Home > Jay Bookman > Archives > 2008 > November > 19 > Entry
I’m with Mitt Romney on the Detroit bailout
The Atlanta Journal-Constitution
I’ve been reading everything I could find on the proposed bailout of Detroit, trying to come to a definitive conclusion. Part of me wanted to let them fail as punishment for being so blind and obstinent for so long; another part of me worried about the consequences that failure would have, with ripples affecting the livelihoods of millions of innocent people.
At the very least, it was clear that we had to demand some serious concessions from both the United Auto Workers and industry management if we were to rescue them from bankruptcy. Otherwise, the $25 billion would only delay the inevitable pain.
Over the last few days, though, it became more and more obvious that Detroit didn’t quite grasp the seriousness of the situation, and that the concessions they were willing to offer wouldn’t be sufficient. Clarity came in reading Mitt Romney’s piece in today’s NY Times, in which he argued against a bailout and in favor of a managed bankruptcy.
Romney’s professional work in private equity and leveraged buyouts, combined with his family background in the auto industry, gave the piece a lot of credibility, and he argued his case well. I found it convincing. (It also reminded me of how intelligent, moderate and well-informed Romney had seemed in his primary-season interview with the AJC editorial board, a side he unfortunately kept largely hidden in his effort to woo the conservative wing in his party).
Romney’s piece also made me reassess how Barack Obama is handling the issue. He’s a sly one, that guy. The president elect has come out publicly in favor of a bailout in return for concessions, as he had to do given his labor backing and campaign rhetoric. But he doesn’t seem to be pushing hard for the immediate action that GM, Ford and Chrysler claim is needed.
Maybe I’m wrong, but I get the sense that he too is willing to let the companies fail, knowing that once they do, he’ll have a lot more freedom in trying to put them back together in a way that makes sense.




DEL.ICIO.US
Comments
By NRB
November 19, 2008 6:04 PM | Link to this
So Obama is going to put the companies back together after they go bankrupt? You Dems are hopeless.
By AJC/DNC Management
November 19, 2008 6:11 PM | Link to this
Yeah, I agree that Oblahma is a liar.
No doubt about that.
Anyone who believes that his staff is vetting Bruno’s “husband” for her fitness as the Sec of State is a nimnal and a dullard.
They are frantically searching for the telephone number of the Chinese dudes with all the kkkampaign cash, once they find that, it’s buh bye Bruno.
We won’t be seeing ya.
By getalife
November 19, 2008 6:17 PM | Link to this
Good CNN coverage on President Clinton campaigning in Ga. for Martin.
Jay,
Are you taking over for Wooten?
Geez.
By Class of '98
November 19, 2008 6:26 PM | Link to this
Jay, You also agree with Neal Boortz on this. Gotta hate that, huh?
Both yours and Wooten’s blogs are more interesting when you don’t toe the party line on every single issue.
Refreshing.
By @@
November 19, 2008 6:27 PM | Link to this
Maybe I’m wrong, but I get the sense that he too is willing to let the companies fail, knowing that once they do, he’ll have a lot more freedom in trying to put them back together in a way that makes sense.
Uhmmmm, jay?
The president elect has come out publicly in favor of a bailout in return for concessions, as he had to do given his labor backing
So what, jay? Do you think Obama’s looking to do only one term with labor’s support?
I’m convinced that everything Obama does is for appearances’ sake and nothing more. I remember early on when everyone was saying his delayed speech pattern was due to deep introspective thought.
Thpppbbpppt!
He was playing it safe. Choosing his words verrrryy carefully to avoid any unwanted consequences.
By AJC/DNC Management
November 19, 2008 6:32 PM | Link to this
Class: I wouldn’t get too excited-
(It also reminded me of how intelligent, moderate and well-informed Romney had seemed in his primary-season interview with the AJC editorial board, a side he unfortunately kept largely hidden in his effort to woo the conservative wing in his party).
Knowing Romney and his propensity to morph into a pinko at the drop of a hat, according to whom he is pandering before, I’m sure he sent chills up the legs of all the libs at the Urinal.
By TW
November 19, 2008 6:34 PM | Link to this
Thanks for the wise words, Jay. After reading Romney and watching about an hour of Dodd’s crew grilling the ‘pompous three,’ there is simply no way to justify $25B worth of corporate welfare for those incompetents.
Very much shared the sentiments of Coker from Tenn.
On a side note, the week after 9/11 I bought a new Silverado, red nonetheless, as a show of both confidence and pride in the country. Sadly, the service I have received over the last seven years has been pretty crappy - not that things don’t happen. But when, the week after the warranty was up, the window wouldn’t go up and they told me the part was about a hundred bucks, but I was going to have to pay five hundred because ‘they hook it to another part so you’ll have to buy both,’ I made sure the next vehicle was a Toyota.
Americans are more than willing to buy American. Taking advantage of this is not American at all.
By catlady
November 19, 2008 6:43 PM | Link to this
Letting the auto industry fix itself without a bailout not only helps the industry in the long run, it sends a message to other folks who think they are “too big” or “too important” to fail that they’d better get their acts together, ‘cause they are on their own. They should have done this earlier. Tough times for the short haul, but maybe better times ahead.
By AJC/DNC Management
November 19, 2008 6:46 PM | Link to this
TW: The door panel pops off with just a few screws to remove, you check voltage at the window drive motor and if you got 12 volts with the switch on, it’s a bad motor.
About 20 bucks for a new one, I’m guessing.
Are you liberals really this hopeless?
Must you seek assistance for every little tiny issue that comes up in your whiny little life?
Try manning up, homey.
By TW
November 19, 2008 7:09 PM | Link to this
DNC@6:46 - turns out you’re pretty much correct…almost. After much reading and a well placed phone call, all said and done it cost me $53 and change. Did you think I paid the five-hundred? Underestimate me, eh? I thought you rightwingers would be showing a little more humility after that nifty little spanking earlier this month…maybe ‘spanking’ is a bad choice of words…
Must you seek assistance for every little tiny issue that comes up in your whiny little life?
Why so angry, ‘homey?’ Thought us libs were the whiners? You’ve done nuthin’ but fill your diaper 24/7 since Nov. 4. Cheer up, son - go do some gay bashing, burn a cross, or whatever it is you rightwingers do when your not in an airport stall…
Don’t fret - the HNIC is on his wayyyyyy!!!
By AJC/DNC Management
November 19, 2008 7:16 PM | Link to this
By TW November 19, 2008 7:09 PM DNC@6:46 - turns out you’re pretty much correct…almost. After much reading and a well placed phone call, all said and done it cost me $53 and change.
Oh, so you made yourself seem hopeless so you could whine about it like a big, brave man would.
You’re in the right political party, that’s for sure.
By Dan
November 19, 2008 7:18 PM | Link to this
Sir:
You are a very foolish person. If the so called big three should fall then your job may also be in play.
By Dan
November 19, 2008 7:20 PM | Link to this
Sir:
You are a very foolish person. If the so called big three should fall then your job may also be in play. Romney, you must be joking.
By getalife
November 19, 2008 7:21 PM | Link to this
Not going to happen this lame duck session.
The trickle up socialism bailout was a horrible idea.
After what the banks and AIG did with our money, it is insane to do it again.
By Dan
November 19, 2008 7:21 PM | Link to this
Sir:
You are quite stupid.
By Dan
November 19, 2008 7:24 PM | Link to this
Sir:
You are quite stupid.
By Midori
November 19, 2008 7:29 PM | Link to this
who is Dan talking to?
By Republicans Killed America
November 19, 2008 7:29 PM | Link to this
I’d estimate that when these CEOs arrive at the hearings driving one of their company’s respective cars versus being flown there in their private jets, then they are getting serious. After listening to some of the testimony, I was left with the impression that they are lagging on the learning curve that some of the financial company CEOs are on. They each need to experience the “Oh Sh!t” phase first. Then we can talk and they’ll hear what we say. Bankruptcy is the appropriate course of action. Companies that us regular taxpayers work for would receive no better (with the exception of the financial companies and it better not ever happen again once it gets straightened out). In fact, the ripple effect that is still working its way through the construction and mortgage businesses is easily taking out millions of jobs so we are already living through that scare. I think taxpayers are only going to take so much and if they snap it won’t be a pretty sight. So, our elected ones had better give this matter the appropriate level of consideration and make sure they balance all of that lobbyist input with some taxpayer concerns as well.
By TW
November 19, 2008 7:29 PM | Link to this
Oh, so you made yourself seem hopeless so you could whine about it like a big, brave man would.
The illustration was meant as a descriptor of the auto company. Why so defensive about your manhood tonight? Like I said, it’ll all be OK. Settle down. We forgive you – ask Lieberman.
Yes, Mom and Dad are very ticked off that you wrecked the house with your party while we were out. But we love you and we’ll fix it :-)
By GAinTX
November 19, 2008 7:35 PM | Link to this
Are you liberals really this hopeless? Must you seek assistance for every little tiny issue that comes up in your whiny little life? Try manning up, homey.
And this is exactly why radical partisans are so…irrelevant.
This poster attempts to equate what he or she perceives as “proper” behavior with political association. The ability to fix one’s own car, in this case, somehow represents “proper” masculine behavior, which is then connected with conservatism. Never mind that consumers of every strip, from liberal to conservative, are often disgruntled with the costs associated with dealership repair. Never mind that MANY of those consumers, again, from liberal to conservative, lack the skills, AND the inclination to learn the skills, that would allow them to bypass the car repair industry . No…being dissatisfied with the costs of car repair equates to being a “whiny little” liberal, who is simply hopeless.
How sad some of us have become, that we are incapable of sharing those commonalities that make us human, that make us Western, that make us American, all because we are so terrified of being labeled “liberal” or “conservative”.
By RW-(the original)
November 19, 2008 7:42 PM | Link to this
Midori,
I think Dan is that person you see in aisle 1 so you decide to shop from the other direction.
TW,
Why would your beef with a mechanic make you change to a foreign manufacturer? I think getting called out on your sob story at 6:34 has you a little out of sorts. In through the nose and out through the mouth a few times deeply and you should be all better.
By JAY BOOKMAN
November 19, 2008 7:50 PM | Link to this
Alright folks, can we get back to the political and away from the personal, please?
By AJC/DNC Management
November 19, 2008 7:53 PM | Link to this
By GAinTX November 19, 2008 7:35 PM The ability to fix one’s own car, in this case, somehow represents “proper” masculine behavior, which is then connected with conservatism.
Well, actually, what I was trying to convey was that if you are not inclined to take care of life’s little problems yourself, for whatever reason, whining about the job that other people are doing for you seems rather, I don’t know, wormy.
Especially coming from a liberal that has placed their whole entire life, from cradle to grave, in care of the government.
I mean, what did you expect, that they would just do it for free?
You liberals are a trip, you whine and moan about the “unfairness of it all,” cast yourselves into the pit of federal despair, expecting an uncaring power hungry monolithic government full of hacks to carry you around like infants and you vote for the klown with shiniest of promises that they never keep.
And what do you got to show for it?
Social “Security?”
Geez, what a shame.
By Bud Wiser
November 19, 2008 7:53 PM | Link to this
Might I suggest that you people take the bill, quit whining, and throw in another $25 billion or so extra, because we all know that the true Democrat way is to throw as much money as you can at a problem, and that should fix it.
Tools.
By Suffering Cats
November 19, 2008 7:53 PM | Link to this
“Maybe I’m wrong, but I get the sense that he (Obama) too is willing to let the companies fail, knowing that once they do, he’ll have a lot more freedom in trying to put them back together in a way that makes sense”
Anyone remember who had the idea to create the Volkswagen?
This is our future folks and it starts with an American “People’s Car”
By Bud Wiser
November 19, 2008 7:58 PM | Link to this
nd Jay - Maybe I’m wrong, but I get the sense that he (I assume BO) too is willing to let the companies fail, knowing that once they do, he’ll have a lot more freedom in trying to put them back together in a way that makes sense.
And I suppose his community organizer experience will serve him well in this undertaking?
Jeez.
By Republicans Killed America
November 19, 2008 7:59 PM | Link to this
The bottom line is that GM builds crap and they need to go out of business. I’d take a Ford over a GM and that’s not saying much. With companies like Honda, Toyota, Nissan, Kia, etc., building cars right here in America, who needs Detroit. Let them shape up or go the way of the steel industry. The next order of business will be getting local governments sized to match our deflated economy. It’s time for our local politicians to show us what they are made of as well and I have a feeling that we will be disappointed in many of them just as we have been with politicians at the Fed level.
By TW
November 19, 2008 8:00 PM | Link to this
Sure thing, Jay. But I’m a little confused as to why the quality/service of a product is not a factor. Does, however, explain greatly certain people’s satisfaction with ‘w.’
At any rate, how comforting it is to see the likes of Dodd and Kucinich running the cross-exams of late.
Real checks and balances are back - our founders would be proud.
By GAinTX
November 19, 2008 8:06 PM | Link to this
Well, actually, what I was trying to convey was that if you are not inclined to take care of life’s little problems yourself, for whatever reason, whining about the job that other people are doing for you seems rather, I don’t know, wormy.
Yet again, this poster dichotomizes everything into simplicity.
Liberals “whine”, Conservatives “man up”.
So, we are again left to assume, based on this post, that only liberals are concerned about the costs of, in this case, car repair. The unvoiced assumption here is that conservatives would simply pay whatever was demanded, without concern.
Fascinating, and undeniably a factor in this poster’s character - he no doubt seeks to reinforce his own ideas of his personal masculinity by attacking the perceived masculine qualities of others. Unfortunately, it is not only simplistic but verifiably false. Given that MANY people, both liberal and conservative, routinely express concern about the costs of, not only car repair but of other services, leads one to conclude that the poster’s assertion is false.
Of course, given his basic assumption (that all liberals throw themselves on the federal government and don’t actually work for a living), one isn’t surprised that complex thought is beyond him.
By @@
November 19, 2008 8:08 PM | Link to this
Alright folks, can we get back to the political and away from the personal, please?
Uhmmm, jay?
Can I at least mention that I was able to repair the starter in my Subaru. I used The Chilton Manual.
O.K., I’m done now.
By Greg Mendel
November 19, 2008 8:10 PM | Link to this
“Made in Japan” used to be a cliche for shoddily made goods. Now it’s “Made in Detroit.” Let them fail. They’re good at it. Toyota will buy them, teach them to design cars people want, and make a profit — while producing extra jobs with reasonable pay (pay not as generous as current UAW scale).
At the same time, establish a single-payer health care coverage system. Jobs would be lost in the dysfunctional private insurance industry, but a single-payer system would bring down coverage costs for businesses large and small, creating additional job opportunities.
Crises present opportunities. Intelligent people grab them. Whiners fear change, and wait for Saint Sarah to feed them moose meat and feel-good claptrap.
By Paul
November 19, 2008 8:11 PM | Link to this
I’m amazed - both McCain and Romney - lots of candor and common sense until they thought they had a shot at Pres. I don’t know if Rep handlers are out of touch idiots but they sure know how to handicap their candidates.
The first paragraph is what should be presented to Congressional supporters. Have them refute the premise. Wishful thinking, I know.
Point on reduction of retiree pay, health care costs and current pay: even with a reduction it would still be in line with what many better-off citizens have. Reductions are tough. Eliminations are killers.
And to stray off topic a bit:
Hi getalife
Was in one of my favorite stores and saw a closeout display. Your favorite, 42 Below. I thought “?!@@?” Then looked at the bottles.
Kiwi.
Honey.
See, bad management decisions aren’t made only by Detroit executives.
Back on topic. Many excoriate Detroit management as if they were idiots. They built vehicles Americans wanted. Look at the sales. Look at the customers: “We had our second child so we need a Suburban or Expedition. SUVs are about the only vehicle I’ve seen where the owners tell you what they bought, then justify their decision.
Other point: care to guess the reaction of shareholders if the leadership had said “We know we can make gazillions selling trucks and SUVs, but we’re going to cut back and try to make it on sedans and invest lots more in R&D.” Hint: they wouldn’t have been labeled “visionaries.”
BTW - Chrysler co-Pres Press, formerly of Toyota, asserts the Japanese gov’t subsidized, if not outright paid the costs, of Prius development. Toyota denies it.
If their gov’t did: good for them. There’s a lesson there for us.
By TW
November 19, 2008 8:12 PM | Link to this
Surgeons replaced the damaged windpipe of Claudia Castillo, a 30-year-old mother of two, with one created from stem cells grown in a laboratory at Bristol University.
Thought this might cheer everyone up! And just wait ‘til President Barack Obama kicks the stem cell research into high gear!
Happy days are here again…
By ByteMe
November 19, 2008 8:16 PM | Link to this
As I wrote before:
Let the car companies go into bankruptcy and toss their labor contracts out the window and start over from a position of mutual weakness instead of mutual strength, like they’ve done before.
Have the US take over the underfunded pension plan, convert it to personal 401(k)’s that are fully funded according to the latest stats on how to do that conversion, and then contribute no more to that.
Instead of giving more money to the manufacturers, make it easier for them to sell greener cars to anyone by providing $3K tax credits for any auto that gets 2x the current city MPG standards or $6K for any car that gets 3x the current city standards. Have the credit expire in 10 years, because by then, all the manufacturers will be making enough of these cars that it will drive down the costs anyway.
By RW-(the original)
November 19, 2008 8:22 PM | Link to this
TW,
Castillo’s new wind pipe used her own stem cells from her own bone marrow.
By AJC/DNC Management
November 19, 2008 8:23 PM | Link to this
By GAinTX November 19, 2008 8:06 PM Fascinating, and undeniably a factor in this poster’s character - he no doubt seeks to reinforce his own ideas of his personal masculinity by attacking the perceived masculine qualities of others.
I think you mean feminine qualities, don’t you?
Given that MANY people, both liberal and conservative, routinely express concern about the costs of, not only car repair but of other services, leads one to conclude that the poster’s assertion is false.
If I might be allowed to speak for myself, instead of having my very own narrator, I’m pretty sure the bottom line of all this might be to stop whining and fix it yourself.
You can apply this to just about any situation.
By Republicans Killed America
November 19, 2008 8:27 PM | Link to this
They built the vehicles that America wanted. Well, if you are going to play to the whims of the public, then you had better be better prepared to change with the winds. After all, once gas shot up to over $4.00/gal and even got outright scarce in some places for a while, people all of a sudden wanted something that got good gas mileage and was cheap. Go figure. Now that gas prices are down, I’m sure there are some people looking at purchasing one of those cheap new trucks or SUVs. Then, gas prices will go back up again or something new will come along that people want. That’s the way capitalism works — you go with the flow and if you make the right calls, then you make money. Otherwise, you might just be looking for another angle to pursue. I guess we can always nationalize everything. Now wouldn’t that just give all the hard-core hands-off laissez faire Republicans something to whine about unless it’s something that they want to protect.
By TW
November 19, 2008 8:27 PM | Link to this
RW - yes. I’m aware of that - a true gift from God. And now that we have a real leader, there’s no telling how many people will be helped when the science is fully explored.
A bright star amidst the dark news of the economy - no doubt!
By TW
November 19, 2008 8:29 PM | Link to this
DNC - did you make your laptop?
By getalife
November 19, 2008 8:34 PM | Link to this
“The Bush economy in action:
The Dow, as Bush takes office: 10,587.59 The Dow, eight years later: 7,997.28
That’s GOP economics for ya’. You betcha’”
I wonder if he will be daddy at 3300.
I am guessing 3000.
By AJC/DNC Management
November 19, 2008 8:36 PM | Link to this
By Greg Mendel November 19, 2008 8:10 PM “Made in Japan” used to be a cliche for shoddily made goods. Now it’s “Made in Detroit.” Let them fail. They’re good at it. Toyota will buy them, teach them to design cars people want, and make a profit
1) GM sells more cars than any other auto maker in the world, bar none.
Not bad for a “shoddy” car maker.
2) There is absolutely no way that Oblahmi is going to allow hundreds of thousands of union jobs to go down the drain, not a chance that he will let union pensioners lose their monthly retirement check, he will not let the automakers cut off health care insurance to millions of people all across the country. The columnist^^ knows this full well and sees this as a safe opportunity to “disagree” with some one whose rear end he has planted a mailbox in.
One of the first acts of the Oblahmi administration will be the massive bailout of domestic automakers and kookman will be “disappointed” or “understanding of the situation” or whatever the propaganda ministry tells him to write.
By RW-(the original)
November 19, 2008 8:36 PM | Link to this
TW,
I’m sure you probably believed John Edwards when he said all one needed to do to cure all the sick the world over was to elect he and Kerry. It wasn’t true then and it isn’t true now. President Bush hasn’t outlawed any form of stem cell research and President Obama will need to work on growing money trees rather than organs to make good on his promises.
By Paul
November 19, 2008 8:38 PM | Link to this
TW
I believe there’s plenty of money and all viable avenues are being explored. But it’s not being done (in certain cases) with taxpayer dollars.
By Republicans Killed America
November 19, 2008 8:44 PM | Link to this
One might assign value to another’s assertion that someone else needs to stop whining and fix it yourself if said person were not the proverbial sheep who cried wolf about everything from the drilling for oil to global warming. Then again….Jay, when you instructed us to stop picking on other persons, did you include my choice of label in that remark or is it generic enough to pass scrutiny?
By TW
November 19, 2008 8:46 PM | Link to this
RW -
‘w’ restricted the research - President Obama will trumpet it. The gains will be fantastic!
Oh, and though they were her own…
Dr. Thomson also stressed that neither his nor the Japanese work could have been performed were it not for the knowledge gained over the past decade in human embryonic stem cell research — the very research that Mr. Bush has striven mightily to limit.
By @@
November 19, 2008 8:47 PM | Link to this
42 Below?
Kiwi?
Honey?
I hate cold weather.
I’m not terribly fond of kiwi ‘cause you have to gotta go through fuzzy to get to slimy. And those little black seeds? thppbt…thppbt…thppbt
I do take a tablespoonful of local honey first thing every morning.
By RW-(the original)
November 19, 2008 8:57 PM | Link to this
TW,
W did no such thing. The only limits were as they dealt with government funding for embryonic stem cell research. Private research funding could do whatever they wanted and if you’re going to say that placing any limit on government funding for anything is a restriction of it then you’ve just bankrupted every country on earth or you’ve declared them to be restricting anything anybody wants to claim could possibly be useful.
By skydog
November 19, 2008 9:01 PM | Link to this
Mitt`s dad was CEO of American Motors when it went under. He approved the Gremlin, Matador, and Pacer. Real bad ideas run in this family.
By cann
November 19, 2008 9:02 PM | Link to this
Will anyone, including Jay Bookman, on this board answer the following questions ?
What products do each of the 3 major companies (Ford,GM, Chrysler)have on the table to come on line in 2010 (one year from now) ?
Why are the 3 companies coming to Washington for a bridge loan ?
Why are they not going to banks for their capital needs?
Why are they not using cash flow from new auto sales ?
What is the average UAW worker’s hourly wage today ?
What will it be in 2010 ?
If you haven’t done sufficient research to answer these 6 questions, little wonder that all we can do here is scream at each other. This technology could be such a great platform for informed discussion, but sadly, rises just slightly above Jerry Springer’s attention to reason.
By TW
November 19, 2008 9:05 PM | Link to this
if you’re going to say that placing any limit on government funding for anything is a restriction
I stand corrected. I was not aware that ‘w’ had, indeed, funded embryonic stem cell research. I thought he’d restricted it, but now you say he ‘limited’ it. Got the numbers?
At any rate, greater things are on the horizon now that we have a leader who understands science and values all human life.
By Paul
November 19, 2008 9:07 PM | Link to this
@@
42 Below is a nice vodka from New Zealand.
Lemon makes a nice addition. Even chocolate.
But kiwi? Honey?
Thpbbbbt -
BTW - saw a movie once with Peter Fonda. Played a honey grower in Florida. Tupelo honey. Fonda held on to the idea people would pay for the higher quality of Tupelo. I tracked some down (now it’s available on the Internet).
It’s worth it.
By Algonquin J. Calhoun
November 19, 2008 9:08 PM | Link to this
The auto manufacturers, all of them, have colluded with the oil pushers to keep us dependent upon foreign oil. Don’t believe it? See a movie called, ‘Who killed the Electric Car.’ The answer is that all the manufacturers, including Toyota and Honda, colluded to kill it and they all made gas guzzlers to keep us stopping at QT and other purveyors of gasoline. The American auto makers need to get down in this trench with us if we are to bail their sorry asses out!
By Paul
November 19, 2008 9:13 PM | Link to this
TW
I do not know if RW is still here, so if I may, I do not believe the Bush Administration funded embryonic stem cell research. I believe they funded stem cell research, but not embryonic stem cell. They placed no restrictions on private (non Federal government) research funding.
By RW-(the original)
November 19, 2008 9:13 PM | Link to this
TW,
You could always try reading the federal budget and you would find there is, at least in theory, a limit on everything. I wouldn’t recommend it though, it’s quite boring. The limitations you’re thinking of were what lines of embryonic stem cells that could be used when federal funding was involved
Look, I’m happy for all of you that think that a President Obama will usher in the utopia you’ve longed for. I just hope you can handle the disappointment when you find out he’s mortal.
By @@
November 19, 2008 9:16 PM | Link to this
Hold on Paul, cann @ 9:02 made me all googlie:
Chrysler LLC charged up the electric car race Tuesday, muscling in on General Motors Corp.’s Chevrolet Volt by unveiling three electric-powered models and promising to put one of them on sale in the U.S. sometime in 2010.
The company showed reporters three prototypes: a Dodge sports car, a four-door Jeep Wrangler and a Chrysler minivan. Chrysler’s product development chief, Frank Klegon, said the automaker hasn’t decided which one it will roll out first.
The Dodge sports car is completely electric and based on Lotus Europa underpinnings, but the Wrangler and the Town & Country minivan will be extended-range vehicles similar to the Volt, which GM has said will go on sale in November 2010.
O.K., cann…..I’m going back for the rest. Will you accept the Volt from BM or are you looking for more?
This may take awhile. Do you mind if it comes piece mill?
Paul:
The honey must be local. I don’t live near Tupelo.
By getalife
November 19, 2008 9:20 PM | Link to this
Home grown organs?
Can I use hydroponic
I want to order a new heart.
By Paul
November 19, 2008 9:21 PM | Link to this
@@
Didn’t think you did. Publix stores sometimes has it. It’s seasonal, limited supply. But good.
Off for some noncomputer relaxation -
By @@
November 19, 2008 9:22 PM | Link to this
Alrighty, I’m back cann!
Ford has a “Fusion” and a “Milan” with a new hybrid system coming out in 2010.
Going back for GM 2010 surprises.
When I get through putting all this info together, we’ll talk.
Hold on buddy……..just hold on.
By RW-(the original)
November 19, 2008 9:22 PM | Link to this
Paul,
I’m pretty sure the Bush administration is the first to federally fund any embryonic stem cell research. So far I think embryonic stem cell research has yielded zero cures. Sometimes there’s a good reason why private funds go in other directions.
By War Eagle
November 19, 2008 9:26 PM | Link to this
Nice to read A SMATTERING balance from ajc, hope Cynthia does`nt FIRE you.
By Republicans Killed America
November 19, 2008 9:27 PM | Link to this
I have no doubt that Obama and all other humans are indeed mortal. It’s the George Bushes and their obvious belief that they are some form of immortal beings that can do no wrong that has concerned me for many years. I am looking forward to him [GWB] doing no more harm to we the people than what his own money will buy and good riddance. Maybe he and Cheney can sit around and grow old together while telling each other their war stories.
By @@
November 19, 2008 9:32 PM | Link to this
Looks like the Volt is it for GM, cann. There WAS an EV-1 that flopped. The Volt looks like a redo of the flop.
Cause they hand it out pretty freely?
Cause the banks aren’t freely lending yet?
Cause sales are down, and projected sales are iffy at best?
Yesterday, I read where it was $73…..$78?
Hopefully around $28….$35?
How ‘m I doing so far cann?
By @@
November 19, 2008 9:36 PM | Link to this
OH MY!
Will you accept the Volt from BM or are you looking for more?
Make that GM!!!!
Typo…..so sorry.
All that googlin’ made my eyes cross.
By bj
November 19, 2008 9:37 PM | Link to this
Sound like a familiar fairy tail. All the King’s horses and all the King’s men couldn’t put GM together again. But Obama can!
By Paul
November 19, 2008 9:41 PM | Link to this
RW
Thanks for the update. Good point about gov’t vs private research dollars. When your budget comes from Congress, with a life of one to n years, with jobs in a district, well, it can be a bit slow to change gears. Even if more promising avenues of research reveal themselves.
Gotta take the system down for a bit of maintenance.
Have a nice night -
By ByteMe
November 19, 2008 9:45 PM | Link to this
@@: BM sounded right to me, but what do I know?
Also, your answer about why they aren’t using cash flow from new sales really should have tied into your answer before that. The big reason that sales are down is that financing for car buyers is close to non-existent, leases are unavailable, and most people can’t afford to spring for a $30K car just now without some kind of financing.
BTW, that lack of financing for new cars also extends to the dealerships. Financing for them has also been cut off, so expect to see a bunch more dealerships fail, even if the car companies get the “bridge to nowhere” loans they want.
By @@
November 19, 2008 9:49 PM | Link to this
Paul:
I take the honey as a safeguard against allergies. The local bees carry local pollens. See how that works? (ISH)
I like honey just for it’s taste. I’ll look for the Tupelo at Publix but I can’t recall seeing it there.
By lanerlaw
November 19, 2008 9:54 PM | Link to this
The government can give them the debtor in possession (DIP) financing they need to make sure they emerge from bankruptcy. No money without a bankruptcy first.
By @@
November 19, 2008 9:59 PM | Link to this
‘Ya know ByteMe, I was watching the Big 3 pleading with Congress today…yesterday? can’t recall.
Anyway, one of the guys said that their future and freeing up lending were intertwined. That the two would need to coordinate.
I couldn’t help but think about all the home foreclosures.
So if they’re successful, we’ll see abandoned cars along the roadside with a sign posted…….REPO’D.
Don’t pay me any attention Byte. I’m just messin’ wit ‘choo and everyone. My fall break is almost here and I’m off to the south Florida beaches.
I’m just plumb giddy.
By RB from Gwinnett
November 19, 2008 10:00 PM | Link to this
TW and Andy,
I have a 2000 Tahoe and have also had problems with the windows. From internet searches, it’s a common problem. I went by the dealer on the way home from work, went to the service dept and started asking questions. Walked away with a “tip” from one of the mechanics. Hold the “down” button down on the window and slam the door. It frees up whatever is sticking in the regulator and the window works again. If that doesn’t work, it is the motor and is pretty simple to replace. Worked for mine and cost me $0.
Andy also brings up a point nobody seems to be talking about. Ford and GM make cars all over the world. Very large in Europe, Australia and others. I haven’t heard if we’re bailing out the whole global conglomerate or just the US part of it. And what are the financials in their other segments? Heavy trucks included. Would be a good question for Jay to look into with his stellar journalistic skills.
By "The Corporal"
November 19, 2008 10:04 PM | Link to this
Jay
If only you had felt this conservative before the election. We could have used you.
By The72John
November 19, 2008 10:33 PM | Link to this
I’m pretty sure the Bush administration is the first to federally fund any embryonic stem cell research. So far I think embryonic stem cell research has yielded zero cures. Sometimes there’s a good reason why private funds go in other directions.
This is very much like saying “I’m pretty sure that the Roosevelt Administration was the first to federally fund any nuclear research.
Substantive stem-cell research didn’t develop until Bush was in office, so previous administrations COULDN’T have funded them. To suggest that the Bush tactic of funding only a few, specific cell lines is indicative of some kind of sea-change federal support is, well…ignorant.
The Bush administration did everything it could to limit stem-cell research - and the canard of “there haven’t been any cures yet” is so logically unsupportable as to be ludicrous. MANY medical and scientific advances take YEARS to achieve - to dismiss an entire line of research simply because it hasn’t been served up, McDonald’s style, is intellectually dishonest.
The irrational religious fundamentalists who fuel the right wing today are behind the lack of funding for embryonic stem cell research. The same fools who believe that the incineration of unwanted embryos is preferable to the use of these same soon-to-be-destroyed-embryos for the betterment of all mankind are those who have hamstrung American development of this branch of Bio-tech, and handed it in a big, wrapped package to nations less constrained by illogical religious hysteria.
By RB from Gwinnett
November 19, 2008 10:57 PM | Link to this
By The72John
So where are the results from all these nations who aren’t hamstrung by the evil Bush administration? You act like the only way these cures can be discovered is if the US Government funds it in it’s own little US Government labs.
BTW, if US pharma companies think stem cell reasearch is the pancea you do, they do have the option of doing their research in any number of countries where Bush is not the president. Why aren’t they? And if they are, do they need to do it here too for some reason?
Face it. Your argument is against religious opinion affecting anything in this society and has nothing to do with whats really going on in the world. Get off your high horse and think for a few minutes. I promise you’ll feel better if you stop hating God for a bit and let him do some good in your life.
By Dr. R
November 19, 2008 11:03 PM | Link to this
Quite a good column and surprising, considering how Romney pandered to Michigan industries during the primary while McCain honestly told them that their old jobs weren’t coming back. Romney won the primary but voters in other states respected McCain’s honesty. If Mitt is as reasoned as Jay says he is, he sure came off as a big phony in the campaign, like the dad from a black and white 50s sitcom. Still, the GOP is a critter with no head right now so maybe he still has a future.
By "The Corporal"
November 19, 2008 11:16 PM | Link to this
We need this wisdom in the Office of Management and Budget!
When told the reason for daylight saving time the old Indian said, “Only a white man would believe that you could cut a foot off the top of a blanket and sew it to the bottom of a blanket and have a longer blanket.”
By "The Corporal"
November 19, 2008 11:35 PM | Link to this
Off Topic
The U.S. Navy says they won’t rescue pirated ships because they wouldn’t know what to do with the captured pirates. Uh …….. walking the plank would be good.
By The72John
November 19, 2008 11:48 PM | Link to this
Face it. Your argument is against religious opinion affecting anything in this society and has nothing to do with whats really going on in the world. Get off your high horse and think for a few minutes. I promise you’ll feel better if you stop hating God for a bit and let him do some good in your life.
Ah yes…because I oppose theocracy I must “hate God”. Sorry, but…no. And frankly, I find it laughable that you think you know what is “really going on in the world”. As we blog, other countries are working towards capturing a competive advantage in Bio-Tech research, while you rant about God.
Now, to deconstruct your post…
So where are the results from all these nations who aren’t hamstrung by the evil Bush administration? You act like the only way these cures can be discovered is if the US Government funds it in it’s own little US Government labs
First, I never said “evil Bush administration”. The need to accuse progressives of referring to the policies of the Bush Administration as “evil” is reflective of a simplistic need by irrational and uneducated right-wingers (please note that there are many EDUCATED right-wingers who do not rely on such simplistic constructions) to divide anything that opposes certain personal philosophies into right and wrong. The use of “good” and “evil” in the discussion of political and philosophical differences is useless and…frankly…childish.
Intelligent people are able to discuss differences in political position without resorting to grade-school labels.
As to results…as I mentioned before, the absence of absolute results should not ever be construed as the absence of possible results. Scientific exploration requires time - sometimes many, many years. That we haven’t cured Diabetes or Parkinson’s YET doesn’t mean that we won’t in the future.
*BTW, if US pharma companies think stem cell reasearch is the pancea you do, they do have the option of doing their research in any number of countries where Bush is not the president. Why aren’t they? And if they are, do they need to do it here too for some reason? *
The word you are looking for in “panacea”, and it means “that which will cure all ills”.
No one suggests that stem cell research, of any kind, represents a panacea. They do, however, suggest that many illnesses that have been previously incurable MIGHT be curable through the application of techniques learned through said research.
If using ONE embryo that would otherwise be incinerated results in a treatment that would save the lives of hundreds of thousands of people, some time down the road, then I am all for it.
Again, you - and other fundamentalist Luddites like you - refuse to answer the basic question. If there are thousands of available embryos that will be either destroyed or used to advance modern research, which path is more beneficial to society?
Don’t hurt yourself, now…I know that figuring out which bible verse to quote by rote can hurt religious nuts like yourself.
By Greg Mendel
November 20, 2008 12:06 AM | Link to this
*”1) GM sells more cars than any other auto maker in the world, bar none.
Not bad for a “shoddy” car maker.”* — AC/DC
Wrong. Toyota. Collectively, non-American auto manufacturers sell more cars than Detroit. You may have noticed them on the highway. The American highway.
By AJC/DNC Management
November 20, 2008 5:34 AM | Link to this
“This is not a recession that is going to be deep, but it is going to be long,” he said. “Job losses will intensify.”
Real estate, which was crucial to Atlanta’s expansion, has been badly battered. The fall in sales hurt homeowners and brokers, while the chill in new building has eliminated thousands of jobs.-Urinal
So let’s raise taxes!
By AJC/DNC Management
November 20, 2008 5:38 AM | Link to this
The California Supreme Court agreed Wednesday to hear three legal challenges to the state’s new ban on same-sex marriage but refused to allow gay couples to resume marrying before it rules. The lawsuits seek to nullify Proposition 8, a voter-approved constitutional amendment that overruled the court’s decision in May that legalized gay marriage. All three cases claim the measure abridges the civil rights of a vulnerable minority group, and they argue that voters alone did not have the authority to enact such a significant constitutional change.-Urinal
Can you say anarchy?
By ByteMe
November 20, 2008 5:47 AM | Link to this
@@: didn’t think you were messing with me at all and enjoy your break! My household gets one too, starting tomorrow.
And, yes, your vision of empty cars with REPO signs brings to mind “Mad Max”.
By AJC/DNC Management
November 20, 2008 5:50 AM | Link to this
Markets are a harbinger, a collective guess about the future of corporate profits and the larger economy. By that measure, yesterday’s stock market rout was another in a series of no-confidence votes in U.S. policies and economic growth.-Wall Street Journal
Apparently, they don’t like the future.
By G
November 20, 2008 7:35 AM | Link to this
Fine, Mitt. Get rid of the planes, the executive dining rooms — all the symbols that breed resentment…. AS A STIPULATION of a LOAN (it’s not a bailout). This is a $25 billion loan, not $350 billion that was just given away to the financial industry (and I don’t see the improvement yet).
Reorganizing under chapter 11 could mean harming the retirements and benefits of people who worked hard and taxed their bodies for 30 years or more. Not fair.
And the next time someone brings up the cost of hourly worker wages as compared to other countries, I’d like to hear about the cost of management wages and bonuses as comparison.
Loan the money, and take the opportunity to apply stipulations to it. Don’t let our country and people slide into bankruptcy as a result of your theoretical notions.
By themadtrader
November 20, 2008 8:26 AM | Link to this
By “obstinent” do you mean “obstinate”?
By Ben
November 20, 2008 8:29 AM | Link to this
I don’t think many people are saying this is only the workers’ fault. It’s management’s just as much, and they all need restructuring. As far as retiree benefits… It sucks that people will lose osme of that if the companies go under, but why does that mean I should pay for their retirement? They sure aren’t going to pay for mine. And loaning them $25 billion just gives them license to keep going down the same road. Bankruptcy and restructuring is their only hope in the long.
Business is NOT a jobs program. If a business is not viable, and by that I mean a profitable enterprise, then no one shold support it, much less the taxpayers.
By supporting a bad business, you raise the barriers to entry for any new businesses that might want to enter that industry, and thus you prevent new jobs from arising to save old jobs that are no longer viable moneymakers. I know a lot of people that would love to work at non-union wages on an auto line, but those jobs won’t be available because we’re supposed to send our tax dollars to failed businesses instead.
And where do you people think this money comes from anyway? We can only stretch the country’s pocketbook so far, but you keep coming up with more and more things we should spend money on. We can’t keep raising taxes, or the rich really will flee, and I won’t blame them. They aren’t supposed to be slaves to D.C. and Detroit.
By Grampus
November 20, 2008 8:33 AM | Link to this
Lighten up, G. Look at the airline industry. Everyone was writing it off a few years back and saying the same things about management, the business model, and the poor suffering workers (of which I am one). Look at it now, in particular the Delta and Northwest success. Why can’t the auto industry do the same? What Romney is saying is that anything short of a well managed bankruptcy and restructuring will only prolong the inevitable – total collapse and then everyone loses their jobs. Notice that he says new management should a requirement. This thing is a mess and everyone – management, UAW, and the politicians – is to blame. Folks will get hurt in a bankruptcy, but not as many as will if the Big Three go under. The unfortunate thing is that the politicians who help foster the situation keep getting reelected and are now trying to be part of the solution. People will get hurt, but our fine public servants will live on to ruin our lives in other ways. That is our fault
By pay me
November 20, 2008 8:41 AM | Link to this
the jobless rate is the worst it’s been since ‘92. you know the last time Republicans left this place in shambles. it’s just so sad to see so many ordinary Americans still sticking up for these people that are constantly allowing already rich people to be on entitlement programs. like Wall Street and the car industry and the airline industry and the oil industry. this stuff is hurting our country and everybody can see who’s doing it and I’ll give ya a little clue. it ain’t the boogeyman so many call a liberal. Mitt any of kids in the military yet? oh yeah that’s right, the fighting and dying is only for the poor and the middle class.
By Curious Observer
November 20, 2008 8:41 AM | Link to this
Anti-union and anti-management sentiment seems to be ruling opinions here.
Just let even one of the Big Three file for bankruptcy and you’ll see a chain reaction of job losses—from suppliers right down to dealers and repair shops. The bankruptcy of even one automaker will cost the loss of a million jobs. For example, suppliers service more than one of the Big Three, and they won’t be able to withstand the loss of business.
And the union contracts? Well, labor accounts for about 8% of the cost of building a car. Do you really think that transferring the cost of retiree benefits and pensions to the federal government will result in savings or reduce the price of cars significantly?
And those private jets—ah, yes. Those corporation heads have serious enemies (See “Roger and Me.”) It’s not as though they can safely board a commercial aircraft. They don’t have the Secret Service protection of government executives.
So go ahead and cut off your nose to spite your face. Plunge us into a depression by allowing the Big Three to fail. You won’t get what you think you’re asking for, and you certainly won’t like what you get.
By baseballdoc
November 20, 2008 8:41 AM | Link to this
The current auto crisis discussion reminds me of an example used in the movie “Other People’s Money” when the Danny DeVito character was trying to take over a business headed toward becoming obsolete. He said that once there were several companies making buggy whips (you know, for the horse and buggy). Finally, only one buggy whip company was left in business, and even though that company manufactured a great buggy whip, people no longer needed buggy whips.
Either the Big 3 companies retool and manufacture the generation of transportation, or they will be remembered as the ‘last buggy whip company’
By PinkoNeoConLibertarian
November 20, 2008 8:49 AM | Link to this
ByteMe @ 5:47
The honey will really help come yellow sky season. :)
Regarding Mad Max…man was that intercept car something else?! Not sure what the gas mileage was on that though. Most likely it also required high octane as well. :)
By Shawny
November 20, 2008 9:05 AM | Link to this
Good to see you are with the republicans and not the democrats, Jay.
By Harry S.
November 20, 2008 9:24 AM | Link to this
Everyone, including Jay, is willing to trash the Big 3 automakers in order to BUST THEIR UNIONS!
No problem if a Wall Street stockbroker makes 600K a year, we give them a bailout and let them keep their million dollar bonus checks! But let a riveter working on the assembly line 60 hours a week make a decent salary (70K); then all hell breaks lose!
What about the MANAGEMENT decision to keep building gas guzzling SUV’s and hemi powered quad-cab pickups when the Japanese had already switched to hybrids???
The Big 3 automakers were not selling cars because the public got smarter, but the CEO’s trusted their marketing experts. Also, in Japan, they have universal health care, not an employer furnished plan, concocted by some corporate rip-off insurance company!
All you so called conservatives and blue dog democrats blame the person actually doing the WORK! Are you that jealous of the union worker who stood up his job? Are you powerless at your own job to control your pay and environment? Blame the big guy in charge, not the factory worker actually doing the work! You people make me sick!
By JustWait
November 20, 2008 9:29 AM | Link to this
“He’s a sly one, that guy.”. What…the halo is beginning to tarnish….
Curious - what role does the UAW and related unions play in the current automaker situation, e.g., what percent of each auto sold goes to union concessions vs other economic-viable automakers in the world? Are unions part of the problem??
By Paul
November 20, 2008 9:36 AM | Link to this
Harry S
Companies can pay workers as much as they want. But when people stop buying their products and the companies (management and workers) look at the rest of their citizens, many making far less with little benefits, and says “send us money so we don’t have to change” - well, that’s a different story.
Rep Barney Frank was on CBS’s morning show and was asked about this. His response was that there is too much “income inequality” and we should leave the car unions alone. Uh, Barney, that ‘income inequality’ is because UAW workers, retirees and families make a heckuva lot more than other workers. At the time, good for them. But when Barney wants the rest of the country - not car customers, but everyone - pay to support that - including paying laid-off workers nearly their full salaries, guaranteeing full pensions when other workers have lost theirs, fighting any medical deductible changes when other workers don’t have health insurance - that’s not a way to garner sympathy and encourage people to hand over money.
By Wyld Byll Hyltnyr
November 20, 2008 9:54 AM | Link to this
Jay, once more gotta disagree about BOPEOTUS.
You write, “Barack Obama….He’s a sly one, that guy. The president elect has come out publicly in favor of a bailout in return for concessions, as he had to do given his labor backing and campaign rhetoric. But he doesn’t seem to be pushing hard for the immediate action that GM, Ford and Chrysler claim is needed.
In reality, here are your choices: a) less than three weeks after the election BOPEOTUS, goes back on a campaign promise that was critical to his victory (can we all chant, “Barack lied; peoples jobs got fried”); or, and I believe this to be the case, BOPEOTUS doesn’t have the stones to make the call, he’s just hoping it all blows over before the inauguration so he can’t be held accountable. BOPEOTUS will soon find out that campaigning by tearing down and belittling the “man in the ring” was a lot easier than being the “man in the ring” with everyone’s eyes on you. When PEOTUS becomes POTUS, he won’t be able to tell the people of Scranton that they are the backbone of the country and turn around and tell the SF homos that the people in Scranton are bitter and cling to the bible, guns, and antipath towar others. The day is coming when PEOTUS will have to make one decision and its looking more and more as if he does not have the stones to do it.
By ddawn
November 20, 2008 9:56 AM | Link to this
Agree wholeheartedly with your comments. (But “obstinent” should be “obstinate”.)
By Blue
November 20, 2008 10:23 AM | Link to this
The automakers don’t have a clue.
I think a 40% cut in UPPER MANAGEMENT SALARIES and elimination of all SENIOR AND UPPER LEVEL bonuses and perks would do more for the automakers than a free hand(bail)out. It would save jobs, save companies, and possibly revive the entire industry. Sure would look like a good faith effort if these UPPER MANAGEMENT folks stepped up, made some sacrifices, saved the industry, and came out as heroes! Perhaps too simplistic, but it could happen ……
By reasonable
November 20, 2008 10:45 AM | Link to this
A little perspective is called for here. First, the president-elect is not going to get mired in actions, positions, and policies over which he has no control during the transition and which can only end up tying his hands after January 20th. His sole job now is to build his team and administration so he can hit the ground running on January 20th. For better or worse, Bush is President until then. Before everyone starts jumpimg on Obama, please realize that he is merely doing what every previous president-elect including FDR and Lincoln did, not try to run things before he has the power and not get bogged down in the policies and prescriptions of a failed past. He wants January 20th to be a clean break, not a continuation of the past administration. Second, while restructuring of the auto industry is urgently needed and new work rules are required, let us remember that eliminating health care and retirement benefits negotiated with the company by the UAW as will likely occur in any managed bankruptcy (if you can avoid dissolution in Chapter 7)merely shift the burden for those two areas to the taxpayer, either directly through Federal assumption of a significant percentage of pension obligations or indirectly through loss of health care benefits and rises in the number of uninsureds, many with preexisting conditions. Any efforts in this area have to strongly consider these issues, soemthing I am not convinced Romney is in the slighest concerned about. Third, widespread unemployment including the inevitable ripple effect from suppliers could send the economy from deep recession to depression. On this point, I defer to the recent winner of the Nobel prize for economics, Paul Krugman, in normal times let them fail, now, we have to hold our noses and pitch in to prevent a worse catastrophe. Fourth, I really do not think that the Presaident-elect wants to get involved in the actual reconstruction of the auto industry as you imply. He has to stay focused on the macro level economy and the return of fiscal policy as a respectable part of economics after nearly a generation of monetarism as the dominant view.
By SaveOurRepublic
November 20, 2008 10:47 AM | Link to this
No more taxpayer funded bailouts & Corporate Welfare…period! The Big 3 deserve some of this downfall for their continous outsourcing of American jobs. My Grandad worked 30+ years for Ford & he’d be turning over in his grave to see the mass shipment of jobs beyond our borders. NAFTA, CAFTA, GATT, WTO etc. have decimated the U.S. manufacturing base & our middle class!
By bridget
November 20, 2008 11:23 AM | Link to this
I agree with Mitt Romney 100% that we should not bailout the suto industry until all those companies change their management. These CEO’s are greedy and get paid to much money. That’s the problem with this whole country corporate greed. The Americans should learn from the Japanese that you do it for the company not the money. I was against the $700 billion bailout and did it work or get far to help the main street people? NO! all you hear is AIG enjoying themselves on nice trips. That’s tax payers money wasted for their pleasure. This country will never get off the ground if this government does not cut back on spending and regulate these businesses. SHAME ON AMERICA!!!!
By itpdude
November 20, 2008 11:36 AM | Link to this
It’s sad, but true: The Big 3 need to fail in order to succeed. Will there be pain? Yes. Will there be ripples throughout the economy? Yes. But we needed to let these ripples be felt now instead of waiting for waves of pain later after putting the piece of gum in the shoddy dam.
Remember, foreign auto manufacturers have set up shop here in the US, with US labor, US parts makers, US labor based support systems and they’ve done better than the US auto manufacturers in terms of price and quality. How is that? Why is that? I think it’s because Detroit got bloated, management and labor (particularly the labor leaders). The bloat can be cured with bankruptcy.
By AlphaDog
November 20, 2008 11:44 AM | Link to this
Where in the Constituion does it say the President has a say in how a company gets “put back together”
By Wyld Byll Hyltnyr
November 20, 2008 11:46 AM | Link to this
Dear reasonable - nice rationalization. First “the president-elect is not going to get mired in actions, positions, and policies over which he has no control during the transition” as PEOTUS requested POTUS to conduct help the automakers during their visit and he said he wants to change don’t axes/don’t tell, but not by executive order. Were it just on these one count, perhaps your rationalization would pass the sniff test, but this guy has never made a decision in his life other than, unfortunately, to run for president. I fear that the liberal price is no leader, but rather than equal parts Othello and Hamlet, “To be or not to be, that is the question.” and, while he can axes the questions and ponder the options with the best of ‘em, he just ain’t go the stones to act. Obama - fo’ mo’ years of indecision 9following two years of the do nothing Dem Congress.)
By jstrick
November 20, 2008 12:06 PM | Link to this
Maybe I’m wrong, but I get the sense that he too is willing to let the companies fail, knowing that once they do, he’ll have a lot more freedom in trying to put them back together in a way that makes sense.
Can you let us know where you get this “sense” that Obama is trying to do this. It seems possible that he knows that it is not possible to pass this legislation during the lame-duck session as Dodd has said. I haven’t seen anything “sly” about his rhetoric at all regarding the bailout. He has come out for it, what else would you like him to do.
Also can you let us know if you think, if following Mitt’s plans, there will be significant job losses and what will happen to retirees benefits?
By swolf
November 20, 2008 12:30 PM | Link to this
Let the “Big 3” declare bankruptcy and then DISCUSS helping them out AFTER they show some iron-clad plans for restructuring, retooling, and re-thinking their business plans.
By brighteyes
November 20, 2008 1:21 PM | Link to this
Jay are you talking about the good job that Mitt Romney dad did at American Motors? Where are they now Jay? Ford purchased four auto manufacture company (Jaguar, Volvo, Austin Martin and Land Rover) in the last 15 years and sold three of them leaving only Volvo, that was done with profits that they made with the UAW labor. We, the UAW worker pay taxes too, but if we don’t have a job who will pay them? when we or our family member get sick, who will pay for our health care? where will the unemployment come? social security or pension? The auto companies have build plant in every country from the profits that made with the american auto worker and their benefits. The new media say that we make $75.00 an hour, which is untrue, I made $17.00 an hour. It amazing that people don’t want us to have health care and a retirement pay. Import auto companies don’t pay their workers health care and pension, but when they or their family get sick, who pay for it? We do,our tax money. When they cann’t work anymore who pay? We do, our tax money. The USA is becoming a consuming country, we are producing less and less, our factories are closing and going over sea leaving our worker with out jobs. Just a few years ago, people was saying buy america, so our prople will have a job, AMAZING!!!!!
By brighteyes
November 20, 2008 1:25 PM | Link to this
Jay are you talking about the good job that Mitt Romney dad did at American Motors? Where are they now Jay? Ford purchased four auto manufacture company (Jaguar, Volvo, Austin Martin and Land Rover) in the last 15 years and sold three of them leaving only Volvo, that was done with profits that they made with the UAW labor. We, the UAW worker pay taxes too, but if we don’t have a job who will pay them? when we or our family member get sick, who will pay for our health care? where will the unemployment come? social security or pension? The auto companies have build plant in every country from the profits that made with the american auto worker and their benefits. The new media say that we make $75.00 an hour, which is untrue, I made $17.00 an hour. It amazing that people don’t want us to have health care and a retirement pay. Import auto companies don’t pay their workers health care and pension, but when they or their family get sick, who pay for it? We do,our tax money. When they cann’t work anymore who pay? We do, our tax money. The USA is becoming a consuming country, we are producing less and less, our factories are closing and going over sea leaving our worker with out jobs. Just a few years ago, people was saying buy america, so our prople will have a job, AMAZING!!!!!
By D. McLaughlin
November 20, 2008 2:11 PM | Link to this
Detroit earned its lumps, bumps, and bruises. The UAW priced itself out of the labor market and watched jobs go to Mexico and other places. The upper crust kept taking bonuses regardless of the bottom line. Designers and planners were to myopic to see trouble coming when gas topped $2.00 per gallon. GM is yelling for help and building a plant in Russia. Ford wants help and is assembling cars in Mexico. The UAW worker is making over $70 per hour with benefits and yet yells for more, more, more! If we bail out these failures, who is next, Starbuck’s? We’re a consumer nation and we’ll be buying Japanes, Korean, and probably Chinese cars. Maybe this will create a new class of illegal immigrants — UAW workers sneaking into Korea and Mexico to make cars!
By Shawny
November 20, 2008 2:31 PM | Link to this
brighteyes’ opinion is exactly the mentality that is doomed to fail. It is why idiots like Barney Frank are so wrong. It is that workers are owed something and corporations should be in business to support the workers, not to produce goods and services at a profit. It is also that wages should be high. Wages should be fair, not necessarily high.
Bill O sums it up and references both Romney and Frank. Nice to see Jay B and Bill O and Mitt R all agree. Welcome to the republican party, Jay. Now if you could only think this way more often. Entitlement, FDR mentality, etc. will bankrupt all of us eventually.
Excerpt from piece: “REP. BARNEY FRANK, D-MASS.: There was also an assumption that if you did bankruptcy, you can undo labor contracts. Now the unions, to their credit, have negotiated some concessions, but you know, we already have too much union busting and too much income inequality for the average worker in this country for us to now say by the way if you’re a company and you haven’t been able to totally get rid of the unions, then go bankrupt and rewrite and write down the contracts.”
Bill O goes on to highlight: “Now the key words there are income inequality. Once again, Frank says the feds should guarantee wages and benefits. That’s not capitalism, congressman. Take a course.”
nice, and accurate. A company paying $70/hr can not compete against one paying $40/hr in combined wages and benefits. Period.
By barbara roulhac
November 24, 2008 1:11 PM | Link to this
I own a fordf150 o5 im a consumer and i have been trying to get my ford fix .my truck for almost six month and all they have done was give me the run around. but now they need help how about the consumer that is driving your truck that is safety hazerd.
By barbara roulhac
November 24, 2008 1:12 PM | Link to this
I own a fordf150 o5 im a consumer and i have been trying to get my ford fix .my truck for almost six month and all they have done was give me the run around. but now they need help how about the consumer that is driving your truck that is safety hazerd.
By Neelia
December 4, 2008 9:23 AM | Link to this
I want a bailout…and all I’m asking is $50,000 but do you think government’s going to just give it to me…how about anyone else…anyone want to give me $50,000? I’m not asking for billions and billions just a few thousands. And I’m sure that there are millions of American’s that could use a bailout as well…those flood and fire victims of Iowa, California, Arizona, Nevada, Tennessee, and Louisana. Where’s their bailout? I think it’s all a bunch of crap and those who mismanage their money should fall flat on their faces. Those who are paying off student loans, trying to get ahead in life, building a real solid future or even rebuilding should get help before the big money hungry corporate beggars! They’d not needed it until there was a bailout of another corporation now it’s just a big game of copy cat corporate begging.