Well, I guess if we can bail out the Stupid Banks, then we can Bail out the Greedy Auto Indus.

Can you tell, I am not amused.

I thought it was nice of car manufactures to ask for 4 billion more and they said they have to have it soon, in return they will cut 1/3 of their work force close factories and close 1200 dealerships which is what 12000 more jobs, if they get the 4 billion, curious has anyone heard that the excs would cut their outrageous salaries? nooooo cant do that, that would make sense

Didn't I read on CNN that two of the execs have agreed to work for $1 a year? Ford and I think Chrysler? Not sure about the second one though. I think all of them shoud do that.

FYI -

The AP just indicated that a Senate "leak" (Harry Reid (D), NV) has shown that there will not be enough votes to approve the Big 3 bailout.

This is really bad news for the workers and the economy in general, though the CEO of Ford has opened the books on the actual financial status of Ford, and it indicates that Ford does not really need the money. Of course both GM and Chrysler are really angry over this move by Ford.

I wonder if Ford is trying to trim the domestic competition.

Yeesh.

What a mess.

Just so you all know, I am heading to D.C. to get us all some bail out money so that we can pay for our health insurance. But first, I need to keep digging uder the couch for money change to buy AveGas.

-Vic

After their long drive in the hybrid car to D.C., the GM CEO also agreed to an annual salary of $1.

I guess the ride in the hybrid was a "tough love" kind of ride...LOL.

-Vic

One thing about the bailout that bothers me is UWA. One of their reps was not giving an inch about their "job bank". Apparently, when they don't need a worker, they lay them off, but put them in a job bank which pays them $31 an hour for not working.

HIs reasoning was that these are highly trained workers, and they don't want them going somewhere else! That is just not right!

The fat cat execs are a problem, but the union is a big problem also! They've negotiated the companies into this situation. There needs to be some realistic restructering going on in this industry.

I just saw someone on TV tonight, can't recall who, say that the big oil companies should bail out the Big Three automakers. Because each is reliant on the other. Makes sense to me.

I was watching the news while I couldn't sleep overnight and it seems that the Big 3 haven't been totally forthcoming and honest with us (gasp! )....whoathunkit?

Apparently they are also asking for a chuck of the original bailout $$ that was approved before they decided to ask for their own little bundle.

Someone also said that even if they get the $$ they are asking for it won't prevent them from filing Chapter 11 within the next 2 years. The President of the UAW was also speaking....said that GM would go out of business if they didn't get the money. Maybe they should have thought about that years ago while they were living "in the moment" and not planning for the future. Coming from a UAW/GM family I cannot believe I just said that!!

And the CEO's are thinking they're fooling everyone by offering to work for $1 a year now......please, give us a little credit for having a brain. They just want to keep all their "perks" and their health care benefits. You can't have that unless you collect a paycheck. Honestly, I think $1 is way too much......

Where's my bailout?

The latest unemployement numbers are out.

When combined with existing unemployement numbers for 2008, the total unemployment numbers for 2008 are at least 1,957,000. That's 1,957,000 people who have lost their jobs this year alone!

We are looking at an annual unemployement number that is the highest in 134 years.

134 YEARS.....

The bail-out will happen because adding numbers to the unemployement line would be a disaster.

Ughhhh...

Something has to give,..., and I hope that it is not our entire economy.

-Vic

134? Are you sure it isn't 34 years? 1974 was horrific, but still nothing compared to the 1930's... Actually, the panic of 1873 was because of similar bank failures. Maybe it is 134 years. I still find it hard to believe that 1929-1930 wasn't worse.

Tom