As much as some clamor for it not to happen, quick payday loans to the Big 3 American auto manufacturers might not be such a bad idea. The 3 largest American automakers have been pleading with Congress lately to get emergency funds to keep them afloat during the current economic crisis, and it seems that they aren’t likely to get a scrap of anything until spring of 2009. Many people have been decrying these companies for years, and they deserve some of it, certainly – taking private jets to plead for cash to help out is in very poor taste, to be sure – but that doesn’t mean that one of the larger industries in America needs to be punished for executive irresponsibility. Remember, these companies are American in origin, and have made up the bulk of all cars and trucks sold in the United States for decades – do we really want to see another American industry go down the drain because we don’t like the people that head them?
The guys in the boardroom may stink – but we shouldn’t take it out on the workers
The Big 3 of Michigan have certainly messed up over the years – they gave us so many lemons like the Edsel and the Pinto, just to name two, and then they crammed the gas hog SUV’s down our throats with gas prices skyrocketing all the while, forcing people to get quick payday loans just to be able to drive to the bank to remortgage their home to fill up the tank. However, they still employ thousands of people that work in their factories, work with dealerships, designers and engineers, and financing staff. These are institutions of American industry, of American culture – two of the most famous sports cars of all time are the Corvette, and the Mustang, both made by GM/Chevrolet and the Ford Motor Co. There have been controversies, yet there have also been great triumphs. GM, Ford, and Dodge (a division of Chrysler) were all prolific producers during WW II, building tanks, planes, trucks, and equipment at an unprecedented rate that couldn’t be matched by any other nation in the world, even the efficiency obsessed Germans. Certainly, they were valuable then.
Just because they have grown decadent, doesn’t mean they can’t get back in shape
True, they haven’t exactly performed their best as of late. However, if they are allowed to die off, then there would be a loss of almost $200 billion in revenue each year, from each company – $600 billion taken out of an already troubled economic climate. That’s a recipe for disaster. Also, what about the 2-300,000 employees that makes up the total workforce of the Big 3? The unemployment rate is already up, and that many more people out of work of what are middle class jobs – Ford, GM, and Chrysler are union plants, and workers make over $20 per hour – would be a crippling blow to the economy of the entire upper Midwest. The manufacturing base of the United States would be all but gone, as small as it is already. Let us hope that our lawmakers have the sense to give them the quick payday loans that they need, because the emergency funds would do them, and the nation, some good.
One should look at the employees that are in use by the motor vehicle companies, they just like everyone else need the job they have in these hard economic times. I think the government should bail them out because if those companies crash we are going to face Depression like unemployment rates!
I think the auto bailout is one of best ideas the government has coughed up on the road to economic recovery. However, with the way things are going, people are out looking for the most gas-efficient car and more wallet-friendly when out purchasing a car. Automakers will also have to make some changes of their own to facilitate the central purpose of this bailout. They will need to get more eco-friendly cars ready for the market.
Okay maybe I’m just not fully understanding the bail out. They need the bail out to stay afloat and keep thousands employed right? Well, okay say they do all that, how are they gonna continue to profit from the American’s that don’t work for them? The ones that ARE losing their jobs or source of income as well? Out of the top 10 cars the Environmental Transport Association, which raises awareness about the impact of excessive car use, listed that were Eco friendly,the only one from the “Big 3″ was the Ford Focus. Okay so the “big 3″ are top leaders in the auto industry and because they are so huge if anything were to happen to them, the effect would greatly be seen through out our Nation, BUT, are the vehicles being produced doing good for our environment and our future? Or is that just something we’ll have to deal with when it happens? I’m not saying give them the boot, but like Obama said it’s time for a change, maybe they should at least make their cars more Eco friendly and less costly during the process.