Charlie Rose

triplel  11/21/2008 06:03 PM Report

Another thought from our office in the midwest.

A lot of Americans are not purchasing autos this year, so the auto cos need to take our money some how, so they are begging for bail out. Due to us not buying, they will take our money through another source. Bail out!

VKA  11/21/2008 04:18 PM Report

It's a mirage that the US economy will be devastated by the failure of three big auto cos-US economy has enormous strengths. Also, current panic has been a creation of auto cos as a tactical step. It should be remembered that consumer demand creates the manufacturing capacity. Other players, more efficient and productive with desired products, will move to fill the demand. In this expansion process jobs will be created whereby some of the current laid off employees will be reinstated, albeit at market sustainable (reduced) benefits and wages. It is possible that one of the present companies may come back in another reincarnation,merged with others or renewed entity. Auto cos have had plenty of chances; I don't think giving them another one will make the difference.

MotherLodeBeth  11/21/2008 03:19 PM Report

For years the American auto industry has been behind the times, which is why Honda and Toyota are the top makers. And in recent years the fuel efficient cars Detroit has offered are a joke. To me they are akin to a drug dealer selling unhealthy stuff because they can, rather than producing a healthy product that will benefit society at large. And yes, I own and love my Toyota Matrix!

triplel  11/21/2008 09:57 AM Report

Okay, our family has a good income here in the midwest, however, there is no way that we are going to spend $53,000 on a Chevy Suburban that is worth 1/2 that two years later!

I heard Shelby mention that they are able to produce autos for $1,000 dollars less now. Who cares, they need to discount them about ten thousand to get our attention!

This is the feelings and comments of most of here in the midwest.

Now the people who are interviewed on the local news who work for Ford and GM are all for the bail out because they do not want to lose their high paying jobs.

I can't and will not purchase a Mercedes after Chrysler converted them to cheap pimples on wheels.

I know Ford people who can not get their own new Fords fixed due to dealers not working as a team with the manufacture to fix the problems.

If they would lower the prices to reality most of us would purchase the autos and they would not be in such a mess.

I am happy that the Government is going to require the three to create business plans. They will pay someone millions to create something that looks good enough to get some bail out money, then go back to losing money due to their high prices and extreme overhead.

Remember, most all cars and trucks are have the same basic functions, powertrain & drivetrain, the custom body is what sells them for high dollar and all it is tin that needs replaced through your local parts store.

Companies file bankruptcy everyday, why not the Big Three?

The government does not bail out the average company due to economic times.

Maybe we should apply for bail out money due to too tight of a budget at home. During the months of high gas prices we burned through our cash on had!

I am simply giving my point of view. I am not trying to upset anyone. The view of a hard working tax paying American.

uncisu  11/20/2008 08:34 PM Report

David Cole accuses ARS of not understanding the "contemporary auto industry" and says he doesn't spend any time in Detroit, yet when asked what the big 3 want out of this, he can't answer the question. Cole shows tunnel vision on his idea of a solution and pins the problem on credit. As a consumer who would is looking into a needed vehicle myself, I find the financing very attractive, but I don't want to buy a vehicle from a company that might be gone in a few months. Cole (and it seams the auto industry) don't get this. Show me you have a solution for your problems, I will buy. Just keep throwing money at a broken system and I will look at another option in a healthier company.

REMant  11/20/2008 06:50 PM Report

I think all the arguments I've heard in the past 2 days, from Sens Brown, Shelby and Kyl, and Rep Frank, David Cole and Andrew Sorkin, are right, and much better focused than on the TARP. The issue as Sorkin says really is how to do the restructuring, because they are too important to be allowed to completely fail particularly at this time, but like the mortgages, details of who pays what price need to be arbitrated, tho it is possible that the govt can do specific things to ease the transition. It can also be seen as a matter of intelligent relief, not much different from rebuilding bridges, water mains, etc. We do have to realize that much of the problem is not of their making, but a result of our monetary and fiscal policies, the very generous union agreements of the past, and the lack of govt leadership on fuel-efficiency. And it is not just hesitancy in buying new cars, but the value of American cars held by the public that will tank along with them, as well as some overseas sales, as for instance the Buick model in China. We do need to retain auto manufacturing here for its educational value. We cannot afford to lose more of our manufacturing base. But whether that means we need to have these particular cos is another matter. One could argue that foreign cos would still have to operate plants here regardless, but that is not necessarily the case, and if we become much poorer, the entire picture may change. The same with suppliers and dealers, though they now feed many mfrs, and dealers sell many diff brands. Then there is also the technology they own, which we would not want to lose. They are well-positioned to be future industry leaders in several "green" applications. The cos have, indeed, been slow to change, and are still imho caught in a time warp, but they aren't the cos they were in the 70's and 80's, as Cole said. While I don't know if mkt conditions will improve in time for them to pay back loans anytime soon, it seems to me a big burden would be lifted from their shoulders by other programs that the new admin is likely to introduce, such as healthcare and infrastructure projects, and also any environmental initiatives.

MadameDefarge  11/20/2008 05:27 PM Report

While Americans have every right to be upset with Big 3 management, allowing the the American automobile business to go into chapter 11 could throw hundreds of thousands of people out of work, which in turn would further depress the US economy.

triplel  11/20/2008 12:55 PM Report

Americans that I communicate with daily are VERY upset if we Bail Out the Auto Industry. Government would never bail out companies such as P&G, Lowes, or Home Depot, so why the auto industry?

I told my wife that I wish I knew how to become a senator, I would love to fight this.

We, Americans in the work place have no voice in this matter and it disturbs us. Thank you for listening.

Ron