Should We Taxpayers Bail Out Gm & Chrysler A Second Time?

[Patrick H. Crowe]

I'd consider a second bail out if the following conditions were met:

1. This will be their last and final request. If it fails go strainght to bankruptcy court.

2. Until all the bail out funds are fully repaid the following conditions apply:
A. All compensation packages are frozen.
B. All compensation packages are capped at $150,000 a year.
C. All compensation packages decrease by 10% every 90 days till they bottom at $50,000 a year.

3. To those who claim this will get the really talented folks to finds jobs elsewhere I say two things. 1. In my opinion most of the REEEEAAALY talented folks saw this coming years ago and are already long gone. 2. If there are folks left who could get better jobs elsewhere I'll happily write the first line of their resume: "I help put GM into bankruptcy."

Please bare in mind that there's not a teacher, nurse, truck driver, postal clerk, social worker, retail clerk, house painter - - need I go on - - - who wouldn't be delighted at 150K a year. Let's not reward greed and incompetence again.

To simply pass out multi billion dollar bail out packages to folks who have proven themselves to be grossly incompetent managers (workers) is a hoax. Do not do it.

Patrick H. Crowe

 

[pitzerwm]

Your and Obama's meddling with capitalism is what caused the depression to last as long as it did. The only thing that got us out of it was WW11, since there is Iran on the horizon, maybe we have a chance. The socialist always think that they can run the world better than anyone else, and in the end capitalism wins out, even China has figured that out.

 

[Greg Pack]

Manufacturing does not exist soley for the purpose of providing jobs. If they can't convince private equity that they can survive they should be allowed to go under. The board and shareholders will be punished by making their stock worthless. The recovery and rebuilding process can begin again. IN ten years everyone will be much better off.