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Auto Makers Ceos in Washington

Rosie — Fri, 05 Dec 2008 00:41:48 +0000

From what I have gathered, it doesn’t seem likely the auto makers will get any loan from the federal government. Henry Paulson is saying the money was stipulated for financial institutions, not businesses such as the auto makers. The suggestion of bankruptcy and Chapter 7 has been coming up and just might have to be done if the government won’t help. This makes me wonder if the government will help the homeowners keep their homes. Will they suggest to the banks that it’s vital to the economy to renegotiate mortgages so the monthly rates can be lowered? And will this happen before Obama takes over the presidency or not? There is little time to deal with such issues when businesses are ready to fail, more people will be laid off, and homes will be foreclosed on. Yet, it’s almost time for Congress and the Senate to “go home” for the holidays, leaving the rest of the nation sitting on the edges of their seats waiting to hear what will happen to help the situations our nation now faces.

Big 3 Auto Makers- back to Washington

Rosie — Wed, 03 Dec 2008 23:09:33 +0000

Today the news was all about the Big 3 Auto Makers back in Washington, only this time they asked for a loan for $34 billion! They seem to think that will help them keep afloat. They drove to Washington thus avoiding more criticism from using their private planes for the first trip. They blamed the “credit crisis” for the problems they are having financially. They had begun a turn around about 3 years ago and the money they have requested will help them to finish the turn around and become profitable once again. The United Auto Workers Union is also talking to the Big 3 to see what they and the auto workers can do to help the industry get out of their crisis. At least the Big 3 acknowledged their mistakes and are willing to do what can be done to help get back on their feet. There would be millions of jobs lost if the Big 3 would flounder more than they already are. The U.S. would be in big trouble if all 3 would have to close up completely. Unfortunately, some jobs will be lost as some plants will have to be closed down for the time being, maybe permanently. To lose the auto plants will be hardships for many people. More people unemployed would mean more money being pumped into the unemployment insurance programs. This has to be a situation where the government cannot refuse a loan. At least it will be a loan and not a handout.

Big 3 Auto Makers go to Washington for money

Rosie — Thu, 20 Nov 2008 00:26:29 +0000

All 3 of the big auto makers CEOs went to Washington to beg the government for a bailout. They said they are all going under and things will get worse unless the government was willing to help. Yet all 3 came on their PRIVATE JETS. This would be like someone getting food stamps, going to the store in a Lincoln, wearing a mink coat, and buying nothing but lobster and steak. People are going to be angry if they see such a thing. I am angry the CEOs had the nerve to fly into Washington like they did. I heard the news this morning. Most broadcasters on TV were highly disgusted by the practise of CEOs “having” to use their private jets to fly around the country. Somewhere the line needs to be drawn, cut backs need to be taken, and perhaps that one person who suggested they file Chapter 11 bankruptcy was 100% right.