Bailout - I am NOT a GM Employee or Union Member

[FenwickHockey65]

Originally Posted by Uzzy

Oh, you mean that bailout (loan) that Senate has decided to not even vote on now?

Anyone know how to say "**** my Life" in Japanese?

Google Language Tools says ファック私の人生.

[Uzzy]

Originally Posted by FenwickHockey65

Google Language Tools says ファック私の人生.

Crap! I can't draw. That's why I went into Electronic Engineering.

[Firebird00]

I vote yes, however only under the condition that all top executives and the board of directors must resign as well as serious strings be attached to use of the money.

[t-rex]

I'm supporting it, but supporting GM least of all. Much of Chrysler's woes stem from the company being ruined by Germans (big surprise there), and Ford seem to be busting their butts to get things straight.

Meanwhile GM's gliding along with its time-warp cruise control stuck in 1965...

Ethically, I'd only bail out Ford and Chrysler, and let GM fail. Giving money to GM is a waste. Throw 'em 25 billion and NOTHING IS GOING TO CHANGE. As long as the company's run the way it is, and run by who is running it, GM will get zero cheers from me.

But a bailout seems to be the lesser of two evils, so at least for the purposes of this poll, I'll vote yes.

[Archangel]

Even though GM probably "deserves" to be in this situation, the progress they have made in management of resources, quality, design, fuel-efficiency, performance, tech innovations, etc. are more than enough reasons to give them a chance.

[keywestwillie]

I am for a loan under the following conditions;

Government takes temporary receivership of GM and appoints Mitt Romney to run the company as it enters into bankruptcy. Government would be a silent partner for
guarantee purposes only so that customers are protected. All top level management and the board of directors would be gone.

As GM enters bankruptcy the government line of credit would enable GM to operate as
usual.

Reorganize without the union if need be but prefer to work with them to get costs in
line with the imports. Dealer ranks would be thinned out so that they too can make a profit. Brands would be dropped. Product refined.

As a leaner GM emerges from bankruptcy the government would back out and leave
only to collect repayments back to the general fund.

Bankruptcy is the key but has to be managed as such that the consumer does not run away from GM. Marketing would have to step up here to get the message out with
the government.

The union is a vital part in this as they paid for OBama's election and the new administration will not break them.

[Diesel/_]

Originally Posted by XP300

It's time for GM (Ford and Chrysler too) to go into Chapter 11 and reorganize. It's the only way.

I wholeheartedly agree. GM's arrogant CEOs need to be scrapped,
and they need to get the UAW off of their back.

And also-America is a country of innovation, and I'm confident
that we will find a way to get through this, and I don't think
that we will become a "Second tier" nation, America isn't
a fad, it's ongoing, and there are constantly new innovators
out there.

I really think that the bailout will just delay GM's bankruptcy,
so you may as well take the band aid off now, and it will
hurt less. Think about those air liners that have gone through
bankruptcy and come out stronger.

[civilzues]

so this is how America is going down the drain, they bail out the banks for bad decisions made in the past 5 years and the auto's after trying to make thing right the past 10 years are NOT gettting a loan from the gov't. That makes NO SENSE what so ever.

[Ming]

Originally Posted by 96_impala_ss

Such as?

A bold new plan and direction for GM, laid out for all to see, fundamental changes in the business model, and a change in management.

No more letting Rick & Co. skate by with the same "wait a year for the turnaround" promises, pretending to make big changes with what amounts to simple focus changes - for example from big BOF SUVs to huge, equally profitable but only moderately less guzzling crossovers (Lambdas).

People are free to disagree with this, of course, but I think Mr. Wagoner and Mr. Lutz need to step down for an infusion of young blood and new ideas.

[PRO_USA1776]

Can the poll be re-written? it is a loan not a bailout. Besides if the Congress wants market forces to decide who wins or loses, why then is Asia allowed to manipulate currency? Just thought I would ask!

[D C]

It's not a bailout, it's a LOAN

[Bravada]

I do believe this might be the only occasion to completely oust GM's (as well as the other two's) incompetent management and the boards that appointed them, so this might be beneficial in the long run. I do believe GM is inherently inefficient, so it is not that they would've been fine if not for the credit crunch. In economic terms, GM should fail - but if it is to be spared, it needs to be made inherently efficient, not just lent a lease of life for another few years (or even months).

It would be the first time for me to admit it, but it looks like Ford is structurally much stronger now, so it is possible for GM to be too.

[Flyingbunnys]

Well I said no. We don't have sufficient evidence that it would be bad to let them sink. It might actually be better for them, If they can't control what they have now let em sink, or at least let on of them sink. If we find that letting one sink was bad then oh well we learned. It seems from what I hear though is that Ford doesn't even really needed it, sure they are burning cash like mad to restructure but they have a lot of it. Plus it seems Ford has a good CEO guiding them. Even if they don't get the loan my guess is that at least Ford will survive, and one is all we need for them to regrow. BTW we lost our TV companies in the 80's and well we got one back, no dell and hp don't count they just hire another company to put together a TV to sell under their name.

[Buick Riviera]

Originally Posted by Flyingbunnys

Well I said no. We don't have sufficient evidence that it would be bad to let them sink. It might actually be better for them, If they can't control what they have now let em sink, or at least let on of them sink. If we find that letting one sink was bad then oh well we learned. It seems from what I hear though is that Ford doesn't even really needed it, sure they are burning cash like mad to restructure but they have a lot of it. Plus it seems Ford has a good CEO guiding them. Even if they don't get the loan my guess is that at least Ford will survive, and one is all we need for them to regrow. BTW we lost our TV companies in the 80's and well we got one back, no dell and hp don't count they just hire another company to put together a TV to sell under their name.

Gm's two problems are GMAC and not able too retool fast enought.

[2002 Caddy]

Originally Posted by Ming

I support it, but with serious conditions and strings attached.

I can not support the bailout if it leaves Rick in charge...

If we could get a bailout AND it forced Rick to leave without severance, and surrendering all of his stock options, pension, etc. THEN I could support a bailout.