Maine's congressional delegation is being pressured to back a bailout for the auto industry.

The percentage of retards in Maine is high. Thank God we represent such a small portion of the countries population.

Unless Congres bails evry business and "American Citizen" out they will face lawsuits claiming unequal treatment. Additionnally, Auto workers making $70.+ per hour is such a rip off to the American consumer! Further, its time for Americans to get back to work, at a fair livable wage, and ALL illegal aliens to go home! As for oil producer, they had better keep oil prices low or they will be going back to riding camels and living in tents!

Wow, nice poll outcome, let's let the Unionized midwest collapse. After that, we can expect BIW to lose its subsidies (all contracts are US Navy). Fools.

Toyota takeover could save GM

http://www.truthdig.com/report/item/20081205_a_toyota_takeover_could_save_gm/

Whatever happened to letting market forces dictate winners and losers? No bailout. GM, FORD, and Chrysler used a business plan for years that does not appear to be working today. Like everyone else they should go through the bankruptcy process; downsize and restructure the respective companies. This would include selling their corporate jets, changing their pay scale to modest salaries, and learning to sell cars that people want. Old fashion supply and demand.

If the debt in each one of these organizations exceeds the assets then organizations will be forced to close. This would mean that market forces are asking these companies to leave the market. A true loser. There will be other companies that are smaller that will pick up where these companies left off. Even perhaps Toyota or Honda. There may even be a newer companies that will come into the market.

The govenment could be effective by providing economic relief to those workers in these aging industries; provide training and retooling programs, providing relief and help to those affected by the outcome of these mismanged industries.

I think we need to take a hands off approach and allow our markets to tell us what the country as a whole is asking. A bailout is just an extension of an inevitable collapse at some later point some time in the future.

If we bail out the auto manufacturers, where does it end? Critics of this attitude point to the financial sector bailout as a precedent, but there is something critically important about preserving the integrity of something that is critically important to everyone: money. People can live without cars but not without money.

We need to stop printing money! That is what causes inflation. What ever happened to The Gold Standard? We are digging our own hole, and the
governmental idiots are assisting. Fire the whole bunch and start over!

I just drove by my local Circuit City - the lights were on and cars were in the parking lot - and they are in bankruptcy. Let the auto manufacturers go through the bankruptcy process and reorganize themselves. That's what the bankruptcy statutes were designed for.

We cannot afford to accelerate the momentum towards full-fledged depression that allowing the auto manufacturers to go under would mean.

Ford is already an excellent manufacturer with top quality products. Chrysler is close on their heels. GM needs to eliminate brands and streamline their operations. (National single-payer health coverage would go a long way towards putting our manufacturing section on an equal footing with others!)

It's not just the big three themselves, it is all of the suppliers and the suppliers to the suppliers. Get real. We will not survive a crash of that magnitude. Moreover, if we lose our industrial capacity, we may never get it back. At some point, someone has to actually MAKE PRODUCTS that people buy, not simply move money around and call it "productivity."

Here's why they they shouldn't be bailed out.

A MODERN PARABLE ...

A Japanese company (Toyota) and an American company (Ford) decided to have a canoe race on the Missouri River.
Both teams practiced long and hard to reach their peak performance before the race.
On the big day, the Japanese won by a mile.
The Americans, very discouraged and depressed, decided to investigate the reason for the crushing defeat. A management team made up of senior management was formed to investigate and recommend appropriate action.
Their conclusion was the Japanese had 8 people rowing and 1 person steering, while the American team had 8 people steering and 1 person rowing.
Feeling a deeper study was in order, American management hired a consulting company and paid them a large amount of money for a second opinion.
They advised, of course, too many people were steering the boat, while not enough people were rowing.
Not sure of how to utilize that information, but wanting to prevent another loss to the Japanese, the rowing team's management structure was totally reorganized to 4 steering supervisors, 3 area steering superintendents, and 1 assistant superintendent steering manager. They also implemented a new performance system that would give the 1 person rowing the boat greater incentive to work harder.
It was called the 'Rowing Team Quality First Program,' with meetings, dinners, and free pens for the rower. There was discussion of getting new paddles, canoes, and other equipment, extra vacation days for practices and bonuses.
The next year the Japanese won by two miles.
Humiliated, the American management laid off the rower for poor performance, halted development of a new canoe, sold the paddles, and canceled all capital investments for new equipment. The money saved was distributed to the Senior Executives as bonuses and
the next year's racing team was out-sourced to India.
The End.
Here's something else to think about:
Ford spent the last 30 years moving all its factories out of the US, claiming they can't make money paying American wages.
TOYOTA spent the last 30 years building more than a dozen plants inside the US. The last quarter's results:
TOYOTA made 4 billion in profits while Ford racked up 9 billion in losses.
Ford folks are still scratching their heads...
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IF THIS WEREN'T TRUE, IT MIGHT BE FUNNY...

Janet,

Entering into the bankruptcy process is not the same as "going under".

Why should we help these companies? No one bailed me out when trying to buy a house no one gave me the money to buy it. So why should I was more of MY money to help these companies they got themselves into it they can find a way out just like the rest of us. And thanks to their lousy practices the market is in the shape it's in same thing with the lenders and they got bailed out. No one's going to help me. I say screw them let them suffer like the rest of us. No one will help us. Sure I'm in debt like everyone else but I'm not crying about it I'm bailing my own self out. I have no sympathy for anyone who will loose their jobs if they go under they should have moved on to other employment now it's too late. I say if they're going to tax someone then make the people who have the most money, but who are the least deserving of it. Examples: Singers, TV personalities, Film stars, Professional athletes, Investors, bankers, CEOs, Executives. In other words tax the rich people. It's about time they paid their dues. They make their money off of us and are the only ones going around with loads of money in the current economy (while we’re suffering), and it's time they gave back to the communities. Tax them to oblivion and back and leave the working classes alone.

If we let GM go into chapter 11 it will cost the government up to $20 bn and take two years and we will end up with a company half its current size and a real risk that the lose of jobs throughout the economy will make the recession much worse.
If we let GM go into prepackaged bankruptcy, it will cost the government more like $10 bn take 3 months and we will end up with a company half the size and a significant risk of worsening the recession and it may be impossible to accomplish.
If we let GM go into Chapter 7 bankrupty it will cost the government up to $300 bn and we will end up with no company and a loss of jobs (not all) that guarantees a much worse recession and do severe harm to its workers, retirees, and their communities..
The $70 figure is not what union workers at GM make, its total labor costs (including management and retires) divided by number of current workers. New union employees make about $27 including benefits and older workers make about $63. Why $63. Because GM workers are highly productive and very automated. Labor costs are around 10% where most companies spend 30-70% for labor. Toyota pays workers $25/hr ($GM 28) with benefits of 22/hr or a total of $47/hr. $17/hr of GM cost come from health care benefits to 442,000 retirees. Toyota has 371 retirees.
What about the gold standard. We gave it up because it doesn't work except to force depressions every few years.
The market doesn't decide winners and losers. Markets simply don't work as we are seeing now with the credit markets. If you're a significant corporation whether you win or lose is determined by politics.

Re: Jonathan Albrecht's Socialistic blurb: I would advise him and all other readers of this blog to view the following: It will open your eyes !! Pay strict attention to what the commentator says near the end of the video.

http://info.detnews.com/video/index.cfm?id=1189

I'm sure Mr. Albrecht will be amazed as to why this PROVES Ford does not need the government subsidy for which they claim. Any monies they receive will go directly to offset union costs and fill execs pockets ... nothing else.

Why bail these people out when they have been screwing Americans with inferior cars for decades ? My tax dollars are going towards this ? I honestly think believe that these companys can build better cars that compare with the imports. I beleive that much in the power of the American mind. A Ford or Chevy you are lucky to get 140K, a Honda ? Mine has over 236k and no problems. If Americans can built space vehicles that can go to other planets I think Americans know how to build land vehicles that don't self destruct after 100k miles C'mon now. Point is they can build and design better cars but just aren't delivering the goods.

The auto industry needs to wake up! This is nothing new. It has been happening since the 1970's. The American auto industy needs to be restructured NOW. Remove the present executives install an incentive for the auto workers that if they sell more cars they get paid more. It is unfare to bail this industry out with all the other small guys failing too. As far as I am concerned, Don't bail out the auto industy! Spread the $$$ and bail out the small businesses around the country.

No UAW worker earns $70/hr.You people in Maine don't realize what will happen to your economy if the auto industry folds. They are only asking for a loan to be paid back with interest by 2011-not a handout.The unempolyed workers can't come to Maine for jobs as you have voted NO for hundreds of casino jobs.We have several casinos in Indiana that employ thousands.