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U.S. auto executives warned Congress on Tuesday that their industry was teetering on the brink of disaster as they pleaded for a $25 billion aid package despite political opposition to another multibillion-dollar government bailout.
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  • video added November 20, 2008
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9 responses // Big 3 Hearings // Video

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    They flew private jets to the senate? How un-green are the big 3 car makers.

    recommended by donkeyfly69
    smurph25
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    1Eco_Media
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    you got served?

    donkeyfly69
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    How about looking at the real problems. Big Government,
    I was a merchant Seaman for 15 years. We had the worlds largest merchant marine at one time, but excessively high federal registration fees and excessive wages, left the Shipping companies with a smaller profit margin, so, whether they paid the government officials off or for what ever reason the Maritime Administration permitted the American Ship Companies to register in foreign countries like Liberia, Hondorus, Panama, Guatamala. This gave the shipping companies the ability to hire foreign seaman who would work for a fraction of the wages of the American seaman. It was the greed and and arrogance of the Shipping companies that made the US merchant seaman form the Maritime Unions. This gave them the decent wages and clean respectable living conditions. The same can be said of the UMW workers back in the 1930's and the UAW and Teamsters. It was corporate greed that fueled the creation of the labor unions and ultimately the demise of many companies. So the Unions were both good and bad. The point to make is that outsourcing really started back in the 1930's and may have been as early as the 1920's for the maritime industry. Most of the US Merchant fleet is gone disappeared and what there is now, are the large container ships. but technology had to change with time. But time has also increased the size of government and now government is too expensive and has broken the back of this nation. With China holding the most of our trreasury bonds, China now owns us and the country. Government will only continue to get bigger and bigger, but it is almost ready to declare bankruptcy. This nation is bankrupt but the trreasury just has'nt declared it yet. What bothers me is, what does the governmment do when china and the Arab nations all call in for the payoff. This nation cannot even pay the interest of the debt let alone the principle and intrerest. What then? All of the big corporations aqnd many companies are closing down and others are layingoff people to try to stay afloat. Big government is not laying off. Why??

    Ragan
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    I have a small problem with the outcry on the private planes. It would be very un-wise for them to have flown together. If that plane went down, it would cause a huge problem. The president and vice-president never fly in the same plane. Same basic reason.
    Why do we jump on some people for doing the same things others do without a problem?

    JoQ
    • JoQ
    • 8 months ago
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    I am so glad they haven't already made a final decision. This allows the average person time to write letters to their congressman and let their representatives know what their constituents think!

    reaisan
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    The 'big 3' failed and they knowingly did it. They chose a stupid strategy and now pay the price. They are too far gone and i dont care to pay another 25 billion in taxes.

    Maitereya
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    Image...

    Exploring Pre Pack Auto Bankruptcy

    I will say again and again, these leaders would have taken every dime they could get then file 11 anyway.

    I wouldn't trust them as far as I could throw them.

    This way they don't need to be trusted.

    1Eco_Media
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    Flying those jets to ask for money is about the same as people on Welfare driving Cadillacs with gold spoke rims. Spoiled America! Let's all look to the government, they'll dish out the money. Where did Capitalism go? You want something, you work it. You fail, you get up and try it again. If you are successful , you should not be resposible for those that aren't. Hell I'm a GenXer ( the supposed lazy generation) and even I know that.

    robp24

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