33 Responses to “Auto Industry Video: The Scope of the Problem & Why Trickle Down Economics Suddenly Matters”

1. Comment by YouthDriver

   November 18th, 2008 at 11:40 am

   I want to drive a car that will put me on Advair.

2. Comment by YouthDriver

   November 18th, 2008 at 11:43 am

   Forget aid

   I want a class action against Detroit

   and all who have taken part in destroying the pulmonary health of all children in the world.

   Hey, if the GOP can use the unborn to make a case-

   I’ll use the BORN to make a case.

3. Comment by john

   November 18th, 2008 at 11:45 am

   What is the bottom line for the automakers.. They are in trouble from the unions, the high cost of taxes.. health care… really poor business managment… But, I can tell you what I personally think the problem is …

   How bout you build a better car!!.. I finally gave up on my last Chevy.. I’ve bought a Suzuki car. The difference is night and day.

   For the first time in my 20plus years of driving .. I’ve not had to replace thousands of dollars of parts on my car after every 40,000 miles. I’ve not had the door fall off because of faulty door hinges.. I’ve not had to put 3 alternators on the car before 75k miles.. I’ve not had to put ignition boxes in the car every 40k.. and on and on and on!…

   I would love to buy an American built car. With the heft investment in cars today.. the quality is what I’m looking for.. A message to the BIG 3.. BUILD A BETTER CAR..WE WILL COME BACK ….

4. Comment by YouthDriver

   November 18th, 2008 at 11:47 am

   repost - didn’t show up.

   I will give FBN this.

   Washington Post seems to run more oil petro sector ads.

   I often judge the media on the quality of the advertisers.

   FBN is in a boatload of trouble on that.

   from the paid tv advertisements at night

   to the ads in the day - they’re often these low brow fly by night companies with gimmicky products.

   ALMOST as if it’s all fake.

   Those head on ads ?

   call me insane, but I find them to be JUST an excuse to abuse the ole right brain with all that flashing and repeated brain washing ‘head on’ flash - says it again ‘head on ‘ flash - says it THIRD time.

   After one of those ads ? I tell ya, I might be just worn out enough to suck down whatever is put in front of me.

   It’s like a slap in the face too.

   USELESS gimmick products to remove SERIOUS pain ?

   give me a break.

   Try Oxycontin or my fav. HydroMorph - 2,000 as potent as morphine.

   Your ads leave people frustrated for health care solutions after they find out all the products you support are phony.

   It’s a slap in the face.

   Anyone over 250k a year has a doctor scripting OxyContin and Valium without regard to addiction to opiates or benzo’s anyhoo.

   I don’t get FBN’s advertising spectrum AT ALL.

5. Comment by YouthDriver

   November 18th, 2008 at 11:51 am

   Not for publishing though,

   Will hand it to you there Brian Sullivan, you seem to be alive there in all core aspects to journalism.

   All thoughts on NewsCorp / FBN aside, that’s a good thing.

   Unless there is a slant I’m missing, seems to be great work there on offering up new ideas or new issues to focus on as of late.

   Such as - who’s next, insurance sector ?

   What’s odd is, we already DID AIG, and that they are NOW up to 150 billion ?

   sheesh

   that’s pretty big- we can almost skip some of the rest of the insurance industry, but I do say - good idea if I recall it was you who asked who’s next.

6. Comment by dave

   November 18th, 2008 at 12:23 pm

   Well the financial industry is or was set to get the biggest bail out in history, and they were the ones who got into hot water by giving out money that they knew could never be paid back. So the people who work and pay the bills would have to pay instead of the people who took the loans and who made the loans. The car guys saw this and want in, it’s lots easier to ask for the hand out instead of really running the company like it should be run.

   If i spend to much money and cant pay my bills they come take my stuff, turn off the power and unplug the cable…..

   Are we not all responsible for our actions? Or does that only count if you dont make enough money to have “friends” in DC?

7. Comment by Tony Gray

   November 18th, 2008 at 12:44 pm

   Great point about “trickle down”. I have this argument with friends all the time (I suppose I’m the feisty type.) They can never understand the interrelation of economic forces and how prosperity CAN be raise for all. They live in a zero sum game mentality and no matter how many specifics I can raise to prove my point they retreat to a simplistic rich bashing, take care of the poor at all costs position.

   I spent 25 years in the Army traveling all over the world. The average American has absolutely no concept of what “poor” really is.

8. Comment by N JAY GOLD

   November 18th, 2008 at 2:28 pm

   THE MARK UP ON AUTOMOBILES IS HUGE. THE OVERHEAD MUST COME DOWN. “END OF STORY”

   OVER HEAD MAY CONSIST OF:
   30 MILLION IN BONUS’ GOING TO PEOPLE THAT EARN MORE IN ONE DAY THAN THE “AVERAGE WORKER” MAKES IN A YEAR.
   WORKERS MAKING MORE THAN 3 1/2 TIMES(conservative) THE AVERAGE WORKER IN THE US.
   GREED, WASTE.

   I VOTE AGAINST ANY BAILOUT!!!!!!!!!!! comments@whitehouse.gov.

9. Comment by Ron

   November 18th, 2008 at 3:15 pm

   Brian. Run the #’s and see how many people are affected when the US dollar tanks in value by 20%? How many people work direct or indirect for the Federal Gov’t when they have to close offices for a month at a time such as when Clinton was in office?

   Would this be a tragedy? Yes. Would it be the end of the US? No.

   These companies are bleeding money because they do have 2 million people directly or indirectly involved with this. If they do not trim this # down, it will not matter if we give them 25 billion, or 25 trillion, their business model cannot be sustained.

   How long before these companies are nationalized, and their retirees are bleeding the pension insurance fund and Social Security at the same time?

   My children are going to be burdened with a 60-70% tax rate to be able to care for all of this. How do you think that will affect economic growth in the US?

10. Comment by chuck

    November 18th, 2008 at 3:15 pm

    Brian on left Wing talk radio,Ed Schultz of Fargo ND, has been on a tirade recently. He has attacked conservatives as unamerican,selfish.Which I don’t think isn’t true. Ask Steve Ducey of Fox and Friends why Schultz walked off thier show. But he has been trying to defend auto worker. He denies the fact that much of the big 3 auto problems stem from bad business models,and expensice UAW contracts. Just yesterday Schultz was criticizing the a few Southern Republicans including Shelby for defending thier auto intrests here in the Southeast. I can tell u on this issue 11th rated lefte Ed Schultz has presented all the why facts as to why the automakers are in the trouble they’re in. Just thought I pass this courtesy fyi to you. But I listen to Ed Schultz in the afternoon who I disagree with.

11. Comment by Fred

    November 18th, 2008 at 4:42 pm

    Bravo, for pointing out how quickly some may utilize the exact argument they themselves scorn when it is to their benefit to do so.

12. Comment by Steve L Jones

    November 18th, 2008 at 5:18 pm

    Can’t imagine that anyone thinks tickle up economics will work.
    Without successful big companies there is no economy.

13. Comment by Listening In Texas

    November 18th, 2008 at 7:14 pm

    Is not the animals running the farm; or more specifically the chickens running the roost?

    Those who want FREE money are the ones demanding that the TAX PAYERS GIVE them money.

    I see none of the unions or specifically the UAW coming to the plate and saying; “ok, we need to do something to keep the doors open” instead; they take the position of “blame everyone and everything else” but not them!

    GM and all the American car companies have made continually POOR decisions in management and then capitulating to the union demands over and over. If the employees being in the union cannot come to the table — and not continually reference their 2006 contract changes; which weren’t enough; then let them fail!! Let the BIG 3 SUFFER as the rest of US suffer.

    Throwing money at this is NOT the solution! It is NOT the answer without HUGE changes which should be on the table BEFORE they are given a single DIME of OUR tax money!!

    Let them file BK and then reach reasonable solutions. People still fly on the air carriers who have filed in the past and many of them have come out of BK; many of them have not. Being in business is a PRIVILEDGE not a RIGHT! IF the people in charge cannot render a profit; then let them go by way of the “Buggy Whip!!”

    Get the Congress meetings to stop; NO more bailouts. Either a company makes a profit or they do not! Either price accordingly to be competitive or you don’t. You can stay in business or you will not. Many of these suppliers will be absorbed by the remaining companies being Honda, Toyota or any of the other companies who will still be around.

    Anyone ever study the Fall of Rome? Were they “TOO BIG TO FAIL”! This arguement is total crap! We will be the next to replace Rome and fail if we do not allow the markets to correct themselves!

14. Comment by YouthDriver

    November 18th, 2008 at 7:43 pm

    I have a feeling the big three ?
    wouldn’t fail.

    Abu Dhabi would come in and buy them out firesale.

    Look at Daimler-Chrysler - at one point ? Kuwait was #3 stock holder.

    That one sure opened my eyes, gee, they promote the use of oil AND sell the cars to use it.

    Yes, I get gasoline is refined petro.

    I choose to say petro to keep myself thinking objective, because oil is such a loaded word.

    My point here is I was just saying to someone, gee, so what if US lost it’s automobiles, I was thinking of car salespeople, and it occurred to me that they’ll still be selling cars. Just for GM-Dubai that’s all.

    And ya know ? Hey if the US automakers screwed up stabilizing their own corporations ?

    Let the Japanese or Dubai buy them up.

    Let’s face it, the three auto makers won’t just lose their manufacturing facilities.

    Some other company will come in and use them- just under a different name.

    I don’t see anything wrong with letting failing thinking systems fail.

    Then again, hey, maybe with 25 BILLION, they can figure out how to turn a dime on a $40,000 automobile.

15. Comment by YouthDriver

    November 18th, 2008 at 7:44 pm

    Maybe the oil companies should prop up the auto sector

    oh wait.

    Silly me.

    Let’s think this through though, Saudi Arabia HAS to be saying, wait, we can’t let these three fail - less oil use.

    I bet someone out there is ready to buy if they go down, just to make SURE more GAS burning cars are on the road.

16. Comment by Shawn

    November 18th, 2008 at 7:55 pm

    I watched most of the hearings that were on tv. What I see is collusion fron the auto industry to inject fear. Basically what they are doing is extortion. They refuse to even think about a chapter 11 and threaten a chapter 7. If we need an auto maker in the US and they refuse to file chapter 11 then let them merge into one company and go it on their own. What they really want is for us to foot the high bills of their failures.

17. Comment by YouthDriver

    November 18th, 2008 at 11:20 pm

    And yes Listening in Texas

    Gibbons volume set on history of the Roman Empire is a fine resource !

18. Comment by YouthDriver

    November 18th, 2008 at 11:21 pm

    I have a first edition set, do you ? heh

    ok it’s falling apart.

19. Comment by JollyRancher

    November 18th, 2008 at 11:42 pm

    Now would be an ideal time to bring an end and a change from petro.

    I think it is.

20. Comment by JollyRancher

    November 19th, 2008 at 12:39 am

    I wonder if you and Liz MacDonald were locked in a closet

    what you two might birth !

    heh- ONE - OR both of you go

    WTGDMF

    seriously - I see powerful left and right brain out of MacDonald

    You seem to be utilizing the right brain well the - image-

    as to imagine I mean.

    MacDonald I peg as out of the league of just about anyone on FBN.

    Some I figure at FBN would seek some social event - even interviewing.

    I find MacDonald is able to get the idea out - without it ever being personal - it’s JUST the idea - and you get that from the demeanor on set - ’stage’ -

    I don’t know what water she drinks - but - I can only hope the world heads in the direction of careful listening, reverence to space - AND time - through - it’s not even some phony served up politedness - it’s just requisite to any dialog.

    It does hurt to see someone who IS capable of dialog as MacDonald is - shut down in what can turn into some discussive - percussive - concussive- BREAK apart break down fiasco with 4 windows on the screen with MAYBE at best - a narrator saying ‘ok, everyone stop’.

    I still say - skeleton crew - heh -NOT that it’s not already.

    but - if I had any say Mr. Sullivan - I’d vote you into my favorite FBN opportunists !

    Liz MacDonald, Charles Paine(ayne ? ), MAYBE Alexis Glick -ok, least the effort and - well - that’s just it - I can’t get a lock down that Alexis isn’t using FBN to promote other religious or political views- time will tell - and I won’t discount all other offerings to date -since Monday, she’s VERY much alive in the interviewing process - and that’s a turnaround if you ask me - happy to see it. Oh yeah, hmmm - what’s his name - the older guy ! Winston - no, Wi…. Always on with Cavuto - Jonathon - Jonathon’s sister - okay - maybe not his sister but she looks like him and Wayne -that’s it. - Wayne is #3 I’d say - HANDS DOWN - you can NEVER go wrong with these people- EVER - in any venture….

    Now I cut that hard - but I would say those 3 - and - MAYBE YOU…….!!!!

    the people I think COMMON DENOMINATOR - base line

    are critical to the success of FBN.

    Oddly Cavuto does NOT make it on failing via political.

    I am not always right !

21. Comment by jwa

    November 19th, 2008 at 12:43 am

    feel good at any cost type dont want to discuss facts just what makes them feel good. trickle down is a proven tenet of economics. only when a ruling class keeps money and forces work (super low pay or no pay) does a society fail. let big 3 fail and new inovation will occur. look at congress and you can see who is paying for their re-election. blind leading the too dumb to assess the facts ( sorry they were not taught critical thinking in grade school or high school)

22. Comment by OriginalRolaids

    November 19th, 2008 at 1:47 am

    Another product nearby for nick

    But I do mean to stress this one point -

    I observe you Mr. WhateverYourName is - as it’s skating me - sullivan ?

    I do see a sincere aggressive effort in your presentations.

    I made effort to avoid name reference above, and hopefully non-insinuating anything OTHER than - hope to see what is yet to be revealed as the sort begins.

    I tend to like the 40,000 MILE view - that’s decently past the 23,000 mile steady- orbit realm - I’m armchair astrophysics.

    Now, I DO get the mathematics in setting up the SOHO satellite - equidistant as to gravitational pull from the earth and the sun.

    just google SOHO

    it’s always #1

    then click Live view - sun - every 15 min, unless you’ll learn about CCD burnout -

    call it a bad day on the sun, in fact, what day IS it ? on the sun

    thank god the markets don’t root to Egyptian - and only 1,300 years later to more - augh !

    Now, heh, one person I will give SOME reserve to, and all in all ? I think he’s certainly one of the good guys, Peter Brimelow - SHORT of any rants - in the past - !!! over at MarketWatch - and that’s ONLY after visiting him and his brothers site -

    and then that odd french gold watchers site.

    maybe it was all the same, or a dream - either way -

    but speaking of that, I noticed just checking out the comment on a Brimelow article on MarketWatch - the no longer CBS MarketWatch - I have to make that clear on any mention, but again, I said I don’t have respect for ANY yayhoo over there at MarketWatch, Brimelow is my exception I suppose.

    Comment was on Egyptian, and I can’t help but think of one post in his comments to his last article… on I think it was - oh my - ! oh no ! not agin’ ! a gold rally - forget that issue

    My focus here was on someone who posted ‘gold, if you don’t hold it, you don’t own it’.

    I’m ALWAYS on the side of just wondering what the meteor was like when it hit - on any issues of precious metals

    or crystals - magma - temp - pressure etc. wise.

    Personally ?

    After seeing African workers closer to the earth’s mantle ?

    VERY hot ?

    mines ?

    gold wise-

    and yes I’ll try to stop hitting return, er enter so much.

    THEN Sierra Leone.

    That one deserves a line by itself.

    I don’t think anyone has yet drawn PERFECT analogy to free markets at Sierra Leone

    and the US- then again, until mid sentence there, I’d never thought of it myself - alas the device of writing.

    or playing monologue out ! heh

    then again, FBN doesn’t offer any lateral forums. It’s pretty one dimensional as to comments - here it is - derive cardinality that IS ordinality - meaning - there IS no branch ever OTHER than JUST a post or comment.

    “Here’s the list”

    no temporal sort, search, no reply to - ALL that aside

    I think that’s why I said monologue.

    seeking correspondence on any idea put forth on my behalf, publish this or not, I’ll say is still lacking ability - EASILY DONE from a technological standpoint with experience of just how to do so through software solutions- I just don’t get the lack on that side at FBN. Forget Fox News, I have no idea if they even HAVE feedback in any forum sense, or comments, I don’t expect so. The ONE DAY I checked that, was some day of Gretta going online saying something like “So, let me know what you’re thinking”

    some 400 posts in HOURS.

    so, perhaps that was the first time, I don’t know, either way - FBN is perhaps missing out.

    Yadda so Eugene O’neil goes online at the post, BUT - I did see that and I thought, that’s great - tuned in, I think, not sure, caught the last few lines and a question.

    NOT sure the topic, but why doesn’t FBN sell MacDonald out on that ?

    er, I mean

    uh - 900k EXTRA per quarter or no go

    I hope that’s under there.

    You know though? life isn’t that way - I wager MacDonald is best in positions where opportunity for dialog exists, AND in puts forward whatever is on her intellectual brow.

    And, like so many other people, when there IS dialog ?

    We all learn from this experience.

    Seems simple enough to me.

    No need to even try to sell it.

    If I remember what column this is !

    It’s Mr. Sullivan’s - so I probably would be off to carry on about other FBN - likely - consultants….

    BUT I’ll say this Mr. Sullivan to you too - but I wager IF Liz MacDonald, in fact, I’ll test my group here - Charles, Liz, and yourself -and of course this older fellow Wayne - if ALL of you were lawyers ?

    NOT a question to me - you’d not do pro bono.

    that you’d PROBABLY seek resolution leading towards the truth

    period. really.

    that’s all I want at least.

    but I get that from those people mentioned.

    On the Wayne side ? That IS PERHAPS different, only because - I recall from the very first time I tuned in to a cavuto - I’ll call it a Four by Four - augh!

    but - Wayne rules on you just can’t - NOT derive - this person has a GATEWAY to - contentedness- happiness.

    EASILY left with the kids at the picnic !

    Rove - hmm - stay near Uncle Craig, wait, no, go with Aunt - no, just stay near Wayne.

    Ok, Rove, Jonathon - difference 1/2 quarter dozen crates of margarine.

    I’d go dairy on butter ?

    these days - I’d watch ALL imports.

    nice FDA at least last week said - yo ho ho - stop right there with food imports - let’s check for the newly FDA approved US levels for melamine.

    anyone following that ?

    Europe ?

    said ZERO tolerance.

    I ‘get’ that it’s about liability - but I think we’d all settle for forfeiture on sueing - to just say - Zero tolerance from here on out too.

    beats me how FDA has failed on this.

    I’d even think - EPA on MELAMINE.

    heh

    I suppose 3 lawyers locked in a closet ? for oh ?

    let’s give em 79 hours ?

    they WILL have a base case to go through EPA.

    when they come out.

    They’ll ALSO probably have a pretty intimate understanding of air quality too.

    This is doable folks !

    I can probably get at least two lawyers to participate.

    anyone?

    we don’t have to go David Blaine on this.

    I’m sure they’d want zero media too

23. Comment by OriginalRolaids

    November 19th, 2008 at 1:52 am

    I better make clear

    I DO mean to say

    I BET all four of you WOULD do PRO BONO.

    sheesh, or should I start to learn to just say
    sheik !

    but - I think that was not clear - CERTAINLY meant it as a compliment.

24. Comment by Me

    November 19th, 2008 at 7:27 am

    Yes, 50% of the auto companies problems are self inflicted. But don’t lose sight of the other 50%. Even, Peter Morici, who is notorious for slamming US auto companies, has the sense to discuss the other factors involved. For example, the enormous cost of providing health care to employees is a MAJOR factor. Were the companies at fault for providing it? Some would argue yes. But the real culprit are the insurance companies raking in thousands upon thousands while rejecting claim after claim. The amount of malpractice in this country is inconvceivable. The cost of health care is reprehensible. How are American companies supposed to compete when they are strapped with ridiculous health care costs?

25. Comment by Peter

    November 19th, 2008 at 1:48 pm

    You know, I am one of those folks that bought a GMC Yukon and partly did it because I wanted to buy American (thats right, I actually cared about my hard working fellow Americans). Now, they are coming and asking for more tax money to shore up their pensions. These folks retire in their mid 50s, and I wondering if I can EVER retire or ANYONE that I know can ever retire, let alone in their 50s. They have the gall to ask for money. Wow, just wow.

    We are saddled with 53 trillion in obligations and the people of my generation are not even counting on Social Security, let along some pension. Everyone I know that is in my age bracket (35-45) is stuggling to make ends meet, and these folks again want us to fund their retirements and health benefits. Unbelievable.

    Since they have that attitude where they can work 20-30yrs right out of high school and retire and saddle future generations with more debt, then I will take the attitude and NOT BUY ANY MORE GMCS or FORDS. I will still consider a Chrysler, because he seems to be an honorable CEO. When asked in the Senate hearing, if the CEOs would do like Lee did and accept a 1 salary, he was the only one that firmly said YES. The other two put their heads down and did not answer.

    Thanks alot Unions, you drove your own business model (the hand that feeds you) in the ground while you feel ENTITLED to retiring in the 50s.

    I know ya guys and gals are hard working folks, well guess what, the rest of America is as well. There is not ONE person that I know that does not put in a minimum of 60+ hours a week. MOST families have to have both people work just so we can afford to live because we have such high taxes, and you folks want to add to that.

    Congress always talks about spending more money, when are they ever going to talk about reducing the size of govt and getting rid of some of these obligations that are not self sustaining, so they can help the taxpayer survive.

    I would be in more favor of supporting a bailout if the govt can give me a tit for tat. Ya know, like we do around the family table. If we spend here, then we will cut here. Simple stuff guys. Simple stuff.

    Its a simple formula: Cut the non self-sustaining obligations, cut the size of govt, and lower the taxes and our economy along with govt budgets will do just fine.

26. Comment by Rod Tataryn

    November 20th, 2008 at 5:35 am

    Heaping a greater burden on the taxpayer to prop up a failing business model is perhaps one of the most foolish decisions a government could make.

    Reduce taxes and allow the free market to reward sound business practices and punish waste. That’s the formula for long-term growth and prosperity. It has nothing to do with short-term stability and security. Those concepts are myths, and government efforts to offer them through bailouts paid for by increased taxes or increased national debt is a recipe for long-term suffering and decline.

27. Comment by getreal7

    November 20th, 2008 at 12:57 pm

    I agree Peter. But who’s going to convince the voters of that? Common sense has no place in Washington DC.

    A government big enough to give you everything is big enough to take away everything.

28. Comment by Matt

    November 20th, 2008 at 1:23 pm

    I think it is obvious what is happening. We have gotten to the breaking point of what people can afford with what they make. Here is my point: After so many years of exporting manufacturing to cheap labor countries, the manufacturers got what they wanted, lower manufacturing costs. But every time a job leaves this country without being replaced, wages are driven down as well.

    This started with items that people bought as luxury. Plastic novelty items, kitchen gadgets, video games, you know, wal-mart crap. Now it has slowly happened with all of the stuff that people absolutely have to own. Cars are made in Mexico, Farm labor wages have been driven down by migrant workers, as has housing labor wages. IT jobs have been largly exported to India, Russia, and China. In fact, anything that can be done over the phone is largely exported now, including customer service, collections, billing, product or service ordering. In fact, as I look around here at work, I only see 5 or 6 out of 40 people that I couldn’t replace with a call to an Indian “business solutions” company. Once you export the “workers”, there is little need for middle, and most upper managers.

    Now, in a healthy market, what we are seeing is normal. Jobs leave to cheaper labor, prices go down, and wages go down with the prices. Eventually, we hit an “evening out” point with foreign competition, and things stabilize. Healthy Capitalism.

    But, there is a problem. People have made long term investments in things that they don’t want to see lose value. Things like:

    - 401(k)s that are invested heavily in these failing US companies that are profiting less, because their prices are being driven down.
    - Homes that they have spent 30% of their income on for 20 years that are worth less than when they bought them if inflation is considered.

    So now, people won’t sell their homes for a price that people can afford, because it is less than what they need to justify selling it. This drives home prices up (or at least keeps them flat). And as the wage to cost ratio has gotten worse, investments in things like 401(k)s has fallen, leaving those US companies with less money to work with.

    We have struggled through this for years by going from primarily one income earner homes to primarily two income earner homes. Unfortunately, there isn’t a third income earner to help put out the fire.

    We have reached the breaking point. For us to return to normalcy, we need to accept the fact that home/land prices need to fall. This will give people more income to invest in savings, and keep their homes. I really think that the answer is in the Loan Modification program that the head of the FDIC is proposing.

29. Comment by Hal Slusher

    November 20th, 2008 at 5:24 pm

    Is youthdriver a marxist or what? Enough with your BS. The US government has done to the Automakers what it did to the steel companies it regulated them out of business. Enough said I can imagine buying a car from a government ownes GM and pay 3 million for a car that wont run.

30. Comment by SEA

    November 20th, 2008 at 6:27 pm

    we should limit the comments to 100 words…

    pay attention… Barney Frank, Chris Dodd, Obama… big recipients of the mortgage industry created this global mess by forcing lenders to “lower the bar” and allow people with poor credit to get loans.

    This ignited all the problems we are seeing in ALL the industries. Social handouts have wiped out a decade of growth.

    anyone who thinks people will pay more for a car that is smaller, slower and ugly has not thought the situation thru. I love my V-8… and hope Detroit brings back the styling that set American cars apart in the 60’s!!! Retro, but with power and better fuel efficiency.

31. Comment by Jeff

    November 20th, 2008 at 9:40 pm

    Noticed that big time… Chrysler CEO ready to work for a salary… not so with Ford and GM… I can afford, and have always purchased my cars outright CASH every two years. I own three, we buy one every year in rotation. This year included as well as next. I will NOT be buying a FORD or a GM… Chrysler bank on it. File chapert 11, and get down to business.
    I remember when Lee took Chrysler and a government loan and looked me square in the eye and said find a better car… buy it. Nobody saying that now…Ford and GM why did you not learn in the 70’s most of america did… you listening? You lost HUGE market share then and are in no position to respond now 20 years later. Perhaps you need to structure your long term CEO pay over decades not 1-2- years of results.
    American families plan for a life time…American companies largely don’t.

    -Jeff

32. Comment by Charlie

    November 21st, 2008 at 11:46 am

    All of this is just another way of grabing onto the golden ring. The companies and the UNIONS all just sit back and say if you don’t you are going to be sorry but if you do well just believe us we will make it better.
    I for one say NO, Pelosi and her crowd in DC need to wake up. What does any of thos idiots in the house and senate know about making car or anything else for that matter other than a HUGE MESS. I would like to see the BIG three and the HUGE UAW have to come in with a corporate shake out plan and have someone with a REAL BUSINESS sense review and comment on it. Then let’s go from there. All I can see is endless CORPORATE WELFARE coming.

33. Comment by dale

    November 21st, 2008 at 6:06 pm

    My best answer for the big three auto giant CEO’s, will be to come back for
    the next meeting for a bailout from the govt, would be wise to drive cross country
    in their competors automobiles,like toyotas,accords,etc and by the time they get
    back maybe they will have learned how to build a real car…