I read an article that alluded that Congress was talking of putting some conditions on the money that were going to be unpalatable to car companies. I highly doubt it's in their power to impose these types of measures. I agree with you however. I think high six figures is way too high. After all, $999,999 is high six figures. They're not worth that much.Originally posted by: RightIsWrong
I think that we should do it on one condition:
1. No one on the board of directors or the executive committee can take a single penny more than a "fair" salary until the loans are repaid. No bonuses, no stock that they can resell at the first blip to make untold millions on...nothing other than a salary that can be no higher than the upper six figures.
Let's see them finally put their money where their mouths are. Either this money will help you do what you are saying it will or you just want to steal from the taxpayers. If it is the former, they should have no problems accepting the terms. If it is the latter, well....it sure as hell isn't the former.
From your link:
I agree. I don't think the public in general when confronted with the idea of the prudent letting them die vs some extremely whiny, loud michiganers will mean anything else. This election is a great time for the Big 3 to bitch and whine.Originally posted by: Exterous
If any party voted against this right now they would lose Michigan in the election this year. If the big three tank - so does most of Michigan (worse that we already are) and the residents know it. I am not saying its right or wrong but I can tell you that both candidates are pandering to the concerned auto workers of Michigan with campaign slogans telling us that they will 'revitalize Michigan's auto industry' so they can get their vote
I am crying, literally tears down my face.Originally posted by: Ktulu
GM and Ford don't just want government loans out of the blue. Thanks to their current stock ratings they can no longer obtain no interest loans, they're stuck paying for high interest loans. That's all this is about, THEY DON'T WANT A BAILOUT. All anyone on AT wants is for these companies to go out of business. But aside from making SUV's and Trucks just like everyone else, they're also doing alot for fuel economy and alternative fuels. You guys seriously need to get your heads out of you asses. True their management has done alot to fvck up their situation in the past but I only see nothing but good things coming down their production pipeline if only people would start to reinvest.
What's this about ironing??Originally posted by: cliftonite
One of the biggest partisan fucks calling someone else a partisan fuck, oh the ironing.
We did the 'let's make the guy who messed up have to deal with his mess'. It was 2004.Originally posted by: Zedtom
If the government approves this who has to sign the legislation? Does the President have to give his approval or is this in the hands of congress?
Did the FreddieMac/FannieMae bailout have to go through the oval office?
The reason I'm asking is because if all of these decisions backfire, someone is going to get blamed. If that blame is going to handed to the next President, than I want that to be John McCain.