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esanchez
Administrator
| Posts: 1195
| Joined: 07/06
Posted: 11/18/08 11:50 AM
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As you've probably heard, the big story of the past few weeks has been the bailout of the Detroit 3. Should they get the money? Where should it come from? Do you think GM, Ford or Chrysler could go out of business? What would happen next if they did?
Are they "getting what they deserve" with what's happening right now, or are they simply victims of the worldwide credit crunch and economic slowdown?
Do you think the Detroit 3's over-reliance on truck and SUV sales put them in their current predicament?
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Posted: 11/18/08 04:57 PM
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I personally think that the auto companies should be allowed to go bankrupt because they have been so poorly managed for years. if they went into chapter 11 they could reorganize and get new management in. They are getting what they deserve but not if "we" bail them out. And I say we because it will be the taxpayer that ends up paying for their screw up just like the bail out of the banking industry. If we bail them out where will it stop and what industry will need to be bailed out next. Detroit has made vehicles for years that buyers were forced to buy because it was what Detriot wanted to build and not necessarily what people wanted. Who likes the "cat eyed" look of the 03 to 07 Chevrolet pickup. That is why I still have a 92 and won't buy anything newer than an 02.
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esanchez
Administrator
| Posts: 1195
| Joined: 07/06
Posted: 12/12/08 10:43 AM
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Well, it looks like the White House and Treasury Dept. are going to bailout Detroit with funds from the TARP program. Do you think this is just postponing the inevitable collapse of the domestic auto industry, or an important first step in a fundamental restructuring of the companies?
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