Bail Out or Bonuses In

[Michiko_Dreads]

Chrysler gives out 30 million dollars in bonuses to executives but still wants a bail out.

My question is where did they 30 million dollars to pay executives and why not put the

30 million back into Chrysler?

[Msterbeau]

Chrysler gives out 30 million dollars in bonuses to executives but still wants a bail out.

My question is where did they 30 million dollars to pay executives and why not put the

30 million back into Chrysler?

Absolutely. They run the companies into the ground and expect a bonus for that? Toss those (undeserving) greedy assholes into the ocean.

[Onyx]

This article has some interesting points. Actually the comments below the article are what I found most intriguing.

Why we shouldn't bail out Detroit

[Reaper]

Personally I think the bailout shouldn't happen. The money is mostly going to go straight to the union to pay for their fat payscales. I think the advice of the critics is best; to let them file bankruptsy and have them totally reorganize. They have already been laying everyone off, so do it all in one big swoop instead of bloodletting. Business will go on as usual as it did for the airline industry when they had their bankruptsy. Automakers got themselves into this, let them dig their way out.

[Rev.Reverence]

Personally I think the bailout shouldn't happen. The money is mostly going to go straight to the union to pay for their fat payscales. I think the advice of the critics is best; to let them file bankruptsy and have them totally reorganize. They have already been laying everyone off, so do it all in one big swoop instead of bloodletting. Business will go on as usual as it did for the airline industry when they had their bankruptsy. Automakers got themselves into this, let them dig their way out.

Well said.

[Hellion]

Remember Delphi and all the bonuses that those cocksucking CEO's got when they went bankrupt.

[Onyx]

Big 3 seem to be Beg 3

US House committee holds hearing

Last Edited: Wednesday, 19 Nov 2008, 3:23 PM EST

The CEOs of General Motors, Ford and Chrysler are pressing their case for the bailout before the House Financial Services Committee, a day after sometimes confrontational testimony before a Senate panel.

Committee Chairman Barney Frank, a Massachusetts Democrat, suggested the existence of a congressional bias in agreeing to help white-collar bankers but not blue-collar auto workers. But Alabama Rep. Spencer Bachus, an Alabama Republican, said the bailout would only "push the problem further down the path."

Congressman Fred Upton, co-chair of the Congressional Auto Caucus and Congressman Pete Hoekstra testified in front of the House Committee on Financial Services on this issue Wednesday morning.

The CEOs of the Big Three U.S. auto companies are being told they'd make a better case for a government bailout if they'd stop flying around in private jets.

During a House hearing this morning where the three CEOs appealed again for a $25 billion government rescue plan, California Democrat Brad Sherman asked them to raise their hands if they had

come to Washington on commercial airliners. No hands went up.

He then asked if any of them had plans to sell their corporate jets. Again, no hands went up.

Sherman and New York Democrat Gary Ackerman told the executives they're having trouble justifying a bailout for companies whose chiefs fly around in expensive private jets.

Ackerman said there was "a delicious irony in seeing private jets flying into Washington D.C. and people coming off them with tin cups in their hands."

more...

http://www.woodtv.com/dpp/news/Big_Three_s...to_be_Beg_Three

[creatureofthenyte]

Chrysler gives out 30 million dollars in bonuses to executives but still wants a bail out.

My question is where did they 30 million dollars to pay executives and why not put the

30 million back into Chrysler?

Why don't they invest it back into the company ?

Because, doing that, would make sense.

And corporate America is not interested in making sense; they are interested in making Dollars.

[Reaper]

Big 3 seem to be Beg 3

US House committee holds hearing

Last Edited: Wednesday, 19 Nov 2008, 3:23 PM EST

The CEOs of General Motors, Ford and Chrysler are pressing their case for the bailout before the House Financial Services Committee, a day after sometimes confrontational testimony before a Senate panel.

Committee Chairman Barney Frank, a Massachusetts Democrat, suggested the existence of a congressional bias in agreeing to help white-collar bankers but not blue-collar auto workers. But Alabama Rep. Spencer Bachus, an Alabama Republican, said the bailout would only "push the problem further down the path."

Congressman Fred Upton, co-chair of the Congressional Auto Caucus and Congressman Pete Hoekstra testified in front of the House Committee on Financial Services on this issue Wednesday morning.

The CEOs of the Big Three U.S. auto companies are being told they'd make a better case for a government bailout if they'd stop flying around in private jets.

During a House hearing this morning where the three CEOs appealed again for a $25 billion government rescue plan, California Democrat Brad Sherman asked them to raise their hands if they had

come to Washington on commercial airliners. No hands went up.

He then asked if any of them had plans to sell their corporate jets. Again, no hands went up.

Sherman and New York Democrat Gary Ackerman told the executives they're having trouble justifying a bailout for companies whose chiefs fly around in expensive private jets.

Ackerman said there was "a delicious irony in seeing private jets flying into Washington D.C. and people coming off them with tin cups in their hands."

more...

http://www.woodtv.com/dpp/news/Big_Three_s...to_be_Beg_Three

I laughed and internally cheered when I listened to this live on CNBC on Sirius. It was about fucking time that someone called them out on their money grubbin. It was like envisioning a man arriving in a Ferrari with a tin cup in his hand. I wish they had confronted Gettelfinger about the union's side of the bargaining to help though.

[Gaf The Horse With Tears]

I don't think people are really aware of just how bad the Big 3 going down would be.

[Destroit]

I don't think people are really aware of just how bad the Big 3 going down would be.

Is that, and once again, correct me if I'm off (I've been a little off lately in general), the reason Flint is so fucked up? I think I watched a Michael Moore documentary on that before he was 100% retarded. About how basically the city turned ghetto almost overnight because one of, I think it was GM's, huge factories downsized and outsourced out of country leaving almost everyone in Flint unemployed and collapsing their economy.

[Reaper]

I don't think people are really aware of just how bad the Big 3 going down would be.

I don't think they will go down. They put up a lot of threats about it, but I don't think anyone is going to allow them to just pack up and go out of business. I think the foreign automakers kind of rely on them to stay in business. I think the face of america would change too much if that were to happen.

[Gaf The Horse With Tears]

Is that, and once again, correct me if I'm off (I've been a little off lately in general), the reason Flint is so fucked up? I think I watched a Michael Moore documentary on that before he was 100% retarded. About how basically the city turned ghetto almost overnight because one of, I think it was GM's, huge factories downsized and outsourced out of country leaving almost everyone in Flint unemployed and collapsing their economy.

Thats fairly correct. I remember watching flint go down the tubes on the news as a child.

Now, Just think of it this way... the Big 3 employ about 1 million people... each of those are supported by 5 workers in non Big 3 factorys who will also loose thier jobs... and each of them supports 10 other jobs at gas stations, roach wagons, grocery stores and other non-auto jobs.

If the Big 3 goes down... the economic collapse that will happen will make the Great Depression seem like a minor problem.