Bailout alert: Senate hatches auto aid plan. Ugh.
Feel your wallet getting lighter? I repeat again: God save us from bipartisanship. Republicans involved in the deal: Bawling George Voinovich and Kit “Borrow – Spend – Repeat” Bond.
Ugh:
Senators Levin, Bond, Voinovich, Stabenow reached an agreement on bipartisan auto aid agreement a senate democratic aide said on Thursday. The senators plan a news conference for 2.30 p.m., the aide said.
(link)
Like I said last week: They will cave. You will pay.
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1. We must do something.
2. This is something.
3. Therefore, we must do this.
Why not? It’s worked soooooooooo well before.
This is the lunch hour nausea post. I seem to recall President Bush won’t sign the bail out bill. I sure hope he doesn’t. Gads, if these dc bunch can’t do it one way, they will do it another way.
L
Good for them. I don’t care.
I, for one, will NEVER buy a car from a UAW plant.
I drive a Nissan Frontier made in a UAW-free plant in Tennessee.
C’mon. We all knew this would go through. Yesterday’s show trial of the CEOs was just theater.
This money will be in Detroit by mid next week.
If President Bush signs yet another EMERGENCY (hah) bailout, he deserves all the contempt and blame he will receive for the next 4 years. Let Obama have this hot potato.
Better yet, REPEAL the existing bailout(s).
Yep, no more UAW plant cars for me either. Last one I bought was in 1990.
Next is likely to be a UAW-free Honda.
We already bailed out white collar financial world. Now we don’t want to forget our blue collar brethren, do we?
Washington- Please tax us to death and spend all that money for bailing out whoever you chose and remaining money to war against whichever country you like. No need to provide any reasonings – We trust you completely. Our money is yours.
Exactly…I’m sure all the limousine libs wanted a cathartic bashing of a convenient surrogate such as the lear jet CEOs to take place, so that they won’t feel so bad about forging ahead with more graft and corruption at our expense.
Stop with the stupidity; It will only prolong their demise; Company execs are the root cause problem with their failed business model, never drawing a line in the sand with the UAW many years ago when the auto transplants first entered the arena with a lean and mean business model; The UAW is a cross between a scorpion and a vampire bat; Like a scorpion, they paralyze the business in their day to day operations, their short and long term business plans, and then like a vampire bat, they bleed the company dry; That is the UAW business model!
That sounded like a quote from Barney Frank.
I’m sure the 2:30 love-fest will be as disgusting as usual. And Barney frank is already saying $25 Million is just the start!
sorry, $25 BILLION
And once it goes wrong regardless that this is a heavy Democrat plan it’ll be blamed on the Republicans
I hate life sometimes
The snowball is getting huge, soon it will be rolling into other Countries as well.
“mark my words”
We will
Bailout“rescue” more than just the U.S.A’s inept companies.I feel your pain.
This is only he beginning. Wait until Obama starts…
Huzzah! Nationlized Yugos for everyone!
AlohaGuy Bank Holding Company Autos You Don’t Want LLC demands their TARP!
It’s bigger than all of us – we don’t know what to do, so where’s my money?! Sure I ran the place into the ground, but a few billion should fix all that. Look, if you need me to, I can prove I’m an incompetent auto manufacturer – just give me the money, now!
Stop the madness!! [screaming from the hilltops]
Which is exactly why the Dems don’t want to pass these bills without republican support. If the republicans would just take an early recess and go home, nothing would get passed. Instead they fall in the same trap over and over!
My government makes me sick. I don’t think it matters whether R’s or D’s are in control. The fact is we are screwed and nobody on Capitol Hill has any idea what to do, or a willingness to toughen up and do what must be done.
Banks/Insurance companies now auto. After Cap and Trade the utility companies are next and Fedzilla has absolute power: open elections not necessary.
Auto companies? After Cap and Trade where will they get their steel and power to run the plants? Just how hot can that solar collector heat that furnace?
Fedzilla-meet BroBama-George Bush paved the way.
—
Is NOW the time for the Second American Revolution?
Not that it matters or makes a bit of difference, I sent the following to Voinovich:
I have a small business. It had about $100,000 in sales last year, a little less in ’08 and I’m forecasting even less in ’09. I am 59 years old; my retirement plan is basically Social Security.
Please explain why I should help pay, through my taxes, for the plush retirement benefits of the autoworkers when these benefits rival the retirement benefits of Congress; while I have only Social Security to look forward to. I (the government) didn’t promise them this retirement perk, their employers did.
Let the auto companies go into bankruptcy and relieve their debt according to law. Only then will they become viable. Don’t blame the auto execs for their product line; they only produced what they could sell to this market. You can however, blame them for the decisions they made as far as union contracts that got them into this mess. When the companies start seriously cutting costs (corporate jets, pay cuts, bonuses, etc) and the unions open negotiations for cuts in pay and benefits, then you can reconsider a LOAN.
$25billion will NOT solve their problems without drastic changes in the way the companies are managed; it will just open the door to further bailouts next year.
The emergency $700billion that was supposed to buy the bad mortgages has been diverted to “who knows where.” Please pay attention to that bailout. Let us know what is happening to the money you’ve already given away before you give away more. (signed)
Whenever these idiot politicians come up with some hair brained scheme you just plug your ears and wait for the loud thud when it crashes to the ground. This inept government regime is going to spend us right into the poor house.
I haven’t driven new Detroit tin in 20 years. I’ve had 4 Hondas, never had to put anything but routine maintenance into any of them (except when I hit that deer, but that’s another story). I do, however, like my old F-150, but I bought that used.
I heard from someone in the know that this is exactly what it was, one of the CEO’s will resign, the token sacrificial lamb. I’m not at all surprised.
Hey, Detroit! Why is it that the only cars you can sell right now are the “Retro” look cars like the Mustang, the Challenger, and the Charger? Give us what we want! Give us reliable cars like the Japanese and Korean cars; just don’t make them look like the foreign cars.
Ford, for example, thinks it can churn out any piece of crap, throw the old “Taurus” label on it, and sell it like hotcakes.
Didn’t these dopes on capitol hill learn ANYTHING from the disasterous consequences of FDR’s New Deal which prolonged the great depression? WTF are they doing to us???
If all the Detroit CEO’s fell on their swords while the CNN cameras roll, I might consider loaning them a dollar.
I hope they don’t forget to include money for new private jets for the auto execs, ’cause that would be cruel and hateful.
At least during the Great Depression, there were more trains that a guy could hop. Now more goods go by truck; a lot harder to jump aboard a SEMI.
If this is a surprise to anyone, you’re not paying any attention.
slightly off topic
http://www.slate.com/id/2205009/
and vomit at the bailout
My uncle was a foreman at the Belvidere plant. The UAW had a rule that anyone on the production line could stop production at any time for any reason whatsoever, no questions asked.
It is the UAW that destroyed the US Auto Industry.
I still have not heard one thing about what will we do with all the cars that NOBODY wants?
hahahhahahahhah funny.
Don’t forget the Peanuts.
Just wait until Macy’s, JCPenny, Dillard’s and all them want a bailout.
Freakin disgraceful.
The only $$ of mine that the big 3 will ever get is lumped into this bailout. My next ride will be a Honda.
To Hell with the lot of them.
I knew this was gonna happen, I mean for crying out loud, they’ve given money to everyone else for less reason. so I figured I’d give myself my own little stimulus package. I bought a bunch of ford and gm stock when they hit their lowest point a couple weeks ago on the assumption that it is unlikely that both will go out of biz, and there was a good chance that the gov would bail them out to protect the unions. this way they’ll be turning around and giving that money to me.
Of course they’ll bail them out, they owe the unions big time for all the votes they drummed up. Anybody that believes they have even the slightest influence on anything this corrupt government does is either smoking rope or hopelessly naive.
I like that! We’re in the market for a car….we intended to buy big 3 American but if this goes through I’m going with something from the Japanese plants in the south.
txvet2 said:
I’ve only had 1 Ford in the last 15 years, and am only now starting to replace some worn parts. If you trade in your cars every 5 years, it seems like you’d be fine in an American car too.
But screw ‘em.
So congress will throw more money at this poorly run industry so the union workers can churn out cars which noone will buy. Unless the taxpayers are going to get free cars, I’m not sure how this bailout will keep the big 3 from total failure. It is clear than none of the nitwits in congress has a clue how a free market economy works. So nice to know that union paybacks are much more important than doing what’s best for the country. Never pass up an opportunity to line someone’s pockets.
I love my Toyota, and I will love my next one…
That is the absolute truth, Rambler. They are clueless, and, yet, they are in control. What a nightmare!
At this point, it would probably be cheaper to give each household their share of the bailout $$$ to buy whatever car they want (or support whatever other industry they want to support). Here’s to American capitalism!
No… I’m going to feel it getting heavier, much heavier, like so heavy I need a wheelbarrow of it’s contents just to buy a pack of chewing gum.
Cannot someone challenge the Constutionality of this? By what authority to they indebt the taxpayer for the cost of these boondoggles? As I said on the Pennsylvania/Boscov thread, our only option may be some form of concerted class-action civil lawsuit(s). This is absolute professional malfeasance.
http://www.conservativeusa.org/mega-cong.htm
Our retirement/savings is going up in smoke.. CEO’s going up in jets… NO MORE BAILOUTS…
Hugh Hewitt focused on this topic on yesterday’s show, kicking it off with Mitt Romney’s (the man who SHOULD be president-elect right now) NYT opinion column. As usual, Romney sounds like he has it together – no bailout!
I didn’t think it would happen this fast, but we are already in a depression. DOW down to 7500 and heading south. I am not seeing any way out!
Bottom line:
Big Three Labor costs are $78 per hour.
Toyota and Honda U.S. labor costs are $48 per hour.
You can do anything you want, but baring an explosion of robots, any plan that does not address this is meaningless.
Therefore, Romney is correct.
Guy,
It doesn’t seem, (from the comments here, anyway…,) that ya’ll really see this for what it is.
I read everyone saying what boils down to: “so&so must be *stupid* to vote for that: it won’t do any good! I don’t *understand* it!”
Regardless of what we think of them, all sucessful politicians, (success being defined as winning elections and accrewing power,) have focus. Even though they might not be the brightest bulb, they possess that quality snakes, foxes, weasles, and all other scrounging packanimals have: cunning.
Look at the bills that go though Congress, 98+% simply increase their power. Either directly, (tax increase) or indirectly (Campaign Finance Reform). Even when a law doesn’t *look* like it changes the balance, it usually does. It will do it in devious ways: on one side of the equation by limiting the citizen: access to a government process, or his mobility or choice, or interfering with the ownership of chattels. In some cases removing the right-to-ownership all together. If they think they can get away with it, it might be a direct robbing of the power we’ve loaned them to act in on our behalf, converting it to themselves. I could go on with specifics, there’s a lot on this side of the equation.
On the otherside it might
impede a citizen’s access to information needed for judgement, hiding and/or deflecting accountability for actions, complicating and overlapping the laws until a citizen’s always on the hook, insulating themselves from conditions they create, using their loaned power to social engineer the citizenry by keeping them ignorant of our history and the actual model that our Republic was built on. I could fill pages with this…
When looked at through that lens, all their actions become understandable and predicable.
For ex. JN: of course he went for the bailout. Look at every vote, and every bill he championed. Public Service? It is to laugh. John McCain served John McCain. And Pelousi will serve Pelousi, Murtha, Murtha, etc.
I have many relatives/friends in the airline industry. They took cuts in pay and benefits years ago, new hires were hired at lower wages, with tiered pay increases. Those airlines that filed for Ch. 11 were flying the next day with full capacity and the debts have been repaid. I’m not saying they are completely out of the woods, but they are surviving. Yes, some had bail-outs after 9/11 but that was not of their making. Banks, insurance companies, and now the auto industry did not suffer that kind of loss and the reasons behind it. Our banks and insurance companies lost sight of their lending responsibities (albeit mandated by the Feds) and the auto industry has failed to understand consumer needs.
Hey, this is change we can all believe in!
Probably.
As an Ohioan, I’d like to apologize for Sen. Voinovich. I have never voted for him, and I will never do so in the future. He’s toast when he runs for reelection. The downside is we’ll probably get another Sherrod Brown in his place.
I’ve got the solution all figured out:
No matter what happens, in 50 years I can guarantee that I wont care…
I was going to buy a Ford in January for my Dad.
That deal’s off.
Looking at Honda and Toyota now. Or maybe a BMW 3 series. Screw the UAW. They want to be subsidized? Ask France for the money.
Nah… he’ll get re-elected.. just like Murtha.
NJ-Aviator, you might want to watch this first.