- Description
Daily Highlights Wednesday November 19, 2008 with Barney Frank, Richard Shelby; Andrew Ross Sorkin, David Cole
[Watch full episode] (http://www.charlierose.com/schedule/?date=2008/11/19)
- Keywords:
- economy
- bailout
- Cars
- auto industry
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koconnorbater 11/26/2008 12:19 AM Report
I do not have a problem with the US making a commitment to investing in the Big Three automakers, but Congress must be realistic in its valuation of the companies. The corporations need to be funded and restructured with the following considerations in place: 1) what is the value of all production assets insofar as what would it cost the Govt to replace them? 2)what is the salary base for the management minus the bonuses --which, of course should only be earned as profitability goes up. 3) Will the labor costs go down in the event of a national health insurance for all? If so, what will the net offset of the cost be? 4) What type of short-term and long-term incomes can be expected based upon engineering innovations such as fuel efficiency and environmental safety? In short, I only ask that we not use taxpayer's hard-earned money simply so that we can deceive ourselves into thinking our assets are worth more than they are.