| Will it hit you and yours?
Posted: 12/12/2008 4:54:50 AM | If one or more of the Domestic automakers were to go bankrupt, would the ripple effect be felt by you or someone close to you? Seeing how so many jobs are dependant upon the automobile industry I am just curious if the possible bankruptcy would hurt any of you in the form of layoffs or outright losing your job.
What if anything could be done in your opinion to stave off the impending doom?
Should the U.S. govt. provide help to these companies?
If they do, where does it stop? They have already bailed out the banks and now they are trying to bailout the Auto industry, problem is when and will they actually help the general population with more than some pissant 600 dollar check?
This is an interesting time we are living in right now. On one hand I think the car companies should be allowed to fail, but on the other hand I do understand that the U.S. economy would most likely never recover. | |
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| Will it hit you and yours?
Posted: 12/12/2008 5:33:33 AM | | I say let them go bankrupt. they have tons and tons of baggage, unions,retirement, insurance, ect.I hate to see everyone loose their job and retirement but these are poorly run companys.As the companys got older,they should have gotten leaner and meaner.instead they got fat and greedy.If they bo bankrupt,they will open back up as fresh new companys with no baggage.All there supplyers will do the same. We need to look to the future,not the past.As in gas mileage,and solar, mass transit ect. guess what. If you dont plan for the future,and save for the future,you have a very dim future. As these companys are they will fail sooner or later. Bite the bullet and let them fail now. | |
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| Will it hit you and yours?
Posted: 12/12/2008 5:55:34 AM | | The ripple effect of the auto industry demise would be a diaster. I personally know of 2 companies[both employ over 300 people each} here in columbus that would close the doors if GM were to go Bankrupt. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:00:45 AM | | But if the Govt. ends up giving them the money they want, is it a fix or just a band-aid? I personally think the worst is yet to come. I think both GM and Chrysler will fold. Ford may be viable for the short term but without a major restructuring of their business plan they too will eventually fall. The experts have said that an event of this proportion will cost close to 3 million Americans their jobs. I don't see the light at the end of the tunnel. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:07:48 AM | | Sure it will impact me and everyone else.But throughing billions and billions into a company that is going to fail anyway, makes no sense.who do you think is going to pay for the billionsthat are lost.putting off biting the bullet will not help.Its a temporary fix. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:10:39 AM | I watched on the news where the heads of the auto companys were talking about how much they make ... The Chrysler head said that he gets 1 dollar for pay and another said that he took a pay cutt of half of what he was making and then the Ford head said that he was fine with what he was making ... WTF He makes MILLLIONS every year and his company is FAILING .. It dont sound to me like he truely cares if his company makes it or not ...
My family is a Ford family and that makes me not want to ever buy a Ford again ...
I am sure that if these companys fail it will realy mess things up more and it will effect everyone ... but I feel someone or ppl with the a fat wallet will come along and buy them out and start all over ...
AnglFlyn | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:27:28 AM |
I am sure that if these companys fail it will realy mess things up more and it will effect everyone ... but I feel someone or ppl with the a fat wallet will come along and buy them out and start all over ...
OK how long do you think it would take for that to happen? Do you think that will be any consolation to the millions of people that lose their jobs?
A friend of mine posed this as a solution...Each domestic automaker should be given the niche of the market that they do best in. Ford - Trucks, Chrysler-Minivans, GM-Passenger cars. Restructure the entire industry around that and once they prove viability long term then and only then can they branch out. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:33:55 AM | | If they wanted to avoid all this crap. all they had to do is double the minimum wage.people would have twice as much money to spend. companys would make twice as much as before. The dollar would go down in value,but every one be working. the goverment would get more tax. History shows that when you raise min. wage the economey grows. And history shows it will not hurt or bankrupt small or large companys.Infact the companys just get bigger and richer.you could pay your house payment and buy gas for your american made gas hog. No more problem | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:42:02 AM |
If they wanted to avoid all this crap. all they had to do is double the minimum wage.people would have twice as much money to spend. companys would make twice as much as before. The dollar would go down in value,but every one be working. the goverment would get more tax. History shows that when you raise min. wage the economey grows. And history shows it will not hurt or bankrupt small or large companys.Infact the companys just get bigger and richer.you could pay your house payment and buy gas for your american made gas hog. No more problem
Do you honestly think that would solve the problem? Yes higher wages would mean more money to spend, but forcing businesses to pay higher wages only forces them to pass the costs on to the customer and we end up with the same economic problems we already have. I only see this as a benefit for those who would feel better about themselves if they could say they made X amount of dollars per year. Again a higher minimum wage is needed that I agree on but doubling it all at once will not turn the economy around, it will only push us further towards a depression. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:53:12 AM | | We have raised min. wage several times and it has never been a problem. look a history.no depression in a lot of years. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:55:28 AM | | You proposed to double it! I am all in favor of raising it slowly but to double it would be a bad idea. | |
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| Will it hit you and yours?
Posted: 12/12/2008 7:04:47 AM | | Your are right.double would be a bit much.but we are way over due for an increase in mim. wage. | |
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| Will it hit you and yours?
Posted: 12/12/2008 1:59:11 PM | addressing the issue of minimum wage first.......we are in a recession, small businesses are closing their doors all around us , mom and pop businesses are struggling as much as we are, if we were to significantly increase minimum wage right now we would only come face to face with more locked doors.
as far as the demise of the big 3, it seems everyone would be effected in some way even if they are not aware of being owned by a subsidiary of one of the auto makers, many are. i wonder what will happen to the benefits packages of the retired and those that took early windows out in our recession in the 70"s
i have a question also. isn't Chrysler now owned by diamler? a German company? why are we bailing out a Germen company? not picking on them, I have two dodges .
fact is we all are being effected by the failing economy and the automakers are a huge part of American industry . we are all suffering in one way or another and will continue to until the economy improves. I pray we don't lose too many more companies before the improvement happens. I love the idea of each automaker working on their best product, at least for the time being. | |
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| Will it hit you and yours?
Posted: 12/12/2008 3:19:14 PM | | I think we have no choice but to bail them out...but it should be done with stipulations. I believe The Big 3 has had bad management for years. I work for Honda in Marysville, and times are tough for us right now also. But we do not have CEO's that make millions of dollars a year, maybe that's part of the problem. I know that there will be alot of supplier plants that would be affected in Ohio, should any of The Big 3 go down. That in turn would affect our plant because they make parts for us also. I know some people don't feel that Hondas are American made cars. But for myself and 40,000 other employees in Ohio, they sure seem American enough to us. | |
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| Will it hit you and yours?
Posted: 12/12/2008 6:54:45 PM | The Big 3 will fail sooner or later anyways so if they dont care such has the head of Ford then WHY should anyone else ? .. He is going to let his company go down anyway sooner or later ...
AnglFlyn | |
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| Will it hit you and yours?
Posted: 12/13/2008 6:55:41 AM | | the effect will be felt by everyone in some way. i believe i seen yesterday that almost 800,000 could be lost! That alone mean everyone will be affected. Unemployment taxes paid by employers go higher, with the current crises having a lot of companies barely hanging in. New car sales money now goes overseas instead of nationally. Some trade (NAFTA) has auto parts manufacturing as part of the agreement, and we will no longer be abel to honor those pacts. It is already happening, and think about the money not spent by 800,000 people is the auto industry fails (in all areas of the economy ; real estate sales, food, clothing, cost of our lifestyle to enjoy, kids education,..everything). Lets continue: many have or are using funds originally set aside for retirement to stay afloat NOW. this means that money will not be there to retire in 20 odd years. Meaning lots will have to continue to work, usually with lower paying jobs cause the younger generation is more current on marketable skills. We have no choice - if the domestic auto industry collapses, it could be the final 'straw' in a total collapse of our economic system..this actually almost happened several weeks ago. When...if..it does...currency is worthless..all that we have worked for our lives is worthless....no reason to go into work...no reason to pay bills...money is worthless, meaning everything is free, meaning we can just go take it...at this point, our country ceases to exist as a democratic state...jmo... | |
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| Will it hit you and yours?
Posted: 12/13/2008 12:09:23 PM | If they wanted to avoid all this crap. all they had to do is double the minimum wage.people would have twice as much money to spend.
While effectively doubling the price of anything you buy, of course the government is pretty handy with the printing press lately.
No more problem??? no just new problems widening the gap between the rich & poor.
OK, the goverment was more than willing to bail out Wall street, a complete bunch of crooks that produce nothing yet generate a lot of cash for themselves. As we speak they are using our tax money to give themselves raises to their 6 & 7 digit salaries, going on retreats, buying up the failed banks that weren't fortunate to have a congressman or senator in their pocket.
The auto industry while I'll agree is poorly managed at least provides a livelyhood for some that trickles down... yeah WTF, just shut them out & let them fail.
The government should make mandates on how the auto industry is run, incorporate a Flex Fuel mandate on all new cars sold by 2011 (Yes this is feasible), while giving themselves a shot in the arm they also create agriculture jobs & ween us all off our dependence on foreign oil & keeping the price of fuel down... wait, this all make too much sense here, we can't have that happen!!!
Who does own Chrysler now?? | |
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| Will it hit you and yours?
Posted: 12/13/2008 2:18:55 PM | Knew Dailmer did sold them off but was unsure to who.
I'm really surprised how GM is treating their Saturn division, they killed it off by making it into another cookie cutter division. | |
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| Will it hit you and yours?
Posted: 12/13/2008 7:40:14 PM | | Pretty much true about GM and they could have done so much with that division. It's gonna be interesting to see what brands survive this whole thing. | |
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| Will it hit you and yours?
Posted: 12/13/2008 11:09:32 PM | | Chrysler is owned by Cerberus Capital Management, which is a private equity entity. It does not trade its shares, or Chrysler’s, on the stock market, and it is rather secretive about its whole operation. Little is known about how big it is, who its investors are, or what it does with its money. Its founder, Stephen A. Feinberg, appears to prefer the opaque to the transparent and the invisible to the well-documented. He doesn’t even like to have his picture taken, and, in one of his rare interviews, he would not permit The New York Times to show his photo. | |
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| Will it hit you and yours?
Posted: 12/13/2008 11:24:39 PM | I don't want to say "does it really matter?" but seriously does it matter? I do not mean to get on anyones bad side hear but this all started after Hurricane Katrina when the oil industry decided to get greedy and Bush did nothing about it. Cost of crud oil went through the roof. State Officials claim they could not control world prices which is true but they can control domestic prices before it enters the U.S. For them to say they have no control over that was a crock because the government has their hands on EVERYTHING especially what comes into the United States.
The auto industry and the unions could not come to an agreement, and I truely believe that the greedy giants in the UAW are the reasons so many hard working auto members lost their jobs because they wanted demands that were impossible to meet by the automakers with out them raising the price of vehicles, which in return cost them to lose money because the average person could not afford to purchas a car. But then again flying corp jets to Washington asking for money did not help their cause. Also alot of them are greedy to begin with. The Republican wanted to Democrates for the reason for this economy and vice versa, but neither one wants to admit that they are both just as much at fault as the other one. Heck if you want to split hairs the Republicans have held office 4 years longer that the Democrates going back to when George Washington was president. I just hope that Obama can at leeast make some good moves to start turning this economy around, because we all know he will not be able to do it completely in 4 years just like McCain would not of been able to do it in 4 years either.
By the way my name is Roger I am from Cleveland :) :) Take Care | |
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