Romney say's"let Detroit go Bankrupt"

[Hellion]

Sounds like he wants to see unemployment and crime flourish as well.

http://www.clickondetroit.com/automotive/1...et&psp=news

[jynxxxedangel]

How stupid. Cutting his nose off to spite his face. And to think-- I actually liked this guy when he was campaigning.

Politicians obviously need their ventriloquists (speech writers), in order to function properly. Written speech=GOOD. Candid speech=EPIC FAIL.

[Brenda Starrr]

Fucking asshole....

[TitsMcGee]

What an idiot.

[Rev.Reverence]

Can someone explain this to me?

[Simon Bar Sinister]

Romney's point is that, once under bankruptcy protection (depending on which chapter of the code they'd fall under), the automakers could reorganize their finances (spin off or sell various divisions) and contracts.

Whether one agrees with him is another matter.

[Destroit]

Romney's point is that, once under bankruptcy protection (depending on which chapter of the code they'd fall under), the automakers could reorganize their finances (spin off or sell various divisions) and contracts.

Whether one agrees with him is another matter.

So long as the government doesn't step in and help them in any way finacially what-so-ever, it sounds good to me. They need to be punished and learn their mistake...not be bailed out. Everyone from the CEOs down to the shareholders that turned the other cheek and the workers that didn't give two shits so long as they got a paycheck.

[Simon Bar Sinister]

...and if the "punishment" puts 2-3.5 million people out of work in a matter of weeks?

I love how everyone berates the auto companies for not making fuel-efficient cars...yet up until about a year ago, the big gas guzzlers were flying off the lots as fast as they could be made and delivered to the dealerships. People talk about Honda and Toyota's fuel effiencicy...all the while overlooking the fact that each of them introduced their own 15-mpg SUVs and full-size pickup trucks to cash in on the American consumer's demand.

[Gaf The Horse With Tears]

What he is saying makes sense. A good portion of Congress agree with him. Democratic party leaders are among them. A good portion of the Big 3's employees think it's the way to go.

An economic bail out is not the only way to save the Big 3. It's just what the cooperate execs prefer. Bankruptcy and a restructure is how most company's have saved themselves over the last few hundreds years.

I am really shocked that so many of you are siding with the fat cats in charge of GM, Dodge and Ford.

[Gaf The Horse With Tears]

...and if the "punishment" puts 2-3.5 million people out of work in a matter of weeks?

I love how everyone berates the auto companies for not making fuel-efficient cars...yet up until about a year ago, the big gas guzzlers were flying off the lots as fast as they could be made and delivered to the dealerships. People talk about Honda and Toyota's fuel effiencicy...all the while overlooking the fact that each of them introduced their own 15-mpg SUVs and full-size pickup trucks to cash in on the American consumer's demand.

OMG dude, you are speaking to Truth there.

[TitsMcGee]

What he is saying makes sense. A good portion of Congress agree with him. Democratic party leaders are among them. A good portion of the Big 3's employees think it's the way to go.

An economic bail out is not the only way to save the Big 3. It's just what the cooperate execs prefer. Bankruptcy and a restructure is how most company's have saved themselves over the last few hundreds years.

I am really shocked that so many of you are siding with the fat cats in charge of GM, Dodge and Ford.

Because it's hard enough to find a job in this state as it it, if the Big 3 go under what will there be for the rest of us?

[Gaf The Horse With Tears]

Bankruptcy does not mean the Big 3 go down. Bankruptcy allows them time to restructure debt, sell of portions that are a drag on the rest...

It actually has a better chance of saving the Big 3 than anything else.

Giving them a huge wad of cash but keeping the same business model is not saving them... it's giving them more rope to hang themselves.

[Rev.Reverence]

SO...it would seem to me...that what WE have to say about this does not matter in the least.

It is not like WE have ANY say in it...

Am I correct?

[Msterbeau]

I agree that going through bankruptcy is generally the better option. Let them do the hard work of becoming a viable company themselves, not on our dime. The part about bankruptcy that I don't like is that the fat cats at the top will likely still have their jobs making $$$$$$. Look at Delphi, They restructured and the guys at the top still expected to get all their bonuses, etc... Bunch of greedy crooks, and I don't see it being much different at the big three. Government intervention might at least hold those at the top accountable and limit their salaries. They sure as hell don't deserve bonuses. Also, contracts with suppliers will get torn up and renegotiated and debt to them will likely get tossed. Many suppliers will go under if that happens. Sure that's better then the big three going under but they're in rough shape already. On the other hand, maybe they can tear up the contracts with the unions and get reasonable labor rates. That sucks for those guys, but let's face it, when a janitor or simple assembly person makes more per year then a college educated professional, there's something wrong. I'm all for a decent wage, but there's a limit.

And the whole not making what people want. Yeah... A lot of the hurt people are facing now is their own fault. Overloaded credit cards, etc. Sure they buy big gas guzzlers. Who cares, right? It's their money, right? People need to grow up and buy reasonable transportation. Everyone commuting in 3 ton SUVs is the stupidest and most wasteful thing ever. The industry needs to retool to make a profit on smaller cars. They will have to sooner or later or they will never survive.

[n0Mad]

Remember when Chrysler was a failing company and Lee Iaccoca took over? He gave up his salary for one year and sunk it all back into the company. Sure turned things around and made Chrysler huge. After that whatever he got paid he deserved.

[jynxxxedangel]

By looking at the popular models of vehicles these days (expensive), and the price of petrol (expensive), one would assume that poor and middle-class Americans don't drive. *straightface*

The common, everyday mobility we take for granted is quickly becoming a status symbol. You watch-- in another few years, vehicles, insurance, registration, and gas will be SO expensive, only rich people will be able to afford to drive. Just another way for us average Joe Citizens to slip through the cracks, while the rich prosper.

I really don't know how to feel about this buy-out business. In many ways, letting the corporations starve would be helpful, in the long run. But in the meantime, many more blue collar workers would be losing their jobs, and suffering more pay cuts. As I said..cutting off the nose to spite the face.

[SaGa]

SO...it would seem to me...that what WE have to say about this does not matter in the least.

It is not like WE have ANY say in it...

Am I correct?

the only say people have will be when the union negotiates and if your part of the union. and thats limited cause you gotta agree with a lot of what the top dogs in the union say.

[SaGa]

By looking at the popular models of vehicles these days (expensive), and the price of petrol (expensive), one would assume that poor and middle-class Americans don't drive. *straightface*

The common, everyday mobility we take for granted is quickly becoming a status symbol. You watch-- in another few years, vehicles, insurance, registration, and gas will be SO expensive, only rich people will be able to afford to drive. Just another way for us average Joe Citizens to slip through the cracks, while the rich prosper.

I really don't know how to feel about this buy-out business. In many ways, letting the corporations starve would be helpful, in the long run. But in the meantime, many more blue collar workers would be losing their jobs, and suffering more pay cuts. As I said..cutting off the nose to spite the face.

the democrats want to bail them out. bailout means they whould have direct say in the structure of the big 3. and it whould support the union more then the company itself.

the auto industry just wants a loan to buy them time, specially during the christmas lay over when they can get the new models out, also time due to the credit crunch going on thats preventing people from getting a car. unless you got perfect credit and a nice fat down payment.

[TitsMcGee]

I agree that going through bankruptcy is generally the better option. Let them do the hard work of becoming a viable company themselves, not on our dime. The part about bankruptcy that I don't like is that the fat cats at the top will likely still have their jobs making $$$$$$. Look at Delphi, They restructured and the guys at the top still expected to get all their bonuses, etc... Bunch of greedy crooks, and I don't see it being much different at the big three. Government intervention might at least hold those at the top accountable and limit their salaries. They sure as hell don't deserve bonuses. Also, contracts with suppliers will get torn up and renegotiated and debt to them will likely get tossed. Many suppliers will go under if that happens. Sure that's better then the big three going under but they're in rough shape already. On the other hand, maybe they can tear up the contracts with the unions and get reasonable labor rates. That sucks for those guys, but let's face it, when a janitor or simple assembly person makes more per year then a college educated professional, there's something wrong. I'm all for a decent wage, but there's a limit.

And the whole not making what people want. Yeah... A lot of the hurt people are facing now is their own fault. Overloaded credit cards, etc. Sure they buy big gas guzzlers. Who cares, right? It's their money, right? People need to grow up and buy reasonable transportation. Everyone commuting in 3 ton SUVs is the stupidest and most wasteful thing ever. The industry needs to retool to make a profit on smaller cars. They will have to sooner or later or they will never survive.

I drive one of those big gas guzzlers because I got it for free from my grandmother when she got a new car. So yeah I'm not spending money I don't have on a new used car until my jeep dies. And frankly in the area I live in, I need the 4 wheel drive because we get a lot more snow then you guys do down there.

[Onyx]

Remember when Chrysler was a failing company and Lee Iaccoca took over? He gave up his salary for one year and sunk it all back into the company. Sure turned things around and made Chrysler huge. After that whatever he got paid he deserved.

Exactly.

The idiots in charge now won't even give up their private jets. The waste needs to stop first.

[creatureofthenyte]

Exactly.

The idiots in charge now won't even give up their private jets. The waste needs to stop first.

Well flying to Washington DC on company sponsored private jets, and then going to congress beggin for money wasn't a smart move on their part. I agree they should go bankrupt and reorganize. They also need to re-negotiate the union contracts. And No, the union is not the bad guy here. Its not the union's fault that they won the big legacy deals and pensions and insurance. They got those when times were good, and management agreed to it. Its managements fault. However they need to give some of that back, otherwise the company Will go out of business. I had heard a rumor, and its JUST a rumor, that a company run by the Chinese government is interested in buying Chrysler and GM. I hope that never happens because then the quality of the vehicles will go straight to shit. As long as those idiots are in charge at the big 3, those companies will be in a world of shit.