Should Congress allow GM to file for bankruptcy?

Let the big three go belly up.  They haven't made a descent car in decades.  And look how silly GM is trying to sell Cadillacs to a younger generation by having some bimbo asking "When you turn it on does it return the favor?"  They are simply out of touch with real world.

If the government won't loan them money, I say that the average working class people should buy a piece of the company. Once the factories are closed, they are gone. Why don't people get it? It's okay to give the Wall Street wizards money when they fail, but we will allow American manufacturing to die.  If we had universal health care like Japan, healthcare costs wouldn't be added to the cost of the car. This is just another attack on the American working class brought to you by "haves".  I want my taxes going to save our industries not to Halliburton and the dogs of war!

I think anybody posting should tell us what they do for a living.  I am self employed and I have to fund my own retirement and health care.  I have a wife and two children and yes, it is not free.  I think the UAW and the associated employees who want a bailout should personnally guarantee any loan they get from the government.  I do not feel I should fund their over inflated salaries and benefits packages.  For 20 years I drove an Olds, then when it was time to trade for a new car, I drove my first Lexus.  Since then I have test driven numerous American made cars, Ford, GM and Chrysler.  Not one from the Lincoln to the Cadillac even come close to price and quality of a Lexus.  If the Unions can not compete with the quality then they need to go away.  Bankruptcy should be their only opportunity.

It's a cold truth, but I see this as a market adjustment to the current financial crisis. They simply can't sell cars in the current fiscal environment. Giving them this cash will do nothing to change that fact. They need to either streamline considerably in both pay and benefits, as well as provide competitive product, or go into bankruptcy and accomplish the same thing via that route. Either way, they cannot continue on as they are.

I really do feel for the families involved in this mess, but I don't believe a bailout will solve the problem. If the current crisis continues for an extended period of time, they will burn through this cash, and will soon be coming back for more as they have no plans to address the problem. They are spending more than they are making, much like our current government.

The auto companies should file for chapter 11 bankruptcy.  That way they can renegotiate the uaw contract.  Even if the union workers and retirees must take pay cuts for the company the survive, it must be done.  We cannot just write a blank check to the companies without assurances that the loans will be repaid.

The companies probably know what they need to do to save themselves.  Looks like the only way is to force them to to it.  The can renegotiate all debts owed, union contracts and other contracts under bankruptcy.  They can demand better terms or threaten that they get nothing if they must file under chapter 7.

Bankruptcy is the best way to handle this (assuming the Gov't can't force a deal with the oil companies, which they won't even attempt).  These companies are failing of their own accord.  Poor business-models based on over-expansion of brands, poor quality product , "push" marketing, in addition to allowing themselves to be bullied by the unions, and that's a recipe for self-destruction.  I'm sorry.  I know people will lose their livelihoods and their pensions, but this happens everyday.  Maybe they should have invested elsewhere or made alternate savings arrnagements.  This day has been long in coming.

First off America, how do you get to work.  As a professor at a nearby university, I taught students that we would be in this mess many years ago because we depend so much on gasoline when we have and have had the solution in our own back yards. Diesel engine were originally design to run on vegtable oil. NOT DIESAL fuel. The auto manufacturers could redesign the engine (all engines) to run on this oil which might say the USA is one of the leading country in this product. So what the big issue, start using your brains instead of a place to sit your hats on, get with the solution and lets run with it.

Oh you are just jealous cause you can't get the bimbo or the car.  Americans always want it bigger and better than anyone else.  That's why we have big cars, that's why they are still making the big cars.  You can't do farm work with cars, you need trucks!  Foreign trucks don't cut it!  You need a Ford or a Dodge or a Chevy! 

and by the way i dont agree with the wall street bail out ither it didnt work did it. I am still seeing falls daily. give the money to the people I say let them get everything else on track by being able to spend money again funny how wallmart & mcDonalds are doing fine becuase of there low prices isnt it i told everyone this befor it happend i said if you dont give money to the middle class we will shop at wallmart and buy cheap fix it yourself books no more joe the plummers, small buisssness, car makers, vacations and so on and so on and so on i see i was right so maybe gov will figure it out someday maybe when wall mart is the highest ranking money making store in america!  let car makers go bankrupt  they had no plan for what to do with money until they do have a plan and want to sell those corprate jets shouldnt get a cent

Are people crazy, in opposing a US car company loan? Do they want to lose millions of more jobs at a time when we're trying to keep the economy from totally tanking?  If it's Republicans who are opposing this loan, their party should tank, along with the U.S. car companies.

And as far as Representatives with foreign car makers in their districts or states, who want to help them be rid of their American competition; they're traitors!

Are people crazy, in opposing a US car company loan? Do they want to lose millions of more jobs at a time when we're trying to keep the economy from totally tanking?  If it's Republicans who are opposing this loan, their party should tank, along with the U.S. car companies.

And as far as Representatives with foreign car makers in their districts or states, who want to help them be rid of their American competition; they're traitors!

Buy American!  The job you save could be your own.

When did our nation become the Soviet Union?  If a company can not run itself, it should not be the responsibility of the government to take over, nor should it be the responsibility of the people to pay to rebuild the company.  Hundreds of companies go under, or have to cut back and rebuild.  Bad business should not be "rescued" by handing them a check, they got there themselves, they should get out themselves.

If GM files for bankruptcy a million retirees will be screwed out of their health and retirement benefits, not to mention current jobs lost   - 3:54 pm EST on Wed Nov 19, 2008

So?  More than a million MILITARY retirees got screwed out of their health and retirement benefits during the Clinton Presidency.  What's the difference?

Let all three file for bankruptcy if need be.  Chrysler is privatye owned to begin with.  I am working for a steel company that has gone down this path and we came out leaner and more efficient and are still in business today.  Bankruptcy does not have to be "out of business."  Yes there will be changes and some of them drastic and not everyone will be happy.

The amount request is only a temporay stop-gap and will not be a fix.

No.  It will cost families too many hardships.  They are the ones on the short end of the stick.  Have the ceo's cough up the money.  And best of all have congress cough up all the raises they have given themselves, private jets, all the  extra cars,extra houses and wives fur coats for the surplus.

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No.  It will cost families too many hardships.  They are the ones on the short end of the stick.  Have the ceo's cough up the money.  And best of all have congress cough up all the raises they have given themselves, private jets, all the  extra cars,extra houses and wives fur coats for the surplus.

I hope that the Big 3 Do not get any bailout. I hope they don't get one dime of taxpayer money. If a business cant succeed then they go out of business. Simple as that. If you say the whole industry needs help, then you need to take 25Billion and give it to EVERY Automaker in the United States. Toyota, Honda, Hyundai , and others aren't having the same problems as the Big 3. You have to wonder why that is. Most Auto Makers are "Managing" just fine in this down economy. Let Ford, GM, and Chrysler file for bankruptcy. Its what is supposed to happen when you run a company into the ground like they have. Bailing them out (for GM its again) will only send the wrong signal.

"A government big enough to give you everything you want is also big enough to take away everything you have."  The majority of Americans were against the first bail-out and it happened anyway. When and where does it stop? They are using our money, what if all Americans quit paying taxes, what would they do then.

It's getting close to the time when we need to envoke the premise of the 2nd Amendment.