Posted by ChuckMi on November 21, 2008 at 06:25:17 from (12.41.112.201):
In Reply to: BIG THREE BAILOUT !!!! posted by bodid1998 on November 20, 2008 at 17:02:34:
I have lived in the Detroit area all my life. I've seen countless mistakes, most notably staring with Ford's Jack Nasser. Instead of investing in future programs, he bought junk yards and muffler shops, squandering billions. I could go on about how the auto industry became distracted from the primary goal of building a high quality vehicle which the public wanted and could afford.
Now the industry is in the so called perfect storm, with no credit available, a looming recession, and high gas prices thanks to our very profitable friends at big oil. The Big Three needs to borrow some of the money they and their workers paid out in taxes to Washington so they can remain as the last large manufacturing industry. Regardless of how we got to this point, they need to stay in business or the $25B will be nothing compared to the billions lost in jobs and revenue. Yes, some fat cats will probably get money they don't deserve, but think of the families across America who make or transport parts, own small businesses, or in some way are connected to the industry. When they lose their jobs they will no longer be paying taxes, but rather collecting assistance.
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