I think we need a clarification. From Rogue’s post yesterday:
Seconds later you spoke about being in favor of “loan guarantees to allow [American automotive companies] to retool, I’m much more sympathetic to that because we need more flex engines.”
I said on here when I announced I would be voting for Saxby that I could forgive a lot of his past votes because he was supporting a President that we, as a base, pretty much insisted he support. Part of that, however, was a promise that I would be a lot more vocal about issues we expect him to vote against. This is one.
GM, Ford, and Chrysler are no longer the heart of the American auto industry. Chrysler’s entire operation represents excess capacity in the system. Futhermore, they are now owned by a Private Equity firm, most likely with foreign investors who made a very bad bet less than two years ago. The other two have abandoned Georgia for manufacturing operations.
This industry isn’t the banking system. It won’t affect my ability to do commerce if they have to seek bankruptcy protection. Quite the contrary, they would be much more competitive on the world market if they were able to shed legacy liabilities and were forced to modernize their business practices to mimic that of their foreign competition.
I’m not interested in my tax dollars bailing out GM’s shareholders, Ford’s bondholders, nor Chrysler’s retirees.
And, as a parting shot, “flex engines” are a complete joke.
How much have the Auto Companies offered Saxby?? He’s against it now but he was going to write the Farm Bill to help the small farmers & they got screwed. Saxby’s vote for the Wall Street Bailout was over $2,000,000.00, how can the auto companies come up with that much?
Saxby’s comment from the live chat on the auto bailout:
“The automobile industry has systemic, deep-rooted problems that money will not solve and I will not support funding any additional relief to the auto industry.”
I think you have hit the nail on the head. All three are doing well every else in the world. The Chinese love our Buicks! Then on top of the union issue- the fed. gov’t has required specs that make no sense & drive costs up.
If Obama , Reid , or Pelosi come up with a bail out plan- it will be more of the same.
Icarus – regarding Saxby’s quote from the live chat earlier. How are we supposed to believe someone that has lied to us and votes for spending on top of more spending – a very un-conservative thing to do.
As for your “flex engines are a complete joke” – no, they’re not. We need engines that can run on multiple fuels. What is a joke is corn-based ethanol. Cellulosic ethanol and other biofuels are certainly a viable alternative for our future.
They’re a joke in that GM already has E85 engines ready for every car they produce. We don’t need to loan them billions for technology they already have both on the shelf and in mass production.
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Erick, I’m pretty sure he’s already said he’s against it.
I think we need a clarification. From Rogue’s post yesterday:
Seconds later you spoke about being in favor of “loan guarantees to allow [American automotive companies] to retool, I’m much more sympathetic to that because we need more flex engines.”
I said on here when I announced I would be voting for Saxby that I could forgive a lot of his past votes because he was supporting a President that we, as a base, pretty much insisted he support. Part of that, however, was a promise that I would be a lot more vocal about issues we expect him to vote against. This is one.
GM, Ford, and Chrysler are no longer the heart of the American auto industry. Chrysler’s entire operation represents excess capacity in the system. Futhermore, they are now owned by a Private Equity firm, most likely with foreign investors who made a very bad bet less than two years ago. The other two have abandoned Georgia for manufacturing operations.
This industry isn’t the banking system. It won’t affect my ability to do commerce if they have to seek bankruptcy protection. Quite the contrary, they would be much more competitive on the world market if they were able to shed legacy liabilities and were forced to modernize their business practices to mimic that of their foreign competition.
I’m not interested in my tax dollars bailing out GM’s shareholders, Ford’s bondholders, nor Chrysler’s retirees.
And, as a parting shot, “flex engines” are a complete joke.
Obama and Detroit and bailouts. Look what they have started. No thanks.
Bailout Watch 171: Obama Eyes Georgetown Egghead for U.S. Car Czar
http://tinyurl.com/6bjv2e
All should read !
Our view on aid for automakers: Bailout won’t cure what ails Big Three
Chapter 11 could force tough steps necessary for long-term survival.
http://blogs.usatoday.com/oped/2008/11/our-view-on-aid.html#more
guy! This isn’t a bailout of GM & Ford. It’s a bailout of the UAW.
Did somebody say “auto bailout”? Maybe this is what we should call the politicians.
Depends. Can we get Saxby to have an original thought?
How much have the Auto Companies offered Saxby?? He’s against it now but he was going to write the Farm Bill to help the small farmers & they got screwed. Saxby’s vote for the Wall Street Bailout was over $2,000,000.00, how can the auto companies come up with that much?
Saxby’s comment from the live chat on the auto bailout:
“The automobile industry has systemic, deep-rooted problems that money will not solve and I will not support funding any additional relief to the auto industry.”
I agree w/ him. Let’s see how he votes if he’s re-elected. His votes have been his troubles!
http://info.detnews.com/video/index.cfm?id=1189
It’s pretty telling that the domestic manufacturers best plants aren’t in the U.S.
The “auto bailout” is a bailout of union retirees, not auto manufacturers.
Icarus,
I think you have hit the nail on the head. All three are doing well every else in the world. The Chinese love our Buicks! Then on top of the union issue- the fed. gov’t has required specs that make no sense & drive costs up.
If Obama , Reid , or Pelosi come up with a bail out plan- it will be more of the same.
Icarus – regarding Saxby’s quote from the live chat earlier. How are we supposed to believe someone that has lied to us and votes for spending on top of more spending – a very un-conservative thing to do.
As for your “flex engines are a complete joke” – no, they’re not. We need engines that can run on multiple fuels. What is a joke is corn-based ethanol. Cellulosic ethanol and other biofuels are certainly a viable alternative for our future.
They’re a joke in that GM already has E85 engines ready for every car they produce. We don’t need to loan them billions for technology they already have both on the shelf and in mass production.
“systemic” sounds like an awfully big word for a guy like Saxby to use. Wonder how many times he practiced saying it before this time?
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