I am very sorry, friends, but this subject is off topic, contentious, and sure to erupt into more than the two complaints I have recieved in the reports forum already. I am very much interested in this topic, and had an excerpt of an email I sent to "Cross Country Check-up", a Sunday afternoon phone-in show on CBC Radio 1, on this very subject read today by the host, Rex Murphy. However, it isn't about trains nearly enough to warrant letting the flames lick at our butts.
If you want to hear how a surprising number of Canadians, especially those who tend to listen to Mother Corp, of all stations, feel about the proposed bailouts, no matter which side of the border, feel free to find the program podcast link at CBC's site.
But this topic is closed.
-Crandell
....We have a serious problem with our American auto industry. I personally don't have any answers to such a critical problem. I have spent over 40 years pretty close to it all.....
If bankruptcy is declaired, will that negate all Labor contracts.....? I really don't have that answer either.
Can they reorganize into a viable workable group......? {If bankruptcy is declared}.
My opinion: If we do decide on some kind of loan.....or bail out package of some kind, we have to have quantifying guarantees and and a plan written up to a workable solution, and that would have to include, management and labor together. We can't be subsidizing companies to this degree that are obligated to pay workers up to 95% of normal pay when they are not working due to layoff, etc.....{I'm not sure of the exact time and figures, etc...}. And we can't be subsidizing them and allowing all kinds of excesses in management bonuses and golden parachutes....
If we just lay out a bailout package without requiring massive change from current activity....they will simply go back to what they have been doing and come to this point once again.....Their business plan description definitely has to change.
Quentin
My point was only to present Bill B. with the possibility that the evil U.S. auto companies might not go down in flames. Actually I see only two possible scenarios. One is that we bail them out and they continue to limp along until they soon require another bailout. And then the argument will be that we have sunk $25 billion into them and that will be lost if we don’t sink another chunk of money into them. That road obviously leads to a nationalized car making industry—another trophy for the central planners.
The other scenario is that they go bankrupt, reorganize, and continue as private enterprise. Although it may not be possible for them to compete even if reorganized, given their pension fund overhead. Losing them and all the jobs would be bad for all of us, but that horse has left the barn. On the other hand, I think a bailout would be worse for all of us. But having said that, I would bet that we are going to bail them out because the camel wants to get its nose under that tent.
"Marxist Mexico"?? Might want to check your facts.
If you add up all the people who would be out of work if the big three were all to close - not just assembly line workers, but people who work at car dealers (both in selling and in servicing cars) and all the people whose jobs are involved in repair work etc. it comes up to a pretty big chunk - it would probably change our current recession into a depression.
Ya, it might not be a great deal to buoy up our auto industry with government money (the way other countries do that we're competing against) especially with their history of ridiculous executive salaries and bonuses, but the alternative - massive unemployment etc. - probably is a worse choice.
billbtrain Looks like GM,Ford,and Chrysler are finally going to bit the dust after years of bonusing execs and spitting on workers and customers alike.I say good riddance to bad garbage!!GM was planning on shutting down plants and moving production to mexico and having parts made in china.Ford donates money to organizations that disagree with my personal views.And Chrysler is still talking bonuses to execs that sounded like they planned on bailout money to pay for the bonuses. While this is going on,sales for Toyota,Nissan,Hundai,and Honda are up and all four are working on expanding their plants and operations. I would rather give my money to the Japanese(an allie) than to communist china or marxist mexico or as a bonus to some seat polisher who thumbs their nose at everyone below them. I suppose that Norfolk Southern would be the biggest loser in this scenario,but would rebound better than ever once the Japanese takeover. Better and Better in my book!! Bill B
Looks like GM,Ford,and Chrysler are finally going to bit the dust after years of bonusing execs and spitting on workers and customers alike.I say good riddance to bad garbage!!GM was planning on shutting down plants and moving production to mexico and having parts made in china.Ford donates money to organizations that disagree with my personal views.And Chrysler is still talking bonuses to execs that sounded like they planned on bailout money to pay for the bonuses.
While this is going on,sales for Toyota,Nissan,Hundai,and Honda are up and all four are working on expanding their plants and operations.
I would rather give my money to the Japanese(an allie) than to communist china or marxist mexico or as a bonus to some seat polisher who thumbs their nose at everyone below them.
I suppose that Norfolk Southern would be the biggest loser in this scenario,but would rebound better than ever once the Japanese takeover.
Better and Better in my book!!
Bill B
Yeah, well while you gloat over the demise of the big three, consider what will happen if we the people give them $25-billion. Where does that take you when you connect all the dots?
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