Forget Housing. Bailout Michigan.

[...] wrote about this back on July 24th, only half joking when I said we should “bail out Michigan.”   With [...]

The party's over for Detroit. Since I was in high school, I'd complain over how greedy the unions were, but was told I was too young to understand how "valuable" they are. Well-I went a different route; never have been in a union. Now age 49, and facing constant changes at the technology company I work for, the mindset is to deal with the uncertainty -just deal with it. Hey Detroiters-pack up and get used to the "migratory" American workforce. You might just like living in another part of the country. Anywhere but Detroit, I'll say. Oh-and get rid of that bozo mayor, too. His face bears Detroit's autobiography. Incompetence...

I don't care for this socialism practiced by supposedly capitalist America.

The reality is that high taxes have caused huge economic problems with Michigan. Would you relocate your high tech facility there knowing that you would be subject to high corporate and high personal income taxes. The State pays a fortune for all these ads showing how great the State and its Universities are but the reality is that business people look at operating costs by and large. I don't blame the unions...I blame the politicans for fostering a socialist society in Michigan. As for taxes look to my state of Nevada where we are increasingly getting more and more high tech businesses who are tired of California/East Coast taxes.

I have worked my rear end off for years to pay down my mortgage, and be conservative in every major purchase I've made. I don't have a boat, big screen, pool, cottage, or anything else that could destroy my credit. If I couldn't pay it off I wouldn't purchase it. Now I'm told I'm going to have to help those who let there finances get out of control, or a greedy lender. Humm, I guess I could just purchase there $450,000 home at auction for 250,000. I've seen it happen already in Michigan. So, I guess to be positive about this some of us can be the big winner. GO FOR IT!

I'm an executive recruiter here in the Southeast. Actually, most of my clients prefer to hire younger employees with less experience rather than senior employees from Michigan. There are several reasons, but what I have found is that the salaries in Michigan are substantially higher than here in the southeast and there is a lot of resentment that we are not paying "fair" salaries. As far as Union employees, they need to understand that the companies that are growing have a great team spirit and work together to "lean out" the process and eliminate waste in every form. If someone is serious about leaving MI, I realistically advocate auctioning off your house, packing your belongings in PODS and then telling people that you are mobile, liquidated and motivated and you will be traveling through the area and would like to discuss any opportunity at any salary. The Free Market is rough and tough, but it is efficient. Let the "Invisible Hand" work.

Keep in mind that the liberal citizens of the counties of Wayne, Oakland, and a few others in Michigan are the socialists that voted for the current crop of incompetents. Detroit is a disaster unto itself and will always vote a ticket that promises everything but delivers only despair. Unfortunately, those of us who believe in personal and fiscal responsibility were a minority. Maybe the losers will leave in search of better (more liberal) pastures and things will change.

Exactly right Eric..! Union mentality (socialism) is the problem. Entitlement union thinking is obsolete. It would be great for Michigan if all the laid off union workers who still believe in this socialistic approach were let out of their mortgages, and provided with a large U-Haul truck with a one way ticket to the new automotive sector in the southeast states. Once they’re gone we might be able to fire our economically retarded governor and legislature who think the solution to our problems is to raise taxes and invent more government programs. Michigan doesn’t need a bailout we need a lesson from Milton Freedman! The free market works, even when you try to stop it. While us in Michigan run around crying about unfair competition everyone else in the world in figuring out ways to compete better with us. It will be a great day when the entitlement mentality is completely killed in Michigan and we all get to work innovating, and taking risks, and working hard for a fair day’s pay!

I have a hard time saying that the good people of Michigan are not responsible for their own fate. The MAJORITY of voters there chose their incompetent leaders from the governor all the way down to the mayor of Detroit. Maybe hard times will move them from a socialist mindset to electing someone who is reform minded and supports free market principles. Michigan is a regulatory nightmare for industry. You get what you vote for.

This is stupid. They elected the union officials (they do have union elections, you know). Simply put, the auto industry is dying, as is manufacturing as a whole in the US. No amount of bailouts will change that, it will only postpone the inevitable. But seriously, stop this nonsense. Michigan needs to come to grips with the fact that the auto jobs aren't coming back, and cut taxes to spur growth in other industries. Why does everyone always look to the government to solve their problems? You elected these people (both the politicians of MI and the UAW officials), so stop with the "poor me" garbage.

I agree with Dave. The union entitlement mentality got them into this mess and they need to feel the effects of the other side of the sword. Enjoy the ride.

Maybe they could hire some of those unemployed to rebuild our crumbling infrastructure. Spend a few tens of billions on new roads, bridges, electric power grid upgrades etc. Sounds better than letting them wither on the dole with no hope.

Screw detroit, don't bail out anyone. If congress has that much money to throw around, how about they cut my taxes.