about this blog
- 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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marsh
A CAR CZAR?? Let them struggle and fail or succeed on their own merits. Where were all of you when other industry jobs were being shipped overseas? How many of you continued to shop at Walmart buying "non-American" made goods. Where were you when the people whose jobs were being shipped offshore ask for support by buying American? Buying the CHEAPER foreign goods? The buyers included union members and leaders in addition to the average citizen. It all depended upon whose ox was being gored. Now it is "Help me, Help Me, The sky is falling" It is not! Declare bankruptcy, reorganize, endure a little pain and emerge stronger or not at all. Do it on your dime, not mine!! Everyone has the opportunity to make bad decisions, but the ramifications of those decisions are part of the freedom to make them. And Michae, calling people who express a viewpoint other than yours Idiots demonstrates the inability of the name caller to understand and consider complex concepts!!
Ward
Please!!! The government is not a capable market participant. Let the companies file chapter 11. Then real CEOs using their own money (or smart investors money) can buy up the companies and return them to their former glory. The big 3 have the worst business model ever. Finally, why is the senate not passing this but has let the fed give trillons to the the financial sector? How is one bailout ok and the other not ok? We need to hold a trail and put the Hank and the rest in prison. Where they belonged. PS: it looks like the financial sector gave more contributions than the car sector. Sorry big 3 50 million in contributions was not enough.
Jack
Does anyone suspect there are massive layoffs planned by the auto companies anyway? Layoffs by suppliers? Aftermarket companies, like parts stores? I keep reading all this speak about this "economic doomsday" which will occur if they don't get their money. Check it out. Look at the sales numbers and inventories. Peoples ability to borrow and spend. (cars or otherwise) Production has to come down. People aren't buying. (or can't--no job) Point is, I suspect the auto and aftermarket companies are already there. Money or no, they will have no choice but to eliminate jobs. This process is part of what is referred to as "Capitalism". This country will have to deal with it, but should not do so with Government intervention.
Adam
The Forgotten Man When person a and b think there is an injustice to person c and pass laws to give money or other perks to person c, they often forget about person d. Person d is the man/women working hard, paying their bills, and keeping a balanced budget. Person d is the real victim when person a and b decide to take person's d money to give to person c.
scotty
I realize that if the big 3 go under it will have a ripple effect any company closing its doors would however we are talking about bankrupcy not actually closing their doors. I don't believe that people will not buy an car from a company in bankrupcy, the issue would be lowering the price to induce buyers which means lowering cost, specifically labor cost. Next if the companies that provide parts or services to one of the big 3 cannot adjust to the market and secure contracts to other manufacturers then they too should enter bankruptcy and fire their CEO's. One question I have is that Toyota and Honda have plants here in the US making cars are we going to bail them out too since the auto industry can't fail or are we only bailing out the UAW since they are democrat supporters.
conrad prince
I say do not bail them out. They make the vehicals so complicated you can not fix them. It costs $500 to have my spark plugs changed on a 2000 oldsmobile silouette van.I owned a chevy sprint it got 62 miles per gallon. They quite making them.They make cosmetic changes and charge more.They could be making a better product, more reliable, easier to fix, keep it the same unless they have a real improvment,charge less when their overhead costs drop by not changing how the vehicle is made unless for a real reason.
iuindiana
If/when GM or Chrysler goes bankrupt do all Chevys or Plymouths on the highways stop working? I doubt it. If/when GM or Chrysler goes bankrupt will those brands of cars never need repair parts or someone to install them? I doubt it, garages and mechanics will be necessary. If/when GM or Chrysler goes bankrupt, will people that own them suddenly have to walk everywhere? I doubt it, so we will still need roads maintained or built. If/when GM or Chrysler goes bankrupt, will people buy other brands? Perhaps, but new cars will be manufactured by someone most likely in the US paying US workers who live in the US economy.
Chris
Amen! If they bailout the auto workers then they had better well grandfather in all those that lost their jobs so far (and who will in the near future as a result of this mess). Auto workers are no different than the rest of us (to include all the "branches" that support them). The fact is that the products they sell are high-priced "discretionary" items. I don't "need" a new car, but I do "need" food, water, shelter.
scott
If god comes back he will want to drive a large suv,not a little inport car.Please help the big 3.
Ken
Let them fail, the jobs are going to be lost any way. If they can not compete, they do not need to be in business. THAT IS THE AMERICAN WAY!
Mo Voter
Apparently UAW members actually beleive the BS the union has been feeding them for decades. They are NOT more important than others, and are considerably LESS important than many. I will NEVER buy another union made vehicle, the behavior of UAW members has made sure of that. The total arrogance of the UAW and it's members is almost unbelieveable. For people who are not educated and are not using a skill you are WAY overcompensated. If all three go out of business forever the country will survive and so will most of the associated businesses. I was 100% against the financial industry bail outs, and mortgage bailouts, and I'm 100% against a UAW/GM/Ford/Chrysler bailout too. Let bad companies fail, and let deadbeat individuals fail too. The country will be stronger in the end.
Mike - Atlanta GA
Socialism does not and will not work!
Mike - Atlanta GA
Socialism does not work and will not work!
Mike - Atlanta GA
Socialism does not work! As the left charges down that road we are headed for disaster!
Joseph
I am fascinated by the comment that starts "You Idiot". The best attack on another seems to still be dismiss their thoughts and start with a derogatory remark. By the way, there is no possibility 3 million auto worker jobs will be lost. Ford is not going out of business nor are the non Big 3 automakers plants in the US disappearing. Even if GM did declare bankruptcy that doesn not mean they would cease to exist. Obviously losses within the auto industry would occur (and will regardless of the final solution) and times harder but it won't be scorched earth. I suppose someone will now me an idiot - guess I will be be in good company.
Richard Armstrong
Let's just say for arguements sake that a massive tax-payer crippling bailout is just poured into the Big 3. What exactly do the dreamers think is going to happen? Does anyone really think that anything will actually change for the better in Detroit? Stop talking about morality or 3 million jobs or Buy American or free trade or any of the other points designed to confuse the real issue. Detroit has proven for over twenty years that it is incapable of producing cars that can compete with foreign cars. Unless you can change Detroit - no amount of money will work except to delay the inevitable collapse of the currently structured rat's nest that is Detroit.
tylerite3124
Toyota and GM sold the same number of cars last year worldwide. GM lost billions and Toyota earned billions. Which company gets it when it comes to building and selling cars? GM needs to declare bankruptcy and rebuild by getting their costs in line with Toyota. The GM business model is dead!
Sal`
I say help the big three. Save the jobs of the dealers, mechanics, parts store, suppliers and also have them commit to bring back jobs that they have outsourced. Have our money help them bring back the jobs that they let go to other countries. Have the big ceo's of all the company's get a pay cut they aren't worth what they are getting paid, their companies are falling not growing. Or let them go bankrupted for making cheap and worthless cars, and maybe they will come out stronger.
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.
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.
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
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.
Let the big 3 rot
Karen, By NAPA, I take it you mean NAFTA? NAPA is an auto parts store where I'm from.
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.
Karen
Correction, when we put Nafta and not NAPA, and didn't include quotas, instead of put in quotas. To my earlier statement.