| Not even First Class is good enough for the CEOs of | | | | of the automakers declared bankruptcy, if we also |
| the biggest three automakers, Rick Wagoner of | | | | include the workers that produce materials and parts |
| General Motors Corp., Alan Mulally of Ford Motor Co., | | | | and the people that work in dealerships, some |
| and Robert Nardelli of Chrysler Corp. Each CEO flew | | | | estimates put U.S. job losses next year as high as 2.5 |
| in style in one of their company's luxurious jets hoping | | | | million. A GM shutdown alone could push the U.S. |
| to make their case to Washington that the auto | | | | unemployment rate next year to 9.5 percent. |
| industry is running out of cash and needs $25 billion in | | | | According to a forecast, a GM collapse would cost |
| taxpayer money to avoid bankruptcy. | | | | the government as much as $200 billion for expenses |
| Wagoner, who flew in GM's $36 million luxury aircraft | | | | associated with unemployment insurance and other |
| to ask for $10-12 billion for GM alone, cost his ailing | | | | programs. Other statistics suggest that a 50% |
| company an estimated $20,000 roundtrip to | | | | reduction in U.S. automaker operations will cause over |
| Washington! Even as the companies are running out of | | | | $108 billion losses in Federal, state and local |
| cash, Ford Motor continues to operate a fleet of eight | | | | governments in tax revenue over three years. |
| private jets for its executives. GM and Ford say that it | | | | Therefore, some argue, it is a choice between $25 |
| is a corporate decision to have their CEOs fly on | | | | billion in loans now or several times more billions in lost |
| private jets and that is non-negotiable. This is a slap in | | | | taxes in the future. It is estimated 850,000 retirees, and |
| the face of taxpayers" said Tom Schatz, President of | | | | their families, depend for pensions and health care on |
| Citizens Against Government Waste. If the Union of | | | | the Big Three. The Big Three contribute $21 billion a |
| Automobile Workers (UAW) is blamed for costs that | | | | year to Social Security and Medicare. If we add in all |
| add about $2,000 to the cost of a car, one wonders | | | | the businesses that depend on the auto industry, and |
| how much the executive multimillion legacies would add | | | | we are talking about one-tenth of the U.S. labor force. |
| to the cost! | | | | Japanese and Koreans are setting up factories in |
| Detroit's automakers burned through nearly $18 billion in | | | | USA. Do we want them to pick up all the slack? We |
| cash reserves during the last quarter-about $7 billion at | | | | bail out Wall Street plutocrats and big banks. To let the |
| GM, $3 billion at Chrysler and $7.7 billion at Ford. GM | | | | auto industry die is to write America out of much of |
| said it may run short of funds before the end of 2008, | | | | the economic future of the planet. The truth is that our |
| and Chrysler said that survival would be difficult | | | | auto industry is important to our country and its |
| without aid. | | | | industrial basis. A lost manufacturing capacity, if needed |
| The CEOs claimed to congress that what exposed | | | | in war, will raise a threat to national security. If this is |
| them to failure now is the global financial crisis which | | | | true, why don't we think like President Roosevelt during |
| has restricted credit availability and reduced sales. | | | | WW2? He kept the American workers busy with the |
| They claimed their problem is neither their business | | | | manufacturing of what was needed. |
| plan nor their long term strategies but the financial | | | | Yes, we can bail them out but with big stipulations. Just |
| situation we are in now. However, for years the Big | | | | asking for a plan for "viability and accountability" is not |
| Three kept building what they wanted without paying | | | | good enough. We can demand "radical" changes. |
| attention to the economics of the world around them | | | | Then, leave the ball in their court, so they can be |
| and the needs of consumers who started to prefer | | | | considered responsible in case they refuse to comply. |
| cheaper and safer cars with better millage. At the | | | | Off with their hands. They can take it or leave it. |
| same time foreign car companies were building better | | | | Otherwise, we may as well suffer the consequences |
| performing, more reliable and fuel efficient cars. The | | | | of their fall now, because if such a deal is not made, |
| truth is that the American car industry for the most | | | | America will lose the industry anyway along with the |
| part had snoozed. | | | | taxpayer money. |
| No matter what your political persuasion, no one thinks | | | | What are these "radical" changes? The incompetent |
| the auto company executives are doing a good job. It | | | | managers will have to be replaced. The buck stops |
| is hard to be sympathetic to an industry that has been | | | | here! No golden parachutes. No outsourcing. The |
| so grossly mismanaged. People fear that they are | | | | government needs to have decision making, |
| going to take this money and continue the same stupid | | | | voting-stock, to ensure that the industry will help us |
| decisions they have made for 25 years. Let them go | | | | build a nice transit system, and create inexpensive, fuel |
| down, they say. Taxpayer money will go up in smoke | | | | efficient cars that are environmentally friendly. Of |
| if given to such incompetent management. Money to | | | | course all this work must be done domestically. By |
| bail out GM will go to build a $300 billion factory outside | | | | playing their role in reducing our dependence on foreign |
| St. Petersburg in Russia to continue making SUVs! | | | | oil, the auto companies can be part of a much desired |
| Redesign and retooling will end up with jobs shipped | | | | solution. Such a transformation would help the US |
| overseas! Companies fail every day and others take | | | | economy in countless ways, and I am sure most of us |
| their place. We will still get automobiles, but they won't | | | | would be happy to see our taxpayer money be used |
| be made by American companies! | | | | for that purpose. |
| Easy to say, but there is so much at stake. If just one | | | | |