Big 3 Seek $50B In Taxpayer Money Because They Don't Know How To Do Their Job Right.

Big 3 seek $50B in fed loans

McCain now backs help for car makers; Money sought to retool plants

Detroit's Big Three automakers are planning an aggressive push on Capitol Hill as they seek up to $50 billion in low-cost loans to speed the development and production of more fuel-efficient vehicles.

General Motors Corp., Ford Motor Co. and Chrysler LLC would use the money to help pay for retooling of older assembly plants and developing advanced technologies.

The lobbying effort comes as the car makers face dramatically higher fuel economy mandates and consumers are demanding more fuel-friendly options in an era of high gas prices. The Big Three are revamping their product lineups to include smaller, fuel-sipping models.

An energy bill Congress passed last year authorized but did not fund $25 billion in direct loans to help automakers meet the new fuel standards. The financially-strapped companies now want additional funding, but it is not clear how much they hope to obtain.

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I don't agree with this proposed action, in my opinion if you can not operate your company at a profit level and sustain your business model YOU DESERVE to go out of business.

That is what "should" happen in a capitalist society driven by market demands.

Don't forget the big three automotive companies just laid off huge numbers of people and now also are probably salivating over this proposed bail out.

It's easy money.

The executive officers at any of the big three are a total embarrassment to the business world and everyone is buying into the mystique of their excuses.

Now us here at Detroit Daily Dirt...the American auto industry provided a crappy product for decades, provided crappy service for decades, laughed at the possibility of imports taking a lions share of the market.

I also hold the auto workers union, the UAW responsible for half of this debacle.

This "union" lost it's balls decades ago. They kept problem employees on site for years, take a galling amount of pay from the employees and stood by and did nothing while it's own membership population has been whittled down inch by inch for decades....the UAW is a total paper tiger that does nothing but raise the cost of the product.

What happens to you or I if we are business entrepreneurs and are failing in our task?...we certainly don't get a billion dollar helping hand from the taxpayers (i.e. the customer) when we can't sell our widgets.

Can you imagine your grocery store asking you for $100 dollars for a loaf of bread because they have upper management that doesn't know it's ass from a hole in the ground?

No you can't and neither can I.



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