Obama, Congress proceed with caution

Please - The Detroit 3 have a combined market value of something under $9.2 Billion and they want a handout of $34 Billion more (on top of the original $25 Billion to retool) for a total of $59 Billion. The value of the bailout is equal to 600% of the current market value of the companies! They are kidding, right? A common sense alternative - buy the Detroit 3 for market value ($9 Bilion), throw them in bankruptcy reorganization, fire the Auto Execs and trash the UAW contracts. Then give the Detroit 3 to Toyota with $10 Billion in cash and let Toyota run the "New Auto Industry". Total cost to US taxpayers $19 Billion. This alternate proposal would save US taxpayers $40 Billion in upfront costs.($59B - $19B). The Detroit 3 are unbelievable - tell them to go home and implement their proposed "survival plans"; announce which plants will be closed, indicate where the employee cuts will take place, put the spending cuts in place and obtain other actual UAW concessions. Take the "Job Bank" as an example. GM alone pays over $10 Million a week to employees who no longer work for the company. It seems simple enough, the Detroit 3 can't afford to keep the ridiculous promises they have made, so now they want taxpayers to bail thenm out. http://www.nytimes.com/2006/03/28/busine... Have the Detroit 3 implement their survival plans first, then they can come back and demonstrate how the money will be repaid to the taxpayers. With specifics. Can you imagine going into a bank and asking for a loan and telling the bank, "gee, I might be able to start paying you back in five years". "Oh, and by the way, I need to cut my production by 30% next year ...." At present the "survival plans" are just another set of empty promises. No more "TARPS" or "Troubled Asset Relief Programs" - once the money is given away - it can be used for whatever they want, but not necessarily for what it was intended. I don't want to fund another round of UAW pay increases, Executive bonuses or extensions of "pay not to work programs" for a group of failed companies. The Auto Execs and UAW are just like the Politicians; none of them will accept responsibility for the mess they created. It is always someone else's fault. SEE: http://mcauleysworld.wordpress.com/2008/

I sent this to our US Reps and Senators by email. I STRONGLY urge you to do the same if you agree. The possibility of losing their Power Positions in D.C. is the only thing that makes these out-of-touch ELISTIST politicians like Reid and Pelosi listen. Dear XXXXXXX, I most strongly urge you to oppose any bailout for the auto industry. It is irresponsible and will not correct the problem: mainly, overinflated wages, benefits, and retiree plans. The "other" American auto industry is thriving with happy employees, efficient output, and quality products that American consumers are buying in record numbers. The Big Three are simply non-competitive in the global economy - or even in the domestic market! The Big Three will not disappear; they will either reorganize or be acquired by other automakers - there is simply too much brand value and infrastructure in place for them to disappear. But a bailout will only prolong their demise and cost us - and our children - billions. It is nothing more than pandering to the unions. Your support of a bailout will ensure my not supporting you in the next election and resolve me to work hard to see that you are replaced with someone who truly represents the desires of the majority. Please oppose any more bailouts for anyone!

Obama likes their reports. THEY WANT $34 BILLION DOLLARS! that's crazy! The illuminati have to be out of their minds to just throw that kind of money around. how does the auto industry get into a place where they need that kind of money? What will keep them from getting their again? NO WAY! you can't just give away that kind of money, NO WAY!

Obama's and the Democrat Congress dilemma is that they have bailed out Wall Street and their GSE's and are throwing the Joe the Plumber crowd out on their ear. They want to patch it over with another $600 by a set of earrings stimulus package, but the Joe the Plumber crowd just want their jobs back.