CNN

The successful automobile manufacturer would make cars Americans want to buy – high quality, fuel efficient, low emissions. Let the American Consumer Rule. After decades of fighting fuel efficiency and emissions standards, the chickens have come home to roost to U.S. automakers, and it isn't pretty.

Why are ordinary American taxpayers continually pushed to pay cash for trash? Those of us who manage our household budgets, make purchases carefully, plan for our future need to stand up and say, "Game Over."

Where are the oil companies in this? Perhaps they should share some of their obscene profits with their brothers, the automakers. Don't tell me Big Oil and Big Auto aren't good friends.

Praise the Creator... whenever you see the light and have the courage to declare it... its a holy day! Sooner or later all need to see that Bush/Cheney... those "so called" emperors were wearing no clothes for the 8 years of their reign. And way to many were fooled..... let "the scales fall from your eyes," People... and support the man who is trying to bring us out of the Bush/Cheney nightmare

A bootlicker for #44.

It is so sad that we have an obama appointee running one of America's most prized companies. I can't believe I'm seeing this. Obama is ruining this country

Now the U.S. Government is in the automobile business. You know what they say about lawyers and automobile salesmen(women).

I say let all of these God ^&^^ companies fail....The CEO's are making the big bucks. I just got notice from Bank of America that they are raising my interest rate and I contacted them as was told due to the bad economy. Didn't we just give BOA billions of dollars? Now these GREEDY Sobs want even more money from their card members who have been loyal with an excellent standing with them!!!!!!! I say hang the CEO's in the middle of time square....And to Stabenow's statement that "Bankruptcy should not be an option for Auto industry". Millions of American are filing bankruptcy so should the big CEO's and companies. I wish that Obama would give me Millions of dollars.....People of America when are we going to stand up and say ENOUGH IS ENOUGH OF THIS BS !!!!!!!!!!!!!!!!!!!!!

Let them all fail, exeuctives and union memebers alike they are all greedy!

1. fold the car companies into one company

2. let them fail

It seems that the alternatives are never considered in the media (and in many of these comments). The only choices are all hard ones:

1) Leave the CEO and company alone, said okay, no more bailouts, do what you will (go bankrupt)... Your on your own!

2) Stick our heads in the sand and say okay, here's another bailout and we think you're the greatest, just come back next month for more!

3) Or do what we did and insist on changes at the top and give someone else a shot at saving the company and jobs by creating a viable plan?

As a co-owner of GM, I support #3.

I'd love to hear some of these interviews, but I can't stand the John King circus or his wife Dana Bash or fat-faced Ed Henry. They are sickening. Wish CNN had a decent interviewer. How about Fareed for a change? Get rid of the slime.

At least Henderson realizes that GM is no longer a private company, and the first allegiance is now to the taxpayer not the stockholders.

Also, to all the dittoheads saying "Obama is taking us down the road to socialism".

I would like to remind all of you neo-cons that GWB was the President that approved the first bailout funds for GM.

So, if President Obama is taking us down the road to socialism, he is only following behind repubs, who actually built the road in the name of corporate welfare for the fat cats!

Sure we can take things off the table. Starting with OUR tax dollars! Idiot!

I did not know Obama had business or auto manufacturing experience.

I supported the first one for GM but it may be time to let them go and concentrate the efforts at keeping Ford afloat. Ford is in much better shape financially and I think America needs to maintain at least one auto manufacturer for security purposes. I neither work for an auto manufacturer or supplier, nor do I know anyone that does.

I understand that GM cannot choose reorganization since that would take more than 80-100 billion taxpayer's dollars to pay GM's expenses during the 2 year reorg timeframe because they cannot get credit from the private sector while the reorg takes place. Therefore, they should liquidate instead of reorg. That would cause huge problems such as flooding the market with cheap cars in a time when no one wants them. Therefore, subsidies should go to Ford during GM's liquidation when everyone is buying GM’s cheaper cars and none of Ford’s since they would still be at market value. Also, the battery research and development program of GM should be moved to Ford and not sold during the liquidation.

Therefore, we could stop sending billions to GM of course we will still spend billions on unemployment benefits and health care cost for the hundreds of thousands that will lose their jobs both for GM and associated industries. Plus the pension quaranty fund will pick up the legacy costs of pensions and when that goes belly up, we taxpayers will once again be on the hook, It will be costly either way, but long term I think it is better to let GM go and liquidate.

It will very painful and disruptive for many, many people and I truly hate that fact, but, I do think it is time to try and save at least one American automaker and that should be the one that is most viable now.

I love it. Did I read this wrong, or did this guy basically just say that they don't have a plan. This is stupid. Let them fail!

Have always been a GM family. Current 2004 Impala ( 6 cyl) gets 33-36 on the highway and 26-28 in rush hour traffic. Affordable at 18K in Jan 2005. Has 128K miles and runs like a top. Only major repair was transmission (@124K) due to stop and go traffic every AM. Looks great, runs great, and AMERICAN MADE. I believe GM needs to do some better advertising to convince the American public of GM's quality American products. They could also improve by cutting back on some lines making the same car but under a different name: Chevrolet, Pontiac, Buick, etc.

I wonder how many folks here know that the so called Bailout money to the auto companies are loans? It confuses a lotta folks because the money to the Finance Companies were true bailouts – in that they wont be paying it back... does that matter to anyone...those folks here that have a hatred for american owned manufacturing?

A viable auto company can pay back loans if they stay in business, if they go bankrupt, they will become a true burden to the taxpayers of america. When times are good, auto companies make lots of money, and that loan will likely be paid back early with interest.

Lots of americans by american cars. 47% of vehicles in america are made by one of the three companies in Detroit, the rest are split by 15 other companies, who have most of their employees in a country other than america.

Just give this administration time: If the plan goes in the direction the "Great Himself" (obama) wants it to go you should be very happy.
Having listened to him campaign for two years telling you his plan to conquer and destroy Democracy you wanted that change, it's coming. Soon he will be the person in charge of naming CEO of all companies with more than 750 employees, he and he alone will tell those companies how much of their product they can produce each year.Union leaders will (as payback) permeate boards of directors. He will take your home because it is larger than you need and give it to someone more deserving, and that's just a beginning.

Enjoy the change and Have a Great Day.

why is it the minute we drive our cars off the lot, they have already lost thousands of dollars in value???

The democrats are trying to protect one of their major voting block... the auto unions.

GM prudently retained bankruptcy counsel some time ago and they are certainly working on a prepackaged plan which will reduce the time to emerge from court supervision and not scare consumers away. I don't think either management or labor is realistic or courageous enough to make the cuts which are necessary, and a Chapter 7 dissolution may be the result rather than a Chapter 11 restructuring.

Give the bailout money to the suppliers and to heck with the "skilled" auto workers and dumb executives. Toyota has had the Prius in showrooms for over a decade and GM is just beginning to get theirs out !!! HELLO!!!!!

This has got to succeed with this government running it. I am sure their stock will go up. I can see the investors lining up now.

@phoenix86,all you seem to do is find fault in what obama did,either rightly or wrongly.If you have an incompetent manager in charge of your asset or investment,dont you think you've got a every right to know if the investment is managed properly.Its all about optimal service delivery for every taxpayer cent invested in GM,not socialism

Tim Duplanty
Well said sir. You are spot on with your assessment.

Obama is tough on everyone except Dodd and Frank who are behind and responsible for this mess as much as anyone. But what do you expect from the king of hiring tax cheaters.

just fire all the execs and start over

Don't let the Republicans miss direct the American people. This whole mess is about unfair trade in this country. Free trade and world economy has raped the USA of every good paying job we use to enjoy. Bring back the tariffs and problem solved for the working people.

phoenix86 - you just showed your complete lack of understanding when it comes to how businesses operate.

When a business needs capital to survive or to expand it turns to banks or investors to provide that cash. In this case WE became the investors, handing over billions.

Venture capitalists do this all the time - but they also take some degree of MANAGEMENT CONTROL in return, to protect their investment, including but not limited to sitting on the board of directors, putting in a CEO of THEIR choice, etc. You don't like it in your business? DON'T TAKE THEIR MONEY.

We, the people are now major investors in GM and Chrysler and that means WE GET A SAY IN WHAT THEY DO AND HOW THEY DO IT.

What you seem to want is the same crap Bush forced us to live with. Just give them the money and stand back and watch. They'll do the right thing. They're BUSINESSES!

I see IDIOTS.

Any business that is unable to produce and sell a desirable and competitively priced product deserves to go out of business. Our government has no right to take money away from cash strapped families to prop up failing businesses. I feel badly for those who would lose their jobs, but they will find something else to do just like those who used to make horse wagons, vinyl records, and beta max tapes.

According to FOX News, GM has always made the cars Americans want and we are destroying the company by asking them to make fuel efficient cars that Americans don't want. LOL!

FOX News (parroting the Republican party) also says that most of the $787 Billion stimulus money won't be spent until after 2011. Unfortunately, this is a lie according to the CBOE. They intend this lie to be a criticism of Obama that the money won't be spent within the next 2 years. However, if that WAS true, it would be GREAT. If the economy recovers by 2011, we can just stop that spending and use it to pay off the deficit. Win/Win for Obama. Lose/Lose for Republicans.

Why can't American car makers build the type of cars that Americans WANT?

I am talking about those folks who buy the foreign cars that are actually not foreign at all since they are made right here in the US.

American manufacturers: check out WHAT we are buying and WHY we are buying it.

Start with quality, then try to make it at a reasonable cost, and I don't mean inflated. We won't buy it!

A couple of thoughts ...
1. The current generation of business leaders is the most lackluster generation of economic leaders that America has ever endured. We invented the TV; we buy TVs from Japan. We invented the computer; we buy computers from China. We invented the (mass produced) car; our car companies are going broke. We invented computer programming; our Chinese computers are programmed by highly knowledgeable programmers from India. Our CEOs do not make products; they make deals. Our CEOs do not think past tomorrow's stock price. This is not to say that the current generation of CEOs has done nothing but drive America off a cliff. They have given us Netflix and the IPod and they do occasionally sue our children for downloading songs.

2. Those tax money who complain that corporations are misusing their tax dollars need to relax. Our tax dollars are going to pay for Clinton's impeachment trial. We're about ten years behind in our payments. The money for corporate bailouts was borrowed from China.

We'll take your money for the crappy cars we make to sell you, or, if you don't buy our cars, we'll take your money, regardless.

Let President Pulousi Galore handle it!

GM will take the taxpayer's bailout money first, and then will go into bankrupcy, of course, after paying out the executive bonuses. Why not?

We have been defrauded long enough. If BHO wants to fire somebody why not the president of the U.A.W. or Tim the tax evader?

Do the kind thing and pull the plug.

Just wish Obama had been as tough with the financial institutions as he is being with the auto industry since it was the financial institutions with the help of deregulation that caused this mess.

Where are the Demings? Where are the Fords? Where are the best and the brightest?

Totally irresponsible... Totally morons... We need to brew new generations of leaders with honesty, integrity, honor and vision for America. We cannot continue on the path of playing golf and mastering a piece of paper called MBA, BA. I feel like we're dying a spiritual death in America.

And he shouldn't........

We the tax payers own GM and that should be said over and over on the media!!!

It's nice that he thinks we should respect looking after the tax payers money. How about the unions getting on board with that thought?

In response To Tim Duplanty
I will not reap any rewards from Obama you know why cause I am a hard working American that pays my bills on time, pays my mortage, and also pays my car payment on time. I don't need the government welfare programs to help me I do it cause I believe in THE AMERICAN WAY, hard work leads to success. So you can take all your Obama plans to dummy down and bankrupt our country I will do my part in making sure I elect a conservative leader in 2012. Stop blaming Bush and Regan that's getting very old, your man Obama is making everything worse, THIS IS HIS ECONOMY NOW, you might want to let him know because he just keeps campaigning.

The President had every right to demand the CEO resignation as a condition to more of my tax dollars. This is the reason I voted for him. You want my money that this is what you'll have to do for it. Many years ago there was a company called Eastern Airlines. Had a president stepped in at that time the company would still be here. But because an arrogant, greedy Lorenzo and an equally greedy Union Leader were left to their own devices the company went under after Lorenzo stripped it of every asset. Those lawyers are still being paid when people like me lost my job, and my the pay they owed me. So do what you have to Mr. President. This gentleman that replaced the CEO is cut from the same cloth. Let's get somone really new in charge. And if the government hadn't deregulated the airlines we still would have had PanAm, National, TWA etc. I'd rather have the government regulating companies than taking away my individual rights as a citizen of this great country.
Again Obama had ALL the authority he needed when determining where MY money is going.

You know what All you people keep calling President Obama a socalist. When he turns this economy around please dont reap the benefits just stay in the mud. He has already said he does not want to be in the car business. Do you not think he would rather be fixing healthcare or winning wars. This crap was handed to him by an incompetent wrongfully elected President. All you need to remember is the Reagan era he started us down the road of dergulation and now what you have is a business climate that is only satisfied with 2 or 3 hundred percent profit margins or they are ot happy. We forget that hard work pays.

I have sent e-mails to all of the auto companies along with many of the politiacians from around the staes, offering a way they could make millions of dolars a week. With no response or I am not form there political area. This plan is so simple that it would work with little work on their side. The company or if the govenment would try this they would see how easy this would work. This plan may not save the economy totaly, but it would help alot more than what is being done today.
Just need one of them to try it and see.

And this highlights the problem, as Obama (who had ZERO authority to do so) appointed as CEO, then the CEO's political viewpoints become the indicator to measure his performance.

Nothing shows how Obama is socialistic more than his actions with GM.