ANOTHER BAILOUT?

[Blastgirl]

I don't want us to lose General Motors, Ford or Chrysler but I dont' know when the Government should stop bailing companies out. Next George Steinbrenner (SP) and other Baseball or other Sports team owners tell the Federal Government that due to hesitant buyers Ticket sales are down and a bailout is needed to keep going.

Is that where we would be headed next?

I did like that the Auto makers were at least told that considerations could only be made if a plan was presented.

My Dad thinks that the Auto manufacturers will probably have to disassociate with Unions, reduce some wages or benefits to incoming workers as a way of cost reduction if they're going to continue though.

It's just a sticky situation and since they decided to run a Bailout on the last thing it ends up making it harder to refuse each request for a grant.

[Phil]

That was the 1st problem with bailing out the banks was to unstick the flow of money. Now every company that feels the effects of a slow econemy is going to reach their hand out. And why not.

Railroad companies are going to do the same thing.

I think your father is right the idea might break the unions. Unions protect workers from oppression. They also stop progress and protect do nothing a$$holes too so they're good and bad at the same time.

I'm sure the government will give the auto manufacturers something but a lesser amount than they're asking for.

[Blastgirl]

So where does it stop then?

[Phil]

They're going to have to put up some money. The auto makers might be able to survive anyway but paniced consumers aren't going to want to buy if there's a chance the company will be gone in a short time.

I don't want the big 3 to suffer. I was saddened when they discontinued Plymouth and Oldsmobile. Probably they didn't need Plymouth because its the same as a Dodge but it's an old name in cars and I hated it to disappear.

[Blastgirl]

There will be some kind of a grant because they can't just be allowed to go under. I do like the idea of terms to there being assistance though.

[Phil]

The senate declined on the automotive bailout. The President is saying he might use some of the bailout money already in place to go twards the auto makers. That's probably better than a whole new bailout.

What will probably happen is the government will end up putting up money for the auto companies but on somewhat different terms than were presented this time.

Like some CEOs might have to give up benefits, vacation times and perhaps even take a reduced salary.