well, oldmangrump, you will be paying the bill as will the rest of us. If gm files bankruptcy, the will dump the pensions of all the retirees on the PGTC. So everyone needs to get their head out of their, when it comes to think that we won't bail out gm, ford or chrysler. It will be just like the Airlines, if one goes so will the other. We Americans are to stupid to protect our jobs as Europe does or Asia.
Not only will we be paying for the pensions, we will pay for the unemployment of millions of workers tied to the automotive industry, steel workers, truck drivers, cooks, etc. It's not about Gm, Ford, or Chrysler.
So figure it out how far will 25 billion go? I don't advocate just giving them the money, like Bush and hiscrony Paulson had with the banks,and financial companys.
First executive pay should be no more than 10 times the lowest paid employee. Second this money will be used to stabilize the company, and create jobs here in the U.S.
The next step is to put a 20% duty on everything that comes into this country just like the rest of the world does.Also tax breaks to companys that create Good paying jobs here, and a massive import dutie for company that want to move our work overseas.
If we as Americans do not start taking care of our middle class. There will be no middle class left.
November 30, 2008 at 5:53 a.m.
well this is what you get with those so called free traders, nobody has yet said why are we in this mess in the first place, JOBS stupid, we can not keep letting companys ship jobs out of our country to china or were ever. These idiots in our government (republicans and democrats) have caused this disaster, screwing every american worker, don't think for one minute that if 3 million people lose their jobs form the big 3, how many of use will lose our jobs that are related to that industry from the cook at the local restaurant to the truck driver delivering the steel to the plant. It's not a bailout anyway, it's a loan with a repayment schedule. that should have stipulations with it like, ceo pay no more than 5 times higher than the lowest payed employee, not stock options, no other bs. and that the big three have to make the cars here in the us that they sell here. Remember this if it wasn't for the unions in this country fighting for what the got, i.e. 40hr workweek, healthcare, safety in the work place. you would be working in the old fashion sweatshops of the past, making little to nothing.
November 22, 2008 at 8:17 a.m.