I am amazed at what a great deal of attention these corrupted companies are getting.
Did you know that
One of ten jobs is automotive related.
20% of all sales in this great country are automotive related.
Michiganders eat drink and sleep automotive. (Had to put that in for the Michiganders)
Well the question is should they get a slice of the lie I mean pie. Its not like I am saying that they should get a piece of the pie but coming for a Michigander it would be a devastation ripple affect that will lead to the biggest American crises in history or maybe not I really am not sure.
Another question is how much money is enough to help them stand up on there feet? Well that is unknown. If you think 20 billion or even 50 billion is enough you are NUTS.
How the hell are they going to repay? They don't even have the answer to that one.
With the why GM is burning through cash this bailout wont last a year, and they what? Ask for more (that's what I would do free cash can't go wrong).
Why isn't anyone telling the big three if your going to get the money you have to make better cars and make them fuel efficient so people can afford to drive them? I have the answer to that no one cares.
I personally am in the middle and have no idea if they should. One second I say yes and then another I say hell no. But I really never got a good explanation on why they should or should not get a bailout.
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I've lived in West Michigan my entire life and while the auto industry is not nearly as important to us as compared to the Detroit region, it would be a deathblow to my state. While I'm torn about supporting them financially (when was the last time Ford or GM posted sustained profits?) I do not think it is just to bail out failed banks but not other corporations that are critical to the USA's economy as a whole and of the utmost essential for Michigan's survival, seeing that we never recovered from the previous recession.
The Big Three's management needs to be kicked out on the streets and there needs to be a MASSIVE overhaul of their business model but letting these giants go under and the resulting unemployment is only setting things up for an even worse future for the United States, let alone a major stock market crash.