Posted by ( Overture2theSun ) on November 18, 2008 at 9:39 a.m. ( Suggest removal )

I think the postponement (as that is all we'll be getting for our $25B) is exactly what is needed for the US auto market. The entire economic system is entirely too frail right now to absorb the massive losses that will be caused by shuttering GM or Chrysler or both. Yes, they have made lots of mistakes and believed in their own immortality for too long, including union greed, continuing to take profits long after it became obvious that SUVs and Hummers are not sustainable means of transportation, and the other clumsy reactions to world market influences. But, if the worst happens and GM has to cease operations, the US and probably the world economy would appear a very dim bulb indeed, and most likely not relight for many, many years. There are way too many other workers in other industries intertwined with the American Auto industry that are already have such a tenuous grasp on solvency, that the whole group would go over the edge like lemmings. The guy that could not sell the 12 of Bud Light, because no one came in to buy it, the doctor that had to move or retire because no one has that great medical insurance anymore. The truck driver that loses his job to no more deliveries at the plant, the 20 something kid on the train at the switch yard, the beautician, the mailman, pizza guy, bank teller, and on and on, all gone because the money stopped coming out of GM Linden, or Ford Norfolk, or GM Hamtramck, or Chrysler Newark, or Chevy Tonawanda... The pundits and financial reporters are thinking about the guy in the flannel shirt with the lunch pail walking to the time clock with his fat union benefits, but the big view is a significantly more broad swath of Americana, having a relationship with the money directly or indirectly flowing from the auto industry.

These operations can and should fail if they aren't competing in the market, and in fact some of the plants mentioned have already closed; but if they all go at once, with an economy that is this frail, the results could collapse what little faith is holding the entire economy together. Since US currency is based on faith instead of gold, faith is all we have. So I think we have to string them along for a little while, and hopefully (faith again) with the incoming new President, faith and prosperity will be restored enough to sustain us through the inevitable bankruptcy of GM, Chrysler, or both.

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Posted by ( tonitigerrr ) on November 19, 2008 at 12:50 p.m. ( Suggest removal )

Give $12,000 vouchers to everyone making under $40,000. After the auto makers remove the fat {wages conform to other labor industries and executives are held accountable and have a plan for success} the vouchers can be used to purchase American made cars for $12,000. This would give the struggling "Joe" at leaste a way to get to work. {Possibly even a place to sleep if things keep going in the direction we are heading} Put auto workers and thier partners back to work. (over 2,000,000 cars equal less than a $25,000,000,000 bail out.} This would actually give the taxpayers something for their money and be a real stimulous to our economy rather than sink our tax dollars into banks and industries who have already proven that their ability to manage is the opposite of thier salaries and they should be pushing brooms.

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