Detroit Bailout

Jon · Post by **Jon** » Thu Nov 20, 2008 9:57 am

Well i just heard on CNN live coverage that they are going to pass a measure to give the Big 3 their $25B today.

Bwcad1 · Post by **Bwcad1** » Thu Nov 20, 2008 9:59 am

Its not free money y do people keep saying that shit?

MobileAudio219 · Post by **MobileAudio219** » Thu Nov 20, 2008 10:47 am

If the big 3 crashes the ecomony will go into the crapper.

You think the employment rate is high now? ha ha hahahha ha!

If the big 3 closes down there will be hundred of thousands of jobs lost... Lets not even count the assembly workers (because really, they just make up a small %.)

Car dealerships, gone! How many (big 3) dealerships do you have in your city? How many people do each employ?

No new cars? No new parts! Thats alot of jobs gone!!!!

Whats the key to a strong ecomony? Huh? What was that???? A strong work force??? Yeah, thats right!

What happens when a few hundred thousand (if not more, look at the big picture) what happens to the ecomony???

Lots of people go on unemployment!!!!!

What exactly does that do???? Sales (for everything) spiral down... What happens when people stop buying things??? Companies go out of business!!!!

How does that help our ecomony??? It doesnt!!!

Conclusion???

We need to bail out the big 3!

Yes, there needs to be a few conditions that go with the loan...

Ryan from Ohio · Post by **Ryan from Ohio** » Thu Nov 20, 2008 11:33 am

GM Want 10-14 billion yet looses BILLIONS each month.

Chrysler and Ford are similar.

$25 billion = 6 months or less to collapse.

If they have a way to change themselves that quickly they should of done it 2 years ago when the red flags started going up. yet they continued on.

MobileAudio219 · Post by **MobileAudio219** » Thu Nov 20, 2008 11:47 am

Obviously theres some things they need to change.

They need to cut wasteful spending and design some better cars...

They just need to get their sh*t together!

falkenbd · Post by **falkenbd** » Thu Nov 20, 2008 11:47 am

Our entire economy is teetering right now. There are many things that could make it come crumbling down. I think these 3 motors companies CAN'T be allowed to close their doors, but the government needs to stop printing money and handing it out to large corporations.

coot · Post by **coot** » Thu Nov 20, 2008 1:30 pm

local papar said today that if gm goes under between its workforce and its suppliers 3.5 million jobs lost

Ryan from Ohio · Post by **Ryan from Ohio** » Thu Nov 20, 2008 1:34 pm

Precisely.They need to make changes to survive. Problem is the red flags went up over 2 years ago and they ignored them.

Gas went sky high and they kept producing big SUVs for over a year. Then they started talking about change.

Now they want this money to stay afloat. Problem is this money isnt going to last past 6 months at the rate they are burning through money. They cant inflict enough change in 6 months to make it.

They are going to fail unless we bail them out a few times, not just this once.

Jon · Post by **Jon** » Thu Nov 20, 2008 1:38 pm

Guys I understand the significance of the Big 3. I live in Ohio. We are only 45 mins from Detroit. We are the home of Jeep. I understand all the repercussions of them failing.

But, what good is $25B going to do? I know your thought process is we have to do something. But what if $25B is really NOTHING? What if they would blow through that $25B in 6 months and come back with their hands out again at that time? Are you willing to give another $25B every 6 months?

What Congress is saying today is that they are willing to give them a loan, but they MUST give them some plan on how the money will be spent and what ROI the public can expect from these loans. The Big 3 still up until today have not given Congress a hard number of just how much they really need. They have not given them any data that shows where the money will be spent.

Imagine you walk into a bank and tell the loan officer that you need money for your family or they will die. The banker asks you how much you need and your response is how much do you have? Then he asks how are you going to spend it and you reply that if you don't give me the money my family will die! Then he asks you how you arrived at his bank seeing that you live across town and you reply that your chauffer brought you in your Rolls Royce now please give me my money!

MobileAudio219 · Post by **MobileAudio219** » Thu Nov 20, 2008 1:49 pm

Ryan from Ohio wrote: They are going to fail unless we bail them out a few times, not just this once.

I think that we need to think long term on this one, we might have to keep them a float for a while, but we cant really afford for millions (potentially) to lose their jobs...

It's kind of scary, if they close down I think really bad things will happen.