Jeeze, dumb and dumber (ysr/daddidoo). Why stop there: how about go after Microsoft since they have some software applications in an auto, or Sun Micro since they have software that is used by the Big 3 in accounting, and don't forget Michelin, Goodyear, etc. for tires, and lastly: the unions for their role in high priced labor.
Why not loan the Big 3 the money under the understanding that they limit compensation to ALL. Make cuts where cuts can be made. Do away with the bonuses first. They don't deserve any more than 1 million a year for the top execs. Cut out the corp. jets (8x34 million just at GM) do away with fancy dining rooms and all the chefs, cut the 1.4 million expense to heat the exec. garage, cut out 1/2 of the levels of management, make everyone accountable for the performance of their duties,etc... Think that might work?
Daddioo, I'm assuming by your post you favor having big oil pay for other companies mismanagement? It makes no sense. I suggest that the Big 3 file for bankruptcy, offer a one time pension payout to retirees, restart the company with NON UNION employees, get huge tax incentives for new or refurbished plants (like the foreign owned companies did), and embrace the management style that has proven successful at Toyota, Nissan, Honda, and BMW plants here in the US. Interesting how the unions have had no success in organizing at these plants as they happy and productive employees. The Big 3 can and does make some fine cars/trucks, but they can't compete in the market with the high labor costs (and in many cases, bad employees with union protection). I sincerely hope the US automotive industry survives, but unless drastic changes are made, the bailout is a total waste of money.
john deere runs bascally under the same contract as the big 3. all new hires for the last several years work for half what the older employees do yet i haven,t heard of the price of a new john deere combine or tractor being cut drastically. i think their is plenty of blame both on the uaw side as well as corporate management.multi-million dollar salaries plus multi=million dollar bonuses drains a company pretty fast as well i would think.i i have seen a graph comparing the big 3 labor costs compared to toyota, honda nissan, but i have yet to see anyone show a graph comparing the white collar salaries & bonuses at the big three compared to the same at toyota,honda,nissan. has anyone heard how the toyota factory that makes full size toyota pickups is doing? i think it is in texas but i could be wrong. dwain
Great idea! This could be the start of Obama's "spread the wealth" campaign. I am sure the Oil Company shareholders would agree to share capital with the auto industry which would prevent future exploration and developments. NOT!!!!
I for years have thought that the big three were in bed with the oil companies.One hand washes the other.Let the oil people as well as the Saudis bail out the three stooges!!Who better than the oil companies have profited from the poor mileage vehicles that have been produced year after year and sold in this country?Just my two cents---Yeah-I DO feel better now.
Which foreign branded automobiles and trucks get better mileage than the domestics of the same size and horsepower rating? For example mileage ratings for the large 4wd PU trucks, Chevrolet Silverado 4.8 14-18 mpg; Ford F150 4.6 13-17; Toyota Tundra 4.7 13-16........so where is the mileage advantage? The big three have been building the larger cars, trucks and SUVs that the public demanded until fuel prices spiked. If fuel prices stay down the larger vehicles will sell again.
50 percent of all GM parts mfg. has been sent over seas since the early 80's up to now.Mostly assembly here now.What did GM do with all the money saved from paying 20 bucks an hour to 80 cents per hour in foreign countries?Cost of a car didnt go down,bonuses went up for big exec's.Remember when you want everybody to make minimum wage you erode the tax base of the country.The price of the car will never go down if the big three were non-union making 5 bucks an hour they will still rob the public and line their pockets.We are at the bottom of the food chain get used to gettin screwed......Don