I'm surprised no one has mentioned this yet, or if they have, I haven't seen it. However, I think the biggest problem with the Big 3 is the union. They're more greedy than the CEO. Correct me if I'm wrong, if the Big 3 file for bankruptcy, could they file it in such a way that they can restructure the company and get rid of the union. Is it just a coincidence that non-union automakers are building better cars and continue to grow while the big-3 tanks. I mean, I'm watch the UAW guy begging for this money. It's a bailout of the union! Would you rather have a little less pay, than no pay at all.
It's been discussed a couple of times: http://www.tigerforums.com/showthread.php?t=78540 http://www.tigerforums.com/showthread.php?t=78250 However, I agree with you and SabanFan that the Unions have killed the goose. On a very basic level, I agree with worker unions when they stand up for the mistreatment of one of their own, or fight horrible working conditions. However, it becomes one of those slippery slope issues where the unions suddenly don't want to comprimise on anything, for fear that they'll lose their influence. Once it goes past the basic protections, they start adding regulations that make the business they work for unprofitable, and will utimately cost you your job anyway. I think the unions made this mess themselves.
if they file, I'm not familiar with the law, but i would imagine a bankruptcy judge could throw out their contracts with the unions.
A lot of people think that the Big 3 should just be allowed to go bankrupt. It doesn't mean they would disappear, it would mean that a judge would restructure the company. He would be able to do things like eliminate corporate perks, fire the executives whose mismanagement caused the problem, put a cap on executive salaries, and restructure union contracts. Force them to be competitive with Toyata and Nissan. The executives can sell the corporate jets (which cost $20,000 a flight) and fly first class with Sabanfan for $1,500. Or they can fly coach with government employees and sit in the friggin' middle seat. CEO's might find that their $16 million salary job is still a good job at $3 million. Assembly line workers might find that their $75/hour jobs are still very good jobs at $48. If not, they can go find some greener pastures.
I'm leaning toward bankruptcy. They have big problems, and management won't do what's necessary within the current structure. The bailout most likely just preserves that. I think they are better off with a reorg plan and a bankruptcy judge supervising. We probably just need 2 car cos., maybe just one.
No. Bail them out with what? Money we don't have? We've spent over 700 billion on the war thus far and owe more billions to China. The first bailout was a bad idea, and this is another. Go with Mit Romney on this one.
They need to do what the airlines did. File for Chapter 11, restructure their debt and re-work the union contracts.
Ditto, You know its funny with all the rumors going around about bailing out the airlines once again and I've also heard rumors of other corporations possibly being bailed out. When does this end? It seems to me that politicians are interested in bailing out all of their fat cats and ignoring the American people, both sides btw. I heard a guy call in on the radio and say instead of giving all these fat cats the money, money the average American will never see btw. The government should give every proven American 1 million dollars to pay down debt and they would also put that money back into the economy. I want to stress that I was against every bailout to date, everyone associated with these bailiouts are making the wrong decisions unless its payback.
