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277836 tn?1359669774

President Bails Out Automakers

So what do you think about this? I am glad in some ways but then I look at how much they make from selling cars. Then when they get in a crunch they get bailed out. I know if the president didnt do it the economy would really be a mess! In the long run we will be paying there debt back to me thats not fair. We need to have the 500 million people march and take a stand against these unfair ridiculous BAIL outs.

I feel we are doomed either way but thats just how I feel.
18 Responses
518031 tn?1295578974
i was in the car indusatry for about 10 yrs before i got sick, i was a salesman then salesmaneger of  anew car dealership...we sold Chevrolets, Buicks and Toyotas.. and back in the late 90's  we were saying that Gnm would be lucky to stay in business.. they put out junk, the problems were terrible. now if you bought a 40k park Avenyue or caddie you had a nice car, but the mid size and small cars were horrible. With Toyota we had very few problems with any of there vehicles..so they put thierselves in this postion they dont have car people running the company.. Rick Wagoner who is Ceo of GM was a cpa for them and worked up and now is Ceo.. he is not a car guy he knows numbers not cars!!  i hope to god they can work it out and make them profitable again. but it is a steep hill to climb and they econmy isnt helpoing either
Avatar universal
We, and I say we, because we are going to be the ones paying the bilout. Right? Correct me if I am wrong. Who's going to bail me/out. They wamt to repo. my car . foreclose on my car, cut lightsd off, and starve me. All so they can continue their $$$$$$$$$$$$$$$$salaries. I know. My cousin was asked to retire early if he wanted to. Gave him big $$$$$$$$. Was making close to $70/hr. Yes. The money he got when left early bought home on Lake Oconee. Bush having home built there, so I've heard. Reynolds is near us. We are in a cow pasture. It is about 15 miles up road. Back to subject at hand, and het this a huge foreign SUV and a midsize foreign SUV. He still draws check monthly. NOW, when he was working he didn't even stay at the plant. My aunt, not his MOM said he would visit and if they needed him they called. Sometimes he wasn;t need4ed all day. If it was after hours and they had to call, yes overtime. This cousin we are fairly close, my mom's brother's child. He knows the struggles we are having. Do you think he has offered a loan, Not a handout. Get real. When my son was dying and we were seeking tx. at DUKE but had to have $2000.00 for each treatment, no family help. Strangers hepled, people we had never seen before. Now, you had better believe he brags about the money he got and that he is receiving. I had to leave the room it made me so nauseated, but not before I said, "It's not what you make, but what you do with it. You can't take it with you." Do I sound angry? YES !!!!. I worked !!! I never looked at my job as a job. I saw it as a mission and a calling. God took care of my family as I provided comfort, compassion and care to his people. If they were unsure I helped them to receive Christ before they died. I was a hospice nurse, before I was terminated for being a liability to the company. I had a W/C claim since 2/07. Was terminated 10/3/08. Many times I spent money on Patients that needed things like air cond. or portable heaters in winter. Some needed food when food stamps were not enough. Christmas for children and a birthday cake for grandchild whose birthday was the day after his grandmother died. I don't say these things for recognition. My CNA I worked with did these without anyone in company knowing, for had they, e would have been fired. Please, don,t take it that I am asking those here for money. But family, I would help them. I try not to worry and have faith God will provide. He has thus far. Collectors have given extensions that others can't believe have been given. They didn't give them. I know the one that did. I know I am not the only one that is affected and I pray for peace for each of us and to those that believe, the increased faith to know we will be taken care of. Thanks for allowing me to vent. It's that I just received a call from other Aunt who said cousin was there this am bragging that he had given '06 auto to someone. I know they were blessed and I guess that was God's plan. Why would he want to brag?  So long gotta go send car pay. via Western Union. Thankful my brother gave early Christmas present last night. Now only owe 3 behind. I still believe I am blessed. We have our health, still have our home and food. Thank you Lord for your blessings on me.   Blessings to all of you and Merry Christmas.  

Madlyn
Avatar universal
From what I understand, the president has given the big 3 thirty days to show him a plan that will keep them profitable and has stated it will be a loan to be paid back by them, not a bailout.  I think that is a great idea myself. One thought to add tho is the big 3 have unions, and I do not think Toyota and other foreign car makers do. Toyota does not have to pay for all the benefits and work more for much much less. Gone are the days of getting retirement for a lifetime invested in a company. Now you get an hourly wage and if your lucky some kind of half asssssed insurance package that doesnt cover scripts or much of anything else.
277836 tn?1359669774
Teko you know they will find a way to try and trick the government. As for the big chiefs working for 1 dollar I dont buy that either. Its a waiting game now but rest to sure in some way or another WE will pay for there loan wait and see.
495284 tn?1333897642
I smell a rat with this bailout........Loan??  We will end up paying for it in the long run.  
Avatar universal
I have the same gut feeling I am afraid.  I sure do hope we are wrong. Regardless, it will be interesting to see who steps up to the plate for a bailout next. I c a depression ahead for us, not just a recession.
277836 tn?1359669774
I agree Teko I am trying to hide my goose egg so I wont lose it lol You never know the next thing to come could be a fee out of our bank accounts each month. My bank takes a dollar every month thats 12 dollars a yr I have been with them for 15 yrs so you think they made some money off me? You wait and see it will get worst the bail out is just a hush type of deal. There thinking is let us pay it back because they think Americans are dumb these days. We need to protest Thats what we need to do !!!
518031 tn?1295578974
what is scarey the next big bailout may be credit card companys..i saw a tv report where they say the avg. credit card debt is over 20k thats bad we are heading for real bad times i am afaird
277836 tn?1359669774
Dont get me started Jollyman these credit card companys are ripping people off with there high interest rates. If you dont pay your balance off monthly they will make a killing. If they try to get a bail out I am going to washington for sure so maybe you can meet me there and we will raise some cain???
518031 tn?1295578974
i would be there right with you.. i was the finance director for about a year at the dealership were i worked and i would run ppls credit to see if they qualified for a car loan ..you couldnt beleive some fo the credit card debt i saw on some of those reports unreal and like you said if they dont pay it off monthly thenm the big intrest rates kick in here in maryland they can charge you 24.99%  unbelieveable
Avatar universal
If things keep going the way they are and the credit card companys raise the rates, a whole lotta people will simply quit paying and then you talk about a mess! We will have no credit, ability to get a loan which will result in no car or home sales, rates will go up on insurance premiums and everything else and we will default on those and the dominos will keep right on falling until we are financially kaput as a country and then one of the ones like china tha we are totally in debt to could just simply walk in and take us over. Scarey! There will be no welfare, food stamps, unemployment and then wha-la, we are standing in a soup line in the middle of a depression.
518031 tn?1295578974
thats the problem now  the 700 billion that the banks got in the first bailout was too free up the credit markets and they havent done used the money for that.. they are buying other banks and holding the money...the govt really screwed us on that one  housing sales fell 18% in november and all of the car companys were off over 30%in sales..people arentr getting loans now
277836 tn?1359669774
Guys the whole deal is they are going to look out for the big tops we are just ants in the sand who make them RICH. When there pocket is affected then they put on the whine to the government

. Lucky I aint i n charge no one would of got a loan in the big corps.
Hopefully teko we wont have another country come in and take over hell I would be ready to fight. Lets hope we never get in the union do all else is lost like you say. Its really scary and I am worried for our kids sake they are the ones who will suffer worst than we have. We stand strong but the government always seems to bring us down and they are the ones who stay  rich makes me so mad!!!


Jolly I have done away with all my credit debt and when I buy materials now it is paid for right then I got a letter from a few of the card companys saying my rates were going up I pay my debt off monthly but for them to say they were going up pi ssed me off. They can keep there high interest rate bully me around credit. Our ancestors survived without them so can we.
If we took a stand things would not be this way the AMERICAN people could crush this government if we did that things would be a lot different then.
Avatar universal
My husband works in the auto repair industry and just in the last couple of weeks, the parts companies will not deliver parts on credit, only cod. There are a lot of different types of work that this will effect. Not good at all.
277836 tn?1359669774
No its not some of my distributors want a cashiers check now they wont do cod. So other words before I order it has to be paid for first. That puts me in a crunch because 9 x out of 10 the homeowner wants the work done before they pay. For me its no more 30 day grace period which was nice because at least when I did have that I had the money for the bill now I have to take it from my account and hope the homeowner dosent stick me. Yes they do that even with a signed contract.All you can do at that point is take a lien out on there house. Which dosent do a bit of good until they try to sell it. Makes me mad and with the economy like it is now you cant trust ANYONE even the Drs and Lawyers
Avatar universal
this has also been on my mind, my husband is a chemical engineer who just got laid off, where is the loan for his industry?
why is it just for car people
and who is going to but the cars, because most of us have lost our jobs?
i am confused?
277836 tn?1359669774
The bottom line is THEY the GOVERNMENT does not give a shi about us. There pockets come first then when the shi hits the FAN they start pointing there crooked fingers at each other. Wondering whos fault it is between them.

I for one will not buy another AMERICAN made car it will be a Honda for sure I feel we have been done so wrong he!! we will be the ones to make them richer. Not me from this day forward I am done spending my money on these crooked companys
I hope they read this post I am an angry AMERICAN at this point why should we have to put the BREAD and BUTTER back on there tables they got themselfs to the point they are at. We paid their high a$$ prices WHY should we have to bail any of them out?????
Avatar universal
I was in WallyWorld this afternoon and talked to  the son-in-law- of a former patient of mine. He was talking and told me he had sent a letter to President Elect Obama.It was a proposal that went something like this:  Instead of bailing out companies...give all taxpayers over 21, 1 million dollars. They in turn could buy houses, cars, food and clothing. The money would be going back into the economy. Mortgages and credit cards and bills could be paid off. This would stimulate the economy. As said above, money to automakers when we can't buy the autos, what good will it do? The smll amt stimulus we got, what did it do? Wasn't enough to stimulate economy. Yeah, I realize this is farfetched. But in reality, a bailout for the people, to me makes better sense. Who am I though, just a dumb 'ol taxpayer that will be paying for the money our govt. give the big execs. We will still be struggling to get by and the big execs. will still be "living high on the hog" as my grandmother would have said. I still get very irritated when I hear about or think about the bailouts. I know you never would have known.   :-0(

Madlyn
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