“F**k that noise”

Using this logic, everyone would be a software engineer (until those jobs are ultimately outsourced to developing countries at a fraction of the price), and we’d all be walking barefoot because everyone would be smart enough to avoid working in an auto plant or a shoe factory.

It’s to our benefit that some people are willing to do manual labor for large companies. Without such people doing nasty, repetitive work, the rest of us would suffer for it. You can’t just download your food.

That is all well and good, until YOU lose your job.

Coming from a blue-collar upbringing myself (many moons ago), my parents emphasized education, education and education. So while the ambition of my peers only extended as far as getting that union job that will make them “set for life” (yeah, right), I had bigger goals in mind. I didn’t come from money, but I made it happen via the following route:

1) Air Force – took advantage of educational/technical training – which led to:

2) Undergrad degree in Computer Science. Was hired by a good company upon graduation, then took advantage of the company’s educational reimbursement program which led to:

3) Masters Degree in Software Engineering.

I now work for a small, agile, company, and get paid very well. And I am currently taking advantage of their educational and training opportunities to keep my skills up-to-date.

The point of all of this? Proper preparation, ambition, and long term planning will enable anyone to be in a better position to not only survive, but thrive during an economic downturn.

Handouts only serve to blunt ambition, and allow the Big 2.8 companies to maintain the status quo for a few more years. These companies need to go bankrupt so they will finally be forced to change their current, inefficient ways and come out of this leaner, meaner, and stronger in the long run.

That is all well and good, until YOU lose your job.

Imagine Toyota and Honda having a more challenging time because GM does not need to run a business as efficiently to compete. Not fair, Toyota and Honda can probably manage though.

Now job losses, how bad is that? How bad is giving handouts? Is it better or worse than Job losses? Say GM does not get handouts, bunch of people lose their jobs. What happens to the economy in that situation? Will that negatively impact me? How much do handouts impact me?

I’m starting to think handouts are not so bad. People losing jobs may force them to work harder or not. I wanna improve my living conditions, have an easier life, live in a healthier economy and have fairer access to wealth. I think I need to know were money is going and why, if for no other reasons then to understand were the money is. I mean even if GM is giving $10b a year, its what they pay in taxes anyhow. How money affects my living opportunities is more important to me.

It’s highly unlikely that a bailout would involve a direct transfer of taxpayer cash into GM’s coffers.

The more likely outcome would be something similar to what was done with Chrysler — federal loan guarantees.

In this scenario, banks and investment banks would make the loans with their own money. It might also include some investment from a private equity firm. The federal government would guarantee the loans, in order to induce the banks to make the loans and to lower the interest rate.

The taxpayer would be on the hook only if GM defaulted on the guaranteed loans. If the lenders are smart, the money will come with strings attached. I’m guessing that they would take a piece of equity (stock) and get membership on the Board of Directors.

My prediction is that a bailout would be more for Wall Street’s protection than for anyone else. The federal government needs to prop up the banking system, and GM owes too much money to too many institutions to allow them to fail. If we could bail out Bear Stearns, we will certainly give serious thought to bailing out GM.

Give it to GM.

I am betting on option C. We’ll stay in Iraq and bail out Detroit, banks, stupid “home owners” who bought more than they could afford, Wallstreet, farmers, and anyone else who has political pull and wants free money. It won’t matter who is president; the government is already bought and paid for by corporate interests.

The situation reminds me of the 70s movie Rollerball, where the country is run by corporations and the prols willingly accept it as long as they get their mindless entertainment.

Does “essentially monetized” mean “gave” in plain English? The whole deal, any porkbarrel deal, is socialism for the rich. Such behavior shouldn’t condoned. People should be held accountable.

netrun: “Where is my 80mpg car that GM promised me back in 1996!”

geeber: “Not to support a GM bailout, but, in all fairness, has ANY car company made those vehicles available for sale at reasonable prices yet?”

I helped fund the 80mpg GM car back then through my tax dollars, so as a unintended shareholder in the enterprise I’m looking for some return on my investment!

As I recall, there already is a sticker on cars that notates this info. It’s called the window sticker. The same information is also available at fueleconomy.gov.

$800mm for this department?? And we’re $17B in the red at the state level. I think we’ve found a place to start cutting that budget and get some teachers back to work. After all, with our high school drop out rate in LA hovering around 50%, some new car buyers may not even be able to read that nice new label CARB wants to use.

How ’bout this – we take CARB’s budget and hire some cops, build a charter school or two or maybe even (gulp) pay down our debt.

What an idea.

Bankruptcy over the weekend? June sales report comes out in a few days. Must be terrible.

Not that I have the illusion they could really stop it before it’s too late, but I’m sure this goes against some of their regulations.

Maybe they’ll defend themselves by saying the Big 2+? are part of the US cultural heritage (btw, apart from some noteable exceptions, some heritage that would be…)

Anyway, could another Airbus/Boing dispute be on its way…

Where is the hydrogen powered car that was supposed to be available .. five years ago!

Not to support a GM bailout, but, in all fairness, has ANY car company made those vehicles available for sale at reasonable prices yet?

Where is my 80mpg car that GM promised me back in 1996!

Where is the hydrogen powered car that was supposed to be available .. five years ago!

Let them eat cake, I say.