BiggerPockets

I'm a free-market person, but if the autos go under, we'll have millions of more people without work. Do you guys think we need a bailout or maybe some of you have some other ideas?

I believe I read something from Pelosi about requiring a rigid set of requirements on the car makers if there was a bailout.

While I'm against a bailout, it is definitely a scary proposition having all of those people lose their jobs. Whole cities will become unemployed. The impact on the US and global economies would be devistating. Maybe it needs to happen . . . I just don't know.

If the people in power were to do a bailout, I'd certainly require a few things, including mandatory increased mileage standards as part of the deal. Additionally, since it is the American people who are financing these companies, we should ABSOLUTELY get a piece of the pie. The public should own a part of the company and be rewarded financially as profits return. Perhaps an Auto Czar should sit on the board of directors as well . . .

While I do not want government controlling any industry, we're already doing it. If we can't stop it from happening, at least we can do so sensibly.

Here's an interesting commentary by the NY Times on the Auto bailout - definitely worth a read:

If Detroit Falls, Foreign Makers Could Be Buffer

They have been for many years in the auto industry!

I worked in the auto industry for 12 years and feel qualified to discuss this issue.

The politicians, oil companies, unions, and automakers are all bedfellows that have created their own demise. To blame this mess on the wages of the grunt workers on the floor is just too easy of a target.

Overpaid? Maybe, but the companies were making money hand over fist and I feel those wages were justified. How can the company ask for a pay cut from the worker when their executives were getting multi-million dollar bonuses?

Political Issue: There are certain tax breaks and incentives that companies like Toyota and Hyundai have been given that allowed them an advantage over the American companies.

Major Company Issue: The big issues is that other companies do not have the huge legacy costs of retired workers that the Big 3 have.

Major Union Issue: Protecting their existence. Union leaders are not as stupid as many folks think. They know that they are a dinosaur and are fighting to survive. While I believe that unions have their place and are much needed for the protection of the worker, they have become a bloated bureaucracy that creates an environment with no incentive for productivity.

The problem I have with the companies is that if I saw the writing on the wall in 2002, how did they miss it?

I'll tell you.......Greed......that's how.....

Not unlike the real estate business, they experienced their own bubble. The companies were riding high on the cash cow that is the SUV. Instead of planning ahead for the next cycle, they squeezed every dime out of their truck and SUV divisions.

The auto companies got lazy & greedy. The Unions remains inflexible, and the government continues to allow unfair import/export practices.

A bailout? Not really sure money is the real answer. While it would crush me emotionally to see many of my friends and family become a victim of this industry, I feel a bailout might just extend their pain and not solve the problem. Maybe we just need to get this over with.

We ALL need to understand that to enjoy Capitalism in good times, there is a price. That price is to live the brutality of Capitalism in the bad times. Americans always want to have their cake and eat it too, and this is just not possible,

It is very clear to me that these companies need a new business plan, the government needs to create an equal playing field, and the union needs to become more flexible.

Until that happens, throwing money at a sinking ship in order to pay the sailors who are not fixing the holes is a waste.

American Airlines course of action would be my preferred action. The government did not bail out AA but let them file bankruptcy and reorganize their opporations under BK protection. The auto maker's as well as the unions are at fault for a lot of their problems. Let them ride as they are and be forced to make a new working game plan. No more CEO million dollar parachutes and bonuses, pay for performance is how it should work. Also, when has the government ever paid back the public for money they have more or less taken from us without our permission, social security is a great example of government borrrowing money without paying it back. I think Boeing in Washington state is next big company that will fail if the company and the unions can not build a better mouse trap to operate in.

I did that wrong. I agree with Tony. We're on a slippery slope with all these bailouts. Not too long ago, our national debt amounted to $437,000 for every man , woman and child in the US. Some can afford it, but not very many. It seems we're choosing socialistic policies and will have govt involved in all facets. Currently in banks, insurance, autos soon and it will never end. American Express is my guess for the next handout.

I'm considering moving me, my wife, and kids there. Sounds like a BLAST!

Too bad it is below $5 or I would be shorting it right now!

This is insulting. These guys just don't get it...

http://abcnews.go.com/Blotter/WallStreet/story?id=6285739&page=1