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- Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block.
Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.
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Bill
They real problem is that “Sales are down” for the Big 3. They recently admitted to manufacturing more vehicles than they can sell. If we accept that as truth, then the solution would seem be increase sales. The question to be answered is how will 15 or 35 billion tax payer dollars being shifted to the Auto Industry motivate people in the rest of the country to rush out and purchase a new car? The answer; I’m sure it will not. The Big 3 have an image problem with the American people and giving they our tax dollars will not do much to correct the situation. They have debt to repay and a payroll for people doing nothing. They can’t build more cars because they can’t sell what they have already produced! So what is the purpose of the bail out when Chapter 11 would work as well without tax dollars? OR: The Government could just send out $35,000,000,000 to the general public in the form of coupons to be used for the purchase of a new car from the Big 3! PROBLEM SOLVED! :)
Leslie Opp
UAW jobs are no more important than any other job. They need to just shut-up and take it like an adult.
Mike
What I find scary is that we have a congress that somehow feels it knows what is best for the Big 3 and us. A very small percentage of those in congress have any Business experience and are trying to dictate how those companies need to change to make it in this economy. The congress runs a company ( USA ) that is basically bankrupt. They have exorbitant retirement and health packages. Speaker Pelosi fly's around in this large government jet because the small jet just didn't work for her. Didn't they just criticize the Big 3 for the use of private jets. The governments Legacy fund(Social Security) is close to broke and yet they refuse to address that issue. But congress knows how to fix the Big 3's retirement and health care issues ? At the same time we pass out billions of dollars to financial/investment companies with very little restrictions. Now those companies are getting ready to pass out million dollar bonuses and congress is sitting there saying very little. How about we take that money back and try buying up the bad subprime loans and work from the bottom up this time. Banks call in loans all the time when companies to not meet the terms of the loan agreement. Why shouldn't they be held accountable.
Fred
I will agree to a "Bail Out" when these three companies agree to bring back all the jobs they have sent out of the Country back,after all are they not worried about jobs ? Than maybe i could buy a vechile that was truly made in America.I went to a web site this morning to try and find American made furniture,"Good Luck".But there has been a site put up to "BOYCOTT" Alabama because of Sen. Shelby's no vote to the Bail Out as it stands,and i agree with his vote,if Alabama is boycotted,I will have to Boycott the Auto. bailout.
Gale
I fail to see any redemptive value in "bailing out" the "giants" when the arrogance and Union Power obviously has the polititians by the "private parts"(Said in a manner to also include Pelosi) I also fail to understand that with multiple surveys in the past two-three weeks that indicate 70-75% of all of us in the USA DO NOT want to "bail out" the automobile industry, that our "corrupt" polititians will not follow the voters wishes and not do this ridiculous thing. Who or Whom are THEY working for. I always was under the impression that they were there to represent us.......Oh I forgot its who or whom "paid" the most or giving the "promise to pay" is who or whom their represented. Bull Hocky! Let them change their cash flow, honor their obligations, and break the strangle hold that the UAW has on them, just like I and my family has had to do for many months now.
john shaw
the democrats want to save the grossly overpaid union workers with a bailout. this will turn the auto workers into government employees union workers which is what most union worker are now anyway!
Don Jr
Ever been screwed by a Dealer/Salesman. I have every time I buy a car.... Karma's a biatch
Darren
UNIONS-UAW...... They have their hands out for a large majority of our Dem-Dummies in our Legislative Branch. Think about it, when the textile industry was failing in the south, did any Dems jump on board and try to stop the rush to leave the country or bail out the industry. No -- they followed Mr. Bill right down the road to the so called Free Trade. Why? Not enough union hand outs for our congressman to support the failing industry. So while the local textile worker earned one third of what the UAW employee does, Congress turned a blind eye since the poor textile worker could not line the Legislative pockets. So Detroit,, sink or smiw -- get yourself out of your own self created mess.......
Larry
The United Auto Workers should buy Chrysler and prove they can manufacture cars with the best of them and keep their jobs. The employees would own the company and have a vested interest in its success or failure.
Angry_Taxpayer
This is what results from the short term thinking of all involved: In the Detroit 3's case, both management and the shareholders were happy to take the profits from selling trucks and SUV's, and ignore all indications of rising future energy costs, as well as the fact that Toyota has been successfully selling the Prius since what, 2001 ? I believe they could see this coming, and have simply ignored the long term results of their actions, choosing instead to take the profits which resulted from their actions. Same problem with the UAW: they were happy to take home the large paychecks and benefit packages which they and UAW leaders negotiated, while ignoring the fact that other auto manufacturers in the US paid a significantly lower (yet still very attractive, IMO) wages & benefits. If the UAW leaders and members had taken a longer view, they would have seen this disaster coming. Does any UAW member truly believe that the company they work for could survive in the long term when people are paid for sitting around and doing NOTHING ? Again, I believe they could see this coming, and have simply ignored the long term results of their actions. Certainly these are not the only factors in causing this. Government interference at both the state and federal levels have a proven record of failure, and politicians seem unable to take a view that is any longer than their next re-election. Yet, corporations and the UAW contributed large sums to those politicians re-election! As a Michigan resident, I am absolutely terrified to think of what the results of failure of the auto companies will be. But it is well past the time for those involved to accept responsibility for their actions. It is absolutely wrong for those who have taken the profits from their actions to now come to those of us who have not participated in, or profited from, those actions.
Richard
The not-so-Big 3 and the UAW did this to themselves and my already strapped pocket is being asked to help them out? Nope, nada, no way. The UAW put the screws to the companies to earn their sweetheart labor agreements - the "Job Bank" (would be nice to get paid while sitting on my butt being unproductive when not needed), $40/hr or thereabouts to watch a machine screw on lug nuts, CEO's that earn millions for a job that really is more public relations than corporate running, the list continues. I also fault the companies in their fantastic ability to not understand the market and prove that they really can't. I remember when Oldsmobile (now defunct) had sold a car with a diesel engine. The base design for the engine was a gas engine and they did some spotty changes to the engine to make it into a diesel. It was a flop - both in marketing and reliability. I will tell Detroit now that my next car, that I am purchasing next month, will not made here in the US because none of the not-so-Big 3 can market to my desires and that is really what is the killer - they don't make what the people want plus the perceptions of poor quality and reliability are well deserved and brought on themselves by themselves. Maybe they need to visit the mousetrap lesson, AGAIN!
Brian
Sigh . . 1. marginal products + marginal products + miserable experience provided during the sales process = please allow us to use YOUR money to overcome our poor decision making. 2. Honda and Toyota are having no problem making better products, retaining customers and all WITHOUT gov't assistance. Sadly, lots of people (workers, salespeople, etc) are going to lose jobs. But, these same folks (the unionized ones) have had virtually guaranteed jobs their whole lives; something I don't have, most of YOU don't have . . . Why? The UAW. It's legalized extortion. A worker that is not worth one nickel more this year than last, gets a guaranteed raise. Why? Because some smart negotiator says he/she should. Not b/c he/she does a better job. I have to compete for MY job EVERY day. If I don't do it well, make mistakes, don't show up . . I get canned. If I get laid off, I DON'T GET PAID. Period. I don't get to show up anyway, in some "Job Bank" and screw around with my cronies and GET PAID. That's criminal! This is America. NOBODY is entitled to job . . or anything else for that matter! If the union refuses to cooperate and takes their ball and goes home, let them. The workers can then direct their anger where it rightfully belongs; on their own UAW and their employer.
derek
Chapter 11. Redo. No Union, No Mismanagement. Warranty supported by the taxpayer at the expense of the company. Less Government Control. That is exactly what scares the politician. Keep the status quo, alot of the money that was made has been funneled into the political machine.
Roger
Don't give the Automotive Industry a blank check. Instead give a check to the auto buyers, the American Tax payer. Give each taxpayer a $15,000 federal credit voucher that can be applied to the purchase of a vehicle produced by an US automotive manufacturer.It could be used over the next five years. Each taxpayer over 18 would receive a voucher. 100% for a vehicle manufactured by a US manufacturer and reqistered in the US. 33% if vehicle is manufactured in the US 25% for purchase of a used vehicle US manufactured vehicle.
Patrick Norton
How soon we forget the Clintons years. Build more prisons, assisted suicide for the mentally troubled and problematic, forced abortions. Public relations experts and political strategists are on hand to usher in the death knell. Why bail the big three? It is about the bleeping money payback for every yes vote. Just like the Banks bailout; where is the money? NAPA, we cut our own throat? No, but it is soon to come if you become mentally troubled and problematic. Look at the bright side; firearm sales are way up.
Troy
I don't think there is a soul on FBN that understands the Auto Industry. Further FBN continues to ridicule the Big 3 yet doesn't even remotely come close to playing a fair hand with foreign auto companies who are getting all the help they need to ensure their survival. Me thinks FBN would sell out America in a heartbeat for a quick buck. At any rate GM is playing the only card they have, the Bankruptcy Card. In a few hours we'll begin to see if this was a good play.
Joe G.
Where was Congress and the President when the United States started to send American jobs overseas many years ago? Our country used to be self-sustaining. Toys, books, clothes, electronics, and furniture by and large where manufactured domestically. Now all you see is "Made in China, Mexico, Taiwan, Cambodia, Turkey, Bangladesh," and so on. This still happens today. I didn't hear anyone clammoring for the lost jobs back then, or even now for these "forgotten" industries. Only the banking, insurance, and auto industries are getting the "rallying cry" of Congress in 2008. Thanks NAFTA, CAFTA, and all of the predecessors and those to come. Oh, and let's thank the public school system too for making it appear that it was not good enough to work in a factory, that everyone needs a college education. The "higher education industry" is to blame as well. Too much blame to go around. Better burn our society to the ground and start over, because it's too far gone now.
6ftrabbit
Chaos theory. Remember what I sent you.
Karen
Correction, when we put Nafta and not NAPA, and didn't include quotas, instead of put in quotas. To my earlier statement.
Let the big 3 rot
Joseph, You're absolutely right. They will not fail. The airlines go through bankruptcy almost as a regular part of doing business. Let the automakers go through bankruptcy and come out the other side, hopefully, smarter, leaner and more competitive. Bust the unions out of them! No one "owes" you a job or benefits all you Mr. and Mrs. UAW's out there. Unions had their place years and years ago when first created. They are unnecessary now and just run up costs.
Let the big 3 rot
Karen, By NAPA, I take it you mean NAFTA? NAPA is an auto parts store where I'm from.
Karen
Remember, other countries, Japan, etc, have government subsidized automotive industries. We didn't, and we were too busy forgetting that if you don't buy from your own, your own industry fails. Yes, there needs to be changes, but realize our changes are within, not without. I have had all types of foreign and domestic cars. They can be just as good or bad depending on when they were manufactured. I had a Honda that was worse than any Chrysler. I had a GM that was ugly but performed better than the Sentra. I had a Toyota that was wonderful but so was my LeSabre. So don't tell me cars from oversees are better. That is a farce, manufacturing always has issues in every industry. So if you like a car buy it, but don't think it is better than another, unless of course you buy the handmade cars. In my opinion, when we opened up the borders and put in quotas during NAPA, we cut our own throat which was told to us by Peirot, and look what happened. Also, try reading the world is flat and then talk to me about global business.
chuck
Brian there hasn't been a day that Ed Schultz of the Ed Schultz Show of Fargo,ND on his talk radio show has been attacking those here in Southeast all becouse us Southners have forigm car manufactors with working business models. Now Ed,whose a big supporter of President Elect Obama, has been calling Senator Shelby of Alabama and other conservative senators who have companies like Nissan,Toyota and Mercendes; he's been labeling them UNAMERERICAN.Schultz is trying to label Republicans who oppose this auto bailout as anti-working folk which isn;t true. I'd like to see Ed Schultz get called on this becouse he's been attacking the southeast trying to defend the Unions. Remind u Ed Schultz walked off of Fox News once before. But to insult the SouthEastern states all becouse they wanted to locate to a better working envoirment is so stupid.
Karen
As a person who grew up in Detroit, Michigan, I have personally worked for and with the automotive headquarters of each of the three. I have also worked as a consultant across the country for other industries, finance, IT and retail. When the big three have to close plants, for each division, that closes, about 11 other companies close. The tentacles of the Big Three extend far and wide. They have led the country in industry and business creation for decades, including using state of the art technology, that helped to make many other companies very rich. We, in Michigan could tell the rest of the country the state of the economy through the sells of new cars. The recession (depression) we are in currently hit automotive first. We go through layoffs the minute the economy drops, and as soon as it starts to recover, jobs are created. I haven't noticed another industry that has had to float on the waves of economic changes as quickly as automotive. These companies have made some very bad decisions about how to proceed in cost effective efforts. But in all fairness, so have many of us individuals, hence, decisions on purchasing houses. As a measure, the automotive employees are higher paid than many other industries, and the unions had a lot to do with that. Unions were necessary at one time, they to have to learn to modify as the times have changed, which they haven't done well at either. But like a boat in a storm, they can't turn on a dime. Many of these other industries would not be in trouble if the automotive industry wasn't in trouble. Automotive employees love to buy stuff. Wasn't it the great migration north to get automotive jobs true much longer than any other industry in modern times? I would suggest to all of us to be careful saying one industry is better or worse than another, in this small world we live in, it is apparent that what happens or doesn't happen to one group of people, directly and indirectly effects everyone. However, the statement, was made many years ago that says "When GM is having troubles, the country is in trouble". Still seems to hold true today.
Let the big 3 rot
Michae, Let me guess, you work in the auto industry. This is definitely political. The politicians are trying to keep the unions happy because the unions fund their democratic campaigns and that's the bottom line. Admit it man! Let the Big 3 rot.