Should the US Govenment Bail out the big 3 auto makers?

United States
November 20, 2008 9:30am CST
What's your take on the big 3's pleas for help from the government? I understand how much this will impact our country as well. But like other big companies like k-mart/sears they filed Ch11 & are still afloat. I don't see giving them a loan to be more than a temporary bandaid on things. They need to reorganize and focus on R&D and get products out there that consumers want & can afford. I was talking about this to my mother-in-law this morning and she thinks Honda & Toyota shouldn't have plants here. But IMO Honda just opened a plant in Indiana, where the big 3 are shutting down plants. Honda & Toyota employ alot of people too. Then again she believe in our country isolating itself and becomming completly self sufficient and only US products and goods. Eitherway what's your take on the Big 3's plea to the government?
2 responses
@sirnose (2440)
• United States
20 Nov 08
Yes, i think that we should bailout the big 3 after they have file for chapter 11 other than that we"re throwing money down a "Blackhole"...because if we gave them the money right now they would still have to file for chapter 7 or 11 anyway to keep their creditors at bay,so it make no sense to just give them the money out right...but we should help them the last of "Made in America Factories"...
@spalladino (17924)
• United States
20 Nov 08
No, I don't think they should be bailed out with taxpayer money. They saw this coming a long time ago and, instead of producing a more reasonably priced vehicle that got better gas mileage, investing in alternative fuel technology and looking out for their employees, they continued down the road they knew would lead to their destruction. The CEOs were so unrepentent about their excessive spending and lifesytles that they flew to Washington on their private planes. Honda and Toyota have brought jobs to this country so I don't believe that they should get out. I believe that American automakers need to take a lesson from them.