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Auto CEOs Tell Congress Why They Need $25b


 
   

General Motors Corp. chief executive Rick Wagoner told the House Financial Services Committee that collapse of the U.S. auto industry could lead to a loss of 3 million jobs within the first year. (Nov. 19)

Canal: News & Politics
Añadido: December 31, 1969 at 5:59 pm
Autor: AssociatedPress

Duración: 01:52
Puntuación: 4.71
Reproducciones: 16165

Etiquetas: $25b  auto  bailout  ceos  congress  

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floorwalker6 (December 31, 1969 at 5:59 pm)
what about the EV1 that GM took back from everyone!!! FU*K GM and the stupid volt wont even work WTF STUPID FU*KERS
comequietlytothecamp (December 31, 1969 at 5:59 pm)
I think its BS that we even gave anything to the financial sector, the government was stupid for approving it without any strings. They threw a 200 Billion party in the Caymens saying, not to worry, business as usual at AIG, its like, yep....same greedy assholes they always have been. They should have set up terms with them just like the auto industry. BTW, to me.....$25B isn't really too small of an amount. $700B was ridiculous.
csrocker101 (December 31, 1969 at 5:59 pm)
We gave $700 billion dollars to the financial sector with no strings attached or conditions. They send their executives on lavish vacations, give huge bonuses to their employees, and now need more money from the bailout. The auto industry needs about 1/50th of that and people are complaining. It's such a double standard that we give nearly a trillion dollars without conditions to the financial giants but yet we bitch and moan about giving such a small amount in comparison to the car companies
comequietlytothecamp (December 31, 1969 at 5:59 pm)
What happened to if you open a business and it fails then your business is closed?! And I am sorry, but if you are going to go to congress to beg for money because you will go out of business if you don't get it, should you REALLY be riding in your own private jets to get there?! Just because people didn't buy their cars doesn't mean we need to punish the whole country. (FYI, Ford had the #1 selling vehicle in the US, the F-150)
63ghiavert (December 31, 1969 at 5:59 pm)
ANYONE UP? I NEED SOMEONE TO TALK TOi liked this video :) ej
airrunweskerII (December 31, 1969 at 5:59 pm)
The real question is "do we believe in free market or not"?
mko51ss (December 31, 1969 at 5:59 pm)
True story.Today i was walking through the parking lot at work this guy couldnt start his car.I allmost stopped to help cause im a mech.But it was a Honda so i kept walking.
allgoo19 (December 31, 1969 at 5:59 pm)
kentsuper100:That probably won't happen.There have been rumors that Toyota will buy GM, and they can do that if they try. But there's a hidden cost stopping them from buying, and it's so huge that considered one of the biggest reason why GM is unable to compete against other auto makers.It's the health care cost to the current workers and the retired workers.
allgoo19 (December 31, 1969 at 5:59 pm)
hydrojerk:You are assuming auto industry will recover and will make enough profit to pay it back.They have been not only unable to keep the balance but losing money for many years. How realistic is that?You know what's more realistic? After they run out of bailout money in several months, they'll be asking another, and probably bigger money.
allgoo19 (December 31, 1969 at 5:59 pm)
The companies don't pay tax for the money they spent for the material, it's deductible.Foreign auto makers who have the factory in the US pay the same tax rate, so it's not a good excuse.