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Life & Events > Automaker Bailout 20080925
 

Automaker Bailout 20080925

Congress is in the process of approving $25B for GM, Ford, and Chrysler. I read that GM wants a total of a $100B loan, not a bailout, from the federal government so they can shift to producing more relevant vehicles for today's market. Huh? You mean GM's Denali, Yukon, Envoy, etc. (big SUVs) aren't going to continue to sell with gas at $4/gal? They should have pulled their heads out of the Saudi-oil-field sand years ago and worked on more appropriate fuel technologies for vehicles then. If companies can't keep up with the demands of the market then they go out of business. Why should the govt have to step in bail out GM when other companies (e.g., Toyota, Honda) are producing vehicles that sell and other companies go out of business when not relevant?

We as a country need to produce more products made in America, but 2.5-ton SUVs (the 2008 Hummer is over 3tons) aren't the most sensible product, unless the goal is to send the most post-sale money to the Mideast.

posted on Sept 25, 2008 6:51 AM ()

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The automotive lobbyist groups have done a very effective job in keeping Congress from passing effective legislation regarding MPG rates and alternative fuel technology from reaching main stream.

yaaaaay progress....
comment by hawkwoman on Sept 25, 2008 4:22 PM ()
It's hard to imagine the US without GM and Ford, and I think that thinking goes all the way to Washington - seems like they would go to any length to shore up these businesses so there is no incentive for the automakers to be responsible for keeping up with the market, they'll always get bailed out.
comment by troutbend on Sept 25, 2008 11:10 AM ()
They should just give up and sell out to Toyota, Nissan and Mitsubishi. Detroit has always been five years behind them in innovation. They'll never catch up.
comment by jondude on Sept 25, 2008 10:10 AM ()
I concurI heard that on the radio this morning. And I registered to vote yesterdayPolitics often confuse me, but I try to keep up with the election stuff. So does this "bailout" involves tax payers money right?
comment by starlite on Sept 25, 2008 8:30 AM ()

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