Another bail out- auto industry??

iVillage Member
Registered: 10-09-2008
Another bail out- auto industry??
26
Wed, 11-12-2008 - 12:24am
I think we can all agree that these bail outs are getting really old. Now we hear about the probability of a bail out for the auto industry. What are the benefits, for the American people, to doing this?

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iVillage Member
Registered: 04-09-2007
Wed, 11-12-2008 - 12:34am
Obama talked about loaning them 1.5 billion to upgrade their plants. They asked for 25 billion because they're bleeding cash. I think they'll get their cash, in the form of a low interest (no interest???) loan, but only if they come up with a better plan than using it as cash till they "get back on their feet".
iVillage Member
Registered: 04-24-2008
Wed, 11-12-2008 - 5:29am

Jobs?

iVillage Member
Registered: 04-24-2008
Wed, 11-12-2008 - 6:32am

Another thought.

iVillage Member
Registered: 03-19-2003
Wed, 11-12-2008 - 6:58am
The benefits to the American people is that so many people get to keep their jobs.
iVillage Member
Registered: 08-25-2008
Wed, 11-12-2008 - 11:30am

Notice that it is the democrats that are calling for the bailout of the auto industry.

iVillage Member
Registered: 04-09-2007
Wed, 11-12-2008 - 6:21pm
Aren't their pension funds insured? Wouldn't we be on the hook for their pensions if they failed?
iVillage Member
Registered: 08-25-2008
Wed, 11-12-2008 - 9:04pm

the pensions are insured, but the medical plans aren't, and the rest of the benefits (and wage concessions and work rules) could be broken.

iVillage Member
Registered: 08-26-2007
Wed, 11-12-2008 - 9:31pm

adding to your post.

iVillage Member
Registered: 03-23-2008
Wed, 11-12-2008 - 9:46pm
I have to admit that when it comes to this bail out, I don't totally get it. Has the $700 billion already been committed elsewhere? Would Congress need to authorize more money for the auto industry or would it come from that initial allotment?

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iVillage Member
Registered: 04-24-2008
Thu, 11-13-2008 - 6:05am

I read as many as 3 million employees nationwide may be laid off if the big three automakers collapse.

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