the democrats pledge to get the auto industry billions of dollars.
but tune in to see why an auto bailout may have to wait for the new administration.
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president-elect obama meets with sen. john mccain today.
oooh! interesting. is it to bury the hatchet or something more?
Thoughts on both?
Here are mine:
We HAVE to save our auto industry. We can't let multiple cities turn into Flint, Michigan. We have to make our automobiles as wanted as foreign ones: better gas mileage, better pricing, better incentives. I'm not going to totally get up on my soapbox here (as I've taken an Imitrex for a migraine and it may or may not make sense) but even when we buy foreign cars that are made HERE the profits still go overseas.
On John McCain:
I hope he has a nice role in the next administration... I think they could really compliment each other even though they are DRASTICALLY different.
4 comments:
the auto industry needs the bailout. if they don't get it, we can kiss the economy good-bye. i believe they said if the big 3 fail something like 3 million people could lose their jobs. how can the gov't not bail them out?
it will be interesting to see if McCain is offered a role in the new administration. it's possible i think.
I have faith that our President-elect is going to make good decisions and help our economy.
I have to say we need the bailout. I was watching Morning Joe this morning and they said the bailout would be 25 billion of the 700 billion for the financial industry. That's like a nickel to keep the auto industry alive and people working. I don't think we should let it fail.
We do have to save the auto industry. But I don't think a bailout is the way to do it. A bailout is like putting a Band-Aid on cancer. They'll just keep asking for more money. They'll run out of $25B in six months in their current situation.
The Big Three need a major business model overhaul. They have never invested enough in research and development, or long-term business plans. Instead, they have always worried about short-term gains for their stockholders. Their management has failed them, and they cannot keep up with union demands.
Whether they get a bailout or file Chapter 11, they need to get rid of their current managment and tear up all those union contracts. It's not fair to ask the American people to foot the bill for the pensions and full benefits of the people who "bargained" for such outrageous pay.
The Big Three have a lot to learn from those evil Japanese auto makers ;-)
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