younger = time to get a new career. What are we at 4% unemployment? jobs are plentiful. 6months training at it tech and you can get a job doing something totally different.
Auto industry: to bail or not to bail
- Thread starter Onceler
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younger = time to get a new career. What are we at 4% unemployment? jobs are plentiful. 6months training at it tech and you can get a job doing something totally different.
i see, thanks. i thought there was that risk, but have been having this debate with a couple of people.
it's hard to always be right, even in things that don't fall into your own particular field. but, that's me to a Tee.
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The Almighty
yes.... IF the bailout were to occur, the government should take ownership of the stock, then turn around and sell it to recoup as much of the bailout funds as they can. The taxpayer should benefit from these transactions, not the current stockholders.
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The Almighty
me too, but mostly because i suspected it would be a bush boondoggle, him raiding the treasury for his friends on his way out.
and wouldn't you know it, but...
Is it a wet tee?
LOL
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The Almighty
We already have that... its called Toyota... the number one producer of autos in the US.
The loss has to be short-term. The reality is the company is still traded and one can make or lose money on the market with AIG. In the long-term if the bailout is successful the stockholders will make money. Unless the government simply pulls a Venezuela, the privately owned stock remains on the market.
it's funny you felt the exact opposite when it was your livelihood at stake chap. i can't help but notice that.
is it because these are just blue collar workers?
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The Almighty
Because like the Chinese, the Japanese plan for the long term. Rather than responding to short term fads like the Big Three.
i definitely agree with this, and this is worth spending money for, because there is an actual payoff to the american people, and the american worker, both short term, but probably more important - long term.
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The Almighty
Keep in mind, the government took over 80% of AIG stock. That is 80% the stockholders lost. Their shares were seriously diluted. That said, new buyers could indeed make money off it. But those holding the stock at the time of the bailout have a hell of a lot of ground to make up.
The human side of this just kills me. I'm pretty lucky, because my job is pretty secure right now, but everytime I read about these layoffs, it's just devastating.
DHL's recent layoff of 9,500 killed an entire OH town - just killed it. As soon as they announced it, other businesses - insurance agents, restaurants, et al. - started packing up & making plans to just leave.
We're all connected in such a vital way that rarely is obvious on the surface; that's probably why I support a bailout. I just think the ramifications of stranding all of these people will be wider & deeper than most people think.
I don't mind bailouts specifically.
What I mind is purchasing failure with our tax money. Even when we do the right thing and fire the current leadership we reward their failure with millions as we send them merrily on their way. Mediocrity and failure should not be rewarded in this fashion.
I understand this but what happens to their houses and other debt during the 6 months?
damo i'm just not going to get behind putting an entire industry out on the streets just to spite a few ceo's.
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The Almighty
that ISN'T what he suggested goofball. He stated that IF we bail out the companies, the EXECUTIVES HAVE TO GO. They cannot be allowed to continue leading the company that they destroyed. He is suggesting that fresh blood take over the reigns IF a bailout occurs.
"What I mind is purchasing failure with our tax money. Even when we do the right thing and fire the current leadership we reward their failure with millions as we send them merrily on their way. Mediocrity and failure should not be rewarded in this fashion."
i don't think so sf.
C
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Guest
One of the problems with letting them fail is the amount of time it will take for a better auto manufacturer to gear up and start producing.
Yes, the current mgmt has totally screwed the pooch. But, as Darla said, we already produce so little, can we afford to let another big chunk of our production go under?
Its a tough call. I was totally aganst the bank bailout, but this one seems to me to be a different animal.
Yes, the current mgmt has totally screwed the pooch. But, as Darla said, we already produce so little, can we afford to let another big chunk of our production go under?
Its a tough call. I was totally aganst the bank bailout, but this one seems to me to be a different animal.
I just read that they estimate that 1 out of every 10 jobs is connected to the auto industry in some way. That's just scary.
I know people are pissed about all of the bailouts and have little tolerance for more, but it's definitely a "cut off your nose to spite your face" kind of situation...
I know people are pissed about all of the bailouts and have little tolerance for more, but it's definitely a "cut off your nose to spite your face" kind of situation...