Two days ago I blogged the subject of bailing out the auto industry and asked for comments. Readers responded from across the country (Las Vegas to Virginia, New England to Florida ) to the question asked on November 19, 2008: Should we bail out the big three Detroit automakers? The responses (following) reflect the same ambivalence as currently reported from Capital Hill:
1. No, unless there is a Chapter 11.
2. Yes with restrictions.
3. My vote for the Car Manufacturers is NO BAILOUT. Let them reorganize like all the other big industries, like the airlines etc. etc.
4. I can't believe I'm saying this, but someone should carefully craft a way of letting them hang. There must be a way to chastise them severely, and yet not let the economy collapse. Our railroads exhibited a similar amount of blindness after World War II and they have suffered for it, but they are now surviving and with the energy crunch it's possible they will have a strong re-growth. Glad I'm not the one who has to make these decisions. They are tough, but there are a lot of little guys who if they fail to keep abreast of things they drown. No one bails them out!
5. As a long-time Honda and Toyota fan, I hate that the Detroit guys got themselves into this pickle, but they have a history of getting us into lemons.
6. Yes, but only with caveats -- total change of top mgt. in all 3, commitment to Hybrids, decreased salaries and benefits for workers, markedly lower CEO salaries, and a reduction of dividends to stockholders. If we were in a normal market all 3 should declare bankruptcy and start over
7. No. (Although regardless of what this administration does, Obama will lend them a hand when he gets in.)
8. Not only no but as Albert would have said, hell, no!
9. No bailout for the Big 3.
10. Absolutely NOT!!! I vote NO.
11., 12, and 13. NO.
