Bye bye US auto industry...... - New England Patriots Forums

***NEPatriot*** · 11-12-2008, 01:27 PM

KSLA News 12 Shreveport, Louisiana |Treasury Sec. says auto industry not a part of $700 billion bail out plan

Quote:

Treasury Secretary Henry Paulson called autos a "critical industry" Wednesday but said a $700 billion financial rescue program wasn't designed for them

It looks like we are going to need TRILION DOLLARS to FIX this ECONOMY.

Wildo7 · 11-12-2008, 01:30 PM

It seems like Obama's first mistake is going to be bailing these people out, which it looks like he's hell bent on doing. That's a shame since they clearly can't be competitive on their own and make clearly inferior cars (on the whole).

***Born_a_Patriot*** · 11-12-2008, 01:33 PM

Quote:

Originally Posted by Wildo7

It seems like Obama's first mistake is going to be bailing these people out, which it looks like he's hell bent on doing. That's a shame since they clearly can't be competitive on their own and make clearly inferior cars (on the whole).

I agree. I believe that even if the economy was fine they would be on the brink of collapse. Now they are just taking advantage of their ineptness.

***patsfan13*** · 11-12-2008, 01:34 PM

The dems need to pay off the unions, they contributed 400M to BO's election. So the automakers with their crazy union contracts ae gonna get the $$$ This is just as bad as the bailout for the banks.

PatriotsReign · 11-12-2008, 01:35 PM

Quote:

Originally Posted by Wildo7

It seems like Obama's first mistake is going to be bailing these people out, which it looks like he's hell bent on doing. That's a shame since they clearly can't be competitive on their own and make clearly inferior cars (on the whole).

Sadly, that's Obama's home region. I'm not saying he should bail them out, I'm just talking political reality.

My thought would be to combine all 3 US auto makers into one and make it super competitive. The reality is, 3 is too many and they will not survive.

***BelichickFan*** · 11-12-2008, 01:37 PM

Quote:

Originally Posted by patsfan13

The dems need to pay off the unions, they contributed 400M to BO's election. So the automakers with their crazy union contracts ae gonna get the $$$ This is just as bad as the bailout for the banks.

Yeah, it's the unions. I saw a stat last night that the average worker at GM costs (doesn't take home) the company $73 an hour. That compared to Toyota at about $40 an hour.

I'm no businessman but . . . duh.

PatriotsReign · 11-12-2008, 01:40 PM

Quote:

Originally Posted by BelichickFan

Yeah, it's the unions. I saw a stat last night that the average worker at GM costs (doesn't take home) the company $73 an hour. That compared to Toyota at about $40 an hour.

I'm no businessman but . . . duh.

Maybe they should just pay workers $45/hr with no bennies, but I despise anytime an American has to take a pay cut while companies continue to prosper.

***BelichickFan*** · 11-12-2008, 01:43 PM

Quote:

Originally Posted by PatriotsReign

Maybe they should just pay workers $45/hr with no bennies

The $73 was the total cost of doing business, I believe, which includes the massive retirement and retiree health care costs. It's just a failed business plan. I would be OK with bailing them out if they would then be self sufficient but that's not the case.

***Born_a_Patriot*** · 11-12-2008, 01:43 PM

Quote:

Originally Posted by PatriotsReign

Sadly, that's Obama's home region. I'm not saying he should bail them out, I'm just talking political reality.

My thought would be to combine all 3 US auto makers into one and make it super competitive. The reality is, 3 is too many and they will not survive.

I have thought the same thing. There are way too many auto makers in the world. And our 3 are pathetic.

PatriotsReign · 11-12-2008, 01:46 PM

Quote:

Originally Posted by BelichickFan

The $73 was the total cost of doing business, I believe, which includes the massive retirement and retiree health care costs. It's just a failed business plan. I would be OK with bailing them out if they would then be self sufficient but that's not the case.

That's what I figured, so $45/hr would be a huge savings for the industry. Even if they paid $50/hr or $100K/yr...then just tell everyone they're on their own for health insurance and retirement. After all, they are auto assemblers, not lawyers. One should not expect to become well off as a laborer.