In this case I hope the UAW stands its ground, forcing the automakers into bankruptcy. Then, perhaps all contracts with the UAW can be declared null and void, putting an end to the UAW.
Can you imagine where the electronics and technology sector would be today if they had to deal with the likes of the UAW? Instead of cell phones, we would still be using phone booths at a charge of $3/minute! Instead of what we have in personal computers, the regional data centers would be thriving! Unions, IMO, outlived their usefulness years ago. The majority of them are greedy, causing more harm than good.
Tonight, the Senate rightfully rejected the $14B bailout for the automakers because the UAW refused to accept pay cuts until the end of their current contract, in 2011. I'm sure they hope that by then, everything will be much better and no pay cuts will be necessary. What's wrong with the UAW accepting salary and benefits equal to employees of other automakers in the USA? See this article for a list and description of other, better autos that are built in the USA. Autoworkers, save your jobs! Tell the UAW to back off and not be so greedy!
Majority Leader Harry Reid said, "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."
Too bad! I also have money and retirement funds tied up in stocks. But, it's time we get our fiscal house in order and stop printing money that is backed by nothing more than more debt!
"Congressional Republicans were already in open revolt against Bush over an auto bailout deal the White House negotiated with congressional Democrats, passed by the House on Wednesday."
George W. Bush - A RINO if I've ever seen one! I don't know why the liberal democrats are so against Bush, as he's proven himself more of a liberal than a conservative in more ways than one. A true conservative wouldn't back the things GWB has, including amnesty for illegal aliens. If liberals don't like GWB, just wait until they get a taste of BHO!
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The Constitution Party advocates a platform that purports to reflect the Founding Fathers' original intent of the U.S. Constitution, principles found in the U.S. Declaration of Independence, and morals taken from the Bible.
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Smokin' Obama
"...perhaps the government should consider lifting the ban on smoking in federal buildings. After all, the White House is a federal building. You wouldn't want for our leader to have to suffer the indignity of sneaking out the back door just to grab a quick smoke, would you?"
Obama & Wright
Birds of a feather flock together!
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RINO GWB is preparing to do it, again - spend more taxpayer money, against the will of the people.
White House considers help for car makers
"Worried about the weakening economy, the Bush administration said it was ready to step in and prevent the U.S. auto industry from collapsing after the Senate refused to pass a rescue bill endorsed by President George W. Bush and congressional Democrats."
What good is it going to do for these auto manufacturers to produce cars if no one can/will buy them? It's time for a major overhaul of the U.S. auto industry. They need to be unshackled from the archaic unions and allowed to be more innovative and competitive. An organized bankruptcy may just be the medicine they need to take in order to heal. Better cars and trucks than those from the Big 3 are being built here in America for Toyota, Honda, and others, at lower costs. If GM, Ford & Chrysler cannot compete with their current business model, it should change - voluntarily or by force.
"About $15 billion from the first half of the $700 billion financial bailout remains uncommitted." Is this coincidence or was it purposely planned? Do you, like me, find it interesting that there just happens to be $15 billion available, which is exactly the amount that is being considered for the first infusion into the auto industry?
Politicians and Unions are as greedy as anyone else.
Interesting topic on the UAW
The issue is not really the UAW or
the big 3's ability to manufacture
good cars. The krux of the issue is Wall Street and the pressure they bare on "Public Companies"
If the big3 were private companies
they would not have to meet rating
agency expectations, they would not have to worry about investors whining that they were getting a good return on their investment.
While its convienent to tout the UAW as the problem the UAW is there
to protect the worker similar to unions that protect the coal miners etc. Europe is highly unionized and you dont see press releases about unions been the problem "ever"
I dis-agree that the big 3 cant make great autos. Any doubt go here!
http://www.chevrolet.com/camaro/
Other issues are the likes of Toyota which have plants in the US
that undermine the US economy. Sure
they create some local jobs. But where does the money go. Right back to "Japan"
So the fox is in the hen house !!
Think about it.
Full disclosure - My wife currently drives a 2007 Honda CR-V EX-L, an absolutely great car. I drive a 2000 Dodge Ram 4x4 Club Cab pickup, and absolutely love it.
While I don't disagree that the Big 3 can build good cars and trucks, the quality of most of them simply does not match what can be gotten from Honda and Toyota, usually for less money. Also, their offerings simply are not what the majority of Americans are currently looking for. Granted, if I were in the market for a muscle car, the Camaro would be near the top of my list. But, I'm not...
"The krux [sic] of the issue is Wall Street and the pressure they bare [sic] on "Public Companies""
Really? I wonder how it is that the thousands of other "Public Companies" seem to manage without federal bailouts? I really don't think being public or private has that much influence over how well a company is run.
"If the big3 were private companies they would not have to..."
I remind you that Chrysler is privately held and not a public company. When it was public, it had a previous bailout from the federal government, back in the 1979-80 time-frame. During the 1980's, under the guidance of Lee Iacocca (who came from Ford, BTW), it restructured itself and paid off the government guaranteed loans. I was against the bailout (loan guarantees) but happy to see them get turned around. But, less than 20 years later, in 1998, Chrysler finds itself in trouble again and ends up being sold to Daimler. This marriage lasted for nine years, until Daimler sold 80.1% of its Chrysler holdings to Cerberus Capital Management, in 2007. At that time, Chrysler picked up Robert Nardelli as Chairman and CEO. This is the same guy that just about ruined Home Depot, IMO. I have zero confidence in him - he's no Lee Iacocca! Now, Chrysler is back at the federal feed trough, again. Although I would hate to see the Dodge trucks go away (in fact, I think Chrysler builds better cars and trucks than the other two), they have a poor record of showing that they can stand on their own. I fault management and the unions, not the workers, for most of these problems. It would take a total change of management and the removal of the unions get my support for giving them more help.
IMO, GMC should simply be parted out and sold off or totally restructured.
Ford may be the only one of the three that make it, bailouts or no.
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