYERS WILL BUY CARS

I've had my license more than 20 years and I've never once purchased an auto made by the Big Three.

I've also only purchased two cars in that time, (both used cars, mind you) so you do the math.

Tell me again, why we're using taxpayer money to bail out buggy-whip makers… and not JUST buggy-whip makers, but FAILING makers of INFERIOR buggy whips?

Let the market sort this out. Let the chips fall where they may. Let consumers purchase they products they desire and let the winners win and the losers fold. If the Big Three actually wish to compete with Japan and others, let them make the tough decisions they need to become not only solvent but successful… WITHOUT a handout from Big Gubmint. Otherwise, we'll be right back in the same predicament five years from now, if it takes THAT long.

What Matt said.

Man, where are they getting this money?? China?! LOL!!! I'm playing, I'm playing…

34 billion bucks? What if they can't get nothing done? Or let alone, not make a difference? Maybe a little complicated than it looks. But I gotta say though, what the heck happen to the 700 billlion dollar bailout? I mean, I haven't heard nothing. I guess is O.K…I mean, that is a lot of money, right? LOL!! I just hope in the end I get some of the pie because I want a taste…

For real, what happen to it? I just barely thought about that…I'm a genius!

To the Batcave!!

We have no choice but to make sure the auto industry survives. There are too many jobs, spinoffs etc that would be sacrificed and our country cannot surive too many more diasters.
Certainly there was mismanagement and mistakes. And stipulations etc have to be in place.
But their problems are nothing compared to what the financial institutions have done to us. And, they are allowed to continue on
with business as usual, thumbing their noses at the taxpayers and
using our money for whatever they want. Just one, example, Citigroup paying $40 million for their name on a stadium. Cannot understand
how and why this is being allowed?? They should not receive one
more cent from anyone until they get their act together. And, they have received much more from the treasury dept than the bailout.

Well at least they drove in this time, but I sure wish that I could take my bills to congress and get a loan. I can't even get a loan from any of the banks that my tax dollars helped bail out.

This country and all its politicians are controlled by big banks and special interests. Corruption at it's highest level.
How can insurance companies and banks gets easily bailout money without any questions asked but auto industries will have to do 5 days pleading in front of congress?
Something shady is going on here. You either help everybody or do not help anybody period.
They're all responsible for their own poor management and failure with the benediction of the same politicians they helped put on power financing their campaigns. This whole bailout staff is a circus.
Who is next? the oil industry with their surplus or the aviation industry?
Cnn post my comment.

People in Michigan have been hurting for years and are now living on food stamps to survive. We have doled out banks with no strings so that they can buy other banks, but we cannot help automakers who employ thousands upon thousands? It is unconscionable. The midwest will be even more decimated than it already is.

These CEOs just don't get it. Grand standing with sacrificing their salaries to $1 per year —when they are completely silent on those bonus packages that are more than their hefty salaries— doesn't cut it. What they need to do is never going to be presented by them. Michael Moore was on Larry King last night and reported the Big 3 are seeking more money than their businesses are worth. Now what's wrong with that pictures? Would you loan someone $700,000 for a house that's only worth $100,000? Bailout money is no different.

It makes me mad that bush and congress is tripping over themselves to give our money to the banks and AIG without any conditions yet they are going to refuse to offer a loan to the auto makers to help them out.

The media makes it sound like most Americans do not want this loan to happen (it is not a bailout like the banks but is a loan that will be paid back). I do not know one person who is against this. Everyone I know sees the disaster that will happen if the auto makers fail. Everyone sees it except our president and congress.

The difference? White color workers (banks, AIG) and blue collar workers (union workers in the auto factories).

Help Ford out as they have been making some progress; let the other two die.

Americans are not happy with bailing out an industry that has had its collective head-in-the-sand for years! Instead of thinking, of being visionary……. they have continued to built crap, to build Hummers, 'Explosions' (as my kids call Ford SUVs) and now after their failures they come hat in hand! SHAME ON GM…..FORD…… and CHRYSLER!

The ONLY sympathy I have is for the AUTO WORKER! Its not their fault that the companies they work for are so mismanaged, so totally stupid!

BEFORE a dime is given to these idiots, the current CEOs & CFOs SHOUlD BE FIRED!

Wages frozen, no bonuses, and no golden parachutes!

I want to know their plans for the bailout. If it's to help the CEO's have conferences in a resort in California (AIG), forget about it. It's it will directly save jobs, then okay.

The companies shouldn't get a red cent until every single one of the greedy, selfish, narrow-minded, environment-wrecking cavemen who have been running them are fired and forced to return a portion of th emoney they sucked out of th ecompanies during the past year or moer. They knew this was coming but kept fighting against new technology, making crappy cars and paying themselves silly amounts of money so they could live lavish lifestyles while thinking to themselves that everyone else could take a flying leap for all they cared. Ruin them. Please.

I think Chrysler shouldn't be given anything. They don't offer one hybrid vehicle and haven't made any attempts at it. So Chrysler(Dodge and Jeep) should all have to fend for themselves. I believe GM should cancel the production of Hummer and Saab. They have a few hybrid vehicles but have worked very hard on the Chevy Volt, which I give them credit for. Ford should give up either Lincoln or Mercury. These cuts would mean congress doesn't have to give as much money, and a majority of each company is still saved.

My main concern is that a large number of jobs would be lost if these companies fell through, which is the only reason I support money being given to them. But only if they promise to produce all Hybrid or electric vehicles, and invest in other ways to help us travel, like hydrogen/ solar etc…..

Let them go down! Do you honestly think if no one said anything at all about them flying in for the first begging, they would have driven this time?

Get rid of UAW and maybe we'll talk. They are one of the main reason that costs have gone up for the American vehicles. I am not for tax payers money going towards the UAW so they can continue to strong arm these companies into ridiculously high wages and benefits.