Big Oil should bail out the Big 3, at least the big 2, who cares about Crystler? Here in the South, there are three types of people - those who drive chevy, those who drive ford, and communists lol
But seriously, they probably do need to be bailed out. There just needs to be very strict conditions such as salary caps, no bonuses, increased fuel economy standards, etc
I hate the fact that Congress is voting on bailing these guys out without any repercussions to the UAW. As long as they have a stranglehold on the big 3, nothing can truly be changed. Still need to get your facts straight before you post, the bailout is “only” 15 billion because Ford is not taking any money. Also if they truly create a car czar the industry is truly screwed. The Fed is the only thing that runs less efficiently than the automakers.
I have a family member who took the early retirement buyout from GM a couple of years ago. He was 50 years old at the time and had worked there for 30 yrs. They gave him 130K in cash and he draws 95% of his normal hourly pay monthly.
It’s not the cars that they make or how crappy they are. The fact is that they are making better quality cars than they ever have. They (GM) also would have had to have a crystal ball to see the spike in energy prices that was entirely driven by speculators rather than shortages.
It’s that the industry was strangled by labor. The really crappy news regarding this bailout is now I get to support my relative and his retirement. Talk about a golden parachute. The guy makes 100K a year at 52 for installing 4 bolts on an auto for 30 years. Damn, did I get into the wrong business.
For years all we hear is “Let the Free Market compete without restrictions, and it will succeed.” Of all the industries in America, the auto industry has been given a very free reign for 50+ years. In fact they’ve done a lot of underhanded things and gotten away clean. Guess what? The free market -doesn’t- always work! The Big 3 have accumulated a big plate of FAIL and should have to pay the price for rigging the game for decades. Let them scale back, stop selling so many models that often end up competing within their own product line, and maybe sell their equipment to smaller manufacturers. This will give smaller companies like Kia and Hyundai a chance to move to the top; a lot of the smaller companies are doing fine and deserve to succeed where these so-called Big 3 have failed. NO BAILOUT FOR FAILURE
Hmm, good points about the UAW, I haven’t really though about that factor until recently. I don’t buy from the Big 3 and never took notice to them until now when I’m forced to.
I’ve seen it reported that the U.S. automakers could barely break even on their small cars. However, the Japs make a killing with their smaller cars. The biggest factor was the difference in the cost of human resources…
“It’s not the cars that they make or how crappy they are. The fact is that they are making better quality cars than they ever have. They (GM) also would have had to have a crystal ball to see the spike in energy prices that was entirely driven by speculators rather than shortages.”
I’ve said this before, but I’ll say it again. Given their legacy/labor costs, it’s amazing that they’re able to compete at all. I mean, the big 3 still hold 48% of the market share, so they are competing rather well (just not as well as they used to be).
Jim Rambo’s story about his relative tells the whole story. the playing field was not level. congress supported the UAW as a single union to bargain with three automakers who were not allowed to form a single bargaining unit to represent all of them. The Congressional threat was treating the auto companies as an illegal cartel. The labor contracts were forced on the auto companies by the congress and now congress is blaming auto company executives who were, in some cases, not even in the industry when the labor agreements were signed.
The congress should be the ones taking the pay cuts, and the UAW contracts should be voided with the labor bargaining starting again from zero.
Gas 2.0 digs into the viscous world of biofuels and the fast-paced transit arena, exploring the technologies and substances that are the future of transportation.
Big Oil should bail out the Big 3, at least the big 2, who cares about Crystler? Here in the South, there are three types of people - those who drive chevy, those who drive ford, and communists lol
But seriously, they probably do need to be bailed out. There just needs to be very strict conditions such as salary caps, no bonuses, increased fuel economy standards, etc
Btw, I’m a communist
How much is Honda , Toyota and Nissan asking for ?
Oh wait they dont have a bunch of the ‘old’ boys club running the show
- just awesome
I hate the fact that Congress is voting on bailing these guys out without any repercussions to the UAW. As long as they have a stranglehold on the big 3, nothing can truly be changed. Still need to get your facts straight before you post, the bailout is “only” 15 billion because Ford is not taking any money. Also if they truly create a car czar the industry is truly screwed. The Fed is the only thing that runs less efficiently than the automakers.
I have a family member who took the early retirement buyout from GM a couple of years ago. He was 50 years old at the time and had worked there for 30 yrs. They gave him 130K in cash and he draws 95% of his normal hourly pay monthly.
It’s not the cars that they make or how crappy they are. The fact is that they are making better quality cars than they ever have. They (GM) also would have had to have a crystal ball to see the spike in energy prices that was entirely driven by speculators rather than shortages.
It’s that the industry was strangled by labor. The really crappy news regarding this bailout is now I get to support my relative and his retirement. Talk about a golden parachute. The guy makes 100K a year at 52 for installing 4 bolts on an auto for 30 years. Damn, did I get into the wrong business.
For years all we hear is “Let the Free Market compete without restrictions, and it will succeed.” Of all the industries in America, the auto industry has been given a very free reign for 50+ years. In fact they’ve done a lot of underhanded things and gotten away clean. Guess what? The free market -doesn’t- always work! The Big 3 have accumulated a big plate of FAIL and should have to pay the price for rigging the game for decades. Let them scale back, stop selling so many models that often end up competing within their own product line, and maybe sell their equipment to smaller manufacturers. This will give smaller companies like Kia and Hyundai a chance to move to the top; a lot of the smaller companies are doing fine and deserve to succeed where these so-called Big 3 have failed. NO BAILOUT FOR FAILURE
Hmm, good points about the UAW, I haven’t really though about that factor until recently. I don’t buy from the Big 3 and never took notice to them until now when I’m forced to.
I’ve seen it reported that the U.S. automakers could barely break even on their small cars. However, the Japs make a killing with their smaller cars. The biggest factor was the difference in the cost of human resources…
What can the average person do?
“It’s not the cars that they make or how crappy they are. The fact is that they are making better quality cars than they ever have. They (GM) also would have had to have a crystal ball to see the spike in energy prices that was entirely driven by speculators rather than shortages.”
I’ve said this before, but I’ll say it again. Given their legacy/labor costs, it’s amazing that they’re able to compete at all. I mean, the big 3 still hold 48% of the market share, so they are competing rather well (just not as well as they used to be).
So where can I apply for my bail out????
So whos next????
Hilary Clinton????
Jim Rambo’s story about his relative tells the whole story. the playing field was not level. congress supported the UAW as a single union to bargain with three automakers who were not allowed to form a single bargaining unit to represent all of them. The Congressional threat was treating the auto companies as an illegal cartel. The labor contracts were forced on the auto companies by the congress and now congress is blaming auto company executives who were, in some cases, not even in the industry when the labor agreements were signed.
The congress should be the ones taking the pay cuts, and the UAW contracts should be voided with the labor bargaining starting again from zero.