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News 'Big 3' bailout: senate showdown looms

'Big 3' bailout: senate showdown looms 'Big 3' bailout: senate showdown looms

Submitted by Cap Hill Junkie | 1 year ago

Detroit Free Press - Dems support, GOP senator says aid would be 'sending money down the rat hole.'

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Phaedrus (Libertarian) - 1 year ago

There are companies out there that can take over and rework the infrastructure without "restart".

If we pretend that Toyota and Honda have no assembly plants and that other successful companies don't exist we can then talk about the total reset that would exist if these companies failed. The "whole industry" is not set to fail as these companies are.

There are even American companies, smaller definitely, that operate at a profit and can set the reset button effectively on these companies without having to continue to throw good money after bad.

The reality is these are three of the poorest run companies in modern history. For decades they have taken at least a $1000 loss on each vehicle sold and yet we continued to give poor loans to keep them afloat. Banks who gave the loans were foolish, we are foolish to continue these companies' painful downfall and when will it end? Next year when they again cannot meet operating costs by the tune of $25 Billion each, do we again give them the money? At what ultimate cost?

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OneFortyFive (Independent) - 1 year ago

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Enough is enough. We can't keep throwing good money after bad and giving welfare to the poorest run … Show full comment

That would risk pushing the restart button on the whole industry. When my cpu is hung and i shut down hard as a last resort, i do so with fear of what might result, and that's the case here.

The legacy costs could be overwritten, the crappy models could be deleted, and the new sysops could manage just fine, but it's a pretty big gamble with a high probability of significant short term pain.

My inner theorist says it's time for the forest fire, but my 'middle class liberal, well-intentioned blues' (name that tune, without resort to google) admittedly lack the brass.

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Phaedrus (Libertarian) - 1 year ago

Enough is enough. We can't keep throwing good money after bad and giving welfare to the poorest run companies in the US.

Let them merge, let them get new leadership, let them fail if necessary. The auto industry will survive, there are many auto makers in the US making a profit, unfortunately they are from Japan, Korea, etc. But there are some small American companies that need to be given a shot at competing rather than giving welfare to the big three.

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