Let Detroit Go Bankrupt

Discussion in 'Economy' started by WillowTree, Nov 19, 2008.

  1. WillowTree
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    WillowTree Diamond Member

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    IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

    Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

    I love cars, American cars. I was born in Detroit, the son of an auto chief executive. In 1954, my dad, George Romney, was tapped to run American Motors when its president suddenly died. The company itself was on life support — banks were threatening to deal it a death blow. The stock collapsed. I watched Dad work to turn the company around — and years later at business school, they were still talking about it. From the lessons of that turnaround, and from my own experiences, I have several prescriptions for Detroit’s automakers.

    http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=1&hp








    :clap2:
     
  2. DavidS
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    DavidS Anti-Tea Party Member

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    I hope he doesn't ever expect Michigan to vote for him.
     
  3. sealybobo
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    sealybobo Diamond Member

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    Way to go arguing in favor of lowing American workers wages! You are a true idiot! Do you see what is happening to the middle class? Are you rich? Fucking retard.
     
  4. DavidS
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    DavidS Anti-Tea Party Member

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    Wait. What? What's your problem Sealy? Are you FOR the bailout of Detroit?
     
  5. WillowTree
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    WillowTree Diamond Member

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    I can tell you did not read the op... do you knee jerk all the time or just over the auto industry.. It's a good article you should take the time to read it.. then tell me why you disagree..
     
  6. NOBama
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    NOBama Senior Member

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    Anybody who thinks UAW wages can remain as they are whilst their computers pay a fraction of the wage is the real idiot.

    But, then again, anybody who has to call somebody a "fucking retard" to make a point is already an idiot.
     
  7. editec
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    editec Mr. Forgot-it-All

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    Yes, let all those workers become computer programmers.

    Good plan.
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    I don't care if they become ballet dancers - I don't want one red cent going to these CEOs who have hundreds of millions and won't take a pay cut to help save their own company. Read my thread about their private jets.
     
  9. sealybobo
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    sealybobo Diamond Member

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    Of course!

    I'm also for kicking Toyota and Honda out of this country if they are part of lowering our wages. $15 hr. is bullshit!!! But the dirty south loves it.

    Or, maybe the south can buy Toyota's and Honda's and the North needs to start buying American again.

    The Big 3 are restructuring. They are fixing what's broken.

    But I also agree the BOD's and CEO's should all be fired or should step down.

    And this proves that the Big 3's problems are not the expensive labor. The union workers didn't stop the executives from coming up with better cars.

    But regardless. I don't like that the GOP let Toyota and Honda in to compete with American car manufacturers. Just like we can't compete with Chinese slave labor, it's hard for the Big 3 to compete with Toyota when WE pay so much better. And I don't think the solution is to start paying our labor less. I am labor. I may be White collar, but I'm still a worker bee. Fuck with these manufacturers and you and I are next.

    I'm not for or against bailouts. If it is needed to keep the Big 3 going, do it. The USA made money when Chrysler paid back the loan they got in the 80's.

    And I bet Toyota CEO's and VP's don't make as much as the Big 3 exec's. So why don't the Big 3 exec's start cutting their own salaries first, and get rid of their corporate jets before they ask labor to take a pay cut.

    What I don't agree with are the Republican morons who want the Big 3 to go chapter 11. Then WE pick up all those pensions? No thanks.

    Plus, having American car manufacturers is vital to the country/economy. You people don't realize the USA doesn't produce shit anymore. And we went from the largest creditor nation to the largest debtor nation.

    But I'm not going to spend another 8 years trying to explain to you people what's going on. Anyone who's GOP or in favor of letting the Big 3 fail, or any of you idiots who buy Toyota's and Honda's, don't realize what you are doing to the middle class. And I assume you are middle class too.

    Please tell me what you do for a living. If you are for letting the Big 3 go bankrupt, please let me know what you do for a living.
     
  10. Red Dawn
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    Red Dawn Senior Member

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    Well, it won't just be detroit. Because the auto industry relies on subcontractors and subsidiary industries all over the midwest and the nation. Millions of people across the nation will be unemployed if the big three go under.


    But, I agree with you. I think "Let Detroit Go Bankrupt" should be the mantra and rallying cry for republicans in congress and all over the nation. Well done. I totally concur with you.
     

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