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SIPEDO SEZ

by sipedo from Brooksville, Florida

Last Post 13 hours Ago


Does Alabama's Senator Shelby want to see the American Big Three fail?  He's skeptical of a bailout plan for Ford, GM and Chrysler.  But WHY?  No solid answers are given.

Some seem to think Shelby DOES want them to fail.  Alabama is home to foreign owned auto plants, Mercedes, Hyundai, Honda and Toyota.

After all, UAW employees pay some pretty hefty taxes.  So, why is 25 Billion so hard to get for the Big 3?

Would the demise of Ford, GM and Chrysler be a boost for Alabama?  Is that what Shelby, a Republican is up to?

Think about this, what auto companies contributed after 9/11?  FORD< GM< CHRYSLER

What about the others?  NOT ONE FOREIGN AUTOMAKER CONTRIBUTED to help the US after 9/11.

Do Autoworkers make too much?  If you actually lived in one of the northern states, like Michigan, Ohio, Indiana, Illinois, New York, Pennsylvania, Wisconsin, Minnesota and more where taxes are higher than in the south and the cost of living is also higher, then NO.

The auto industry is not the reason the economy is tanking.  Anybody who thinks they are is just plain stupid.   Yep, stupid is the right word.  I think I'll say it again.  STUPID.

Should there be a bailout of our auto industries on the US?  Well, if we can give AIG over 100 billion dollars in loans, which is FOREIGN OWNED, then YES!  What is the problem in Washington?

I'll tell you what it is.  STUPIDITY.  It's not a disease, it's a choice.
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Ericjhach read my blog view my photos
Nov 21, 2008 | 5:57 AM

To give taxpayers money to the big 3 IS a stupid idea. Those companies make their money from sales and if noone is buying then no ammount of money will help them.

sipedo read my blog view my photos
Nov 21, 2008 | 7:40 AM

your statement is idiotic based on what I blogged on

you have not made one valid point

in the future, refrain unless you can tackle the tone of the topic

try again Eric, I know you can do it!

Ericjhach read my blog view my photos
Nov 21, 2008 | 7:55 AM

My statement is true, it is a stupid idea to bail the big three out. Just like the banks, its not the governments fault they(banks) made bad loans, its not the governments fault that sales are down for the auto industry. What does the government have to do with the fact noone wants or could afford to buy a new car? Nothing. So again my dear sipedo, reread and comprehend the statement, yes bailing the auto industry out with taxpayers money is a stupid idea and that senator was right if he was one of the brave and smart few that say NO.

Abunai read my blog view my photos
Nov 21, 2008 | 8:18 AM

Ericjhach.. Close but no cigar.

It certainly IS the government's fault that the banks made bad loans! When Franks and Dodd offered to cover that paper, it gave the banks an opportunity to lend OUTSIDE of capital assets! When the attempt at socialized home ownership failed, the govt. is left to follow thru as the "co-signer" they told the banks they would be!

Not only did the banks pass out these loans, but govt. FORCED them to (Clinton/Reno days)

Fact is the DEMOCRATS lead the charge to the housing problem from fillabusters to then becomming chairmen of these committees once the majority.

Personally, I would like to see a 9/11 Commission style investigation into Fannie and Freddie! Had it TRUELY been a Republican fault, the Dems would have been demanding it!

Lets not try to kid ourselves here!

Ozzy_Man read my blog
Nov 21, 2008 | 8:20 AM

I lived in Pa. during the start of it becoming the RUST BELT and watched greedy unions close shop after shop, a lot supporting the big 3, just to move them out to the south west.

People up there are hurting big time and have for awhile. Nothing DC does is going to help that. Ever since Reagan was in office jobs kept going away and it hasn't stopped in 3 decades.

The big 3 need to file a bankruptcy under the conditions that they cut wages to that of related work in this country, i.e. machinists, fabricators and even those working in Jap auto companies on US soil.

CEOs need to step down, put replacements in for a decent wage and not millions in bonuses.

Follow this path and shoring them up with tax dollars is feasible. We did this before and it just went to the unions and CEOs.

Washington needs to start taxing all foreign cars sold or coming into this country. PERIOD!

The taxes to buy a US made car from the big 3 overseas is astronomical! The DC dimwits allow it and give tax breaks away like candy to trick or treaters!

Like I said, hang on, this ride is FAR from over!

FlaNative read my blog view my photos
Nov 21, 2008 | 8:41 AM

If you allow the big 3 to file Chapter 11 instead of a bail out, the union contracts can be renegotiated.

Giving them a bail out while still paying $75 an hour will require ANOTHER bail out in 6 months!! The ONLY way to fix this is Chapter 11.

Abunai read my blog view my photos
Nov 21, 2008 | 9:25 AM

Ozzy_man.. taxing all foreign cars is not the answer. The rust belt you speak of died because we spent YEARS taxing foreign steel in order to prop up domestic steel that was wrapped up in the Unions. The foreign folks simply raised the tariffs on other goods to make up the difference, it hobbled our export capacity, and all in the name of Unions over everything!

Its long overdue for America to get BACK to fair pay for a fair days work! Democrats have been neck deep in labor/union antics, to the point of even the Teamsters making the Sopranos look like the mickey mouse club!

Greed for money and power has taken over honest ambition. Democrats even thinking they can tell people when bankrupty is on or off the table is a key indicator that they do NOT have America's interest at heart.

dks75 read my blog
Nov 21, 2008 | 10:10 AM

"What about the others? NOT ONE FOREIGN AUTOMAKER CONTRIBUTED to help the US after 9/11"

Actually it's not hard to find VW, toyota and honda on the foundation news website. Although VW was the only one to do so through their own foundation, toyota and honda just donated to the red cross and united way. Surprisingly a automotive parts manufacture on the list was French and the MLB team is the blue jays, although the list was most likely just the top donors.. Personally I cant breath when I stick my head so far up my behind.

The big three or any import have the lists of what they've donated on their sites for 9/11 anymore, it's kinda getting difficult to look. But the stuff they do have on there they do give back to America, millions to red cross disaster fund, hyundia interest seems to be pediatric cancer, they do have their own US foundation.

BrendaG read my blog view my photos
Nov 21, 2008 | 10:13 AM

You know I think we could consider a bail out package, in the form of a loan that must be paid back! NO MORE FREE HAND OUTS! Why can't they pay back what they are given?

I think the big three...

1. Over pay their employees
2. Charge way too much for their vehicles!
3. Management needs a serious reality check in the form of severe pay cuts!

How many Americans do you know can afford their hefty $30k + price tags? I think they have priced themselves out of the market if you ask me!

Ford and GM also have their fingers in the mortgage industry too! Chrysler makes inferior vehicles that they don't stand behind, it wouldn't bother me in the least to see Chrysler go under.

BrendaG read my blog view my photos
Nov 21, 2008 | 10:18 AM

I think the bank bail out nonsense needs to be paid back too! I didn't agree with this bail out bs then and I don't agree with it now!

sipedo read my blog view my photos
Nov 21, 2008 | 1:21 PM

All The big 3 are asking for is LOANS, not BAILOUTS.

Eric, you second answer was better.

However, is the Senator from Alabama crossing his fingers that the big 3 will go under?

Is Senator Shelby persuading his colleagues to deny any help to the big 3 to benefit his own state?

On bank bailouts, Chase got 25 billion, I told my brother, who has his mortgage with Chase to go and renegotiate his mortgage, they ARE working with him, and will reduce his mortgage by 40 percent. That is the first positive news I have personally been privy to. I am now going to approach Wells Fargo with the same attitude, since they have received bailout money too. If they won't bend, I will walk away from the mortgage and file bankruptcy.

jeokar read my blog
Nov 21, 2008 | 1:29 PM

The Big Three are expanding overseas. That's where any Bail-Out money will go ... and into their illegal offshore private bank accounts. AIG was bailed out because the Chinese own most of it. The Banks to buy up more little banks.

I am POSITIVE none of you fellows sceaming for an honest days pay for an honest days work do so for minimum wage or just $10-$15 per hour and Emergency Room Health Care.

I say make everyone getting any of that $700 Billion pay back every cent with at least 5% interest compounded quarterly. Let the CEOs, CFOs and FOs work for nothing until they get their industries out of the mess they created. IMHO Thank You For Your Indulgence

AthenaZeusVito read my blog
Nov 21, 2008 | 1:39 PM

I am conflicted over the bailout/loan to the auto industry. On one hand, I would HATE to see all of their employees on unemployment. On the other hand, where is the incentive to run a successful business?

I would much rather the government give incentives directly to the CONSUMERS who purchase GM, Ford or Chrysler products. That way the consumers are rewarded for buying American, it keeps the Union out of it and it keeps any bailout money out of the CEO's hands. The fact that they traveled to Washington in their luxury jets really, REALLY burns me....

But I have a question for you Sip... is it really wrong for a Senator to do what is in the best interests of his state and the people who voted him into office?

sipedo read my blog view my photos
Nov 21, 2008 | 4:07 PM

Good point Athena on CONSUMERS. We are the ones that are most hurt.

In answering your question, in general to your question, a "Qualified No", it is not wrong. Now let me qualify that. If that Senator is acting for the best interests of his own state, but in a way that could harm another state, or all other states, then it becomes a moral issue, and then the answer would be YES.

In this particular instance, IF Shelby is acting as such, then he would be wrong in his statements, his leadership and his actions.

Buttermilk-Slim view my photos
Nov 22, 2008 | 3:41 AM

I'm sure no one wants to see the Big 3 go under. But I still say no to a 25 billion bail-out, and here is why.

How long do you thing it will take them to go through that amount of money? 3 months? 6 months? And then where are they? Right back to where they started. The big 3 are hemmoraging money almost as fast as the government can print it.

No one wants to see American workers lose their jobs. But what is wrong with letting the big 3 file bankrupcy, and reorganize? Yes, it will be painful, but the workers will keep their jobs and make the company more competitive. Cut CEO's wages and renegotiate the contracts with the UAW. I believe they will then emerge a stronger and more viable operation. Just my opinion.

sipedo read my blog view my photos
Nov 22, 2008 | 7:17 AM

Okay, I guess nobody understands so here it goes.

This is NOT a bailout. They are LOANS. Loans that are to be paid back.

All of the big banks that each got upwards of 25 Billion dollars have no submitted ONE plan for repayment. NOT ONE.

AIG has not submitted a plan, but weasled over 100 Billion out of the taxpayers so they can continue with their foolishness. AIG is foreign held. Let me say that again, FOREIGN HELD.

So, while others are bilking the taxpayers of the other 675 Billion with no plan for repayment other than "we'll pay you back", there are no guarantees.

So, while some would continue to bash the Big 3 in the lobby, Chase, Wells Fargo, AIG and more are fencing in the warehouse.

Based on the current indicators, every argument here does not hold air, let alone water.

DeborahLakeHelen read my blog view my photos
Nov 22, 2008 | 11:32 AM

Your Puppy-girl looks like she just got busted with her paw in the "treat jar"!
So when will they lay the "big spreadsheet"out for all to see? I don't think they have one. I
believe they just want to dole out their multi-million dollar, end-of-the-year bonuses. They ARE
a bunch of weasels, and the American People are their chickens!

FloridaBrit read my blog view my photos
Nov 22, 2008 | 11:39 AM

im not against helping them in some way, however Id want assurance that all the jobs they shipped out to Mexico and canada etc will be brought back... And as my buddy Deb says-let's all see the books first....

Buttermilk-Slim view my photos
Nov 22, 2008 | 12:41 PM

Nowhere in your original post do you use the word "loan". Not once.

In your first paragraph you yourself even say (He's skeptical of a bailout plan for Ford,).

Then again in the last paragraph you say (Should there be a bailout of our auto industries on the US?)

And suppose the American taxpayers "LOANED" the big 3 automakers 25 million. How much good do you think that will do when they are spending that much every other month?

sipedo read my blog view my photos
Nov 22, 2008 | 1:10 PM

Sorry, I thought it was common knowledge that they were LOANS. But I guess everyone doesn't read up on everything.

Yes Deb, let's see the spreadsheets, but not just on the big 3, on everybody.

Butter, it's not 25 million, it's 25 billion.
25 million wouldn't even cover one week of payroll for Chrysler's 33 thousand employees.

The "on" was a type, should've been "in", but they put it up on the community page before I caught it.

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sipedo

There is nothing wrong with anything anywhere anytime anyhow?

Member Since: 10/4/2006