Chrysler and GM

[nero]

I'd like to hear what You think about these 2 big companies getting government funds to survive. Do you think they should be allowed to fail ?
If they survive, what products will they be producing 2 years from now ?
What kind of cars do you forsee coming out of this ?

[i_broke_down]

I don't foresee a giant change in the companies. In the case of GM I wouldn't even really be that much against letting it fail.

I wish the stimulus package was aimed more at creating the framework for better cars. Right now we have a bit of a chicken & egg problem when it comes to technologies like hydrogen and even electric cars to a lesser extent. If a majority of the stimulus money was spent on creating that infrastructure then I think it would have be a lot better spent. It would create long term self sustainable jobs along with slowing the rate at which our money is flowing into places like Dubai.

Kinda like the highway systems that were created during the world wars. Those are the kinda projects we should be working on.

[nycstripes]

If they allowed themselves to be put into Chapter 11, they could have been restructured including re-negotiating the massive union perks that cost them so much to operate and stayed in business. Giving them massive amounts of tax payer money and watching go under anyway just pisses me off.
I am not saying that management is free of guilt in this, they would be scrutinized just as much as the labor in Chapter 11 re-structuring. They'd still be an operating company though.

[GAMBLER]

either way... we're all ****ed.

it's my new mantra.

[Baasinator]

Originally Posted by GAMBLER

either way... we're all ****ed.

it's my new mantra.

That's a sweet mantra.

I'm against any of our public money going to support failing companies, but that hardly matters anymore. What I find hilarious is the sheer hypocrisy of those in Washington. The guys who voted for TARP like $850B means nothing are the same guys who raked the car execs over the coals when they showed up and asked for a combined $25B or so.

We gave Goldman Sachs $10B and they promptly wrote $10B in bonus checks to their employees, and nobody cared about that! They didn't even have to give up a corporate jet and take a car ride to Washington to ask us for their bonus money. A month later GM asks for $10B to stay afloat for a couple months and it's like they are asking for the moon.