New Detroit bailout plan

[emayer]

nplenzick wrote:

emayer wrote:

I say let 'em sink. The notion that millions will be unemployed and suppliers etc. will go under is not entirely accurate. I'm sure there are plenty of foreign automakers who could easily fill the void using these existing assembly lines. Many suppliers/ ancillary companies sell to these firms already anyway.

Forcing these companies into bankruptcy could yield a leaner, consolidated firm with the potential to (finally) build a quality product....

Enough with the handouts already. I'm pissed to hear that AIG is handing out hefty "retention" bonuses this year. How about letting the taxpayer "retain" something instead? Sounds like the easiest and most equitable way of getting this economy running again.

Yea that's what we need, more foreign companies taking their profits and sending them back to their home countries.

Forcing these companies into bankruptcy would collapse the stock market. Who would buy a car from a bankrupt company? Not me! What would happen to the warranty's on the cars that people have now? No one knows but bankruptcy could give anyone of the big three the legal right to not honer them along with just writing off the stock owned by stock holders.

It's interesting how quick we bailed out the banking industry and the amount of money they received. Don't think other countries don't subsidize their auto industries, they have been doing it for years. If the French government didn't step in to help Reanult in the 70's they would be history today. They even want as far to help their F1 team at the time!

We gave tax incentives up to a few years ago for people to buy SUV's, so what's wrong with what the original poster suggested?

Nothing is wrong with the original proposal at all, arguably I've broadened things further by letting the taxpayer keep more to help restart the economy altogether- not just one failing industry.

Companies come and go as do entire industries yet the stock market will ultimately prevail. Provided that is we show faith in American ingenuity and our capacity to evolve from dire circumstances.... Bankruptcy will force all affected parties to sit down and restructure now rather than prolonging the inevitable at our continued expense. Shouldn't the ultimate goal be for us to come out of this stronger?

The notion that we have to keep the US auto industry alive for national purposes is a weak argument at best. These companies are all international conglomerates actively trading and selling in international markets.... If memory serves GM owns Opel, SAAB while Ford owns Volvo, Aston Martin etc. The list goes on. Meanwhile MB, BMW, VW, Toyota, Hyundai, Honda all manufacture and use suppliers here. What's wrong with these American jobs?