Quote:
Originally Posted by dude1394
So the Big 3 automakers bailout has been in the news lately. I was talking to a buddy yesterday and he said that the first 43% of a 25billion bailout would go to retirees...right off the top. Very little if any in investment or anything to keep them competitive...just helping them pay the bills for a little longer.
Their business model seems untenable..their workers make almost 2x other comparable workers and they cannot make money on anything but larger and pricier autos...even though their competition here in the states can.
I'm thinking this is not an investment worth making. I think that union needs a bust-up.
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Mitt Romney agrees with you 100%. His Dad used to build cars (American Motors). Anyway, I haven't read past your original thread starter and maybe I am repeating info.
Link:
http://swampland.blogs.time.com/2008...rss-topstories
Buchannon on the other hand thinks we have to bail out the Big 3:
Link:
http://www.humanevents.com/article.php?id=29531
I tend to agree with Romney. Managed bancruptcy with Federal assistance to guarantee a sound start up is necessary. No matter if you love unions and similar structures, they have to die in the auto industry to compete with Toyota, Honda, etc.