Comments | picard42: Auto Industry Poll

picard42

Auto Industry Poll

Dec 03, 2008 14:47

According to an article on CNN, 61% of the public opposes a bail-out of the big three, with 70% describing it as unfair.

Most people are idiots, though. What is the general opinion of those who actually have half a brain? So I ask you:

Poll Auto_Industry_PollI tried to include as many reasons BEHIND the answers as I could immediately think of, since I'm interested ( Read more... )

Comments 8

raptorck December 3 2008, 20:39:39 UTC

Yes, with restrictions. One of which should be that it's not a bailout, it's a loan. Additionally, even if the Big Three collapse, people have still been *buying* American cars this whole time. If they go away, the other companies are going to have to pick up the slack in the market. Since they *have* been manufacturing cars in the US, just with non-union labor, it's not like there isn't a place for all of the upcoming out-of-work auto workers ( ... )

picard42 December 4 2008, 13:53:54 UTC

If you're referring to my Hyundai Sonata, the poor thing was rear-ended into oblivion a few years ago. I currently drive a 2002 Mercury Sable that I got a great bargain on. It's boring as all hell, but it gets me from A to B.

I'm skeptical when people make the loan/bailout distinction. You can call it a loan, but if the Big Three can't turn a profit, it's a loan that they'll never repay, and essentially a bailout. I suppose Uncle Sam can take an equity position in all three in exchange for the money, but I only like that idea if they're non-voting shares. I don't see anyone floating this idea around, though. Maybe because shares in GM are better used as toilet paper than stock certificates at this point.

raptorck December 4 2008, 17:16:49 UTC

Well, frankly, it's a worthless investment if it's not going to pay off, at which point, it shouldn't happen at any price ( ... )

gigerlicious December 4 2008, 01:23:16 UTC

Oh man, you bring up a topic I've been itching to talk about. Living on the event horizon of this issue gives me a rather different perspective than your garden variety fiscal conservative or coastal pro-environment/anti-industry liberal. I will get around to my own long ass answer, but for the moment in the short let me just say America needs to decide now if they want a manufacturing component to their economy, because if they let these companies go, there's going to be a giant sucking sound coming out of the Rust Belt that will affect the rest of you.

ytse December 4 2008, 15:56:49 UTC

It looks like the 25 billion has grown to 34 billion - http://hosted.ap.org/dynamic/stories/C/CONGRESS_AUTOS?SITE=KYWAM&SECTION=HOME&TEMPLATE=DEFAULT... )

bcarothers December 4 2008, 19:06:06 UTC

I went with "Yes with conditions," though I think "too big to fail" is valid as well, depending on how the chips would fall on where those employees would go.

Pretty much everything folks have said here mirror my own thoughts, so I'll just forgo the redundancy and say "me too."

ytse December 5 2008, 03:47:42 UTC

I'm becoming a fan of Corker from these hearings:

http://www.youtube.com/watch?v=SxpB7vQFODM
http://www.youtube.com/watch?v=xKEXi3ZgUYs