US Auto Bailout Bill fails!

[vern]

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@cottonmouth ... sources?

[cottonmouth]

@cottonmouth ... sources?

Oh OK.

First paragraph, it was my own opinion and the name General Ford Chrysler is my own suggestion.

The thing about the UAW salary, it was all over the news after the US congressional inquiry. I'll try to give some links if I can fine one again.

3rd par. theory about Mustang and other US cars is an assumption that's why I use "probably". Coz, it is a known fact that live rear axle is cheaper to produce than double-A or macpherson stut suspensions like what the Euro and Jap cars are using.

[GarFIELD69]

It is estimated that the total job losses would reach to 2.5million if GM failed and 3.5million if all three auto companies went out of business in 2009. That would be catastrophic. Even though only 239,000 work for GM but the ripples of failure to others business dependent to GM is sizable. They say that 1 manufacturing job will create another 6 outside the industry.

But thats the long term problem, the more pressing problem they have right now is that they are at risk of running out of money this month. And, di pud sila ganahan mangutang.

The US government really needs to save this industry, but they also need to do it right.

[EZRA]

Question - what will a bailout do? When credit is tight and people are trying to be smart with their money - wouldn't the bailout money just go down the drain?

[GarFIELD69]

That is the tricky part and that is precisely the reason why the bailout plan is delayed. They want it to work, they want it to be feasible. Mura ba mi inject ang government ug additional capital sa company on the premise that the company would let go of their bad habits, i.e. high labor cost and relatively high production cost.

I also think they want the UAW to be dropped. Sink or swim.

[EZRA]

They also know that no matter what type of bailout program they're gonna put out, it's still not going to work with today's economy. The big three is requesting a mere fraction of what the FED has given out to the Financial Industry (just a comparison) - pero even at that, they're not willing to approve the bailout. Fact is, Congress knows that they will just be giving money away - it's a losing investment no matter how you look at it. Ang naka pait lang gyud, there's a lot of jobs that needs to be saved.

[Jediknight]

I think this will not save the US auto industry, ever since losing naman sila....the japs are doing better!

[ian_1983]

One good reason why LEAR Automotive in Cebu is retrenching over 100 workers..

[gnox]

Detroit is not the only one affected of the auto-industry downfall.
US is affected and the rest of the world. I hope things will get better.

[batigol192002]

Daghan nang mga american's nga wa nay salig aning mga sakyanan sa the big three.