Ted Turner: "Let Them Go Bankrupt."

There is a whole lotta bailout going on. More and more people are bailing on lending the Detroit dunces a helping hand. Last to bail: CNN founder Ted Turner. He went on NBC’s Meet The Press and said to Brokaw: “I saw it coming years ago that Detroit was headed for a crash, and it’s amazing to me that they didn’t see it either.” Ted’s recommendation: “Let them go bankrupt and get Toyota to buy them out.” As if they would. The one who stands firm by the side of the bail bondsmen is United Auto Workers (UAW) boss Ron Gettelfinger. The AP (via MSNBC) reports that Big Ron says the UAW would be “willing to consider more concessions on wages and benefits” to secure a federal bailout. But then again, not so much. “Based on the changes we’ve made to our contracts, we are competitive already.” By the same token (or a different one, I’m not exactly sure), Gettelfinger told CNN that $70-an-hour UAW wages were a “myth.” And Chrysler, Ford and GM should tell Congress they’ll limit corporate pay, bonuses and severance packages in return for bailout bucks. In other words, some pigs are more equal than others.

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  • Flashpoint Flashpoint on Dec 01, 2008

    -------------------Stein X Leikanger : December 1st, 2008 at 3:14 am It’s not that hard, really. The cars are too big. They are too thirsty. The quality sucks. They are three generations behind competitors’ cars. After-Sales Service is a disgrace. They couldn’t sell the cars if they didn’t have 0% - 72 months - offers.---------------- TOO BIG? I own a Chrysler 300 and an S550. I am 6'7 tall and I needed the largest cars I could get. I think a car with the interior space of the 300 is plenty good and not too big. My S550 is 205 inches long - the same length as a large SUV. That car is long, yes, but its used as a limousine in many places. The Lincoln MKS, Avalon and Genesis are the same length. Its not just cause they copy from each other, its because Americans need large cars...but, we need them to be fuel efficient too. A 750 and a Audi A8 are the same length too. Quality sucks? I would have agreed 7 years ago, but currently, GM and Ford are producing the best cars they've ever made. I think the real problem is news media bias against them. The Japanese are notorious for playing down American cars. They also don't keep paper trails on their cars for problems that are easily fixed like a wiper blade, a tire or a taillamp. I know people working for Japanese companies and this is true. 3 Generations behind???? A Ford Taurus or a Chevy Impala might be 3 generations behind a BMW 6 or a BENZ E/S class but compared to the Japanese cars? That's balogna. I'd take a loaded Taurus over a loaded Honda Accord ANY DAY. I wouldn't buy ANYTHING Toyota has, besides a Prius... and only if fuel was an absolute problem.

  • Lokki Lokki on Dec 01, 2008
    The Japanese pay off who they have to pay off. The Chinese pay off who they have to pay off. south Korea pays off who they have to pay off. Meanwhile, American products are taxed so high in those countries, our stuff actually sits on their docks because its unnafordable by regular people. WE NEED PROTECTIONISM. Wake up Rip Van Winkle. Who are the Japanese and Koreans paying off? Answer - All those Accord, Camry, and Hyundai buyers.They're getting products they want to buy.\ Can't sell imported cars in Japan? You can actually, if you can get anything they want to buy Toyota tried hard to make it happen, so guys like you would quit whining. http://www.autofiends.com/wp-content/uploads/2008/10/toyotacavalierad.jpg http://www.members.shaw.ca/toyota_cavalier/ However, in the land of Civics and Corollas, nobody needed or wanted a Chevy. It didn't offer anything special either in quality, performance, or price. I travel to Japan at least once a year and I see more and more foreign cars - mostly VW ( Golf, Audi) and Ford products(small Fords, Volvos and Jaguars). BMW and Mercedes are common as well. GM? Not so much - the only GM cars are 'bling-mobiles' like the Escalade or old Camaros with loud pipes. As for protectionism. We tried that in the 1980s - the last time that the big 3 promised to reform themselves if the Govt gave them a break. Didn't happen then. Why would it happen now?

  • Spaniard Spaniard on Dec 01, 2008
    Universal Healthcare is what America really needs Wait to see European states bankrupted by "Universal Healthcare". Someone has to pay for that. TANSTAAFL. Google it if do do not known what it means. I live in Europe, and this state of things we have here is not sustainable.

  • Ronnie Schreiber Ronnie Schreiber on Dec 02, 2008

    Bertel, Ronnie, if you keep repeating this, then I will have to call you Wrongie Schreiber (”Schreiber” happens to be German for “writer”, so it would fit.) Somewhere near the roots of my father's family tree is an alter zayde who was a sofer, a ritual scribe. I’m sorry, but you are plain and utterly wrong. Perhaps out of date, but hardly "utterly wrong". Besides, we're discussing the auto industry and you yourself say, Should you be a foreign automobile manufacturer, and you are dead set on joining the 100 or so automobile manufacturers already active in China, then yes, currently, you must do it with a joint venture. Like I said, I'm not utterly wrong. India's automotive trade group, SIAM, uses the FDI issue to try to attract foreign investors away That’s because the Chinese view their automobile industry as strategically important as the American government thinks of a small town radio station. It's ironic that you compare US policy that hinders foreign ownership of radio/tv stations here with China's auto industry. Are there any broadcasters or news agencies in China that are not state owned or controlled? At least the US has always allowed privately owned broadcasters - because in the US the airwaves belong to the people, not the government (cf. FCC Act of 1935). That's why, unlike the UK for example, Americans don't have to pay a tax or get a license for a radio or tv set. In many countries, even if they've opened up to private broadcasters, government owned broadcasters still dominate the scene, e.g. BBC. Should our rule be: If one country screws its citizens, we should retaliate by screwing our citizens?” Let me ask you, do you think the Japanese government would allow commercials on Japanese tv and radio that told Japanese consumers how cheap rice would be if their government permitted the sale of US rice? I'm a free trader, so I'd like to see the US have entrée into those markets in which we can compete on price and quality. We should be able to sell good cheap rice in Japan. Also, while it might not be as cheap as powdered milk products from China, US milk doesn't have melamine in it.