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December 3, 2008

QUESTION OF THE DAY...(LARRY KING DISCUSSION THREAD)

Posted: 04:35 PM ET

Do you support a tax-payer funded bailout of the big 3 automakers?

This is always a hot topic, and we want to hear what you have to say.  Please let us know your thoughts.  And tune in tonight at 9PM when we talk about this with Michigan native Michael Moore.  Your comments might be used on the show!

As always, remember:
1) Stay on topic.
2) Keep it short
3) No curse words
4) Use a name (no initials or screen names) and a location (city, state or country)

Filed under: Larry King Live • Question of the Day


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Gary Mermelstein   December 3rd, 2008 4:53 pm ET

United States Automobile Industry Solution
Viewing a Failing Industry as an Opportunity

PROBLEM

U.S. car manufacturers have been operating at a loss for the past several quarters and are on the verge of bankruptcy. There is much debate surrounding the reasons we have arrived where we are, but virtually no dispute surrounding the reality that only forward thinking can solve the problem. A “government (tax payer) bale out or bridge loan” of $25 billion has been sought by the industry. As tax payers, we are damned if we do and damned if we don’t provide the funds.

DILEMA

The effects of auto industry failure are far reaching. It has been said that one out of ten jobs are somehow related to the industry. Up to 3 million jobs are at risk and the U.S. stake as a manufacturing power in the world is on the line.

Lending tax payer money to the big three without control over outcome is not wise. Merely loaning money will not increase demand for their products nor guarantee that the money will optimize the likelihood of a favorable result for the taxpayer lenders. Further, it is doubtful that $25 billion will get the industry to positive cash flow, especially given the current state of the economy.

SOLUTION

An ideal solution to the problem would not only optimize the chances of industry survival, but it would also work towards accomplishing many of our future U.S. goals:

1. Infuse necessary working capital to U.S. auto manufacturers
2. Ensure industry works towards fuel efficient/green autos
3. Create demand and sales for American autos in the near term
4. Protect and promote U.S. manufacturing sector
5. Immediate jobs/income, stimulate economy and help struggling consumers
6. Reduce carbon emissions
7. Promote energy independence

THE PLAN

Phase 1 – Bridge Loan

Immediately infuse $25 billion to U.S. auto industry as bridge loan. There is no doubt, the big 3 manufacturers will return to Congress with a “viable” plan on December 2nd, whether it actually is or isn’t. We must give them the money.

Phase 2 – Generate Sales/Demand for Green Cars, Stimulate Economy, Jobs

Issue $25 billion in vouchers redeemable from U.S. car manufacturers for energy efficient/green autos. The vouchers, x quantity, can be issued to taxpayers through a lottery type arrangement. Energy efficiency and green should be pre-defined but should not include, for example, Cadillac Escalade hybrids. Vouchers should only be redeemable for current efficient and innovative new green products.

So what if a voucher winner doesn’t need a new car? They can do whatever they want to with it:

1. Keep it and sell what they have to somebody else.
2. Give it away to someone more needy
3. Sell it at a discount. Selling it gets money moving.

Phase 2 spurs competition among the big 3 to race to market with products that meet our goals as stated above with real demand and sales, not just handing money over. If they don’t innovate, they won’t get their piece of the pie.

SUMMARY

This stimulus plan will protect 3 million auto industry jobs. The plan will actually increase employment as a result of a new industry for innovative green auto products. Phase 2 actually creates new demand/sales and stimulates our economy. The plan will create new green jobs; sell new insurance, new battery innovation and production, LNG autos, hydrogen autos, new registrations for autos, etc. etc. etc….

What might seem as the last straw in a failing U.S. economy could become a part of our solution to recovery. Let’s view the failing car industry as our biggest opportunity.


Kevin Burrell   December 3rd, 2008 4:59 pm ET

It only makes sense to me.But it appears that some are taking this opportunity to kick the Big Three while they're down. Everyone who ever had a bad experience with their American made car and no doubt that list is a long one, is trying to exact some revenge maybe, but this is not the time or the place. Nobody said boo when Wall St. was being propped up.That was done with the speed of light with very little rancor. What's the difference.


Barbara   December 3rd, 2008 5:04 pm ET

It really depends on what they plan to do with the money and if they have a clear objective in making things better and this should include protecting their workers.


Old Monk   December 3rd, 2008 5:29 pm ET

Yes – we have to do all it takes to save US jobs. Stupid legislation [not economics], unreasonable insurances and crazy court judgements have made USA a difficult place for employers and led to a massive job loss to other countries!! China, India, Mexco etc are getting our jobs because they do not take an anti Employer stand, not because labor is cheaper there.
The least we can do is to save existing jobs while putting in place proper legislation rolling back some of the past populist laws so that employers can again start employing Americans in america without fear!!!!


Adrian Campbell   December 3rd, 2008 6:16 pm ET

One of the big 3 needs to go bankrupt, as a lesson. The auto makers need a clear define plan as how they plan on turning a profit, and show that they are going to produce something that we want to buy.

I think if we had single payer healthcare in this country, the big 3 wouldn't be in as much debt. Healthcare costs is their biggest expense. Now they are taking those benefits away from current employees, as well as retirees. I fear my mom and dad will lose theirs. My dad had 43 years, and my mom put in 30 years with GM.


Ed Hull   December 3rd, 2008 6:38 pm ET

Larry,

I am worried that we are going to make another pre-emptive decision based on need of an industry in peril, perhaps self-induced to some degree, without making sure that the end-user's (buyer's) of these vehicles will have an opportunity to actually finance any of these products in this current financial market. If we assume that the banks will all of a sudden lend money for over-priced cars & trucks currently offered, then we are in for another round of congressional hearings in the very near future as well. If we don't make certain that our banking industry will support our buying customers and taxpayers for these products prior to lending the Big 3 billions, then we will have accomplished nothing in the end. Many will be out of work,
the money will be gone and with the taxpayer holding the bag once again.

Thank you,

Ed Hull


zenatic   December 3rd, 2008 7:02 pm ET

I believe that this is the perfect time to prevent our long term fiascos.
In the automaker arena, the deterioration of our fossil fuels alongside global warming are two issues that can be swept aside in a single move.

The auto bailout should be tenatively passed, with this prerequisite:

Automakers intent on recieving federal funding shall focus primarily on the transition from traditional vehicles to hybrid and 'green' vehicles entirely. The auto companies' inherent revenue (outside of the bailout's assistance) shall be rerouted to provide accessibility to this neccesary technology.

To define the aformentioned tenativeness: a schedule towards the transition to the green auto industry shall be measured in fiscal increments. If the auto companies are not progressing towards the stated goal, then the funding shall be returned with interest to the federal government, subsequently paving the way for a completely new company or companies- producing green automobiles alone.

The risk of running a monopoly is present, though it may be for the better good if an appointed body supervises and publishes the revenue(s) of the new companies.


Jonathan Williams   December 3rd, 2008 7:09 pm ET

believe that this is the perfect time to prevent our long term fiascos.
In the automaker arena, the deterioration of our fossil fuels alongside global warming are two issues that can be swept aside in a single move.

The auto bailout should be tenatively passed, with this prerequisite:

Automakers intent on recieving federal funding shall focus primarily on the transition from traditional vehicles to hybrid and ‘green’ vehicles entirely. The auto companies’ inherent revenue (outside of the bailout’s assistance) shall be rerouted to provide accessibility to this neccesary technology.

To define the aformentioned tenativeness: a schedule towards the transition to the green auto industry shall be measured in fiscal increments. If the auto companies are not progressing towards the stated goal, then the funding shall be returned with interest to the federal government, subsequently paving the way for a completely new company or companies- producing green automobiles alone.

The risk of running a monopoly is present, though it may be for the greater good so long as an appointed commitee supervises and publishes the revenue(s) of the new companies.

Western Kentucky University
Bowling Green, Kentucky
42101


LaDonna   December 3rd, 2008 7:29 pm ET

I oppose bailing out American auto companies!

I am a liberal democrat who voted for Obama. But, where is it written that I must also blindly support the unions whose have created the legacy costs that are choking the life out of an industry?

CNN has consistently failed to report on the other, successful, companies that build autos in America, employ americans, pay a comparable wage to Americans and build better cars. Tell America about Toyota, Honda, and Hyundai. That is the future! When the Big 3 die off the "little3" will move north, buy the factories, hire the workers and it will be business as usual. The difference? No, bloated retirement perks.

This sounds harsh. But maybe it's not up to a car company to provide for the long term, retirement benefits of it's employees That tast should fall to the government to make sure there is affordable health care for every retired person not just a retired auto worker. Let auto companies make autos and let government provide access to health care.

Let the American Model of Bloated, Top Heavy, Union shackled, auto business die the death it's meant to.

LaDonna


John Hanley   December 3rd, 2008 7:33 pm ET

Re Gary M., 4:53 pm: It is clear to me that much serious thought has been invested into most of the previous comments. Unfortunately, many of them are too long to be aired on your TV program and will likely be committed to what serves as your dead file. I suggest you forward all of them to President Elect Obama's team. I would also suggest that a committee be formed comprised of a few plain old civilians, some auto workers, and perhaps someone with a legal background. These committee's should be inbeded in the three management and decision making groups with a veto power. This may help keep them from straying to their old, error filled way of making decisions. Someone involved in energy development other oil should also be included.


Kevin Taylor   December 3rd, 2008 8:05 pm ET

NO. Not one penny.

Let the big three get their bail-out through the oil companies, after all
they are like brother's. cannot have one with out the other.

and if all the fact were on the table. like all my co worker friends and myself as well, if it were not for such high gasoline prices over the past
6 years, we would have all made our mortgage payment's on time and in full, no problem.

The oil companies profited hundred's of billion's of dollars causing most of the economy problem's .

last year i had to spend $420 per month in gasoline. that $5,040. yr.
I net $18,000 per year. mortgage payment $265. per month


Rey   December 3rd, 2008 8:11 pm ET

Although the big 3’s don’t deserve a cent from our tax money, given the current conditions of our economy, a bailout should be given with strict oversight of every cent they use.


Kingsley Obanor   December 3rd, 2008 8:16 pm ET

A bailout to the auto and any industry by the tax payers' money will be a clear "injustice". The employees of this so called special industries earn more than we that are been asked to bail them out.... Uhm. I see they are the chosen one. We who have been struggling to survive long before this their orchestrated bailouts are not part of the equation that sums up the american dream.
Its a NO to this bailout, let them cut back on their lifestyle , make adjustments like we the ordinary people have been doing in the last several months and stay hopeful for better days will come .... but with sacrifices from everyone. No one is above the much needed lessons or sacrifices to get us out of the hard times that we are facing today.

Kingsley Obanor


Jude Hawkens   December 3rd, 2008 8:22 pm ET

For Brad Pitt,
Both my wife and I are very environmental – and I even lived in New Orleans for a couple of months back in the mid-eighties and loved the flavor of the whole experience. The people, music, food – it was all amazing. Yet I could never get past the fact of what a polluted part of the country it was and still is. It lies at the base of the extremely polluted Mississippi – and with Katrina – all of the flooded areas were completed covered with these toxic waters.
Why rebuild there? Do you really think it is safe now? Aren't the grounds saturated?
It reminds me of so many places around the country where schools and playgrounds have been built on old dump sites.
Why not build a new version of the Ninth Ward and New Orleans on safer ground?
Even so – what we see you and Angelina doing is absolutely amazing!
All the best,
Jude and Gina


Jude Hawkens   December 3rd, 2008 8:24 pm ET

Meant to add ...
we're from northwest CT


Dianne, TX   December 3rd, 2008 8:26 pm ET

First, I would like to see not only the ceo's to take drastic pay cuts, but also the other top management. Absolutely no bonuses. Trim the fat from the top and then trickle down to regular workers. I would like to know how many regular workers does it take to equal one year salary of top management. Cutting management first will yeild substantial savings when you consider the perks: insurance, large retirements, stock options, receiving bonuses after leaving the company and more.Afterward, go to middle management, cutting positions here also and funnel down. For over twenty years, the auto industry has received huge salaries and bonuses even though they were loosing money. At this time, I would like to see how tight they can run the ship before I give them the money.


Kelli from Tampa   December 3rd, 2008 8:27 pm ET

Agree with Ed Hull 100%!!!!!!!


Norb Lyle   December 3rd, 2008 8:28 pm ET

I support the bailout ONLY IF all the 3 auto makers convert ALL their manufacturing to make hybrid vehicles for consumers and for public transportation.

Norb Lyle
Buffalo, Wy.


Ken in NC   December 3rd, 2008 8:30 pm ET

@ Gary Mermelstein,
I agree with your proposal but feel some additions are necessary.

Under SOLUTIONS.....1. Infuse necessary working capital to U.S. auto manufacturers. ( Should be amended to stipulate that taxpayer funds shall be used for US Plants only for retooling and retraining and until the company operates in the Black for two (2) consecutive quarters or repays the loan, no bonuses shall be paid to Executives or dividends to stock holders.

As far as Chrysler is concerned, being a private company they should do an IPO as taxpayer dollars should not be used to shore up investments made by unknown private investors. Should the company decide to open it's books for inspection to insure that not more than 49% of the company is owned by investors outside the USA and to insure that it is using the Bridge loan to benefit the US employees of Chrysler and the US Chrysler plants only. If the company agrees to the terms being applied to the others then they shall also be included in the bridge loan.


Kelli from Tampa   December 3rd, 2008 8:36 pm ET

The AWU is just as much to blame. The wages and BENEFITS these people get are outrageous. I am a nurse and make nowhere near the amount these folks get and I am responsible for peoples lives! The auto industry has made their own greedy bed. ..from the poor quality vehicles they have made for 30 yrs. to the AWU...I do not like being robbed while I work my - off 16 hour days due to a nursing shortage.
They can suck it up like I have to.


william lofquist   December 3rd, 2008 8:37 pm ET

I feel sorry for these workers whom may lose there jobs, How Ever I remember when I needed a job in Manufactuing back in the 70ty's. the unions would not consider hiring me in good times.
After all these years, I have learned a new trade and aim working.
I really do not believe in giving my tax dallors to unions.

it's my turn. your going to be laidoff.

Marry Christmass!

Bill
Iowa


Melina Mangiola   December 3rd, 2008 8:37 pm ET

Not for Chrysler, they are a privately held corporation and we are not privy to heir financial records, the mess they made. They got a bilout years ago and still can't funtion, what about the billions earned by the top ranking employees and chief?
GM and Ford, let the employes buy a share in the company, fire the fat cats, stop paying people for being idle, this way they only hire who they need, idle teachers, nurses and so forth do not get paid so why should thye, no work no pay, simple math.
GM has sold me car after car, to support my family and they are worse than ever, my current lease is my last auto with them, high prices and low value and constant problems with the cars I have had for the last two purchases, I have bought GM for over 20 years, no longer will they get my money. Family or not.
Government should take over the pension portion and the retirees should get there share, not the CEO:S they earn to much for a failing vbusiness.


Roy Morgan   December 3rd, 2008 8:45 pm ET

I was surprised that a consummate professional like Larry King would join the foray of misquoters of the candidate then, now President Elect Barrack Obama on the question of going into Pakistan after Terrorists.

Mr. Obama's reply to the question of whether or not he would arbitrarily send troops into Pakistan after terrorists without the approval of the Pakistani government was so very precise and unambiguos that even a relatively uneducated person like me had no problem understanding his position with the greatest degree of clarity. Yet I have heard so many misquotations of his position on CNN with little or no rebuttal.To hear Larry also doing this was most disturbing.

What the President Elect said was that if Pakistan could not or would not take action against these terrorists then his administration would consider arbitrary action.

I was pleasantly consoled by the Pakistani Prime Minister's correction of Larry's misquotation of the President Elect's comments. Bravo to him.

The Prime Minister said in the interview that the world is having a romance with the President Elect and that he is looking forward to co-operating with him for the good of humanity. Bravo to him, again.

NO DOUBT THE WORLD IS UNFOLDING AS IT SHOULD!!


Kelli from Tampa   December 3rd, 2008 8:46 pm ET

Matter of fact when they get laid off, tell them to go to nursing school- we darn sure can use the help!!! Jobs o plenty....16 hour days whenever they want!


Dianne, TX   December 3rd, 2008 8:48 pm ET

For Kelli
It is not the unions, how about top managements salaries got higher and higher and took huge amounts of money as bonuses. Not only should the unions take a pay cut , so should the guys who made millions while not being profitable. After all, top management set the future goals of a company and charts its direction. As long as they got their huge salaries and benefits package, top management did not care where they took the company.


Kelli from Tampa   December 3rd, 2008 8:50 pm ET

Oh Dianne-don't even get me started about the CEO's!!! They are not even human!


Kelli from Tampa   December 3rd, 2008 8:54 pm ET

I think these CEO's are as addicted as drug addicts- but their addiction is luxury. It is just a disgrace...all of them...and I hope more cities and states are going to start sueing these CEO's – AIG, GM, Lehman's...all of them need to be sued over this- then they can have someone BAIL them out of JAIL!


Vijay   December 3rd, 2008 9:00 pm ET

Why is it so hard for Western media to agree that there are extremists in Pakistan and they are linked with ISI and Pakistan's army?


Danny Claxton   December 3rd, 2008 9:04 pm ET

Yes I feel we should pull the car industry out because they create more jobs for this country and we didn't mind giving 700 billion to the mortgage companies so that they could pay all their CEO's so why not help the auto industry out.

Danny Claxton
Hazlehurst GA


ronnie williamson   December 3rd, 2008 9:08 pm ET

With all the big CEO's and big wigs in the auto industry, are thier million dollar a year paychecks going to remain the same or will they take a huge paycut to help the cause?


Kelli from Tampa   December 3rd, 2008 9:14 pm ET

The rumor is they are all going to take $1 a year if they get the bail out- looks like they all went home and read Ioccoca's book over Thanksgiving.


Peggy Brushenko   December 3rd, 2008 9:14 pm ET

Larry,

I've been watching you for years and I have always enjoyed your shows. I was upset about how you interviewed that poor woman last night , her husband and 13 year old daughter was murdered in India. You could see that she was so sad, almost still in shock. You interupted her and didn't seem to be really listenening to her. And when you broke away to break so abruptly, I changed the station. Please watch that part over again and ask yourself if you came across compasionate to this poor womans heartbreak. Thank you.


Pat   December 3rd, 2008 9:15 pm ET

As a 37 year resident of the metro Detroit area and an automotive worker I am appalled with Michael Moore. The very company (GM) that put food in the mouthes and roofs over the heads of his fellow citizens of Flint, Michigan for many, many years has now become a financial punching bag for him. Unfortunately your words do carry some weight with some and if the "Americas 3" don't get the LOANS that they want I hope you do a documentary on all the thousands of people that will be out of work. Mr. Moore you have really lost touch while living in your multi-million dollar estate in the resort town of Traverse City. Ironically isn't that where the auomotive executives vacation in the summer.


Ron   December 3rd, 2008 9:22 pm ET

Absolutly the Feds should make the loans to the Detroit 3 and Mr Moore should get get his head out of the sand and STAND UP for America! Obviously Mr Moore has not tried the new Chevrolet Malibu or the Cady CTS, or the New Generation of GM Trucks... they are World Class. I'm sick and tired of the bashing of the Detroit 3. Where is your Patriot commitment Mr Moore? Forget the past, now is now and Detroit builds world class iron. I'm ashamed of the misconceptions brought on by negative attidudes. A North American Revolution? Why Not !


PARESH PATEL   December 3rd, 2008 9:22 pm ET

THIS IS IN GENERAL INSULT TO AVERAGE WORKING CLASS WHO MADE IT POSSIBLE FOR AUTO INDUSTRY AND FOR AMERICA . ONE TIME IT WAS EXAMPLE OF AMERICAN MANUFACTURING INDUSTRY FOR SUCCESS OF LABOR AND MANAGEMENT. SURE EVERY ORGANIZATION HAS ITS FAULTS; LIKE BANKING INDUSTRY. WHERE IS AMERICAN PRIDE AND FAIRNESS. IS THERE ANY REPORTER WHO REALLY CAN STAND AND SPEAK UP FOR AMERICAN AUTO INDUSTRY FAIR AND SQUARE. IS THERE ANY REPORTER WHO WOULD TAKE THE SIDE OF AUTO INDUSTRY WHICH HAS SERVED AMERICA WELL FOR GENERATIONS.


M. Lanska   December 3rd, 2008 9:25 pm ET

Maybe these 3 big automakers, need to renegotiate with the UAW
unions to keep from laying-off workers.
I don't understand WHY the autoworkers continue to get paid a high percentage of their weekly pay, – – while they sit at home, during the "retooling" for the next years car line ! ! ! ! Maybe someone can explain that.


Zach, Cincinnati   December 3rd, 2008 9:27 pm ET

Its high time that the CEO's of these auto companies get what they deserve. As far as the bailout goes, I'm not worried about the management, I'm worried about the workers. Since 2006 there have been 100,000 job cuts, and if it passes they will still lay people off. To blame the loss on the unions is completely unjustified. These people are what keep the company going. We must nationalize the auto industry and let the people run them. Eliminate the greedy controlling this industry, and there would be less problems. Vote down the bailout, and start moving away from oppressive control.


Kevin Taylor   December 3rd, 2008 9:27 pm ET

Pat / Michael more you are the most honorable true American in this country, you put if on the table like it is, not like the others, they tell you lies and candy coated B.S.

The Big Three Auto companies have littered this country with mostly
JUNK AUTOMOBILES, And Spit on 8 out 10 American's.

Michael Moore GOD BLESS YOU.


Jamil   December 3rd, 2008 9:29 pm ET

Regarding the bailout of the Big 3, I believe my suggestion has strong merit. As much as I believe that the Big 3 should not get any bailout money, I believe that this would be too much of a strain on my fellow hardworking Americans. What I suggest is the following, one if the Big 3 should be allowed to fail, this will show the Big 3 as will as the American people that the government will not bailout every company. As far as picking one, honestly, it should be random, all 3 have failed equally. Of the 2 remaining companies, they should both be made to dump their most unprofitable brand. Also the Big 2, should now be split up into 6 individual automotive companies. This will promote a strong competition in the new U.S. automotive industry. In these new 6, each CEO salary should be capped, at something more reasonable like $2million, and also held accountable for their companies very strictly.

A good way to look at this would be, this example. You have Ford, GM, and Daimler Chrysler. Lets says Daimler Chrysler is let to fail. Now you have Ford and GM. Ford and GM dump the unprofitable brand, say GM dumps Buick. And Fords drops says Lincoln. Of the remaining brands from GM and Ford, lets say GM has 3, and Ford has 3. GM and Ford are now broken up into 6 individually run companies.


Kelli from Tampa   December 3rd, 2008 9:29 pm ET

I still can say that EVERY American vehicle I have ever owned has been junk!! ( A total of 5 of them)...I am not buying junk from anyone!
I would NEVER buy an American car again!


Kelli from Tampa   December 3rd, 2008 9:31 pm ET

Tell them Michael!


Ron   December 3rd, 2008 9:32 pm ET

Mike you are a Socialist!


EqualBranchesofGovernment   December 3rd, 2008 9:33 pm ET

Thank you Mr. Moore for shedding light on the malfeasance of the Bush Adminstration these past 8 year.............How about Mr. Romney putting his money where his mouth is........his company Bain Capital has stripped more jobs from Americans and shipped them overseas.


Bill Wadd   December 3rd, 2008 9:33 pm ET

Now is the time for a change and bailing out companies is not the change we need.


kurt   December 3rd, 2008 9:34 pm ET

Michael Moore can't even make good movies. Why should we trust his opinion on how to run the economy?


Michelle   December 3rd, 2008 9:34 pm ET

Absolutely NOT, for all the reasons Michael Moore states. How dumb do those three blind mice think we are?!!


Pablo Faja   December 3rd, 2008 9:35 pm ET

No. There are better cars being made in the US by companies like Toyota and Honda.

– Pablo Faja (Florence, SC)


Thomas Gabrielli   December 3rd, 2008 9:35 pm ET

I am opposed to the government bail out of the Auto Industry. However, I do have a solution that does not involve the government:

Since the oil companies have been experiencing windfall profits and since a majority of their profits are based on auto-industry products, why doesn't the auto industry secure funds from the oil industry to help bail them out? Simple. Logical. Good business. Done.

Tom Gabrielli


Rosie   December 3rd, 2008 9:35 pm ET

Absolutely NOT! They don't deserve it, for the past 3 years they have squandered the money they had, let them go bankrupt, I understand this will affect alot of people but let the chips fall where they may.


Kim   December 3rd, 2008 9:35 pm ET

I haven't heard of any of the bail out companies includebringing jobs back to the USA. Are any considering employing our US citizins instead of stimulating other countries economies? Seems to me offshoring and manufacturing plants in foreign lands was the beginning of our downfall –


Linda Lou - Colorado Springs   December 3rd, 2008 9:35 pm ET

Due to the lack of Government Administration with the AIG and Banking bail outs I am uneasy to the extreme with this new bail out consideration of our auto industry without major and quantitative oversight!

In addition, General Motors is boasting to cut 31,000 jobs and 11 plants as part of their "new business plan" – I want questions raised in the upcoming meetings to find out if the intended job cuts and plant closings are relative to their overseas operations, the United States, or a mix. If they do not intend to cut major costs overseas let them get their bail out from another country – NOT FROM MY TAX DOLLARS!!!!!

As a recent victim of Auto Industry lay-offs I know for fact that if GM (Ford, or Chrysler) fail other manufacturers will re-tool their vehicle demand/supply manufacturing operations thereby increasing employment within their plants, dealerships, and, dealers will hire additional service technicians to service and repair GM/Ford/Chrysler models.

I currently own a GM product and have it serviced/repaired at a Nissan Dealership! I am sick of the chicken little/the sky is falling baloney about this – in fact, if I needed an alternator or any other mechanical part for my American made automobile I do not have to buy OEM and in most cases they are far less expensive, perform and last just as long and in some cases better than OEM!

Please do not give these companies card blanc on my tax dollars – make them agree to extreme scrutiny and accountability for every dollar spent as well as major cuts overseas and bring those jobs back to the United States where they belong and should have never been allowed to leave with tax breaks to boot!
Thank you for your time and consideration.
Linda Lou Starr/Colorado Springs, CO 80904


Peter   December 3rd, 2008 9:35 pm ET

No, I strongly disagree with the auto bailout. It seems like the taxpayers would be delaying the inevitable. I feel sorry for the auto workers but what can you do... these are tough times.


Arnaldo Mourino   December 3rd, 2008 9:35 pm ET

Larry...
The responsible thing to do is to preserve the infrastructure of the American workers in the Auto Industry.
I believe that the American Taxpayers money should be accountable to boost the Auto Industry by providing an investment to the Auto Industry with a ESOP structure by giving faith to the Auto Workers.
Let us provide a Taxpayer's bailout in the form of an Employee Stock Option Program; the true backbone that the American Taxpayer's support to this industry and watch how this investmen will payoff far better supplying the funds directly to management!


Walton Yantis   December 3rd, 2008 9:35 pm ET

I do not.


Shawn   December 3rd, 2008 9:35 pm ET

No, I don't support a bailout. I feel that like Michael says, they're just going to take the money and blow it and making cars that we don't want and that are not feasible. I feel that we should let them file bankruptcy and start from the ground up. When a child makes a mistake, we punish them, not give them a sucker and hope that they don't make that mistake again.


David Collier   December 3rd, 2008 9:35 pm ET

No I don't support the current bailout plan, I agree with Mr. Moore. On the other hand, we've spent 1.6 trillion on a financial industry that no one understands....so what's the point of quibbling over 35Billion? Are we missing the larger discussion?


herve   December 3rd, 2008 9:35 pm ET

Michael,

What do you think about the financial bailout?

Thanks

Herve, the french guy.


Sandra Chancelor   December 3rd, 2008 9:35 pm ET

Why would you have someone like Michael Moore commenting on the car business! He can't even keep himself looking clean enough to be on your show. Who in the world would even listen to someone who looks like that. Tell him to clean himself up and he might be taken more seriously.


ronnie williamson   December 3rd, 2008 9:35 pm ET

Will the CEO's and big wigs of the automakers take a generous pay cut if givin this money? How much money do these big wigs in the auto industry make and how many little people jobs does that covert to?


Roger Rodrigues   December 3rd, 2008 9:35 pm ET

NO NO NO


Amy Ellis   December 3rd, 2008 9:35 pm ET

Yes, Yes, Yes. We cannot let the workers down. It is NOT their fault the companies are not making a profit right now. But we MUST continue to make cars in this country!!


Satish   December 3rd, 2008 9:35 pm ET

Larry,
I could n't agree more with Michael more. He is absolutely correct. How come one can trust the same management change over night or over a period of one month seeking for $18B of your and my money?


Andrea Russell   December 3rd, 2008 9:35 pm ET

No, the Government should take that money and put it to training all the out of work auto workers. I agree with Michael, we need mass transit.


Linda Whelan   December 3rd, 2008 9:35 pm ET

LARRY, I DON'T THINK THAT THEY SHOULD GIVE THEM A BAILOUT, BECAUSE GM IS BUILDING A NEW PLANT IN RUSSIA. WHY SHOULD WE BAIL THEM OUT WHEN THEY ARE GIVING PEOPLE IN A FOREIGN COUNTRY OUR JOBS? TELL THEM TO BRING THE JOBS BACK INTO OUR COUNTRY AND THEN WE WILL HELP YOU. THERE IS SOMETHING TERRIBLY WRONG HERE. THE CEO'S SHOULD TAKE A CUT IN PAY. WHY SHOULD THEY STILL GET ALL OF THESE PERKS AND THE MANUFACTURES ARE BEING ASKED TO GIVE UP MORE MONEY. WHAT ARE THEY GIVING UP? WHY DON'T THEY TRY TO LIVE ON WHAT WE HAVE TO LIVE ON? WE THE MIDDLE CLASS ARE THE ONES THAT MADE THESE CEO'S WHAT THEY ARE. THEY DIDN'T DO IT ALONE, BUT THEY DON'T THINK TWICE ABOUT SHIPPING OUR JOBS OVERSEAS. WHY DON'T THEY FIND SOMEONE IN ANOTHER COUNTRY TO DO THEIR JOBS CHEAPER?


Chris Walsh   December 3rd, 2008 9:35 pm ET

Michael seems to have the common sense necessary to move the auto industry forward....Obama needs to hire him on as a consultant!


Milica   December 3rd, 2008 9:35 pm ET

Will the CEOs give themselves a bonus if they succeed in this bailout?


Cari   December 3rd, 2008 9:35 pm ET

NO WAY. I thought this was AMERICA, and I thought we had a FREE MARKET. Then again, I am only 23, what do I know...


KMADD   December 3rd, 2008 9:35 pm ET

Larry,
It is my understanding their is more middle management then labor employee's. Is this true? If so get rid of the weight the proper way, element the managment salaries and keep the worker bees.

I agree until they change their ways NO BAIL OUT.

Portland Oregon


Suzi in Millwood, NY   December 3rd, 2008 9:35 pm ET

What doesn't Big Oil bail out Big Auto? The auto industry has been in the pocket of the oil companies for years, helping Big Oil make all of that Big Money by building inefficient cars. Let Big Oil help solve this mess.


Edwin Castro   December 3rd, 2008 9:35 pm ET

NO, they do not. The big three had their chance and they screwed it up big time. Give the bail out money to a company that's really going to do some good


donna clauss   December 3rd, 2008 9:36 pm ET

I totally agree with Michael Moore's view that we should not provide bail out money to the automakers and then have them lay off more middle class hard working people.


Glenda   December 3rd, 2008 9:36 pm ET

I absolutely agree with Michael Moore, I usually do. I really hope our President-Elect is watching the show tonight.


Bruce James   December 3rd, 2008 9:36 pm ET

No


jake harper   December 3rd, 2008 9:36 pm ET

The government should give the money to the companies on one condition force them to keep the jobs in america.


Amanda   December 3rd, 2008 9:36 pm ET

The United States needs banks to function in financial world, not auto companies. I get it, there are a lot of jobs at stack, but even with all the money in the world, all three companies will be making job cuts. People will lose their jobs, no matter what.

Let the "big three" figure it out on their own.


Kevin   December 3rd, 2008 9:36 pm ET

Absolutely not. I do not support a bailout of the big three. Where does it end. Who will be next to need a bailout. Like Lou Dobbs said that money could be used to better our schools. Why aren't we bailing them out.


Anne Troy   December 3rd, 2008 9:36 pm ET

Absolutely no money should go to these rich guys who have failed their companies, their employees, and the United States. They make millions of dollars a year because they're not supposed to let this kind of stuff happen!

Give the money to Michael Moore and Brad Pitt. It will go much farther!


Jamie Geremia   December 3rd, 2008 9:36 pm ET

If anyone should bail out the auto companies, it should be the oil companies, because they are the one's who pressured them to build non fuel-efficient vehicles.


Ron H   December 3rd, 2008 9:36 pm ET

I support a bailout on the following conditions:
1- All 3 must declare Chapter 11 reorgnization first
2- All 3 must have a viable 5 year plan after reemerging from Chapter 11
3- Chrysler should be merged with either GM or Ford and Cerberus should not be compensated for a bad financial bet


MonicaD   December 3rd, 2008 9:36 pm ET

Absolutely no bailout for the big 3. The arrogance to use America and the tax payers as its pawns is purely disgusting. They have had years to retool and recognize that ecomonical vehicles is what americans need!


Joseph Villano   December 3rd, 2008 9:36 pm ET

I believe that the 3 major auto makers should come up with better more efficiant vehicals, then go ahead and ask for a bail from the goverment


Eric - Boston, Mass   December 3rd, 2008 9:36 pm ET

Between a rock and a hard place on this one. Bailing out the Big Three is better than outsourcing these jobs abroad...

Eric

Boston, Mass.


Anil Kar   December 3rd, 2008 9:36 pm ET

It's ridiculous but needed..Give them the loan but with the leaders removed and new management installed. A strong vision 2012 is necessary NOT elimination of job vision!!


Connie   December 3rd, 2008 9:36 pm ET

I don't support bailing out the Big 3 unless they come up with a plan like Michael just came up with. I think he's dead on!!! Unless they want to eliminate 22,000 Upper mgmt jobs they shouldn't be eliminating any jobs or sending anymore overseas.

Thank you,
Connie


Jennie   December 3rd, 2008 9:36 pm ET

My initial reaction to this question is no...but then after thinking about the billions and billions of taxpayer dollars spent on Iraq, it seems like they should be helped out...if only they do the three things that Michael proposes. I hope Obama can see this through.


Nate J   December 3rd, 2008 9:36 pm ET

I agree completely with Mr. Moore. The financial bailout makes sense because the banks don't have a history of failure but have been leading the world in finances. GM has been strugling for the past decade competeing with foreign auto makers.


Faye Rollins   December 3rd, 2008 9:36 pm ET

If the oil companies want to continue getting rich off of the backs of americans, then the oil companies should bail out the car companies.


Susan McCormick   December 3rd, 2008 9:36 pm ET

NO!!! We have bankruptcy laws in place for this kind of situation.


Timothy Mullen   December 3rd, 2008 9:36 pm ET

No, I do not support the bailout. What are competing companies doing differently? Where do the big 3 stand in scheme of things? Who sells the most cars? None of the big 3.


Abby Goodman   December 3rd, 2008 9:36 pm ET

I think Michael Moore is absolutely right on!


Michelle   December 3rd, 2008 9:36 pm ET

It is interesting to have Michael Moore one of the biggest union supporters against a bailout. The reason they need a bailout is due to the Unions and their rules. 1. Paying people who do not work, and 2. sticking to old rules that do not let them get things done as efficiently and allow the big 3 to compete. So no I do not support a bailout but I am shocked MM does not.


George   December 3rd, 2008 9:36 pm ET

Yes, I support the bailout of the Auto Industry, when and only when GM, Chrysler and Ford have the same vision and put out the quality vehicles with the needed alternative fuel technology as Volkswagon, Toyota and Honda.

George from Germantown


Travis from Houston   December 3rd, 2008 9:36 pm ET

I agree to a bailout if terms like the ones Mike put forth could be adopted. I live in Houston where it took us 15 years to build an above ground rail line because of all the permits and garbage obstacles that come with building something through the public domain.

If the president set a mandate that said 'Enough' of this crap, get the mass transit system done, and get it done now, our country would be a lot better off in so many ways. Keep up the good work Mike!


Daniel Shemtov   December 3rd, 2008 9:36 pm ET

This bailout to the automakers should only be rendered and contingent upon the resignation of these idiot corporate leaders. America should not lose sight of strict accountability.


Charlie Mitchell   December 3rd, 2008 9:36 pm ET

No. Give the money (far less) to Better Place, Tesla, Ballard Power, etc.


Warren   December 3rd, 2008 9:36 pm ET

I think the Gov should give us tax payers a coupon to buy an american car. The car co's will then boom and us tax payers get a car. We all win not just the executives of the car co's.


Aarti   December 3rd, 2008 9:36 pm ET

I agree with Michael Moore....there should be no bail out, the auto Industry has been a let down, let them layoff their execs!


Phil Stanley   December 3rd, 2008 9:36 pm ET

NO.....Let the automakers reinvent themselves. We the people are forced into bankruptcy in trying times like these. Corporate American can face the same fate.


Anthony   December 3rd, 2008 9:36 pm ET

No bailout please. Nobody bailed me out when I got laid off. I am still laid off and almost dying of stress trying to figure a way out. So everyone should do the same


Janie   December 3rd, 2008 9:36 pm ET

I hear what Michael Moore is saying, however, 20,000 out of work is better than 2million......


FAROOQ   December 3rd, 2008 9:36 pm ET

Two tips from my article about the auto industry

Give up the fight for being #1
--------------
Look at VW. It does not sell the most cars, but it does make a lot of dough. GM needs to give up the race for being the number one automotive manufacturer and settle for simply being an automotive manufacturer that actually makes some money when a vehicle is sold.

You make a lot of cars which spend a lot of days on the lots resulting in a lot of discounts which leads to a lot of loss. How about, you only make the amount of cars you can actually sell.

Rename the cars
-------–
And for crying out loud, rename some of the cars. Who wants to drive a car called Mali-boo regardless of how many improvements they have made. How come Civic is synonymous with value and quality and Cobalt with penultimate in cheap materials and quality. Shake things up and provide consumers a new perspective. Oh and do you remember if the Grand AM was a step higher than the Gran Prix?


Susie   December 3rd, 2008 9:36 pm ET

NO WAY JUST TO PAY THEIR HIGH SALARIES. WHAT GOOD WOULD IT DO, THE PEOPLE DON'T HAVE MONEY NOW TO BUY CARS, WHY WOULD THAT HELP. WE ARE THE ONES THAT NEED A BAIL OUT.


joe loredo   December 3rd, 2008 9:36 pm ET

if the car mfg's want to be "bailedout" shouldnt the car mf's bail out those individual borrowers who purchased their cars thru theri lending companies, e.g. GMAC credit corp?


Justice Gradowitz   December 3rd, 2008 9:36 pm ET

The automakers are in this situation in part because of the economy and credit markets, but also due to poor planning and management. Why would we finance this same leadership with our tax dollars? Capitol Hill needs to make sure American dollars are being invested wisely before we give billions of dollars to the big 3. What is our ROI?


Kevin Kindschuh   December 3rd, 2008 9:36 pm ET

I never thought I would agree with Michael Moore, but he is right on! It is time to get rid of the me generation upper managements in this country. We should be judged how the poor live, not the rich.


Jason   December 3rd, 2008 9:36 pm ET

Greed and inept business tactics should not be rewarded, but doing nothing is not an option either. As a wholesale car dealer, I am worried about the millions of jobs and countless mom and pop small businesses that will be effected if the companies are allowed to collapse. There is much more than the big three and their workers at stake here.


Alejandro Arrieta   December 3rd, 2008 9:36 pm ET

I do not support the buyout. Back in October the federal government gave the nine largest banks $250,000,000,000 to bail them out. Banks are in the business of lending money....not the gov't. The nine largest banks, the three automakers, and the gov't can all get together to figure out how the banks can lend some of this $250,000,000,000 to the automakers to assure that all three entities and the tax payers win.


Bob   December 3rd, 2008 9:36 pm ET

No. Let the government take over the industry, hire responsible managers to produce the right kind of transportation (green), then resell them at a profit to the tax payers.


Treva   December 3rd, 2008 9:36 pm ET

Although they don't deserve a dime of our hard earned dollars, I feel that it is needed given the state of our economy. If they are given this money, they need to bring all jobs back into the US and STOP firing their workers.


Jared M   December 3rd, 2008 9:36 pm ET

I do not support this bailout unless we demand from the Big 3 that they produce public transportation, hybrid/electric cars, or any other demands the American Public needs. Take a note from Hunter S. Thompson's Hells Angels.


Jim Taylor   December 3rd, 2008 9:36 pm ET

They need to flounder just like all of us loosing in this horrible economy


Sean Mansfield   December 3rd, 2008 9:36 pm ET

Michael Moore says he wants to bring in the best minds to run the auto companies. How does he propose to pay those best minds? I think he will be shocked when he finds out they wont be paid in potatoes and cheese...... When he finds out they will have to be paid multi million dollar contracts, his fantasy world will finally collide with the real world.


Linda Green   December 3rd, 2008 9:36 pm ET

I am concerned that so much media coverage has been given to the automakers, yet there is not even a mention of citibank. Where is the oversight on this money that is not a loan, like the proposal to the three automakers, but an out and out give away. Yesterday Citibank was proposing hundreds of millions of dollars to a stadium for putting their name on it. Where is the outcry?!

Will we have to march on Washington, DC to stop this big bailout giveawy? Any plans for that Michael?


Angela   December 3rd, 2008 9:36 pm ET

There was a funny comic I saw today that suggested using a bailout plan where a bag of money is held over a cliff, and the fat cats chase after it and fall off the cliff.

It is hard for me to feel too sorry for the guys on top, but I am concerned for the workers. I wish there was a way to help the company so that it benefits the workers and not the fat cats.


Greg   December 3rd, 2008 9:36 pm ET

Yes, I support an investment in the auto companies, as long as:

* The union cuts costs
* Management cuts costs
* They build cars better than any other country

Otherwise, we (the USA) will be in deep, deep trouble economically.


Kristian   December 3rd, 2008 9:36 pm ET

No!!!


John, AZ   December 3rd, 2008 9:36 pm ET

No. I do not support a tax payer bailout of the big 3. They've made their bed, let them sleep in it. I would rather have a slightly longer recession and a restructured auto industry through bankruptcy then for us to postpone the inevitable.


Luke Daisy, Austin TX   December 3rd, 2008 9:36 pm ET

I do not think that leaving the current people in charge is a good idea. If we are going to pay for these CEOs' mistakes, then new CEOs should be appointed and they current ones should get no bonuses or anything of that sort.


Darrell Wayne - San Francisco   December 3rd, 2008 9:36 pm ET

Larry, I agree with Michael Moore 150%! The CEO's need to be fired and let them go bankrupt and then restructure. The salaries should be ut and get rid of the unions. Even if the economy recovers, who wants to buy these outdated gas gusslers? They need to focus on mass transit and hybrid vehicles. I feel for the autoworkers, but hey, no one is bailing me out. I have no job, but I do get unemployment insurance, so can they!


Theresa Wills   December 3rd, 2008 9:36 pm ET

Michael Moore is expressing my thoughts and I appreciate his viewpoint! We need more electric and hybrid cars. They should be made in this country and exported to others. Its time for a change.


Barbara Campbell   December 3rd, 2008 9:36 pm ET

I absolutely do not support the bailout of the automakers.


Tim Orlando   December 3rd, 2008 9:36 pm ET

The big three should be denied a taxpayer funded bailout. If the auto industry needs someone to float them a loan, I'd suggest that they contact their friends in the oil industry.


Jimbo   December 3rd, 2008 9:36 pm ET

It would help if the Big Three were to make cars that people wanted to buy.

Jimbo in Toronto


Michael Dalley   December 3rd, 2008 9:36 pm ET

I am from Lansing, MI. I say let the water seek it's own level. I do not support the bailout. How many years have high school educated people protected by a union get overpaid and underworked? Fire everyone, start again with non-union labor. Why do you thing the south has been so successful? They control labor costs!


Jeremy McIntosh   December 3rd, 2008 9:37 pm ET

No, I dont support the bailout. But remember, Americans didnt support the 700 billion dollar bailout either. The american peoples opionions are being undercut by the poloticians we elect to speak for us.


Ophelia   December 3rd, 2008 9:37 pm ET

No No No..............
They should not get a penny unless they can produce
cars that can compete With Honda, Toyota & all other
cars from all over the world......
It will be a waste if we help them without conditions &
Brand New Managments......


Michael Harris   December 3rd, 2008 9:37 pm ET

No, I don't support the bail out. We need to look and think strategically at the very idea of continuing to make cars and assuming our economy must continually expand. Resources are finite and the earth's capacity to accommodate our waste is finite. Cars are dinosaurs. Now is the time, after decades of ignoring the opportunity, to move into renewable energy, mass transit, local economies and sustainable systems.


Dustin Solis   December 3rd, 2008 9:37 pm ET

Larry I agree with Michael, Detroit has been doing this for decades! We landed man on the moon in 1969, but yet we can't build "green cars" or those that perform like the Japanese?


Ken from NYC   December 3rd, 2008 9:37 pm ET

Is it just more, or shouldn't the oil companies who have made all these record profits over the years from these 3 automakers who refuse to make fuel effecient cars bail them out? They would suffer more if these companies go out....Foreign car companies are making cars that run on less oil! Let them use these record profits to bail them out!


Bob Petrone   December 3rd, 2008 9:37 pm ET

Is this a loan or a bailout?


Walt - Daisytown, PA   December 3rd, 2008 9:37 pm ET

Yes we should bail them out, but only with controls. The big 3 have arms that reach into almost all of our hometowns with various parts they and the sub contractors purchase.


Richard Gales   December 3rd, 2008 9:37 pm ET

Not a dime. Give it to the people instead. The CEO will work for $1, but how big is his bonus?


Charles Mukuka   December 3rd, 2008 9:37 pm ET

I support the bail out but stiff conditions should be attached. A plan as outlined by Micheal Moore is what is needed, a strict government hand in determing what is made and sold to the customers, taking into account the majority of the people's interest.


Kartik   December 3rd, 2008 9:37 pm ET

Yes but it should be an investment rather than a freebee. The government should enforce them to build more fuel efficient and environment friendly cars. Streamline the different brands. Reduce the redundancy. Renegotiate the contracts with UAW. Diversfy the business to build similar products.


Tony Vitale   December 3rd, 2008 9:37 pm ET

I'm a current GM worker now and Congress never asked me if I wanted my tax dollars used for bailing out Wall Street.

Why shouldn't Wall Street bail me out now ?? What's good for the goose is good for the Gander, right ?


Robert L. Randell   December 3rd, 2008 9:37 pm ET

The only way to lose the current management is to let them fail. So let them fail.


Hisham   December 3rd, 2008 9:37 pm ET

I do support it, but under the right circumstances. New management, and new methods of energy efficient transportation. No more job losses! I just got laid off can somebody hire me?


vkotra   December 3rd, 2008 9:37 pm ET

I agree with Michael, that bailout should be supported conditionally and shouldnt be be given to automakers under current management


David   December 3rd, 2008 9:37 pm ET

Big 3 Management must step up and reduce the lead time to cars that the people want, not what management wants to make. They must be more aggressive and set higher goals. 3 years to a gas efficeient car is ridiculus and if they can't make it, don't wast our money.
Dave


Kevin   December 3rd, 2008 9:37 pm ET

NOOOO! We should not bail out the US auto co's. Their leadership is arrogant and has not changed. They think the country owes them instead of the other way around. Replace them all and we will think of bailing out the companies to save jobs. We used to produce the best cars in the world. Now we are behind Korea.

Kevin Houston


Jeff Yeager   December 3rd, 2008 9:37 pm ET

I support a bridge loan NOT a bailout. Let's get the semantics right. Do we want to let the auto industry fade away like we have alot of manufacturing companies? Yes, the auto industry has made mistakes, but it will be a real tragedy to let another industry fail.


Connie Strausburg   December 3rd, 2008 9:37 pm ET

Are you kidding me? Hey Congress, come down here & bail me out!
I think all of us should refuse to pay taxes if they keep bailing out the filthy rich!


C   December 3rd, 2008 9:37 pm ET

Yes I support the tax payer bailout as long as it does not support the unions that put the auto industry in the postion that it's in. We need to work on eliminating the cost associated to union labor. Talk about a restructuring!


Gary   December 3rd, 2008 9:37 pm ET

I dont expect anyone to come to our rescue.People have been jealous of auto workers along time so now here's thier chance to try and hurt us.The back bone of the US economy for many yrs.10 jobs are related to every auto worker so think about it.


Dennis James   December 3rd, 2008 9:37 pm ET

I support Mr. Moore's idea of how to fix the auto industry. He knows what he's talking about. We can not give all this money to these idiots who run the industry now.


Yasso   December 3rd, 2008 9:37 pm ET

A bailout is not the solution – the US economy is already massively in debt because of factors external to all of this – which means their involvement globally in world affairs (i.e. Iraq et al) spending money where it could be used more wisely.

A bailout is not the solution – the solution is stop wasting tax payer money on an illegitimate war.


John W   December 3rd, 2008 9:37 pm ET

My question is: Since the Big 3 have foreign interest in building
vehicles in other countries are those countries and citizens of those
countries going to promote their tax dollars to provide bridge loans?


Daniel   December 3rd, 2008 9:37 pm ET

Giving the Big three tax dollars is just going to keep digging the hole deeper. The only way to get these car companies from siphoning more money from the American public, they need to go green and invest more in fuel efficiency.


Linda Comer   December 3rd, 2008 9:37 pm ET

The auto companies need a bail out for the good of the workers...BUT not with the present CEO's of this company. They do not care about the american workers and they do not care about the quality of their cars. They need new talent with a vision on good economical cars. I am against any bail out with the present leaders leaders in place.


Lynda Jackson   December 3rd, 2008 9:37 pm ET

Absolutely not. Unions had their place in manufacturings history, but no more. Unions have destroyed the big three automakers. Look at the man hour of one the three mentioned above versus one of the southern auto manufacturers. There is no comparison.


Troy   December 3rd, 2008 9:37 pm ET

No I do not support the bailout. They will waist the money as they have in the past. I agree with Mr. Moore that we have to move to mass transit but in addition the unions must be broke so that Detroit can compete with foreign car makers in the south.


Paul   December 3rd, 2008 9:37 pm ET

One of the three has been involved in buidling a new plant in Russia. Is that still in the works and if so why is not be scrapped in order to promote more American jobs?


John   December 3rd, 2008 9:37 pm ET

I do not hear much about the Unions taking pay cuts, is it true they make approximately $70 per hour? Don't you think that the union workers are over paid and should be willing to make sacrifices?


Phoenix   December 3rd, 2008 9:37 pm ET

Absolutely not, the civilians get poorer and poorer everyday, while the CEO's of the auto industry drink fine champagne and caviar. The car companies need to get their act together or we will just bring in the international auto builders to take over.


Mike   December 3rd, 2008 9:37 pm ET

Why do we need three automakers?


Deborah Eisberg   December 3rd, 2008 9:37 pm ET

Michael Moore speaks my mind!


Yolonda Spinks Memphis Tn   December 3rd, 2008 9:37 pm ET

I support a bail-out with restrictions to the big three and the union. In addition, Chrysler needs to make those statements public before they get a dime of tax payer money, period.


Diane   December 3rd, 2008 9:37 pm ET

Instead of giving money to banks, auto makers etc. why doesn't the government give the money to the people that will spend it...the middle class. We will go out and spend (i.e. buy cars etc),save some of it which puts money in the banks for more people to borrow....What an idea...we get our own money back to actually spend so more people can keep working. We need to limit compensation and wages to management should only be 10% above the people that wrk for them..like it used to be...


Czeslaw Knobbe   December 3rd, 2008 9:37 pm ET

Larry what part of NO! Don't you Understand? Michael is right if we give them the money they will take them and fill the gap in the payroll department, suppliers and paying off the past loans. Paying for the fuel trips for the corporate jets. Oh yes they will fire 30 or thousands more employees. Just Like Senator Clinton Said. " No way No how no Bail Out"


Michael Breslow   December 3rd, 2008 9:37 pm ET

I say let the automakers go bankrupt and dissolve the unions as we know them today. No one is worth $75 an hour to drive a forklift. Give the workers reasonable health-care and other benefits for retirement but let the business become what business is supposed to be.,..able to stand on their own or fail. Thomas Jefferson once said, "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."


David   December 3rd, 2008 9:37 pm ET

Instead of goverment bail out, why don't we get the oil companies to put up funds needed?


John Spence   December 3rd, 2008 9:37 pm ET

Michael Moore is critical of the current leadership of the big 3. Does he realize that both Ford and Chrysler have fairly new leaders with new ideas? He has no idea how these leaders have changed the culture of these companies. Moore is living in the 70's with the information he displays.


Stan - San Francisco   December 3rd, 2008 9:37 pm ET

For the sake of those viewers, who don't fully understand your question, I would encourage CNN to refer to the 'bailout', as a citizen-sponsored 'LOAN'. This will eliminate the misunderstanding that we will 'give' the auto manufacturers anything. Believe me, there are those, who think the latter...


fabiola galindo   December 3rd, 2008 9:37 pm ET

the government has been bailing out all the big corporations, and while YES they hold a huge portion of available jobs, they still have been manufacturing non-fuel eficient cars and they have also been shipping jobs overseas. i would like to see a bailout for small business owners, people who have worked their lives, not only to improve their lifestyles but also to give jobs to more families...


Natalie   December 3rd, 2008 9:37 pm ET

Yes I support bailing out the auto industry...but only if the management heads and ceo's heads are replaced and sent packing to whatever country they've sold us out to...without pensions. The loyal workers and taxpayers deserve to continue making a living but these crackhead ceo's need to be terminated. Lets send these money mongering meatheads packing!


Michael, Glendale Az   December 3rd, 2008 9:37 pm ET

U.S. automakers lose money, move plants out of country.
Japanese automakers move factories to U.S., shows profit!
What's wrong with this picture??


michael henslee   December 3rd, 2008 9:37 pm ET

They need to cut the workers pay,these guys make 30 to 40 dollars an hour.


Albert Stringer   December 3rd, 2008 9:37 pm ET

Yes! ONLY if they will have available a car/truck that has an avg of 50 MPG by 2010. other wise no!!!!


Meg in Oregon   December 3rd, 2008 9:37 pm ET

No money to the big three!
If it does go through...then we need to change the name of the company to Tax payer Motors.


Robert Fister   December 3rd, 2008 9:37 pm ET

Larry,

Tax payers should not bail out the automakers. I think Exxon and Mobile should support the bailout.


Jeff P   December 3rd, 2008 9:37 pm ET

Michael is right about this. Earlier this year we shopped for a new car and I was astounded at how poorly the auto industry had improved in the past 10 years since I last bought a vehicle. I was looking at the same vehicles, same gas mileage with GPS, DVD, etc.

Go to the SouthEast and you will find auto makers doing just fine. I say forget Detroit and lose the unions. The unions destroyed the steel industry and now they've destroyed Detroit.

The South has risen once again!


Sammy   December 3rd, 2008 9:37 pm ET

None of the three automakers have shown how they will effectively compete with the Japanes and European car makers. Until they focus on this, there will be fewer deals in the showrooms for them...which in turn will determine the ultimate outcome of any bailout.


dianenewland   December 3rd, 2008 9:37 pm ET

My concern regarding the loan is "who" is going to buy the autos
they build? There are thousands of vehicles sitting on the docks
in California right now. I agree, we need to re-think this whole
trillion dollar bail-out.


Kevin...North Port FL   December 3rd, 2008 9:37 pm ET

No...When things were good the big three enjoyed huge profits they should have saved for a rainy day like the rest of us.


Ron from NY   December 3rd, 2008 9:37 pm ET

Yes, if the auto industry fails shortly after it will all circle the drain.


Karol   December 3rd, 2008 9:37 pm ET

Yes, I support the bailout (with conditions). The company and unions must be accountable to someone. We cant afford our auto industry to self distruct.


Terry   December 3rd, 2008 9:37 pm ET

I do not think that the auto makers should get help. I believe that the 800 billion should have gone to creating jobs, mass transit, repairing our bridges, and building schools etc. Create jobs for the environment.


brian benko   December 3rd, 2008 9:37 pm ET

I think wallstreetwelfare.com says it best.....

The big three do not deserve a bailout.

The unions and the executives together destroyed the big three.

They ignored consultants.

Ignored the environment....

They deserve to fail.

I served my country for four years. Union members get better benefits than US military members.

Where were they when national healthcare was being talked about years ago....

Now they support it....

it is all disgusting.....

Not willing to take $1 salary the first time they came to DC. Now they are...


Ray Glaser   December 3rd, 2008 9:37 pm ET

I dont think we should bailout any of the big 3. Although I am with most Americans in that I think the auto industry is vital to our US economy, I dont believe a free handout will secure their financial future. Instead, we need to spur economic growth in ways that drive demand for our vehicles and increase the ability for the consumer to pay for them. Simply giving free cash to for profit companies doesn't seem to be the best use of taxpayer dollars.


Robert   December 3rd, 2008 9:37 pm ET

I agree with Michael Moore. We need to keep the plants open, but not under the same incompetent managements. We need to stipulate they re-tool to build appropriate products. o blank check for current management.


Larry from Palmdale CA   December 3rd, 2008 9:37 pm ET

why should the US taxpayers support this bail out?
did we or the gov't help the steel market?
the gov't let the steel market go overseas.....
how is this different?


Amy Ellis   December 3rd, 2008 9:37 pm ET

Yes Yes Yes. We must not let them fail. It is NOT the workers fault they are not making a profit right now. We must continue to make cars and trucks in this country. It is imperative to the survival of this country. And why is it that only the auto industry had to provide Congress with a plan. Why didn't the banks or AIG have to do that. That is sad!

Greenfield, Indiana


Jeff London   December 3rd, 2008 9:37 pm ET

How many times have we gone to a car dealership and have been ripped off paying 10 times what car parts should cost!!! They have built built-in junk obsolescence. Bail out the company, with collateral and then FIRE ALL THE CEO'S AND top management. Get some brilliant minds in there to take over and steer those ships.


kevin   December 3rd, 2008 9:37 pm ET

If the big 3 close all the plants & jobs they sent outside our borders and return them here and hire american people...and do what mr. moore is speaking of – building hybrid cars, rail transportation and buses then yes I do! Thanks


Bill   December 3rd, 2008 9:37 pm ET

Yes, I support the Big 3 Automakers bailout–without it millions of jobs will be lost if these 3 automakers sink.


Michele   December 3rd, 2008 9:37 pm ET

I SOOOO agree with Michael Moore. The CEO's in charge of the Big 3 have run them right into the ground. Step one – no bailout without the CEO and their immediate minions stepping down. Search out the guys who tried to warn management they were headed down the wrong path – and put THEM in charge – or hire the best, the brightest and let them take over.

Step Two – no bailout if there are massive layoffs. Why on earth would I want my tax dollars going to a company who is going to further damage the economy?

The Big 3 need to find ways to keep ALL their workers working – and they need to stop making the gas guzzlers. They should have realized when Toyota and Honda hit them hard what it is America wants to drive, but they were greedy.

Step Three: the Unions, in order to keep their workers employed need to give up some of their benefits and accept some type of pay cut. Seems to me the choice is give some or lose it all.

Michael Moore ROCKS!


Linda from Indiana   December 3rd, 2008 9:37 pm ET

Larry and Michael,

I think it would be hard to decide whether to help them or not.
Over the last 50 years man has brought their ownself to ruin.
Let them deal with it by cutting back on their own luxurious
lifestyles. I can't afford a new car. Lower the prices of vehicles.
It's ridiculous. We will keep our vehicles until they die. lol

Michael I think you are great and right on.

Larry your a great man.

Linda
Indiana


Dave Hein   December 3rd, 2008 9:37 pm ET

I agree with Mike I think we need to bail the auto companys out but we need to tell them how they can use the money and what to build. Dave from Traverse City, Mich


Ash Kachrani   December 3rd, 2008 9:37 pm ET

What automakers need to do is stop making cars which consumer don't buy. Re-focus efforts on making fuel efficient cars and limit number of products in the pipeline to be competitive with global manufacturers. Let's stop making 20 hours instead build 5 cars which customer will likely to buy.


val   December 3rd, 2008 9:37 pm ET

Let the oil companies bail the big 3. There should be full disclosure on the PAC monies give to all elected government officals.


Brent Martin   December 3rd, 2008 9:37 pm ET

I think michael is absolutely right. Today is the time to demand that the automakers begin to produce practical solutions that relates to the changing demands of the current economic and climatic problems. Imagine what a country and what a WORLD it would be if all the great thinkers gave their effort in all the right places....Its time to be proactive, not reactive!


Denis Raczkowski   December 3rd, 2008 9:37 pm ET

Nuts! To the bailout. Throughout its history, GM has used predatory tactics (controlling all the copper in the 1950's) to eliminate fine auto companies like Packard.Let GM now taste its own medicine.


Marcia   December 3rd, 2008 9:37 pm ET

No. I think they should declare bankruptcy, reorganize and start again, like any other company. Bailouts are not capitalism or socialism, it's something else entirely. Stupidism, maybe


Bettye   December 3rd, 2008 9:38 pm ET

Agree completely with Michael Moore. Get rid of current people who've been running the auto companies and get new leadership that understands and will promote the kind of transportation that is needed now.


Mary Beth   December 3rd, 2008 9:38 pm ET

Go Michael Moore!! Your email to me was the best. We can't let the Big 3 go down. I live in Flint, MI and it's a sad site!


Kirk Nygaard   December 3rd, 2008 9:38 pm ET

I agree with Mr. Moore. We, The tax payers, don't need to throw money down the drain so the Big 3 can stay the Big 3 and put more people out of work


Carlos   December 3rd, 2008 9:38 pm ET

I believe that the automakers should be allowed to fail. The government cannot keep bailing out failed business in the US, failure is part of free markets. Someone has to be accountable for the mismanagement. I support replacing the auto industry in Detroit with a new change, clean renewable energy in its place. Give 34 Billion to invest in our future.


Ron Crawford   December 3rd, 2008 9:38 pm ET

I approve a federal bailout of the car companies only if there are fundamental changes in their business plans and the management that created the problems in the first place. They have to stop building the wrong cars for the wrong time.


Bob Braile   December 3rd, 2008 9:38 pm ET

The contemporary definition of insanity is doing the same thing over and over, but expecting a different result. No, I do not support the bail out of the BIG Three. We need to issue money based on bids for alternative fuel transportation vehicles. If we are going to pay for something, let's pay for a future, not to bail out the past!


Future Teacher   December 3rd, 2008 9:38 pm ET

Yes, but it must be to better, safer, and more efficient vehicles. How about some $ towards public education?


Carl   December 3rd, 2008 9:38 pm ET

No. They should not be bailed out. Michael Moore has a grasp on right and wrong, but does not understand today's economy. US automakers need to be competitive, or they will continue to lose. The big three need to cut capacity in half. The UAW is obsolete and should be dissolved. This is todays reality.


Lorraine   December 3rd, 2008 9:38 pm ET

No I do not support tax payers bailout the big corp of American . I think they should send out vouchers to all us Middle and lower class ..This way we can purchase cars from the overstock car lots, Then maybe with transportation more people can work


Dr. Kris Tamirisa   December 3rd, 2008 9:38 pm ET

Dear Larry,
THINGS TO BE DONE FROM 01-01-2009
1} BUILD ONLY HYBRID CARS AND BEYOND.

2) NO MORE 100 % GASOLINE/DIESEL CARS.

3) FLOOD THE MARKETS WITH HYBRID,FUEL CELL CARS ,CNG CARS ONLY

4) HUGE CONVERSION INDUSTRY TO CONVERT WILLING AND ABLE CARS ETC TO HYBRID AND BEYOND.

IF THIS IS DONE JUST SEE WHAT HAPPENS.
DR. KRIS TAMIRISA


Jacqui   December 3rd, 2008 9:38 pm ET

The current management in the auto industry, as well as the banking industry, should not be there to spend any bailout money. Think about it. If it were the average "Joe" on the job who messed up 1/2 as much as they did, they'd be fired! Pure and simple. But not only do the management stay in their jobs after failure, they give themselves millions of dollars in bonuses, etc... and then turn around and lay people off. It's insanity and it's been done for decades! No money unless we have new talented capable people and new plans. No business as usual.


Zac   December 3rd, 2008 9:38 pm ET

Congress needs to give a $2,000 tax rebate to any person or corporation that buys a new vehicle from the big three. This would create demand for their product.


Sandra Chancelor   December 3rd, 2008 9:38 pm ET

What does Michael think about the bailout the banks got? Funny they didn't have to jump through hoops to get theirs.

The American auto companies produce beautiful vehicles. Shame on the Americans who buy foreign cars and don't support their own country.


BarryR   December 3rd, 2008 9:38 pm ET

I completely agree with Micheal as in these idiots will continue to make the same mistakes they have in the past. We can't throw auto-industry workers to the dogs but there are other kinds of cars they can build rather then what they've been building. Mass transit vehicles is a good idea to have them build.


Mary Ann Boerner   December 3rd, 2008 9:38 pm ET

Yes, but only with strict terms set by the Congress and assured oversight of these three companies. Perhaps they should become the big ONE to be able to deal with foreign competition.

Also, we need new management - why would we continue to have these companies led by these ineffective leadership who led us into this mess. They ignored the trends that were occurring...Toyota got it!


Jibran Naveed   December 3rd, 2008 9:38 pm ET

What happened with the bank bailouts??? I have a 710 credit score and my records are being scrutinized as if I am asking for a bail out. they just keep the money and dont do anything!
NO TO AUTOMAKERS BAILOUT


Randy   December 3rd, 2008 9:38 pm ET

Instead of GIVING the Big 3 the money, the government should enter an agreement to BUY a certain number of cars over the next 10 years. The cars could be given to rural police departments, charities to raffle off, etc.


Robert   December 3rd, 2008 9:38 pm ET

I dont think the tax payers should bail them out. For years they have built cars that just make it till the warrenty runs out then fall apart. and that wont change


Shirley & Robert Joyce   December 3rd, 2008 9:38 pm ET

Yes, we do support the bailout. Robert is a GM retiree, we need the pension, benefits, etc. The government should do this. They did it for Wall Street. We need to keep this country an industrial base.
Thank you!


Joe   December 3rd, 2008 9:38 pm ET

Larry.

Why not let the oil companies bailout the automakers? They are making record profits and they benefit most from all these gas guzzling, oil burning cars that the big 3 automakers are manufacturing.


Mary   December 3rd, 2008 9:38 pm ET

I agree with Michael...Poor management, padding their own pockets while the workers hang on by a thread. That's right...count the silverware!


ROE   December 3rd, 2008 9:38 pm ET

ABSOLUTELY NOT. NOT AT THIS TIME WITH THE LUDICROUS PLAN THEY'VE PROPOSED. I AGREE WITH MICHAEL MOORE. HIS VISION OF WHAT THE BIG 3 (IDIOTS) NEED TO DO IS RIGHT ON TARGET. THEY HAVEN'T LISTENED TO WHAT THE CAR BUYERS HAVE BEEN ASKING FOR AND NOT WANT OUR HELP IN LAYING OFF MORE WORKERS TO LINE THEIR POCKETS AND CONTINUE ON THE SAME TRACK. IF WE BAIL THEM OUT IS IS ANOTHER SAD DAY FOR THIS COUNTRY. ROE- NY


Michael Cook   December 3rd, 2008 9:38 pm ET

The auto dealers have made millions of dollars and are some of the wealthiest individuals in this country. The dealers should re-up their franchise fee based on past sales to the manufacturers. At that point there could be some matching funds from the general public.


PK Lewis   December 3rd, 2008 9:38 pm ET

Our new President has supported the UAW, so asking them to give back so the automakers can stay afloat is hypocritical. The UAW should suffer for all of its greed. Workers should never have been given this much leverage over their employer. Bankruptcy is the only way out. Let the Big 3 fail and get out through the financial markets.


Johnny   December 3rd, 2008 9:38 pm ET

No, don't use taxpayers' money to bail out the big 3.

Make the big oil companies bail them out...they have the most to gain.


Dimitri   December 3rd, 2008 9:38 pm ET

As an engineer for GM, I find Michael Moore's comments ridiculous. He wants an automaker that is applying for $18billion in loans, that needs to get back in the black, to hold on to extra workers it cannot afford. Then he also wants the government to force GM to make products that are un-profitable in the current economy.

I'll debate michael Moore with an inside view on the REALITY that is the New Detroit.


Judy   December 3rd, 2008 9:38 pm ET

Absolutely not. If they had been spending their money wisely in the past, they wouldn't be in this mess now. Don't give them any taxpayer funds to waste. Let them file bankruptcy and restructure the business.

Please, no more bailouts!


Concerned in Minnesota   December 3rd, 2008 9:38 pm ET

Absolutely not! I aggree totally with Michael Moore. An infrastructure public transportation must be built. This whole conversation is a joke! When I left home for college, one of my younger siblings got my bedroom, no return home available, no safety net. What's up ?


Lonnie   December 3rd, 2008 9:38 pm ET

I support the bailout only if the money is spent to re-tool the factorys with cars that dont use fossil fuel. The CEO needs to be fired and all funds accounted for.

Lonnie Atlanta


Jan   December 3rd, 2008 9:38 pm ET

The auto industry will have to employ a lot more people to build buses, rail systems. Public transportation is good on so many levels.
I agree.
Can Moore touch on Gatmo

Boston, MA


Heather Frankovis   December 3rd, 2008 9:38 pm ET

What ever happened to the free market? Do not bail out GM. Bail out schools that have in trouble for the last ten years.


Marc Yacht MD   December 3rd, 2008 9:38 pm ET

I agree with Michael Moore, it cannot be business as usual. Such a bailout should require a selected team to look at the big three and determine a successful future direction. Mass transit developmentvis an excellent idea. The Europeans realized this after WWII and their citizens have benefited from that investment. It is a pleasure to travel in Europe.

As for the layoffs, that is the very issue that the bailout should be preventing. MJY


Dave   December 3rd, 2008 9:38 pm ET

Absolutely not. The auto industry should fail. It's a mature industry. Production should follow lower cost labor. Invest in job retraining and allow the industry to fail. Why delay the invevitable at great tax payer expense. We have larger problems and better places to invest federal dollars.


Nanci Adkins   December 3rd, 2008 9:38 pm ET

NO, no no


Deborah Forbes   December 3rd, 2008 9:38 pm ET

Michael Moore is exactly right. We need to throw out these dumbies and build green transportation; our workers deserve to be on the cutting edge of energy conscious technologies, especially to compete in a global marketplace. This could be the greatest opportunity yet for America to lead the way!


Brian Neubaum   December 3rd, 2008 9:38 pm ET

Larry,
Yes, we should help the auto makers, but we should require them to work towards building cars that run on alternative energy. Executive perks should be limited as well. The auto companies should also be required to pay the money back with interest.


Kal Ganesan   December 3rd, 2008 9:38 pm ET

No. Auto makers should not be bailed out. I run a small business which is vital to the economy like every other business and my job is every bit important as auto worker jobs. If I fail in my business who is going to bail me out. I don't want my tax dollars to bail out this failed industry much less any other industry including financial industry. I pay my mortgages monthly but now I hear that Govt. is going to give out 4.5% loans for new home buyers. This is in additions to bailing out millions who made poor choices buying expensive homes that they can't afford to begin with. This got to stop.


Rob   December 3rd, 2008 9:38 pm ET

The Big 3 need to focus on what has gotten them in to this mess – the vast majority of consumers do not find their products relevant anymore. Everything from gas mileage to styling to product mix speaks to consumers from 10 years ago. The only way to force this change is to let them fold. Bailing them out with a $25 billion band-aid is not going to solve this problem long term.


Jordan   December 3rd, 2008 9:38 pm ET

Last time I checked, in the free market it goes 3 strikes and your out, not 3 strikes bailout.


linda west   December 3rd, 2008 9:38 pm ET

Micheal is right! I'm from buffalo, when we lost the steel company the whole water front died, and is still dead warehouses. The big 3 want to cut jobs as part of their solution? That's CRAZY. Yes you can have the money, IF you make only cars that run on water, air or electicity – GO!


PJ   December 3rd, 2008 9:38 pm ET

Definitely no buyout. Make them go bankrupt & be reorganized. They need to rid the companies of overpaid corporate management. Workers also need to keep their jobs – even if concessions must be made. By the way...this Ohioan loves Michael Moore and all he does for our country.


michael crocker   December 3rd, 2008 9:38 pm ET

How can Congress give 700 billion to the fat-cats on Wall Street, but not give a fraction of that to the Big Three to save hundreds of thousands of jobs, pensions and health care?


Jags Narwani   December 3rd, 2008 9:38 pm ET

How can you keep throwing money into an inefficient industry? The $34 b. will be exhausted soon & then what? The auto industry has to manufature what is required & not just keep manufacturing more of these rubbish vehicles when the demand is at its nadir. You have to lay off people, become efficient & then only will this industry survive & again grow


Michael   December 3rd, 2008 9:38 pm ET

We should let the Detroit automakers go. The "other" automakers like Toyota, Acura, etc all have plants in the US and those companies will absorb the marketshare and most of those workers if they are willing to relocate.

Why must we bailout people who make a crummy product year-after-year?


Raj   December 3rd, 2008 9:38 pm ET

Hi Larry
great interview with Brad Pitt.He is doing wonderful work.

No, automakers should NOT be bailed out.
Let them go out.
Us Govt.should take over.
we need better cars.These losers don't know how to do that.
Thanks.
Raj


jerry in Vermont   December 3rd, 2008 9:38 pm ET

One has to hold your nose and vote for the bailout – but, it is extremely
frustrating because the auto makers created this problem and the
unions only added to the overall demise of the industry – and finally,
there is no guarantee this will work – more billions in three months!
It stinks –


Jorge Hernandez   December 3rd, 2008 9:38 pm ET

Absolutely not !!!!!!!!!!!!

I've been in the country for over 20 years and never bought an American car.

I will stick to Toyota, Nissan or Honda until they are able to provide quality for what they offer.


dcooke   December 3rd, 2008 9:38 pm ET

i'm not sure. but what happened to being able to claim interest from the car loans and credit card interest? who amended the tax code on that? i think that's when people started NOT buying cars. and michael is right about the wealthy sucking their money in.... thanks


Neeraj Bajaj, Bloomington Indiana   December 3rd, 2008 9:38 pm ET

Why are there diffrent standards for Big three car makers and Citi Bank. Citi bank was bailed out overnight- No questions asked. These big three employed more jobs than Citi bank

For every one job lost in auto industry there will be seven other which will be lost? How do you justify loosing over 5 million jobs ?


Margret Elson   December 3rd, 2008 9:38 pm ET

Please ask Michael if he thinks the compensation package for health insurance for workers is a factor in the auto industry financial problem...If, say, national health coverage were available as a right, not a privilege, would they not need a bail out? Not to detract from better more efficient vehicles, but is the benefit package really bankrupting the manufacturers ?


EqualBranchesofGovernment   December 3rd, 2008 9:38 pm ET

It's not the union workers fault for GM and Ford not adapting to making hybrid vehicles that Toyota and Honda made.......I hate to see anyone lose their jobs, but let's see management stripped to the bare bones before we give any federal dollars..........Hence let's see Mr. Romney's Bain Capital buy them out if he is a true "capitalist"


kwarren   December 3rd, 2008 9:38 pm ET

As a retired autoworker, I have never felt so un-American. I feel as if the blue collar workers have no chance in this white collar world. I have worked hard for 30 years as an auto worker and count on my 3,000 retirement. I feel as if America wants to take the retirees (legacy costs) out in the backyard and shoot us.


John   December 3rd, 2008 9:38 pm ET

John from Brooklyn writes... It's time to clean house in Detroit, declare bankruptcy, renegotiate all the labor contracts, and consolidate the big three into the big one.


Austin Farmer   December 3rd, 2008 9:38 pm ET

I'm 14, and I'm a high school student... I personally do not support a tax-payer funded government bailout... The reason for my thinking is based what I have seen on previous news coverage, such coverage saying that the CEO's of the big three coming out of their private jets, while holding out a tin cup, begging for money. Personally, I believe if they can afford their private jets, but they can't afford their own home, I believe they need to get their priorities set straight... My father has been unemployed for 3 years and we are doing perfectly fine, here in society. i realize that I may have gone a bit off topic , but I do believe that this expresses my opinion.


Janie   December 3rd, 2008 9:38 pm ET

WHy not have the oil companies bail them out.. They are the only ones benefiting from the gas hogs!!


Sheryl Putnam   December 3rd, 2008 9:38 pm ET

I agree w/ Mr. Moore – w/ new auto industry leadership –
a plan for mass transit, subway system, smart cars. That is the ONLY
way I want my tax payer dollars to go to them. I do not trust those
CEO's who have continued to get the huge salary & fly on the private
jets while they got to this point.
thank you –
Sheryl Putnam


Roscoe Petkovich   December 3rd, 2008 9:38 pm ET

Let government take over the auto-workers payroll (like unemployment insurance) for 1-year. During that time, the big three can first:
Use existing Natural gas Conversion Lits and convert a good percentage of existing car models to natural gas
At the same time, work on hybrids and SCRAP this idea of Gas only vehicles.
A Proud Canadian,
Georgetown, Ontario, Canada


Becky Berman   December 3rd, 2008 9:38 pm ET

No bailout. The companies which have been mismanaging their resources need to go under. Yes, innocent workers will be affected but we need to find the strength to be resourceful and reinvent the wheel literally! We can recover and be stronger for it. All of us need to learn that continuing to do things the way they have always been done is not good. We must change our ways or we will not survive as a country.


Tom   December 3rd, 2008 9:38 pm ET

You bet I do ---we gifted the people who helped to start this mess a trillion. NO STRINGS ON THAT!!!
Why not the workers at least its a loan. Chrysler paid back the loans the congress made decades ago.


Paige from Baltimore   December 3rd, 2008 9:38 pm ET

Can the congress require the big 3 automakers to restructure without the union employees like the Japanese auto makers? How do you think the public would respond?


martin polish   December 3rd, 2008 9:38 pm ET

Michael–We live in MI, also. Haven't you noticed the domino effect working on thousands of other people and busiesses? We all will gain from this loan–and hopefully the 'big boys' will learn about other lives. We have 3 family members who have lost their jobs because of the fallout. It's a sad time.


Jeanette Pizarro   December 3rd, 2008 9:38 pm ET

No, I do not support any more bailouts. The Government is bailing out one company after the other with the tax payers money. What about the main stream? Foreclosures, job loss, etc. who is bailing us out? Will the executives who are still being paid bid dividends with our tax money pay our bills and feed us?


Matthew Owen   December 3rd, 2008 9:38 pm ET

I don't support a bailout of the auto companies. There is a reason why Toyota and Honda are the hottest cars in the auto industry, It's called innovation developing vehicles that are built with quality and integrity. The best GM could develop was a new gas guzzling Camaro? They are missing the point and living in a dream world. I don't want a dime of my money going to a company that continues to develop products we don't need. The CEO's need to step aside and let innovative businessmen take over.


Tom Fisher   December 3rd, 2008 9:38 pm ET

I do not support the bailout of the auto industry if it means just handing over billions of dollars to the same leadership that has failed miserably in keeping American cars competitive with better foreign car makers. Hire the the foreign car makers to run the American car maufacturers and they will turn it around, pay back the bailout, create more jobs, control the unions and make a car the American people want!


Erich barrlebaugh   December 3rd, 2008 9:38 pm ET

Not at all! These car makers havebeen cutting corners for years. They have done an amazing job of producing cars that fall below production standards on a global market. The only thing that will save them is a partering with foreign car makers. This is a global market. The days of us car companies are over.


Denise   December 3rd, 2008 9:38 pm ET

Larry & Michael:

We need to take the proposed bailout money for the Big Three and instead put it into a research center that will develop new technologies to replace traditional powerplants in vehicles. We have to accelerate the pace of R&D for this sector of the economy. Our national security depends on it.


Susan Kirsch   December 3rd, 2008 9:38 pm ET

The automakers remind me of my teenage kids. . . "I need more. I need more. I need more." As a parent, I say, "No, you'll have to earn it." We should say the same to Detroit – as we should have said to the banks. I'm outraged that taxpayers are being asked to fund the welfare state of the rich.


Jim Taylor   December 3rd, 2008 9:38 pm ET

How dare President Bush state in January that we have a good economy and then in December we finally are told we are in a recession. Three weeks before Christmas. Happy Holidays.....


Brandon Kansas City, MO   December 3rd, 2008 9:38 pm ET

Unfortunately, yes. But do we really have a choice. It's a taxpayer bailout but the taxpayer doesn't really have a choice.

I agree that the current state of the big 3 will burn through the money. Make big management changes and they at least have a shot.

Brandon
Kansas City, MO


jenoye roland cole   December 3rd, 2008 9:39 pm ET

Here's part of what I told my congressman, Chet Edwards:
). LET THE BIG THREE HAVE BILLIONS TO SAVE THEMSELVES IN EXCHANGE FOR THEIR BUILDING ONLY ELECTRIC AND HYDROGEN-FUEL CELL CARS. (HONDA’ created a working (hydrogen) fuel celled car IN 1992 AND they’ve spent the $ and invented more than one way to create and “distribute” hydrogen (including manufacturing it in our homes using natural gas and solar): LET THE BIG THREE HAVE BAIL-OUT MONEY BY TURNING THEIR CRISIS INTO THEIR AND OUR OPPORTUNITY TO GO FOR THE NEW BIG TIME!: Demand pick-ups drop their weight by 1,000 pounds minimum, strictly limit them to 15-20 % of total production, and not allow them to be sold unless they meet CAFE mpg standards. AND create only hydrogen fuel or electric cars AND home hydrogen-creating machines AND regional large scale hydrogen sources for big cities. (Think GM’s WW II transformation from building cars to tanks in reverse!) Do it all, all at once. Give them more billions if needed, but with strings and/or supervision and/or quality standards required, etc. Thereby keeping and creating jobs, keeping carbon emissions minimal, and creating millions of vehicles to use and to export (including a little inexpensive AND SAFE “VOLKSAUTOS” line for the poor or the wise —and use Honda technologies and quality assurance methods, techniques, etc. (Pay the patents, insist on using HONDA’S top advisors-consultants, do a merger, whatever it takes! Jump from planned obsolescence and “less than” to THE FUTURE, THE ECONOMIC, THE PIONEERING, THE GREEN, A TRUE TRANSPORTATION REVOLUTION


Cecilia Cilli   December 3rd, 2008 9:39 pm ET

Yes, I do support workers in the auto industry. The government should support them with conditions and not make this an excuse for "Union Busting" They should be forced to change the way they do business – more fuel efficent cars and other modes of transportation.


Maura   December 3rd, 2008 9:39 pm ET

No, I do not agree to this bail out on the tax payers dime. If our government decides to bail them or anyone else out, it should go to the employee's who are losing there jobs and to the communities that are left empty and cleaning up the old junk buildings that these auto makers leave behind!

Dayton, Ohio


Kay Marcel   December 3rd, 2008 9:39 pm ET

Only if the current CEO's resign without retirement package (they've made enough money while running this industry into the ground) and under new leadership the entire industry is converted to making hybrids and vehicles for public transportation.


Todd Mozingo   December 3rd, 2008 9:39 pm ET

I provide services to auto dealers to help generate traffic and move cars. I just recently started this company however I have been involved in this industry in the dealership level for 15 years. I think it is important that the Big 3 have the needed support RIGHT NOW!
I agree with the masses that there needs to be many diciplines in place to ensure appropriate usage of funds but we need to take steps NOW! Think for just a moment to yourself how many people that you personally know who are DIRECTLY affected by the condition of the Automotive Manufacturers. I think you will be surprized.

Great Job Larry,

Todd


wERNER WEBER   December 3rd, 2008 9:39 pm ET

NO BAILOUT-INSTEAD GIVE THE MONEY SAVED TO THE TAXPAYERS AS A TAXCREDIT IF THE BUY AMERICAN BUILD CARS,
HYPRID OR HIGH MILAGE VEHICLES.
THIS WOULD HELP THE EMPLOYEES OF THE BIG 3,HELPS THE BANKS,HELPS OR ECONOMY,WERNER WEBER


Carlos Amador   December 3rd, 2008 9:39 pm ET

I agree with Michael Moore in the sense that giving money to these automakers only extends their suffering. The United States should impulse the creation of clean-fuels technology in its cars. Maybe this money should somehow be linked with that promise.


Working man   December 3rd, 2008 9:39 pm ET

yes

help the auto worker

please help us larry and michael


Anna   December 3rd, 2008 9:39 pm ET

Only if they intend to manufacture fuel efficient, environmentally friendly, dependable vehicles.


Hollywood   December 3rd, 2008 9:39 pm ET

I have worked at one of the Big Three as a designer. While there are a vast amount of talented people who create the so called "Automobile", the people who lead, manage, dictate and run these car companies is so out of touch with reality, we should let all of the leaders of the Big Three burn, burn, burn so we can get some real leaders back in the drivers seat.


Jay Janardhan   December 3rd, 2008 9:39 pm ET

Larry,
I do not believe that the big 3 deserve a bailout. The 3 companies have be on a downward spiral for the past 2 decades making unreliable, shoddy guzzlers and were oblivious to the competition.

Even today, I do not see any future product in the pipeline that can save General Motors. Chevy Volt looks good on paper, but it expected to be priced around 40K, well beyond the average car buyer. Today they are closer to the competition no doubt, but still not in a position to beat them.
And UAW does not help as well. laid off employees getting 80% of the pay. Not seeking another job because they would lose their severance.
The bailout money would be better spent by employing the people to build the infrasturcture and education of michigan.


Jeannie (Alabama)   December 3rd, 2008 9:39 pm ET

Bail out the automakers. You have got to be kidding. I worked in the apparel industry for 20 years and where were the bailouts when all those companies went under and put 25,000 people nationwide out of work. We did just like everyone else did, we got out and beat the pavement and took jobs that we would not normally do because of the low pay but we did them to keep the families a float. I think if we bailout the automakers then I think all American should never pay another tax to the IRS. Give us the pay we pay in taxes every year and we can live and will not need a bailout.


Jamie Newell   December 3rd, 2008 9:39 pm ET

I do not support this bailout. Michael makes excellent points on why and I agree completely. That money could be put to much better use. This country and the tax payers cannot afford to make any more poor financial decisions.


Cathy Boyd   December 3rd, 2008 9:39 pm ET

Michael Moore is correct. Put our taxpayer dollars toward something useful. Have them build mass transit. I have always owned foreign cars. If Detroit built a car that was up to the standards and quality of a Toyota, VW or Volvo, I might buy one. I just haven't found it yet. Thanks for reading my email, Cathy


Thomas- Bakersfield California   December 3rd, 2008 9:39 pm ET

Regarding the bailout. What authorization does our government have to give them this money? Let the free market work it's course.. They should file for bankruptcy. The more government gets involved the worse off we will be.


John from Florida   December 3rd, 2008 9:39 pm ET

Yes if the automakers are required to re-tool to make alternative fuel vehicles. We need to get away from fossil fuel. If the government would wake up and legalize the growth of industrial hemp we would have all the fuel we need!!


luke christon   December 3rd, 2008 9:39 pm ET

Larry,

Look at what Conrail did after a federal takeover...They turned it into a profatable venture.

Luke

Fremont Nh


Keith R   December 3rd, 2008 9:39 pm ET

I have been a Chrysler employee for 10 years and have been laid off for the last 3 months. I have personally seen the waste of money without regard for cost; however, I believe I have several ways in which to save money, at least for Chrysler, without eliminating the “supplemental pay fund” or the job bank.

One way to save money is to cut managements perks. Management, from Area Managers up, receives two cars including gas reimbursement, to use as they see fit. Management also takes frivolous trips to conferences, including Las Vegas and Palm Springs.

Another way to save money is to stop throwing out perfectly good parts. I have personally been part of an inventory team and ordered by management to throw out parts simply because they were out on the plant floor and not in our parts “crib”. At our plant, Indiana, we have a number of machines that are no longer used which are taking up valuable space and holding costs. There are also “overlapping” management and union jobs, two people hired for a one person job.

As for the union, they waste money by offering double retirement to International representatives. Union officials waste money by endorsing political candidates when the company as a whole is suffering. The company also pays union officials 12 hours pay per day whether they are present at work or not.

My family is dependent upon me as the breadwinner. I have a rent payment, car payments, student loans, and two children in school, just like everyone else. Unlike everyone else, I have been fortunate enough to be paid while I am laid off in the hopes that I will return to work quickly. During the time I am laid off, I am not just sitting around watching TV like some would have you believe. I have been afforded the opportunity to volunteer my time to my sons’ schools and my church and the YMCA. I feel that my family will be in dire straights if this money is abruptly halted. I am unsure what will happen to my family, as my wife does not make enough to support us.


bobbie lindsay   December 3rd, 2008 9:39 pm ET

We can not as a nation keep bailing out big expensive corporations and or country's who make rich people richer. We need to put the tax dollars back into the pockets of the american people...I for one, am living on the edge of of poverty. I have a masters degree in nursing and can no longer afford to live the american dream. Give me a tax break, one that will make a difference in the struggle I face day to day. Forgive my student loans...


Rob   December 3rd, 2008 9:39 pm ET

The Big 3 need to focus on what has gotten them in to this mess – the vast majority of consumers do not find their products relevant anymore. Everything from gas mileage to styling to product mix speaks to consumers from 10 years ago. The only way to force this change is to let them fold. Bailing them out with a $25 billion band-aid is not going to solve this problem long term.

Rob
New York, NY


Cynthia Papermaster   December 3rd, 2008 9:39 pm ET

Not one cent for current automaker management. Let's save the industry with major changes– energy efficient cars that don't use oil, lite rail, electric buses– and level the pay structure!!! Workers earn about 1/40th what the executives make. That's unacceptable. I agree 100% with Michael Moore.


steven   December 3rd, 2008 9:39 pm ET

Hi Larry,
I guarantee if we voted on this bailout-none of the bail outs would have been allowed. Michael is right-we cannot give the big wigs of these companies anything. Keep the workers, fire the brass-in the real world when the president/ceo of a "regular company" doesn't perform they are canned. Our system has been perverted. Bailing out companies that are not successful is not capitalism. When the banks were going out of business there were many companies fighting over who could buy them. Why not let the companies go, someone will buy them and make them successful.


Johnothan Smileye   December 3rd, 2008 9:39 pm ET

I do support the Us Auto Bailout. I have seen these companies change there business practices 2007, and yes these companies were struggling but they were making better car, and fuel efficient cars. After these guys failed on wall street, and the projected cars sell are 6 million units lower then last year. This auto bailout is not caused by these companies bad business plans, but the economic situation now, caused themselves.


larry jackson   December 3rd, 2008 9:39 pm ET

Here is the letter I sent to the White House....

Dear President Bush,

I am writing to encourage you to resist any pressure from Congress, the media and President-elect Obama to bail out of the American auto industry. As a life long Democrat, union member and, yes, liberal, I strongly believe that my party is on the wrong side of this issue.

The American auto industry has spent the last thirty years fighting against CAFE standards, safety standards, technology innovation and the list goes on. If there was ever an industry that needs to go up in flames it would be the American auto industry.

Our government should help the US autoworker by giving grants to new upstart companies that create smaller cars using electric, hybrid and/or alternative energy sources.

Thank you,

Larry
Seattle, WA


Lu   December 3rd, 2008 9:39 pm ET

Michael Moore takes the words out of my mouth and
brings it to life !
Thank you God!!


kathy   December 3rd, 2008 9:39 pm ET

i think the oil companies should bail out the auto industry. detriot made the cars big and gas guzzling and the oil companies profitted so now they can give back....especially since they (oil companies)have made record profits


Larry   December 3rd, 2008 9:39 pm ET

Larry,
Why not give the 34 Billion to innovators and inventors around the Country who have more brains and skill to get the job done. I worked for Johnson Controls for 12 years and I know first hand what insane union demands can do to a company and it's employees. GM might want to go back to Toyota and ask them how they have been able to do it.

Larry B.


Vish   December 3rd, 2008 9:39 pm ET

Absolutely Not!

This will only postpone their demise.


John Wallens   December 3rd, 2008 9:39 pm ET

Bailing out the big three auto makers only makes sense if they are going to pay attention to the needs and trends of today, not 20 years ago. The reason why we have this mess is bacause they have never paid real attention to trends, but to their own ideas and ideals. Why else would Toyota and Subaru be doing so well here?


barry weinreich   December 3rd, 2008 9:39 pm ET

they want the same people that the banks won`t give a loan to , to take their tax monies and bail them out ?


Jack Hardy   December 3rd, 2008 9:39 pm ET

This is my recommendation: Government buys companies. Tax payers, based on their tax returns, receive warrants or options to purchase shares in the companyies five to 10 years from now when they are profitable.


Louise   December 3rd, 2008 9:39 pm ET

Tell the big guys to give all the money they have stolen towards the bail out, and prove it's not in off shore money.


Don   December 3rd, 2008 9:39 pm ET

I believe they should not be bailed out. They are victims of their own
poor planning. The CEO's and their arrogance is apalling.


stew   December 3rd, 2008 9:39 pm ET

The automakers are trying to blackmail the country into giving them money for antiquated technology cars. Give us the money or we'll lay off workers!! This is blackmail. Work for $1? and give up your stock options and multi-million dollar expense accounts? Let's bust the unions and give these 30,000 workers a job making things we need – infrastructure, energy and transportation devices. 30,000 workers making $40 an hour is 1.2 billion dollars. A drop in the bucket compared to what they are asking for to continue making vehicles that don't compete or function as they should!!


Jason in Brooklyn   December 3rd, 2008 9:39 pm ET

I think Mr. Moore nailed it: Instead of letting the big 3 continue to blow taxpayer money, make their factories work for us. Obama has already advocated New Deal job programs geared towards future, environmentally sound industries, and here's a chance to use the automotive industry's infrastructure in exchange for supporting them. Great opportunities are always born from bad times.


Scotty Wolff   December 3rd, 2008 9:39 pm ET

I do support the bail out for the 3 companies. However when it is given, ALL the money should go into the companies and their employees. None of it would go to the CEOs. They make enough. They should also sell the jets and use that profit to go back into the companies as well. Greed is all it is.


Anil   December 3rd, 2008 9:39 pm ET

Why not persuade Exxon and other oil behemoths to acquire car companies. They have lots of cash and they need auto companies to sustain their empires.


Nancy Shackleton   December 3rd, 2008 9:39 pm ET

No I absolutely do not want a bailout of the auto industry on the backs of american auto workers. I want all CEO's to work for a dollar a year until a satisfactory solution is found


Lucy   December 3rd, 2008 9:39 pm ET

How can we restructure our suburbs so that mass transit will work? After having lived in Europe & existed with mass transit, I am now in south Texas and can go nowhere without my car.


FRANK   December 3rd, 2008 9:39 pm ET

I DON'T KNOW................PERHAPS YOU SHOULD HAVE LUNCH WITH LEE IACOCCA AND ASK HIM THIS QUESTION...........YOU MIGHT GET MORE THAN A CHICKEN SALAD SANDWICH.


David Egli   December 3rd, 2008 9:39 pm ET

Mr. King

All that is needed is eliminate the federal and state sales taxes on automobiles and people will flock to the show rooms. Best thing is no money changes hands.

David Egli


Linda   December 3rd, 2008 9:39 pm ET

no....put some brains together and find another way. I am a business owner and couldn't get help if I needed it!! Lets use common sence! Some of these workers make 70 dollars an hour! Please!


M.R.   December 3rd, 2008 9:39 pm ET

NO! They didn't have a plan 2 weeks ago, why do we think they can come up with one now? These clowns need to be kicked off of their high, stuid horse they have been riding and new leaders need to fill in the void.

This makes no sense! Failure IS an option! and is the only one that will lead to success. Let the US succeed by letting outmoded business models die the death they have earned!


Heggelund   December 3rd, 2008 9:39 pm ET

Support should be conditional upon gurantee of current jobs being maintained, interest on car loans should be tax deductible for 3 years, and many other stipulations like a guaranteed payback of the money to the government in the form of direct profit sharing into the treasury department, but not government ownership of a public company. We have the ability to change the fundamentals of business, but only change in executive management and accountability will change the way companies are run.


Lynton Dittmar   December 3rd, 2008 9:39 pm ET

Why does everybody not see who started the jobs leaving the country? It was Bill Clinton that gave most favored nation status to China, with that ha took away the purchasing power of the middle class!


MonicaD   December 3rd, 2008 9:39 pm ET

Obama ought to consider engaging Michael Moore as an advisor. He is america and knows the needs of americans!


Ron   December 3rd, 2008 9:39 pm ET

Does America want to drive the cars that the Gov't wants them to?


jeff kendall   December 3rd, 2008 9:39 pm ET

let bob nardelli bail them out he stole 240 million dollars from home depot when he was run out from them.


Derekn   December 3rd, 2008 9:39 pm ET

My question is Why would taxpayers, U.S or not, bailout the largest polluters in the world? it makes no sense. The world needs change!


Kevin in Michigan   December 3rd, 2008 9:39 pm ET

Michael Moore has wanted GM to go broke for years. How much does he make on a movie? What kind of vehicle does he drive? Lots of hot air from him with no real substance.


Danny Z   December 3rd, 2008 9:39 pm ET

No way, absolutely not. The Big 3 had decades to improve upon fuel economy and just kept feeding us gas guzzling vehicles. It's time for a change towards mass transit such as light rail and high speed rail across the country.


Brian   December 3rd, 2008 9:39 pm ET

It seems that you would want bailout money to fund innovation, but why should the American taxpayers have to pay for something that is a natural part of business?


annamaria ray   December 3rd, 2008 9:39 pm ET

Yes I support the taxpayers bailout, it is imperative to mantain the automakers active. Naturally the people in charge have to start anew with fresh ideas and better cars in terms of fuel efficiency. America would be a substandard country if we let this kind industrie fail and disappear. Let us save money from the useless wars that we enjoy making around the world let us concentratye our effort within.


Parry   December 3rd, 2008 9:39 pm ET

I agree 100% with Mr. Moore as to the way auto makers bail out must be handled. The executives of these companies can not be trusted with our taxpayers money to do the same things they have been doing for years and I would not believe them for a minute as about what they say they will do with the money they want to borrow. They will add to our problems rather than resolving them.


Sophia Nakis from Tampa   December 3rd, 2008 9:39 pm ET

No way Larry. Lack of planning = Lack of Dollars. I can't believe Americans are considering this option. For these "innovators" not to think ahead is a huge disappointment to the workers in Detroit and those who supported their products.


Paul Waas   December 3rd, 2008 9:39 pm ET

I don't want to reward bad management and poor product choice. Allow the market to determine the fate of a failing company. Fund innovative car companies and those making green friendly automobiles.
Stop blaming auto workers and unions, as they were the driving force of what was once the greatest middle class in the world.


wade   December 3rd, 2008 9:39 pm ET

no bailout is needed. look on the roads, people don't want to drive those "Big 3" cars anymore because they break down more often than asian counterparts. Change to quality.


David Starck   December 3rd, 2008 9:39 pm ET

Why not consider giving $10 billion to consumers to allow the first 1 million to get a $10,000 voucher to purchase a fuel efficient vehicle?


Arnaldo Mourino   December 3rd, 2008 9:39 pm ET

Larry…
I AGREE WITH MICHAEL MOORE
The responsible thing to do is to preserve the infrastructure of the American workers in the Auto Industry.
I believe that the American Taxpayers money should be accountable to boost the Auto Industry by providing an investment to the Auto Industry with a ESOP structure by giving faith to the Auto Workers.
Let us provide a Taxpayer’s bailout in the form of an Employee Stock Option Program; the true backbone – the Auto Workers. The American Taxpayer’s will embrace this support to the Auo industry and will have more confident that this investment will payoff far better supplying the funding directly to management!


terry   December 3rd, 2008 9:39 pm ET

Larry I agree with Michael we should not give money to companies that are going to cut jobs. If they are going to cut jobs that means they already restructuring.


Terence Hassan   December 3rd, 2008 9:40 pm ET

I agree with Michael. The Big 3 are out of touch with where our transportation needs are as a country. I do not see them making a "turn in the road" and taking us in a new and need direction.


Denise   December 3rd, 2008 9:40 pm ET

I think that we have to bail them out, but we HAVE to have stiff rules for the use of OUR dollars to get them out of this trouble. Too many jobs will be lost, How about they fire a few management people first.


Jackie Pope   December 3rd, 2008 9:40 pm ET

I don't support the bailout. How can we pay these CEOs tens of millions of dollars a year and the workers $40 an hour to watch a robot and expect a man making $7 an hour to buy their cars.


Tom VD   December 3rd, 2008 9:40 pm ET

Michael,
Couldn't we mass produce electric cars and sell them for 10 to 15K each and other stipulation should be that 100% of the components and assembly is done in this country. Everyone would want one, the plants would all open, people would be back to work. Why wouldn't this work?


Derek   December 3rd, 2008 9:40 pm ET

Larry,

Let the government stipulation be that a new management team is put in place for a 90 day period to reorganize and structure the automobile company's. This include restructuring of the Labor Agreements and bring them to the levels of Honda and Toyota. Right now the avg GM union employee makes more income than a college PHD professor. It's not only the management of these companies that are broken.

Thanks,

Derek


Craig Sutton   December 3rd, 2008 9:40 pm ET

No NO NO!!!

DON'T give them the money.

They don't have any plans to change what they are doing now. The high price of oil just a few months ago should have made these automakers change their thinking and shift to building cars that get very high miles per gallon, or electric or more hybrids – they are just going to waste this money and still layoff many people. If we give them the money how are they going to save the industry???


Denis   December 3rd, 2008 9:40 pm ET

Don't bail out the big 3 if nothing is changed. To give money to the big 3 and they cut all those jobs, ridiculous. Honda and Toyota are not asking for money. People are not buying the cars from the big 3.
I'm listining to your show from Canada and we are in the same situation of bailout of the big 3. I drive a Honda because it is what I want for a product.


Nick Ferrell - Highland Illinois   December 3rd, 2008 9:40 pm ET

When a large corporation puts a small company out of business, it's called compeditive capitalism. When a large corporation puts themselves out of business, it's called a crisis...


Edward Griffor   December 3rd, 2008 9:40 pm ET

Yes, I do support our government taking steps, including bridge loans and grants, that aim to preserve our nations ability to concieve, engineer and build the products we need to preserve our way of life. The alternative is not only to be dependent on other countries, but to have only one choice – their way of life.

The key condition should be the preservation of jobs in America! the preservation of our capability to define our world and, finally, for our leaders to define a vision. Automakers are like all industries. They are a capability – what comes out is either thought out carefully by our leadership or completely random. We've had enough of random!


matt   December 3rd, 2008 9:40 pm ET

I don't support any bail out of the big 3. The best solution would be to have the big 3 go bankrupt so that people who could actually compete with foreign car makers could take them over. The import car companies are just praying that the government bails out the big 3 so that they continue to have no competition.


Dodie from Irvine   December 3rd, 2008 9:40 pm ET

Larry and Mike!!!

I think we need a new paradigram in this country. I do NOTsupport the bailout of automakers. I suggest we employ all those who lose their jobs to be retrained and repair our country which is very badly needed. All suppliers, we can pay for retooling for bridges, roads, dams, etc


Gayl   December 3rd, 2008 9:40 pm ET

I agree with Michael Moore. I do not want my tax dollars given to any of these three CEOs. They have done nothing but squander the money they have already been given at the expense of their employees. I haven't bought an American car since 1989 and have no intention of doing so. President Obama needs to establish strict guidelines before approving this bailout.


Marianne   December 3rd, 2008 9:40 pm ET

This proposed bailout is nothing but a postponement of the inevitable death of the American auto industry. We will be putting them on temporary lifesupport until the economy recovers and their demise will no longer be a trip down Depression Row. Instead of bailing out the automakers, use the money to fund the Pension Benefit Guaranty agency and extended unemployment benefits for displaced autoworkers, since we will be on the hook for that in the end anyway.


Brian   December 3rd, 2008 9:40 pm ET

I work for a Japanese automotive supplier that has a plan for up to 2015. We supply parts to the Detroit automakers, but most of our business is with Toyota, Honda, and Nissan. Those companies have cut back production but still require parts from us because of great planning. Why can't the "Big 3" do the same?


Kim from Indiana   December 3rd, 2008 9:40 pm ET

Michael Moore has it RIGHT !!!! The rich seen it coming. The CEO's need to take more responsibility. NO BAILOUT. The average tax payers are already suffering.


nick p   December 3rd, 2008 9:40 pm ET

absolutley no bailout money for GM unless they make a change to their business model. their cost per car is roughly 2 thousand dollars more per vehicle than a comparale japanese model. The root cause is the money they are paying in pension and benefits to retirees. until they re-negotiate with the UAW, they will continue to bleed cash......


Linda Bolton Green Brook NJ   December 3rd, 2008 9:40 pm ET

I've been in and out of temporary/contract work since losing my permanent full time position five years ago. No one has bailed me out! We've bailed out Wall Street, now it's the auto industry. What's next? Pharma companies? Major retailers? Everyday people want a hand up, not a hand out. Shame on big business. Is there no end to the begathon?


Charles   December 3rd, 2008 9:40 pm ET

The big three put themselves in this mess, they need to get themselves out of it. Time to restructure from the top down. Save our tax money start new auto companies, it will be cheaper long term than saving these behemoths that do not understand their own market. To right side it at this point is more difficult than to emerge anew.


darryl smith   December 3rd, 2008 9:40 pm ET

yes,but like micheal moore said give it to a social woker. when a poor welfare get a check ever month she given a socail worker to make them pay the rent, feed the kids and paid the bills.


Julie, Garden City, MI   December 3rd, 2008 9:40 pm ET

Why should Ford CEO Mullally leave when he just came a year ago into this mess and is trying to straighten Ford out. It hasn't even had time for the changes to have any effect yet. There have been buyouts, plant closures, white collar lay offs, temps working for $15.00/hr. Give it some time and help through this economic time.


IRVING sCHWARTZ   December 3rd, 2008 9:40 pm ET

Not if they keep the same bums in charge of running these companies


Kathy   December 3rd, 2008 9:40 pm ET

My husband owns a small business that has been successful for 35 years. We have paid for private health insurance out of our own pockets for ourselves as well as one employee. The small business owners of the U.S. employ more than the three auto makers but if any small business owner gets into financial trouble in his business there is no way the government will bail him out. I am against the government bailing out the car companies with my taxes.


Eric   December 3rd, 2008 9:40 pm ET

Well Larry,
Why isn't anyone talking about the new Ford Fiesta? the ECOnetic that will be sold in Europe but not here because of regulations? The car is environmental freindly and great mpg... The big 3 can't compete because we are reluctant to diesel engines.
Eric, Chicago


EF   December 3rd, 2008 9:40 pm ET

Hi Larry

I agree with Mr. Moore. One of the criteria for the big three to get any money from the government should be that the current heads of these companies be removed...

Mr. Moore made a great point that the productive capacity of the auto industry should be refocused to produce products that not just America needs but that the world will want to buy. That's what made America great and I think fundamentally will not only save the manufacturing industry but your country's economy


Leo, NYC   December 3rd, 2008 9:40 pm ET

I opposed the bailout unless one of the conditions is to close all the factories that we shipped our good paying jobs to and bring those jobs back to the USA. Prehaps we should nationalize the auto industry, the same way the railroads were and then sell it back with a profit.


linda west   December 3rd, 2008 9:40 pm ET

Two questions – who killed the electric car? And who has the swiss bank account to show for it?


Lisa, Warren County, N.J.   December 3rd, 2008 9:40 pm ET

Bailout of auto industry – no, no, and no!
We make much much less than UAW represented workers,
and what's even worse the CEOs and higher management take disgusting salaries. I can't think of one reason to trust them, I feel that they will not pay us back when the time comes, and they know it.


Lisa   December 3rd, 2008 9:40 pm ET

No, I do not support a tax refunded bailout for these big 3 automakers. They are the ones who got us into this mess to begin with. Now they want to propose billions of dollars to get us out? I don't think so. I hope Nancy Pelosi does not pass this bill. If anything, the auto industry owes us taxpayers. I refuse to have another dime taken out of my pocket. I payed for my education, and I worked hard to get where I'm at, so why should the taxpayers suffer? What if the bill is not passed. What happens then?


Carol Grano   December 3rd, 2008 9:40 pm ET

Don't give the big three a red cent. They need to get rid of their management and be accountable for all the misspending. If the government would give all this bailout money back to the American citizens they could turn the economy around quickly. Let them go bankrupt! I always bought American, I never will again!!


Christopher   December 3rd, 2008 9:40 pm ET

As a former auto employee who left over a year ago, I simply cannot support this bailout that will continue to reward inferior management practices. The mere fact that Wagoner and his cronies had to be called out on using corporate jets before they turned them is proof that they are not interested in making their own sacrifices. A dollar annual salary doesn't mean much when you've spent the last several years making $12 Million.


Kathy N. from Omaha   December 3rd, 2008 9:40 pm ET

How can we keep bailing out the big corporations when everyone around us is struggling to figure out how to feed their families and make it through the winter with the heat still on? The Big 3 hasn't been responsive to the needs of our society and the global economy. They lived by the credo: Keep putting out the gas guzzlers and line our own pockets. The workers need to be bailed out, not the execs.


Tony   December 3rd, 2008 9:40 pm ET

Wait a second! I support a LOAN to the automakers, which is what they're asking for, not a BAILOUT.

Tony Davis, Alto, NM


Robin   December 3rd, 2008 9:40 pm ET

The short answer – yes, with conditions & oversight. The US has lost enough jobs to offshore. Can you spell M-O-N-O-P-O-L-Y? That's what the Japanese auto makers will enjoy.


dave tesillo   December 3rd, 2008 9:40 pm ET

this a very important time in a American history lets hope the gov. does the wright thing...........


g'eglesias nepa   December 3rd, 2008 9:40 pm ET

If we can bailout the Fat Cats on Wall Street, We can bailout the auto makers too.


alice   December 3rd, 2008 9:40 pm ET

We are being had once again. any time an executive makes 20 million a year and can have his hands out we are more than dumb if we go for it. I agree with michael except I would like to see the government take over these companies and we own them. I am tired of the haves always getting the big breaks.


Melinda W.   December 3rd, 2008 9:40 pm ET

no i dont agree with the bail out. i think they should give the money to american citizens, who would then in return would pay their mortgages off which would help the banks with the home loans, and would probably go out and buy car which would help the car dealerships out of this rut.


Megan T. from Detroit   December 3rd, 2008 9:40 pm ET

I support a taxpayer funded bailout of the Detroit 3. Without a bailout, there will be further devastation to the economy than without, which will be much more costly to the taxpayers when all is said and done. If any of these companies go into bankruptcy, the impact it will have on all suppliers will be significant, putting a further strain on the financing and liquidity within the auto industry and (industries) beyond. I do agree that the Big 3 need to provide a viability plan to the key decision makers, however, time is running out and things need to start happening quickly or we will move swiftly from an extended recession that we are currently in toward a depression.


May   December 3rd, 2008 9:40 pm ET

I absolutely agree with Michael Moore on this one – I'm not seeing how giving away all that money will better our economy. Major changes have to be made, including cutting salaries at the upper management levels, so we're not having some people making millions while thousands are getting fired. A new plan needs to be drafted, which would take into account the energy and environmental crisis, because the auto industry is dying anyways. $34 billion is a HUGE amount of money, and we can't afford to spend indiscriminately.


Larry in Houston   December 3rd, 2008 9:40 pm ET

Yes, for Ford and GM on a strict conditional basis.Chrysler should not be bailed out AGAIN.


Tom Plano TX   December 3rd, 2008 9:40 pm ET

As painful as it is we must keep at least two of the three companies viable. This might mean forcing GM and Chrysler together and some jobs may be lost but we must not let our manufacturing base erode itself. Michael Moore is correct in saying that many of the top management should be moved aside. These guys are largely out of touch and hidebound to old ways. There are surely younger and innovative people in these companies that would do better if given a chance. So, keep them from going down completely but the government should use a heavy hand in making sure this money does not get wasted.


Tiffany Lewis   December 3rd, 2008 9:40 pm ET

If we the taxpayers are giving our federal government $700 billion to lend to the banks, why can't the big 3 automakers get their loans from the banks?!


Julie, Garden City, MI   December 3rd, 2008 9:40 pm ET

HOW DID THE BANKERS TRAVEL TO WASHINGTON?


Peggy Westbrook   December 3rd, 2008 9:40 pm ET

I would bailout the workers and fire all the managers. I just hate it when I agree with Mr. Moore. I WAS a republican for 50 years until I listened to him a year ago on your show, Larry!


Dana   December 3rd, 2008 9:40 pm ET

Soon the tax payers are going to be bailing out everyone and every company. what will be left? We will have nothing more to give! Nobody has come up with a plan to bail out the average american who is still working 2 jobs, trying to raise a family. Why are we not rewarded for being financially frugal? Why do we have bankruptcy laws? That being said, if it is is going to be done, I think the bail out needs to be done smartly. Was nobody else outraged whent he big wigs came to Congress in $1000 suits on their private jets?? Bet thier kids did not have to worry where their dinner was coming from that night! There needs to be oversight and insurance that the workers will be taken care of. Pay people to research better ways to make the cars. get rid of the current management who got us in this mess...
Dana D.
Nashua, NH


Brad from Michigan   December 3rd, 2008 9:40 pm ET

Kick the big three while there down michel Moore. You've made millions off of the middle class for years. It's people like you that are the real problem. Also, wall-street and bankers–you got us in this mess and all of you think your so smart and you are not.
To the cnbc anchors you are so misinformed your station should be blown into outer space. The middle class is what made this country not wall street clowns that will drive this country into oblivion.


Randi   December 3rd, 2008 9:40 pm ET

The Big 3 Automakers do not deserve any kind of bailout – they've done everything they could to ignore their customers and fight innovation for years! Let foreign auto companies take them over – they're actually paying attention to consumer needs and preferences. If you're going to hand out money, use it to retrain the autoworkers in green technology instead. The executives in those firms should all be cut off without a penny.


Rick in PA   December 3rd, 2008 9:40 pm ET

Larry,
Today I thought of all of the cars that GM, Ford, and Chrysler manufacture. For the life of me, I cannot think of more than five GM models, 2 Chrysler models and 4 Ford models that are worth a damn. The current "Detroit mindset" just doesn't get it. They refuse to design for right-hand drive (which limits export potential), they ignore environmental concerns, and quality, while improved, pales in comparison to most other automobiles on the market.

GM had the best electric vehicle some 10-15 years ago and totally scrapped the project. Their answer to maintaining a competetive stance has been to reduce American jobs. Clueless and arrogant.

Save the workers? Absolutely!!! Support "more of the same?" Absolutely not.


Bill Brody   December 3rd, 2008 9:40 pm ET

The government (you and I) should do no more than loan the auto makers enough money to stay in operation as they come out of bankruptcy. And those loans should be secured with the common stock of the reorganized companies.


Derekn   December 3rd, 2008 9:40 pm ET

My question is Why would taxpayers, U.S or not, bailout the largest polluters in the world? it makes no sense. The world needs change! this is our chance isnt it?


Krish   December 3rd, 2008 9:41 pm ET

I do not belive in bailouts, but if you can bailout wallstreet, why not the main street – manufacturing jobs. Just look over the pond, the EU nations are bailing out and helping auto makers. I totally understand the auto companies are responsible to a certain extent to this mess, but also we need to understand the credit market too. The congress needs to give them stirct guidelines to the auto makers and hold them accountable for every dime unlike the TARP program !


Pat   December 3rd, 2008 9:41 pm ET

We do have to lend the big 3 the money. To many jobs are at stake.

I do believe that the present CEO's have to go. Investors need to take a hit too. When you invest you take the chance anyway.

Americans need to get their heads out of the clouds and realize it's not a me, me, me generation any more. We have to get real.


Ron S.   December 3rd, 2008 9:41 pm ET

Michael Moore has it right. Get rid of the leadership – all of them. Bring in new leadership who will do it right – Michael Moore as a consultant (seriously). There has to be a price for malfeasance or it will continue.


Sylvia   December 3rd, 2008 9:41 pm ET

NO!
They made poor decisions, wasted their and our country's resources, and should not be rewarded with a gift of our hard-earned tax dollars.
Their businesses should be foreclosed and the government should set up a bidding process for the purchase of the companies.


Chris   December 3rd, 2008 9:41 pm ET

Whoever can make an economical vehicle that looks good will win this war. American made vehichles do not appeal to the younger generation. The focus needs to change. I am for a bailout as long as there is accountability.


carol   December 3rd, 2008 9:41 pm ET

I DO NOT SUPPORT THE BAIL OUT OF THE CAR CO. BECAUSE THEY HAVE NOT BUILT CARS OF BETTER QUALITY THAN THE JAPANESE AND GERMANS. U.S. CARS BREAK DOWN EASILY AND THEY DON'T LAST LONG. HOW CAN FOREIGN CARS SALES SURVIVE HERE IN THE U.S INSPITE OF THE CHOICES WE HAVE WITH AMERICAN CARS, IT'S BECAUSE FOREIGN CARS ARE BETTER QUALITY.


Thomas Paolini   December 3rd, 2008 9:41 pm ET

I do not agree with a bailout of the big 3. I especially do not feel for the UAW workers. The UAW has been a major cause to the car manufacturers not being competitive.
Tom from Audubon NJ


Dave Haskin   December 3rd, 2008 9:41 pm ET

government must help auto industry, but, if the government really wanted to stimulate the economy they should give every tax payer 2000000.00 the banks would get there money most tax payers would pay off mortgages, buy new cars would actually put money back and stimulate banks,auto industry and be able to feed their families.


Denise in Mississippi   December 3rd, 2008 9:41 pm ET

Larry & Michael:

We need to take the proposed bailout money for the Big Three and instead put it into a research center that will develop new technologies to replace traditional power trains in vehicles. We have to accelerate the pace of R&D for this sector of the economy. Our national security depends on it.


Scott from Canada   December 3rd, 2008 9:41 pm ET

Rather than fund failed companies and reward CEO's that don't get the bigger picture why not offer those billions as grants to start up companies that can take on the "Big 3".

New American companies would form with innovative plans that could buy up mothballed "Big 3" factories and start turning out cars the world would be envious of.


MA Grandinett   December 3rd, 2008 9:41 pm ET

I couldn't agree more with Mr Moore. We need to save the industry and preserve jobs but there needs to be a restructure. CEOs should not make millions when their companies are going down the tubes. Maybe it was OK they made millions when their companies were vibrant and in the red but NOT NOW. A bonus should be a reward for a job well-done and a share of the wealth-there should be no bonuses when the company is failing!


Ryan   December 3rd, 2008 9:41 pm ET

No! The industry would be absorbed by overseas carmakers, and if we need to use more taxpayer dollars for any reason I wouldn't mind it going towards helping the workers of the big three so they could find more work.


middle class american   December 3rd, 2008 9:41 pm ET

why hasn't anyone including the auto makers executives, jounarlists, or any one else, blamed the sudden outragious sky rocketing of oil prices in the last two years, as a factor in slow down in car sales. It appears that there is some fear or hush hush in talking about the most horrific rape of american public in the U.S. history by these oil companies and other associated culprits. Drill baby drill...


Elaine Fort Wayne IN   December 3rd, 2008 9:41 pm ET

Michael Moore is right. We have to keep the automobile industry but we should throw out the failing CEOs. Take the companies over and make them viable. Since they have failed the last 30 years to fix it. We had better fuel standards in the late 70's than we do now!!!


Jeremiah Fowler   December 3rd, 2008 9:41 pm ET

I oppose the bail out for the Auto industry, but working Americans need to accept that we have little say in the matter. After Citi gets a 400 million tax payer wasted baseball stadium we swallow the fact that the bar is set pretty low. Michel makes a great point that capitalism has not really worked when these companies have done anything and everything in the name of profit. Capitalism is a pyramid scheme and it is time that the working poor pay their share. There needs to be a oversight board to hold these profiteers accountable to smart decisions so we don't end up with another mess...


Renan   December 3rd, 2008 9:41 pm ET

I do support a bail out for the automakers but for sure that industry needs to get a change in practices, R&D, Management practices, Market focus....many other things. If GM, FORD and Chrysler thinks that only a cash influx will do it, they are wrong and with that kind of thinking, in a few years down the road we are going to have them again in Congress, asking for more help. The world has changed, the consumer needs ahs changed....they have to change.

One word of advise, if they are being asked to provide sound plans...great. What about the Wall Street companies? A blank check? Government needs to ensure proper supervision across the table for everybody.


Jennifer Joyce   December 3rd, 2008 9:41 pm ET

We should protect this companies just because of these hard working people.. Like we should with our ship builders and steel workers ...


Christine   December 3rd, 2008 9:41 pm ET

Re: auto bailout

While I understand the fear of the trickle down from the auto industry 's financial issues, there is also the issue of smart business ventures to change with the times. Many small businesses have had to change the size of their store, change their products, change their store hours, downsize, move to online shopping, etc. in order to stay "afloat" in today's economy. What changes have the auto industries made to improve their product? Why have their engineers and highly paid company officers not seen a new trend?

This issue is not going to be solved with a bailout. It's just a money pit for a poorly run organization.


Perkins   December 3rd, 2008 9:41 pm ET

When did the USA become a Facist State?
Let the Big 3 file bankruptcy!

The Exec's will have to go find another job, maybe a real one!

Michael is correct! There is a Looting of the US Treasuary currently going on by people have run there industries into the ground!

Perkins,
Houston


gene kincaid   December 3rd, 2008 9:41 pm ET

I think the automotive companies need the help but the first thing that is needed is every employee should undergo drug testing and if they fail the drug test the UAW should not be able to protect them. they should be fired just like any other job.


Joann Menzer   December 3rd, 2008 9:41 pm ET

I do not support a bailout of the auto industry any more than I support any more tax payers dollars going to mass transit. It is time for the executives, workers and labor unions within these industries and corporations to find a way to operate at a profit. If that means firing the executive and throwing out the unions – so be it.

We taxpayers just bailed out wall street – yet where has that money, help and assistance gone? You have banks denying loans to small businesses, credit company's unilaterally raising interest rates to sky high rates, unilaterally cutting credit limits and then imposing penalties for going over just changed limits – this is happening to the middle class, citizens who pay their bills on time and pay taxes – those same taxes that are benefitting wall street and now we are expected to do the same for Detroit? I don't think so.


South Jersey   December 3rd, 2008 9:41 pm ET

I absolutely do not support the automakers bailout. They've spent the past thirty years adding additional lines and models of new autos each and every year. They could sensibly have from ten to fifteen models each and still make money – as opposed to the fifty-three models (GM) they currently can't sell. This practice is the ultimate in mismanagement. I emphathize with the autoworkers – however, it's not their fault that this chaotic situation has evolved.


Leslie Dewar   December 3rd, 2008 9:41 pm ET

The Big Three automakers do not deserve our hard earned tax money.
The CEOs are overpaid, the workers are overcompensated, and their
products are consistently inferior. CEOs and auto workers alike deserve to be put out of business – US ingenuity will fill the void.


Mary Kaye   December 3rd, 2008 9:41 pm ET

I absolutely agree with Michael Moore. No bailout under the CEO's leadership. We need mass transit, alternative energy and better energy cars. Fire the heads of all three auto companies and bring in new people. Mitt Romney and Michael Moore are right and exactly where we need to go. Let all three head honchos give back their salaries and bonuses and they will not need a bailout.


Andrew Van Sicklen   December 3rd, 2008 9:41 pm ET

my question is this what happened to the American dream? by bailing out these companies the country is being short sighted. what about the fledgling auto companies that would be given the opportunity to capture market left open by the oligopoly of the big three. wouldn't the increased number of producers both drive down prices and provide jobs?


Curt in Hawaii   December 3rd, 2008 9:41 pm ET

For years, the Big 3 automakers have fought tooth-and-nail against higher energy efficiency standards. For years they pushed wasteful SUVs simply because they offered a higher profit margin per unit. For years their products have lagged behind Europe and Japan. And now their technocrat CEOs want the taxpayers to bail them out? NO WAY! NO WITHOUT SOME SERIOUS DETROIT REFORM. Let's start with senior management.


l.c. gramda   December 3rd, 2008 9:41 pm ET

i agree with michael moore. fire the big 3 and buy gm and get some smart honest people to run the cos.


Peter Gaffney   December 3rd, 2008 9:41 pm ET

If General Motors or Chrysler went out of business because of business reasons, fine. But their situation is terminal because of the credit freeze. Two trillion dollars to banks without any question by Congress but no emergency LOAN for our native auto industry?


Kandy from Michigan   December 3rd, 2008 9:41 pm ET

No Bailout! I work for the auto industry and I will lose my job when they fail. I think the Big Three should fight it out with each other. One of them will survive and rise from the ashes. They could call it "United American Automotive.


Jacob McKim   December 3rd, 2008 9:41 pm ET

Why aren't we supporting companies like Tesla motors that have a proven track record of innovation? Why aren't these the types of jobs we are attempting to create?


Jon   December 3rd, 2008 9:41 pm ET

I think we should support the bailout. What would happen if we lose the backbone of American manufacturing? We will depend more on foreign technology instead of investing in America's future. There would be a huge ripple effect accross the country and we will then be facing a serious crisis resulting in massive job loss. Ford has had a plan in place for years now to return to profitability before the major credit crunch. Ford also made a profit in Q1 before the major economic crunch. Did we forget who made military equipment for WWII? We can't let these companies fail.

Jon
Allen Park, MI


Sherman Daniels   December 3rd, 2008 9:41 pm ET

These same kinds of bailouts also come from wealthy investors, if they can believe in the investee. Can we (the taxpayers) believe in the investee. The investors are also capable and willing to oversee their investments. Is the govt. capable and willing. I doubt it.

S. Daniels


David Mannella   December 3rd, 2008 9:41 pm ET

Instead of a bailout. Stop the fedeal withdraw tax from wages, Ths will give more money for people to spend and my by a new car.


Jane Paxton   December 3rd, 2008 9:41 pm ET

No - let the oil company's bail the automakers out - they have the money and everything to gain by doing this.


Laura   December 3rd, 2008 9:41 pm ET

On the bailout of the Big 3 Auto Makers. If they're so "big" why do they need a bailout? Absolutely not! They should be made to go through bankruptcy like millions of Americans have to do all the time!

Mike, I disagree with the focus on Hybrid and electric cars! I was told by a mechanic that the batteries to sustain both are so expensive that a minor fender-bender, per the insurance companies, renders the vehicle TOTALLED! They are not effective! All this does is funnel money from one corporate pocket into another and the consumer is STILL LEFT HOLDING THE SOGGY, SMELLY BAG! In addition, this mechanic says they are not fuel efficient for the bulk of the driving done in this country.


siena   December 3rd, 2008 9:41 pm ET

No taxpayers $$$$ until they prove they can make a change that will be profitable. Offer more fuel efficient cars and trucks and use more green energy alternatives.
They can start by selling their private jets, their homes and take a cut in their CEO pay.
I agree with Michael Moore, get rid of current management.


Jim Eshleman   December 3rd, 2008 9:41 pm ET

The American public has already voted on the financial stability of The Big 3 – with their dollars, by not buying their cars! Now we're supposed to save them when we had a direct role in their demise? The vote is over and The Big 3 lost . We need an entirely new bread of car company to arise from the ashes of the old, just like it happens in ever other business in America. When are we really going to put our faith in a free-market economy?


Amy   December 3rd, 2008 9:41 pm ET

We don't owe the auto industry anything but our prayers. They got themselves into this mess, why am I responsible to bail them out? Where is the ACCOUNTABILITY? We need ethical leaders who know how important it is to do the right thing. These auto industry leaders just don't get it. Why is it that our county has become so greedy? More is just never enough for these misguided leaders?


Vicki   December 3rd, 2008 9:41 pm ET

In no way do I support the auto bail out! Where is it going to stop? Even if they got the money it has already been proven that the people who are paying for it (middle class) won't see a dime! Maybe the auto makers should have better managed their money to begin with and built affordable and efficient cars. The unions need to go away and the pay for CEO's need to be greatly reduced!

No I say let them sink!


Cheryl Bailey   December 3rd, 2008 9:41 pm ET

We can not continue to run the bank the way it has been – WAKE-UP people! We can't allow any money to be given to these auto mogals – they aren't going to spend this money any different they have been – throw them all out – hell throw them in jail! The #1 criteria for any loan or grant would be to scrub directors and corporate heads and replace them, and have a close review and check process to assure that they follow a strict "GREEN" plan.


Rochelle, San Luis Obispo   December 3rd, 2008 9:41 pm ET

Not when the Big Three's idea of an affordable, energy efficient car is the $40,000 (!!!) Volt...


Katherine Cram   December 3rd, 2008 9:41 pm ET

MIchael Moore is right. Why should we reward failed leadership? One of the responsibilities of corporate leadership is to, yes, make a profit; but also provide sustainable wages to workers.
I love MM's ideas of radical transformation of these companies under new and gifted leadership to provide for the "public good", public transportation.


Kent Dodge   December 3rd, 2008 9:41 pm ET

Back in the early 1980's an elderly couple in Helena, MT were real excited about buying their first new car. They bought a Ford Taurus. After driving it a couple weeks they started worrying that the gas gage was broken because it was not going down. They filled it up with gas and it took very little. This went on for a month or so and they couldn't believe that this car would not consume gas. One day they got a knock on the door and the Ford dealership who asked for the car back because it was a prototype that wasn't suppose to have been sold. They reluctantly gave up the keys and got the standard gas guzzler in return. If these companies could make gas efficient cars in 1980, why can't they do it now?


Adrienne Klopack   December 3rd, 2008 9:41 pm ET

No. I do not support this bailout. The cars they are making don't make sense. The lifetime health benefits costing $1,000 per vehicle for retirees and $400 per vehicle for current employees are not realistic for todays market. these costs will continue to rise as the boomers retire and employees are reduced. They need to stop this practice.


Sheron Binkley   December 3rd, 2008 9:41 pm ET

Stop bailing out the CEO's that make bad business decisions. The tax payers have been paying for too long! Have we forgotten the S&L bailout from the late 80's?!? Come on, a little history (or memory) would go a long way!


Susan   December 3rd, 2008 9:41 pm ET

GM will use the money to give the employees a huge severance package and full benefits until they are 65. Let them figure out how to give these guarantees out of their own pocket. Enough! Are you going to give Starbucks a bailout next?


A.P. History Student   December 3rd, 2008 9:41 pm ET

There is only one thing I can say as a watch CNN is to review history. One who reviews history can figure out the solution to a crisis base history is deemed to repeat itself no matter what. Why do you think we are required to review history in school?


JB   December 3rd, 2008 9:41 pm ET

NO, NO NO Let's not give them a bailout. Let's offer some sort of loan to maintain the jobs. Mike is right, they do not deserve any money with no strings attached.


Christine from Mason, Michigan   December 3rd, 2008 9:41 pm ET

Hi Larry and Michael,

Like all Michiganians I have been closely following this potential bailout. I'm wondering though, how will oversight be ensured when it isn't even happening for the 700 billion dollar banking bailout? (those charged with oversight haven't been 'confirmed' in their positions yet as a GAO audit just discovered).

Do you think we'll hear anything new or encouraging from the CEOs of the Big Three and UAW leaders at the congressional hearings tomorrow and friday? What should Michigan fall back on if the auto industry fails?

Thanks


Steve   December 3rd, 2008 9:41 pm ET

NO NO NO. I buy GM and will continue to buy american however this turns out. They will survive but maybe there will be only two companies at a reduced size. They must take their medicine now and let the market dictate their fate. Im so irritated with the scare tactics coming out of the mouths of the CEO's threrating depression. This from a executive that almost ran Home Deopt into the ground.


Ken Meredith   December 3rd, 2008 9:41 pm ET

I can't believe it but I agree with Michael Moore. I think we need to bail the automakers out because we can't let our manufacturing base/infrastructure go under. However, whatever deal we make with the automakers we need to make sure that the management changes, they don't layoff or fire anyone, and that they or the top executives work for a dollar a year for the next couple of years. It worked with Lee Ioccoca.

Ken, Havelock, North Carolina


Christine Pratt   December 3rd, 2008 9:41 pm ET

I support the bailout, because too many jobs could be lost if these companies fail or flounder. Bailout money should hinge on each company devising a workable business plan that requires them to limit bonuses, cut pork and make innovative, fuel-efficient, QUALITY cars. If they're successful, they'll pay the money back with interest. It could be a win-win.


Buford E. McBee   December 3rd, 2008 9:41 pm ET

NO! Anyone in their right mind knows that if a company has lost this amount of money they would be out of business already. Just because their business practices haven't met their expectations or Wall Street's predictions doesn't mean that they have in fact lost that money. (Just haven't made their investors what they have predicted)
If they can't continue to do business or run with the companies that can, get out. It's not the taxpayers responsibilities to provide the investors their dividends. This is what paying the executives hugh salaries has gotten those investors, now let them live with the consequences.
Buford McBee
Port St Lucie, FL


Randy Nix   December 3rd, 2008 9:41 pm ET

Hello Larry & Michael ........ Please get this message out via your show ........

Why should American Taxpayers continue to bailout our country's failing enterprises ??

The one's who will profit from the fuel guzzling autos produced in Detroit should be the one's to "LOAN" the auto industry's Big 3, the money to stay afloat.

And we all know who that is: THE OIL INDUSTRY !!!

Get this message out to Congress .......

Randy from Oregon


jenny   December 3rd, 2008 9:41 pm ET

YES - the loan must happen. Yes - the management should be changed because of all the money they've given to the UAW.


Wendell Hamilton   December 3rd, 2008 9:41 pm ET

NO BAIL OUT
BIG BUSINESS WALFARE
The middle class used to help provide for the poor. Mostly a volunteer bases with a lot of government support. Now comes the government mandate for the middle class to take care of the Rich. We have truly become a welfare country and need to thank the Chinese for the big bail out loans.

Then there are those who would argue that big business provides for the middle class. That is a bunch of pooy. BIG BUSINESS HAS BECOME TO BIG FOR ITS OWN PANTS. Congress seems to think big business is INTITLED. I would too if Big business dollars are needed for me to keep my job. Bail out the auto industry, Bail out the big financial institutions, bail out the airlines, and Give unions more power. Whose/What is next??? The Government certainly does not bail out the Middle class business (see side note)
The solution is simple although it be painful
(1) Buy American
(2) Provide small business seed money for competition
(3) Pass a national right to work law.
(4) Let fair competition prosper
(5) Prosecute the white collar crooks and freeloaders who file frivolous law suits
(6) Set back and enjoy watching the beautiful USA prosper.

SIDE NOTE: A few years ago, when foreign competition was replacing my business (a small middle class company) from 190 employees to ninety Congress stepped in with a bail out program. No not money, NAFTA, so I could replace all the hard working dedicated employees with good hard working employees in another country. It was great for the American consumers that did not loose their jobs. They got a less expensive product of equal quality and the other country was enjoying a building boom and economic growth.


Michelle Bright   December 3rd, 2008 9:41 pm ET

With all the outsourcing that the Big 3 did, you would think they would have saved a bucketful of money.
Why not give big severance packages and got give the big 3 anything.


Richard   December 3rd, 2008 9:41 pm ET

No. No. No. The auto companies should go through structured bankruptcy so they can restructure the agreements with the unions to bring benefits more in line with the rest of the industry and then redign their business so as to become profitable by building cars and other forms of transportation that the American people want and the country needs.


Scott   December 3rd, 2008 9:41 pm ET

No. The goal of the bailouts thus far has been to prevent the failure of banks from causing an catastrophe of unknown proportions. The failure of the big 3, which have been expected to fail for more than a decade poses no such risk.


lisa   December 3rd, 2008 9:41 pm ET

I agree with Michael Moore. Enough is enough. I can't trust that these companies will use this money wisely, they have moved plants to other countries, causing their workers to suffer, even in times of profit.


Sue, New York   December 3rd, 2008 9:41 pm ET

No, No and No ! Why should one industry be bailed out over another when the entire country is in dire straits? This makes no sense whatsoever. Do we honestly believe that the $1 salary will be the only compensation received by the CEOs? No doubt, the CFO of each company is already creatively accounting reimbursements that will include share options or similar. The survival of the fittest is the same in nature as in free enterprise, it is the only way to succeed!


Jeff   December 3rd, 2008 9:41 pm ET

I agree with Mike and so many others. If the Bail Out is granted we must demand that car manufacturers begin producing electric cars. Americans will not tolerate this madness much longer.


Jane Hassinger   December 3rd, 2008 9:41 pm ET

I do indeed urge the US government's support of our automotive industry's survival. I am a (nearly) life-long resident of Michigan and the daughter of a GM family–both on the organizational and retail sides of the business. For over fifty years, I've lived inside the economics constructed by this industry. It's not perfect, and I am sympathetic to the naysayers, but when I consider the fact that the Bush administration–one of the most immoral and self-interested in the history of our country–has seen fit to float the boat of Wall Street, AIG etc., I am horriified. Millions of every-day folks will lose their jobs in the mid-west, and particularly in MIchigan. I wonder about the prejudices that might underlie this possiblity–these are everyday people, of multiple races and ethnicities who will suffer. What does this mean to our nation? It means the heart and sout!


Debbie Golden   December 3rd, 2008 9:41 pm ET

I say NO bailout! Why would we give more millions to miserably failing companies without asking the CEO's to step down and replace them
with a new outlook, new technology and a futurist direction?


Louise Charette   December 3rd, 2008 9:41 pm ET

Yes, we support a "bailout" to prevent the ultimate demise of the big three. It needs to be guided and governed. If we fail to do this, I believe we will be helping to create "the big depression". I like Michael Moore's ideas of stipulations.My husband and I are newly retired and fully appreciate the importance of keeping people working. The auto workers are a big part of the American middle class.


Tom   December 3rd, 2008 9:41 pm ET

As a retired UAW member it always shocks me that people complain about the "legacy costs". I worked for 30 years at GM and my pension was always the carrot that was held out to me.

If this is taken away for me it would be the same as any employee that has had their companies match or even contribute to there 401 K's coming back 30 years later and taking that money back! GM NEVER matched or added to my 401 K because I had a pension.


dave   December 3rd, 2008 9:41 pm ET

Why is it ok for citicorp and not the big 3. Michael Moore should be ashamed the way he is attacking the the auto industry. The Wall street guys get trillions and they have to villify the car companies and american workersagain. The governments of Japan China and South Korea own and subdize their auto industry. If this keeps up no one will be able to afford Michaels film festival in Traverse City


Joe   December 3rd, 2008 9:41 pm ET

We need the auto industry here in the USA, the LOANS would be ok provided certain stipulations are attached.
1. No job losses in the USA
2. Min. 50% pay cut of all execs earning in excess of $250,000.00
3. Immediate change over to fuel efficient and alternative fuel vehicles.
4. Production of Buses and other mass transit equipment.
5. Begin immediate return of all US vehicle production that has been moved out of the USA over the past 15 years.


barbara   December 3rd, 2008 9:41 pm ET

We should not give the big three auto industries the money they ask for unless of course, the government instills very rigid terms and qualified managers to handle the businesses. The way things are now, bailing them out will only enable them to do it again and again. We have bailed them out previously. They are looking at the government as a safety net; and expect to get the money they need. Their leverage is the loss of 60,000 employees and the government not wanting that to happen will have to fork over the money.

Barbara
Federal Way, Washington


Dave Boston Ma   December 3rd, 2008 9:41 pm ET

No Way , Gve them nothing , they will blow it , If congress is looking to give even more money away, give this money to all the homeowners losing there houses, God knows they need it and no ones helping them ,,, why help those 3 companies ,congress has better things to waste time on.


Kevin Hemp   December 3rd, 2008 9:41 pm ET

Absolutely NOT! Not for any of them including A.I.G.
We've seen how that works. Further G.M. at one point asked it's union workers to take a cut so they could stay afloat. Union did and the big shots voted themselves a pay raise. ...fool me once ect.
There is a provision for this problem that the big three are in. It's called Chapter 11. This will alow restructiing and redo the union contracts. Next – Common guys they wont go under someone will buy them out. THEY WILL SURVIVE!. Lets not be B.S"d


Fabrice Frere   December 3rd, 2008 9:41 pm ET

THE OIL COMPANIES SHOULD BE THE ONES BAILING OUT THE BIG 3 CAR COMPANIES. AFTER ALL, THEY WERE THE ONES THAT FORCED GM TO KILL THE EV1 ELECTRIC CAR THAT GM HAD ON THE ROADS IN THE EARLY 90'S.
THE EV1 CAR WAS ON THE ROAD, WORKED-WELL, AND WAS EVENTUALLY DESTROYED AND ERASED FROM HISTORY.


sara   December 3rd, 2008 9:41 pm ET

Only if get rid of the management. No pay raises for the management or xmas bonus. That only if the money goes to creating jobs to make better cars that use another fuel source or less gas. The cars cost less to the tax payers. That they have to account for every dime of the tax payer money. ONLY IF MIKE MOORE MANAGE IT


Bart Srozynski   December 3rd, 2008 9:41 pm ET

If the Big Three want to rebuild their customer base, they might benefit from developing high-efficiency diesel engines for cars and light trucks. Their foreign competitors already offer 45 m.p.g. models with astounding power characteristics and minimal emissions.


Janette Garside   December 3rd, 2008 9:41 pm ET

I just lost my career of 23 years with the Automotive Industry, My question is since most of us are not just losing jobs but careers who will be re-skilling the American worker's once the dust blows over all of us? At the age of 53 how can expect to find a career...


John Cicero   December 3rd, 2008 9:41 pm ET

U.S. automakers manufacture way too may models. Look at Honda, they sell one mid-size, one compact, one sub-compact, etc. GM needs to built Chevy's as an entry level auto and Cadillac's as the upscale brand. Through in one pickup model, a mid-size SUV and a compact SUV. Invest in making these fewer autos "world class" and perhaps a come back is in order.


Jim   December 3rd, 2008 9:41 pm ET

Bring in Toyota and replace the entire management team at GM, let Chrysler file chapter 11, let Ford bring in Honda and replace the management team.


jim   December 3rd, 2008 9:41 pm ET

Bob Nardelli walked away from Home Depot with over $200 million in his golden parachute. If he feels so strong about Crysler, why doesnt he put up some of his cash to help save his company.


Karim   December 3rd, 2008 9:41 pm ET

Hi larry, my problem with giving money to car companies is that they are bunch of rich thieves trying to steal tax payers money. They are going to lay off workers and guess who gets the money, rich executives who ruined it at the first place.


Terry - Michigan   December 3rd, 2008 9:41 pm ET

Michael Moore is right – the money should not go under the current auto management – they failed, and the solution was always to cut the lesser paid in order to keep their high wage. I was in auto, laid off twice and am still without work. I would have liked to received the failure pay I saw given to CEO's in the last 10 years – but I wasn't. Don't bail them out – they had the ability to get ahead of the energy game back in the early eighties and did not do right – why think they can do it right this time.


Jacquee   December 3rd, 2008 9:41 pm ET

I live close to the gm lordstown Ohio plant and what I don't understand is why someone who works on a assembly line at a plant needs to make 6 figures and get 10 hour shifts 7 days a week? In my opinion these plant employees need to be let go and rehired and lower wages like Delphi nearby had to do overall I favor it


Ray   December 3rd, 2008 9:41 pm ET

Absolutely not!! I recently lost my job in the auto industry. The basic premise for seeking this bailout is wrong. Keeping us working is the main case that Big3 automakers are making but what they are actually doing is protecting their buddy's and booting the hardworking people out of jobs. This is years and years of bad business that needs to be fixed. I guarantee that even after the bailout there will be more hard working people losing jobs to $200 a month fresh graduate from India and these executives are getting rich.


Jean   December 3rd, 2008 9:41 pm ET

As usual, Michael Moore is RIGHT ON!


M.L. Squier   December 3rd, 2008 9:41 pm ET

Michael Moore is absolutely right, and I hope the Congress watched Larry King tonight; and better, I wish Michael Moore could tell the auto industry execs face to face what he said tonight.


Raul Diaz   December 3rd, 2008 9:41 pm ET

We can't afford to let another one of the U.S.'s manufacturing industries to go belly up. Too many jobs have been lost already and there's a potential for millions to be effected by this. However, unlike the $700 billion there needs to be a specific oversight committee on the spending abiding by a stringent plan. Just to be clear: as things stand right now I wouldn't support this bailout.


Bruce Vaughn   December 3rd, 2008 9:41 pm ET

What message does a bail out to the big 3 send to other car makers in the .U.S. that are not failing?


Greg Schaem   December 3rd, 2008 9:41 pm ET

I do not support the bailout of the US Auto big 3. We need electric cars, no bull about hydrogen fuel cell powered cars, maybe fuel efficient clean diesel...with lower priced clean diesel fuel, and better
hybrids from american manufacturers.


vito casoni   December 3rd, 2008 9:41 pm ET

Why isn't there a discussion about all employees sharing in the cost of the bailout?
Rather than laying people off, determine the needed cost reductions and apply it across the board to all employees.
Laying off people puts more on the public dole and less able to become consumers.
Keeping all people on the payroll, abeit at reduced wages, keeps them employed, able to be consumers, and motivated to work for success.
I would also consider stock incentives to the employees and the public as a way to earn back what has been lost and/or invested
by the public.


Greg Adair   December 3rd, 2008 9:41 pm ET

I support a bailout because the alternative would be more costly to the government when you consider unemployment benefits and lost income tax revenue. Not to mention the human impact of the laid off workers. However, the bailout must come with contingencies including MPG requirements, executive compensation caps, and an agreement to not file lawsuits to resist additional future govt regulation of their industry.


Karen B   December 3rd, 2008 9:41 pm ET

Not a chance. A huge part of the problem is the legacy costs. How can anyone ask the average taxpayer – who is lucky to have any health plan and MAYBE a 401K with a 3-5% match while their working and almost certainly nothing while retired – to pay for the gold plated health plans and perks that have nearly bankrupt these companies?


Brent Martin   December 3rd, 2008 9:41 pm ET

Why doesn't michael work for Pres. obama?


Sean Bagley   December 3rd, 2008 9:41 pm ET

NO! I absolutley oppose the continued support of capitalist corporations who lobby against more socialized approaches in government. They're opposed to socialism until they need it! They can no longer have it both ways! CEO's who loot companies when the money is rolling in, then ask for help as they continue to loot losing companies. Guess what??? We all survived after Studebaker went under and I'd like to see what would happen if any or all of the Big 3 followed suit. Like the great documentary asked, Who Killed The Electric Car??? GM and they don't deserve help– they deserve to sink or swim like anyone else in this country who can get up in the morning and go to work. It's too late, baby– it's just too late!


Steve from West Palm Beach   December 3rd, 2008 9:41 pm ET

Michael Moore is basically correct, as usual.

Only I don't agree that the government should not be more involved in or businesses. Our banking and business leaders have failed us completely.

We need to appoint governmnent industry "Czars" such as Ross Perot who as a free public service would fire most top management at the auto companies and rebuild the businesses correctly.


Mike   December 3rd, 2008 9:41 pm ET

I worked for GM in Wilmington , DE for 16 years and I can tell you from first hand experience that management was never concerned with a quality made automobile.You were told you could stop the line to fix a problem in station but as soon as you did stop the line management was in your station in seconds restarting it and trying to make a repair as the line moved..we had a saying at Wilmington...Quanity not quality..GET IT OUT THE DOOR


Joann Jozaitis   December 3rd, 2008 9:41 pm ET

How many ways can I say it; No No No No!


philip greenberg   December 3rd, 2008 9:41 pm ET

no bail out . I would like a deposit of $4000 in my bank for use to purchase a car.


Stephanie   December 3rd, 2008 9:41 pm ET

Yes, I think we have to keep the Automakers in business for the sake of their employees, suppliers, and retirees. I wish we could afford to let them fail.


jim conley   December 3rd, 2008 9:41 pm ET

Please ask the car companys to allow new companys to start up, also ask them to give up the patents they have bought that will allow a car to get a hundred miles a gallon of gas?


Matthew in Manhattan   December 3rd, 2008 9:41 pm ET

Not unless the government gets common stock and control of the board of directors. It stinks that they're asking for low interest loans, so they get a bail out at taxpayers' expense, but we don't get to share in the up side if things turn out wonderful – I don't think so. The US government is swimming in debt, when we put money into the banks we did it in such a way that we'll make out like bandits if things go well. The same should apply to the auto industry. Let the Commerce Secretary make appointments to the boards of these turkeys.


Linda from Washington State   December 3rd, 2008 9:41 pm ET

The government gives companies contracts to build airplanes or space rockets. The auto companies could get contracts similar to defense contracts or NASA contracts. The contracts should have deliverables, such as fuel-efficient cars and public transporations vehicles, as well as the vehicles the military needs. There should also be milestones and reviews, just as in any defense contract or NASA contract.


Ray Pospisil   December 3rd, 2008 9:41 pm ET

Do you remember in the movie Pretty Woman where Richard Gere, who has made a fortune buying companies and slashing their payrolls or shutting them down, has a change of heart and decides that he "wants to build something?" Our whole country needs to start having that change of heart!


Zoran from Detroit   December 3rd, 2008 9:41 pm ET

I believe that the "bail-out" should be given to the Big 3 as long as certain requirements are given. It should be made clear that the funds should not be given just so these companies can lay-off thousands of workers; that is the antithesis of what the bail-out is for. The point is to preserve the middle-class or what is the point of giving the Big 3 money? If 30-times that amount can be given to WallStreet, then how can a fraction of that be refused to people who actually create products.


robert   December 3rd, 2008 9:42 pm ET

Three auto companies(so called 3 leachers) do not deserve a dime from the tax payers. Let them declare the bankcrupcy, then only we should help them for an innovative transportation saystem for our needs.


MonicaD   December 3rd, 2008 9:42 pm ET

Good idea Janie! Have the oil companies bailout the big 3. Lord knows they need the big 3 as much if not more than the rest of us! Go hybrids.


Bobbie Jean   December 3rd, 2008 9:42 pm ET

Of Bellmawr, NJ
Couldn't we do some time a voucher program, like the stimlas checks, 1 per household. The voucher being worth x amout of dollars to go to a American car. If you want something worth more, the voucher would go as a desposit. The will give us some better running vechial. Would help people out of a car payment or maintance. (some cars should even be on the road) As the voucher are cashed in for the car, it goes the mauf.. This would move vechials off the lots, keep people working making more and make us feel like we our getting something for our tax dollars. These big companies can get help but how about us. Some us make to much to be on goverment asst. but to little to surive.


Lisa   December 3rd, 2008 9:42 pm ET

Yes, we must save the U.S. auto industry to save the middle class. Give them conditions,, of course, but save the jobs. Good God, I'm already unemployed thanks to this recession – save the few remaining middle class jobs!


joe in DC   December 3rd, 2008 9:42 pm ET

I agree with Michael Moore that no money should go to the current management of the auto makers. Has anyone looked at the possibility of replacing the top 2 or 3 levels of management, replacing them with new management from both internal people and new blood? How much would that save the companies? Would they really need the bail out then? I don't think so. Skim the HIGH COST of the high salaries and golden parachutes of the company and bring in new thinkers that didn't kill the electric car in 1990's.


Kevin   December 3rd, 2008 9:42 pm ET

The media failed to report the risks of going into Iraq and now they are doing the same by not reporting the risks of letting the Big 3 fail. Since you won't, I will. To start with the tax payer will need to kick in over $100 billion to fund the pensions. The job losses from the big 3, suppliers and local shops will be in the millions, resulting in more missed mortgage payments and fewer tax collections by Municipalities. The federal government will have to decide whether to let local governments bleed or bail them out with billions more. Then there is the trillion dollars in defaulted debt, which will wipe out investors, corporations and writers of credit default swaps. You better throw another trillion on the TARP. The only worse thing than bailing out the Big, is to not bail out the big 3. Funny, $35 billion seems like a small number all of a sudder, doesn't it Larry?


S. McDonald   December 3rd, 2008 9:42 pm ET

Don't bail out the Big Three.

Congress legislated bankruptcy laws to be disposed through the judiciary. For Pete's sake, the Big Three should be required to step up to the bar like everyone else. Don't allow Congress to shortcut its own system. To do otherwise will set up a system of special dispensation for all. If Congress doesn't believe the laws work, then change them for all.

In reorganization, cars will still be built, and the Tier 1 and 2 suppliers will fill what the market demands. Suppliers also go through regorganizations in bankruptcy......it's more the rule than the exception. Ask BBK and the rest of the Workout folks.

The banking industry is different. It is a regulated one, where regulators and legislators have failed and systemic risk is too big to ignore..........so it's the taxpayer's responsibility to right it. However, the current equity holders should be wiped out.


Sue   December 3rd, 2008 9:42 pm ET

No to the automaker bailout. If these companies cannot run themselves successfully, they should go the way of any other failed businesses. The Government/taxpayers should not try to interfer in free markets.


Bill Wilcox   December 3rd, 2008 9:42 pm ET

I look at this as an investment in jobs not a bailout....but as Mr.Moore says it has to be an investment with conditions..that being they don't gut Union contracts,and they don't send jobs to cheap labor markets,which means layoffs.

BW,

Canada


Sudie   December 3rd, 2008 9:42 pm ET

I'm sick of bailing out corporate America who have taken advantage of people for their own economic gain. /A.I.G. has ruined the bail out for any other company.
Bottom line, we have to pay our bills & work with a budget, companies should too!!


Booker Smith   December 3rd, 2008 9:42 pm ET

Every American vehicle I ever bought always broke down. And I believe they make them to break down so they can sell more. I am in favor of assisting the Automakers but not without conditions.
i., Energy effecient cars that are built well. Like the german cars.
ii., New management.
iii., I agree with Michael, build more mass transit, trains, buses, etc.


Peggy Stackwood   December 3rd, 2008 9:42 pm ET

India is producing a car that costs $2,500. Brazil now exports oil because they have flex fuel cars. They have a choice of four different fuels at the pump station. Michael is right. Why should those CEOs who have mismanaged or perhaps took their cue from oilmongers be allowed to continue to mess up the works. Keep the employees and FIRE THE CEOs!!!


STEPHEN   December 3rd, 2008 9:42 pm ET

Like Michael says in his blog (email that I subscribed to) the BIG 3 Build poor autos and always have. Even when the foreign carmakers debued in North America... neither GM, Chrysler or Ford changed for the people. They relied on loyalty based on being a citizen... not what the country needed... just as long as they made their money.

The assembly lines and work ethic on North american car makers do not compare with those of the culturally advanced off shore technology.

Many residents are learning a perfect vehicle exists... and it is FOREIGN MADE>


Hamilton Argueta   December 3rd, 2008 9:42 pm ET

I believe Mr. Moore is right when it comes to to the Bailout, it should be given but with restrictions and instead of cutting off those employees, cut the pay check of all those high ranking people in the company. No bonus at all (for doing nothing more than getting their pockets fat). Force than to build more fuel efficient vehicles as GM do in GM Brazil.

Hamilton Argueta
Atlanta, GA


Diane   December 3rd, 2008 9:42 pm ET

NO..we should not bail out the auto manufacturers. My father-in-law is a GM retiree. His daughter was on his health insurance until she was 25 – no job & not in school. In addition, she had a child, who was allowed to be added to my father-in-laws insurance – no questions asked. GM really needs to look at their current health care for existing & retirees and they can find places to cut; that would ultimately save this company alot of money...but do they – NO...this is mis-management...but they want a bailout...NO WAY! Take care of your business and start running it the way substantially sound companies do.


RENE   December 3rd, 2008 9:42 pm ET

MICHEAL JUST SAID WHAT I WANTED TO COMMENT.
BIG THREE HAVE ALWAYS FOUGHT ANYTHING THAT PEOPLE ASKED THEM TO DO. NOW THEY ASK US TO DO THIS SMALL THING FOR THEM. I TELL THEM .... YOU.


Pamela-Topeka   December 3rd, 2008 9:42 pm ET

Good evening Mr. King and Mr. Moore.

Why is all these big car companies only talking of reducing their work forces, etc. and the worker's themselves even willing to take reductions in their wages and benefits but I haven't heard Chrysler, Ford or any of them bringing to the table THEIR wages and bonus packages, their private jets etc. No bail out!!!


Bill, Jamison, PA   December 3rd, 2008 9:42 pm ET

No way. Taxpayers who in many cases have been laid off from the car companies will be paying car company exec's huge salaries/bonuses to build cars we don't want, built in plants outsourced to foreign countries. Insane!


Jay Pike   December 3rd, 2008 9:42 pm ET

No. I say let them go out of business. Ford and Chrysler can take over for them.


Mary   December 3rd, 2008 9:42 pm ET

Keep the American Auto workers WORKING, just skim off the old LARD off the top. Time to downsize the clueless CEO's. How about luring over the brightest top management team from the Japanese auto industry?


Jim Donnelly   December 3rd, 2008 9:42 pm ET

We didn't bail out Enron so why should we reward this type of failure now?
We have helped the automakers by buying until we couldn't afford to anymore and this is what they have to show for years of record profits?
Give them a 401K like bail out....we match a certain percentage and in 10 years of fiscal responsibility they will be rewarded.


Pat Bartholic   December 3rd, 2008 9:42 pm ET

Why not support the Big Three automakers? They employ thousands of workers,. We gave 700 billlion to Wall Street and did not ask them how they were going to spend it. Are they still going to make millions per year and then get year-end bonuses? What the auto makers are asking for is peanuts in comparison. I drive a GMAC Impala and get 32 miles per gallon on a trip. I don't think too many foreign cars get any better.


Jim & Darlene Spence   December 3rd, 2008 9:42 pm ET

One of the largest problems with all big business and the auto makers is the fact that the CEO's have raped the companies to this point with their need for greed!! It has always been about upper management and the big boys who have never cared about the person doing the work and making things happen. They took care of themselves at the expense of the middle class.

They all need to be replaced with individuals that have a conscience and concern for doing what is right.


miles j. zaremski   December 3rd, 2008 9:42 pm ET

Like a worthy bank considering a loan to an entrepreneur for a start-up company after analyzing in detail its business plan, the Congress should do likewise with the carmakers in Detroit. "Whining" and crying out that the "sky is falling, the sky is falling" like we have seen Wall Street-types do to get 750 billion cannot cut it any longer with taxpayer dollars going to the Big Three in Detroit.

Miles Zaremski
Highland Park, Illinois
12-3-08


Joan   December 3rd, 2008 9:42 pm ET

I don't agree with the bailout for the auto industry or any industry. I am from Bethlehem, PA and why is it different from what the Bethlehem Steel and our country's steel industry?


Michael P. Watkins   December 3rd, 2008 9:42 pm ET

Suppose the CEO of a corporation owns one million shares of stock in the company. The stock is worth seventy dollars a share but the CEO knows the stock is not worth that and will drop precipitously at any time. He decides to sell his shares of ownership in the company and does so grossing a cool seventy million dollars. The stock falls precipitously to seven dollars a share. The CEO buys a million shares of the stock at that price and nets sixty three million dollars. The board of directors of the corporation turns a blind eye as they too own stock in the company and have used the same strategy. Multiply this by a hundred times and this is what has happened in our current economy.
Unfortunately, now it appears that the corporation cannot survive in its current financial situation. The company needs a current infusion of cash to maintain solvency and asks for a bailout from the government. The CEO has already taken his booty while the pensioners and retirement account holders too numerous to count have had to eat their losses through buy and hold and dollar cost averaging strategies. He attempts a half hearted attempt to rescue his company from bankruptcy.
The argument he uses is that failure of the company will not only affect the union workers at his company but millions of other workers who are suppliers for the company. He has forgotten that for the past twenty-five years the corporation has outsourced these jobs to foreign countries such as Mexico, China, India and Malaysia where labor costs are much cheaper. In fact, the union brothers who assemble the product turned their backs as more and more of their brothers lost their livelihood to foreign workers. It has always been more cost effective to assemble the product on site rather than ship the completed product long distances.
The CEOs less than enthusiastic attempt for a bailout is tempered by the possibility that a patriotic appeal (hot dogs, baseball, apple pie and Chevrolet) might work to resurrect the fortunes of his company. The lackeys in Congress might be willing to do anything to preserve this relic of Americana. He knows full well that his company has been a multinational and its global approach actually will result in the closing of American plants, the firing of workers, and a transfer of equipment to plants now being built in foreign countries. The stock options available to him are now far out of reach but if he reverses the fortune of the company things might change and he has the chance to double his money.
The patriotic argument to preserve an American product falls upon deaf ears as everyone realizes that the corporation is a global one and should not be bailed out by the taxpayers of the United States. United States taxpayers should not be bailing out foreign workers. The CEO loses his investment of seven million dollars but still nets sixty three million dollars.


Eddy   December 3rd, 2008 9:42 pm ET

I do so support some kind of bail-out but that the one the one they are talking about now.


L Graham   December 3rd, 2008 9:42 pm ET

Absolutely not with a Capital NO from the tax payers. Michael Moore has a great idea!


Vaughn   December 3rd, 2008 9:42 pm ET

Yes, with accountablity. The Big 3 have been making cars that the average consumer buys, it's what we wanted. If the consumer did not but them the Big 3 would be forced to build something different.


Vicki from NJ   December 3rd, 2008 9:42 pm ET

Of course we have to loan the money to U.S. Carmakers. We are talking jobs, jobs and more jobs here. They aren’t asking for a bailout, they’re asking for a loan for God’s sake.

After all, we stupidly gave a bailout to Finanicial Institutions and an Insurance giant (AIG) with blank checks and no questions asked. And, we still don’t know what’s going on with that money we already gave out. I would rather invest my tax dollars into U.S. jobs & U.S. made cars than banks who rob and scam us anyway.

Further, our government is at fault for this mess we're in as well since they all get a piece of all the pies being made and I wish Bill Gates would take his company and go ahead and move. It's easy for him to say that he may have to move after he has made his billions off the backs and minds of us U.S. workers, (that he no longer wants to use, e.g., India is who he's using) but then even tells us to donate money to the needy. What planet is he on? "We" are the needy!
There are no manufacturing jobs left in this country except the auto industry. Everything is now imported mostly from China and Mexico. This country is a disgrace and our government running it should be ashamed and also needs an overhaul.


Julie, Garden City, MI   December 3rd, 2008 9:42 pm ET

The Republicans in the South don't have union shops and they are using this selfishly


Jorge Nunez   December 3rd, 2008 9:42 pm ET

Re inventig the wheel every seven years is something we Americans do well and timely.

Let them apply for chapter 11 as all the one before did.

Who is going to bail me out?


Mark Cochrane   December 3rd, 2008 9:42 pm ET

Years ago there was a Documentary on Why GM killed the Electric Car. Shouldnt we be also looking at the Oil companies as well? It appears the oil companies wanted their take aswell, What do you think about that


gary in dumas, texas   December 3rd, 2008 9:42 pm ET

Mr. Moore states that he doesn't want to give the money to the current management of the Big 3. Who better to turn these companies around than people that have already done it at previous companies...ie:
Alan Mullany turned around Boeing, Bob Nardelli at Home Depot, Jim Press at Toyota. Mr. Moore, who would you rather have running these companies, government bureacrats? Be careful what you ask for Mr. Moore.


Jeff Yeager   December 3rd, 2008 9:42 pm ET

Michael-I live in Michigan too. It's not a recession, its a depression! You're complaing about a $34 million bailout...what about the $150 billion bailout for AIG with no strings attached.


Kenneth Lippe   December 3rd, 2008 9:42 pm ET

The Big three should be allowed to die their reckless suicidal death. By bailing them out, the government is basically subsidizing and rewarding a completely misguided and mismanaged industry which obviously needed a complete overhaul at least 30 years ago. Any aid should go to the workers in the interim between when the Big 3 croak and their infrastructures are bought out by wise investors who can begin building cars which reflect the needs of the people and the health of the planet. The grossly overpaid execs at the Big 3 have abused their critically important roles for far too long, and now they should lie in the beds they built.


Mike Westmoreland   December 3rd, 2008 9:42 pm ET

I agree completely with Michale Moore that we should'nt bail out any corporation unless there are very strict restrictions and conditions. Also, I don't believe we should give any money to anyone until the new President and his staff have been installed and given ample time to review all the requests.


Andre   December 3rd, 2008 9:42 pm ET

The tax payer was put in a position where they have no choice but to pay for the bail out. The tax payer has two options. 1) Send the money directly to the companies and subsidize the incompetence of their CEOs with financial stimulus. Or option 2) Send the money to the employees who lose their jobs via unemployment benefits. Either way, the tax payer will pay the bill. I rather keep these people employed during these rough times and go back to the drawing board.


Boris   December 3rd, 2008 9:42 pm ET

$1/year for an automaker CEO is too much money to pay. They MUST GOOOOOOOO. Even if they pay to stay, they still must go!

Michael Moore is right on everything he's saying!


gilda Vogel   December 3rd, 2008 9:42 pm ET

We do need to bail out the automakers but only if they comply to new regulations that are going to be beneficial to everyone; i.e. better fuel efficiency, electric cars, etc. They need to get rid of the current management and not pay the out of the park salaries. Who deserves to earn 15 million a year when the companies are going bankrupt.


russ waters   December 3rd, 2008 9:42 pm ET

Micheal Moore speaks the truth!
My question is this: So why would Congress give this money to the Big 3 and let them do whatever they want with it? If I gave someone that much of my money (which it is) then I not only want to know about every dime spent, but how it will benefit me.


Carleen Wallace   December 3rd, 2008 9:42 pm ET

Yes, the three auto companies deserve a loan to help them through this crisis, with the qualification that the CEO's salaries must be a certain percentage higher than the workers' salaries, but no more exploiting the companies to make the CEO's billionaires.


Jim Forbes   December 3rd, 2008 9:42 pm ET

Instead of giving money to the big three executives, how about the government giving each American a $25,000 credit towards a new car – and let us choose.


teri   December 3rd, 2008 9:42 pm ET

these car manufacturers have always had the capacity to make a fuel efficient car. i find it hard to believe that they cannot do so. who is going to bail out all of those who work hard and cannot make ends meet on a day to day basis.


Bill from Colorado Springs   December 3rd, 2008 9:42 pm ET

Larry, here's the deal. This country used to be the manufacturing base of the world. So we out soursed it. Now we are focusing on the servce sectors. So what is going to happen is this. I'm going to pay $xxx.xx to (for sake of the real argument) the right to shake your hand. I'm then going to turn around and sell to 10 people the right to shake my hand, just because I shuck your's for $xx.xx. They will each turn around and do the same, but they will only be able to get $x.xx, who will only get $.xx. At the end of it all, some one is going to offer to sell you a hand shake for $.0x, just to be able to shake a hand that almost touched a hand that you shook...


Keith   December 3rd, 2008 9:42 pm ET

What does Michael Moore think is the difference between making cars no one wants and making subway and train cars no one wants? There are already successful subway and train car manufacturers. Retooling GM will take decades.


gary   December 3rd, 2008 9:42 pm ET

Larry,with the mounting inventories, tight money and credit,how can the car companies expect to remain solvent even with the bailout money in the short and long term? Please read Motor Trend mag this month...Ford is still planning on producing a 400 HP F-150 rapture!!!!!


William Tsiros   December 3rd, 2008 9:42 pm ET

The taxpayer's money should only support the auto industry for better auto technology that relies less on foreign oil and less emissions to our environment. Any bail-out should be conditional and overseen by the government to make sure they do it right.


Mark   December 3rd, 2008 9:42 pm ET

I fully support the LOAN to the auto industries. Michael Moore's point isn't valid, he is going for mass transit... the factories couldn't sustain the number of employees that they presently have because a mass transit system isn't going to be in everyone's driveway. Secondly, I don't feel that he's a reputable person to be on this show... and for you to provide him with this forum to spout his tainted view, is worrisome. I strongly support this LOAN, and feel that the long-term impact to our country is far worse than people realize.


Annie   December 3rd, 2008 9:42 pm ET

We low and middle income taxpayers who live by the rules have had it up to here rescuing individuals and corporations who fail to live their lives or conduct their businesses responsibly. Bring in some single mothers to advise these idiots on how to follow a budget, save a few bucks here and there, cut out waste and plan for unexpected emergencies.


steven   December 3rd, 2008 9:42 pm ET

We have to stop fearing the unknown. No one has talked about letting the companies go and trusting that someone will buy them and make them competitive in the world.


Edie   December 3rd, 2008 9:42 pm ET

Someone said earlier that perhaps the oil industry should be bailing the big three out. After all, it was because of the oil industry and their buying up of patents for more fuel efficient vehicles that the automobile industry never began making more fuel efficient cars. Only Ford has come up with the right words–saying they might not need the money and no mention of cutting workers. GM and Chrysler need to rethink their plans.


Rhona   December 3rd, 2008 9:42 pm ET

In Europe the cars get anywhere from 50-55mpg on highway driving...the technology is there and has been for years...so why is it not adopted here??? The big 3 have been holding back to the benefit of the oil companies?


Peter Githongo   December 3rd, 2008 9:42 pm ET

No one saved the American television industry and 30 years later, we have flat screen/HD tv’s to watch Larry King at affordable prices.

What will happen if we ’save’ the american automative industry?
Think about it…


Arlene Crowley   December 3rd, 2008 9:43 pm ET

Michael Moore has a good head on him, and he's right. Fire all the CEOs in the auto industry, revamp the industry from the ground up, and hire some fresh talent to design smaller cars that use alternative (green) energy, as well as public transportation (buses, subways, trains). [Also, rebuild our train networks out to towns and villages, and get the huge trucks off our roads to make it safer for smaller cars!] Make loans to the auto industry, lots of strings attached, and assign some heavy-duty oversight.


Paige from Baltimore   December 3rd, 2008 9:43 pm ET

I do not undestand why this is even going before Congress. The automakers are not a state... they should not be able to get federal assistance. I am sorry to see these companies go down, however, that is the natural cycle of business...only the strongest survive.


Diane   December 3rd, 2008 9:43 pm ET

Larry: Michael Moore's idea for producing high speed trains (like Europe has had for years, and buses and other green forms of transportation is the most practical, smart solution for the re-use of our factories and the continued employment of the workers and all the suppliers and businesses that depend on the auto industry. Has he spoken with Obama about this? How do we get this idea rolling — I believe people across our nation would rally behind this idea, just as they supported Obama and Change. This idea is real CHANGE and has the power to make real change.

Diane, California


Andy Winnie   December 3rd, 2008 9:43 pm ET

Tell Michael Moore to take of his EMU hat because he's disgracing my alma mater with his disparaging remarks about the auto industry. I've lived in this area all my life and we're all effected by the auto industry. This is a valuable manufacturing segment to our entire country and we need to work together to help the big 3. Why because it effects 2-3 million jobs. Sure their plans are to cut 20,000 jobs but thats better than 2-3 million..Isn't Michael? I thought Michael Moore grew up in Michigan, doesn't he care about his neighbors and his friends. And remember, its not a bail out...its a loan. And why aren't you talking about the 150 million giving to AIG...?


B Dauria   December 3rd, 2008 9:43 pm ET

Rumor has it that the auto workers make around $75.00 an hour working on the assembly lines. If this is true, shouldn't we be reorganizing the labor contracts as well as the products?


Margie   December 3rd, 2008 9:43 pm ET

I think the top executives should take their salaries from the last eight years and bail themselves out! Why should the taxpayers who are having trouble putting food on the table now, pay for their mistakes. This is outrageous.


Robert, USA   December 3rd, 2008 9:43 pm ET

Michael Moore was certainly right about one thing. They want money so they can cut more U.S. jobs? The bailout should be conditioned on retaining jobs in the U.S. If they want to layoff workers, let them lay them off in Mexico. No U.S. tax dollars to fire U.S. workers!


wayne anderson of statesboro ga   December 3rd, 2008 9:43 pm ET

Larry,

How can we even concider giving the big three any money until the knuckle-heads that ran them into the ground are removed and replaced with someone who will look past then next bonus cycle.


Matt   December 3rd, 2008 9:43 pm ET

Where is my bailout? I lived in a condo, signed a contract to build a house, assumed that I could sell my condo and then the market went to hell. In the meantime, I had a legal obligation to buy this house that was being built. Where is my bailout?? I wasn't making millions of dollars off the average American. i say, NO, bailouts are nothing more than a band aid to save the fat cats. Rescue the auto industry is bull-hockey...rescue the banks is bull-hockey. AND I am being polite !!


Ex-Ford Customer Rep from MD   December 3rd, 2008 9:43 pm ET

Michael, ASK FORD MOTOR COMPANY WHAT HAPPENED TO ALL THE MILLIONS OF DOLLARS THEY SPENT ON "AFTER WARRANTY ASSISTANCE" ESPECIALLY ON THE 2001 FORD FOCUS.


Kyle, Ohio   December 3rd, 2008 9:43 pm ET

Michael says management needs to change. Who would MIchael Moore suggest to be the CEO of any of the big three car companies?


Criz   December 3rd, 2008 9:43 pm ET

NO. Mr.Moore has a big point. This Country at the moment needs change. Also Obama is bound to become involved.The decision is going to be oviouse. No one can have a piece of mind to approve same cars as we've had destroying our enviornment to be once again manufactured..


Kelli from Tampa   December 3rd, 2008 9:43 pm ET

Yes the oil companies should bail them out.
I still will only buy Toyota or Subaru.


Cy (Montreal)   December 3rd, 2008 9:43 pm ET

I support the loan, however, Chgange the upper management and put new leaders in.

They must build the acceptable cars and become competitive as all other businesses.

Lower the wages of the assembly line workers.

When assembly line workers earn more than teachers, the system lacks credibility.

Your teachers are very poorly paid.

Renegotiate all union contracts.


RICHARD   December 3rd, 2008 9:43 pm ET

LARRY: I FEEL LIKE IF GM NEEDED THE MONEY BAD ENOUGH THEY WOULD STAY IN USA TO BUILD THE CAR AND TRUCK HERE NOT IN OLD MEXICO.


Ken Beare   December 3rd, 2008 9:43 pm ET

I agree that we cannot allow the car companies to go under for all the reasons we all know. I LIKE MM's green perspective on the situation. This a unique and in fact fortunate opportunity for the nation to force a redirection of the productive power of the auto companies for the benefit of the nation, the people, the economy and the environment.


Chris Knappett   December 3rd, 2008 9:43 pm ET

I 100% oppose a bailout. The auto makers do not deserve a bailout, and we should demand that they should be held accountable to the results of their poor decisions of the past (like all other companies). I feel that they should be expected to deliver value in the products they produce and that includes helping to reduce our dependency on oil. They should step up and take leadership on producing electric/hydro efficient vehicles etc. NO MORE fossal fuels. period.


john stineman   December 3rd, 2008 9:43 pm ET

hey larry I am totaly agreeing with michael on the issue of no bailout for detroit let them go chapter11 and restruct their companies. Mis management and too many freebee's kill the idea of no more free money from us the taxpayers. Let the top executives pay for the bailout.


Hudson   December 3rd, 2008 9:43 pm ET

No, I do not believe that the car industry should be bailed out. For too many years they have built substandard products, it is time to pay the piper! Let them fall and see what if anything can be recovered. I for one am not proud of the fact, but I have never bought anything car made in America.


Candy Kelly   December 3rd, 2008 9:43 pm ET

We absolutely should NOT give money to these CEOs and COOs who have clearly demonstrated that they cannot manage a company for profit – except for their own millions of dollars in compensation. It is obscene for these people to take home millions of dollars while jeopardizing the workers' pensions and paychecks. Our government should demand resignations from all of them and surely we can find people who are smart enough to use the bailout money wisely and put the automakers back on track, Michael Moore could probably perform the interviews and do the hiring.


Sri lakshmi   December 3rd, 2008 9:43 pm ET

They should be allowed to go bankrupt. Spend the money on education, infrastructure and everything else that can create jobs to employ the people who lose their jobs and want to work!!


CINDY GASPARIK   December 3rd, 2008 9:43 pm ET

The question should not be about the support of a bailout, it must be whether or not the congress has the right to decide such a measure. It isn't there money to give away... There shoud be a vote. Hence no bailout!!!! Recording all congessional participants voting for this bailout in order to vot them out


Michael   December 3rd, 2008 9:43 pm ET

Larry–Michael Moore doesn't acknowledge that we are in this bind because of the freezing of the credit markets. People can't buy cars because they can't get loans/leasing. This problem also is not
just confined to North America–it is global in scope. GM didn't
create this mess–we are victims of it.
Secondly, GM has more cars that get 30 mpg than any other
manufacturer. GM is also investing in alternative technologies–from
electric vehicles to fuel cells. We are basically, reinventing the
automobile–it is not something that can be done on a dime.
Michael
Toronto, Ontario, (GM employee)


A.P. History Student   December 3rd, 2008 9:43 pm ET

There is only one thing I can say as a watch CNN is to review history. One who reviews history can figure out the solution to a crisis base history is deemed to repeat itself no matter what. Why do you think we are required to review history in school?


Dey   December 3rd, 2008 9:43 pm ET

It's easy to sit on a comfortable chair and design a car that gives 100 miles/gallon and is the safest car that would prevent harm at any condition. We should throw out all Physical science book and create these products in the virtual world.... Good luck Michael...


Harry New York   December 3rd, 2008 9:43 pm ET

It seems to me that nationalizing the auto industry would allow the government to fundamentally insure job security for auto workers. If the resources of the Big 3 were put towards public works, millions could be put to work towards bettering the American infrastructure. We could demand a shortened workweek that would spread the work around, and take control of innovation and development in the auto industry by putting it under the care of the transportation department.


Kathy Gabel   December 3rd, 2008 9:43 pm ET

Hi Larry,
I do not feel that the American people should bail out the auto industry. Exxon-Mobil, on the other hand, has been raking in billions now for years. They should step up to the plate and "loan" the money to the very industry that has helped them make all their money.


VINCE SAPARAMADU   December 3rd, 2008 9:43 pm ET

I HAVE GROWN UP IN FORDS/CHEVS AND CHRYSLERS HAVE AT ONE POINT IN MY LIVE OWNED ANY ONE OF THESE MAKES CURRENTLY I DRIVE A F150 LOVE THE TRUCK BUT WHAT IT BOILS DOWN TO IS A MODE OF TRANSPORTATION FROM A TO B AND BACK IT DOSN'T MATTER WHAT I DRIVE AS LONG AS I OR WE CAN GET AROUND.


Kouakou   December 3rd, 2008 9:43 pm ET

I don't think that they should be able to be bailed out. They have already taken so much from the consumers. I recently purchased a Jeep and the seat belt became twisted and they refuse to fix it unless I pay more money. How much more money can they take from me!


Roger   December 3rd, 2008 9:43 pm ET

The big3 have no credible plan for success with the current business model. Without providing evidence of any kind, they dismiss Chapt 11 as an alternative. In fact, it is the only viable alternative. Chapter 11's very purpose is to allow for reemergence of a solvent business.

Let the govt support the industry through bankruptcy. This is the only way to save jobs.

And please, let's stop focussing on execs' salaries, perks, etc. These are just red herrings.


Teri Nelson   December 3rd, 2008 9:43 pm ET

I agree with Michael on this, no bailout for them........Let them
file reorganization ch 11......... With govt as debtor in possesion.
Teri and Jon in Calif


Jerry   December 3rd, 2008 9:43 pm ET

Yes. More jobs are tied to the automobile industry and it has the biggest effect on the economy than any other industry in the United States.

Jerry Williams
Harland, Wisconsin


Andy Winnie   December 3rd, 2008 9:43 pm ET

Belleville Michigan


Cynthia Wren   December 3rd, 2008 9:43 pm ET

I am absolutely against bailing out the car companies. While it is more than likely that Congress will assist with some giving them some money, it should be a loan.

Why don't the Big 3 car companies cancel their contract with the Teamsters? I honestly believe that is a huge problem. Nissan, Toyota and BMW don't have the Union in their factories and their employess are hard workers, happy and make a decent living.

The Teamsters are bleeding the Big 3.


Sandy   December 3rd, 2008 9:43 pm ET

Michael Moore has the right idea. Use what infrastructure and talent we have to build what we need for the 21st Century. Americans have a history of being creative and practical. No money to the auto industry unless we change direction.


Treva   December 3rd, 2008 9:43 pm ET

I love you Michael Moore! Will you marry me?


JAMES MCARTHUR   December 3rd, 2008 9:43 pm ET

i just sold a 2000 Buick that got 31 mpg
My new 2008 only get 23 mpg. What with that Detroit


Jeff Wright   December 3rd, 2008 9:43 pm ET

Chastising the big 3 CEOs over the use of corporate jets was political theatre and misses the point. The US is famous for its manufacture of cars for people all over the world. Its true that they have been slow to bring the best cars for the times, but they are in the works, and will appear on the roads soon – given a chance.

While Moore's ideas of putting the public in buses and trains is a noble thought it can only happen with a major culture change by the American public – not whether the car makers can make the appropriate cars for the times, never mind trains and buses.

Compared with the bail out of the Wall Street crooks this bail out should be a no-brainer


paul rhodes   December 3rd, 2008 9:43 pm ET

No, I do not support the loan for the car companies, because I needed ten grand to keep my farm and I could not get it. I was threw out of my farm two weeks befor cristmas, lost my focus withj college and alcahol almost got the best of me. Im getting over it after six years. thank you george bush.


David   December 3rd, 2008 9:43 pm ET

I am Canadian, but we still have similar problems here. Part of my business is restructuring of companies and I have a suggestion for the Big 3 automotive bailout. Why doesn’t the government consider finding out from the BIG 3 what they expect the warranty costs will be for the next 3-5 years and if the number is manageable, instead of giving them the $25 billion, guarantee the warranties for all three companies providing that each one must go into Chapter 11 to qualify for the warranty consideration. That way, people will not be nervous about buying a car from a near bankrupt company. The financial institutions like GE, Citi and others that do DIP financing should form a syndicate to finance all three as DIP lenders under a Chapter 11 scenario. If the government needs to help them finance, it can be considered, but as DIP lenders, it may not be required. Have some of the best bankruptcy trustees in the USA be involved in the “healing” process and proposal to creditors and any of the creditors of the BIG 3 that get hurt should be given shares in the companies. Over time, the creditors could get their money back including any employees. It may also make sense that the hurt creditors/employees receive shares of all three companies (as a consideration from the government to guarantee their warranty program) even if they are only owed money from one of the three companies. That way, the creditors/employees have a better chance at getting their money back if in the event, any of them do not make it through. The Creditors debt payment consideration would be based on the stock trading price after the Chapter 11 is in place. The split of shares to the creditors/employees could be based on a pro-rata share of what each of the three companies needed in financing or some other equitable formula.

Now, to me that is Capitalism at work.


DR   December 3rd, 2008 9:43 pm ET

What about the unions and contracts of the auto workers? As a business owner, I have to make appropriate business decisions-Payroll is a significant overhead for businesses- These workers get an incredible amount of money in pay and benefits-If they go bankrupt, can't these contracts be renegotiated?


Charlie   December 3rd, 2008 9:43 pm ET

When the heads of the big 3 arrived in Washington last week in their private jets, it was so obvious that they just didn't get it. They said that they needed $25 Billion to make it right. Now a week later they are saying they need $34 Billion. Which is it? I am not at all convinced that they know what they are doing. They are out of touch with the problem. The problem is not the workers or the factoies, it is the heads of the companies. It is time to change these men and their antiquated out of touch ideas. They all look old and tired and rather smug about the whole thing.


Tom Campbell   December 3rd, 2008 9:43 pm ET

How about the CEOs of these bailed out companies work for $1/yr. until they turn a profit?


david   December 3rd, 2008 9:43 pm ET

No loans to any of the the "big three". Bankruptcy and re-organisation with new and competent management is the best course. Make them compete with the other auto firms. Make models to compete with the likes of Camry,Accord and Passat.


Ann K - Stevens Point WI   December 3rd, 2008 9:43 pm ET

Larry, Definitely not–no bailout! This problem is not something new... The employees, if they really want their jobs should cut their pay to $10 an hour and cut benefits to health insurance only! They can choose that or choose unemployment... They have good pay and better benefits than most people. I like the idea of the CEOs getting $1 a year, but it could be a little late for that. When a company creates a loss, the cuts should have started in that first year...they can always to made up for when the profits happen. If the profits don't happen, there is more of a problem that hadn't been dealt with... Are they people in favor of a SMALL BUSINESS bailout? There are small business bankruptcies daily that big business really doesn't care about...I would think they should count for something! Ann


PAUL SCALET   December 3rd, 2008 9:43 pm ET

I DO NOT AGREE WITH A BAILOUT.

WE SHOULD IN SOME WAY INVEST TAXPAYER MONEY IN OUR AUTOMAKERS IF THEY ARE 100% GEARED TO CONSERVATION OF ENERGY.

PAUL, MELBOURNE FLORIDA


Nik Mehrotra   December 3rd, 2008 9:43 pm ET

No, not with the current Management
They keep comparing with Asian manufacturer why don't they also start comparing big 3 top executives pay as compare to Honda and Toyota and their Technical(repeat technical) product knowledge

They need to stop blackmailing Government Job loss


Richelle   December 3rd, 2008 9:43 pm ET

Would it be possible to invest that money into creating and improving public transportation systems in more of our major cities? And employing those from the auto industry in the "public transportation" boom?


nicky, las vegas   December 3rd, 2008 9:43 pm ET

how about making those ceo give up the salary for one dollar as
they discussed and not cut 20,000.00 employee but fire the ceo they are the ones that run the companys in the ground and not the workers that make a salary that they can survive on everytime there is a problem they look to cut the small guy not the big jokes that sit at there desk and make stupid decision they should not give them any
money


Noah   December 3rd, 2008 9:43 pm ET

I would rather see every dime go to alternative energy research.


Kate Robins   December 3rd, 2008 9:43 pm ET

no! I have a Japanese car that gets 50 mpg, has 13, 500 miles and has never had a problem. If the US had made it I'd have an American car but they didn't so I don't. Lost my job last year, now drive 140 miles a day to my new job. I could only stay at my new job when gas was high because I had a car that worked for me. It has to work so I can work. Can't support problems!


Tony   December 3rd, 2008 9:43 pm ET

No. Provide the line of credit to Ford; close Chrysler, and liquidate GM for the amount of money they want. The useful assets that GM has for building hybrid vehicles would likely be bought by Ford to actually create a working product. No money should be provided to a losing proposition, just like any other business.
Toyota and the other automakers came into the US with a working model that makes money, so why bail out companies that don't.


karen   December 3rd, 2008 9:43 pm ET

Mr. King,

Absolutely no bail-out. I have been a tax payer all my life and have never been able to afford a new car. When my business failed no one bailed me out. I usto have GM workers come into my business and brag about how much they made. What about the rest of us who work for small wages? I put in 17 hr days and cleared 18 thousand a year. I had people that were young come in on disibility and brag how much they were getting and would never have to work again. They had a bad back ect. Why should we take our hard earned taxes and bail them out? They should not have been so wasteful and greedy.

Thank You
Karen


Michael   December 3rd, 2008 9:44 pm ET

Unfortunately, no. The bailout plan, as presented, addresses the supply side of the auto industry when the problem truly resides on the demand side. As Mr. Moore stated, if you put more auto workers out of work the demand for cars will just fall further. To get the supply/demand dynamics in equilibrium it would seem that at least one of the Big Three may have to go away. It is a sad situation but simply fixing the auto makers problems is not going to change years of mismanagement. If Congress elects to provide funding to these companies they had best demand that new management be installed or this may just end up having the taxpayers throw good money after bad.


nina anderson   December 3rd, 2008 9:44 pm ET

I don't ithink we should give a penny to these companies that clearly abdicated their ethical responsibility to produce high mileage, alternative fuel automobiles instead of the gas-guzzling monsters that they would surely be continuing to make if it weren't for the high price of gasoline this summer. Tie any bailout to a complete overhaul of the big 3 management to responsible corporate management that is committed to reform this vital industry. Throw these bums out!!


Odysseas Papadimitriou   December 3rd, 2008 9:44 pm ET

It is simple.
1) Have the goverment take over their retiree plans and give them the same benefits as federal employees
2) Break them up so that we can have innovation
3) Fire their board of directors and top management
4) Increase the MPG requirements immediately and aggressively
5) BRAK UP the unions - they still have job banks and now they need our money!


Michael Mahoney   December 3rd, 2008 9:44 pm ET

Michael Moore seems to think the jet setting bigwigs are the only problem at the big three. Will he admit that the UAW shares the blame, by forcing the auto makers' cost of labor, pension, and employee health care so high as to be uncompetitive?

Michael Mahoney
Guelph, Ontario, Canada


Martha   December 3rd, 2008 9:44 pm ET

yes, bail them out, all of us that own a Chevrolet and have purchased extended warrantees will lose our money if they go down – think about more than just the CEO's -- think about all of us that are dedicated Chevrolet owners. I just bought a new Chevrolet with the extended warranty – I don't want to lose all that money
Plus the workers need their jobs – we can send money to others all over the world – that is OK – but let's also help right here.
Mass Transit does not work in rural areas.


Patrick Stuart   December 3rd, 2008 9:44 pm ET

The Big 3 car dealers have had their chance to make fuel-efficient automobiles for many years. We still have those automakers who are making automobiles affordable and fuel-efficient. No to the bailout or government-owned automakers.


sheryl galt   December 3rd, 2008 9:44 pm ET

No, not until they come up with a product that people can afford and is sustainable. I suspect we have enough vehicles to get us by until they retool.


Erica   December 3rd, 2008 9:44 pm ET

We should not bail out the car industry which is fueled by supply and demand. If no consumer wants your product, then you should change your product to fit demand. Clinton warned the car industry about making an outdated product and the Japanese and Koreans listened, but the Americans refused to listen. An American Capitalistic Business who refuses to listen to demand and makes an outdated, unwanted product deserves to disappear. American was founded on innovation and this is not innovation. Why not spend the money to bail out the Middle Class which is burden with Student Loans which prevents them from having access to disposable income with which to consume products, even if the products are the ones in demand, like the Toyota Prius.


john   December 3rd, 2008 9:44 pm ET

let's scrap the whole damn concept let's start over with fresh ideas!michael moore is right on!


Renee James from chicago   December 3rd, 2008 9:44 pm ET

Hi Larry,

I agree with Michael Moore, why should the auto industry be bailed out? I'm sure this is not the first time they have been bailout. But, why do hard working Americans have to loose their jobs so that the greedy executives can go on these expensive vacations. The money they use to fly around in jets. They could make sacrafices just like the rest of tax paying Americans. I say the buck should stop here and now!!!

THANKS Michael for speaking the TRUTH!!!


Zoran from Detroit   December 3rd, 2008 9:44 pm ET

It is important to remember that by denying the Big 3, we aren't "punishing" the millionaires and billionaires who are at the head of the companies...we're punishing the thousands of middle-class workers, the ones who deserve to keep their jobs.


Sarah Ogle   December 3rd, 2008 9:44 pm ET

Yes I do believe we have to loan the big 3 auto companies. Key word here is loan, why do we give bankers trillions of dollars with no questions asked. What these companies failure would do to further destruct our economy. Sarah Indiana


Hollywood   December 3rd, 2008 9:44 pm ET

The idiots who run the Big Three auto companies into the ground are more interested in their bonuses by selling mediocre kitchen appliances on wheels than passionate, exciting and thrilling cars to fuel the imagination of generations to come. Lets make the American automobile once again the inspiration of millions of people who love the idea of the automobile.


Susanne   December 3rd, 2008 9:44 pm ET

I oppose this because they have not made enough effort to try to make energy cons. cars. They have over spent too much on these big cars. It just doesnt make sense.I really like Michael Moore because he says what he thinks and I respect that. Thanks, Michael
Susanne


Deborah   December 3rd, 2008 9:44 pm ET

No. Many Americans-with college degrees-are working for far less than the auto workers. People cannot afford new cars....no matter what they promise to build! Look around, people can't afford food, utilities, etc. Listen to Michael Moore....HE makes sense!


Bob Janesville WI   December 3rd, 2008 9:44 pm ET

One of the thing that hurts all industry is the fact that managers and engineers had to work in the factories for about a year before they got placed as a manager or engineer in a plant!!! Today there are no training programs...........A college grad with an MBA may never have any work experience and yet be hired to make management decisions with no idea of what they are doing or if they are making a profit!!!!!! These companies didnt go broke over night!!!!

Bob in WI

Obaman should stop all production on non green cars and make the companies make mass transit components and economy cars.


Diane   December 3rd, 2008 9:44 pm ET

I do not think the bale out is a good thing. Why not give every taxpayer $250,000 and I bet the money goes back into the economy and everyone would buy a new car. Fire the ones that got the auto company in that shape.


Hani   December 3rd, 2008 9:44 pm ET

there should be a structured bailout and close scrutiny of the big 3 but i disagree not bailing them out when 600 billion was given to the banks who destroyed the economy and no one is mentioning that


Douglas   December 3rd, 2008 9:44 pm ET

Michael is too idealistic; let's be real here. What he wants is not going to happen. So instead of giving impossible goals, why not search for a realistic solution. Otherwise, what will happen is the collapse of these companies, which may not be a bad thing. No bail-out, followed by the death of the Big Three, will result in a longer depression but out of the ashes will rise new companies that provide the alternatives to gas-guzzlers like Michael suggests. So, Michael: why don't you work on a plan that can work somewhere in the middle, something realistic, instead of going for pie in the sky ideas and mostly just complaints?


Carter Helm   December 3rd, 2008 9:44 pm ET

I totally agree with Michael Moore, the big three are way behind in meeting environmental, emission and energy requirements. No, we should not bail them out as they are asking.

We need Mr. Moore in Washington.


Patti   December 3rd, 2008 9:44 pm ET

I'm against bailing out the auto makers. We've bailed them out before, and they haven't learned anything. If we have to spend money, why not use the money to give the laid off employees unemployment until new businesses can take the place of the failed auto companies. $25B should last a long time giving unemployment.


Glen   December 3rd, 2008 9:44 pm ET

I have heard the bailout could reach $8 Trillion, That is $26000 to every American or $53000 to evryone who received 2008 stimulus. If that were given directly to the american people that would equal in sale tax alone, 240 billion State, 240 billion City/County, 80 billion school, 80 billion Fed. That is tax rate in my town. That would fix mortgage,student loan, car purchase, pay behind bills. Directly helping the economy. Let the US citizens chose who survives and who fails.


Donna Kikstadt   December 3rd, 2008 9:44 pm ET

Yes, but only if the heads of these companies can only make $40,000 as my husband did when he retired. Let them see what it's like to live like the rest of us. Millions of dollars they make? Phooey! that's crap!


Steven Stinson   December 3rd, 2008 9:44 pm ET

The support of The Big Three is important. As always, consumer demand has led these companies and other industry automakers to produce a product that fits their needs. As globalization continues, the competitiveness of the auto industry increase, leading companies to cater more to the consumer.
The people who run the Big Three on varies levels are not "idiots." They will create products that are more fuel efficient, affordable, and reliable. Toyota became the number one automaker in the world by creating a product that consumers trusted and fitted their needs. American automakers have the capability to do just the same, given the chance...


Dave   December 3rd, 2008 9:44 pm ET

I agree with Mr Moore. We can't just hand over billions of dollars to an industry that hasn't listened or worked with the American people. My question is where was the "bailout" for the steel industry in PA, or the mining industry in Montana?? Is it up to taxpayers to bailout every industry???
Dave
Weirton, WV


Josh Kamis   December 3rd, 2008 9:44 pm ET

Here's the deal...Don't give the money to any company. They have proven that they don't know how to spend it properly. My thought is to give the money directly to the tax payers! If the people like you and I had 100k each, in this market I have to believe that most of us would spend it correctly for our families. We would buy cars and pay off credit card debt, pay the mortage etc. Give the people the money! Don't tax us anymore to support compaies who would go under without the handouts they are requsting.


ron   December 3rd, 2008 9:44 pm ET

I support the LOAN! Our government made money last time they loaned money to Chrysler and last time I checked the government needs a good investiment. It's time to start investing in our country like other countrys do. Rochester Hills, MI. Senior Electrical Engineer at the New Chrysler


dominic bevilacqua   December 3rd, 2008 9:44 pm ET

this siuation must be dealt with by car companies themselves. We should not be financing them at this point since they have not made the changes necessary that would give us confidence that they have a true path forward. They have made some promises but no actiion has been taken yet.


Dr. Kris Tamirisa   December 3rd, 2008 9:44 pm ET

Larry,
ONE MORE THING..
IF EVERY WILLING AND CAPABLE AMERICAN FAMILY GETS 30-40,000K ONE TIME TAX CREDIT TO SOLARIZE THEIR HOMES,IMAGINE THE BOOST TO OUR ECONOMY-JOB CREATION...NO MORE STIMULUS PACKAGES NEEDED LARRY....I WISH OUR NEW PRESIDENT OBAMA DOES THIS!!!
KRIS


Debby   December 3rd, 2008 9:44 pm ET

I do believe we should try to salvage these automakers but only if adequate oversight in in place to monitor the progress/success of the bailout. We should also ensure that bonuses, expensive trips for meetings and all unnecessary expenses are prohibited until the bailout has been repaid in full.


Jay   December 3rd, 2008 9:44 pm ET

Mike is right we need to relook soeity and think big like he said expaned the world creating more jobs and life. think huge


Patty   December 3rd, 2008 9:45 pm ET

No simple bailout for the auto makers. If the Govt. steps in, it makes the rules. Michael Moore is exactly right.


anne gardner   December 3rd, 2008 9:45 pm ET

Larry,

I agree with many of Michael Moore's points regarding the big three automakers. I liked the fact that Congress didn't automatically vote for a Wall Street Bailout and was disappointed ultimately when the bailout was voted in a day or two later. My biggest concern is that our children will have to pay for Iraq, bailing out Wall Street and bailing out the big three automakers. Shackling my child's future with such a heavy tax burden is not fair! I think that if the big three need money, they need new leadership and any money given to them needs to be given with major league strings attached. Also agree with Moore on the need for alternative vehicles and mass transportation. We can't blame China or other developing countries when we ourselves, are busy polluting the planet...


Bob Thomas   December 3rd, 2008 9:45 pm ET

The assembly lines can’t run if the cars cannot be bought at the other end of the line. People can’t trade in their SUVs, etc, in order to buy more efficient cars, because no one wants to buy them, including dealers who won’t be able to get rid of the junk. Bail out the sales end of the system and the lines will be able to run.
Bob


McLains   December 3rd, 2008 9:45 pm ET

We need to help them in order to save jobs One of the things that needs to be studied is the fact that other car manufactures such as Toyota's cost per employee is so much lower than GM. I agree with Michael Moore saying that energy efficient is a must and so is expanding mass transit. I live in Arlington Tx which is one of the largest cities in the U.S. without any type of mass transit system.


Lynton Dittmar   December 3rd, 2008 9:45 pm ET

Bounce the executives at the car companies and rescue the companies to make plug in electric cars that give 100 miles to a charge, like Teslar does!!


Maureen from St. Louis   December 3rd, 2008 9:45 pm ET

No, no, absolutely not one penny!


Joe   December 3rd, 2008 9:45 pm ET

No! I lost my job 5 months ago and nobody is going to "bail me out" . Let them go under....and yes I did work in the auto industry


Bob Pomeroy   December 3rd, 2008 9:45 pm ET

No. I prefer a chapter 11 reorg with a new CEO and strict orders what to build along the lines of MM, or a direct purchase of a controlling interest to that end. there are separate objectives: keep people working, max return on existing physical plant, redesign/engineering of physical plant and product.
This can be accomplished via chapt 11 without constituting an unconstitutional government taking, or the current market value of the stock can be used in a forced sale. The bail-out money would be used by this reorganization, and possble transfer-back to previous shareholders can be left pending.
The point is that the physical plant and employment are too big to lose, and current mgt has been warped by internal politics. Although I am neither a Republican, nor a supporter, I think Mitt Romney would be an ideal candidate for the uberCEO because of his success at the Olympics, and that he was raised at a dinner table at which the operation of an auto company was often the topic of discussion, ie, he's hard-wired for the job. The policy should be articulated with commonwealth as our primary concern.


wyatt gasparik   December 3rd, 2008 9:45 pm ET

I'm 14 years old, I'm frightened of the government in this country, it supposed to be for the people not for the corporations.... I'm not going to foot the bill with my future, it isn't fair.


Dan Attanasio   December 3rd, 2008 9:45 pm ET

I agree with Mike. This is an industry that under its current leadership has not been innovative. In fact, they've been the antithesis of innovative, burying countless technologies incubated over the decades that could have transformed the American automobile and auto industry. Why would we expect it to be any different this time? What did Einstein say about doing the same thing, and expecting a different result?!?


Jerry Rutledge   December 3rd, 2008 9:45 pm ET

Put a $2.00/gal tax on gasoline. Call it something patriotic like "Energy Freedom Surcharge" with an exemption for commercial vehicles then take the revenue and use it to help the auto manufactures retool for energy efficient vehicles. Any leftover funds could be used to repair the failing infrastructure. GM could stop producing Hummers, SUV's and Trophy Trucks and consumers would be motivated to buy the more reasonable fuel efficient vehicles.


jasmine   December 3rd, 2008 9:45 pm ET

Definitely not – this is not a solution for the BIG mess they are in – We have to deal with the cause of the problem rather than a symptom – I agree with most of the things Mr. Moore is suggesting –


eshan   December 3rd, 2008 9:45 pm ET

The automakers do not deserve the bailout. They wasted money, made inefficient cars, and management got big bonuses. The government should say no. They should make an example of them, and in the future when new American car companies are created this problem won't occur.


P. Jones   December 3rd, 2008 9:45 pm ET

One of the problems I have about saving the big 3 is that we don't need any more cars. If the government wants to save their factories and workers, make them start producing only hybrid engines and retrofitting all the cars that we already have. That way, the dealerships will also be saved, because they will be needed to install the engines. They already have the tooling and technology to make hybrid engines.


David   December 3rd, 2008 9:45 pm ET

I believe we need to help them in the short term. I agree we should require them to restructure. I also think laws should be changed to give the big 3 the same chance to succeed that the foreign automakers have. I mean the big 3 should not have to use the UAW. The auto industry is a supply/demand industry. The big 3 should be able to adjust their output to match demand.


Chris George   December 3rd, 2008 9:45 pm ET

lets see the all the books on the Hummer brand.
how many sold at what cost of development and advertising.
didn't chrysler reintroduce the hemi at the worst time?
these company's are dinosaurs.
all three brands should disappear.


wendell burks   December 3rd, 2008 9:45 pm ET

no bail out for auto makers.....the C E O's are making millions of dollars every year,,,let them re-invest their millions back into the company.....no one should get paid as much as they do.....to jump start the economy, give every tax payer who made less than $ 200,000.00 a tax free check equal to waht they made last year....then we can pay our bills, mortgages, butycars and other products and even put money into the bank....giving money to the rich C E O's is not doing anything positive for the economy......the money flows up from the working class not down from the rich !!!!!!!


Sue Lloyd   December 3rd, 2008 9:45 pm ET

We must help the American Auto Industry. The effects of job losses throughout America would be devastating. Not only the auto workers jobs, but the companies that make components for the auto industry would be affected. It's a no brainer. Why would we Americans let an AMERICAN Auto Industry fail and let FOREIGN autos completely take over in our country. That is one reason the Big 3 are in trouble now. We have slowly let the Foreign Auto Industry into our country, starting in the 70's, and then the Free Trade Agreements did nothing but hurt the Ameican Industry. We should have done more years ago to protect our American Big 3. Where is your American Loyalty? That's what is wrong with our country..there is no loyalty to American products.


Harry New York   December 3rd, 2008 9:45 pm ET

It seems to me that nationalizing the auto industry would allow the government to fundamentally insure job security for auto workers. If the resources of the Big 3 were put towards public works, millions could be put to work towards bettering the American infrastructure. We could demand a shortened workweek that would spread the work around, and take control of innovation and development in the auto industry by putting it under the care of the transportation department.


David   December 3rd, 2008 9:45 pm ET

It should be REQUIRED that the AUtomakers create jobs in this country before we agree to give them the cash. There should not be a foriegn made "Big 3" car sold in the USA!


Jerry   December 3rd, 2008 9:45 pm ET

Why can Tesla, a privately funded company, build an electric auto privately but the big 3 can't, even with $34 B?


sarah anderson   December 3rd, 2008 9:45 pm ET

Each American should recieve a tax credit to go to the big 3 who would then convert their current gas guzzlers to alternative energy solutions (natural gas, bio-fuel and/or electric). This could be a piece of the puzzle to get the US economy back on track and also fast track our environmental objectives. I agree with Michael Moore on Mass transit as well. Refocus these companies onto growing business instead of bailing out a shrinking business!


Hank, Raleih, NC   December 3rd, 2008 9:45 pm ET

It is hard to believe that the incomes of these 3 CEOs are so high even if they knew they were not doing well to build the cars suitable and competitie for 21st century. Why do they not take a few million dollars cut in their salaries to support well being of their companies. Also the UAW should do something as to take a little bit pay cut when the auto workers are making $75.00 per hour. I do not support this bailout or a bridge to the loan as all CEos are saying. I think if at all bailout happens it should be given to completely new management starting companies with new vision.


Diana   December 3rd, 2008 9:45 pm ET

Larry:

I have a company and 4 years ago I filed Chapter 11 reorganization.
In regard to the auto makers, I think they need to file a chapter 11 and break the union contracts. In order to even make it through Bankruptcy reorg, you have to prove that you can make money from the day you come out of reorg and that you can pay your bills (current and future) in reorg. Giving any of them money without these kinds of controls is dangerous. In bankruptcy, you report on a monthly basis to a trustee and if you aren't sticking to your plan, they pull the plug. That way, we won't be throwing good money after bad for long. But to give them money just to stop the bleeding while they close plants will be a long, slow and potentially impossible win for the US taxpayers.


ma   December 3rd, 2008 9:45 pm ET

Mike is right. These companies have taken us on a ride and it wasnt in an American Car. The Government should just boot them out and fix the problems. The Car companies knew how to get 87 mpg gas 30 years ago but would never make it available. They deserve what they get. I think the idea of having the factories produce mass transit is great. We have to change how we think. If you work in the city everyday, you need to take the bus or train or whatever you have available. At least Car pool. Thanks for talking about this subj and allowing us to comment. 🙂 ma


Allan Hill   December 3rd, 2008 9:45 pm ET

Larry,

Michael Moore is speaking for millions of Americans who have been summoned to voice their frustration with ‘business as usual.’ One would have to be physically blind not to see the changing images of global climate control, bought on partly by the car manufacturing industry and green house gasses. We spoke in a unified voice on November 4, 2009 when we said ENOUGH. It is now too late for the parasitic CEOs of yesterday to attempt to induce old world answers into the 21st. century. This is our planet, and we will not take it anymore. If they do not want to change along with us, they can stand on the side of the road with their tin cup, dreaming of the toxic-filled earth of yesterday.


Scott   December 3rd, 2008 9:45 pm ET

We gave Wall Street 750 Billion dollars with no conditions and that was a mistake. When the manufacuring sector needs 34 Billion we say no, I believe bancruptcy is not a viable option for the
share holders or workers. Ifthe taxpayer lends them money they can pay it back as did Crysler in the Early 1980's. With proper oversight and fresh management and ideas we can have a prosperous automobile industry.


Maurice B Thomas   December 3rd, 2008 9:45 pm ET

Any loan requires collateral as well as a business plan that has within it a VIABLE MARKETING PLAN that is credible, and feasible, and if Mr. Moore's suggestions are NOT followed, no banker worth his salt should show them any money, but should show them the door while requiring that they leave the keys to the factory behind. Munitions should not be manufactured by ANY OTHER COUNTRY, including EADS as opposed to BOEING, and GM, Ford and Chrysler MUST manufacture our Tanks, Humvees and all other ordinance.


Ranae   December 3rd, 2008 9:45 pm ET

I do not agree with this bail out. I understand it. But what is confusing is, the government is bailing out all of these companies while America's children are uninsured and cannot get the medical attention they need. Why are we not as concerned about our children health and welfare as we are about bailing out everyone else. Our children are this contries future.


Donald Parker   December 3rd, 2008 9:45 pm ET

No! Let them go bankrupt and have the banruptcy judge appoint a master to run the company and work out the problems. That way the company stays in business and no one loses a job except top management.


debbie   December 3rd, 2008 9:45 pm ET

Are you kidding! GM employees have been over paid for years! Now, they want the tax payers to bail them out. No matter what we are in we are all in the same boat. So many people have been laid off, including myself in the past and had to take a pay cut of over $20,000 with no coverage to boot. I do not see the tax payers paying for my debts or my lost or my coverage!!!!!!! Why is the country even considering even the slights support! If this is the case of supporting employees of GM making way too much money then I would like tax payers too pay for may lay off and my wage decrease. I had to go and find another job with a pay cut then the rest of the world can do the same. Just because you worked for GM does not mean that you are a better person then the rest of the world.
Sincerely
Debbie


Ron   December 3rd, 2008 9:45 pm ET

Gas prices at $1.75 per gal? Why would I pay $40,000.00 for a Electric Chevy Volt when i can buy a nicely equipped 4X4 that i want to drive for less than $40,000 By the way, why is gasoline so inexpensive these days... and who reqally knows how much oil is in this world?


Stevo   December 3rd, 2008 9:45 pm ET

One of few things I disagree with Michael Moore. We need to help out the Auto Industry. With restrictions. No big salaries, downsizing and more efficient cars, compete on a global scale. Reminds me of that old Frank Sinatra song "Swinging on a Star"


laura   December 3rd, 2008 9:45 pm ET

i think the pay for ceo ect employees should be on how the sales are


Laura   December 3rd, 2008 9:45 pm ET

To Janette,
After 23 years I assume you have a pension. I DON'T HAVE ANY PENSION! How is it I am responsible for your need for retraining? I at the age of 59, with NO PENSION, require retraining too.


Gerry   December 3rd, 2008 9:45 pm ET

My 401K is almost gone, do you reckon I can get a bailout for retirement?


Marvin N. Coonce.   December 3rd, 2008 9:45 pm ET

As a middle class consumer with access to car auctions which offer prices below blue book value, I believe that a new set of low cost, low pollution standards on the major automotive companies would benefit us in the long run.


erick pallais   December 3rd, 2008 9:45 pm ET

No, I don't support the rescue plan for the auto industry because they will fail anyway because they don't have a good plan. Why they don't ask for assistance from the oil company? Without an auto industry the oil company won't be able to sell the oil at the gas pump.


Josh Kamis   December 3rd, 2008 9:45 pm ET

East Brunswick, NJ


Marc P   December 3rd, 2008 9:45 pm ET

I agree with Michael Moore. I do not support a bailout. A restructuring of the companies is key. Hitting bottom is the only way some people learn any lesson.


jon whaley   December 3rd, 2008 9:45 pm ET

NO WAY. let one or more go bankrupt and use that system to 'fix:" problems. The way the ceo's talk they are sooooooooooooooo close to being profitable it shouldnt take long to emerge from a pre-packaged chapter 11.

or give 300,000 people each $30,000 CREDIT RIGHT AT THE DEALERSHIP ( WE WALK OUT PAYING ZERO DOLLARS FOR ANEW CAR) to buy any american car they choose. That should goose the industry and jolt them back to profitability.

get rid of the job bank now.


Nicholas   December 3rd, 2008 9:46 pm ET

Yes, bail them out...with the following conditions aimed at changing the economics of the industry:

1) part of the money goes toward current operations

2) part of the money is dedicated to hybrids....with seed money and incentives based on actual prodction

3) part of it for a national health care pilot (remove this burden from the automakers, ensure care for those at risk, and allow us to see how a plan might work)


Jeff   December 3rd, 2008 9:46 pm ET

Let the automakers go bankrupt! If we didn't have the Japenese and the Koreans, we'd be even more robbed at their pricing of their cars. I'm sorry but saying in a commercial, just $329.00 per month is just beyond most of us with everything else we have to pay for. American automakers pay $73.00 per hour versus $48.00 per hour the Japenese pay per employee. That's a drastic difference. Still too much. I wish I could get $48.00 an hour. Trash collectors make only $25.00 an hour and I feel their job is much harder. These automakers need to stop paying all of those pensions too. If they would make cars only $4,000.00 and up to $13,000.00 only, they would make more money in quantity of sales. Of course immediately change all cars to green as well. From those changes maybe I would consider it, the bailout I mean. I'm sorry that people will lose their jobs, and warranties will not be enforced, but if that is what it takes for people to be people again and not greed-mongers, then I am all for it. It's a perfect lesson and a way to start all over and do things right from the start.


Jim Moorhouse   December 3rd, 2008 9:46 pm ET

Micheal Moore,

Is it true....when GM employees are laid off, they continue to collect 75% of their wage? If so for how long>


Susan Dumas   December 3rd, 2008 9:46 pm ET

Not only should the unions take a pay cut , so should the guys who made millions while not being profitable If we're to give a bail out to the Big 3 Auto makers, then we need ensure through negotiation, that management makes significant consessions in salary, bonus and perks. Example: CEO with a $1,000,000 salary and no bonus until loans are repaid. Unions also need to come into the 21st century and the realities of the costs for employee benefits. The majority of American workers, pay greater than 20% contribution towards their health insurance and do not have pensions rather their own retirement savings; a radical thought perhaps unions, municipal workers, etc. should take a page from private enterprise and move the needle when it comes to employee benefits and sharing the burden with the employers. Benefits are as important as salary and add 30% onto the cost of each employee. No longer is any component of an employee's compensation a sacred cow, its time to be prudent if we are to have any chance of success with handing over so much to those who are less than fiscally responsible.


Susan   December 3rd, 2008 9:46 pm ET

Michael Moore speaks the truth – my opinion – if there is a bail out, the current management must be fired; How about sell one of the jets for some cash. How on earth do these people keep their jobs?

susan


Bob Kurilko   December 3rd, 2008 9:46 pm ET

Absolutely not. I am an auto executive, and I believe that the path to a vibrant domestic auto industry 5 years from now must take the path of bankruptcy. Due to the classic "principal-agent" conflict, they simply can't fix themselves and a bailout simple enables continued limping in the short-term and ultimate failure long-term when revolution is now mandatory for the future health of the industry. Unfortunately many will be casualties in the short-term.


Martin Trussell   December 3rd, 2008 9:46 pm ET

I agree with Michael in concept, but let's not presume to dictate to the auto industry, or any other, what they should make. Let the market decide.


Gordon   December 3rd, 2008 9:46 pm ET

The government loan for the domestic auto industry is critical to economic recovery as well as preventing a deepening recession. Mr. Moore stated this evening, "the domestic manufacturers need to make vehicles for the 21st century ...". Surely he knows by now that Ford Motor Company – a domestic car company is a quality leader across the breadth of their product line. Surely Mr. Moore also knows that all the domestic manufacturers make vehicles that are not only 21st century, but state-of-the-art in terms of technology, design, fuel economy and affordability. Since he is so articulate with respect to the domestic's failures in terms of product, I wonder if he can even name vehicles that are domestic brands that get more than 30 miles per gallon. Can he name their hybrids? Can he discuss any future products currently in development and soon to be launched?


Sam&Gabrielle   December 3rd, 2008 9:46 pm ET

Support it with the kinds of restrictions Michael mentioned. Check out the apollo Alliance,dedicated to retooling America.Larry,been listening since Miami in the 60's.Keep on keeping on.


Karen   December 3rd, 2008 9:46 pm ET

Michael is bang on! The trickle down affect of letting them go defunct is way too severe.
American automakers should also be monitored by execs at companies like Toyota and Nissan, they don't have these issues. This infortunately is a true double edged sword.


Linda   December 3rd, 2008 9:46 pm ET

Larry,
I think the automakers deserve the money. Instead of saying all of the negative things why don't we focus on all of the positive things they have done. Not only all the people they employ, but the taxes they pay, and all the charities they support. You cannot sit there and say they don't do hard work, the research put into General Motors has been overlooked by the American people. Michael Moore, your just talking without any knowledge or facts. Lets actually answer Larry's questions. We do not want to rely on the foreign countrys and this is what will happen if we dont give them this money. You all are saying this now but you will see when one of the companies go bankrupt the true wrath of this.


ChuckInWichita   December 3rd, 2008 9:46 pm ET

Since Detroit Auto Inc., for decades has built cars that consume way too much fuel, and has given Big Oil untold profits, maybe Big Oil should bail out Detroit Auto Inc.

Just a thought...


Lisa, Warren County, N.J.   December 3rd, 2008 9:46 pm ET

Interesting how the largest icons of free market capitalism get the largest socialistic package in our history.
Where are the anti-regulatory small-government proponents now?
How do right wing conservatives feel about these socialistic bailouts?


Emma   December 3rd, 2008 9:46 pm ET

The tax law encouraged the purchase of SUVS for many years. If someone bought a car for business and it was over 6000 pounds, they would be able to claim accelerated depreciation. There was a great demand for these cars to get this write-off. The legislatures created this nightmare with the then tax incentives. Even now, there are tax incentives to buy a big car even though they are less than a few years ago. The legislature created the monster, let the legislature help them out and guide them to make the cars that Americans feel we should be buying. There should be strict oversight and tough guidelines.


Julie Hart   December 3rd, 2008 9:46 pm ET

I totally concur with Michael on the bailout. He always makes complete sense. My favorite of your guests. I feel it is critical to not layoff the employess – that will just aggravate the economy.

But I love my american car. I am on my 6th Chrysler Voyager /Town and Country. I only have to reline the brakes and replace the tires for the first 100,000 miles. I would like to see better gas mileage – but we keep improving mileage and it is never enough. So I would like a target mileage that is reasonable – not a moving target.


ron sala   December 3rd, 2008 9:46 pm ET

hard work not hand outs built this country. u.s. auto makers have had 30 years to get it right. let the oil companies give them the money . not taxpayers. i have'nt been paying my tax's so we could bailout some incompetent boob's! let them fold and someone with a vision will pick up the ball and score a touchdown. bye-bye u.a.w. have a nice day..............


matt roach   December 3rd, 2008 9:46 pm ET

I'm totally against the bailout, the idea that Mitt Romney had was by far the best and should be used or applied to all these financial institutions as well


John Bick   December 3rd, 2008 9:46 pm ET

We should not fund entities suing the federal or state governments.

Any loans, guarantees, bailouts or other support should be given THROUGH THE BANKRUPTCY (CHAPTER 11) PROCESS where a court can invalidate inappropriate labor contract provisions to allow automation and staffing to match that of non-Detroit manufacturers in the US. (If this can be done the US manufacturers should be able to become VERY competitive VERY quickly without a major long-term support structure.)


Seth   December 3rd, 2008 9:46 pm ET

The bailout of the big three automakers is the worst idea I've heard in a long time. It sounds terrible that "millions are losing their jobs," but the auto industry is terribly inefficient in the United States. It's better to rip the band-aid off quickly then to just let this pain keep dragging on.

-Seth
Middleboro, MA


Julie, Garden City, MI   December 3rd, 2008 9:46 pm ET

Don't people care if we don't have ANY manufacturing in this country?

Auto workers make too much? What about the mine workers in Pennsylvania? Do they make too much? People are not going to be able to afford anything outside of necessities. How is the economy supposed to improve?


Bill   December 3rd, 2008 9:46 pm ET

Hi Larry,

It is important that the US learn from the mistakes of other countries. In Canada the Government had the Scientific Tax Research Credit. It was put in place for Companies to use to invest in new technologies. It didn't work! When the Government went in after the fact they found that the money had not been used as prescribed. The US Government will have to be able to ensure accountability before it gives anyone a cent.... Tough Love....


Milan   December 3rd, 2008 9:46 pm ET

I dont usualy support Michael Moore opinions,but he is corect on this one.They should bail themself out.Who is going to bail out half mil people already without work


cesar sarasota, fl   December 3rd, 2008 9:46 pm ET

If lenders don't find the automakers worth the risk..why should taxpayers take the risk?. too little too late! About the only thing that would get the public to support this bailout is for the automakers to announce they will close their plants outside of the US (with the exception for plants producing cars earmarked for other countries) and bring them back to the US!


Vladimir   December 3rd, 2008 9:46 pm ET

Of course we should give them the money as long as there is an oversight from government side. $34 billion represents 0.5% of $8.3 trillion dollars that all this chaos will cost us.


Kathy Norton   December 3rd, 2008 9:46 pm ET

Are the Auto executives going to sell their JETS and other ASSETS, such as Yachts, Resort Homes, etc?


Carol Woodman   December 3rd, 2008 9:46 pm ET

Auto Industry Bailout. I agree the industry should be bailed out to keep the jobs. However I don't believe the government should do it. I believe the Oil Companies should do it. They are the big beneficiaries of the auto industry and have been making record profits


andy welborn   December 3rd, 2008 9:46 pm ET

michael moore is talking in circles. He wants the big three to suffer yet save the employees. You can't eat your cake and have it too Mr. Moore. The big three need the money to keep the bulk of the middle class workers they have in a job or we can not give them money and millions will be effected.


Mary   December 3rd, 2008 9:46 pm ET

Michael Moore did the UAW and GM provide your family and you with a good living? You should do your homework before you spew venom about the American automakers and put thousands of people out of work
you have done more harm in your interviews by not doing your homework on the subject than GM has done.


Bob Cobb   December 3rd, 2008 9:46 pm ET

Yes, if they do it the way Michael Moore is suggesting. NO, if it's more trickledown economics "The People on the Top Get Rich while the huge numbers of people who are actually responsible for making the product GET A TRICKLE"

Bob Cobb
Danbury, CT


Craig Sloss   December 3rd, 2008 9:46 pm ET

The 5% Solution:

Require all lenders, credit card companies, etc., to reduce rates to 5%. People can then pay mortgages, car loans, credit card bills, etc. Everything can be fixed without bailout money!


EqualBranchesofGovernment   December 3rd, 2008 9:46 pm ET

It's so ridiculous.....how far we've dropped!!..........During WWII the auto industry "ADAPTED" and made the "JEEP" which is still producing today.........but Noooooooo.........they "WOULD NOT" adapt and become innovative the way they were and "DEVELOP" a hybrid vehicle to be used in the Iraq War!!


Mike   December 3rd, 2008 9:46 pm ET

Why are we not taking a comprehensive look at transportation? We have an opportunity to build a first-class national passenger rail and river transportation system that could be part of a strategic solution. Why are we only focusing on the automobile?


Selcen Onsan (the c makes the j sound)   December 3rd, 2008 9:46 pm ET

“I don’t understand your connection, that by saying…because General Motors was born here, it owes more to this community. I don’t agree with that. Because I just don’t agree with it. I believe it’s a corporation. It’s in business to make a profit. It does what it has to do to make a profit. That’s the nature of corporations or companies. It’s why people take their own money and invest it in a business…so they can make money. It isn’t to honor their hometown.” Tom Kay - Roger And Me

Why oh why should the "community" bail out a company, an industry, or an economic policy that thinks that way?

And furthermore, aren't these the same people who recoil at the word "socialism"? What is it then, when a government pays for a corporation, exactly?


Lisa   December 3rd, 2008 9:46 pm ET

I worked for one of the big 3 for many years and my husband still works there and I know first hand that they don't have what it takes to succeed. Don't give them the money!!!!!!!!! They don't know what they are doing and don't know how to create a successful viable company. They are a dinosaur company with their heads in the sand. They don't know how to create product that people want to buy. The US tax payers will just be throwing away money.

Lisa


Amy Ellis   December 3rd, 2008 9:46 pm ET

To Kelli from Tampa, I only wish that all of our nurses were brought into this counrty from Japan and put all of you nurses out of work! I could say that all the nurses are overpaid and under educated. How would that make you feel? Get educated before you speak. It is NOT the workers fault you uneducated nurse. It is not easy work in an oily, smelly dark factory all day. It is 110 degrees in the summer. Most are NOT air conditioned. They are not overpaid. Maybe the rest of the country is underpaid. And furhermore, we hope you don't buy an American car. You don't deserve one. Drive your japanese crap. Oh yeah, and it's UAW not AUW. Get a clue!


Shawn Williams   December 3rd, 2008 9:46 pm ET

My heart grieves for the little people who work for these companies. That is my most concern, however for them the CEO's who arrived in their jets. I'm am totally against them having this bail out especially GM. The owners of GMAC. They are an aweful organization , and treat people really bad. I currently have my mortgage under this company which is all the same, and they are aweful.

If there is a way logically way the little will not suffer or lose their jobs. I say no allow them to fall or at least GM. As a lesson to the others they need to be more practical when doing business instead of showing up in the jets begging for hand out. If they believe the company invest there own money.


Kathy in Chambersburg PA   December 3rd, 2008 9:46 pm ET

I support helping GM because they are the only one who has a working electric plug-in prototype.
GM has these cars ready to go, they just need funding to get there. We should fund electric vehicles, master the technology, and free our country from foreign oil.


billy ledbetter   December 3rd, 2008 9:46 pm ET

Ilove the autoworkers and agree with bailout!however moore is correct!!
Trim ceo fat


Diana   December 3rd, 2008 9:46 pm ET

My answer was No, I don't support it. Stemming or slowing bleeding and an eventual death is of no use to us or their employees....


Dan L.   December 3rd, 2008 9:46 pm ET

If the UAW want to save the Big 3 then the UAW should invest their pension funds in the compan ies. Put your money where your mouth is.


Gus Roncaglia   December 3rd, 2008 9:46 pm ET

I OPPOSE THIS BAIL OUT!

First, it is not gong to prevent the massive loss of jobs that I see coming. It is like putting a band-aid to an artery laceration.

Second, this money is going to find a way to individuals that want to save their assets. Some sort of compensations for their lost job, wich it's th law and you can't help but to let them.

Third, in order to stsrt from scratch and spring back up, we all need to touch the floor and accept the risks and consecuences, there is no other choice.


Harry Martin   December 3rd, 2008 9:46 pm ET

I do not support a 'bailout' of the automakers. They have promoted themselves as the makers of a mythical 'American dream', and have bloated the market with newer and more expensive cars and trucks that have no real value to an average person whose transportation needs are basic.
If they want a bailout, let them ask the major oil companies who make billions of dollars every quarter from fueling these expensive cars and trucks. Let the automakers go into the used car inventory and offer an economical retrofit/rebuild of the millions of idle transportation vehicles. Why does an intelligent person think they must have a new vehicle every year of so anyway? Let's make better use of our used ones instead. Rebuilding and reusing the used vehicles would allow the autoworkers to retain jobs as well...if it is done right.

Hello to Michael...

Harry


Remy Charmoz   December 3rd, 2008 9:46 pm ET

We are missing the point... The real culprit is Wall Street that demands constant quarterly earnings increases. You cannot run a car business on a 3-months cycle. Change the demands on management to produce quarterly increases, and you'll be able to build a business. The Japanes work on 10-20 year plans, not 90 days. Once again the culprit is Wall Street, greedy investors, and greedy stockbrokers..


John Ortiz   December 3rd, 2008 9:46 pm ET

Michael Moore is right on point, e.g., the current management should be terminated but we must recognize that there are 50 States and no company can deal with 50 or more different ideas about what should be done. Part of the bailout, which I believe is necessary, should be terminating the current management and "Board" as well as a uniform strategy and Federal requirements that manage the strategy and the States litigation.


John, AZ   December 3rd, 2008 9:46 pm ET

OH, Michael!! I'm smarter than that. I'm not opposed to a big 3 bail out because we've been bailing out everyone else and look what we have to show for it. I'm opposed to a big 3 bail out because these companies have been screwing up royally for DECADES. Enough is enough. Think long term, not short term. Bankruptcy and reorganization is better for the long run.


Susan McGraw Keber   December 3rd, 2008 9:46 pm ET

I am in agreement with Michael Moore. I remember Mr. Moore as a young radical anti-corporate documentary maker. I understand the need for GM to stay in business to keep thousands of Americans in work...but I do not believe at juncture that the current structure of GM and its lead command are suited to carry on. Abolish the old and bring in the new...just as we did on November 4th. The time has come to resurrect America in all sectors of trade and economy.


Jag   December 3rd, 2008 9:46 pm ET

will moore take a movie on Pakistan and what happened in Mumbai?


Tod Waters, Hartford City Indiana   December 3rd, 2008 9:46 pm ET

Mr. Moore touched on build-

ing trains just a moment ago. Although I'm still trying to make up my mind about this bail out, Obviously Mr. Moore is way out of touch when he insists trains need to be built. There's no place to run these trains. The Staggers Act of 1980 allowed so many rail lines to be ripped out, very few were railbanked, and the present rail infrastructure is to the point of being near capacity. The government had oversight of Conrail many years. In fact Conrail was able to break away from government oversight prior to being split up in 1999. Stick to your movies Mr. Moore.


George   December 3rd, 2008 9:46 pm ET

Bankruptcy is the only way for these companies to get out from under outrageous labor contracts. Some will loose jobs, but it's better to loose some at $42.00 per hour than many at $74.00 per hour.

The unions have been extorting the companies for decades and now this situation has reached its breaking point. Enough is enough.


Al Rhoden   December 3rd, 2008 9:46 pm ET

Larry I am absolutely against the Bailout in this form
I think there need to be a complete overhaul of the existing system as it is, why have American Automotive Industry been so uncompetitive
The Top Bureaucrats who waste the money on expensive Jets Parties
etc
I think we should get rid of the Big Three as they are and deploy the autoworkers into sustainable energy, green car industries and energy saving industries better mass transits light rails etc
I am sick of all these Execs with their nose in the trough, When will this End, Who Next.. the Auto Insurance Industry ????


Carla   December 3rd, 2008 9:46 pm ET

Against the bailout. It is past time to let free enterprise system work, some companies will fail. Others will rise to surface, thats the way it works. Put auto companies up for sale and let UAW purchase them and run them however they would like.


MonicaD   December 3rd, 2008 9:46 pm ET

Of course auto workers are for the bailout. What did you expect? Should the rest of us pay the price as well or should we as citizens ask for our own bailouts. Let me be first, I need 200,000.00 to pay off my mortgage and I am happy to pay the government back at 2%. unless of course you ask the banks to give it to me at that rate?


judith   December 3rd, 2008 9:46 pm ET

I feel the big 3 car makers should be held to a tight standard from the govt. or even better nationalize the three industries to build the infrastructures required to update the entire country. The 3 have had 30 years or more to get the message and all they do is change designs to bigger and faster and more gasguzzling. Chop off their money and revamp completey.


Kay Williams   December 3rd, 2008 9:46 pm ET

Absolutely we should bailout them out. However, I do believe that the Ceo's and all high paid executives should have a salary cap and eliminate bonuses not only for automotive but for all industry and corportations. Greed has run this country in the ground. I totally agree with Michael Moore in this matter.


susan   December 3rd, 2008 9:46 pm ET

The auto bailout is not a Wise Business decsion. Why not let them get loans from a bank IF they qualify? But I believe Congress will Cave. I do think Oversight is a good thing BUT who would Oversee it??? Congress? What a Joke


Linda Lou - Colorado Springs   December 3rd, 2008 9:46 pm ET

I wonder . . . would the American public feel differently about a bail out if the Auto Industry treated people like human beings instead of second class citizens when they went to a dealership to buy a car? I think buying a car from a dealership is one of the most dreaded experiences in human history . . .


Josh   December 3rd, 2008 9:47 pm ET

We do not support the bailout. Instead of rewarding companies that are run into the ground, why not reward companies that are well run?

Any bailout should be on the condition of a complete replacement of the senior management team.


Nick in Texas   December 3rd, 2008 9:47 pm ET

Like Michael, I lived in Flint, Mi. and saw the devastation GM caused there. What about phasing out the American Made cars off of the lines, and phasing in foreign made cars(japanese, korean, etc) . That would keep the workers employed, and give the consumer a product they can have confidence in.


doug mendrala   December 3rd, 2008 9:47 pm ET

bail them out as long as they bring the automotive factories back to the USA from Canada & Mexico


jeff covington   December 3rd, 2008 9:47 pm ET

I am opposed to the bailout...I think the employees should buy out the company like AMF did and let the employees, not managment turn the Big 3 around if they so care...also, how many employees own a foreign car???


cnnrules   December 3rd, 2008 9:47 pm ET

No Way!! Micheal Moore is 200% correct in not supporting the current management of the big for a bailout. These execs are just going to squander the money & lay off more people to satisfy share holders. Suckers. NO NO NO, do not do it.

This is an oppurtunity to clean up the US Auto makers industry and make more efficient cars for the next generation.

STOP, THINK , ACT.


frank tedesco   December 3rd, 2008 9:47 pm ET

we need to do away with the big 3,and form a USA auto maker.one co.with one thing in mind be the world leadind auto maker with a goal to build the best cars in the world,most efficient ,and put the best minds in charge,from outside the current industry leadership.fire 90% or better of the current executives.and hire more middle class.USA needs to and must be the auto industry leaders,in the world.


Anna Molnar   December 3rd, 2008 9:47 pm ET

I support Loaning the American Auto Industry funds to help them survive and emerge stronger. There should be more support of American made goods and products. This is an extremely valuable industry – that's why the Japanese, Koreans, and Europeans have been trying to corner the market for Years. We fund a war without any arrangement to be "paid back", we hand over money to the banking industry with no strings attached – but helping a vital industry survive to provide jobs for millions of people puts us into an outrage??


Jim   December 3rd, 2008 9:47 pm ET

Tell Michael Moore to focus on Hollywood movies. The auto companies have done a lot of things wrong and are already political engines- let em fail and give the bailout money to the workers, families, suppliers etc and their pensions, healthcare and unemployment- force them to reorg under chapter 11. You want to see US citizens buy American then sell the inventory underfire sale and staff the foreign auto makers with the tech's to service them.


steve jaworski   December 3rd, 2008 9:47 pm ET

I would support the bailout to the three major us automakers if all the components to this buisness are willing to lessen the overall cost of producing cars and lessing the overall business expenses including insurance and retirement benefits. That mean the unions cut in 1/2 their union dues to the worker to give the workder more cash flow – That means the union workers decrease a percentage of their wages in porportion to years worked. That is; a worker with 20 years service does not change his/her wages but a worker with 1 – 5 years decrease their wages 20%. Managment should do the same. The automakers should and must show the American taxpayers they are willing to shoulder some of this problem before the US government BORROWS another 40 billion dollars we the taxpayer have to pay interest on. The proposed business plan must be a shared risk,


Sandra Chancelor   December 3rd, 2008 9:47 pm ET

It's the government restrictions that have made these cars so expensive. Perhaps the government needs to keep their noses out of the car business. They can't even run their own business properly.


JPM   December 3rd, 2008 9:47 pm ET

It is obvious that M. Moore doesn't know a thing about the auto industry. And he comes from Michigan! He's concentrating on small potatoes – capitalism doesn't work, turn signal lawsuits, whatever. Truth today is the big 3 product competes very well on a world wide basis. AND, a few years ago, they couldn't make enough trucks and SUVs. That's what people wanted and that's what made Nissan and Toyota jump into that market. Yes, there have been sins in the past, but today's issues stem from: Credit crisis and lack of an energy policy (and a big oil lobby 3x as big as the auto lobby). Also, bankruptcy protection (chapter 11) will not work. As you can see right now, as soon as the word "bankruptcy" gets thrown around people will NOT buy what is their biggest consumer purchase. We need to help these companies to get back to building the vehicles we need. There is too much at stake. It amazes me that CitiGroups says "we need help" and the check is written. Why can't we support an industry that actually employs millions of people?


sharon elliott   December 3rd, 2008 9:47 pm ET

this rescue plan is the most vulgar assault of hard working Americans. We all need a bail-out after the last eight years of extreme corporate greed mongering. When is somebody going to speak out for the silented left holding the tab? I want a bail-out!!!


Robert Gasparik   December 3rd, 2008 9:47 pm ET

Nancy Pelosi and associates are the next to go, she rushed to sign the 750B , she is now heading the 50 B to the big three The Audacity, all americans are called to file a class action suit against the government immediately.! Call your attorney General state by state


Stephanie S   December 3rd, 2008 9:47 pm ET

I am very opposed to a bailout, which would only reward mismanagement. Let the Big 3 fail. It won't be the end of the auto industry. Airlines have been failing for years, and new ones are born that do a better job. New car makers will buy their assets and re-employ their people. We should not fear that this will be the end of the auto industry in America – it will be the birth of a new one, with smarter (accountable) management. These bailouts are nothing but welfare payments for the rich. It's crazy.


Jackie   December 3rd, 2008 9:47 pm ET

I think a bale out should include a mandate that CEO salaries cannot be greater than ten times (or some other reasonable amount) that of the hourly workers.


guadalupe   December 3rd, 2008 9:47 pm ET

they dont deserve it.let them build more fuel efficent cors and increase the fuel mileage then maybe? but not until then ....


Jack Burlison   December 3rd, 2008 9:47 pm ET

Larry, Michael has it right. Why are we giving "charity" to all of these multimillionaires and their companies. The companies are concerned about their shareholders not concerned about Americans. If you are going to use my tax dollars let's due this right and support the average American not the elite. There are certainly lots of ways to do this but NOT the way Paulson has done so far. Maybe we should outsource the CEO, CIO, CFO, CTO & etc. Let's quit out-sourcourcing our primary workforce and let's have some real vision run our primary Corporations. These leaders need to lead us into the next century not lead us into a disasterous future.


Michele   December 3rd, 2008 9:47 pm ET

While I don't agree with the auto bailout, I could go along with that one a lot better than going along with the bailout of the banks who, for the most part have put us in the mess we are. I am furious as I see companies like AIG flaunt the money we are paying with posh retreats and huge spa bills. If my tax dollars are going to bail somebody out I would rather it be Mr. Martini , Bert the Policeman or Ernie the cabdriver than Potter (in the spirit of Christmas I'm referring to characters from Its A Wonderful Life).


Gail   December 3rd, 2008 9:47 pm ET

Absolutely not! Nardelli for one, has already created chaos and a downtown for one major company, The continued greed of these industry "heads" is still obvious.

This is not the answer! Had they made their first trip to Washington via sensible, acceptable means,it might indicate they truly understand the current economic situation of those outside the automobile industry.


michael mehall   December 3rd, 2008 9:47 pm ET

yes I support, the loans to the auto industrl this is not the workers faut. This is the result of unfair trade policies in this country and support of other goverments of their industries through the minipulation of their currancy.


MA Grandinett   December 3rd, 2008 9:47 pm ET

of course, I meant when the companies were in the black


Susan J. Shauger   December 3rd, 2008 9:47 pm ET

Taxpayers should absolutely not support a bailout of the automakers at taxpayer expense. For decades American automakers have snubbed their noses at the American people, intentionally making shoddy vehicles so that they would self-destruct and rewarding themselves with huge salaries, and bonuses on top of those.... even when the companies were failing. Shouldn't bonuses be awarded for success?
Exxon-Mobile should be the place to look for a bailout. While other companies have suffered significant losses Exxon-Mobile has reported record profits. Surely they should share their wealth with the automakers who have made their profits possible by manufacturing gas guzzlers for so long.


Al Ceberio   December 3rd, 2008 9:47 pm ET

No! I do not support a tax payer funded bailout of these companies! They are not the only companies manufacturing cars in the USA. Toyota, Honda, Pugeot...they all have manufacturing facilities in the US.

Let them go under. Let them file for Chapter 11 like so many American citizens have had to do.

Why not let private investors step in and reshape the infrastructure and management of the companies. Yes, there will be a slow down, but for long. This is America...if we're not resilient, what country is?


Debbie S   December 3rd, 2008 9:47 pm ET

I'm not in favor of the auto bailout – let them file BK and restructure themselves like the airlines have had to do..then there has to be a whole new management in place – no big bonus – no private jets – so much waste why would any of us support this bailout?
They have had the gravy way to long in my opinion.


Tom   December 3rd, 2008 9:47 pm ET

Why can't the big 3 make cars for $20,000 get 35 MPH and warnty for 60000 Bumper to bumper like Hyundai

tom


jean wilkey   December 3rd, 2008 9:47 pm ET

If the government bails out the three auto companies, the government should own them.


Don Schrecker   December 3rd, 2008 9:47 pm ET

Why doesn't the bailouts in the US include packages that will include a package that will get the medical profession back in tune? Look at the amount of cost it adds to the price of each auto ,packed in,for medical benefits. Maybe they need to be brought back to earth as they are also a culprit in this economic mess too.


Stephanie   December 3rd, 2008 9:47 pm ET

As a taxpayer and very concerned long time resident of Michigan I support federal funding for the automotive industry. Without it more jobs will be lost, more people will move out of Michigan (if they can) and our trade deficit will worsen. I completely agree with Mr Moore (who is a neighbor) that we need alternative energy vehicles, mass transit where appropriate etc. What he doesn't mention is the negative impact unions have had in making domestic auto non-competative with foreign companies who have plants here in the US.


wmkmetta   December 3rd, 2008 9:47 pm ET

I learned to drive on my fathers 1952 Buick. My father is gone and so is his America. Time for a rebirth of our great nation.

No bailout for those whose greed has destroyed our auto industry


Bea Steelman   December 3rd, 2008 9:47 pm ET

Next time you have Michael Moore on you show please sk GM why they got rid of the Electic Car it was a beautiful car. Thanks


marie   December 3rd, 2008 9:47 pm ET

american citizens have been, in essence, voting for years with their purchasing of japanese, german and other foreign cars. we do not want to give money to mismanaged american auto manufacturers who have consistently ignored quality and fuel-economy. the workers will simply have to find other jobs, like the rest of us. NO bailout!


Joel Spurlock   December 3rd, 2008 9:47 pm ET

Dear Larry and Michael,
Would it do any good if a mandate or strong recommendation were given that if an American were to purhase an automobile that it be financed by a financial institution that were tied to an automaker? Such as GMAC.


Glenn Rivard   December 3rd, 2008 9:47 pm ET

Let the auto makers, get bailed out by the oil companies, they were in bed together anyway.


Glenn from Seattle   December 3rd, 2008 9:47 pm ET

I needed a new car recently and because my credit was destroyed because of medical bills from open heart surgery, I have to pay 24% interest. The banks and auto companies don't care about our problems. It angers me to think that taxpayers are now asked to bail out these institutions. Who's going to bail me out?


Andrew L - Vancouver, Canada   December 3rd, 2008 9:47 pm ET

Hi Larry, i agree whole-heartedly with Michael and it blows me away that companies like these can be run into the ground based on arrogance and greed when it was completely unnecessary and then be expected to be bailed out. They HAVE had the technology for YEARS and have CHOSEN not to use it because of the greed of them and all their big oil buddies and Bush cronies. Look at GM and the EV1 car, imagine where technology would be today if that program had continued from 15 years ago!!! and isn't interesting that now suddenly they are scrambling to create 'hy-brids' in giant gas-guzzlers like the Cadillac Escalade...makes me sick. There is a reason why every taxi in my city is Japanese, because its a GOOD and EFFICIENT product!!


Lee Kinney   December 3rd, 2008 9:47 pm ET

If we give this bailout money to the Auto Makers, of what benefit is it to me, the average American taxpayer? Can I return my GM SUV for an upgrade without a downpayment, with lowest possible interest rate (regardless of my credit worthiness), and not be asked to qualify for the loan? Can I return the current car for which I'm upside down in without any reprocussion to my credit report? Make me believe that this is the best thing for ALL Americans, not just the ones whom the auto makers employ.


sara   December 3rd, 2008 9:47 pm ET

Janette, If the bail out happen I think they should give back your job. The knowledge you offer should be wasted. I think they need to bring jobs back to the US and stop taking them over seas. I think the CEO should have to take a pay cut before loyal people like your self lose a job. Thank you for all your hard work. The big management should set the example and take pay cuts first. They do not need 8-10 figure salary.


Dan   December 3rd, 2008 9:47 pm ET

HEY THIS IS A LOAN .
A lone is smoething you pay back.
cant you get this right.


ann   December 3rd, 2008 9:48 pm ET

I must say i work in the automotive industry , and don't believe they need bailed out ............and slapped on the wrist ,even thow this may mean i loss my job.there is absolutley no excuse for mismanagement of money . and i as a taxpayer should not have to bail out the company i work for to keep my job.............


Ryan   December 3rd, 2008 9:48 pm ET

I would like to see Michael Moore work an 8 hour shift on an assembly line.

Then post the highlights of that one on YouTube.

That would bring some much needed publicity about the tough nature of work in the auto manufacturing industry!!

The Japs, Koreans & soon the Indians have out performed fat, lazy Americans like Mike...and now we can all SEE whay...oh, if I could be like Mike!


Kevin Taylor   December 3rd, 2008 9:48 pm ET

In the Past I have bought nothing other then 6 Chevy's and 1 Ford. not all of them were over priced junk. I do currently own a Chevy S-10 pick-up that runs good.
And I am impressed that it has not left me sitting yet.

However – it's a V-6 motor and get's 14 mile per gallon.

I will buy Toyota in the future. always.

Over all Michael Moore. Give us more. GOD BLESS YOU.

And the big three can close their door's forever. I would be glad to see it happen. They Spit on most American people throughout
history. It has been a long time coming. The big three is a disgrace to the American people.


Yvonne Eubanks   December 3rd, 2008 9:48 pm ET

I do not support the GM bailout. The airline I worked for 31 years did not get a bailout – it filed bankruptcy and 90,000 employees were affected by that action via pay cuts/layoffs/worthless stop options, etc.
I lost healthcare benefits promised to me in my retirement package.
All very painful but the airline has survived, come out of bankruptcy and is serving the public today. Let free markets work.


Stacey Koonce   December 3rd, 2008 9:48 pm ET

Dont really think a bail out will work. Dont you have to sell your inventory to keep from going bankrupt? If tax payer money goes to bail these companies out, does that mean that tax payers are considered partners and get a discount or do we keep paying these exagerated prices for an inferior product?


vanessa   December 3rd, 2008 9:48 pm ET

The only useful purpose that a bailout for the big three would do, (and only if it's followed to a 'T') is to retrain current workers, hire new workers and build alternative fuel vehicles that are affordable the middle class.


Michael Mahoney   December 3rd, 2008 9:48 pm ET

Michael Moore wants to spend billions keeping inefficient companies in business. Perhaps we should reward successful companies instead. Japanese companies are making cars in North America better than the big three can! There's a Toyota plant a few miles from my house, and the Subaru plant in Indiana (incedentally one of the greenest plants in the world) now makes Toyota Camrys! Can you imagine any of the big three being trusted to make Toyotas?

Michael Mahoney,
Guelph, Ontario, Canada


Jim Jarovski   December 3rd, 2008 9:48 pm ET

If Michael Moore's comment is correct that the total cost of the bailout could reach 8.3 trillion then that would be the equilvelent of giving each man, woman, and child in the country $27,500. Wouldn't that be a better way to bailout our country?


bobby   December 3rd, 2008 9:48 pm ET

larry go to coates engin.com this is the answer for the us auto industry they know about there just to lazy to chang


Jerry   December 3rd, 2008 9:48 pm ET

Why can Tesla, a privately funded company, build an electric car while the big 3 cannot, with or without a $34B boost? When will they understand the American public might but their product if they produced something worth buying?


Lorie Compton   December 3rd, 2008 9:48 pm ET

It would make more sense for the government of United States, and Canada to take the money for the bail out and buy poor people, who can not afford to buy a car, each a new car. This would create a boost in the Economy, create jobs, and get poor people a new car. It would also boost the auto industry. The country needs to help the poor people to keep thier homes, and transportation to get them to thier jobs.


tom albert   December 3rd, 2008 9:48 pm ET

why do you keep saying bailout and not bridge loan..?
do you realize the credit squeeze in the US.
GM is doing a better job. US 3 mo Treasuries now have a negative
yield so the govt makes a fortune on money lended.
Michael Moore is correct about mass transportation system.
The 3 people running the motor companies are all recent officers.
Things will change in 2010 re umion contracts. Lets give them some
time to get things turned around.


Arbie   December 3rd, 2008 9:48 pm ET

We need to bail out the auto companies (and Citibank as well) but, it should be done with very strict conditions including no layoffs, all perks for high-level execs (private jets, etc.), salary cuts for the upper echelons of the companies and in the case of Citibank, forget about payiing for stadium naming rights.

As incentive to adhere to the spirit and the letter of the conditions, the penalty for non-compliance MUST include prison terms not less than 5 years for anyone responsible AND the top level executives of the company as well as reparations to the taxpayers equal to double the profits earned since receiving the money.

Arbie


william bell   December 3rd, 2008 9:48 pm ET

LARRY, WHAT ROLE IS THE OIL COMPANIES PLAYING-AFTER ALL THERE PARTLY TO BLAME FOR THE RDICULOUIS PROFITS THAT CAUSE A HARDSHIP FOR THE LOW AND MIDDLE CLASS


Dora Smith   December 3rd, 2008 9:48 pm ET

Absolutely not. They brought this on themselves. We'd not only reward wrong behavior, but create the same kind of state supported economic inefficiency that ruined the Soviet Union. What is more, they specifically brought this on by making inefficient, gas guzzling, huge cars that noone wants to buy, by actively preventing development of cheaper modes of fueling cars, and by standing in the way of laws to require the kind of fuel efficiency and emissions standards that automobilie manufacturers overseas are making and that people in this country prefer to buy.

I'm unemployed, and I don't know what is going to happen, and the tought of a depression is scary. But this bailout will not truly help our workers nor our economy.

If we give them a bailout we absolutely have to insist on setting new standards of size of vehicles, energy efficiency and emissions.

I don't like the way discussion of restructuring the auto industry often focuses on destroying the unions, but on the other hand, I don't have health insurance, and I'll never make what auto workers make. I can't blame people who've expected to have health care in old age all their lives for expecting to keep it. But noone can always get their own way. Their wage scale is inflated and unfair, and I can't see people who can't even get health insurance being forced to fund the provision of auto insurance to retired auto workers. Instead we need to create a more effective way to provide health care in this country.


Steve Rochowiak   December 3rd, 2008 9:48 pm ET

I like Michael Moore and I like many of his ideas. However, how long and how much $$$ does it take to retool these factories for alternative manufacturing (i.e. trains, lightweight cars). There needs to be a serious restructuring with alot of oversight. There is no way we cannot assist them with loans without causing another "Great Depression" with the amount of people it will affect. And there definitely should be stipulations that they need to create more jobs, not eliminate more.


Matthew Weaver   December 3rd, 2008 9:48 pm ET

No, I do not support the bail out of the big 3 auto makers. These are private companies that should not assisted by the government in anyway, certainly not with tax payers money. These auto makers have put themselves in this position by producing low quality products that are over priced. It has been clear for many years that the foreign companies have been producing far more superior vehicles. The foreign vehicles look better, last longer, and are safer. There are private companies must survive on their own. It is simple business, produce a product that people want at an competitive price while keeping cost at a level that you can make a reasonable profit. If you can't do this than close down.


Sherrise   December 3rd, 2008 9:48 pm ET

I do not support the automotive company buyout. I feel the CEOs that were so greedy to send the jobs overseas in an effort to reduce cost and increase profit should be financially responsible for their selfish decisions.

The CEOs need to take they millions of dollars they profitted from the business, and put up all but $100K of their personal money, and do the best they can with the money they are able to come up with.
With the economy in shambles, people can't afford to even make their current car notes, let alone purchase new cars.

I have no remorse for the employees that are able to retain 85-86% of their salary and benefits, when there are people in GA that will only get a maximum of $330 week if they seek unemployment.

The result of the CEOs poor decision making is what has caused the problems they face, and it should not be every tax payers problem. I mean if a restaurant does poorly after being open for 2 years, do you think the owner can ask tax payers to bail them out? Filing bankruptcy, huh, not with the new laws and changes......!
MCI and Enron have made sure America never be sweet talked out of bankruptcy again, and Mr. Ebbers, he had to come out of his pocket with the money he fraudulently represented and stole...!!!

I support Micheal Moore on every topic prior to this but we can not make our focus on the loss of jobs. Detroit has been belly up since Motown began to decipiatate, then the sports teams were doing poorly, and let's not forget the introduction of crack..... COME ON THE AUTOMOTIVE INDUSTRY IS JUST ONE OF THE ADDITIONS!

I'd rather GIVE the money to America's Public Schools ! ! ! ! ! ! !
That way we can educate the children that will be one day be the leaders so they do not repeat the same selfish (intentional ) mistakes.


Stephanie   December 3rd, 2008 9:48 pm ET

Would you want to run a company where you had little to no control over those that work for you? We cannot just blame the executives in these companies, becuase the union contracts have bled these companies dry.

Let the government take control. Tell the workers if they want to keep their jobs, work for the company and not the unions!


Lynn Smith   December 3rd, 2008 9:48 pm ET

Hi Larry,

I do not think Michael Moore gets it! I sell cars for a Chevrolet dealership, we offer 4 cars that do 30+ miles to the gallon, we offer 2 Hybrids the Malibu and the Tahoe, we have a quality product, plus the new Camaro will soon be on are show room floors, which most of our allocation is already sold. We have the new Chevy Volt that is coming out in 2010. Think about being a CEO of just one of the big 3 for a moment, it would be mind boggling.


michelle deerfoot   December 3rd, 2008 9:48 pm ET

Good gravy Marie! Why doesn't the oil producing countries help bail out the auto makers? If you give the American people a chance to do the right thing, they will, and give till it hurts. Well it hurts. We have helped these oil producing nations. Let them help us now.


Don Hansen   December 3rd, 2008 9:48 pm ET

Absolutely not ! Let them file Chapter 11. Capitalism does work. Other private enterprise will step up and fill in the void. If the employees who have been making 70-80 bucks an hour and more daily, triple time on holidays, with full benefits etc... , haven't saved for a rainy day then shame on them. Let people fail, it will make them wiser the next time. Michael Jordan said " In my life I have failed over and over and over again,.... and that is why I succeed!"


ernie mann   December 3rd, 2008 9:48 pm ET

the ceos should have car pooled together in a toyota camry, a truly American made quality car. they had over 30 years to create fuel efficient autos since the first energy crisis in 1975. we still depend on asia for compact cars. pickens sc


DB   December 3rd, 2008 9:48 pm ET

Unfortunately , Yes but we must agree on their business plan moving forward. Any tax payer money being invested or given to banks or companies has to have accountability attached. I think everything that has happened recently has been a wakeup call on topics like energy and waste that has been goin on way to long.


Jerry Szrom   December 3rd, 2008 9:48 pm ET

Get the heads of Toyota, Honda and Hynday, make them an offer they can't refuse. Let them handle the bailout.


Tom Raleigh Troy, michigan   December 3rd, 2008 9:48 pm ET

Larry,
Please, The domestic auto makers are not asking for a bailout, that is what Wall Street and the banking community received. The correct term is loan.
Let us not for get that Congress has to take partial blame for the current state of the domestic auto business. They are the ones who imposed the CAFE standards years ago instead of continuing tariffs on imports. In addition, I don't have enough space to elaborate on the double standards congress has displayed in their handling of the true bailouts of the financial community.
Lets mention Senator Shelby, speaking of double standards. His generosity to foreign competitors is boundless. One shouldn't be surprised by his mis-guided perceptions of the domestic auto industry,
If in fact this loan request is not granted, America will see an economic devastation beyond the magnitude of the great depression.
Tom Raleigh
33year UAW member and proud GM employee


Kelli from Tampa   December 3rd, 2008 9:48 pm ET

Come help me start a Nurses Union- Michael!!


Bill   December 3rd, 2008 9:48 pm ET

Bail out the industry, but break up the companies. Let's make the broke 3 the competitive 9. Free markets don't work without real competition.


Frayda   December 3rd, 2008 9:48 pm ET

I don't think we should bail out any company. I think the American taxpayer should receive the bail out money. We will stimulate the economy. Buy furniture, appliances, stop a foreclosure, by homes, and yes, maybe even buy a car. Also, if the Big 3 do get the bailouts they are asking for, they said they will still have to lay off 30,000 people. I hope they don't plan to lay off American workers, lay off all the ones they have in other countries.


Joy Clark   December 3rd, 2008 9:48 pm ET

The Big Boys in Detroit do not deserve a bail-out!!! All the top brass should be fired and replaced by people who are listening to their customers.

Toyota, Nissan and Kia are not needing a bail-out from their governments.


WALT JARRELL   December 3rd, 2008 9:48 pm ET

THOSE THAT DO NOT SUPPORT THE BIG THREE WORKERS, REIREES, AND ALL OTHER GROUPS OF COMPANIES AND WORKERS TIED TO THE BIG THREE AUTO WILL BE IN THE SAME BOAT AS THOSE WHO DID NOT SUPPORT CLINTON ON THE HEALTH PLANS IN THE NINETIES. MANY OF THEM WISHED THEY HAD BECAUSE NOW THEY HAVE NO HEALTH CARE. LARRY YOU MAY BE OUT OF A JOB IF NO ONE CAN AFFORD A TV OR A NETWORK. .


Michelle Levesque   December 3rd, 2008 9:48 pm ET

Absolutely not! Why would tax payers support a company that has been operating under a bad , unprofitable business model for years.

I don't know of one successful business today that operates under this same formula- uncompetitive cars, large and powerful unions, not to mention the large pool of retirees draining their profits.

Dallas, TX


Nancy   December 3rd, 2008 9:48 pm ET

Absolutely not. Give me a break! They SHOULD go bankrupt. Bail out the loyal people who worked for the automakers all their lives. This is a perfect example of the greed and desperation (end justifies the means mentality) of this culture.


Dean Danos   December 3rd, 2008 9:48 pm ET

How did these co's get their jobs? They get huge amounts of money to run a business that should never run out of business. After all, we Americans have always had a love affair with our cars. And yet, these moguls have not shown the foresight that the car buyer needs to catch up to the 21st century. I say no bail-out.


Elaine, Victoria, TX   December 3rd, 2008 9:48 pm ET

The meaning of insanity – doing the same thing over and over and expecting different results. Bailing out anyone is what I've been taught as co-dependent behavior and nobody learns from their mistakes. Why are the car, Wall St, industries, etc any different?


Paul   December 3rd, 2008 9:48 pm ET

Alot of people fail to realize that alot more than 3 million jobs are on the line with this>There are factories that produce foam and other materials that go into these cars in the united states that will go under with the automakers the ripple effects will be huge.


George   December 3rd, 2008 9:48 pm ET

Automakers have a easy fix: bailout them, fire their current management and hire new management from Toyota, Honda, Nissan......
Isn't it that easy!!!

George T. from Portland


Manuel   December 3rd, 2008 9:48 pm ET

No, do not bail them out. Airlines always go through turmoil, go through bankruptcies et al, and they work it out. TWA vanished with thousands of employees, many others went through bankruptcy proceedings and survived. The same can and should happen with the auto makers.


Judi   December 3rd, 2008 9:48 pm ET

I don't want to see the country lose jobs or it's auto industry. But, I doubt if the Big Three go under that those jobs will disappear forever. Someone will buy them out and the other existing auto companies (Honda, Toyota, etc.) will make more cars here and hire the displaced workers, etc. Let the market forces work! Although making big cars has caused some of these problems, you can't just blame the audo company executives, when that's what people were buying and wanted to buy! The Union is to blame for a lot of this trouble too because they have protected jobs that should have been eliminated long ago and have kept the company costs too high.


Craig Sloss   December 3rd, 2008 9:48 pm ET

The 5% Solution:
Require all lenders, credit card companies, etc., to reduce rates to 5%. People can then pay mortgages, car loans, credit card bills, etc. Everything can be fixed without bailout money!


Diane Michaels   December 3rd, 2008 9:48 pm ET

Why should we bail our banks or insurance companies. I paid my mortgage monthly for 20 years and no one helped me, my home is no longer worth what it was just last year. I would like the government to give me the 45K I paid on my mortgagew. I have a husband with MS and can not even get him SSI cause our government says I make to much money, not even 40K per year.
So how come all these people can get money for nothing, and I am struggling daily to support a sick husband.


scott smith   December 3rd, 2008 9:48 pm ET

it's time we we go after corporate america and freeze their wrongful divendends and put them in jail!


Ann Taylor   December 3rd, 2008 9:48 pm ET

Michael Moore makes an interesting point but can we afford not to help the Big three? Until we can protect auto workers and the other 1 in 10 jobs connected to the industry... thats an investment i am willing to make. Also i think that its truly a shame that people dont have the same level of outrage against wallstreet which in a lot of ways is contributing to the overall economic downturn.


rease walsh   December 3rd, 2008 9:48 pm ET

I wouldn't be watching LK LIve except that I wanted to see MM. How can LK be SO RUDE to MM – saying" I get it" and " you are repeating yourself" Larry: learn some manners or get off the air.


master gumby   December 3rd, 2008 9:48 pm ET

oh those poor auto workers. making 25-30 $ hr. trying to save their jobs.WAKE UP...What jobs, the BIG 3 wants to lay 20k workers off after they get their bonus checks cashed...Please, send me some bucks...I lost my job...It will help me pay my mortgage..


Mike from Sterling Heights, MI   December 3rd, 2008 9:48 pm ET

Michael, I agree with your ideas that these corporate heads have not done well in the past, mainly Wagoner and Nardelli. But in the case of Ford, they have been on the path of restructuring for the past couple of years. This money is used as a bridge towards the future. The companies are working towards the future, all they need is a bit of government assistance. We seem not to ask a single question when it comes to the banks that have CONTINUED on their same path of corruption, but yet we throw billions at them. Its outrageous.


joseph   December 3rd, 2008 9:48 pm ET

i sure wish i didn't feel guilty for my dad making $34/hr for pushing a broom at ford, but i do


Steve   December 3rd, 2008 9:48 pm ET

Stop it already. Bailing out an industry that is in trouble because most American are choosing a competitors product simply does not make sense. It is a horrendous waste of taxpayer money.
The inferior cars/trucks etc. of the big 3 with their 'planned senescence' philosophy that drives them to make a product that simply isn't reliable after 5-7 years max simply doesn't measure up to the competitors who make cars that last.


Kathleen Conway   December 3rd, 2008 9:48 pm ET

NO, I do not support a bailout for the Big 3.

I think the current management should be removed, requirements the companies need enforced to be accountable and the plants need to be retooled for fuel-efficient cars. I blame management. We had gas lines in the 1970s and Toyota, Honda and other companies continued to gain market share. This is not rocket science to look at what was making them successful. I have great empathy for all of the workers and managers cannot eliminate another 30,000 workers with bailout money.
I agree with Michael Moore.


Don Couch   December 3rd, 2008 9:48 pm ET

How about instead of giving the Big 3 the money, give each US citizen a voucher for say $10,000 towards the price of a car. That way there is no money to account for and it forces the BIG 3 the build cars we all want and would buy.


Dodie from Irvine   December 3rd, 2008 9:48 pm ET

When will this end! Who will be next having their hand out stating if they close, many jobs will be lost? The Insurance Companies, the Drug companies, etc. Can I get on the band wagon? I come Cheap! I will only ask for 1 million dollars.

I do not support the bailout of automakers. I suggest we employ all those who lose their jobs to be retrained and repair our country which is very badly needed. All suppliers, we can pay for retooling for bridges, roads, dams, etc. I think we need a new paradigram in this country.


Redmond Hart   December 3rd, 2008 9:49 pm ET

The auto companies have too many problems to trust them with public money. After all, GM filled suit against against the U.S. Government and the American people for bombing their factories in Germany because they built trucks for the Nazi's. Let them roll the dice in the FREE MARKET and take their chances.


Sherena Michie   December 3rd, 2008 9:49 pm ET

I believe if the auto makers agrees with changing their vehicles to more fuel efficient and safer forms of transportation...the yes, of course because it will bring jobs and benefits to the American people and help us be more economically self sufficient. But if they do not want to follow the government's regulations, they should choose the route of bankruptcy and reorganize their industry without the help of the American taxpayers.


Larry Jones   December 3rd, 2008 9:49 pm ET

Mr Moore,

The US auto industry has done nothing in the US for decades, How about we give the profits of these companies to the employees, not the execs! And the same for the Financial industry and others we the tax payer are bailing out.

Thank you for your recent films touching injustice in America. Though we may not agree on several issues; I do appreciate your holding our nations leaders accountable. I am not a democrat or republican, though, I believe they both have their pros and cons...I am an independent. I even got my picture in the local paper with President Elect Obama, but I didn't vote for him.

I would really like to see a documentary on:

The financial backing in the Obama campaign as well as his true birth record.

The truth about the financial collapse in the world....including what banks have been hacked and what software they use (Microsoft)... Bill has made 100's of Billions of dollars on their crappy software ...now its a national threat...

Why isn't the truth being told???

Thank you for your time.

Larry Jones


Matti Shalev   December 3rd, 2008 9:49 pm ET

Why not use the "Bail Out" money to support laid off employees of the car manufacturing industry directly instead of giving it to the car companies?


mary   December 3rd, 2008 9:49 pm ET

why is no one talking about the fact that the big 3 have prepared for hydrogen fueled automobiles, yet the gov't has turned them down due to inefficient infrastructure? How is failed infrastructure the car companies fault. There is an efficient resolution that the big 3 has created, yet they are being blamed for the complete downfall. It's time the gov't speaks the truth and take some blame on this as well!


Richard Gillespie   December 3rd, 2008 9:49 pm ET

Absolutely not! Reward mismanagement, bad business plans and inflexible unions? They need to be forced into a pre-structured bankruptcy plan. The union agreements currently in effect place the bid three at a complete disadvantage to compete with other models being produced in the US.

There are too many redundancies in models. They chose high profit big vehicles over investing in fuel efficient ones. They are asking us to give them money yet they are not interested in becoming cost effective or model competitive. If Congress gives them money now they'll just be back for more later.

By the way, where do the bailouts stop anyway? Do we then bail out states, cities, counties and towns?


Dan   December 3rd, 2008 9:49 pm ET

Yes,but only if they do a house cleaning from the top on down.Oversight is a must,and offering the worker a piece of the Company would be a Great way to go. Dan engler


Debra   December 3rd, 2008 9:49 pm ET

Larry,

Unfortunately, the government has no choice but to bail out the big three. If they don't, there will be too many 'have nots' that will need welfare support and this system is under resourced to handle this influx.

The auto industry has been a corporate welfare system for years- the white and blue collar workers have been given more than ever earned or deserved. With the bailout there must be huge consessions from the top down. Also, a solid plan to build and sell a product that is dependable and addresses our current/future needs and resource availability is impariative. The big three MUST be held accountable for their actions from this point forward – they have not been in the past.

Debra
Holt, Michigan


Terri   December 3rd, 2008 9:49 pm ET

These companies could be thriving now had they been willing to change–smaller cars, alternantive energies–but they allowed themselves to become absolute–NO Bailout


nancy   December 3rd, 2008 9:49 pm ET

I think the American people should buy out these losers/CEO's of the auto makers and go into business for ourselves. We could use the profits to boost our social security.


Brian Askew   December 3rd, 2008 9:49 pm ET

Larry,

Michael Moore has no clue what damage he is doing to his home state and the to 1 out of every 10 working people in the U.S.. His comments about the Big 3 are way off base and bordering on outright lies! They do produce cars that people want! They do have almost half of the U.S. market! American workers do produce some of the best cars in the world. Michael, please get out out of the 1970's! If you took the time to sit in a Chevy Malibu you would change your mind! Please don't give people who know nothing so much air time! Thanks but no thanks Michael. Your stabbing in the back the very same people who right now need your help! Give a "LOAN" to main street, don't "BAIL OUT" Wall Street! he's going to sway the votes in Congress and then blame us for it!

Brian


Mike   December 3rd, 2008 9:49 pm ET

Bailouts should not occur in a capitalistic society. The market should dictate what happens, not special insterests. Whatever the rhetoric coming out this debate, I'm carefully watching the money. Where the money is coming from and where it's going are paramount to me. If the taxpayer is paying and not getting anything in return, that's a major problem for me.


RJ   December 3rd, 2008 9:49 pm ET

Where was Michael Moore's outrage and similar response to the bankrupt financial institutions' money laundering? The broken banks are "firing" more employees that the automakers are planning. Does Mr. Moore believe that if the government imposes mandates for the automakers to fix the entire transportation system – that is fair or even realistic? It seems like a significant change in scope. Without extreme cooperation, participation, and coordination from all elements of the value chain [energy suppliers, state, local, and federal governments, customers, academia, retailers, workers, suppliers] a plan of the magnitude suggested by Michael Moore is destined for colossal failure. It is obvious from this discussion that the United States are NOT united.


boris   December 3rd, 2008 9:49 pm ET

i am against the bailout for the auto industry because it seems to me that those CEO want to fool the public.
do they know about their situation before and didin't do anything?
The situation can't be that in just few weeks.
i propose that the CEO should be changed and they industry should be renewed.
i am 100% with micheal moore


Rob from Detroit   December 3rd, 2008 9:49 pm ET

A loan should and will go to the auto industry. Cars are one of the last things that are still made in America.

Michael Moore doesn't know what he is talking about. He says GM once even fought against putting blinkers in their cars. When was this? The 1940s?

Thankfully, the President-elect, the Speaker of the House, and the Senate Majority Leader all support this loan. Sorry Mike!


Robert, USA   December 3rd, 2008 9:49 pm ET

For the record though, I support the loans to the auto industry. And enough with blaming the workers. People are just drinking the kool-aid on this issue. For once and for all – the workers are not responsible for this crisis, period! Right again Michael Moore!

Congress should condition the loans on keeping jobs in the United States though. If they want to layoff workers, lay them off in Mexico. No more building vehicles there and "re-importing" them into the US.


Howard Kasper   December 3rd, 2008 9:49 pm ET

NO! None of the big three auto makers should get any more preference to this easy money than the average working person.
They have always been awash in money and only changed to make
their products better after the Japanese started kicking their respective
butts. Make them fly coach.
Besides, even if they get this money from the government, who will purchase their cars if everyone is out of work? Duh?

Sincerely,
Grumpy


Greg   December 3rd, 2008 9:49 pm ET

Let the oil companies bail the auto makers out. Their the ones getting the benifits from auto through gas and oil sales.


Kyle Goldman   December 3rd, 2008 9:49 pm ET

The government should use the money to insure GMAC and other car financial service loans if those companies choose to lend to consumers at a very low rate. This would allow for cheap financing so more people can buy cars and hopefully fix this problem from the revenue side.


REMY AMEDEEE   December 3rd, 2008 9:50 pm ET

I ABSOULUTLY DO NOT SUPPORT THE BAIL OUT FOR THE BIG THREE AUTO COMPANIES. ASK YOURSAELF THIS LARRY, WHAT IF THE THE UNITED STATES OIL COMPANIES WERE ASKING FOR A BAIL OUT AND WE WAS A COUNTRY WERE AT RISK OF NOT HAVING FUEL TO RUN OUR ECOMONY? WHAT THEN.......WOULD WE BAIL THEM OUT AFTER ALL THE MEDIA NEGATIVE COMMENTS DURING THE LAST POLITICAL CAMPAIGN?


William Cole   December 3rd, 2008 9:50 pm ET

The US should put the auto makers on a performance plan. Auto employees will have half of there compensation based on performance. It that way there have complete control over how much money they make. This should be done from the person that sweeps the floor to VP's and CEO's. If they work hard and built a good product, they will be rewarded.


Amanda from Santa Barbara, CA   December 3rd, 2008 9:50 pm ET

An auto worker is not middle class. The Unions and Michael Moore are kidding themselves if they believe they should be. Other manufacturers workers DO NOT make the wages the UNION demanded from the Big Three. The UNION has killed the US auto worker.


Acyn From Los ANgeles CA   December 3rd, 2008 9:50 pm ET

It seems like no matter the situation of the bailout we are discussing the same problem exists. The federal governement wants a group of corporation to proceed with a policy in response to an emergency situation and the minute they issue this policy, these companies do exactly the opposite in their own self interests, come crying back to the government and ask for more money to repeat the same cycle. If the federal government wants policy implemented for instance in the bank scenario rather then them hoarde the money... Nationalize it! The greedy banker stereotype reinforces the notion that banking is the sleaziest part of capitalism. As far as the car companys, I agree with michael moore... Im not a communist and quite the opposite but if they want to implement fast acting policy to deal with terrorism on a national security level... they need to treat the energy, car, and bank resources the same as they do with defense contractors. PS: Thanks michael for your effort and helping america get to where we are now(the positive part of where we are)


Joe   December 3rd, 2008 9:50 pm ET

Michael is wrong...the auto workers did not lead the way for the developement of the Middle Class...it was the Steelworkers and our government did not bail them out...they let them go under


Sarah Haworth   December 3rd, 2008 9:50 pm ET

Yes, but with different people running the companies. The automakers should be held to strict standards, designing and making transportation that benefits our civilization. Keep the jobs, keep the unions, but change the end product.


veet   December 3rd, 2008 9:50 pm ET

Ill bet the big 3 ceo's will have a MUCH BETTER Christmas than 99.9% of the rest of the world ! Larry do something about your dentures bud ! Get em tightened ! The faces you make on Camera are disturbing !


Raoul Duke   December 3rd, 2008 9:50 pm ET

My head automatically goes back to High School required reading.

We skipped the part in Animal Farm where all the animals are happy and we went right into the part where the pigs are wearing suits.

Orwell and Rand are going to be pissed.

We need to stop thinking we "need" anyone. We don't. We don't need all those banks who gambled and lost, we don't need auto companies who can't keep up with the trends.

We are trying to prevent our house of cards from collapsing by building it bigger, this will only cause a bigger fall when the fall happens.


Miles Bystrom   December 3rd, 2008 9:50 pm ET

Larry, I am scared about all of these bailouts. Now we are having problems in Canada because of the big 3. We need to find the executives of these companies accountable for their previous actions. They expect us to believe this problem just arose, they haven't made profits in years, why would they start now. No I don't support corporate bailouts, no one is going to help me out if I go bust.


Claude Lemmon   December 3rd, 2008 9:50 pm ET

I think all of our countries troubles started with NAFTA, We have corporation with their headquarter here in America while all of the jobs are elsewhere. No wonder our country is in such finacial problems. Get our jobs back in America where they belong. People will then have more money to spend to stimulate the economy. Free Trade doesn't work.


James Olson   December 3rd, 2008 9:50 pm ET

Michael Moore is right on target. I can't wait to jump on the light rail
from Honor and ride 20 miles to meet Michael for a coffee or sign-on letter that calls on the President and Congress to prohibit the use of a dime of "bail-out" money, and demand the conditions that responsibility establish and maintain the role of the auto companies and their stockholders for the next century. It's time the people of the United States brought these non-persons under control and treated them like the rest of us. Thank you Larry King and Michael Moore for airing this critical message.


Bob Cobb   December 3rd, 2008 9:50 pm ET

Yes, if they do it the way Michael Moore is suggesting. NO, if it’s more trickledown economics “The People on the Top Get Rich while the huge numbers of people who are actually responsible for making the product GET A TRICKLE”


Derek Hiser   December 3rd, 2008 9:50 pm ET

Larry, Any bail out of these company's will be an absolute insult to injury to the American People. Down here on Main Street, if I make bad decisions about how to manage my company, nobody is to blame but me, I would never expect nor ask for a bail out for what I had soul responsibility for. Shame on the idiots who expect me to pay for their bad decisions.


Kenny Vinson   December 3rd, 2008 9:50 pm ET

I'm a Southerner and the government didn't bail out the nation's largest employer (textiles) or the furniture business. The government basically said "let the free market determine it." I say let the free market determine whether or not Detroit makes cars anymore.


Lucy   December 3rd, 2008 9:50 pm ET

Michael Moore is an American treasure. His insight is right on.


john j cline   December 3rd, 2008 9:50 pm ET

why would any one want the auto company 's to go broke? everyone can sit on their high horse and judge the big 3, fact of the matter is , if you let them go broke you can kiss the middle class good-bye!


David   December 3rd, 2008 9:50 pm ET

Yes, I'm in favor of the bailout for the big 3. Look at all the billions of dollars that Washington Democrats and Republicans have flushed down the toilet!! They already spent billions of dollars that was suppose to help main street out and it seems like all that happened is it went to the crapper. President Bush and the Congress and the Senators should get paid according to their percentage of approval rating. If President Bush only has a 20% approval rating he should only get 20% of his annual pay. Same way with Congress and Senators. If they want auto workers to take concessions why isn't the rest of the high paid moneymakers forced to do the same such as doctors, lawyers, Wal-Marts, Postal Services, etc. etc.


Margaret   December 3rd, 2008 9:50 pm ET

I think that the CEOs of the big 3 should be fired as a condition of receiving our bailout money. They obviously have no understanding of how much "regular people" live and are now suffering. Worse, there is much evidence that they do not care. Driving to Washington is a pragmatic gesture, based in the amoral pragmatism that they have learned in school or on the job. We have many moral, intelligent business leaders who could figure out how to redirect our auto industry into making 21st Century cars and protect our workers.


roz   December 3rd, 2008 9:50 pm ET

I am for the bailout of the auto industry. But I disagree w. Mr. Moore. The auto industry is making more fuel efficient cars but not in the U.S,

Ford is coming out wl the hybrid Fusion & Milan but they are made in Mexico. Why doensn't congress repeal NAFTA and create more jobs in the U.S. especially if the tax payers have a financial stake. By creating more jobs, the government will recieve more tax dollars. Why aren't the car makers given tax breaks to keep jobs in the U.S.-n that would certainly cost less than the bailout dollars they're asking for.


Edward F. Krupp   December 3rd, 2008 9:50 pm ET

Leaders of the big 3 got greedy and lead the way for Union chiefs to follow suit and workers were told your either with us or against us. Many automobile makers have produced fossil fuel powered cars for decades after being warned of noxious fumes and dwindling supplies. Thier response was to ignore the greater good for greater profits. The technologies exist for hybrids and electric vehicles, yet focus belongs, in my opinion on the hydrogen vehicle as clean and renewable energy source with the end product being water vapor into the atmosphere. The water vapor becomes fog and rain to help remove the polutants from the air and return it to the ground to be dealt with through neutralization technologies. Hence an excellerated return to a clean planet free to rejuvenate its ozone layer and free us to find other ways to work against nature for selfish desires.


martha   December 3rd, 2008 9:50 pm ET

No, absolutely no. The industry needs to go go under a complete restructure and start investing in the future rather than keep building trucks that not only consume a lot of gasoline but killing the environment. Go for research – energy efficiency – and change the American culture.


Dave   December 3rd, 2008 9:50 pm ET

Larry,

I oppose the bailout, and Michael Moore's position. The simple fact is that the Union's have held our automobile manufacturing sector hostage, extorting ridiculous wages, and benefits, in return for shoddy work and products. Meanwhile foreign manufacturers are building better quality products IN THE US, mainly in southern states by non-unionized workers. The reality is that the Big 3 cant compete due to higher costs, driven by the UAW.


Sherrol in Canada   December 3rd, 2008 9:50 pm ET

I like Michael Moore's suggestion of the Gov't telling the auto makers to start building trains etc........

Bailing them out without strict supervision or 'demands' would be asinine.


Tim K   December 3rd, 2008 9:50 pm ET

I'm against the bailout and feel strongly those in charge should be fired for getting the companies into this mess. It's not just economy they ran companies into the ground and STILL didn't "get it" when questioned about flying into DC in corporate jets. Anyone who has the gaul to do that after asking for taxpayer money deserves to be fired.

As for banks: these are the same people who hold your funds for a week or even more – much longer than the law allows (1 to 3 days) claiming funds "haven't cleared yet" and who charge overdraft fees at the drop of a hat based on their holding your funds too long!!

There are MANY ways banks are taking advantage of all of us and we should not allow it. Bank CEOS should not only be fired, they should be in jail. Negligence is criminal at a certain point, for all of us. Also, we've lost sight of what the SEC is SUPPOSED to be doing, all while they buddy up with banks. The SEC is corrupt and until we fix that we are ALL doomed.


Jerry Szrom   December 3rd, 2008 9:50 pm ET

Get the heds of Toyota, Honda , make them anoffer they can't refuse. Let them handle the bailout


Richard Abineri   December 3rd, 2008 9:50 pm ET

If we are going to have a massive stimulus from the feds., how does spending these billions on the on the Auto industry compare to the effectiveness of other stimulus components, particularly if we can apply effective controls and maybe help the companies survive.


PAT FOY   December 3rd, 2008 9:50 pm ET

Why not lend the money we are talking about to a person or persons (not any of the ones in current power) who could take over these car plants and create a new company that makes environmentally and energy conscious vehicles. The current employees could be retrained thereby minimal job loss would occur!!! More money to these companies and those in command only means more of the same and we will be here again in no time...didn't we already do this with Chrysler? ENOUGH!

Pat Foy
Voorhees NJ


michael sanders   December 3rd, 2008 9:51 pm ET

Why not instead of a bailout give every american household a voucher for $25,000 dollars to buy a car from one of the big three. That would help the auto makers buy getting the cars sold and help the american people. Just giving them a ck will not get their inventory sold. They will be back in a few months wanting more.


JOHNNIE   December 3rd, 2008 9:51 pm ET

OF COURSE I, NOR ANYONE IN THEIR RIGHT MIND SUPPORTS THIS BAILOUT....BUT WHY NOT? WHAT'S A FEW BILLION ON TOP OF A FEW TRILLION? GLOBAL WARMINGS' A HOAX TO CORAL THE GULABLE. IT'S AMAZING TO ME THE TREE HUGGERS AND DOG LOVERS WHO HATE MICHEAL VICK ARE THE SAME ONES SUPPORTING SUCKING A HELPLESS CHILD'S BRAINS OUT!!! AMERICA THE NOT SO GREAT!!!


karen   December 3rd, 2008 9:51 pm ET

THE MONEY FLOWS UP FROM THE WORKING CLASS, NOT DOWN FROM THE RICH !!!!!..How True


Robert   December 3rd, 2008 9:51 pm ET

They do not deserve anymore of our dollars. It is putting good maoney after bad, they had 20 years to make a quality product. They will go bankrupt in 3-5 years and we will NEVER see our money again. This is only second worse then bailin gout the banks and insurance companies


Jan Stewart   December 3rd, 2008 9:51 pm ET

Not unless a plan is submitted to revamp and build hybrid or eco-friendly vehicles.

If the big three are given tax payer money, then I want collateral...What did Warren Buffet get for his $5 billion to the mortgage house? I want to see a return on my investment...I want to get stock certificates for my money.


Diana   December 3rd, 2008 9:51 pm ET

In regard to the Auto Workers Union, I own a small business. We can't afford to pay any employee for up to 2 years 90% of their pay when we lay them off. Michael Moore's support of this group is ridiculous. We can't compete today because of the UAW. Any of the concessions they have made along the way were about half of what they should have made. They had a place in time in history; but they are antiquated today and detrimental to the long term health of our businesses and industries.


Ricky Rutan   December 3rd, 2008 9:51 pm ET

Hi Larry, Here is my rescue plan for the Big 3, the automobile factory workers and CEOs are making too much money. They want us the taxpayers to bail them out? This is what they need to do, instead of making ($70 an hour) they need to take a cut. The CEOs need to take a paycut also. Start making realistic cars that working class people can afford. We don't need all those fancy gadgets. If the Big 3 would follow these simple steps they would save themselves hundreds of millions of dollars a year. And yes, it is just that simple. As a taxpayer, I do not think it is fair that the Big 3 and our government wants US to bail THEM out? We are the ones (the middle class oand lower income) that makes the economy survive, our government needs to give every household in America a minimum of $200,000 so that this way, we can pay off OUR bills which will allow us to have extra money to start buying again. Bail the American PEOPLE out and we will in turn bail the banks and auto makers out just by BUYING AMERICAN. Give me a call, I have a plan to help out the Big 3 and it is simple. (330) 853-8823


Wendy Flemming   December 3rd, 2008 9:51 pm ET

NO I do not agree with the bail packages of out of the big 3 auto makers, the banks, corporate America CEO's.
Americians have lead an arrogrant, glutten lifesytle for way to long.

The fall of America is caused by the over paid CEO's of corporate America and now middle class America is excpected to bail them out and let them continue skimming off the top. I say let them fall.

USA needs to use the bail out packages / money to up date and build their badly out dated, antiquated Americian cities, their infrastructures, their outdated mass transportation services, their wind power plants, solar industries, etc...thus putting Americian people to work for something that will benefit generations to come and that will move our cities and country forward into the 21 century. If Americian 's wern't so arrogrant over the years they would realize how far behind the rest of the world they have become. Investing in our Americain City infrastructures is a much better investment than the investment in the Auto Industry.
Wendy Flemming
PEI , CANADA


DAVID L   December 3rd, 2008 9:51 pm ET

Michael Moore is one hundred percent on target in his comments on bailing out the big three and their history of fighting the government over safety issues. I have generally disagreed with his politics and I am pleasantly surprised to hear what he has to say.


George   December 3rd, 2008 9:51 pm ET

A gallon of gasoline has only so much energy in it and is reduced further when diluted with Ethanol. You can't have it both ways, making a car safer by putting metal in it for protection AND at the same time demand it weigh less in order to require less energy to make it go.


Katie Kiyo   December 3rd, 2008 9:51 pm ET

The Big 3 need to reevaluate their marketing strategies and put more emphasis on family and home. They are all too focused on marketing to kids...and "cool"...which by the way, they are anything but. Until their products are in line, they should get back to marketing to their core, middle America.


Bob D of Morristown, NJ   December 3rd, 2008 9:51 pm ET

There's another issue to be considered, that of the credit markets, which collapsed when Lehman Brothes went bankrupt, and thousands of investors who bought trillions of dollars of Lehman securities (mostly commercial paper) were suddenly told they could not collect what was owed them.

If the automakers go bankrupt, their creditors will be in the same position, and the credit market will collapse so deeply, it may not recover for decades. By the way, this credit market is the one supermarkets use to borrow the funds they need to stock their shelves and pay the people who stock them.


rose   December 3rd, 2008 9:51 pm ET

Why can we give them the money BUT make it strict that they don't layoff workers and bring back jobs to the US and for the american people. Hey how about if the CEO's get a pay cut and maybe eliminate their fringe benefits? How much money do you think that would save?


Art   December 3rd, 2008 9:51 pm ET

For as much as i disagree with Michael More about other issues on this one tonight I agree with him 100%. We should put bright people to run these companies and firing more people is not acceptable if they borrow money from us. Quality of american cars is terrible and luck of using the newest techonoly is leaving the american auto industry behind europian and japanise competitors... Thats a shame...


Robert Kelliher   December 3rd, 2008 9:51 pm ET

Larry, how about we (the gov't) lend the auto workers the money to buy their respective companies. This would take care of the management and union issues. If the workers don't have enough faith in themselves then what is the point. I'm pro workers but don't care for the auto industry's union or management.


Poonam Bhardwaj   December 3rd, 2008 9:51 pm ET

There should not be any bail out for the big 3 auto makers. There should be buy out of these companies. The pay of all excecutives & union employees should be reduced to save money. There should not be any bonuses for at least 4 years.


Rita   December 3rd, 2008 9:51 pm ET

With all the requests for bailouts w/tax payer money when will Americans be able to request their own bailouts? With so many people out of jobs (myself uncluded) and using their credit cards to the max (myself included) just to pay their bills and buy the essentials and the credit card issuers raising rates to make it impossible to pay back the debt in a lifetime. There was a time when credit card issuers had a cap on their rates. What happened to that?


Sherri   December 3rd, 2008 9:51 pm ET

Larry – its hard to believe that people can be so cold – so many absolutely nots posted here. Do they not know that the over 3million people that would be able to keep their jobs with this relief – are also tax payers? – Taxpayers that are paying for banking bailouts – but are not able to bailout the company they work for? The middle class that pay the most taxes in this country. have a heart 🙂


Cindy   December 3rd, 2008 9:51 pm ET

NO, do not bail out the big three! I grew up in Michigan and my LAST american car blew an engine at 48,000 miles. The dealership said to me "too bad, GM knew about this problem". I was out a lot of money. I had/have family and friends working in those plants and the stories are unreal as to what really happens. Big Three Management has ignored the market trend and a faulty product. The Big Three thought Americans will always buy their cars. Guess Again Big Three!! Do Not Bail Them OUT!


Joe D. Ramirez   December 3rd, 2008 9:51 pm ET

Not in favor of bailout. If they do not change their attitudes about the out outrageous they all make. Automakers = high level and employees. All must take pay cuts. All must find better ways to build a better product.
Why must anyone wonder why Americans buy foreign products when the foreign product is better and cheaper!
Why must anyone wonder why jobs are going to other parts of this global world. No Guarantees in Life.


Toni   December 3rd, 2008 9:51 pm ET

Please, Please, please read this on the show. My husband seels chrysler, dodge and jeep vehicles for a living. I know that the big three shouldn't be handd over tons of money but we have to save peoples jobs for the sake of the economy and their families. As for masstransportation as Mr moore discussed, it will not be practical for all of the u.s. There are farmers and rual communities all over the u.s. that can't use mass transit like cities. Mr moore also seems to think the foreign car market is so great what does he think the reason Toyota sales fell 30% last month.


Viet Mai   December 3rd, 2008 9:51 pm ET

Big Oil companies have consistently set record profits in recent quarters. Shouldn't they play a part in aiding the Big 3 Auto Companies? Gas prices have dropped significantly since they peaked in the Summer. We were told this was because oil supply was low. Now that the Big 3 is in danger, gas is "cheap" all of a sudden? We seem to be ignoring Big Oil's role in this mess.


tim mcgrain   December 3rd, 2008 9:51 pm ET

I totally agree with Michael Moore. If we are going to give these companies money, then they must agree to retool and create green transportation. These products could be sold worldwide, and not only would this create jobs, but it would establish the US as a world leader in the manufacturing of earth friendly vehicles.


Lisa, Warren County, N.J.   December 3rd, 2008 9:51 pm ET

I knew someone who worked at a Chevy dealership, and told me to hold off on buying the van I wanted because the union did not get large enough increases, and the wheels were not properly attached by the unsatisfied workers. Do you really expect me to buy their cars?


mj miera   December 3rd, 2008 9:51 pm ET

ABSOLUTELY "NO!!!" GIVE THE MONEY TO EDUCATION, HEALTH CARE, STEM CELL RESEARCH!!! PLEASE!
IF, AGAINST SO MANY OF OUR WISHES, THEY GET THE MONEY, IT MUST, MUST, MUST HAVE THE PROVISIONS OF IMPROVING FUEL USAGE, HYBRIDS, ETC., WHICH, BY THE WAY, THEY'VE HAD FOR OVER 20 YEARS!
MJ MIERA, CORRALES, NEW MEXICO USA


narre   December 3rd, 2008 9:51 pm ET

Bail out or not a solution has to be found to aviod workers to lost their jobs.If the bail out is the anwers it has to be done in a different way and with more control that it has been done for Wall Street. Remenber AIG ...
I think also it 's time to think in mass transportations ,Europe can be an exemple:


Earl Schwartz   December 3rd, 2008 9:51 pm ET

I don't beleive a bailout will work,oversight or not. Who would be watching what these greedy CEO'S do? Get real they made the mess,let them resovle it.


Robert Miles   December 3rd, 2008 9:51 pm ET

Michael Moore, is so right on the money on this topic. If we do this bailout and we should put him in charge of the whole thing!!!!!!!!! Most people will do whatever the Big Three pay yes pay them to do not the right thing. Put a man of principle and integrety like Michael Moore in charge of every dime these companies get!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Thanks


STEPHEN in Canada   December 3rd, 2008 9:52 pm ET

You need to give Michael Moore more time on such an important topic if you want to address this issue properly!!!

Most of the details of his recomendations in his blog never got on the air anf they were worth hearing for those whgo don't bother going to his site or subscribing to his blog.

Why not have a roundtable with a union guy, a ceo a couple of consumers and Michael Moore?


DENNY ZIMMER   December 3rd, 2008 9:52 pm ET

YES, WE HAVE TO STRAIGHTEN OUT THESE COMPANIES THO,, MAINLY WE NEED JOBS..BOTTOM LINE.. NO QUESTION


Rob in oakville Canada   December 3rd, 2008 9:52 pm ET

Larry,
the issues facing the big 3 are not totally their own doings. a big problem that government neglects to address is unfair trade balance with foreign automakers dumping their products in NA and we can't sell there(korea, japan, china). Also, had the government not have de-regulated mortgages and created this financial mess back in 96' alla Greenspan. The economy as awhole would not be in this mess. The automotive industry is a pillar of our society that is part of the fabric of our economy that cannot be underscored. it creates millions of jobs, in the industry and spinoff jobs. not to mention the billions of tax dollars in revenue and descretionary income for middle class people. the term bailout is wrong, it should be aid or something else. lest we forget when Chrysler was in trouble in 79'-80' the government made a handsome profit when they Assisted them back then. lets stop all the rhetoric keep people working and stop losing market share to off shore imports. keep a healthy standard of living for middle class and stop trying to reduce the middle class to the lowest common denominator for wages and benefits, we should be trying to level the playing field for these developing countries not reducing or standards to match expoited workers in these countries. Yes I am an Autoworker and a union rep at Ford in Oakville Canada. thank you for getting people to talk about this incredibly important issue.


Carl Short   December 3rd, 2008 9:52 pm ET

let's get smart if we (govt) are going to invest money.in car;s. let the auto makers go bankrupt then invest by buying auto industry with 1/2 or less of bailout money, us as owners giving input and sharing benifets ve could notdo worse than thr BIG three


Ann Marie   December 3rd, 2008 9:52 pm ET

It's very important to provide loans to the auto industry – with tight restrictions. This is a huge nationwide industry affecting so many businesses. And let's re-read Ben Stein: The Auto Workers' Union is not responsible for the problems the "big three" are experiencing now.

Ann Marie


John   December 3rd, 2008 9:52 pm ET

What's the fuzz? $34 bln is nothing compared to the bank bailout


Janice Toms   December 3rd, 2008 9:52 pm ET

yes, I support the bridge loan. My question is why we talk about all 3 companies like they are one when Ford has done a lot more to try to correct it's problems. Also, I like their Focus and Fusion cars, are they not considered competitive? It is the trash talking of the good fuel efficient american made cars that is hurting them as well as the economy.


cnnrules   December 3rd, 2008 9:52 pm ET

Linda Lou – Colorado Springs – You are absolutely correct as well. The experience in buying a new car is horrible & not only that, the service & maintenace aspect of it is terrible, customers are taken for a ride.

When you go for an oil change or a service, you don't even get to what's been done to your car and then some one else shows up & goes thru a laundry list of fixes when your car doesn't need them. Scumbags!!
Most of the time the guy doesn't even know whats been done to your car. For example, he would advise to put new brakes while you just happen to have done that a week back. Crazy, money hungry monsters.


Steve   December 3rd, 2008 9:52 pm ET

Unions are out of date. I am self employed and have to pay for everything, health care, gas, everything, like most Americans. I don't want my tax dollars paying for 95 % of the union workers income when they get laid off. That makes no sense and it is not fare. How can the BIG THREE compete. Let the big three go under. Most Americans are tired of the union BS. $95 dollars an hour, WOW. See you later unions.


David   December 3rd, 2008 9:52 pm ET

The foreign automakers do not have to use the UAW. They are are employing the middle class to work in their factories. Those same non-union workers build what many claim are the best built cars in the country and do it for far less that the UAW does. I think you should have autoworkers from these other compaines on you show and get their input on how they can build cars and not hold a knoose around their company's neck.


Hassan Saleh   December 3rd, 2008 9:52 pm ET

Hello Larry, and fellow CNN viewers,

Not sure if my comments will make it on your show, but I thought I had something important to show.

The two big reasons the Big Three are failing are basically,

1) Greed of the Auto Workers, manufacturing simply should not compensate they way they are compensated

and

2) The strong dollar, not as much as it is now, but the dollar has always been strong, and this hurt the auto makers in the US and basically forced them to turn to SUVs

These are great companies that have had unfortunate times recently.

I support the bridge loan, it is NOT a bail out.


roberta stephens   December 3rd, 2008 9:52 pm ET

i support the bailout first fire the ceo's trim from the top give the employees more clout they can make better decision than most ofthe mangement


steve   December 3rd, 2008 9:52 pm ET

Ask michael when was the last time he used mass transportation and also when was the last time he flew in a private aircraft.


tim keding   December 3rd, 2008 9:52 pm ET

i am happy to see people are outraged at the bailout for any business, but that is not the only problem with this government, what about the illegals, stealing jobs from mine and your sons and daughters, no one is doing nothing about that either, and when i heard on the news last night that the lunch program is going to give free lunches to the low income people, their are more illegals in my kids school than citizens, why should my tax dollars pay anything for criminals not in jail, citizens go to jail for every little thing, illegals stand on my streets, drive cars without insurance or lisences to drive, and i can't say the word illegal at work, who also contracts illegals, buying gas driving around , getting in the way, clogging freeways, this infrastructure is not made for this amount of people, can i sue the government for spending my tax and ss money??,, signed very, pead off


jenny   December 3rd, 2008 9:52 pm ET

Michael Moore claims we need the UAW for the middle class. That's a joke. They are typically overpaid, and the requirements by the UAW (such as 80 percent pay even when the production from their plants isn't needed based on public demand) have strained the companies. Honda makes some of the best vehicles and not one plant in the US is a UAW plant. the average cost of the UAW worker vs Toyota is DOUBLE....So Michael tell me how the UAW is the best thing for the middle class? The UAW is going to bring down the automotive industry.


anne gardner   December 3rd, 2008 9:52 pm ET

Michael Moore,

Right on with your views on the middle class. America's greatness comes from the fact that we have one. Poor working conditions were ameliorated by the formation of unions. When times get tough, our corporate culture has outsourced jobs ad nauseum and kept the money for corporate leaders-adding layers and layers of middle management and assistants to assistants. All of our country should be working together to preserve our class system and we should be very concerned about how badly the middle class has been treated and the direction (downward) in which we are heading.


peter lasdowne   December 3rd, 2008 9:52 pm ET

i agree 100% with michael moore, on the big 3,, , otherwise if they dont change there thinking ,and build fuel efficient vehicles do not give them one dime, and downsize there complete lines of vehicles to something , a way smaller in names and varieties,, gm dosnt need dozens of different brand names , same goes for the other auto makers,


Marv from Wisconsin   December 3rd, 2008 9:52 pm ET

Let the big 3 struggle on there own. Their thinking is beyond repair. l would support partial loans to a new US corporations that would like to manufacture high gas mileage (hybrid) cars in this country. New factories with new ideas for the future. Toyota and Honda built new factories here and have found success.


Branden (Strom), Gretna, La.   December 3rd, 2008 9:52 pm ET

I have been saying the same exact thing that Michael has said tonight, the bailouts are necessary to save the middle-class working Americans, but the CEOs and COOs need to be held accountable and should be responsible for paying back the bailout money from their multi-million dollar personal accounts.

The truth is, the bailout money should go to Average working-class and TAXPAYING Americans FIRST and no matter what, the CEOs and COOs need to have their feet held to the fire. These bigshots have lived and profitted off of the workers and tax payers of this country for too long, NOW IT IS TIME FOR THEM TO PAY.


Laura   December 3rd, 2008 9:52 pm ET

Kelli from Tampa
I was ready to take issue with your blame of the UAW but I saw later that you took the CEO's to task as it should be. I believe Ford is selling 5 PRIVATE JETS to adjust their books! Whoa, what a brainstorm must have occured to come up with THAT ONE! Ya think? Next board meeting, sell out some of those executives absurd SALARIES, PERCS AND BONUSES!


EqualBranchesofGovernment   December 3rd, 2008 9:52 pm ET

Mr. Romney should put his money where his mouth is....if he is a true "capitalist" let his company Bain Capital.......buy them out!!.........No government bailout for poor management!!


Brent S   December 3rd, 2008 9:52 pm ET

Fuel efficient vehicles? The Chevy Cobalt XFE gets BEST IN CLASS FUEL ECONOMY IN THE COMPACT SEGMENT, 37 MPG. Thats better than Corolla and Civic. The 2008 Chevy Malibu was the North American Car of the Year, not the new Accord. What more does GM have to do? Build perfect cars?

Also, GM sold trucks and SUVs because AMERICANS WANTED THEM. Stop blaming them for building what we asked for. It takes more than a couple of years to completely turn your bottom line around from trucks to cars.


kevin B   December 3rd, 2008 9:52 pm ET

As usual, MIchael Moore is right. I do NOT agree with giving the Big 3 billions just so they can fire thousands. These FAT CATS at the top are the ones who need to lose jobs. Their lack of planning and foresight got us into this mess. They only wanted to makebig suv gas guzzlers for the rich.


Halleen   December 3rd, 2008 9:53 pm ET

Dividing the bailout amount of (1.5 trillion) by the American population of (300 million) will yield to 500,000 per individual.

So why this amount is is not given to the people instead.

Wouldn’t this help simulate the economy and preserve the market from crashing?


Darryl Price   December 3rd, 2008 9:53 pm ET

Why do we keep blaming the unions?! If the idiots who cringe at the thought of Single Payer healthcare would get on board, the Automakers and other U.S. businesses would be able to compete with Japa, Germany, France, Great Britain, etc ... Blathering idiots like Rush Limbaugh and Grover Norquist tell their minions that Universal Healthcare is a bad thing and without even an ounce of independent thinking they buy into it.

And by the way, when the Automakers were buying back stock, moving jobs overseas, and paying big dividends instead of committing Union contract givebacks to employee retirement healthcare like they promised we wouldn't we wouldn't be in this position. I'm tired of workers being made the heavy.


e witt   December 3rd, 2008 9:53 pm ET

I support the bridge loan for the Detroit 3.


Sophia   December 3rd, 2008 9:53 pm ET

No... Let the powers of the market prevail...Only this way will the US Auto industry finally be forced to conform to what the market requires... Why reward bad decisions with tax payer money and then use more tax payer money to monitor whether the industry uses that money to reform or to just continue with business as usual. Down with the greedy short sited, narrow minded capitalist who have always been in the pocket of Big Oil


Gigi Gerow   December 3rd, 2008 9:53 pm ET

No I do not support a bail out. I can't imagine that the money will last long enough to make any significant dent in the restructuring and reorganization that only a bankruptcy will force. I know it will be very painful for many many people and smaller businesses but I believe a bailout is just delaying the inevitable. I like some of Moore's suggestions: telling the automakers that they are going to manufacture light rail, etc but I don't know how practical that really is.


Dave Wilderman   December 3rd, 2008 9:53 pm ET

Pay the workers of GM the same worker to CEO ratio paid to Toyota workers and GM autoworkers will earn around $700,000 per year.

If Toyota can produce cars Americans want, why can GM not do the same?


jEFFREY Brown   December 3rd, 2008 9:53 pm ET

what wood japan do if there car co.run out of money


Leslie Dewar   December 3rd, 2008 9:53 pm ET

The Big 3 CEOs dug their own graves at the first hearing they travelled to in their private jets. Their arrogance and sense of entitlement along with their smug superiority was completely off the mark – just more evidence that they are not AT ALL in touch with the American consumers. They deserve to go down.

Leslie, Phoenix AZ


Chet   December 3rd, 2008 9:53 pm ET

Rich Getting Richer? Have you looked at what a auto worker makes?
First of all you can't get a job there unless you know someone.
You have to be somebody's son, daughter or brother in law to even get looked at for a job there. These folks make 28 to 45 bucks an hour. Someone getting out of High School now is lucky to make 10.
No, I don't feel sorry for them. They make alot of junk and they actually planned it that way.
Chet


David Gottcha   December 3rd, 2008 9:53 pm ET

If the USA can turn over TRILLIONS to the bankers, shysters and loan sharks who created this crisis, I'd have to say I'd support loaning the automakers $25 billion if they replaced their CEOs.

Now when it comes to Wall Street I'd support not just just replacing their incompetent corrupt CEOs but sending them straight to jail. It is outrageous that we're having this discussion about US companies while European companies are organizing to become American banks for the purpose of tapping into the TARP.

If Americans don't soon demand a government for the USA, by USA first officials we as a nation are headed into oblivion. Our government has been infiltrated by those whose interests do not lie with the USA.


Jim Marsden   December 3rd, 2008 9:53 pm ET

I believe that just letting the American auto industry die is the wrong approach, but they should only receive assistance if they are held to a migration to "green" vehicles. Not just so-called hybrids that are based on a primary propulsion using petroleum-based engines (making thing less "brown").

I think Jonathan Williams above stated it very eloquently that they should definitely be bailed out, but only if executive management and the senior designers are forced to focus on a green outcome or get out of the way so someone else can.

As much as I want to see America's car companies succeed, listening to someone like GM's current CEO stating that the issue is NOT with their line of cars, but entirely due to the economic downturn makes me want to walk away from any help. I went to the LA Auto show this past weekend and GM couldn't even muster up a single complete GM Volt to show their progress – just a chassis! Instead a majority of their floorspace was edicated to the new Camaro and the current Corvette. The executives there must think that throwing high performance gas guzzling vehicles at us will keep us happy! All we could think was "And you want us – the taxpayer – to bail you out so you can just throw good money after bad?" What a disappointment.

President-elect Obama wants a chance to move us toward green solutions. What better opportunity than to force the automakers to meet truly green outcomes in exchange for their bailout? If congress doesn't do something toward that goal here, then they will be throwing away a golden opportunity.

If American car companies can produce a truly effective green car, let me be the first in line to buy one!


Sherrise   December 3rd, 2008 9:53 pm ET

We need to insist on MADE IN AMERICA.

We have the resources to do and make our own products.

Africa is one of the most richest nations. This is because Africa imports as little as possible, being self sufficient.

It's not rocket science, it's just common sense!


Kennedy   December 3rd, 2008 9:53 pm ET

I think it is a double edged sword. I don't agree with a bail out, but if it is not done, there probably will be bankrucies. I have a huge problem with the big 3 asking for billions, but it does not seem that anybody in the CAW or UAW are willing to make any concessions. The CAW has publically stated they are not willing to. If EVERYBODY in the big 3 were willing to take a pay cut, then the companies would be able to become more marketable. I think that the November drop in sales is not just a result of the current economic state, but I think it is also the public's way of protesting there request. How can we be asked to pay huge amounts for North American built cars AND hold the burden of the tax load as well? Seems everybody is so aware of what the car companies want to protect their way of life, but what are they willing to do for the people who they are asking to be responsible for the burden. I've got an idea! Rather than handing over billions to the guys who are making millions, why don't we just as the governments to give every tax pay a $20,000 tax break.Then we can afford to buy their cars. Doesn't that help everybody?
Thank you


Ted Tretiak   December 3rd, 2008 9:53 pm ET

What is crazy is we will provide bail out for the finance companies which didn't get oversight, (*which should) but The car industry does need strick oversight with major restriction, I beleive Michael is correct in every way!! We need a major rederection, public trans and more energy efficient cars. in 1962 I had a client who had an experimental Plymouth that at that time got about 30 mpg where cars at that time got 12 mpg. He got it by mistake they bought it back for $10,000.00 and a new Plymouth. new Plymouth cost $3200.00 in 1962. What other secrets are they hidding from us.


Dianne, TX   December 3rd, 2008 9:53 pm ET

I agree with Michael. All these rich ceo's and their top managers keep getting richer and richer. If you cut them to a reasonable salary and number of exec's, not all their frat brothers and college friends from payroll, you save much more money than the average working union member. I keep hearing all these exec's keep talking about the union employee. How much is paid to retired exec's? Everyday Americans keep believing these rich people that it is the workers fault. Yet top exec's made the decisions, loss money, and took bonuses anyway.


B Dauria   December 3rd, 2008 9:53 pm ET

Better to word it this way. . .
What DO the auto workers make as wages?
And how does that compare to the average middle-class worker?

It would be good to squash the rumor on the air, if, in fact the auto workers make a more reasonable wage than the rumored $75.00 an hour.

This rumor might have us feeling less sympathetic than perhaps we should.


Judy   December 3rd, 2008 9:53 pm ET

I support the auto bailout if they pay every cent back to the American Tax Payer like Lee Iacoco did when he went before Congress to save Chryslet. .


Daniel Otto   December 3rd, 2008 9:53 pm ET

I'm from Nebraska and I would support the bailout if and only if the Big 3 carmakers would deduct $10,000 from each of their products for all time and begin making vehicles that are electric, solar powered or use alternative fuels. If they can get them out in 2-3 years as they have stated, then they have the knowledge to put them out this year. They need to stop lying to the American people about their capabilities! I have always bought American but I will be buying foreign made in the future. I agree with some of the other comments in the hope that the Honorable President Elect Obama is watching tonight.


Joyce   December 3rd, 2008 9:53 pm ET

This is a LOAN that is being requested, NOT a BAILOUT. The amount is small compared to that being shoveled out to Paulson's cronies,guilty of fraud.

We have little manufacturing left in thiscountry. Are we going to discard what little is left, that which was the "arsenal of democracy"?

Why aren't the banking and insurance CEOs being subjected to humiliating treatment and required to present plans in order to get help? I would point out the executives of AIG are not being given bonuses, but the night before Thanksgiving it was announced that the AIG execs would be given "retention" awards. When is a bonus not a bonus?
I am an auto industry retiree, part of the burdensome legacy costs. I guess my contributions as a volunteer are worthless, and I should just find my ice floe and paddle out to sea.

I'd like to see Nancy Pelosi's compensation "re-configured" With friends like her, working people don't need enemies.


jay   December 3rd, 2008 9:53 pm ET

Bailout is a matter of complex balance. On one hand we want to help our fellow citizens whose jobs and lives are at risk, at the same time hate to see more executive payola like AIG.
I believe that a middle ground solution is possible.
1. Let Govt. provide a line of credit with a defined one time limit.
2. Govt. should take equity stake in the companies.
3. Govt. should not run the companies however – but should act like an activist investor.
4. Govt. should fire the existing management, board and union leadership.
5. Govt. should invite open competitive bid for turn-around proposals.
6. Down select best proposals based on merit.
7. Union has to accept one of the selected proposals – otherwise Govt. should walk out (no blame to Govt. in that case).
8. Based on the selected plan, Govt. should appoint new independent board and management
9. Govt. should transfer control to new board and management and should not intervene.
10. Govt. should monitor performance (like an investor) and fire board/management if they fail to perform.
11. If board and management are successful, they take the companies back to public only after paying back tax payers’ money.
It may succeed or fail, but will nevertheless achieve a few goals:
a. Govt. not blamed for inaction.
b. Won’t be responsible for another AIG bailout.
c. Even if it fails, people will get time for gradual transition.
d. Impact on economy will be spread over time.
e. If it’s successful, tax payers get their money back.


Fred McClaren   December 3rd, 2008 9:53 pm ET

Unions have their problems, but I was in management for over 20 years and I can tell you that the pay level of our union shop and warehouse workers was the standard we used for setting the salaries of our office employees.

People seem to love to tell stories about the overpaid union worker who sits around all day and does nothing, but the fact is it is a myth. Men suffered and died to gain collective bargaining rights and one generation pissed it away ...

It isn't just a coincidence that loss of union jobs has resulted in a corresponding reduction in hourly wages. Those working harder and longer today for less than a living wage should keep this in mind.


Gerard Huvaere   December 3rd, 2008 9:53 pm ET

Are the people of the Greatest Nation in the world really thinking about what it would mean when they make statements like "let them fail". Please let them know that in laymans terms, it will be the "trickle down effect", it will hurt every American when we let the American automakers fail. I hope these people all have generators at their homes because there won't even be any power companies or oil companies left either once there are no longer any cars or factories. Think about it!


John Gingrich   December 3rd, 2008 9:53 pm ET

Hi Larry & Michael –

I absolutely agree that taxpayer money should be used to finance a bailout of the big three as long as the appropriate strings are attached to ensure that the environmental and fuel efficiency objectives are acheived and that a deal is structured in such a way that taxpayer investors are protected and are allowed to participate in the upside potential. The US auto industry is not a natural outgrowth of free market capitalism, but it is necessary for national security reasons. The US must have a large scale domestic manufacturing capability in the case of a global conflict and therefore it is an asset that must be protected by the US government. The auto industry simply cannot compete on an equal footing to our foreign competitors if production is located in the US, so some form of government subsidy will always be necessary. No management can make this situation work without government support.


Shawn Williams   December 3rd, 2008 9:54 pm ET

No. I do not support the bail out. I think they need to be taught a lesson, perhaps they might manage their finances a little better after having endured a real hard ship . I do feel for the little people who perhaps will suffer in the event this bail doesn't pass.


Regina from Kalamazoo   December 3rd, 2008 9:54 pm ET

I am from Michigan and although not directly linked to the auto industry, their failure will cost us all. I think that we need more regulation and control of the auto industry and how they conduct business. More fuel efficient cars at affordable prices are paramount!


June Greig   December 3rd, 2008 9:54 pm ET

Michael Moore is right. The workers need and deserve the support, but the companies always fight what is right and try to push what they want on the public. Former President Jimmy Carter forced them to improve mileage on their cars years ago, but they stopped after he left office. They need a complete overhaul in management.


Joshua Davidson   December 3rd, 2008 9:54 pm ET

Without demeaning the long-ago accomplishements of the UAW, it is clear that they have become an unbearable burden upon the domestic auto industry. Michael Moore's wistful idea that we should bail out the automakers only to save the jobs of current workers is short-sighted. These companies need to be comptetitve in the long term.


Karen L. Stalie   December 3rd, 2008 9:54 pm ET

Dear Larry King,

I think we should bail out the people who will loose their jobs,retirement etc. and let the car companies go. Then when someone with a real plan for the type of cars we need in todays world steps up we loan THEM the start up money with the plan that they hire all the people layed off from the car industries that have gone belly up!
Thank You and Bless You
Karen


Ellen   December 3rd, 2008 9:54 pm ET

We, the American public, have been hypnotized and plundered by fat cats and greed filled financial organizations–auto, wall street, real estate, ... It is time the nation at all levels–stop such and carefully look at the WHOLE picture of our country and what needs are of priority. We desperately need reasonable financial stability with appropriate guidelines, health care, education, environment, jobs...–for all members of this society. Quit the excuses–we are a smarter nation then what we presently look like.

My hope is that we will rise to meet the challenges with genuine integrity. Thank you Larry King for helping to give us a voice.


Kelli from Tampa   December 3rd, 2008 9:54 pm ET

I will never forget the 86 Camaro I had...$200 a month car payment and $500 repair bill EVERY MONTH...left me on the side of the road every single month I had it...anyone want me to go through the rest of my list of experiences owning an American car? Poor quality...sorry auto industry. The old saying Found On Road Dead (FORD) I can tell you stories abourt those vehicles I have owned too. My Toyotas and Subaru's have lasted forever and NEVER left me on the side of the road.


David Thomson   December 3rd, 2008 9:54 pm ET

1) Why are those of us making $26/hr bailing out those making $65/hr ?
2) Why do we expect the Auto Industry to be more responsible with our money than they were with their money?


Lucy   December 3rd, 2008 9:54 pm ET

Quite truly, the problem is raw capitalism.


Peter Smith   December 3rd, 2008 9:54 pm ET

Michael Moore is right, the management of the big three car makers are idiots. For several years they seem to have been in competition amongst themselves to create bigger and uglier gas guzzlers without thought to the requirements of the American public or consideration of the global demand for smaller, greener, fuel efficient cars.

Let them all file for chapter 11. Then we shall see if they are capable of making the right decisions.


Rick Covington   December 3rd, 2008 9:54 pm ET

Short and sweet ... No. Electric Vehicles (EVs) need to be the new de facto standard. Building infrastructure for mass rail (bullet trains) makes the ultimate sense for future jobs. Time is money, why drive when you can ride a high speed rail between major cities? New thinking ... not the redundant automaker philosophy.


Linda Lou - Colorado Springs   December 3rd, 2008 9:54 pm ET

Everyone seems to be forgetting about the job cuts and plants that will be closed and we haven't heard one word from the manufacturer execs about what jobs and plants will be lost overseas!!!!! Come on, somebody bring this to the forefront . . .


Arthur   December 3rd, 2008 9:54 pm ET

The American auto industry must de-unionize as part of any attempt to recover financially.

I read somewhere that a UAW worker costs their employer something on the order of $73 to $75 per hour (wages, benefits and pension, etc). Their counterpart working for Honda down south costs something like $45. There is an undeniable role these cost of employees (and "job banks"!!!) have in the financial woes of the big 3.

I appreciate that people need to secure their retirement. However, I went to college and grad school and will be worse shape than union workers.

"Why go to college when you can work union and live like you did".


Gerry   December 3rd, 2008 9:54 pm ET

The best idea is to let the Big Three build electric bicycles, we can eliminate laziness, pollution, gas, heart attacks, and a lot of high paid idiots,


Jeri   December 3rd, 2008 9:54 pm ET

No bailout. It is time for The Big Three to realize that their day has come and gone. Who is going to be buying these cars in the let's say the next year? I am thinking used cars may be the NEW wave here.


Vinodh   December 3rd, 2008 9:54 pm ET

I do supported it provided the Big 3s unveil their future plan that has great potential to build and generate more jobs and efficient vehicles.


Nicole   December 3rd, 2008 9:54 pm ET

YES!!!!! I dont know how any American could not want to help out one of the only things still made in America! We as Americans need to support our country and all the people that work for it.


Don   December 3rd, 2008 9:54 pm ET

Also if thay wan't their customers back from the foreign markets,make sure they promise their customers they will never be responsible for and engine goof up/failure at the customers expense -ever !!! An engine powertrain/ transmission package that is backed up no matter what the manufature screwed up on. ie GM 3100 and 3400 intake gaskets as an example of one of the failure problems that exist with millions of GM vehicles.


Vikram Singh   December 3rd, 2008 9:54 pm ET

Larry

We have to bail out the auto companies because they are a very big part of the economy. However, I would like someone (Senator or house member) should ask all the three auto executives that if their plans for their companies are good to make a go of these companies, then these auto executives should be made to lend 30 % of their net worth to their companies. This will ensure the validity check of their business plans and truthfulness.
Thanks


Robert   December 3rd, 2008 9:54 pm ET

The uinion's are theive's too, don't let them kid you. If the auto makers need to change a simple process the union has to be sued to make adjustments. They don't want to cooperate with the production. All they want is their insurance and pensions. I am a small business man all I do is pay taxes and I have NOTHING unless I provide for myself.


william Suggs   December 3rd, 2008 9:54 pm ET

I do not support a tax payers buy out because it goes against everything thing this country stands for regarding good business. They have failed to stay up with the times ans failed to negotiate equitable contracts with the unions for the work being accomplished. We did not bail out the textile industry and thousands of people lost jobs to coutries overseas doin the same work for less. Why should we promulgate failed practices from ceos making salaries around 21 million when they have failed to demonstrate efiiciency and competition in todays market.


Steve   December 3rd, 2008 9:54 pm ET

Absolutely yes – the government needs to bridge the automakers over the economic chasm created by the banks and real estate speculators. The car companies provide so many jobs and so much tax revenue that the collapse is absolutely unthinkable. Who do you want to own all the advanced technology that is going to build our more efficient transportation future... USA or Japan, China, etc. The auto industry is the biggest R&D spender by far. Japan already has significant cornering of the advanced battery industry. We can't achieve energy independence if we don't own any of the intellectual property requied to build this new future. The Detroit 3 still be 1 out of every 2 cars sold today. They do build cars people want.


Diane Jacobs   December 3rd, 2008 9:55 pm ET

First of all I oppose the bailout for he Auto Makers.

We need autos and we need to take care of the employees of the impacted companies but giving them money is not the answer. Toyota has been kicking their butt for 2-5 years and they did nothing to improve. Ford already builds nice small energy efficient cars overseas but does not sell them here, why not?

The C-level executives should take a $1 salary now... or resign. If we did our jobs this badly we would be fired!!! They should show they are willing to work to do the right thing!


Michelle Wandell [Conyers, Georgia]   December 3rd, 2008 9:55 pm ET

The problem with the bailout plan is that it's basically telling the automakers that it's okay to continue using materials on cars that essentially no one will buy. As is, few middle class Americans can afford a new automobile. Even before, a new car was a luxury that maybe a third or so of people could afford. But the fact that few of these cars are even doing much for the already deteriorating environment, only makes it worse.

It seems to be a complete contradiction to continue pumping money into a floundering company just so they can continue to waste money on a product that no one can essentially afford! Use the money for a company that means something to this country. Putting money into the big 3 just so people can maintain their jobs DESPITE it being virtually pointless. The only point it serves is to continue letting the company waste money, valuable materials and time that could be better served somewhere else since the cars will basically sit in car lots waiting for something that will be far away for everyone. And really, it doesn't a genius to understand that stupid that really is.

If the big 3 mean so much to the economy or whatever else that people claim, it should be able to recover when the rest of the country does without help, much in the same way that the average American already is doing. All the bailout would do is create a giant gold sink since the money will only serve to slow the decline of a company for a time, but it won't put off the inevitable.


Chuck McNulty   December 3rd, 2008 9:55 pm ET

The bail-out goes deeper than just the car manufacturer big three chiefs. There is no doubt that the car makers were propped by the oil industry to make car that drank GUZZLED gasoline. Though the idea of unions is fairy tale like, the union bosses that make this happen for the middle class Michael Moore speaks about, is really about lining their own pockets. Unions add more problems than they solve. /Sorry guys that you are only looking for the next week. This has to be a long term endeavor. I'm sorry for the problems, we are all suffering right along with you, but things will have to get worse before they get better. GET RID OF THE UNIONS find another management tool NOT UNIONS. I personally am sick and tired or needing 4 people to change a light bulb.


Chris   December 3rd, 2008 9:55 pm ET

Yes Absolutely. A loan yes a bailout no. No one is asking for bailout. Our government need to help just like Japan helps its industry. How do the think the ugly Prius hit the streets? The Japanese gov't. funded the R&D and offset the high cost of new technology so the vehicle could sell. US autos do not have this advantage.

Also, lose Moore he is living in the 70's still stating facts that are 30 years old. He is a bitter man. Just look at him.


Ed   December 3rd, 2008 9:55 pm ET

We extol the value of capitalism and free market enterprise around the world. The bailout is rewarding bad behavior. This is not right. It is tax payer money.


Brian O'Neil   December 3rd, 2008 9:55 pm ET

No bail out for auto industry. Allow the normal course of reorganization – Chapter 11. They have divisions that should be sold to better managers and new investors. Not hard to do. They should have done it long ago but as we all know they are not good at management.

Good cars are made in America by other firms. There is nothing wrong with them. Both Detroit and the Japanese and European factorties are run by firms with shareholders from the US and all over the world. The only reason for excluding – say Japanese firms – from government money for development of modern cars is pure racism. We just got rid of that and do not want to let it come back in by the back door.

The numbers of 3 million people all fired are at best stupid and at worst straightforward lies. The many good divisions of the big three will continue and their suppliers also do work for well run firms outside Detroit. There are a lot of divisions and suppliers who would do well. You would only miss the badly managed monsters. The ones that blackmail the country. Stand up to them and don't allow blackmail.

If you want government involvement then buy the companies and take control. Fire the "thousand clowns" and pay everyone government pay scales. Break them into manageable divisions, sell them after turn around and you will not have any one firm or small group large enough to blackmail you again.

Brian


Rick Spence   December 3rd, 2008 9:55 pm ET

GUILTY! GUILTY! GUILTY!
Americans are hurting the country badly by buying foreign auto's.
We need to build dependable auto's and turn the sales back to American workers, American Jobs. Yes, I am Guilty of buying Foreign. You won't have to look very far to find others.


Carol   December 3rd, 2008 9:55 pm ET

Just as we no longer use horse drawn carriages and many other outdated trades, it is time to let the auto companies with their incompetent mangement die a natural death as other companies have. No government bailout for any of them!


D.Butler   December 3rd, 2008 9:55 pm ET

Dear Larry and Micheal, Why not oust the current management and replace it with people who have been recruited from local colleges. These people are and have been studying our worlds of management, enviroment, and all types and methods of transportation. MIT is one university that has been studying this type of thing for as long as I can remember. Get some new blood in there. Then, start a reprogramming system for current workers and implement apprenticeship programs to help younger people get started. These 'new' plants would and should also expand their scopes to include other types of transportation. This will take a lot of investment money and I could definatly agree to that if this type of a plan were required and IF there is strict govt. control for (at the least), a limited time until the loan is paid back and the companies are solvent.


Tom   December 3rd, 2008 9:55 pm ET

I work for a auto supplier, and i do not approve of the UAW. Is it fair that when an UAW worker gets laid off they receive 95% of their pay where if i get laid off i get only unemployment. UAW needs to act fast and give up more than they have offered so far. If the bail out happens and UAW is not taking cuts we will be back in this situation very soon.


Bob   December 3rd, 2008 9:55 pm ET

As tough as it is to bail the big 3, can we afford not to bail them out? There should be very tough rules and every dollar must be accounted for. Let's bring Lee Iacoccoa out of retirement.


Jerrod   December 3rd, 2008 9:55 pm ET

A purging of these mismanaged, failing corporations is like the destruction of forest via fire–it seems bad and scary, but sometimes a purging is essential for regeneration.

If a corporation receives a bailout, then the CEO's (and others at the top of the golden corporate pyramid's) income should be reduced to that of the average worker until the bailout amount can be repaid. Why should we have to pay for their greed and mismanagement only to promote more of the same?


RJ   December 3rd, 2008 9:55 pm ET

YES I support it...ONLY with chain attachments. With the union in place, GM and other can never turn a profit with average workers making 55 to 70k yr....just can't do it period in times like this. Plus the cars they make aren't that great. Most of there cars get good miles to the gallon, etc. Its no the fuel consumption, it's because people are broke right now...period....no job=no money=no car. So, yes they have to be bailed out....3 million w/o jobs = 3million home loans going unpaid +3million credit cards going unpaid, on and on......

BAIL THEM OUT with HEAVY HEAVY chains and regulations by the government until they we the people feel they can make "COMMON SENSE" decision.

Thanks!!


Sherman Daniels   December 3rd, 2008 9:55 pm ET

AIG bailout? no no.
Insurance companies operate in a similar way to the big Gambling Casinos. They collect our money, they invest (gamble) it in some way and they try in many cases to avoid payouts. If the insurance companies are not doing very good then the are not (gambling) investing responsibly. Again let them solicit the bailout(LOAN) money from wealthy investors.
Call it bailout or loan and THEN let them solicit from wealthy investors AND answer to the investors.

seriously,
S. Daniels


luis   December 3rd, 2008 9:55 pm ET

if the companie get the bail out but is not a economy flow, but if the congress give me 100k in a boucher and i can pay my debts like my house, car loan then the bank can get money an d give loans to the companies they really need and the economy flow because if they give the money to them is not any profit on tha money but if give to the taxpayers then is a profit for every one ... is this a good idea o what...............................?


Angie from Ohio   December 3rd, 2008 9:55 pm ET

I work for a company that supplies the big three, I've been in these big 3 plants and I have one word . . . unbelievable! I've been in the automotive industry for the last 23 years and I can tell you it is unbelieveable to witness these employee's to stand around, lines go down and it is straight to the recliners, newspapers or playing cards in hand. What ever happened to a "hard days work for a hard days pay". If they all worked as hard as they complained, just think what would get done. One last comment, Michael Moore is wrong when he says these unions have given and given, come on Michael, what have they given ? It's only now that they are going to be forced to give because their numbers are dropping fast !!

My job is at risk and I am worried sick, but I don't agree for the bail out or loan. Get the right people in the right spots. Larry King is right when he asked the question "hasn't the current management failed"? You bet they have and they need to go. Trust me they won't loose any sleep they will use their wallets for pillows and sleep just fine. I ask you this . . .how much sleep have you lost in the last year??


james   December 3rd, 2008 9:55 pm ET

james from arkansas im a auto tech not under union i think the fat pockets for the president of the uaw is the same as the pockets for the big three ceos of corse they are for the bail out without the big the there is no need for the union


TakeALessoninBusiness   December 3rd, 2008 9:55 pm ET

Larry, I have great respect for you but why do you bring Michael Moore on to talk about something he doesn't understand – business. The automakers are plagued by cost issues and if they can't be profitable and innovate to compete, it's not 'wrong' that Americans demand that companies with business models that work win in our capitalistic society. Michael thinks you can wave a magic wand and create jobs and make money. He needs a course in business or to work in one to have the right to have an opinion worthy of a CNN national broadcast. Plus, he says to ditch the current management but doesn’t have a solution for who to replace them with. Not very helpful or intelligent. Larry, I respectively request that you bring more to the American people.


Pat Johnson   December 3rd, 2008 9:55 pm ET

U.S. Sen. Richard Shelby, R-Alabama, has emerged as the leading Senate critic of the proposed aid package for the Detroit auto industry. It’s pretty clear Shelby has nothing but disdain for Ford, GM, Chrysler and the United Auto Workers, not surprising considering he comes from a state with assembly plants for Mercedes-Benz, Honda and Hyundai. Shelby is in a key position on the Detroit rescue as senior Republican on the Senate Banking Committee.
Alabama offered $253 million incentive package to Mercedes. Additionally, the State also offered to train the workers, clear and improve the site, upgrade utilities, and buy 2,500 Mercedes Benz vehicles. All told, it is estimated that the incentive package totaled anywhere from $153,000 to $220,000 per created job. On top of all this, the State gave the foreign automaker a large parcel of land worth between $250 and $300 million, which was coincidentally how much the company expected to invest in building the plant


Ken Rayburn   December 3rd, 2008 9:56 pm ET

I like Michael Moore's basic philosophy. Let the big three compete for government mandated major transportation contracts.

Not with my money though. There is plenty of private venture capital to do the same thing if there is a viable plan. GM and Ford would not finance my car without good credit on a weak promise. Let em sink. Capitalism will prevail and some creative entrepreneur will fire the union and give the worker a better deal and make a better car.

I don't believe in nationalizing industry. Why doesn't anyone talk about what Lee Iacoca accomplished. A collateralized loan with draws geared to goals should be entertained by private banks and a government guarantee.


Bill L   December 3rd, 2008 9:56 pm ET

I do, provided there is new leadership. Ford said it will accelerate plans for hybrid gas-electric vehicles. Comments like these are made by a man who is desperate and uninformed.

There is no need to imitate Prius. Ford could NOTdo a better job of making a new type of Pruis anyway. What Ford could do however is make a duplicate of the 1998 Ford Contour using compressed natural gas auto. I own one and it gets double the milage that the same car gets on gasoline with very little pollution. Ford had it right 10 years ago.

Get some new leaders who have a vision. I think it is time they look at the real world and face the same problems every small businessman faces on a daily basis.


marvin   December 3rd, 2008 9:56 pm ET

when will the powers that are, start using common sense?

If control over how the money is used, is not present, Corp. Amer. will continue to abuse the free interprise system. Let the top "dogs" in the private sector as well a government rot. The unions need to get real as well. Most people in this country survive on $60,000 gross per year and we pay for all this cr_p. Wake up boys stop being so greedy.


Joe Kirby   December 3rd, 2008 9:56 pm ET

I am a GM and Chrysler dealer. I share the concerns of how much 'skin in the game' do any of the large corporate CEO's have?
When the small family owned "corporate" dealer needs a loan for floorplan or for facilities, the answer is always give us your business plan, and, no matter how good it is, a personal guarantee too. Every dealer in this country, almost without exception, has invested everything they have via personal guarantees, if their business fails, they're bankrupt. Tell the CEO's of Wall St AND the Auto Industry to sign a personal guarantee before loaning them the money. I know what would happen, you would not have to fire them, they would quit.


Paul Stokes   December 3rd, 2008 9:56 pm ET

I am for bailing them out; but, only on the condition that the companies maintain their original Union Contracts!!. Wake up you genration of money manipulating degenerates, THE ECONOMY IS FED BY A PROCESS OF OMOSIS! An a pox on those "Me Too" Scabs that want equal pay and benefits that ohers have fought, bled and and been crippled to win!!
Captain Paul Stokes A Union Mans Since being Honorablly Discharged from the Last Legitimate War for Defense of our Nation.


Tom   December 3rd, 2008 9:56 pm ET

Maybe we should be given tax breaks if we buy U.S. made products.Or we should have voted in ROSS.


Michelle M. LaMont   December 3rd, 2008 9:56 pm ET

Hi Larry,

I do believe that the government should bail out the auto industry.

I am from Dearborn, Michigan who ended up moving to Canada because my father was transfered for Ford Motor Company. I believe that the big three are where they are because of the benefits of working for a large manufacturing company. It is my understanding that these companies, especially GM pay almost as much as the Ontario gov't in health care benefits. They are really in the Health care business not the car business. The Korean, Japanese, and other Asian companies do not have the same numbers of employees on the dole for benefits in the United States.

I believe Michael Moore speaks out of both sides of his mouth.

We do need to help these companies because for every 1 GM job there are 7 related jobs that will go down the tube. We all need to re-think what we do ESPECIALLY the unions!!
I hope that there is some help for the car companies.

Michelle M. LaMont


Leticia Guerra   December 3rd, 2008 9:56 pm ET

Hello Larry:

I am 100% in agreement with what Michael Moore position in regards to the 3- bailouts. It is curious , I was reading LaDonna's comment prior to you making mention to it on air.

The real problem, greed. Mediocre to poor management decisions, promotions, etc. Now what? Letting more people go is not the solution. Proper Management, Integrity, Honesty, Morals, ie., in Businesses are not being excercised. As upper management gets retired or moved up or out, ask why is this person being moved up instead of out when they cannot seem to take care of the areas intended.

Most employees are demoralized. Close monitoring and more transparency needed.

I agree with Michael Moore's responses. Thank You.


Brent Franklin   December 3rd, 2008 9:56 pm ET

Nice to see you have 3 mouthbreathing auto workers. Not only are they undereducated and overpaid, but their lifestyle also contributes to the mess the health care system is in: smoking, drinking and no exercise. Why don't the younger ones go back to school and get a nursing degree or become doctors. Then they can at least get back to contributed to society. Unions were fine in 1950, but they have no place in today's world. My father was in a union for 35 years and the only thing it did for him was roll back his wages and make the union leaders rich!


Laura   December 3rd, 2008 9:56 pm ET

GM workers,

DO YOU KNOW WHAT I'M TOLD IF I ASK FOR A "HAND UP" IN ANY BANK ACROSS THIS COUNTRY???????????????????

Give me a break! You're not looking for a "hand up." You're just trying to take care of your self, at the expense of the rest of us! If GM made a car worth buying, at a price and interest rate anyone could afford, you would not be in this mess!


BARBARA FROM SAN CARLOS CALIF   December 3rd, 2008 9:56 pm ET

If these big CEO's of the auto industry would sell their many homes, cars, private jets and yachts – keep one house and maybe two cars and put all of this money (many millions I am sure) back into their companies – maybe then, just maybe the taxpayers would talk.
They are so greedy and so out of touch – just like our current administration and they should get the boot.


Chuck Giles   December 3rd, 2008 9:56 pm ET

We should bail out the car companies with limitations.
1. The government buyout should be a loan with restrictions.
2. One restriction is that the government has a majority say on the board of directors. In this position we can limit CEO salaries in accordance with profits. Also the government could set a new vision of the car companies.
3. Emphasis will be on car companies competing with foreign car companies and not against US car companies.
4. The US government should pass a law requiring only energy efficent cars to be sold in the US by...time.
5. Every US car company will be directed to make differnt vehicles..ie 1 makes sports cars, 1 makes vans, 1 makes trucks...as to not compete against each other but compete against foreign car makesrs.
6. US car companies will share technology.
7. Majority of cars and parts must be made in the US... keeping jobs in US.
8. CEOs will sell assets such as planes, vacation homes, property, and other assets.....as the government in on the board of directors we may even fire the non-productive CEOs.


Lindsey   December 3rd, 2008 9:56 pm ET

If there's any industry that deserves a loan-the car industry should be it. They offer good paying jobs, with healthcare and retirement plans..and has a history of actually repaying their loans..with interest!!!!


Sandra Lee   December 3rd, 2008 9:56 pm ET

There are foreign car manufactures building cars in the southwest US. They aren't asking for a bail-out. You haven't heard any requests from them. Why? Because they are operating without union laborers.

The $60.00++ dollars per hour that the UAW demands in pay including huge benefits has strongly contributed to GM's current problem.

It's about time that the UAW agreed to cutting their benefits or find themselves out of work.


Joan   December 3rd, 2008 9:56 pm ET

I need a bailout. I lost my job in August. Someone needs to hold the CEOs, CIOs, etc accountable. There is something seriously wrong with the heads of companies in the US – alot of greed and alot of corruption. It's catching up with them now and the average person is paying the price. So – we give them the money? Then, what?


catjones   December 3rd, 2008 9:56 pm ET

Mike is right!! These people already were given 25 billion dollars to revamp/develop alternative fuel cars and they haven't done jack!! However, we do have to bail them out. But with strict accountability standards, for both the auto and banking industries. The bailouts should be structured like a construction loan, if they are alloted funds and subsequently don't pass an inspection phase they should not get the next installment!!!

Also both industries should be required to stop all outsourcing of jobs while in the loan installment phase and for an stated number of years up to and during the repayment period.


ivan   December 3rd, 2008 9:56 pm ET

if i had a say in this matter i would deny them every cent of the money that they asked for. There vehicles are way over priced, and poor quality in fuel suffiency and in many ohter things. American vehicles are sorry in quality compared to foriegn vehicles.


zoey   December 3rd, 2008 9:56 pm ET

Absoulely not! These are private companies in which their greedy executives ran into the ground. The government should not have to play Santa Claus. As with any other company that has money problems file bankruptcy , fire all the executives that caused this problem and reorganize. People need to be held accountable and I don't see that happening in any of these bailouts.


RCross   December 3rd, 2008 9:57 pm ET

Government should help the automakers! If the big 3 would fall under the government is complaining about home foreclosures now, what would it be like if the autoworkers went out of business with 3 million workers. We have enough people in this country living off of government and state funding!! If they go under they better be ready to break out the Medicaid cards!!!!


Frayda   December 3rd, 2008 9:57 pm ET

Kevin, I don't know how old you are, but back in the 70's we had a gas shortage. At that time I started buying Toyota's. I was tired of the Big Three and their attitude, BUY OUR PIG CARS THAT FALL APART RIGHT AFTER THEIR USELESS WARRANTY RAN OUT. I would like to buy an American Made Car, if the whole car was made right here and not some other country only so the big muck-a-muck's and the stockholders can make more money. The cost and quality of the Big Three cars didn't get any less expensive or better made.


Paul Shealy Warner Robins,Ga   December 3rd, 2008 9:57 pm ET

We should support the big three auto bailout..Why Because we have already put 700 billion dollars to bailout the freddies and fannys and aigs with no stipulations,no checks and balances and it hasn;t change thier way of doing bussiness (thier thing) one bit ,and I understand about bailing them out because of the possibillity of millions of jjobs that could have been lost,Well the same goes for the big three,why scrutize them to death on what they are going to actually do with money when millons of americans jobs are at at stake and they are just as important for americanas the previous named companys. We loose the big three and America looses period.........


Pat san diego   December 3rd, 2008 9:57 pm ET

About 20 years ago Ross Perot wanted to serve this country as President.
I would now ask him to serve his country by running or over seeing the Big 3 with regard to any loan or bailout.
He once was a major stock holder and Board Member at GM. THey bought him out rather than listen to his ideas regarding waste in many areas and the the way they ran things.

Pat in San Diego


Ernest White   December 3rd, 2008 9:57 pm ET

If the big three are allowed to go bankrupt, I think the other auto companys, Toyota Nissan etal will take over the necessary production to supply the American market. The big three have consistently underestimated the needs of this planet to get off the oil program. I don't want my tax money used to bail out the excesses of the management of these companys. Spend the billions on retraining, really using our middle class skills and capabilities to work on such things as the infrastructrure, new toolling ,designing new products, and getting back to some more productive endeavors. Which companies are going to design,produce,and install the new wind turbines? GM, and Chrysler certainly have the in-house capabilities! I'm much in aggreement with most of Michael Moores ideas.


JT   December 3rd, 2008 9:57 pm ET

When is enough ? Enough . How many more bailouts must the taxpayer
payout . When our infrastructure crumbles ? The Big 3 should not be allowed to harness these funds , an example needs to be made before it is too late . People are steadily losing there jobs , there homes what makes the auto industry such an important topic . Bailout the taxpayers !


Joshua   December 3rd, 2008 9:57 pm ET

I think you are talking to people who are part of the problem.
Where else does a regular worker in a car factory make $74/hour, excluding overtime?
The UAW is definitely part of the problem, not just the stubborn management. Listen how they say that not much can be changed!


Kathy Abbasspour   December 3rd, 2008 9:57 pm ET

GM is asking for a bridge loan not a bail out. 3 million jobs nation-wide are at stake here. It is the collapse of the banking institutions that has undermined the Big 3 automakers. 1 out of 10 families depend on this loan to avoid another serious depression for all.


Bob   December 3rd, 2008 9:57 pm ET

As tough as it is to bail the big 3, can we afford not to bail them out? There should be very tough rules and every dollar must be accounted for. Let's bring Lee Iacoccoa out of retirement.


MonicaD   December 3rd, 2008 9:57 pm ET

Le the prices for vehicles come back down to reality and the workers pays get back to reality and forget the bonus money for CEO's.


Chris Falcon   December 3rd, 2008 9:57 pm ET

I agree with one of the above comments. Help people directly. And give money to the people who owe on their homes, forget paying the banks. Banks are corrupt and the people who work for them are brainwashed to think that holding people's money for almost a week is actually ok. In the old days paper checks went back and forth and that was the excuse back then – mail, delivery, etc. These days, it's all electronic and all the exchanges are done on the same day. There is NO excuse to hold a person's money at all. Should all be same day. It's another way we are allowing banks to take advantage of us. And we should stop it.
SEC wake up.


CNN.com Webmaster   December 3rd, 2008 9:57 pm ET

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janice   December 3rd, 2008 9:57 pm ET

NO ! GET RID OF UNIONS, CUT THERE PAY! HERE IN TENN,THEY DON'T HAVE UNIONS. PEOPLE ARE TAKING PAY CUTS &LAYING OFF. AND THEY DON'T EVEN COME CLOSE TO THE PAY THEY ARE IN THE NORTH !IN THE NORTH PEOPLE MAKE $28.00 OR MORE , THEY MAKE 2 TO3 THAN HERE IN THE SOUTH !!!!!


sheen   December 3rd, 2008 9:57 pm ET

All i am seeing is these Auto Makers nibbling few more billion dollars. If tax makers money can be risked for auto industry then better give to to other Auto companies who are doing better and ask them to increase there infrastucture and take over all the employees from these 3 auto-makers atleast we will have some chance of this money coming back.


Eric Staley   December 3rd, 2008 9:57 pm ET

Yes, the US government should provide the necessary loans to the auto industry. The comparison between the foreign auto companies and the US companies needs to have the facts laid out. The foreign governments have been subsidizing their companies for decades through technology and their own currency to allow the companies to remain viable. The plant that have been opened by the foreign companies in the southern stated have had huge tax breaks and incentives to build their plants there. Yes, these cars are built in the US, but the profits from the selling of these cars goes back to the home countries. The thought that the US car companies do not build the cars that people want is absurd. If people were not buying large trucks and SUVs, why have all the foreign car companies introduced the same style of vehicles in the US? In a capitalistic market, a company's goal is to make money and if people are buying the large vehicles that make more profit, why would they stop building them?

The current economic downturn has severely cut the available credit to buyers of cars. The US auto companies rely on sales to cover the daily costs of operation and without selling cars, they are losing money.

If congress can justify bailing out large financial institutions with no oversight, no scrutiny for their business plans, and to put money into the credit markets for consumers that these institutions are just sitting on, and holding lavish executive parties, why are they so reluctant to give a loan (not free bailout money) to an industry that plays a vital role in thousands of communities and millions of families around the country?

Let them go into bankruptcy? Would you buy a house from a contractor who was bankrupt?? NO. The same mentality would be in a potential car buyer when looking at a purchase from bankrupt car company.

If congress wants put up a smoke screen with a focus on executives flying to Washington on private jets, why don't they do the same since they work for a government that has a deficit of over a trillion dollars. Maybe the president should downgrade to first class as well.


David   December 3rd, 2008 9:57 pm ET

I sent in a previous comment regarding a Chapter 11 program involving pro rata shares in the three companies to the creditors and employees that lose money, etc.

I just wanted to add that the present business model of all three is flawed and the only sane way to "invest" money by way of a loan or otherwise is to fix the business model. Going through a Chapter 11 process involving trustees, the courts, etc. is the right way to move forward as painful as it may seem, but the business model should be fixed and ahve the ability to survive for the long term.

David
Toronto.


Acyn From Los ANgeles CA   December 3rd, 2008 9:57 pm ET

All i gotta add is why does everyone think bankruptcy means the end. We let the airlines fail all the times yet we dont act like that means that we have no more air travel.... Why cant they just do the same deal the Airlines do... and airlines are way more mismanaged and unprofitable even in good economies


sara   December 3rd, 2008 9:57 pm ET

The governorment should not give the money all at once but over time. That they have to met laws and rules that are set. One creating jobs and not laying off aveage workers. Just like someone apply for a grant their are rules to it. If they don't met it they do not get the money.
If they want a loan that tax payers make money off the loan like a bank. If they are bad risk then they do not get the money. Why not divide that money up give to each american then they tcan spend the money in their community. creating jobs and helping small business. Why do the big companies need to be bail out.. Maybe these oil companies who made record profits should bail them out.


Carol R   December 3rd, 2008 9:57 pm ET

How dare Nancy P and the rest of the gang question the bail out.
We wouldn't be in this mess if they had down their job with Country-wide-Fannie May and Fannie Mac. Why aren't the congressmen being investigated for what they did? How did they say everything was fine as the housing market sunk? Also how can anyone think that not drilling and using our oil is not a security risk????
Why don';t we first get a look at the Union books and what the heads
are making (and stealing) Do you really think all that money goes to the auto workers. Just like every other industry -the unions have pushed the costs over the top until the companies shut – down and move away. I think management in the auto companies and and unions needs to be changed -but WE MUST SAVE OUR AUTOMOBILE COMPANIES!!!


John Boyersmith   December 3rd, 2008 9:57 pm ET

Those who believe that they are exclusively in the right are generally those who achieve something.

were are the leaders out there?

if you would know the value of money go and try to barrow some
for he thatr goes a barrowing goes a sorriwing.


Tony Marchman   December 3rd, 2008 9:58 pm ET

I support the bailout due to the severity of the impact to the economy. Manufacturing is 17% of our economy, it is something that can't be wiped out, just like the banking sector. The Union needs to removed from the picture at these auto-plants, look at the Japanese and take note from what they are doing...

The union talks about productivity gains, how can you state that when workers still get paid when the line gets shut-down..? That is not how a company makes money.

We need to focus on the root causes and remove WASTE..


Ray Torino   December 3rd, 2008 9:58 pm ET

Something nobody has brought up.. I'm confused..They need all this money not to go under, but every year they continuously, and I'm talking about Ford racing, continuously give out millions of dollars in sponsorships. Why hasn't that been brought up? More to the point, next year in drag racing alone, they are even sponsoring more cars! and I'm not talking about thousands, I'm talking about millions! I guess the taxpayers should pay that too!


Leo   December 3rd, 2008 9:58 pm ET

How about gving the $34 billion to Toyota, Honda and others and have them build more cars in the U.S.A ? They seem to have the cars that everyone is buying anyway and mabey, just mabey, they know how to build them better and for profit. Just have the auto wokers punch thier time cards at a Toyota plant instead of GM.


Ananth   December 3rd, 2008 9:58 pm ET

the entire UAW leadership and members should watch the film, "the take", so they can think outside the bailout box.


Dave Wilderman   December 3rd, 2008 9:58 pm ET

One way to work towards solving this problem – look closely at Toyota, Honda and Nissan production facilities to determine why these companies have done so well.

I seldom hear the philosophy of Edwards Deming in this discussion. If old time management does not recognize worldclass marketing and production systems, the companies more likely cannot be saved.


Don   December 3rd, 2008 9:58 pm ET

The big 3 automakers have only made what Americans want; big cars and trucks, big engines, gas gusslers, etc. The American people have to think smaller, more MPG autos. The big 3 need to make smaller cheaper cars to compete with the imports or they will be out of business. The unions will help eliminate the auto industry in the U.S. Reduce big bosses and line worker salaries!


Anil Patel   December 3rd, 2008 9:58 pm ET

In my opinion, the Auto industry should look upon the cash rich Oil producing countries and Oil Companies for bail – outs because auto and oil are inter-twinned. The auto industry has made the Oil companies filthy rich. Without autos there would be no demand for oil. Therefore, the Oil Industry has a direct stake in the success of the auto industries around the world. They are the right source for auto industry bail outs.

The Goverments should bail out the General Public who have paid taxes, through their noses, over the years and should therefore bail out the public directly by refunding taxes.


dominick speziale   December 3rd, 2008 9:58 pm ET

if you want to bail them out have the government buy all their excess inventory. At a 25,000 average sticker thats 40 cars /million or 40,000/billion so for 34 billion hand over 1.2 million cars in their backlogged inventory and replace the entire government fleet with new cars . Scrap the old govt fleet so that you don't kill the used car market. This way we have value,the companies cllear their backlog, the dealers survive, the factories stay open,and they get a second chance by doing what they are supposed to–selling cars. A bailout-yes-but one where all get value as opposed to writing checks and praying.


Steve   December 3rd, 2008 9:58 pm ET

Congress has got it all wrong – again.
If any 'money' is to be given away, it should be given directly to the tax-payor. You want people to buy the products made by the big-3, then give a $10,000.00 rebate to anyone who buys a new car/truck made by the big-3 during the next 6 months.
That level of help starts at the level of the local dealers who are in the most trouble, and works it's way all the way up the chain.
A hand-up, not a handout.
It's not fair to the other carmakers but hey they will survive a short 6 month period.
Also, let the american people choose 'buy American' if they want; It will be far more effective that simply giving money away to the big-3 who consistently fail to make cars/trucks that people want to buy or keep, not to mention far cheaper.


Joanne Wetzel   December 3rd, 2008 9:58 pm ET

I am a widowed female, about to turn 76 yrs. old next month , retired from Chrysler after 20 years. My deceased husband was also retired from Chrysler after 39 years – he passed away in Sept. 2007. Between the two us we gave 59 years to the company. We retirees - ONLY post-age 65 retirees - lost all our medical coverage on 1-1-2007, and this past Spring we also lost our company-paid life insurance, which in my case I've had since 1954. I got a whopping $3,000! What do they have left to take - our pensions? There is no way I could survive without my pension, and a portion of my husband's retirement. I could not make it on my Social Security alone. It's not just the auto companies dying, but it would snowball to all the suppliers, vendors, steel mills, etc. and their companies. It is truly frightening for a woman my age!


Dick St. Louis   December 3rd, 2008 9:58 pm ET

Larry why do you continue to give moore an audience with his anit-american speal. He may make some valid points about the auto industry bailout but his anti capitalistic views are disgusting. Our Country was built on Capitalism and will survive on Capitalism. 232 years isnt a bad record of success. Let us hope and pray Obama has some restraint and sense how he approaches solving these serious problems.


lili francklyn   December 3rd, 2008 9:58 pm ET

We should bail out auto companies with a LOAN only on the following conditions:

1. They are prohibited from lobbying against fuel efficiency standards Maybe also prohibited from spending any money on lobbying in general? (Which has always been contrary to the policies that would have saved their business in the first place).
2. They should be required to invest in green/hybrid cars.
3. American taxpayers who are funding this bailout should get a clear financial benefit from this ie. stock in these companies. Maybe a seat on the Board?
4. CEO's and middle manager salary ratios (in proportion to workers) should be restricted; ban on bonuses for a certain period.
5. Why can't these companies build the same energy efficient, cool-looking cars here that they already build for Europeans? Don't worry I've lived there and I've seen this double standard.
The problem is not ther workers – and their health care -it's the management.


Terry   December 3rd, 2008 9:59 pm ET

Let the BIG 3 become employee owned and then the rebirth will happen. Let them Build Electric cars we have the tech now and it is proven, the news just keeps josteling it around. Build more nuke power plants on islands away from the mainland.


joseph Vanburn   December 3rd, 2008 9:59 pm ET

We believe in the free markets. The decisions and actions we make have positive and negative consequences that can benefit us or destroy us in the free markets. In the world for the fittest the ones that cannot adapt should perish. Let the those CEOs go to hell.


Chet   December 3rd, 2008 9:59 pm ET

Sorry, this isn't the old days. It is the new days. You have serious compitition. What have you done to compeat? Almost nothing.
Import cars outlast your vehicles 2 to 1. Oh, yep the military equipment can be imported also. Why not, everything else is.
Chet
Missouri


ken bell   December 3rd, 2008 9:59 pm ET

How does anyone expect car companies to compete with foreign carmakers when they all have national health and retirement programs and don't see these costs as our companies do. I blame the whole country for not supporting these programs making our industries competive.


Roger   December 3rd, 2008 9:59 pm ET

The US Government imposed a tax on Japanese motorcycles to help Harley-Davidson. Harley-Davidson came back. Do you see the big three recovering from another Government assistance?


BETTY   December 3rd, 2008 9:59 pm ET

I AGREE====GO TO MISSISSIPPI.
THOSE ARE THE PEOPLE THAT ARE STILL SUFFERING, BIG TIME


Jay   December 3rd, 2008 9:59 pm ET

Should something be done? Sure, but not at our expense. The problem I have Michael, is that there seems to be blame put on one party. This issue with the BIg Three goes back to the 1970's when the first gas crisis came about. The big three ignored the warning signs back then. Both parties are to blame. You have to force them to change. This is not my grandfather's GM. He is in his 90's and rather disgusted with what the union and GM has become. There is no way that someone should be making $48-$74 pe hour with benefits. THAT is the reason why they are in trouble. They are taking all of the money that is coming in, along with the bailout money to pay the retirement plans.


Ted Elam   December 3rd, 2008 9:59 pm ET

When do these bailouts stop? These problems have been coming for years, and companies have done nothing at all to prepare for these times. Companies will either survive or go away and die. For years these companies have taken and taken and have given us more expensive vehicles and lower gas economy then tech allows. In order to keep in business, some standards people (I) want are the following and I do not think this is so much to ask. First I want a car with decent fuel economy. I would love to see a car with 50-100 miles to a gallon of gas. Is this so much to ask? Now perhapse, but if companies REINVEST, then you gradually take the lead and hold the lead. Our countries car companies have gone from first rate to more of a third world company. These companies have constantly moved jobs over seas and have fought all service improvments in cars.

Also when you look at the car companies, the prices are way up, and the quality is way down. It is time that these companies either 1) go out of business, or 2) get sold/merged. Wouldn't these areas being hit be better served by building improvement and other projects that would secure the future of the country? How many jobs would a new refinary on the shores of the great lakes bring? How much would it help out to re-train these companies and look at their core values and force them to change by saying NO.

I don't know about many people, but I am mighty tired of the gimme gimme gimme attitude of these idiots. They have no morality and no ethics. The front people that we are looking at on TV are the workers and the front line people, not the multi millionairs sitting back drooling over their piece of pie. Time to say no. Many small companies are struggleing and yet they are not bailed out. Stuff happens time for them to move on and to suck it up and realize that we are no longer suckers.


warren   December 3rd, 2008 9:59 pm ET

I do! Only for the sake that the auto industry is our back bone and sadly we do need to throw them a life line. We could however give them money from part of the $750bil we already have commited to the faulty banking system. We know those funds are being spent unwisely, so why subject the tax payers to more shady spending; give them part of that and see how they spend it!


Margie from Chicago   December 3rd, 2008 9:59 pm ET

The top execs should take their hige salaries from the last eight years and use that to bail themselves out. Why should the taxpayers foot the bill for their mistakes.


Kim   December 3rd, 2008 9:59 pm ET

All the talk about bailing out the auto companies fails to recognize the problem of staying competitive. Our workers are getting paid the highest wages in the world and all the retired workers are receiving their benefits. With this situation there is no way these companies can stay competitive with the foreign companies. Our workers are the highest paid in the world but the product is the lowest quality. How can they compete? The bailout will only delay the inevitable collapse.


EqualBranchesofGovernment   December 3rd, 2008 9:59 pm ET

This argument is absolutely ridiculous.......Eastman Kodak....(EK) was getting "DESTROYED" by the digital camera onslaught............They didn't ask for a "handout".......they "ADAPTED" and are now competing in the digital camera market.................No taxpayer money!!


Smadar   December 3rd, 2008 9:59 pm ET

Why not allow the companies to fold and create a new one (or new ones) in collaboration with Japanese automakers. With their expertise and direction in producing safe and environmentally friendly cars and the force of the American auto workers, they might be able to create something far better than would be accomplished with the bailout.


Margie   December 3rd, 2008 9:59 pm ET

I'm an auto worker who was just informed today that after Friday, i no longer have a job to go to and will join the ever-growing population of the unemployed. I have a mortgage, car payment, insurance, etc. I am a single person with no other income. I've given 24 yrs.of my life to G.M and expected to reach 30. I've gotten up everyday and reported for work no matter what the weather and gave a quality job. I never gave a thought to how rich they became as long as I knew I would be taken care of at the end of my commitment. We, the middle class workers are the ones buying the cars, houses, putting the money back in the economy etc. What happens to me now? I'm terrified. We trusted they would do the right thing by us. America gave them their start and now what happens to all concerned especially our country.


Anna Lundberg   December 3rd, 2008 9:59 pm ET

I am against the auto industry bail out. They have been totally irresponsible for decades. They have been unpatriotic by helping our system to tank. They refused to respond to competition coming from other countries by improving their product. The free market is supposed to result in progress, better products, more economical products. Greed, stupidity and a lack of responsibility has resulted in this long time coming mess for the auto industry. I think this bail out money should be used to retrain auto workers to develop and produce in the various facets of green industry, including green transportation. This move would help our economy by putting the workers into jobs. Also auto industry executives should receive absolutely no tax payer money and be released from employment.


Peggy   December 3rd, 2008 9:59 pm ET

Would someone explain how can Michael Moore, a multimilllionaire, who has made his fortune by critizing everyone, be an expert on the auto industry. He is still living in the days of Roger Smith who doesn't work at GM anymore. UAW and GM work together now. They are being ridiculed but they have brought the US mfgrs back on par with any import in terms of quality, safety, and cost in ten short years. And did this with unfair trade pacts allowed by our government and used by importers & their govts to destroy our US car companies ability to compete on a level playing field.


Daniel   December 3rd, 2008 9:59 pm ET

I do not want the automaker to have an bailout or loan.I was an UAW member and the Union never helped me while my employment from 1984-2001.Other Americans with fresh willing minds will pick up where GM is not willing or can not do.I still can npt find employment today.I was at social sevices all day to day.


Derrick Danzy   December 3rd, 2008 9:59 pm ET

I agree with Michael on the conditions of the bail out, allowing the big three to fail wil have a trickle down effect that employees and small business suppliers could not stand. Being a small business owner, I realize that Washington will never fix this problem by allowing individuals who have never built a company from nothing, make the decisions that effect Common Americans. The fix for this problem is not lending, nor borrowing, but creating the ABILITY TO PAY and this survival plan is spelled out in a proposal I reviewed by (Community Trust) written by a team of small business owners who actually fuel the economy along with employees, not Publicly Traded Company CEOs and Politicians who earn off of this audience. The problem must be fix from the ground up, not top down.


Scott   December 3rd, 2008 9:59 pm ET

Has anyone ever heard of the movie; "Who Killed the ELECTRIC CAR"?
They should re-implement the EV1...

This bailout is absolutely ridiculously... If we are going to spend 34 BILLION dollars of our tax payers money, we want electric cars!!! Did you know that with the battery technology of today. We can produce electric vehicles of all types of SUV's and small cars, that would drive for 300 MILES on one charge!!!

Ask yourself... how far do I travel to work? Could I get to work and back in 300 miles? If you do... then an electric car would be good for you!

One last thing... Ask GM about the EV1 and I guarantee you that they will refuse to talk about it!!!

please Google "who killed the electric car" and watch the flash!


Ernie Evans   December 3rd, 2008 9:59 pm ET

Becouse I do not true them and believe to Greedy CEO"s, so do not just put the money in there hand.

Make them pay a monthly bill just like have too.

In there plan, they should include no more lay off and rehire back many of the people they lay off previously.

Monthly, they should submit a report to the White House, the Congress and the Departments of the Treasure, Labor and Commerce of their spendures and hire back.


don tomac   December 3rd, 2008 9:59 pm ET

hi larry, although we all love micheal as a social commentary kind of guy, he hasn't got a clue about what he had to say tonight.. the big three have screwed up bigtime regarding under estimating the "foreign element" and the impact of poorly negotiated labor bargaining, but haven't the people of the u.s.a. really underestimated competition right across the board. we can't make much on this side
of the ocean that they can't make overseas for less. protectionism is a bad word except when it comes to saving people's livelyhoods. later larry!


wendell   December 3rd, 2008 9:59 pm ET

No BAIL OUT !!!!...make it a loan like the rest of us get...make them pay it back......give the bail out money to the people who work everday to support this country....we can then pay our bills, put money in the bank, afford to retire and such......$ 100,000.00 for each tax payer who made less than $ 250,000.00...one check, tax free to get the economy going again.......


Christopher Modruson   December 3rd, 2008 9:59 pm ET

Grrreat show, Larry! Michael Morre is Right On The Money!!! Don't give 'em a dime until they get new people running the Auto Show. Mass Transit and "futuristic" efficiency is the way to go. STOP the 20,000+ worker layoff, and save American industry. BUT, how do we exert this greater Public Will in the face of all the Zillions of dollar$ at stake and the hand-in-glove tactics of "Business-as-Usual Republican econmics currently still in place?!?!?


john   December 3rd, 2008 10:00 pm ET

I've worked thirty years for General motors. In that span of time they have worked diligently to out source our work to other countries. They said it was too costly to build product line here in America. Yet when that same product came back across the border it was higher priced than when it went to these countries. When this happened I wondered "if all of us are fired who will buy their product lines." Today I saw where they just built a new factory in Russia for three million dollars. As A U.A.W worker I do not believe that we should give this company any more of ,whats left of them, benefits back . As Union men and women we need to band together, more than ever , to say enough is enough. today we give them our benefits back ,tomorrow our pensions and health care. Too bad we worked hard to see this sorry state of affairs.


Ed   December 3rd, 2008 10:00 pm ET

The big three were arrogant and now talking in humble tones. If they had their acts together they could have thrown the Japanese automakers out of the ring which are truly the reason for the 3 demise. They are arrogant and out of touch. Of course, there are working people who will be hurt but then this is the price we pay when we can't hold our leaders responsible for their actions.


John Ortiz   December 3rd, 2008 10:00 pm ET

I own a Chevrolet C6 Corvette. Before anyone in the US makes a comment about the sorry state of the product made by the US auto makers, I think you should look at the facts. Cars like the Corvette are superior to autos like the Porsche 911. All is not lost with the US auto industry.


Richard Davies   December 3rd, 2008 10:00 pm ET

What happened to thinking out of the box? Both bailout and bankruptcy have pluses and minuses. Let's think of something new that brings the pay scales into the competitive range of other auto manufacturers (Toyota) without resorting to bankruptcy and that supports the industry without a direct bailout


Eric   December 3rd, 2008 10:00 pm ET

For the bailout, i think if the taxpayers have to pitch in, unions should as well. We do not want to unions people. Have nothing against unions, but outdated pensions and benefits are a big part of the issue here. If they got those funds when the companies were doing good, they should pay a share when they are not.
Eric from Chicago


mike   December 3rd, 2008 10:00 pm ET

You hear a lot of bad about the auto industry, but as a former employee of a supplier to one of the Big 3 for 13 years. I have consulted on information technology for over 25 years. The auto industry far exceeds the use of of IT over industries such as goverment, health care, aerospace, electoronics, pharmactucials, etc.

We need the technology from this industry. Remember that the head of Ford & Chrysler aren't from the industry.


Sandra   December 3rd, 2008 10:00 pm ET

I would like for the CEO's to invest their own money into the company, to determine how truly they are interested in correcting there expenses.


Sharon Brown   December 3rd, 2008 10:00 pm ET

I think the oil companies should step up to the plate for the auto bailout. after all these gas gugling autos they have turned out has made the oil companies profit go off the charts...Sharon Brown


Edward Story   December 3rd, 2008 10:00 pm ET

The question for Michael Moore re trains and subways - all of which are great - is: who would buy them? What city? What state? The issue for a business like GM, Ford, Chrysler is: what do people want to buy? Frankly, people don't buy what Michael Moore (and others of us) would like to have on the road.

Larry, folks like Michael Moore who are ideological and repetitive try the audience's patience. If you're going to have him, challenge his assumptions! You've just rolled over for him. Some of what he says is so poorly thought out as to be an insult to the audience taking time to listen to your show.


Paulo Ungar   December 3rd, 2008 10:00 pm ET

Yes and very soon!! I don't know why the Govt is taking too long to help the automobile industry...much quicker they just did the following ABSURD BAILOUT with NO STRINGS ATTACHED:

The U.S. government (i.e., we taxpayers) have reached a deal whereby we will backstop something like $300-billion in screwed assets on Citi's balance sheet. ... Here is the gist:

Citi will carve out $300-billion in troubled assets, which will remain on its balance sheet
The first $37-$40-billion in losses on those assets will go to Citi
The next $5-billion in losses will hit Treasury
The next $10-billion in losses will go to the FDIC
Any more losses will go to the Fed
There will be no management changes at Citi, because, you know, they are all fine and upstanding people who have done nothing wrong
There will be some compensation limitations, but those have not yet been made clear
To be clear, this is not a "bad bank" model. Assets are not, apparently, being taken off the Citi balance sheet and put into another entity walled off from the Citi biological host. Instead, they are being left on the Citi balance sheet, but tagged and bagged for eventual disposal via taxpayers. ...

And Mr. Rubin is sitting on the board of Citi making millions and doing nothing – that's a BIG JOKE...

The auto industry is looking for 10% of what Citi got...and they employ directly and indirectly over 3 million people...


Sherri   December 3rd, 2008 10:00 pm ET

$95 an hour? dont think so ... new employess at gm make only $14.00 an hour. my husband is 22 year worker for gm – in skilled trades and almost $30.00 an hour...get real!


Larry Melvin   December 3rd, 2008 10:01 pm ET

I feel General Motors should file for either Chapter 11 or Chapter 13 bankruptcy. They are so mismanaged and the workers overpaid that a plan should include a major reduct of salaries and severance pay.

I understand GM workers get about 70 a hour and generally Toyota and othe foreign car workers receive about $40 a hour.. I FEL $1600 a week for 45 weeks to include some fringe benefits or orf $72,000 a year is a well above the poverty line.

Ford appears to have more competent management and their more reasonable request seemsOK with ome restrictions.

Chrysler should be somewhere between Ford and GM. Ass should cap executive salaries.


Amanda from Santa Barbara, CA   December 3rd, 2008 10:01 pm ET

I used to work for General Motors, and saw first hand the WASTE....and now,

I PROUDLY own a Toyota Pruis.


Jim M.   December 3rd, 2008 10:01 pm ET

Yes, but only as a part of a nation-wide program to build new and modern forms of public and private transportation. A "jobs" program that would include developing and building a modern nationwide electric railway system, electric cars, trucks, and trains, windmills in the wind corridor, solar collectors in our desert areas, and construction of a new electric power grid to accommodate the increased electricity generation and usage. By incorporating the Big 3 auto makers into the overall plan, we would not only be bailing them out but creating millions of jobs, addressing our country's energy needs, greatly reducing pollution and improving air quality, addressing our nation's critical public transportation needs. And while we are bailing out the Big 3 auto makers, we ought to include our airline industry in that same "conversion" plan. In order to "maximize" the plan, all of our major transportation related industries need to be included.


Norinne Norris   December 3rd, 2008 10:01 pm ET

No. No bailout for the auto industry; however, I do believe that a team of management personnel should go in to research and present a plan (directly paid by govt.) on how to go about using the industry's potantial contributions to the economy. GM or ... should go after the funds being allocated by alternative energy with R&D and manufacturing working toward creating transportation that does not effect the Earth. The attitudes toward manufacturing cars for its own sake needs to be changed and rewards given to those who can succeed in creating and implementing (plans for) ecologically friendly transporation. Bail funds should be put towards training auto workers and others in areas creating things that help us become a more comprehensive contributing and GREEN country!.

I think that if the auto industry can do this then great. However, at this time given that Toyota and Honda are the top selling auto companies in the U.S. we should assist them as the private sector has and not bail out losers.


Vinod   December 3rd, 2008 10:01 pm ET

I agree with Michael Moore. First, the companies should not be given a dime or a bailout since they have gouged the consumers over the years by producing vehicles which were not fuel efficient. Secondly, consumers never had a choice even when we do get some pathetic choice of a fuel efficient vehicle, the prices are so astronomical it is not economical to purchase a vehicle like this. Third, the biggest problem with the car companies is the financial burden of the retirees benefit package.


Angela   December 3rd, 2008 10:01 pm ET

No Bailout .

Major employers have closed downs without a bail out. We survived the Steel Mills, we can survive the Big 3.

Chicago examples:

The Union Stockyards closed in 1971 after 106 years of operation.

Wisconsin Steel closed in 1980.

US Steel Southworks closed in 1993.

Chicago, Illinois


Linda Lou - Colorado Springs   December 3rd, 2008 10:01 pm ET

If "they" aren't willing to cut back on "tax free" overseas operations let them get a portion of their loans from other countrys!


Amanda from Santa Barbara, CA   December 3rd, 2008 10:01 pm ET

Sherri,

$30 a hour for a manufacturing job!!!! Are you kidding me?


Laura   December 3rd, 2008 10:01 pm ET

It is so typical the mindset that if you just THROW MONEY at the top of a problem it will trickle down and the problem is magically fixed!

When will anyone realize that if you drop MONEY ON THE GROUND and let the paupers, who were former MIDDLE CLASS (i.e. BACKBONE OF THIS COUNTRY) use it to give themselves a "HAND UP" you'll see this economy recovery VERY, VERY QUICKLY!!!!!!!!!!!


Janice Divis   December 3rd, 2008 10:01 pm ET

We need to help the workers, not the Big 3 Automakers so first of all, I would use our country's chance to get for Healthcare reform. If the Automakers pay for healthcare for their worker and retirees, then the Government should. If the workers and retiree's pay for it, they should continue to but adopt the Governments insurance. Next, give the management 1 year to work for $1. If they turn their industry around they can stay, but they must agree to build only electric and hybrid cars, vans, SUV's, and sports cars. Body style should fall into these 3 categories. Then have them work on infrastructure of the county and mass transit, planes, trains (light rails) and buses. All electric and hybrid. Also create new jobs in infrastructure and have the government insure these workers.

then the


jon whaley   December 3rd, 2008 10:02 pm ET

THESE 3 GUYS ARE EXACTLY WHATS WRONG WITH THE AUTO INDUSTRY.

'WE CAN BUILD ANYTHING". SO CAN NON-UNION WORKERS AT PLANTS IN ALABAMA. SO CAN ROBOTS.

AND TO THINK THAT THE COUNTRY NEEDS GM AND FORD TO BE PART OF THE 'WHEEL" THAT DRIVES AMERICA. THINGS CHANGE GUYS!

MY GRANDPAPPY USED TO WORK AT A BUGGY WHIP FACTORY AND HE BUILT THE BEST BUGGY WHIPS EVER. BUT WE DONT RIDE BUGGIES ANYMORE! WE NEED NEW VEHICLES NOW. TODAY. YESTERDAY ACTUALLY!

THE BIG 3 BLEW IT AND ARE RUDDERLESS.

IF ANYTHING, THE TREASURY BUYS ALL OF THE STOCK OF GM, FORD AND CEREBUS' SHARE OF CHRYLSER. ALL FOR UNDER $7 BILLION. THEN WE LOAN $$$ TO OURSELVES, NOT A PUBLIC COMPANY.


Danny O'Donoghue   December 3rd, 2008 10:02 pm ET

It seems clear to me that the attention being given to the Auto Industry bailout is functioning as slight of hand drawing attention away from the much larger MASSES of money being given to Wall St. Companies without any requirements or oversight (save the 2 page application form).

Furthermore, I saw Bill Gates interviewed on CNN earlier today, and heard one CNN Commentator praise him for his refreshing lesson in "Economics 101". Rather than hear Bill Gates give his opinion on the failure of the auto industry, I would much rather have heard him questioned on transparency with his own use of Out-Sourced Labor and use of Non-American Citizens employed via Work Visas in his remaining US Corporations. Would HE be willing to HIRE AMERICAN LABOR AND PAY WAGES AND HEALTH BENEFITS associated with giving Americans jobs under our current crisis? Or will he continue his practice of outsourcing cheap labor and hiring highly educated foreigners via temporary visas TO AVOID PAYING AMERICAN LABOR. Given his practices, the only thing seemingly larger than his personal finance portfolio seems to be his gall and wormwood to comment on this issue.


Steve   December 3rd, 2008 10:02 pm ET

We must not bailout the auto industry. What we see happening before our eyes is part of a healthy business cycle. It is time for a new generation to step in and fill the shoes of the current workforce that has not gotten their acts together. This will be a devastating blow to many individuals, however, if you haven't set yourself up thus far and have been in the industry for over 20 years tough luck. Wallmart may be hiring!


Lourdes Ramirez   December 3rd, 2008 10:02 pm ET

I agree with the bailout if CEO's and all the Top management on this companies take the cut on their bonuses and their salaries and make a compromise on cut also on their spenses and luxury. If the country is in trouble we all should compromise, why not them?. We don't want another ENROM and if the companies don't make adjustments they are going to go bankrupt with or without the bailout. The goverment give the money and "WE THE PEOPLE" should be able to see a report where the money went the key on this is ACCOUNTABILITY with jail time to the Management if the don't use the funds properly.


Lucy   December 3rd, 2008 10:03 pm ET

Those who are opposed to labor need a decent labor strike. Management produces nothing. It is teamwork that builds products and creates innovation. Do not reverse the progress that labor has made. This is inhumane. Blame management, if you must,, but NOT labor. This from a manager who pitches in.


Denise Rutan   December 3rd, 2008 10:03 pm ET

I have only 2 things to say. Giving them (the Big 3) the money will not "bail them out" if "we the people" do not have money to buy the vehicles from them... Same with the banks. If "we the people" had the money "we the people" would be able to pay our mortgages on time and the banks would not need "bailed out" !


Robert Bor   December 3rd, 2008 10:03 pm ET

We need to provide for a bailout, but certainly the management and the unions must give up much of what they have.... heads should roll, good God if I were to fail and go to obtain a loan my bank would insist on changes in management.

In my current work, my employer has taken away many benefits as we struggle to stay afloat and employed, why then would the car makers and their be exempt. Htelp them yes, insist on extreme oversight YES!


Thomas   December 3rd, 2008 10:03 pm ET

Help me understand this.
We pay taxes
We buy cars / houses etc and pay intrest on the loans.
The bailout gives the car makers and the banks our tax money to stay afloat to sell us more cars / houses and charge us more intrest on our own money AGAIN.
Great job flying this country right in to the ground. Mis managed corporate, government and unioned BS has cost us dearly.

Gee – thanks for the resolution – I like to pay for my food going in and out by the pound.


Don   December 3rd, 2008 10:03 pm ET

Move the automakers to the south. We have several plants and we don't make anywhere near the hourly rate that the northern people make.


Raysha   December 3rd, 2008 10:03 pm ET

I'm not sure who will read this and honestly I believe my opinion, and the ones of everyone else, really aren't going to make much of a difference in the grand skeem of things.

As a active duty military member, I've only known military life for the last 9 years and as I transition back into the civilian sector I am utterly disgusted as to how our nation operates.

To answer the blog question: yes I do support the bail out. I cannot stomach that our society believes it is okay to allow thousands of middle class men and women to be without jobs for the sake of NOT bailing out the car companies while it's okay to support the ludacris sums of money athletes and actors are paid for doing what they like to do. The majority of Americans aren't blessed to be able to have a career that they love to do, and if so they DEFINITELY aren't given millions of dollars to do it. How is this okay?

A bail out would ultimately boost the morale of several thousand people in our blessed and free country. Allow these families to have a job, to have benefits, to thrive in this country that many foreigners would consider the land of opportunity. If the bail out doesn't take place, is America ready to have their tax paying dollars support the millions of dollars in welfare and unemployment that these former auto companies' employees are more than entitled to? With the state of Michigan already supporting over 40% of its population with some sort of welfare benefit, can the state survive without our tax paying hand out?


horace   December 3rd, 2008 10:03 pm ET

This is all but nothing more than poor management, these people need to get there act together and learn how to run there company. and that goes for the union also.


sulu demirpolat   December 3rd, 2008 10:03 pm ET

My concen is that most American cars require more to maintain and get less miles per gallon of gasoline. I have a smal dealership and what I observed that most people do not want to buy Amecian cars. For example: Toyota Corolla and Chevy Prizm are the same car. However, I put them side by side on the lot, but when prospective buyers see Chevy on the car they do not want buy it even though they come out of same factory.

The other day I buoght 2004 Saturn Ion to sell. It looked nice and small car even a little smaller than Corolla and Civic , thinking that it should get good gas miles. People interested in buying it complaint that it does not get a good gas miles as Corolla and Civic . When I checked the mileage rating it showed 29 mpg compared to 36 mpg for Corolla and Civic.

How the American car compies are going overcome the above problems. When George Bush lifted the higher mileage requirements after he got to the office he basically dug graves for American car companies.


Steve   December 3rd, 2008 10:03 pm ET

Those UNION people say that they are the only ones that can build cars and tanks. GOOD BY! GOOD BY! Unions. They say they are the only ones that can do it. I am so sick of hearing from those FAT union workers that go on strike if they don't get $100 an hour. GOOD BY!!!!!
Come down to earth. Everyone I talk to says the unions are the reason we are loosing jobs overseas. GOOD BY FAT UNION BOYS!!!!!!


Karen   December 3rd, 2008 10:03 pm ET

I do not agree with the bailout. Michael there is not much of a middle class anymore. It has become the rich and the working poor class. The middle class has been dying out for a long time now. Minimum wage is about $7 an hour and familes are expected to live on that these days. It is terrible with the cost of living and the amount of pay an employee is paid. Yet the union workers make $30 and hour and this is a part of why we pay so much for our automobiles we drive. Besides there is too much white collar workers getting way too much money. I could write a book on what I see happening all around us. And it is the american tax payers who suffer. No bailout for the big 3 and I live in the state of the big 3. I see what is happening every day.


Maya   December 3rd, 2008 10:03 pm ET

Absolutely not! We may be worn out by the last 8 years of Bush's anti-government governance, but that is not a reason and now is not the time to stop thinking. How does it go? Doing something the same way and expecting different results is the definition of insanity. Let them fail! They've been contributing directly and indirectly to the car, pollution, climate, and traffic death problems for decades. They failed to recognize the times and were driven purely by profit and greed. They thought the Hummer was a good idea! They fought pollution regulations, safety regulations, alternate fuels, clean-energy cars, public transportation, and only signed on when forced to. Giving them our tax dollars is just changing the baby's diapers.


Lorene Vance   December 3rd, 2008 10:04 pm ET

Michael Moore is RIGHT ON...Obama should appoint him as his new Secretary of Transportation.
As for the 20,00 workers the Big Three want to lay-off–Get rid of those CEO's instead.
After all the CEO;s could always get jobs at McDonald's or sell Rabbits on the Roadside of Detroit Highways (Ask Michael how that has worked out for the former auto workers who have been displaced in the last few decades)


Jason   December 3rd, 2008 10:04 pm ET

YES!! I support it FRom Oshawa,Ontario Canada!!!!!!


DANA   December 3rd, 2008 10:04 pm ET

SHAME ON THE MEDIA
SHAME on the Media for using the word BAIL-OUT for GM instead of LOAN with interest.
HOW STUPID THE 61% american people are not to have understood this problem.
SHAME
I FEEL sorry for the AUTO INdustry,,,,,,,,,,,,and the workers!


Amod   December 3rd, 2008 10:04 pm ET

I keep hearing this word invest in America by bailing out the the auto industry. What good is a company that is filled with greed for the past one decade making profit selling big cars. Anyway, they are 10 years behind in technology compared to Japanese companies and by the time they get to where the Japanese auto makers are right now the Big Three are still going to be ten years behind. Bail out plan is stupid. Instead the government should use the money to bail out college students and provide health care to all Americans and give the grants to colleges like MIT so we can develop technology that makes cars run 100 miles a gallon. Don't bail out the big three.


Kelli from Tampa   December 3rd, 2008 10:04 pm ET

This is a LOAN THAT THEY WILL NEVER BE ABLE TO PAY BACK folks. Anyone who thinks this bail out should go through is just handing them money and delaying the inevitable. The workers can go to college like I did. (and still do not make what auto workers make!)


Dora Smith   December 3rd, 2008 10:04 pm ET

Who is going to build the tanks if the auto industry goes under? Exactly why are we at war? As to the point, why do auto workers support U.S. participation in foreign wars. I cannot believe the arrogance of people who'd play on fears about security to save their jobs, but then it's hardly the first time I have had trouble believing these people.

You know, what stands out in my memory of every rust belt industry worker or former worker I knew in Buffalo, is their arrogance. This is an excellent example of why those people need to lose their jobs. They badly need to come down a few pegs.


Murray Muzzall   December 3rd, 2008 10:04 pm ET

Larry,

As a former airline employee I am offended by the arguments for the auto bailout. America as a whole did not raise a peep when numerous Major Airlines were forced into bankruptcy, with corresponding layoffs and pension reductions. Those restructed airlines are still flying and passengers are still riding. Why not the same for the Big Three? People will still buy American under Chaper 11. We can't afford any "sacred cows" in this current economy.


Michael   December 3rd, 2008 10:05 pm ET

would someone tell grandpa that there is a war going on and we have bullet's and tanks without help from the BIG 3.


Evelyn   December 3rd, 2008 10:05 pm ET

Larry – Has anyone given any thought to bailing out the American people with all the money they have lost in the market and their 401K's. If the government gave the american people back their loses instead of the automobile companies and the rest of the companies who will soon follow suit, they would know where the money would be going and most likely, the american people could then buy that car they wanted or the clothing they need or the deposit for the house they want to buy or the new washer or dryer, etc..... thus putting the money back into the economy and thus keeping these companies thriving. Giving the money to the large companies is like putting money into a dark hole and not knowing where the heck it is going.


Roger   December 3rd, 2008 10:05 pm ET

I'm all for another bailout. Look what happened when we did not rescue the whaling industry in the 1800s.


Sharon Transue   December 3rd, 2008 10:05 pm ET

I'm against the autobailout.
It's time the people who choose to live within there means are givin a break. It's the same old story. Those who live high and carefree seem to reap the rewards everytime. I want to know what the goverment did for the "steel" industry.
Where is my reward for working, paying my bills, and living within my means.
When the steel industry got tough, my husband lost his job. Who cared? We tightened our belts sought other employment and changed our lifestyle. Times were tough but no one offered us anything. Enough is enough


Adriel Ippolito   December 3rd, 2008 10:05 pm ET

No, I don't agree with the bailout of automakers as I didn't agree with the Wall St. bailout.

I agree with Michael Moore that we need innovative ideas that involve mass transit and less reliance on fossil fuels. Remember street cars?

Those CEO's went to Washington less prepared to give a presentation on their needs than any semi-competent middle manager in a corporation.

There's got to be a better way.


Patrick   December 3rd, 2008 10:05 pm ET

Seem like there a lot of misinformored people making comments with little knowledge (it is the UAW Kelli), misinfomation and misgivings about American made cars they owned 20 years ago. People agree with Micaheal Moore, do you know what you are agreeing to. He was suggesting we need to give the money, just not to the people that resisted the turn signal, again that was proably 50 years ago. Michael want's GM to make trains (public transportation), hybrid vehicles, yada yada yada. GM used to make trains (GM locomotive) and we make hybrids, lots of hybrids (yes GM doesn't get the green lovefest that Toyota gets for the Prius) Tahoes, Escalades, Malibu, and those really big things what are those called... buses. Hybrid buses, the same public transportation than Michael Moore was advicating. You could stick 20 fully loaded Priuses in one bus, now that is GREEN, real GREEN, not that Toyota green BS where the people drive a fuel effcicient car (look at me I am driving a hybrid see I care) and keep their 5000 square foot house a nice cool 60 degrees on the really hot days. People should be informed about the companies and the products in the context of the here and now. The ineternet is a powerful tool, it can allow one to make uninformed statements or allow people to be infomed. Some people need to do more of the later.


ReFramer   December 3rd, 2008 10:06 pm ET

Why are so many characterizing a social system legacy problem as an automotive energy technology and product competitiveness issue?
The most effective way for the government to extend a "rescue", would be to create an industrial policy environment with proper national, state, and local policies that create a more fair and more coordinated environment of competition.

BAIL-INS: In the past, it has been easy for local governments to subsidize building more manufacturing capacity only to cause a race to the "bottom" – all in the name of creating jobs. This is essentially the China phenomena. Because of the immense Chinese government-subsidized growth in manufacturing, the US will succumb with certainty. China likely has as many unemployed as the USA has working.
The absence of coherent national industrial and environmental policies leaves the USA with a “free market” that twists in the wind. These policies are not the responsibility of the automakers!

What is also absent in this discussion is the role of current energy industry. What is Exxon/Mobil doing to foster the next generation of energy supply? What changes are being made to stop the US government-backed oil industry subsidies?
Like other countries, the real opportunity is to allow US auto manufacturers to focus on creating the “new” industry instead fighting the legacy of social systems – labor, retirement, and healthcare. Governments, other than the US, appear to address social system legacy so that technology industries can focus on what they do best.


Beverly-Jean Pollard   December 3rd, 2008 10:06 pm ET

Michael Moore is absolutely corresct in his analysis of the problem within the auto industry. This effects the workers and economy more than the executives. They will be able to move on and live well with the money they have pocketted. It is very difficult for a 55 year old to start from the bottom, buy food, clothes and/or, God forbid, a car. It's not about the corporate heads. Why is everyone so upset at "working people". All people want to do is work, take care of their families and gracefully retire.
Warren, Ohio


Lucy   December 3rd, 2008 10:06 pm ET

Yes, destroy the unions and move to the south! Let's reduce the wages of the working class so that the owners may buy larger houses and yachts. Is this the kind of country you want?


Daniel White   December 3rd, 2008 10:06 pm ET

Yes give them the loan, but with strict oversite. The fallout would be terrible if they were to fail. People are going crazy over the $35 billion LOAN. Yet the banks are getting HUNDREDS of billions of dollars without any oversite, and people don't question that. Now CNN is showing the job loses for the last month. Wait to see the job loses if the Big 3 fail.

When Michael talks of the Big 3 as terrible companies it is not an endorsement to buy American. I think he is hurting the Big 3 and the American worker.

Citibank gets a bailout because they are "too big" to go under. Yet they are giving away trips and other promotions with rock stars after taking tax dollars, yet nothing is said about that by our lawmakers. And I'm sure the head of Citibank has a private jet.


Tami   December 3rd, 2008 10:06 pm ET

I don’t believe we should bail out any industry, financial, industrial or any other company. If we have allowed a company to become so big that we cannot function without them, shame on us. How do we fix it? Can we let them go under? Are there enough car makers in the US to take over their share of the business… I am sure there is, if not, there soon will be, this is America.

Nothing is easy, but life isn’t easy. Take a good look at our welfare system, does it work? We give money to those that think they need it, but most don’t. People become stagnant and dependant on welfare, will these companies be the same? I believe so; there are statistics that support this claim. If congress decides to bail them out, there best be oversight and policies on how they will work for the government to pay off their debt. Diversification of product is one way, become a nonprofit is another idea while they diversify their product line and pay back the government. Until the debt is paid back with interest, no profit should be turned into dividends. We need alternative solutions. We need people to lead, it isn’t hard to do what is right.


Dodie from Irvine   December 3rd, 2008 10:06 pm ET

TO JOANNE WETZEL!

I am a 61 year old who works for the local government. We have to pay over $600 a month for medical insurance. The government does NOT or has ever paid our Life insurance. I can not collect from Social Security because I work for the local government even though I paid into Social Security for 20 years. SO PLEASE QUIT CRYING! YOU DO NOT KNOW HOW GOOD YOU HAVE IT!!


Joe Kirby   December 3rd, 2008 10:06 pm ET

Whoa. Moore is dead wrong. The middle class is the result of the goverment laws regarding labor, not the union. I know you have him on just to get people like me 'fired up' and I fall for it every time.


Michael San Francisco   December 3rd, 2008 10:07 pm ET

Instead of a Big Three bail-out the government should engage in a Big Three buy-out. Shareholders could be paid in bearer-bonds. A temporary agency could be created to restructure the companies and devote some of the plants toward public transit needs. Other of the plants could be streamlined and geared toward greener, more sustainable, more market competitive vehicles. The restructured plants could, after a time, either be sold on Wall Street or permanently socialized and sell cars at a price that need not make a profit but only pay for the cost of making it, a la the U.S. Postal Service. The current upper management should be terminated and replaced without compensation- all of the other workers could, and should be kept on.
If we buy the companies, we will have total fiscal oversight.


Fred from Virginia   December 3rd, 2008 10:07 pm ET

There are about two dozen new, small auto companies in the US that are building next generation cars and working to innovate and lead the industry, rather than drag their feet. I would rather see them get the money rather than the big 3. A billion dollars would be a huge lifeline for them.


Carol Bowman   December 3rd, 2008 10:07 pm ET

Whether in the US or Canada, a worker who tightens bolts for GM, Ford or Chrysler should not get paid more than a worker who tightens bolts for Toyota, Nissan or Honda. Companies cannot be competitive if they have to pay excessive salaries. Once the UAW/CAW agrees to lower wages to those of other auto manufacturers, then talks about refinancing can begin. Tax dollars should not be used to support bloated union contracts when millions of other Americans and Canadians are losing their jobs as well – without the benefit of bailouts.


Alan Fitzell   December 3rd, 2008 10:07 pm ET

Out of the 700 billion given to the Banks in the US they should be given the opportunity to loan the Auto companies the money they need to keep in business, then they can make a profit and be able to pay back the government its money. This is assuming that the Auto companies are a good viable investment and if they are not then why should the tax payers foot the bill?


Dominic Facio   December 3rd, 2008 10:07 pm ET

NO WAY! This recession is bigger than these companies. They are the reason for this recession that we are currently in. Why would we bail out any company that has helped suppress american citizens that work just as hard as anyone else. I REFUSE to help these companies! They got us in this, let them get us out.


EqualBranchesofGovernment   December 3rd, 2008 10:07 pm ET

Before we give any federal money.....Let's see Mr. Romney put his money where his mouth is and have his company Bain Capital "takeover" one of the automakers if he is a true "capitalist".


Robin Gaudielle   December 3rd, 2008 10:08 pm ET

General Motors has a history of dismissing new technologies going back decades. My uncle, Worth Percival, worked for GM for years and was an expert on the Sterling Engine. They were only interested in the internal combustion engine. If they didn't like your ideas they sent you to Siberia. Their assembly line employees make more money per hour than most professionals. I have worked in the garment industry for 30 yeats, and witnessed the downword spiral in wages. It is not going to stop. I say let GM go.


Steven Corpus Christi, Texas, United States   December 3rd, 2008 10:08 pm ET

Absolutely not. Didn't we learn our lesson last time? Strict oversight of the spending is unlikely, and we'll probably just end up blindly aiding another group of self-interested people who'd rather waste aid money than actually use it as intended. This should serve as a lesson to every major business in America that hasn't yet learned that the American people should come before profit.


neil carter   December 3rd, 2008 10:08 pm ET

Would it be cheaper to let these car companies go under and let the employees file for unemployment like the rest of us. And not only that; why should they be entitled to 95% of their pay. I'm lucky to get half of what I made on a real job. I feel that auto workers are over payed anyway. Try getting a job at ford or gm. I've tried for years and found they hire family members first and use a lottery system to get in.


Vinod   December 3rd, 2008 10:08 pm ET

Loan or no loan for the auto industry, the bottom line is that they don't build good cars. Secondly, job loss or no job loss, it does not matter. The japanese car companies in America are in the same country, in the same recession and same situation, but they are not lining up on Capitol Hill to ask for bailouts.


Joe Blais   December 3rd, 2008 10:08 pm ET

Yes, I agree, but.. I think it should be formed in a different wayu.
Support the bottom, not the top
Use the money for buyer coupons. You get so much based on lower income, so much for family size, so much for US made, So much for fuel economy... whatever
Make it dependent onsome concessions by both sides.
I was never in a union, but when I started working as a mining engineer, one of the old engineers told me of how it was his first day of work, some time after WWI. His was tasked with carrying out the body of a Mexican worker. He was told to dump the body out on the waste pile for his kin to pick him up. Check out Ludlow Massacre.
Total control by one side or the other doesn't work Totally free capitalism brought US things like slavery, and it wasn't a free market that stopped that!

Also I don't thing the reserve system works at all. Money is a set of numbers, and no economic activity "morfs" things from one set into another. Stocks don't morf int money, cars don't, gold doesn't... so when the source, the FED, takes back more than it issues, now 1/2 percent, then when paid back the economy has less, so it needs to borrow more..... off topic I guess...


John H   December 3rd, 2008 10:08 pm ET

The blame for this problem is misdirected. We the American are to blame. Suddenly we need fuel efficiency. Only a short time ago we only wanted huge SUVs and Hummers. The auto makers were forced to build what the public would buy. If one had started producing only small electric two seaters, 5 years ago, they would already be bankrupt because they wouldn't have sold.

We have had a gross lacking of leadership in the country. No one has stepped up to the plate to help us see and understand the future. Likely, money from special interests has led us 'message' to the country and we the public bought it.

It does take time to retool for completely different types of vehicles. Perhaps the one error made by the big three is the inability to react and retool faster than they can.

This same public now seems to be against a bailout. I don't know the answer. I do think about what might come of no bailout. Every little community has an auto dealership. If the big three fall the domino effect will likely take out many parts manufacturers. We'll quickly be left with the need to drive our existing vehicles but at the same time may not have the supply of parts to keep them on the road.

It truly is a mess. The right answer is extremely complex. What has happened is horrid. Unfortunately there seems to be no really good solution. I only hope we get a solution with the least negative outcome.


Eleanor Barney   December 3rd, 2008 10:08 pm ET

I agree NO BAIL OUT. Make them put their homes up as collaterel. Or even sale some of them and put the money back into their companies. The union is not going to give an inch. So a lot of people will be out of work, there is a lot of people already out of work. We as taxpayers cannot be responsible for this. Ones out of work, will not have the money, the ones who don't work, will not pay, it will be up to the middle class and we cannot pay it all.


wendy   December 3rd, 2008 10:09 pm ET

heck no!!!!! NO BAILOUT FOR THE PEOPLE THAT HAVE PUT US IN THIS MESS!!!! They don't have a plan, they've ripped us off enough


Dominic Facio   December 3rd, 2008 10:10 pm ET

We NEED these big 3 to go, so we can make a change for the better! We need absolute change. We need the VENUS PROJECT.


Kay Williams   December 3rd, 2008 10:10 pm ET

I'm so sick of people bashing the Big Three. I retired from GM. When our jobs were going out of the country I asked who does GM think is going to buy their cars if they get rid of all their workers? We spent most of our hard earned money on our own product. You get rid of us you lose sales. Isn't that just common sense? I can tell you that my 2003 Cadillac CTS got 30 mpg and if I ever had a concern with anything customer service was top priority with GM. Not only for the Cadillac but for every GM car I've owned. And I've owned GM for 30 years!


Ray Sundar   December 3rd, 2008 10:10 pm ET

Automakers produce tangible products like cars that are useful to man's day to day life and we are questioning their bailout. Financiers in the stock markets have produced nothing but fictitious products that they have sold to unwary customers and we are trying to justify their bailout. Does Michael Moore really think he's right in maintaning the viewpoint of letting the auto industry just collapse because of bad choices!


Ann Terrell, Cape Girardeau, Mo   December 3rd, 2008 10:10 pm ET

No, I would not bail out the automakers, put a pox on them! Cutting costs–what else, but hit the poor workers and retirees with cuts in health care benefits–way to go for the dead beat managers and union!!! Ship jobs south to Mexico–help the drug lords, it just comes naturally!! Boeing (yes, the airplane manufacturer) had an electric car ready to go into production in the 80s and the government said no way– it would hurt the automakers and the oil companies–a pox on the Republicans. Ciggarrette manufacturers are required to put cancer warnings on their products, do they require gasoline manufacturers to do that– NO WAY!!!! Medical studies conducted in southern California showed nonsmokers living close to busy street intersections and freeways, have much higher rates of lung cancer than smokers caused by the pollution and carcinogens in the car exhaust of unleaded gas. Ford manufacturers a car sold in England and Europe that gets 65 m.p.g, but-they say it wouldn't be cost effective to sell here. I am a literate adult, and got this knowledge from news articles put out by the Associated Press and Reuters on the internet and in newspapers. Does the average person really understand how ignorantly we are being treated? Let's start educating John Q. Public. Let people know-that when it gets down to the nitty gritty, capitalism in America is only for the chosen few. If you want to put something out like the electric car; or come up with a better widget that MR. BIGSHOT CEO can't compete with effectively, oh no you can't do that. And who hurts–the majority of American workers making less than $20.00 an hour. When gas shot up to plus 4 a gallon and John and Jane Doe had to chose between rent, groceries, going to work or the Dr.; no one cried for them. A very big POX on bailouts!!!!


JAKE   December 3rd, 2008 10:10 pm ET

I AGREE, WHEN DID THEY CHANGE THE NAME OF NEW ORLEANS TO KATRINA??? I MEAN IT IS TRUE WHEN YOU ASK A PERSON FROM NEW ORLEANS WHERE THEY ARE FROM THEY DON'T SAY NEW ORLEANS-THEY SAY KATRINA. LOL
THE HURRCAINE IT SELF DID NOT HIT NEW ORLEANS OR KATRINA, IT HIT THE WHOLE MISSISSIPPI.

HUMAN ERROR–FLOODING IN NEW ORLEANS

REAL HURRICANE–THE WHOLE MISSISSIPPI GULF COAST.

THEY DON'T WHINE AND BOY DID THEY SUFFER AND STILL SUFFERING-–


Sandra Chancelor   December 3rd, 2008 10:10 pm ET

Michael Moore is a disgrace to the State of Michigan. Easy for him to talk, mr. millionaire. I think he should crawl back into the hole he came out of.


Norinne Norris   December 3rd, 2008 10:11 pm ET

What do you mean by moderation?


Mahen   December 3rd, 2008 10:11 pm ET

The big three management needs to be reformed. Responsible, intelligent management team need to be put in place. UAW needs to be responsible too. UAW needs to stop protecting irresponsible works.

This is a very simple problem to solve. But irresponsibility has made this a big problem.


Al   December 3rd, 2008 10:11 pm ET

I disagree with giving the big three the bailout they're asking for. I agree with Michael Moore's take on what they should be building. If the auto manufacturers had spent the last 10 years investing in infrastructure and a better quality, more fuel efficient automobile, instead of awarding themselves with ever increasing salaries and bonus packages, they wouldn't be in the position they're in today. I also think Larry shouldn't expect a 15 second answer to a complex question by his guests.
Al


Sue, New York   December 3rd, 2008 10:11 pm ET

It all begs the question – why are the CEOs only offering to take a one dollar salary IF they get the bailout money and will not reduce their salaries if they don't! So they will not take a cut if their company is about to fail! Their motives and integrity are appalling !


Kathleen Preitz   December 3rd, 2008 10:11 pm ET

I think that the management of the "Big 3", AIG, Wall Street, Banking, etc. should go to jail for many years. These people were supposed to keep up with what's happening in the world and what was needed in each area. If these so called "managers" can't manage, they should be severely punished for causing this country to collapse. They should not receive those HUGH salaries & bonuses. Paulson certainly isn't one to be making bailout decisions when he was one of the CULPRITS. It makes me sick. None of these companies should get a bailout. These so-called managers are a pitiful example of leadership. Restructuring with new people might help. I don't know what the answer is, but these people have to go.


Tina from Michigan   December 3rd, 2008 10:12 pm ET

If we dont help out the big 3 when they need it, where it will it leave the US. It will not just be the big 3 that suffers it will be all the small plants that the big 3 supply. millions of jobs will be lost. can we really afford that? Have you been out looking for a job lately? There are none to be found in Michigan. But this will not just effect Michigan it will effect the whole United States. The Treasury department had no problem giving the banks the free money that they dont have a clue how it was spent. But a loan is something that is paid back. WHY NOT HELP THEM!


Kelli from Tampa   December 3rd, 2008 10:12 pm ET

That is what I was getting ready to say- the fear factor...when all else fails ...scare people!!
We will not have tanks for our illegitmate war...


Dorothy D.   December 3rd, 2008 10:13 pm ET

The average worker looks at the auto worker and sees them making so much more money. I live in a community with two major auto plants. We see them collecting 95% of their pay during the layoffs and shutdowns. We see them going out and putting the small contractors out of business doing jobs for less just to keep busy. They need to be required to do communtiy service during this time, 40 hours a week, since it is the community that will be paying the bill to bail them out. I know the community can find many jobs that need to be done but do not have the money. They can go out and paint houses for elderly, community centers, small repair work, etc.


Jim Reilly   December 3rd, 2008 10:13 pm ET

No Bailout of Chrysler which is owned by Cerebus a Merger & Acquisition company, unless US appoints all new management and gets warrants for stock. GM needs to get back GMAC or they can't survive long term and Ford, Chrysler and GM need to build high mileage vehciles that people can afford not just SUV's and Trucks. This bailout is wrong approach, replace management and reorganize companies if taxpayers have to pay.


Jason   December 3rd, 2008 10:13 pm ET

Hell no! This is robbery!! Illegal, Let the failed business model fail!!! That's what spurs new growth! Big OIL runs this country!! Soon we will see BIG OIL BUYING the CAR companies!!


SAM   December 3rd, 2008 10:14 pm ET

I WANT TO BUY A NEW CAR AND CAN, BUT IF THE CAR INDUSTRY GETS A BAIL OUT-I WILL NOT BUY USA CARS AGAIN.

GIVE EVERY US CITIZEN THAT PAYS TAXES A MILLION DOLLARS EASH–WE WILL GET THINGS BACK ON TRACK......JUST SAYING


Mark   December 3rd, 2008 10:14 pm ET

Ah, Michael, you showed your blind spot. All these years after "Roger and me", and you are still banging that drum for the unions.
There was a time when unions were necessary, but they are the greedy, 800 lb gorilla in the break room.
Americans are good, but not magic. We can't take the same materials and make a car that will compete in the marketplace when we pay people $75 per hour and benefits that are gold plated. It just aint happenin. Look at this logically and not through the prism of your hatred of GM.
It is either let go of your bag of gold or drown with it. Choose.


robbie   December 3rd, 2008 10:15 pm ET

hi larry...love ur natural hair..no dye job or hair piece...i am with michael moore...NO bail out money period...i watcher ur tv show earlier and mike really made some comments...tks


Sam   December 3rd, 2008 10:15 pm ET

The GM workers are getting paid to sit and play cards. The system says you get paid to work, when you don't do work you don't get paid. The GM system is very wrong and no one is looking at it. They are focusing on building quality products to get people to buy them. Think for a second, quality products cost a lot of money. It is quite obvious that Americans don't have money to be spending. So, how about a different idea, different than jut debating about who should be right and who is wrong. What if we do something completely radical? Like a revolution that is long overdue. What about mass transportation? What about new, small hybrid cars? What about cheap smart cars? There could be many new ideas that people could be using their time on, instead of debating and telling the world their opinions. All we need is a few great ideas, America behind these ideas, and finally a new governing system that will allow these ideas. Just a thought.


Darryl Jacobs   December 3rd, 2008 10:15 pm ET

Shame, Shame, Shame on you big 3. You put out a sub-standard product to the very people you now want a loan from, the american tax payer.


Sandra Chancelor   December 3rd, 2008 10:16 pm ET

Good job all you so called Americans. Keep supporting the foreign companies and you'll soon be in the soup lines with everyone else. What loyalty.


Ann Taylor   December 3rd, 2008 10:16 pm ET

What about the tier 2, tier 3 suppliers?! American workers who are not a part of any union? It will be them and the 1 and 10 jobs that will feel the collapse of anyone of big three. This is so much bigger than the big three! Open your eyes! Further, most of the Detroit plants are closed ,it will be the surrounding suburbs that would really feel it! Give them the money with conditions... the CEOs will not be hurt but rather the everday worker will be devasted... Michael Moore is not in the average person's tax bracket.


mike mcguire   December 3rd, 2008 10:16 pm ET

WE need to save the big three, but need a completely new set of managements. If they would have set aside monies for the retirees when they were working we would'nt be in this mess. The salaries of current management are ridiculous as are the current mindset of shipping middle-class jobs to be done by slaves.


Nikita Patel   December 3rd, 2008 10:17 pm ET

I am for bail out as long as we add in the bill that more workers are not laid off..the only reason for this bail out is to keep jobs for thousands if not millions of americans...

And there should be claws preventing BIG three from laying off workers and hurling these money in their pockets like AIG..

Also larry, when are you to bring top indian official to get INDIA's point of view on the mumbai terrorist attacks...Why only voice one side and not the other....

After all that is not how CNN operates or does it????


Doug   December 3rd, 2008 10:17 pm ET

The only people that can afford a new Big 3 car is the auto workers. I can't with a famiy of three on $10 per hour job.


Ray Sundar   December 3rd, 2008 10:17 pm ET

Michael Moore's viewpoint of not bailing out automakers who produce tangible useful products like cars while bailing out these scheming bankers who produce fictitious products and sell them to unwary customers seems contrary to common sense.

I say bail out auto industry but not the wall street bankers!


R. Gonzales   December 3rd, 2008 10:17 pm ET

Why does everybody blame the workers, when all they do is build cars that are put in front of them. What about managers and the ceo's that manage the BIG 3. No one says a thing about being held accountable for their inabilty to properly manage. All this and they get paid MILLIONS and get a pocketful of shares and bonuses. What a shame


ma   December 3rd, 2008 10:17 pm ET

I agree with SAM, Give the taxpayers 1 million each then we can pay our mortgages, solving the mortgage problem, we can buy a car, solving the auto industry problem, and we can pay our debts and of course our taxes. It is All about the Money, right? ma


david farmer   December 3rd, 2008 10:18 pm ET

It is a loan, not a bailout, this industry would be at a greater loss in terms of employment to the country than any other industry past if no loan given
Given present economy does not help at this time, but there will be a turn around like always I am sure!


Laura   December 3rd, 2008 10:18 pm ET

All this blather and they will get their money regardless! There will be some serious arm twisting for the holdouts in Congress and it will fall out just the way it did for the banks. But, I'll still be homeless because no one a year ago saw the Tsunami coming! Not the sharpest pencils in the box! Face it.

Corporations and CORPORATE WELFARE matters. Individual citizens don't.

I would ask Obama, WHY CAN'T WE LET THEM GO DOWN THE TUBES?

Just wait until this new Administration takes up the issue of that hideous topic "Universal Health Care" and watch the medical, pharmaceutical, and insurance industies CRY SOCIALISM, eerrrr uhhh, CITIZEN WELFARE! Isn't it time for we, the citizen take our private citizen jets on an elaborate vacation??????????????


Eric   December 3rd, 2008 10:18 pm ET

I deeply empathize with the Greens and other hard working auto employees. Even so, the US auto industry has lived beyond its means for years; spending more than it was able to coax from the US consumer. A loan will not help them bring in more consumers, unless of course the proposed loans go to consumers and not to the companies directly. But a bail-out after the fact, after auto firms have filed for bankruptcy, could well be helpful. Only a bankruptcy will give management and employees the will to make the fundamental changes needed so as to make the industry consumer responsive and structurally profitable.


UAW in Missouri   December 3rd, 2008 10:18 pm ET

What the American people should understand is that this is a loan. Should Wagner and the other CEOs be replaced? (YES) If not they should be put on a very tight leash and watched like a hawk so dont waste billions of hard working Americans tax dollars like they have done with corporate money. We ( the UAW ) did not cause this problem. We go to work and do our jobs. The UAW didnt run this company in the ground Upper Management did.


Mary Gibson   December 3rd, 2008 10:19 pm ET

I do not want to see all these workers put out of work but I do not want one penny go to the top officers nor do I think, in these tough times, that the workers should go on strike for more money and more benefits. They should be happy that they would keep their jobs and not act greedy. I"m sure these officials have earned more money in their time as officials than most of the workers will earn in a life time.


Kelli from Tampa   December 3rd, 2008 10:19 pm ET

Make a decent product Sandra and stop ripping off the American public. BTW I will not be in any soup line...go to school and become a nurse...you can have all the work you want.


Dax   December 3rd, 2008 10:20 pm ET

I don't believe in the bailout per say. I agree with Michael Moore that they need to go in a different direction. I don't know how they are going to do that though. I didn't agree with Moore about the workers though. I DO believe that they are part of the problem along with the men running the show. This goes for a lot of factory workers in the states. They get paid to much money. It is a factory job! I am a veterinarian that has gone to 4 years of undergrad and 4 years of grad school, and some of the auto workers make as much as I do. I don't have a problem with them making a living wage, but lots of them don't even have a college degree. Everyone at the top and bottom need to take pay cuts to help the companies.


Ted Tretiak   December 3rd, 2008 10:20 pm ET

The American CEO get to much compemsation compared to the rest of the world- get real the old boy network needs to be eliminated!! It must be on production and efficientcy what is best for company and USA.


Dodie from Irvine   December 3rd, 2008 10:21 pm ET

RETRAIN THE AUTO WORKERS TO REBUILDING OUR COUNTRY! WE CERTAINLY NEED IT. THEN THEY CAN WORK FOR GOVERNMENT WAGES WHICH IS STARTING AT $10 PER HOUR TO $25 AN HOUR! MEDICAL INSURANCE IS HMO UNLESS YOU CAN AFFORD $460 PER MONTH


Tom   December 3rd, 2008 10:21 pm ET

For the past 15 years I have worked for a tier one Japanese auto supplier. We make products for the Japanese OEM's and the Detroit three. But if one or more of the Detroit three go bankrupt, it will have a significant unfavorable impact on the whole industry, pushing many suppliers into bankruptcy and millions of job losses.
I dont support loans without significant oversight and committment to developing new gen products but without loans I am afraid this country will spiral down into a severe recession/depression.


John Lyddon   December 3rd, 2008 10:22 pm ET

Congress should not waste taxpayer funds bailing out the current management of failing corporations.
I have concerns about the implementation of the economic recovery plans directed toward rescuing corporations failing due to the bad decisions of current management. Failing financial and automotive corporations are of special concern.
I think handing over large sums of taxpayer funds to failing corporations without requiring new management would be a waste of taxpayers money. The current management of failing corporations has demonstrated they are not competent.
To continue past failing management and practices while expecting different results is not rational.
Any failing corporation that receives taxpayer funds should be required to replace the current top management as a condition of receiving taxpayer funds.


Vicki   December 3rd, 2008 10:22 pm ET

I'm in favor of a conditional bailout of sorts. The companies have to be restructured from the top down and the unskilled, uneducated labor should be brought more in line with their counterparts in other industry. $28.00 per hour is a high wage for a worker with no marketable skills outside of their industry and it is more than many people with masters degrees earn.

They should be made to build competive, eco-friendly vehicles. The technology needs to be standardized. I don't want to invest 40K into a hybrid just to find out that the technology is not fully supported and accessible. There's compressed air, hydrogen, electric and bio-fuel: Which ones will go the way of quad stereo and hd dvd? On a slightly different note–GM had slated flex fuel options for the Hummers by 2010–maybe if they'd made it a priority they would have more sales.


Russ M from Buffalo, NY   December 3rd, 2008 10:23 pm ET

Money should be directed to the consumer. Based upon specific proposals presented and approved by Congress. Incentives would be paid directly to the manufacture and passed on to the buyer. For each car sold in the first quater of 2009 a buyer would recieve a discount to encourage the purchased a vechicle. For example, $8,000 in the first quater, $5,000 in the second quater. The amount would diminish in the 3rd and 4th quaters. This would reduce current inventories, create cash flow for the manufactures and benefit the consumer. If money is given directly to the manufactures under their current management you will not see an immediate affect, if any at all. This would serve as a common sense approach to help jump start the economy NOW!


Stephen Flatt   December 3rd, 2008 10:23 pm ET

The Big 3 need to fall by the wayside. As I watched the CEO's before Congress beg for their next bonus checks!! Not one could expound on a viable plan that would make them solvent and create a future for the auto industry.
We as a nation have allowed the very decay of our forefathers foundation wither into insanity due to deregulation and financhial ponzi schemes. (Steve Fraser's book "Wall Street-America's Dream Palace").
The auto industry grew enormously and with it the number of models available increased to where profits are made only on a select few. The management teams of all 3 corporations meet daily to discuss their gant charts and data to evaluate their status and yet they continue to produce vehicles that sit on a lot for months.
The bottom line is that the selling price has risen each year along with the quality and longevity of the vehicles which attributes to a lower turnover rate.
The price of fuel has affected the industry as well. I would advise Congress to invest the money in each worker for their future in training and creation of new energy sources to fuel our society.
Mass Transit should be part of the investment to reduce our gas house emissions. Stanley Morgan CEO giving out bonuses to fired or laid off executives days before they filed for bankruptcy is and should be a chargeable offense.
These people should be held accountable and placed in jail until they return all of the money they do not deserve. Why should I want to bail them out. This is thievery plain and simple.
America we need to stand up and defend our rights, challlenge those in authority to make those decisions that weigh favorable to the common man. When they wish to proclude themselves from everyone's dinner table then they should be voted out of office. The greatest dilemna that we are facing is the outsourcing of goods and jobs from the soil of this great land. America can not sustain itself on having an economy based on real estate markets- mortgages- homes that seventy-five percent can ill afford and the auto industry.
We need to put higher taxes on imports, eliminate the off-shore corporate tax breaks and create the hope of jobs back on American soil. Colleges and Universities are big business, yet I see many young people that have several four year degrees and a masters that can not find suitable work. They are left with an enromous amount of debt that may never be paid off.
The Universities should take stock in ensuring those programs and curriculum will provide the means for a prosperous future for its graduating students.
Back to the Big 3, unless they can provide concrete evidence of a structured repayment schedule for a loan then the answer is "What part of the word "No" don't you understand!!!


Don Brunton   December 3rd, 2008 10:23 pm ET

Atlanta has already seen the worst of the auto industry collapse with the closure of the GM plant and the Ford Plant. This economy seems to be doing OK. I was an employee of a major airline in Atlanta for 15 years and quit to go to Nursing school. Best move I ever made.

Don Brunton


Edward F. Krupp   December 3rd, 2008 10:23 pm ET

If I had made a tent that fell down I would not be given charge of rebuilding it. Yet they want 34 billion dollars to give the same incompetant leaders (both Execs and Union chiefs) another opportunity to line thier pockets and fail at being responsible for creating a competitive and green product that is also functional and fashionable at a world competitive value. Let them file chapter 11, restructure, retool and maintain thier employees at reduced incomes and reverse the ever growing gap between labor and exec salaries from $400 to $1 to $100 to $1. Let the a.r.m.mortgages be rewritten to reasonable outlines, even if it means 50 year payment plans and put a structured profit cap on the marketing of real property. Mandate health coverage for all employees. Reward employers with tax breaks for health coverage, additional employees, expansion of facilities and the creation of quality green products. Combined efforts wll increase tax revenue and free taxes for enhancing government sytems to fight crime, specificly the drug phenomena , changing it to a real war, as it is after all, the real terrorist.


jackson   December 3rd, 2008 10:24 pm ET

Most of the individuals voting against the bailout probably stopped buying American 20 years ago and cheer free trade.

The auto industry needs to be gutted not killed. I am happy Congress denied them any funding without a viable plan; I wished Congress would have been savy enough to do the same with the financial industry. A bailout is necessary; however, the UAW has to work with the Auto execs concerning reasonable pay as it relates to profitability. Likewise, the execs need to ensure that alternative fuel and better performing vehicles are not just a design/concept but are in production ASAP.


Kelli from Tampa   December 3rd, 2008 10:24 pm ET

Tell them Dodie – they need a reality check!!!


Patrick   December 3rd, 2008 10:24 pm ET

No bailout for the people that put us in this mess. Who are these people, it was not the Big 3. You were all happy to buy the productes during the good times. Soccer mommy needed the SUV to take little Jimmy to soccer practice, right? It was all the greed, all the excess that everyone in this country was part of. Hell don't we need the giant house miles from away from where we work, the electronics, the gadgets. Everyone could live with less but all of the self-righteous people seem to think the evil car companies are the problem. Wall Street, most of the companies that most of use work for, all trying to make that extra buck. YOU (WE) were all part of that. The politicains, they were part of it too, PORK, PORK, PORK. Yeah, they are the ones that right to pass judgement


Monica   December 3rd, 2008 10:25 pm ET

The big three should not get a bailout. I agree with Michael Moore.
Living in the suburbs near the St. Louis Chrysler plant, I know many emplyees including relatives that have lost their jobs or willl lose it shortly. It is a shame corporate greed and lack of foresight have allowed the American car manufacturers to be in such peril. Taxpayer money should be spent on retraining employees and building the U.S. infrastructure.

Monica in St. Louis


Adam   December 3rd, 2008 10:28 pm ET

Yes I agree that the auto makers must be helped with taxpayer money, but with conditions.

First, I agree with Michael, the current management needs to go! They were so out of touch that they built cars so misaligned with the market and so poorly made, that foreign manufacturers were able to overtake GM and Ford in their own homeland market! This is not a recent problem, it goes all the way back to the 70's.

The first gas crisis gave the foreign makers the edge. While detroit was building land yachts and managing with arrogance instead of common sense, Tokyo was building corrolas, mini-pickups and high mileage cars like the original Datsuns.

The first hybrid was foreign, as were many of the performance and safety improvements now found on ALL cars. This shows the forward looking vision and responsible management behavior of men limited to pay less than 50 times the average workers rate.

While American cars become garage queens at odometer readings around 100,000 miles, Japanese cars go 200,000 miles easily.

Detroit ignored Edward Demming and his manufacturing ideas but Japan paid attention and last year Toyota overtook GM in the USA market after a slow but steady intrusion that lasted 30 years.

The workers are not to blame for the lousy quality they are building to the product profile demanded and overseen by management nor are they responsible for the myopic management vision, so I say keep the workers and fire the managers! They never deserved the 600 times the pay relative to the lowest paid worker and in the last few decades they should have only earned a pink slip for their ignorance.

Management changes are not the only move that needs to be made. We have larger issues to deal with at the same time.

First, wages have not kept pace with productivity over the last 30 years. Since 1980 wages have diminished relative to productivity and now are so low that they do not even allow a worker to maintain his living standard let alone improve it!

It is a fiction that workers on the GM line make $75.00 per hour, the reality is a little over $30.00. That is $62,000 per year for a $40.00 week and while that sounds like a lot, when compared with the cost of living increases with healthcare and other factors considered it is not even remotely proportional to the same job's paycheck 40 years ago.

We have ot repair this inequity fast so building the cars currently tooled for is the only short term solution but they aren't selling. The solution is to build them as they are but with a natural gas conversion which is easy to do. Natural gas storage and distribution is a well developed technology so ramping up to add NG capability to gas stations will require workers but not a design curve, just a manufacturing lead time.

By doing this we put the auto makers back to work at taxpayer expense until the market responds to the new fuel paradigm but the one and two year benefit is that we dramatically reduce foreign oil dependance while stimulating the economy and preserving jobs. This is a quick interim solution to stave off collapse and preserve jobs but it is not the long term solution.

For the long term we must start to transition workers into building mass transit and public infrastructure. To do this, you need to build with an end use technology in mind so you do not obsolete the massive system needed or couple it to an energy source that is not sustainable.

There is a system that promises a solution to this problem it is called the Interstate Traveler (ITC) hydrogen super highway, or Hy Rail for short (Hy Rail.us or Interstatetraveler.us) Everyone realizes that Hydrogen is the end game answer because of its abundance and the zero environmental impact from its use but it is not a direct gasoline replacement and so its use paradigm is different and poorly understood by the public.

This offices of ITC are headquartered in Detroit and the transition from automobiles to this unique mass transit system would happen in Michigan where an ample workforce exists with the skills the project requires. That way the higher quality, longer lasting cars, would not leave people unemployed as the market stabilizes the workers would be absorbed by the rising need caused by building the ITC / HyRail system.

If this plan is followed the taxpayers would be sure to get its money back turning the "bailout" into a development loan.

The question is does anyone in power have the guts to try a project this ambitious or do they lack the courage?

The taxpayers have the guts and the will and I hope the Obama administration has the vision to make it happen.


Debra Hernandez   December 3rd, 2008 10:28 pm ET

It shouldn't be a gift, but a loan. As angry as folks are about the irresponsible way the US auto industry has been run, it cannot be allowed to go under. The suppliers for Ford, GM, and Chrysler don't just supply those businesses, and will likely not survive their demise. A number of other industries will be badly damaged if we lose those support businesses. Strict oversight should be attached to any loan. These guys are likely to reduce their annual salaries to a buck, then promptly give themselves an eight to nine figure "bonus". Hopefully we learned from the AIG and Wall Street bailouts! And please stop calling these guys the "Big 3". Toyota makes as many, if not more, vehicles right here in the U.S., in U.S. built & staffed factories with U.S. managers...paying U.S. taxes. If GM/Ford/Chrysler had been conducting business like #1, they wouldn't be looking for handouts today.


Dawn   December 3rd, 2008 10:28 pm ET

First of all, I believe it's a loan the big 3 are asking for, not a bailout. Since the banking crises has made it difficult if not impossible to get loans. I have always bought american made vehicles and have never had a problem, so there are satisfied american built customers. I think something needs to be done to support the collapse of the big 3. The loss of all those jobs, I think, would be a devastation to the economy. There will be more umemployment and the failure of families able to pay their mortgages. There has been a long trend in this country of out-sourcing and eliminating middle class jobs. The rich are getting richer, the poor getting poorer, and the middle class is disappearing.


Rory T. Sponsler   December 3rd, 2008 10:29 pm ET

My grandfathers feared for their lives as they tried to form unions for the coal miners in West Virginia. My father went from being a union miner to management and then had to carry a gun for his own safety. When the UMW insisted that a building janitor be paid $17/hr. in the late 1970's, my father claimed that the important job issues for which my grandfathers made great sacrifices would soon come to end.
While I feel for the auto workers' plight, many labor unions in this country have brought much of their economic woes upon themselves. The UAW leads the pack.
Now, the UAW cries "It's necessary for America's well-being for us to keep our overpaid jobs." NOW they are concerned for America. "ME ME ME !!"
I would bet money that NONE of the teachers of the auto workers' children make on average, $75 an hour. Funny how the UAW never made such a big public media outcry for their own kids' teachers. Quality, well-paid teachers (who would probably work even HARDER than they already do) for their kids must not be necessary for America's continued well-being.
Here in Florida, a "right to work" state, government labor unions cannot strike. With two college degrees, I make $30 an hour. Private school teachers make even less. Our public school district has had 5 gun incidents already this school year. I would figure some schools in Michigan are even more dangerous.
Unfortunately, the remaining auto workers have not done what is necessary to remain relevant and maintain a viable work environment for themselves and for future generations within their industry. My tax dollars should not go to bail out the UAW until TEACHERS make AT LEAST what auto workers make. Teachers, willing to risk their safety on a daily basis, are needed more than someone who likely puts a single part of a vehicle onto it.
I have already informed my Senators and my Congresswoman that if they vote for yet another bailout, I will run a campaign AGAINST their future re-elections. I encourage all citizens across the country to do the same. Start with Nancy Pelosi. Some Democrat. Sheeesh !


Steven   December 3rd, 2008 10:29 pm ET

I think an overhaul of the auto industry is in order. I do think Michael Moore was correct with is comment that the three executives of the American auto industry should be replaced. There needs to be a clear vision in order for the auto industry to get back on its feet. Perhaps taking a look at what Honda and Toyota are doing is a start. I think union employees may be a thing of the past. After all, how many workers actually see the benefit of belonging to unions, in today's enviornment? Perhaps those workers in the auto industry benefit from membership.

It's time to begin to change how business is done in America, not only with the auto industry.


Tim   December 3rd, 2008 10:29 pm ET

With regard to the "BIG 3", I personally don't want to see the auto industry devastated, but the way I see it in a real time, Tax payers are already burdened enough and as awful as it may be perhaps this country needs to feel the pain of greed. All of us need to be held accountable for the condition of our economy. We sat back and allowed all of these corporate giants free will and didn't hold them accountable for delivering on their patented false promises to the consumers in America who bought their products. I believe they should all buck up and pull out of their own pockets to put themselves back on track. Why should we help them when they surely have not helped us. Our economy is a direct result of no oversight and massive greed. Trickle down economics have not worked for any average joe in America and I sure am not feeling sorry for any of these companies that have not acted responsibly. Yes, America will suffer, but we're Americans and we know how to bounce back. We are at our best when we are forced to do the right thing for ourselves. I see no reason why we should make it easy for any failing or flailing corporation. But hey, what do I know? People may think I don't love my country and that I'm not looking at the big picture, but I am doing just that. We need to make our country great again by being America and standing shoulder to shoulder and proving to the rest of the world that we are the leaders we have professed to be all these years.


Scott T   December 3rd, 2008 10:30 pm ET

Give them the money!!!

If they give us the ELECTRIC CAR!!!

Ask GM about their electric car the "EV1"
Ask Ford about their electric car "THINK" and the electric "Ranger"
Ask Toyota about their electric "Rav4"

What happened to these electric vehicles????

This technology is not something of the future... this technology has been tried and proven!!!! It works.

In closing, we can still keep the jobs of the auto workers, and stop global warming at the same time... what a concept!!!

Oh, one last thing... we won't need to purchase the OVER PRICED FUEL!!!

This is a no brainier!


enriquekaufman   December 3rd, 2008 10:30 pm ET

the problem is if the govermen reposes the co's ther is a danger of big goverment, if the goverment takes over the co's should be done with partenship of the unions and privet investors,Gates simce to be
not excited about this ideas...


Brent from Michigan   December 3rd, 2008 10:31 pm ET

Yes Detroit auto has been greedy, shortsighted, lacking in innovation and generally out of touch with the needs of both the consumer and and the environment, BUT if they provide a decent business plan I completely support the federal loan. Why is everyone focused on the personal failure a few CEOs? It's about keeping and creating American jobs for the average worker. The UAW also must seriously check itself and its demands. One of the reason foreign car companies are competative in the US is no union plain and simple. By the way, many of these foreign auto companies wanted to retool plants in Michigan, but unions, weak state leaders (with the initials Jennifer Granholm) pushed them away/let them get away. So, who's going to bail out Michigan?


Jay Brus   December 3rd, 2008 10:31 pm ET

you hear me! think about it for a bit the econmey is in the toilet right now so obvisously we need a soloution thats actully going to fix it, right. And listen if we srew this up were all doomed for a soicty were we have flying cars in our GARAGE one day. So this is the time the new age and i mean NEW we make the world into amusement park were you can take a slid to africa. we need to make it so that everyone is working so that one day we can live in space because life is about building on what you know kind of like school right. so if we build a soiety were one day every human has been educated and more inportantly wants to learn. then some day maybe a million years from now a six year old can pay 5 bucks to travel to mars. A depression is no joke people. Im not saying this is all going to happen over night but 2000 years later you will thank me. And i know this all sounds crazy but thats cause 90% of our population is dumb.living in a new age. Frist we need to throw out almost everyone in government. are u serious are you friken serious the government is run by idoits. honestly 911 911 911 911 911 911 f88k y8o goverment. and its not the autos fault. its the goverment. micheal micheal micheal safe us please . MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal MIcheal
why arn't there more of us


Kelli from Tampa   December 3rd, 2008 10:32 pm ET

I am not paying for the production of more supersized SUV's
LET THE OIL COMPANIES BAIL THEM OUT!!!


Jim   December 3rd, 2008 10:36 pm ET

Adam, Toyota overtook GM worldwide not in the USA, facts people, facts, not BS. Also if you were to do your research on performance and safety advances most of the important advances DID NOT come from foreign manufacturers. Facts


RCross   December 3rd, 2008 10:37 pm ET

I took the buy-out with GM in 2006. I don't understand these people just thrashing at UAW workers. We build these vehicles, not sit in our fancy little offices making millions of dollars a year like the bigshot CEO's. I used to work in a parts plant that was shut down in Indiana. The most disgusting place to work (cockroaches that could pick you up and carry you out, walking through 2 inches or more of oil, machines breaking down) but you know it might have been disgusting but I took pride in what I did. Then pack my family up and move to have a job. Working 10 hours on an assembly line. I took pride in my american job. I would still be there today if it wasn't for health reasons almost taking my life. If it wasn't for good old NAFTA we wouldn't have to worry about our american jobs. My goodness we can bail out other countries but screw our american jobs and our people. I just don't understand the government. Give to the people in this country that don't want to work and live off the system rather then helping the working people of this country. Over paid UAW workers, if I were still there (and my husband still is working for GM) I would take concessions to take care of the retirees that got us them jobs.

Kelly of Tampa – its UAW not AWU. You went to nursing school? Did they teach you how to spell. I hope you wouldn't mispell a diagnosis for a patient.....


Sandra Chancelor   December 3rd, 2008 10:37 pm ET

For all you nurses with the good jobs wait until we get our socialized medicine that Obama wants. You'll all be crying just like the auto workers because your wages and your jobs will also be regulated. Stay tuned. You aren't safe either.


Maria from Minneapolis   December 3rd, 2008 10:38 pm ET

I am absolutely appalled that the big 3 are trying to get a federal bailout. Michael Moore hit the nail on the head. They have made terrible business decisions and are putting out a terrible product- bad cars. The big 3 lobbied so hard against federal regulations to build smarter, more fuel efficient cars and it's biting them in the rear big time, not to mention the level of quality compared to the imports. The whole situation stinks no matter how you look at it. Even though it would be an extraordinarily huge blow to the economy and millions of jobs will be affected, maybe it's time to let the big 3 face the consequences of their ill conceived business decisions.


sharon elliott   December 3rd, 2008 10:38 pm ET

no bailout monies for any auto maker! I hope the corporate greed mongers have to eat bumpers, fenders, headlights, and seatcovers to keep from starving to death. And that would be a feast compared to what many women and children will have to eat this holiday season.


virginia   December 3rd, 2008 10:39 pm ET

Dear Mr. King,

I believe that the auto makers should receive the the $35B loan guarantees without conditions like the banks have received. Our government leadership should encourage the public to buy American cars. In addition, the public only wanted to purchase the gas-guzzling cars and SUV's, therefore the auto makers were not encouraged to build fuel efficient cars. Finally, the government should actively make consumer car loan guarantees to the banks so they will start auto lending again for people with credit scores below 600.

Thank you,
virginia


MARCIANNA   December 3rd, 2008 10:39 pm ET

THE TOP 3 HAVE WASTED DECADES OF NOT LEADING THE WAY TO SUPERIOUR TRANSPORTATION. THEIR ARROGANCE IS SO EVIDENT. GOING FORWARD EVERY DEMAND TO CREATE QUAILITY VEHICLES . NO JOB LOSS BY ANY FACTORY WORKERS!! IT IS APPAULING, THAT THE WORKERS WOULD BE ASSOCIATED TO SHARE ANY BLAME FOR THESE PRIMITAVE, CRIMINAL, THINKING LEADERS. THE EMPLOYEE NEEDS TO BE PROTECTED FROM THESE CRIMINALS. WHAT ABOUT THE AMERICAN CONSUMER, CLEARLY THEY DO NOT VALUE US AND HAVE NOT FOR FAR TO LONG. THEY LOST ME IN 2000 WHEN I BOUGHT WHAT I THOUGHT WAS TO BE MY DREAM CORVETTE. I WAS TREATED SO POORLY FROM THE DEALERSHIP TO TOP AT GM! IF IT WERE NOT FOR ALL THE WORKERS, I SAY LET THEM GO DOWN! THE GOVERMENT MUST REQUIRE THE MOST STRICT REGULATIONS ON THESE 3 GOOD OLE BOYS! THEY SHOULD BE ASHAMED OF THEMSELVES. CNN STICK TO SUBJECT MATTER, STOP ALLOWING ANY BASHING OF THE TIRELESS EMPLOYEES! IT ALL STARTS AT THE TOP! LETS FOCUS ON THE TRUE FACTS! IN CLOSING, THEY REALLY ARE NOT THE BIG 3 ANY LONGER, LETS TAKE A LOOK AT SALES! WOULD YOU BUY ANY OF THE CRAP THEY OFFER. IF YOU MAKE THE MISTAKE, LIKE ME YOU WILL SPEND 2 DAYS EVERY WEEK FOR 2 YRS. IN REPAIR! TRUST ME THEY DO NOT CARE. AMERICAN NIGHTMARE! GM, SHAMEFUL!!


Becky Horejsi - Houston, TX   December 3rd, 2008 10:39 pm ET

Part of the bailout agreement needs to include, the immediate voluntary resignation of the CEO's, their management teams and a restructure of the board members. In addition, the CEO's should be required to return their bonuses and exit the company without any extra funds.


Kelli from Tampa   December 3rd, 2008 10:42 pm ET

I already do not make much money for the 16 hr. days (without a lunch break) that I get. I hope medicine gets a total re vamp- I want everyone to have access to health care. Most people do not have insurance these days...so we will be glad when Obama is involved.
And if you do not think nursing jobs are regulated now...educate yourself.


Tom   December 3rd, 2008 10:43 pm ET

Larry, why doesn't the auto makers go to the rich oil companies for a loan ? Their cars have been making the oil companies rich for years !!!
By the way, why not force the auto makers to make more fuel efficient vehicles if they want our money...


carol kesling   December 3rd, 2008 10:43 pm ET

NO !!!!!!!! when wall street wanted a BAILOUT they told us the SKY WOULD FALL if we did not bail them out, nothing happened. the money was supposed to go to buy all the bad debts and start loaning money for house loans, and that never HAPPENED!!!! nothing but lies and more lies !!!!! enough is enough, we the tax payers NEED A BAILOUT !!!!!! its our turn for a break and a bailout !!!!!!


Harry Douglas   December 3rd, 2008 10:46 pm ET

Why do the CEO's of the Big 3 in Detroit even have to come to Washington and pleade their case. The financial crisis was created on Wall Street by greedy executives and CEO's. They got a total bailout to keep the American economy from total collasp.

The Detroit Auto Manufactures want a loan. A by-golly we better give it to them if we don't want chaos throughout our economy.

I am lobbing for The American New Car Dealers of America. They are left on the side of the road bleeding without finance or loan sources that are the life blood of their business core.


Vicki Pixley   December 3rd, 2008 10:50 pm ET

It's not a bailout. It's a loan! I live in Michigan and it is scary to see
so many people losing their jobs and houses! We need help.
I agree with Micheal Moore. Get new supervision for the big 3.


Kelli from Tampa   December 3rd, 2008 10:50 pm ET

Giving them a loan they cannot pay back only delays the inevitable (with MY money}


roscoe johnson   December 3rd, 2008 10:55 pm ET

Financial assistance(loans/loan guarantees) should be granted to automakers to afford their ability to survive this liquidity crisis. It is sophomoric to suggest that these companies shortfalls are due to purely senior management, product plan execution, and cost structure. First the yo – yo syndrome recently exhibited by oil pricing caused significant upheaval with Big 3 but hybrids and other fuel efficient products would not assure profits. American consumer product selection drove market for Trucks/SUVs and may again with recent low fuel prices. High labor/legacy costs are detrimental but again would not predict profit. The mid/late 90s were very profitable with these same constraints. Historicallly, these benefits have driven an expansion of the middle class throughout the country. Credit liquidity is perhaps greatest constraint which is why Big 3 are requesting loan assistance. This has largely been caused by financial market collapse and concomittant shutdown of American/world markets for major purchases(automobiles,etc.). Big 3 require financial support to overcome this "cash squeeze" in an extraordinary time.


Jammi Kumar   December 3rd, 2008 10:57 pm ET

American economy is based on the principles of free market and globalization. Taxpayers bailing out business does not fit in the mold of free market economy.

Why don't we let the the market forces determine the fate of these ailing businesses, ( auto industry or the financial industry or any industry to that matter)

Bottom line: Americans will always keep driving cars, and there will always be a need for auto manufacturers. If the big three go down , I am sure there will be other entrepreneurs that will pick up the industry and run it. The same auto workers will be hired anyway.


John Hanley   December 3rd, 2008 11:02 pm ET

An awful lot to read. I took note of Kelli from Tampa who is a nurse and comparing her pay to that of the autoworkers. She is absolutely right. I have a friend in California who I have known since high school and she had always wanted to be a nurse. It is some of the hardest, dirtiest work imaginable and they are paid a pittance compared to auto workers. There is a nationwide shortage of nurses and those who stay with it out of dedication are worked half to death. You would imagine nurses would be among the highest paid in the nation but you would be wrong. I agree with Kelli, retrain all those soon to be unemployed autoworkers to be nurses and let them do something constructive with their lives.


Paul in CA   December 3rd, 2008 11:05 pm ET

Larry.....When someone explains to me how a USA worker can compete with a foreign auto maker that earns a small fraction of what a UAW makes with-out giving up the gains that they fought for tooth and nail for 100 years and still have them in the middle class then I will be a great supporter of this "world economy", an idea by of and for greedy corporations. In the 1970's when Japan began flooding the USA with cheap Japanese motorcycles Harley Davidson was literally taking it on the chin. They went to Federal government and asked that tariffs be slapped on the Japanese bikes. The government granted their request and Harley went on to prosper. This did not slow the Japanese imports one bit. This whole notion that we should compete with third world countries with their slave labor wages is absurd. Until I am shown how that helps any USA citizen I am for re-imposing tariffs on all imports. The playing field is not level and the USA should not be dragged down for the sake of a "one world economy" which by design is anti-American. Two things I am convinced of is that we should not and can not compete with the likes of foreign workers and that this myth of a "world economy" is just that a myth created by corporations, of corporations and for corporations and the American worker be damned.


Joan Sayre   December 3rd, 2008 11:07 pm ET

The auto industry bailout : there still is something significantly wrong with this picture:-

I understand the CEOs have pared down their spending to project a decreased loss for their companies. To accomplish this feat they also project eliminating dealerships and laying off thousands of workers. Their narrow focus is only on their businesses – not the trnasportation industry and the needs of the country.

There needs to be new, visionary thinking about transportation in this country, Consideration for the environment has to be factored in. Excessive use of fossil fuel needs to be eliminated. Renewable energy needs to be developed. Reprogramming factories and retraining workers (so jobs are not eliminated) is essential.

Driving into DC instead of corporate jetting in-does not reflect new thinking. Even refusing a viable salary for the next year does not reflect new thinking. Rather, a plan is necessary which keeps workers employed, meets transportation needs of both our urban and rural population (to include mass transit) and reflects energy and environmental concens of the 21st century.

We would be foolish to give these guys a cent of our money. They have been sheltered in their affluent life style and they have shown they just don't get it. If they are not allowed to experience the natural consequences of their limited and greedy decisions, our country nothing will change.

Spend the monies to train and reemploy workers for a viable and visionary transportation industry plan. These CEOs have had years to be progressive, with continual updating to keep abreast with needs and resources. They have not done this. Do not bail them out.!!!!!!!


Bruce   December 3rd, 2008 11:09 pm ET

If we limited the bailout to the legacy costs only, by moving them to the Federal Government which is what would happen in a bankruptcy, this will open up private credit facilities for the automakers and not dismantle their suppliers. Because taxpayer funds would be used for this the automakers should be required to boost the amount of components manufactured in the USA contained in their products to create more jobs for the middle class. This needs to be done quickly before more of the supplier factories hit the auction block.


Dawn   December 3rd, 2008 11:27 pm ET

Another thing to be considered when discussing the collapse of the auto manufacturers is the effect upon the retirees. What will become of those that depend on their pension to survive, and are too old or even able to return to work? This thing effects many people, and if we don't find a solution now, we may have to pay later anyway.


Gayle Kall   December 3rd, 2008 11:27 pm ET

"Majority opposes auto bailout, poll finds"
but the "majority" thought slavery was o.k. too.


Dave Moore   December 3rd, 2008 11:28 pm ET

No, I do not support a bailout of the Big 3 Automakers. Unless they implement Michael Moore's plan. He has the most logical and sensible ideas to reinvent our factory infrastructure. We need mass transit and all of the elements associated with it to help curtail the energy crisis. How better to make the Big 3 profitable by reinventing them into mass transit producers. And think of all the jobs that will be saved and created. To me it's a no-brainer.


Dawn   December 3rd, 2008 11:36 pm ET

Kelli from Tampa, you sound awfully bitter. Why did you pick a career in a job that requires long hours with little pay? That was your choice.


Gail Singleton   December 3rd, 2008 11:56 pm ET

This is the best "Plan" that spells out briefly what we the people could do to fix our economy. Others could even read into this even more benefits than what this actually shows. Our "Wheels" have stopped and we Need a surge or Jolt to start the wheels flowing again. The best investment we have is in the American People who have paid this money to the mismanagement of our Leaders in the first place. From Automakers, to New Business Starts creating jobs, stabilize housing market values from declining further and so on and so on because this is the perpetual Wheel that keeps it moving.

READ ON:
How we should “Jolt” bail out America

My suggestion for the AIG problem
I'm against the $140,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America divided evenly

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+ .
Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair estimate at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam, which could go to automakers bailout.

Plus all child support will come out that is owed which will help stabilze it across the nation.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage – housing crisis solved. This would help out mortgage companies, save people millions in interest.

People could buy or pay off their house and afford to live off low paying jobs, and afford utilities, plus spend more on=2 0retail and help sales on a monthly basis using what they would put into mortgage payments back into the economy

Families could survive off one income, while one goes to school to learn a new career.

Pay off college loans – or to new high school grads Put away money for college – it'll be there Safe in a bank –

People will have to buy a new car which will help the auto maker industries

Pay for your medical – health care improves- helps relieve all the depression, and stress, worrying across the nation.

Older americans could retire which would open up thousands of jobs for the younger generation in each state and help drop the unemployment crisis and food stamps dramatically.

People could pay off a lot of debt and clean up their credit reports and start off fresh.

Would help people on social security, disability with house, and cars, plus appliances, fix up their houses, and medical payments

Moreover, this would help alleviate millions of Americans worrying, anxiety, stress all across the nation, less violence. If caught using money in illegal activities, money and assets can be frozen and repossessed.

This could drop unemployment down to zero, which would help state budget crisis across the U.S. who are seeking more federal money like ohio and indiana who will run out of unemployment funds in one to two months from now.

State Agencies could shrink budgets in some areas and shift it to where it would help with state budget crisis, and be used for roads, highways and create more construction jobs.

Plus would allow people to start more businesses, buy a truck, van for their business like construction, plumbers, carpenters. Plus buy a business like Joe the Plumber wants to do which will help create jobs and stimulate the economy.

People will build dream houses, and create construction jobs across U.S.

people will start to travel, more vacations, helping hotels, resteraunts, and high travel spots feeling the pinch, plus help flight industry, which could cut off bag check fees

Remember this is for every adult U S Citizen 18+ including the 500,000 folks who lost their jobs this year and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 tax cut.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up or buy it up. why give them money for more lavis h hotels and spa's for their salesman every year.

Here's my rationale.
Sure it's a crazy idea, but seems like it would have a faster and huger impact, plus way way less money than $700 Billion going to banks which is going to bonuses to keep executives on board. If they want to leave, let them, someone new would save company and tax payers less.

How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion. We Deserve It way more than the geniuses at AIG. Plus remember, this plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

It would be like an investment into America and would last longer than 30 days.


AM Deist   December 4th, 2008 12:08 am ET

Rather than bail out the automakers, we should put them on the auction block and let the highest bidder take over the companies. At bare minimum, any company that gets taxpayer money because of mismanagement should totally replace upper and middle level mangers.


Doris   December 4th, 2008 12:23 am ET

Its embarrassing that Nancy Pelosi had to be the one to tell them to make restructuring plans. They should have figured that out ON THEIR own - years ago.


Jerry   December 4th, 2008 12:25 am ET

I agree with Michael Moore as far as the bail out is concerned. However if we can give money to Chevy, who says they can build the Volt which can go 40 miles on a charge, why can't we give money to the new start ups like Aptera? The Aptera gets 150 miles on a charge and 300 miles per gallon as a electric/gas hybrid and is the most advanced and the safest car built in the U.S.?


Scott Young   December 4th, 2008 12:34 am ET

I agree with Michael Moore, but want to expand a bit. It is not right that our government is willing to give hundreds of billions of dollars to these multi millionaires and companies. Why not the average person, or society? If instead of giving all this money to people with money, they should fix the credit margin, anyone with bad credit is cleared, and debts are paid by the bail out. Then people would have the money too buy things, afford a comfortable living, and enjoy life in America. The government is by the people, of the people, for the people, and we the people are AMERICA. Bail out America.


rick   December 4th, 2008 12:34 am ET

NO.


Maria Alexander   December 4th, 2008 12:35 am ET

Yes, but only if the Big 3 are forced to move all their factories back to the US. Americans should have the jobs, not foreigners. This stipulation should be made in the package.


jerome   December 4th, 2008 12:35 am ET

NO


maphound   December 4th, 2008 12:35 am ET

Bail out the worker's, not the company!
Use the money to fund other small companies that already manufacture small 3-wheel cars that get 100 to 300 miles per gallon!


Kiser   December 4th, 2008 12:35 am ET

Yes, America needs a strong industry but we should fire the current execs, retool and start creating WELL DESIGNED relevant product!


Ryan   December 4th, 2008 12:35 am ET

OK so if anyone watched Jay Leno, he has come up withe best Idea yet!!!

so everyone should get money from the governemnt to buy a new car, it helps the car companies cause they get money but it doesn't give them the money directly, plus everyone gets a new car with better gas emmissions and gas milage so better for the environment, it is a win win situation.


Eli Acuna   December 4th, 2008 12:36 am ET

I think That Michael Moore Makes A lot of sence the auto makers have been cutting jobs for a while and now they want more money to let more people go


Steve   December 4th, 2008 12:36 am ET

Let the big 3 file bk and reorganize the companies wthout taxpayer money


Pat Williams   December 4th, 2008 12:36 am ET

No, I do not support the bailout of GM. I tried to buy an EV-1 and wrote emails to Bob Lutz of GM for weeks offering $26,600 dollars , no need for warranties, and they crushed them instead. I will never buy a GM product again.


Sarah J.   December 4th, 2008 12:36 am ET

I absolutely agree with Michael! They have been making the wrong cars for decades. They are not as durable and poorly designed, not to mention they came too late with good MPG models. I believe in the infrastructure solution. It benefits all parties.- Glendale heights, IL


Earl Jackson   December 4th, 2008 12:36 am ET

I couldnt gather myself to support this bailout measure because of the bad management decisions that have taken place over the past 20 years. These companies largely got themselves into this whole over the economic issues that we are suffering from today. This is the 4th year GM hasnt been profitable, its their own fault, not taxpayers.


john   December 4th, 2008 12:37 am ET

Before hearing what mr. moore had to say I really didn't know, however after hearing that some companies plan on cutting jobs, that is the last thing I am willingly to pay to have happen!


Jasmine   December 4th, 2008 12:37 am ET

I like the idea of bundling the big three together and taking them over by the government.


Raffi   December 4th, 2008 12:37 am ET

NO, NO, NO! Don't give them a dime. Tell them to slash the car prices and see how quickly business will pick-up.

Raffi, Glendale CA


Donald   December 4th, 2008 12:37 am ET

I am tired of the media pounding on the word "bailout". the OEM's are asking for low interest loans from the government. we sure were quick to send $700 Million to the fatcats on wallstreet who loaned millions to people KNOWING they could not pay back those mortgages, but did so only for the quick pocketing of money.


Robert   December 4th, 2008 12:37 am ET

No, I do not support the bailout. I think that the Big CEO's need to be fired and put new management in the auto industry to run these companies. I don't want to see my tax dollars used to help people loose their jobs. These CEO's want to fire their workers so they can keep the big bucks. The auto makers need change, not more money.


brian balow   December 4th, 2008 12:37 am ET

Mr. Moore states we must not eliminate more autoworkers jobs... the union is responsible for the current crisis, not the automakers.

Also, how do we get the brightest minds to rescue and run GM with the most expensive workforce in the industry?

Why would the brightest minds work for such a company?


shawn   December 4th, 2008 12:37 am ET

okmulgee,ok I am in agree with michael, the big 3 do need help, however the big 3 need to bring a proposal to the table,leting people go, job loss is why we are in such a recession now,there will have to be some give


Brett   December 4th, 2008 12:37 am ET

The car company management needs to change along with the vision before a loan is given. GM proposed getting rid of Saturn brand, the most fuel effienct brand with hybrids. Why aren't they cutting hummer?


Joe Miller   December 4th, 2008 12:37 am ET

Why don't the Automakers ask the Oil companies for a loan, being that they have benn in bed with them for years and influenced them to build non-efficient autos that don’t sell.


Terence McKinney   December 4th, 2008 12:37 am ET

Larry....PLEASE stop calling this a bailout. It is a LOAN to keep millions of jobs. The financial guys DID get a bailout, and now because Congress is embarrassed they are taking it out on the automakers!


rene   December 4th, 2008 12:37 am ET

Michael is right!
the help is for the Americans not for the idiots who have run these companies into the ground as they have ignored the consumers demands. that is the reason why they can not sell any cars.
let's make cars that people want to buy.


Anthony   December 4th, 2008 12:38 am ET

The big three should have to sell their jets and invest the that money into the company as a stipulation to the loan. They cannot fly first class...give me a break! That is ridiculous.


Ryan   December 4th, 2008 12:38 am ET

Consumers are alreadyy taken advantage of when purchasing cars from the Big 3 ...Why should we have to be taken advantage of even after we drive off the lot with taxes after extended warranties are not even honored.


Gary   December 4th, 2008 12:38 am ET

I am for the bailout of the big 3 automakers, but think the management and objectives needs to be changed. Prioritys have to be made. It can not be business as usual.


Tier_3_Supplier   December 4th, 2008 12:38 am ET

Yes, the Big 3 have been stupidly short-sighted, killing the electric car 10 years ago because it didn't see a 6 month return-on-investment but they were not alone in scripting the predicament the North American auto sector now finds itself in.

The greed of parts supplier American Axle resulted in a 3 month strike earlier this year based upon their need to break the UAW and ship non-union jobs to Mexico and China. Is there even any “American” left in AAM?

The automotive credit freeze on domestic vehicles (namely GMAC) strangles revenue flows while handing paltry new sales to foreign imports.

Falsely cheap fuel prices addicted consumers to unsustainable vehicle payloads and personal debt beyond their means until the speculative pirates on Wall Street drove oil prices high (too high) and began the market collapse.

The combative relationship between labor and management fostering a winner take-all attitude leaves UAW members with picket signs and a sales flow to the more cooperative Japanese work structures.

The Big Three have made major strides in product quality, fuel efficiency and future wage sustainability but have been caught in “the Perfect Storm” of current global market conditions. GM in particular, has a bright future with its electric Volt offering and negotiated cap to retired employee benefits if only it can survive the next 12 months.

Cars are image tied to ego. What does a bankrupt Chevy say about the owner? Does anyone trust a 6 year warranty from a company not expected to survive 6 months? Employees making the vehicles should be paid enough to also be customers of the products they make. Bankruptcy is not the answer for General Motors.

The Obama lead government has the unique opportunity to reset the North American auto sector. Balance government financial support with the retention of sustainable domestic work force levels. Encourage the collaborative overhaul of human and plant efficiencies to forestall plant closures. Negotiate a reduced living wage base for workers with gain sharing possibilities for employee driven improvements. Restore the manufacturing engine to the US economy by becoming the future technology automotive heartland.

Good luck Mr. Obama! The world is watching.


Kenny B (Tewksbury, New Jersey)   December 4th, 2008 12:38 am ET

Hey Larry,
I am in full support of the bailout helping the auto industry for the sole purpose of keeping millions of American jobs. These companies have always operated poorly and I do not see that trend ending. I agree with Michael Moore, we need to have need minds running these companies or else they are doomed (still).


EDDIE   December 4th, 2008 12:38 am ET

Michael Moor is right. Fre the management and then a bail out.


Jim Volstad   December 4th, 2008 12:38 am ET

If the "Big Three" were making cars that people wanted to buy, they would not be in this problem. I travel a lot in my job and rent cars all the time. I am amazed anyone would buy a GM, Ford or Chrysler automobile.


scot   December 4th, 2008 12:38 am ET

We should mandate that the companies have as a goal, production of state of the art autos and mass transit machinery. The top brass should be fired and new management should be brought in, we cannot support bad behavior any more. The money that is being thrown around is not our debt, but our children's children's debt, and we should ensure the environment is as safe as possible for them. Capitalism is not the way, unless it is responsible to the people, not for the individual.


Roger   December 4th, 2008 12:38 am ET

Gov should not bail out. They dug their own hole they need to work their own problems out. If they file bankruptcy gov should buy out big3 and turn them around as gov companies. Big3 should also get rid of unios and pead for all americans to support our auto industry buy only buying US cars with huge incentives to public


Brittany   December 4th, 2008 12:38 am ET

Hey Mike, there's a huge difference between mandating that automakers manufacture tanks and planes and forcing companies to build what the government wants. One is a temporary suspension to defend the nation so that it can continue to survive, and the other is a completely tyrannical control of the market. If you want to talk about looting–why not consider the end to looting of manufacturers. CAPITALISM DOES WORK–but not with endless government restrictions. FDR failed capitalism, and we're all too happy to carry on in his tradition.


Monty Lambie   December 4th, 2008 12:38 am ET

The bailout shouldn't occur the same way we got finagled by the Wall Street bailout. Upper management needs their hands slapped, they need to be shamed, and shown the door. Executive compensation should be capped. Mandates and guidelines HAVE to be put in place if there is a bailout.


Josh   December 4th, 2008 12:39 am ET

It needs to have 3 important rules, cut ZERO jobs, increase hybrid and other alternative fueled vehicles by a large margin, and keep collateral such as controlling stock in the company should they not pay the loan back.


Tommy   December 4th, 2008 12:39 am ET

Dear Larry,

I believe the workers, not the current executive leadership should be part of the focus. Then, an ironclad, secured loan with a proviso that new executive leadership be put in place in consultation with an appropriate governmental executive and the debtor Board be made. Then the companies must refocus along the lines of what Michael Moore is suggesting.


Joe Miller   December 4th, 2008 12:39 am ET

Why don't the Automakers ask the Oil companies for a loan, being that they have been in bed with them for years and influenced them to build non-efficient autos that don’t sell.


David   December 4th, 2008 12:39 am ET

I believe that the big 3 should be bailed out in the fact that they need to save those jobs but i think that the government needs to tell them to make more fuel efficient vehicles.


Patrick   December 4th, 2008 12:39 am ET

No, I don't agree. Americans have gorged themselves on the SUV's these US makers have put out. What about GM's Opel? GM has been able to market popular fuel efficient cars in the EU. The autoworkers are also part of the problem. What about the non-unionized Japanese plants in the south?


Hallie Frazer   December 4th, 2008 12:39 am ET

We absolutely should NOT be bailing out the automakers. In their first presentation to the government, one of the executives "supported" their request by saying that all new employees were being informed that they would come in at half the salary and that they would have no benefits. That's how they intend to 'save' money. – I agree totally with Michael Moore.

Hallie Frazer
Berkeley, CA


Tamara   December 4th, 2008 12:39 am ET

Everyone is calling for the overhaul of the automakers' strategy and operations. In the same breath, Michael Moore thinks taxpayer money should go to saving jobs in the auto industry, essentially preserving the status quo. That's nonsense. The only incentive that private companies have to overhaul is to fail and suffer the consequences of their failure. Do not bail them out–let them fail and THEN you'll see change.


Rhoda   December 4th, 2008 12:39 am ET

I think the automakers have messed up enough to get help- huh? Is that an incentive? No, I thinnk the auto workers and the public should get the break which will also help the automakers. The Governm,ent should buy each taxpayer a car. This will help the recipients, keep the autoworkers emplyed and give badly needed revenue to the Big Dumb Three.

Same goes for the bankers. The government could give each taxpayer $250,000 which will keep people in their homes. The money would be deposited in bamnk accounts for them which would help the banking industry.


Romy   December 4th, 2008 12:39 am ET

I agree completely with Michael Moore...we need auto workers, we need the jobs, get rid of the CEO s making $23 million or whatever...There should not be any taxpayer $$$ given under the current request etc. Romy


Anthony Johnson   December 4th, 2008 12:40 am ET

I understand that we have to stimulate jobs, but my god when do what happened if we gave this money to the people for a change? Wouldn't that allow us to buy and stimulate our economy? If I could pay off my simple house of 87,000.00, I coul buy what ever........


Tomas Pribanic   December 4th, 2008 12:40 am ET

The main excuse from automakers to get the bail-out money is to protect their employees. They claim that about 4.5 million jobs could be lost if one of the big three go under. The automakers are asking for 18 billion dollars from the government. Why not give 1 million to each affected employee and keep the rest in the tax payer’s pocket?


Sheila   December 4th, 2008 12:40 am ET

I believe we should provide funds to the automakers and that it is absolutely necessary and find it amazing that we are quibbling about a fraction of the amount of money that has been provided to Wall Street with no questions asked, no requirements or stipulations, no reregulating and no issues about wages and benefits to banking and insurance company employees. Seems to be a double standard for Hank Paulson's friends versus blue collar Americans.


Tasha   December 4th, 2008 12:40 am ET

I couldn't agree more with MOORE. I as a tax payer understand the support that is needed save the lively hood of our economy, however, the "Big 3" CEO's should not have access to say or distribute the money alotted to the companies. These ceo's obviously lack the ability to budget.


Kenneth   December 4th, 2008 12:40 am ET

Larry, This is crazy!!!! If Michael Moore and us common folks can figure this out WHY CAN'T OUR CONGRESS??????? We should use the money to buy them out OR let them go into BK! What is causing the problem is not being stopped – Foreclosures and reducing the middle-class who spends the money to make this all work, including making people rich. I have a novel idea, LET'S START A ONLINE REVOLUTION TO STOP THIS NOW! NO BS PEOPLE, LET'S START IT NOW AND CREATE A MOVEMENT!!!!

KC in California


Chuck   December 4th, 2008 12:40 am ET

Instead of bailing out the car companies, why not give each taxpayer $50K to buy a new car? This will help the taxpayer, the automakers, and the economy!


Bill Duell   December 4th, 2008 12:40 am ET

Why not give tax payers a voucher from the goverment to buy a gm ford or chrysler instead of direct money to the company at least i would no were my tax dollars went amount to be determined thanks


Sumit   December 4th, 2008 12:40 am ET

If you want to buy luxury, you'll look at premium German brands. If dependability and fuel effeciency is the need, Japanese or korean brands top the list. The big three are caught up in the grey zone with confused brands cratering a mixed market segment.
The big 3 is like a bucket with a hole, pouring in more water will only delay the inevitable. Chapter 11 will force them to revisit and resolve the core issues, which we all aware of.


Arianne Mosley   December 4th, 2008 12:40 am ET

My opinion is torn because I agree with Mr. Moore but even though I live now in Alabama, I was born and raised in Detroit and my whole family has retired or is still working for one of the big three and I don't want to see them get the short end of the stick. Middle class folks didn't create these problems but we always get stuck with the fallout. There needs to be safeguards before we hand them this money that protects the workers from being laid off......or what is the point of helping them????


Sue   December 4th, 2008 12:40 am ET

This is the time in which we should revamp the automotive system. Replace all those in charge who are part of the problem, and have made no attempt to resolve the issues at hand. Fill the shoes with those who have competent, efficient solutions to put our country ahead of the times We should be putting more effort in building alternative vehicles and making them affordable for the average American citizen. Same with the devastation with the hurricane aftermath; we should go in there and rebuild utilizing innovative, forward moving, green communities. Time to start with new fresh ideas.....out with the old.


DAMIEN   December 4th, 2008 12:40 am ET

NO NO NO NO NO... I mean are we serious in this country. Bad business strategy and they run the companies into the ground by making all these SUV's and now we have to bail them out. Come on people first the banks now the Auto industry who's next? It's definitely not small businesses if they have poor management and bad strategy they close and another company or business takes it's place were all not gonna die if a few of them go under we will rebound but why waste out money fixing their mistakes. And I'm sure this will happen but if it does please at least part of the deal should be that all the head people be fired and a new staff has to be implemented. What a joke this whole economy has become and what a joke all these fat cats walk around with loads of money and then talk about their companies going under...WELL PUT IN YOUR OWN MONEY YOU RICH FORD AND CHRYSLER PEOPLE!!!!!!!!!


Ken   December 4th, 2008 12:40 am ET

I think there's an opportunity here for the government to have some input into redefining the US auto industry. I agree with loans in the short term help to save jobs and get them back on their feet, but make it contingent upon long term changes – making more fuel efficient cars and being innovative, to get them profitable again.


Sherry Caudill   December 4th, 2008 12:40 am ET

I'm in favor of the big 3 buyout or "loan." I'm an employee of a dealership and have already suffered. Help us Congress. We need it! I agree that the big 3 need to provide plans for the spending of the loans. But I also agree that cuts need to come from the TOP. Cut these EXECUTATIVES!!! The workers at the dealerships are getting cut, why can't they get salary cuts too!!!


Gary Olsen   December 4th, 2008 12:40 am ET

I disagree with giving these companies money unless it is for the govrnment to buy the companies out right. Then we Americans need to ask ourselves after all of these bailouts, "Are we still Capitalists".

I am pretty certain that the answer is no.


Mike F   December 4th, 2008 12:40 am ET

What about all the foreign cars that are being sold in North America?
Why is there not a cap of how much of them are being sold here?


Jared   December 4th, 2008 12:40 am ET

YES, If the government can bail out AIG then they can bail out the big three. If they were to let them go under many will lose their jobs. But the bailouts should have never started in the first place, that is not the definition of a "free market system"


Xavier Zuck   December 4th, 2008 12:40 am ET

Hi Larry, I didnt completly agree with mike on some other issues but let me say that i think he is exactly right about the auto "crisis" Im truly hoping the expected bail out wont happen because your decision in the US will surely affect ours here. Thank you

Regina Canada


JC   December 4th, 2008 12:40 am ET

I was so glad to hear Michael Moore state exactly what I have been asking... why would taxpayers give these CEOs (the three stooges!) money so that they can cut MORE jobs at the bottom? Here is the situation... give them the money, they keep their life styles, but cut from the bottom.

What if we don't give them the bailout? Wouldn't they then have to go into Chapter 11 and reorganize? The result would then be the same... jobs cut at the bottom. However, the problem would stay in the hands of the people who have a large responsibility for correcting their mistakes.

Either way, jobs get cut. Why would we FUND our own job reductions? IF, after filing Chapter 11, then they still need help, it could then be revisited.

The clown from Ford (not sure if it was Larry, Curly or Moe) is talking about making more energy-efficient vehicles. Are you kidding me??? Have these guys been living on Mars???

Saturday Night Live should do a skit comparing these 3 idiots to who they most resemble – Larry, Curly and Moe!

They were so proud that they actually drove in a VEHICLE, rather than flying in on separate corporate jets. Guys... that's not what was meant by sacrificng at the top.

No to a bailout!!


Neil   December 4th, 2008 12:41 am ET

Not without following conditions
1) No job cuts
2) Concrete plan for more fuel efficient cars/Hybrids/electical/mass transit.
3) Top management need to let go bonuses and take pay cuts till they turn things around

I agree with Michael Moore and most part of the plan he mentioned.


brian balow   December 4th, 2008 12:41 am ET

Mr. Moore is so critical of the management of the american autoworkers... yet we have the highest paid workers?

How can they build more competitive cars as Mr. Moore desires, when the unions will not allow it?


D. R. Lebovitz   December 4th, 2008 12:41 am ET

I agree with Michael Moore, why does Congress have the auto industry under a microscope. Is this only to break one of the largest unions? Get rid of the top managers & CEO's! Why did Congress hand over $726 Billion with no oversight and no questions asked?


Anastasia   December 4th, 2008 12:41 am ET

I definitely do not support it. I am all for fairness. The government is using my money and my parents money to bail out failing business, but won't give me a penny to help me pay out my loans (I will be in $ 80 000 debt) when I graduate. But don't politicians claim that the future of this country depends on us, young and educated generation?


Lisa   December 4th, 2008 12:41 am ET

I don't think the taxpayers should have to bail out the big 3 car companies, I think that the oil companies should be the ones to pay the bailout. It takes oil to run these vehicles and vice versa. More employees would keep their jobs,. If the government takes the taxpayers money there is no winning situation. The poor will not be able to have a car, the middle income people will not be able to pay their payments each month. What happens then, who is going to take care of the average person who depends on vehicles to get to work, school, doctors etc.


M.T   December 4th, 2008 12:41 am ET

The automakers have been making lousy cars for the past 30 years, and have neglected to listen to common sense. If they hadn't been wasting resources making hundreds of different models every year – and had concentrated on a dozen GREAT cars they wouldn't be in this situation.

No, they shouldn't be bailed out.


dickie powell   December 4th, 2008 12:41 am ET

surely why isn't it those oil company's that the car suvives on bail out the auto industry . they make billions in profit! and say that their profits are going into reserch ...yes


Andrea , Michigan   December 4th, 2008 12:41 am ET

How can people compare salary of Toyota workers to the Big Three? We don't have federal insurance like other countries. Of course when you compare the two our automotive workers salary is more. Is it only the companies, or the system we live in? No one mentions this.

Even today 2,000 American Automotive Steel workers got the news their plant is closing down. This Bailout for the Big Three doesn't just affect these companies but the state of Michigan, the middle class, and the little people!


Wynn Kenny   December 4th, 2008 12:41 am ET

I think that the loans should be granted with the condition of removing most of the redundant and ineffective managers in the big three. With the savings they might find productive jobs on the factory floors.

Wynn Kenny
Vancouver, British Columbia, Canada


Cherrionne   December 4th, 2008 12:41 am ET

HELL -2- The NAW !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1


Chuck Pliske   December 4th, 2008 12:41 am ET

I support the bailout, but ONLY with the complete management swap. I don't want any of the original management team at any of the car companies!


Mary Bommarito   December 4th, 2008 12:42 am ET

So by bailing outhe big 3 swe are also bailing out Canada, Germany, Mexico etc., where ever the Big 3 have plants. They have taken the jobs over seas and out of the country as it is. If our governement bails out the automotive companies they should bring back the jobs that have gone overseas and start employing the American citizens who are putting up the money


Nadia   December 4th, 2008 12:42 am ET

No, but I would support a project for public transportation creating jobs and giving opportunity to people use other means to go to work. I live in the famous with traffic Los Anegels and fewer cars around sounds great.


jessica bee   December 4th, 2008 12:42 am ET

i believe that this whole bail out thing is a real mess. tax payers shouldnt have to pay for other people's mistakes. if everyone handeled their own buisness then i think we wouldnt find ourselves in this problem. buisnesses like GM and others are useless companies. the cars they produce are not enviormentally fit and are huge gas guzzlers. if GM really wants a bailout then they should show improvement in cars by making hybrids or even finding new ways for cars to use less gas.


Shane Gorrell   December 4th, 2008 12:42 am ET

I totally 100% believe what Michael Moore is saying is correct!
but there are so many issues, Michael moore doesn't have enough time to cover these issues. He's correct with stating that the car companies need to change the type of cars they are building!

people all think the bail out is the answer just because they are too lazy to make the changes needed for are country's survival.
if we keep bailing out, then the large companies will never learn.
it's like the story cry wolf... I think the country would do alot better if they would use the money to loan to small independent companies to build start up companies for fuel efficent autos.


shawn   December 4th, 2008 12:42 am ET

michael like you said the big 3 manufactoring fuel effc, etc, will the big 3 lose money, is this an issue and why they not wanna do this,shawn tulsa,ok


Matt DeBoard   December 4th, 2008 12:42 am ET

The Big 3 auto makers MUST meet their maker. They do not deserve any help from the government. There are many thousands of US workers building cars in the US for foreign-owned auto companies that are making, what they consider to be, great money. They are happy with their jobs earning roughly $25 per hour and producing profitable products. The UAW killed the goose that laid the golden egg with their overbearing $75 per hour average compensation and uber-liberal retirement plans. My violins are NOT playing overtime.


Susan, Mi   December 4th, 2008 12:42 am ET

I am totally against a bailout for the auto manufacturers. First of all we cannot afford it. And, who will be next to go to DC with their hand out. They deserve nothing. I can assure you that I need my money way more than they do.


Bonnie Carpenter   December 4th, 2008 12:42 am ET

I do not support a bailout with out conditions. The Government bailed out various banks with no condiitons and it was like putting water in a bucket that had a hole in the bottom. They gave the money without making right what caused the problems in the first place. As a taxpayer and hard working American citizen,I am furious and sickened that the working people are expected to carry the rich when their greedy plans failed.
The same with the auto industry. They chose to cater to the oil companies instead of producing fuel efficient cars and now they are crying for the people to bail them out. There has to be conditions attached that solve not only jobs but also mass transit and global warming.

BCarpenter
Emeryville Ca


Matt   December 4th, 2008 12:42 am ET

The financial industry received govt financing as a response to the crisis within that industry, which shook many institutions to the ground. GM has been slowly driving itself into the ground for years. If they received a bailout, it WILL NOT MAKE A DIFFERENCE. Titanic already hit the ice folks.


anthony graves   December 4th, 2008 12:42 am ET

I was born and raised in detroit and for years there has always been a most obvious attitude that there were the have and the have not and the city is a reflection of the big there ability to be fair. NO


Vartan   December 4th, 2008 12:42 am ET

Auto bailout is necessary because it is pshycological at this point. If no bailout, the effects on the economy will be devastating.


Charles   December 4th, 2008 12:42 am ET

Hell no why fix a system that is dysfunctional.


Amy   December 4th, 2008 12:42 am ET

I can't see how America can possibly support a "bail-out" for the American auto-makers. They are in the position they are in due to greed and their inability/ unwillingness to make cars that are competitive with Toyota, Honda, and Subaru products. Their vehicles are too big, not fuel efficient, and poorly built – they simply don't last.

I would agree to a LOAN to the auto-makers if they can come up with a workable plan to become competitive in the US market. They need to lead the way in the American market, not follow or fight standards... Exceed fuel and safety standards, build a car that lasts more than 100,000 miles.

I don't know how the government can possibly oversee how the money is being spent, however.


Scott   December 4th, 2008 12:42 am ET

Being a non-union Detroit auto worker has put me in a position to view how the big three and the UAW operate. Union practices are impracticle and almost insane. Moore is correct. Don't let them die, but hold them by the ballse. Viva Detroit!


joshua in ft hood   December 4th, 2008 12:42 am ET

Larry of course the govt has to bail the big 3 it would be suicide if we dont. However there has to be stipulations, starting with opening new plants here closing the ones in foreign countrys, make better fuel effecient cars and put a tax on foreign cars if somebody wants a toyota over a ford then they have to pay the extra tax for it this will force more consumers to buy american


Scott Young   December 4th, 2008 12:42 am ET

Seriously, how in the right mind of any sane race of sentient beings is it right to spoon feed these babies with golden spoons off platinum platters? I have a family of 5 children, my wife and self. We struggle everyday to barely make poverty level. We get an average of 13000.00 a year, if that. And we don't complain. Why is everyone else? In my younger years I may have made some financial mistakes with my life, but as I said, I was young. My beautiful children don't deserve to suffer. We have no money for presents this Christmas, and our utilities are behind. The economy really stinks. My wife and I both attend college in Albuquerque New Mexico and Top Ramen is what we usually feed our kids and selves for lunch. In fact, the internet im using will be disconnected by December 11 because all our money goes to school, and our children.


glenn McMahon   December 4th, 2008 12:43 am ET

no


Roberta Clifton   December 4th, 2008 12:43 am ET

I agree with his comments. No more lay offs for American workers. Like he said, change manageent and rebuild the company with that money. Those that fail to manage money correctly like the avg american are forced to as banks contol the money. As an American Citizen, we need to step up and take responsibility. Government needs to be afraid of the American people not the other way around. Put the money back into the hands of the middle class and let them put the money where it needs to go with the theory of supply and demand taking effect.


ianan   December 4th, 2008 12:43 am ET

No bailout do what any other business would have to do.
Sell all the cars on craigslist. I will buy for 10 cents on the dollar and
Pawn the rolexes


Mike Trafecanty   December 4th, 2008 12:43 am ET

I don't think Michael Moore makes a good spokesperson for my position. It's difficult to tell if he is being funny or true. The rescue plan for the auto industry should be ignored. Let the market decide what happens to these companies. The government can not run a car company and is too restricted by red tape to be flexible enough to respond to the quick needs of a changing market.


Stephen Mollner   December 4th, 2008 12:43 am ET

Absolutely! Not only should we bail out UAW workers and the Big 3, but also, we should refund lost pension and retirement funds, refinance all home loans to 3% at no charge, forgive all current credit card debt, provide a complete tax refund to each worker for the next 3 years, plus provide each family with a $20,000 bailout to spend as they wish, and reset the table for everyone.


Vishu   December 4th, 2008 12:43 am ET

Instead of a bailout, I do not understand why the government does not approach this as other investors do – invest the money in the car industry by insisting that they present a successful business plan, and obtaining an equity in the company for the money invested so that we can get the returns on the investment once the companies become profitable.


Phillip   December 4th, 2008 12:43 am ET

They should bail them out on one condition that they bring all there shops back to the United States and keep them here!


Joan   December 4th, 2008 12:43 am ET

The auto industry should not be put on the dole. Welfare??? you have got to be kiding..Michael is absolutely right. They are producing the wrong type of vehicle for this century. We need to let them be accountable for themselves. Their sales in North America are down, but up worldwide. No support by government for this industry. The country is becoming a socialist welfare state, trying to save the world.


Eric   December 4th, 2008 12:43 am ET

No, the "The Big Three" should not get a bail out, use the money to bail out people who are about to forclose on their mortgages due to outrageous interest rates. Use the dollars to put those responsible for the mortgage crisis behind bars, and don't forget to set aside some money to build a new prison to put these people in. By the way Larry, any idea how many people have been charged yet in this mortgage crisis?

Kind Regards,
Eric from Canada


Ben Kinney   December 4th, 2008 12:43 am ET

--------------------------–

Since when did a capitalist economy start rewarding companies for poor management, lack of innovation, and bad product decisions by giving bail outs.

The economy is still a matter of supply and demand and survival of the fittest. If the big autos go under americans wont stop buying cars. Another giant will rise from the ashes.

Let them go under or at least have to fight to survive. Sometimes you have to loose almost everything before you start making the right decisions.


nicole hall   December 4th, 2008 12:43 am ET

larry.. what if instead of giving the money back to the car makers.. what if you give it back to the americans that are paying for it? i think if you gave them either in a check or certificates for cars.. we would essentially be helping everyone involved... and our money would coming back to ourselves instead of going to some rich guy in an office somewhere.


Sam Carlino   December 4th, 2008 12:43 am ET

Larry,

Is it possible that the government, or the manufacturers themselves finally draw a line in the sand with the UAW? They are sucking the life out of the BIG 3. There proposals to help are weak! Why can't they accept normal wages, and benefits like the rest of the country? If they continue to be a "gang" amongst the BIG 3 then no bailout to them! If they decide to be fair, then serious consideration should be paid as we need to maintain our own industrial infrastructure!


Jack on Vancouver Island   December 4th, 2008 12:43 am ET

Larry-why has the subject of GREED not been raised-officers paid 24 million a year !!!!! ask the officers to invest thier money in common stock now before taxpayers and what about the hundreds of millions invested by the big 3 in overseas plants =Jaguar !! Hundi !! etc.


Joel   December 4th, 2008 12:43 am ET

I am very conviced that, the goverment should give the money to us the people in form of credit o voucher to buy those cars so we can affort to buy new cars, but never give to them (the CEO companies) because they would take the money and cut more jobs and do nothing about this.


Justin   December 4th, 2008 12:44 am ET

Absolutely not! There are many companies that have declared Chapter 11, have been forced to rethink how they do business, replace the management that got them in trouble, and find ways to expand their market share. If we give them money, they won't change a thing. The government doesn't know about cars. Allowing the government to make the business decisions would be worse than what we have now. Let them declare bankruptcy, bring in management from different industries that know how to look at the problem differently, and let the companies figure out what people want in their cars. They will come through it. I, as a fiscally responsible adult that is careful with my spending, don't need to let my tax dollars go to someone that has proven that they will just waste it.


Audrey Montgomery   December 4th, 2008 12:44 am ET

No I do not support tax payer bailout. The greedy CEOs and their supporters have done enough damage. Time for a CHANGE.


Chris   December 4th, 2008 12:44 am ET

I think you need to take in account the millions, yes millions of employees that will be affected if any of these companies go down. That is something that America cant afford right now. People are already struggling, dont make it worse. Give them what they need, or this entire country will crumble! Believe that.


Scott G   December 4th, 2008 12:45 am ET

I'm a Ford Focus builder/U of M Dearborn student. We need this bailout under the condition that jobs are kept. The position the workers are in isn't their fault. Emotions vary here. People are unsure and meticulous about spending; hours are being cut. With security of our company's longevity the over 3000 workers in our city will make grand contributions to our economy and everyone will thrive.


Peter Caryotakis   December 4th, 2008 12:45 am ET

FORD thought up the TH!NK, an electric car now produced by Norway. Bring it home and produce it here. 100 miles on a charge. 70 miles per hour. Four people. I'm buying one as soon as they get here. I'd RATHER buy an American electric car to be powered by our solar cells!


Roger from Michigan   December 4th, 2008 12:45 am ET

I don't support the bail-out with out extreme controls on how they spend the money. We bailed out Chrysler once, WHAT DIDN'T THEY LEARN. Once bitten twice shy my friend. I agree with Michael Moor.

Someone doesn't know how to stay with the industry. American car builders are about 6 years behind in making economy cars. When gas went up so did the size of the cars. What Gives.


Kenn   December 4th, 2008 12:45 am ET

Larry, I completely agree with Mr Moore's comments. I would love to ditch my vehicle completely. The auto companies should stop producing their inefficient cars. The foreign designs far out perform american cars anyway. Instead they should be producing comprehensive mass transit rail systems in the cities of the USA and interconnecting them with rapid rail systems. Many cities and countries around the globe have advanced mass transit rail systems that operate very efficiently.
A great example is Miami, Florida. Traffic is absolutely horrid. One spends easily 3 hours commuting daily. The corrupt Miami Gov. has wasted time and money repeatedly studying the fix for the lack of realistic efficient transit systems and the only fix is to widen the roads with more lanes and throw more buses onto the roads which are already clogged.
We as a nation need to stop the carping and get to the work of building a greater and efficient country-wide mass transit system and make it possible to eliminate the need for owning a vehicle at all.


Susan   December 4th, 2008 12:45 am ET

We should structure a buyout not a bailout. The taxpayer should get equity in companies that are rescued so that as the economy comes back, the taxpayer is repaid and profits.


Tim from Arizona   December 4th, 2008 12:45 am ET

These companies need the money but not the CEO's. I would approve the bailout but the money can only be used for approved activities. That would be like Michael said, we need to focus on mass transit and 21st century vehicles. Money can only be used for these types of ideas. The bailout assets would be frozen from being used as payroll for any managment. Jobs need to be secure for the middle class workers. This money needs to be for restructuring the transporation of America and that also means the restructuring of the Big 3 Manangement Staff. Clean house and lets go back to the drawing board for cheaper and more eco-friendly automobiles.


Bill Latka   December 4th, 2008 12:45 am ET

It is in a company's interest to make money. That's what they do. Doing the right thing like making fuel efficient, electric, plug-in hybrids is not as profitable as making big gas guzzlers. We need to nationalize the auto companies so they can be allowed to make cars at a loss that serve our (the people's and planet's needs). Use the bailout money to buy the companies and have them make what we need.


David Adams   December 4th, 2008 12:45 am ET

I think Michael Moore has nailed it.

If the American government thought like an entrepreneur they would take the opportunity to buy out the BIG 3 automotive companies for pennies on the dollar. Axe all the upper management that has no clue how to run the company, and then implement a new management team to operate it right.

I think AMERICAN MOTOR COMPANY would be an appropriate new company name.


B McGee   December 4th, 2008 12:45 am ET

why not bail out the big three,we've subsidized the foreign auto makers,to the hilt.,...Maybe we should ask Toyota,Nissan, Mitsubishi & others we've subsidized , to repay our government.


ed   December 4th, 2008 12:45 am ET

i think we should give them a loan.we gave the banks and investment co 800 billon and didn't have any say so about that.thanks


Adrian   December 4th, 2008 12:45 am ET

No I don't support the bailout, the top three auto maker should have been less capitalistic and more universalistic. We are living in a world that is not able to supply our current consuption of oil. These automaker should have been thinking and making cars that are hybrids or electric that the middle income population can afford. This would keep the auto makers from going bankrupt and have people keep thier jobs.
Give the bail out money to schools, seniors citizens, and to a universal health care that would benefit every one, not just the auto makers. They are so selfish!


Pam   December 4th, 2008 12:45 am ET

The government should have subsidized the invention and production of alternative vehicles like GM's electric car (ie Who Killed the Electric Car film) years ago–the "free market" oil industry moguls have strangled such progress. Now that we've reached collapse as a result of greed and short sightedness, it's time the government twisted the arms of the auto industry to get it right after the fact...with tight accountability and conditions...it could be framed as a "pay as they go" plan–new visionary CEO's need to be assigned on a probationary basis to replace the fatcats who've profited their industry into this ditch.


Leslie Lemieux   December 4th, 2008 12:45 am ET

I do not support a bailout of the big 3. I am sorry, truly, for everyone that will lose their jobs. Where would we be if Detroit made computers? We need innovation, innovation, innovation. Th eonly changes Detroit has ever made to improve fuel effciency or greener production have been legislated, not created by themselves. I would rather give 25 or 34 billion out in grants or venture capital investments and see what INNOVATIVE Americans can come up with. Detroit has lost its ability to innovate, create and live up to realistic supply and demand schedules.

I know this is a big job loss for America and LOTS of middle Americans, but even by offering the big 3 loans, we are prolonging the inevitable. Without true innovation, invention and an eye toward the future (with its limited resources, requiring recyclable materials and less fossil fuel usage), the auto industry in America will die anyway. Let's take the full brunt of the pain now, and move forward with investment in alternative, green and earth-friendly ideas for transportation.
Leslie, Livermore, CA


Zoe   December 4th, 2008 12:46 am ET

Where is the accountability? The industry has been going downhill in the past years. Senior mgmt needs to be held accountable. Why should the government be responsible for corporate and individual poor decisions? Would the aviation industry receive a bailout?


sam   December 4th, 2008 12:46 am ET

Hi:

do we need three companies can they be conselidated


Brenda   December 4th, 2008 12:46 am ET

I support the bail out but with a lot of restrictions. I agree with Micheal Moore, GM should not lay off more people, and none of this money should be used for any of the factories they are building or have outside the US. I am a Ford Employee.


Mark   December 4th, 2008 12:46 am ET

Without complete transparency from the automakers about what they're going to do with the money, I don't see how any taxpayer can back the plan. Maybe I'm just ignorant on the subject but why can't the government use the money to but the companies (as Michael Moore suggested), use federal funds to help turn the companies profitable, and then sell it back to the private sector for a price that would return a profit to the government, and more likely than not be a bargain purchase for an investor?


Debbie from Winchester,IN   December 4th, 2008 12:46 am ET

I say "no to the bailout. Let them sink or swim like the middle class people are doing."


Jeremy   December 4th, 2008 12:46 am ET

The American automobile companies deserve the bailout FAR MORE than the financial institutions. I drive a 2008 Chevrolet Malibu- it is a world class car, looks great, has a great warranty, gets great fuel mileage and was a bargain.
The car companies, foreign and domestic are suffering due to the financial crisis- all of them. The banks are at fault here as well.

BUY AMERICAN AND HELP THESE COMPANIES.


Al   December 4th, 2008 12:46 am ET

We cannot allow this large a sector of our economy fail. At the same time, we cannot reward the incompetence of the current management. I suggest that, rather than bail them out, we buy controlling interest in the auto companies and then outsource their management to the Japanese.


Gary - Chicago   December 4th, 2008 12:46 am ET

Let's do something good for future generations....Start developing High-Speed rail systems local and national with this bailout money.
The Auto industry is a broken model of transportation and is certainly not the future of this nation.


Merikay   December 4th, 2008 12:46 am ET

Isn't it true that the Big 3 could have produced a 50 mpg auto 30 years ago but were pressured not to by BIG OIL? So here they are in this fix and expecting a handout. I say NO.


Jessy   December 4th, 2008 12:46 am ET

I think that the Big Three does need a bail out!

I am from Michigan, my grandfather and most of my aunts and uncles have all worked for General Motors. I think that people don't realize how bad our economy will get if we don't help out the car companies. Not only the manufacturing jobs will be lost the dealers and suppliers will lose jobs. It makes me cringed that the American economy will be relying on foreign cars in the future if the big three go bankrupt. It is really scary around Michigan almost every other person I know is effected by the auto business and most of them are losing their jobs. I don't think that the CEO's deserve to get a cent of our tax money but we are in a situation that we can't let millions of people lose their jobs. It will cripple what is left of our failing economy. I don't understand how Citibank and the rest of wall street can get a bailout without getting questioned, however, Congress is grilling the Big Three.


rashid ghani   December 4th, 2008 12:47 am ET

Yes, we can help in bail out with tax payer dollars,but the auto industry management team has to be trimmed down and salary, benefits and bonuses must be under control and governed by the tax payers nominated Boards

question: Who killed the electric cars?


Brian   December 4th, 2008 12:47 am ET

I'm from Ohio, and I would support helping out the auto industry but with strings attached. First they must abandon their allegiance to the oil industry which has dictated the fuel effeciency of cars manufactured in this country. My wife and I are in the market for a new car, but there is no way we will invest in a car that only gets 30MPG. These companies, if they weren't so loyal to the oil industry, could have been making super fuel effecient cars by now. The 1973 oil embargo should have been the rallying point for these companies to develop and make cars & trucks that get greater than 75MPG, but both our auto industry and both Democrats and Republicans made the decision to choose the money from the oil industry lobbyists and not mandate much higher fuel effecent standards beginning way back in the early 70s. I find it questionable as to why the airline industry was screaming bloody murder over the high fuel prices that are destroying that industry, while our auto industry is silent while their industry and market is also being destroyed by high fuel prices, why is that?

They must make a written committment to bring back all the jobs they have exported to cheap labor countries like Mexico, and the UAW members, rank and file must make consessions too. The average UAW worker makes $73 per hour, there is plenty of room for them to give to help these companies to survive and thrive. Finally, the business model should also include the development of a technology that can be applied to existing vehicles to increase fuel effeciency such as aftermarket products.


Chip   December 4th, 2008 12:47 am ET

Chrysler Corp. isn't even US owned. Am I wrong? When and why did they start calling themselves just "Chrysler" again?


Scott   December 4th, 2008 12:47 am ET

The big 3 dont deserve a dime of taxpayer money. Over the years they have done nothing but cut jobs and extort the american taxpayer. If this bailout goes through whats next? Are the taxpayers required to always compensate for big business and government mistakes?


Cindy Havko   December 4th, 2008 12:47 am ET

I agree with Micheal. He has so much common sense that isn't so common with CEO's. Really, do the CEO's truly care about the middle class when they make millions and have private jets to get to work or vacation? Let's help the auto workers, but let's get rid of the CEO's. What happened to the days when people actually worked their way to the top to become the CEO's Where do they get these CEO' ? What understanding do they have of being in the middle class, working 40 plus hours a week just to feed, cloth, and house your family...forget college?

Cindy Havko

Spokane Washington

PS: keep up the good work Micheal, we need more outspokane artist such as yourself.


Dee Capozio   December 4th, 2008 12:47 am ET

Absolutely am not for bailout. Why should we. bail out companies the screw up? Let them borrow the money from the union.


sandie   December 4th, 2008 12:47 am ET

I do not agree with this bailout, there are just as many people losing their jobs in the private businesses that are failing. It would cost the government less to safe the small businesses, and probably save just as many jobs.


Gene   December 4th, 2008 12:47 am ET

Let the Big 3 auto companies get loans from the Big 3 oil companies. Afterall they have been building these gas guzzling cars and hoping that cheap oil would last forever. GM even sold the battery technology to Chevron. Well there is a price to pay for not having vision.


Justin Hansen   December 4th, 2008 12:47 am ET

Question....Why does the auto industry have to file detailed restructure plans for 32B but the the banks only have to fill out a 2 1/2 page form for 8 trillion????


Alicia   December 4th, 2008 12:48 am ET

Mr. Moore, do you know how many GM vehicles are hybrid? Do you know how much money has been put towards vehicles as such? No you DO NOT!!! So maybe you should stop talking about what you don't know. You aren't a part of the company!!!

Edmonton, AB


Bonita Everage   December 4th, 2008 12:48 am ET

Hello Larry,

We the people have demanded more money, benefits that truly exceed what we really need. Greed has helped bring us to where we are now. We should not be entirely concern with the loss of jobs until people of all levels of position on the work force decide to stop being so greeding and gaining profits from others.

With that said their should be no assistance for the 3 auto makers and let the cards that were dealt fall. Right on their butts. Can the CEO contribute any large sum of money to assist at any level by selling their assets made from the past wealth of the companies.


Shane Gorrell   December 4th, 2008 12:48 am ET

Thank you,
Michael moore
Make a movie on this issue!!


Martin Stolzenberg   December 4th, 2008 12:48 am ET

Hi Larry, Hi Michael,
I agree with Michael that we need to inject the money to save the entire auto industry infrastructure and it's related jobs. There should be no way that the current management should be administering these funds.

We need to get reasonably paid management appointed by the government with the right skills and the companies interests at heart to turn things around. GM, Chrysler and Ford need new direction, extensive effort needs to be invested in Electric and Hybrid Vehicules with very tight timelines. We can kill two birds in one stone; helping the big 3 turn it around and reduce foreign oil dependency.

The Government will need to set guidlines for these companies which will have to be closely monitored by overseers.


Charles   December 4th, 2008 12:48 am ET

If the American Auto makers go down so will this economy maybe the next great depression.


Tim Leeny   December 4th, 2008 12:48 am ET

The old topic of who killed the electric car keeps me from saying yes. I am tired of the excuses the big three have told us. I say NO to the bail out!


Jason   December 4th, 2008 12:48 am ET

debt is are problem and the goverment is in thre most debt already keep spending and it will all crash


BILLI HANLON   December 4th, 2008 12:49 am ET

Towards the end of 2003 I began the process to purchase a 2004 Toyota Prius. I cried as I signed the papers. I wanted to purchase an AMERICAN made automobile but I could NOT find one that could compare.

NO, do not bail out the big 3 if they are going to "do business as usual."

YES, help them to retool for mass transit and so forth.


Dave Raynor   December 4th, 2008 12:49 am ET

That's the spirit Audrey!!!!


Ron   December 4th, 2008 12:49 am ET

Canadian viewer witnesses US join the ranks of socialist nations.

The hallmark of a capitalist nation is a free market. Companies survive and fail every day. That is what builds a strong economy. The industrial sector will recover as will the autoworkers who would be affected.

It's so sad to see the US deepen into a decline with yet ANOTHER bailout.

What is next, nationalizing these companies? I hear Hugo Chavez did so with Brazilian Oil.


Chuck   December 4th, 2008 12:50 am ET

Here's a way to help the taxpayer, automaker management, auto worker jobs, oil industry, and the economy! Instead of bailing out the car companies directly, just give each taxpayer $50K to buy a new car!


kaka   December 4th, 2008 12:50 am ET

No No and NO !!! Our money it isnt a food for the cows! We dont have to give our money for the big guys, we worked hard and pay taxes not fear. NO money for the cows.


Chris   December 4th, 2008 12:50 am ET

I highly oppose an auto company bailout. these companies have caused their own problems through mismanagement and giving them 34 billion dollars is only prolonging the inevitable that these companies need a serious management change and should fail. i dont want them to get a dime of my tax money. how can we be sure they will not take our money and just keep going along business as usual. they have not listed to us when we demand fuel efficient vehicles. they have fought every step of the way raising fuel efficiency standards because that would mean they actually have to engineer better vehicles.


Charles Johnston   December 4th, 2008 12:50 am ET

CEOs of the three automobile mfg have done nothing to warrent support from the taxpayers. We need to allow them to slide into the failed situation thier business decisions have propelled them. The burden of unfunded pensions and healthcare for retireees is a result of unrealistic demands by the workers coupled with unbridled upper management compensation allowed by unconcionable boards of directors who failed in thier responsibility to stockholders and now ultimately to the taxpayers. NO BAILOUT FOR THE AUTO MFG--What security do they intend to offer if this is a loan. Are the taxpayers in first position on any loan????


Mary Bommarito   December 4th, 2008 12:50 am ET

By bailing out the Big 3 we are also bailing out the other countries where all the jobs have gone. They need to bring the jobs back to America if they have the nerve to ask the Americans to help them get out of this mess


Scott Young   December 4th, 2008 12:50 am ET

You know what else, the power industry is in complete disarray. Solar panneling and power is so the right thing to do. We need to develop solar power storage cells. This way, we could use, distribute, and store the energy. Proceeding sunsets, convert to whichever power methods are used currently, until we can completely eliminate un-neccessary power sources. Which in my thinking is definately destroying our planet.


Mike   December 4th, 2008 12:50 am ET

The bailout must happen. If they fall, the US will be in the great depression again. If people didnt buy chinese/japanese we wouldnt have this problem.


Adam Q Abadie Sr   December 4th, 2008 12:50 am ET

No Help for a bunch of rich folk.I don't think we should have given any money to the stock market either.CEO's will just waste it,and the government have/will apoint commisions that will absorb 30 percent or more of the bailouts beforte it ever gets to where it's needed.Thanks for your time.

Capt Adam


TMax   December 4th, 2008 12:51 am ET

People did not protest against the Bank Bailout because their money is sitting in there. But They do not care about the auto bilout and oppose them becasue they do not lose anything.

Anyway the cars made by them are not bought by us. So it really does not matter.

Having said that Does any of the 3 auto majors can stand up and say that their cars are better than the Toyotas, Hondas, Mercedes, BMW , Volkswagon ?

As long as they cannot make better cars , they cannot survive, The bailout is a temprory patch solution. The government cannot bail them out every 3 months. Alternatively government should just buy them and merge as a public sector brand.


Kathie McCullough   December 4th, 2008 12:51 am ET

My husband, Tom and I have been watching you and Michael Moore. We agree that something has to be done, but the one thing that has not been discussed is-not only making cars fuel efficent, but keeping them at a price the average person can afford, especially with the economy the way it is.. Older Americans or people who are living on a budget need to be considered too.


Shabnam Praveen   December 4th, 2008 12:51 am ET

No, we should not bail them out at all! They have made so much money all these years at the expense of the hardworking American people and now just because they can't make a profit, they want to punish the same American people. Where is the logic of this? This is how they can manage their company to turn a profit: 1- make better cars that are more energy efficient and more suitable for US markets. 2 – cut down on the executive's salaries, benefits and perks. 3 – encourage the employees to take ownership of the company. 4 – what happened to their assets and profits from prior years?, why can't they re-invest? 5 – No bailout! make them take a loan and be accountable and responsible for paying it back. 6 – ask them to provide a plan to achieve this over the next 5 years.
No one is bailing out the middle class hardworking American people; why should we bail out these super rich, non-responsible, idiots who let themselves get in this mess in the first place????


Colin Waddell   December 4th, 2008 12:51 am ET

GM has cultural issues that go beyond the pale. Their relations with dealer "Partners" are beyond bizzare. Their attempts to control the dealer body have resulted in what will eventually become a revolt. They have had the audacity to take control of 85% of dealers parts inventories. Of course, those who don't comply, lose all discounts and return "privledges".
This is just an example of the manufacturer/dealer relationship that exists today.
For this reason alone. I feel that the bailout,loan, whatever should be denied.
Let's concentrate on support for the displaced workers while the "free enterprise" system works out a correction.


D.Stoodard   December 4th, 2008 12:51 am ET

Why don't the oil companies bail the Big Three out? They've been in bed together all these years scratching each others backs. The oil companies should be forced to do the majority of the help!


Oscar Gallardo   December 4th, 2008 12:51 am ET

Why the auto industry has to get this especial treatment?? Can they work out their problems like the aviation industry?? Airlines that go under chapter 11 protection when they came back they do it learning the lesson and re-estructured.


Barbara   December 4th, 2008 12:51 am ET

Yes, but stipulate:
1. No stock dividends will be paid until the loan is retired.
2. A lien is placed on the company's assets to guarantee repayment of the loan.
3. Employee's pay will mirror the national average teacher's salaries; based on years of service.
4. A salary cap for management at $150,000 yearly, including stock options and bonuses.

Unemployed Certified Teacher
Chicago, IL.


Scott G   December 4th, 2008 12:52 am ET

If we don't support the bailout, and an auto company goes under, we all lose. Auto companies outsource parts from local factories where non UAW workers work. Transport companies earn from vehicle transport. Auto companies have created an interdependancy. PEOPLE WILL LOSE.


Maria   December 4th, 2008 12:52 am ET

No, I do not support bail out. Hundreds of people are unemployed. How are they going to sells cars and turn profit?. First it was $25 billion, now is $35 billion! This money should be used to create jobs.


Shane Gorrell   December 4th, 2008 12:52 am ET

our country is always taking the easy solution,
It's time to make the change, and support the greener solution.


ed ,vancouver canada   December 4th, 2008 12:52 am ET

35 million?not enough.The government gave citi bank that much and they still laid off 50000 people.The government needs to BUYall three and give shares equal to the value to all citizens.100 billion equates to 300 dollars each.That is the only way the taxpayer will ever see the money.When the companies are sold later on,the profits go to the taxpayer.GM shares were 40 times higher than now,so imagine after a turnaround,you got 12000 dollars? The alternative will not be good.Collapse of the domestic auto industry will cause a depression.The government needs to buy these companies outright and fire all the top management and start over.Electric vehicles will cause a huge job loss in the oil industry,so the transformation needs to be done slowly.Keeping these millions of jobs is the priority.Producing the fuel free car is next.The oil and gas workers can be retrained as technicians.The gas stations are all low paying jobs anyway.


Bob in N. Carolina   December 4th, 2008 12:52 am ET

Good evening Larry.

I don't agree with the Feds awarding the BIG 3 any amount over what is absolutely necessary. There must be "a sound plan" coupled with "concrete accountability" associated with this so-called bailout.
Yes, on one hand, I can see the negative impact the "industry" would sustain by not receiving "some" help even though the auto makers have created this themselves over the years (this is an entirely different discussion). On the other hand, there are literally millions of working americans that will suffer as a direct result thus creating a worse situation.
I support the bailout only if the funds are used to settle current debts, promote the R&D of and manufacture of any type of vehicle that would best suits the environment, now, and in the futre.
I do not support the bailout if the funds are used in such a way that benefit upper management and thier lifestyles, including bonuses, pay increases, retreats (AIG) and so on, while overlooking the very base of our economy, the american worker. They too have a vested interest, they are the very ones' that make others' dreams come true.

I have more to share, for now, let's see where this leads us.

Thank you,
Bob in N.Carolina


mike   December 4th, 2008 12:52 am ET

all these people how say let the big 3 go belly up where are they going to buy an american made car from? japan


Josh   December 4th, 2008 12:52 am ET

If the bailout money is not given, what will be the future of these companies?
Will they really file bankrupcy OR parts of these companies (or whole company) will be taken over by the other companies like Toyota, Honda or Tatas.
In the second case, aren't taxpayers better off than risk of loosing than gambling with their money. We already lost average 30% on 401K surely don't want to loose more with these companies with uncertain future.


S.Dwoskin, Wake Forest, NC   December 4th, 2008 12:52 am ET

Why doesn't someone ask about how Nardelli messed up Home Depot abd was rewarded with Millions , now messing up Chrysle,
Chrysler, GMAC & Cerebus relationship and how they are into bad moves for our economy


Lisette Fimian   December 4th, 2008 12:53 am ET

When I was 16, my father and I were driving at a pretty good clip along a Texas highway in his Lincoln. He finally mentioned seeing something coming up and closing in on us and wondered what it could be. It seemed to be too small and funny looking. It was a Volkswagen beetle. The year was 1956.

Here we are 52 years later, and nothing has changed with America's Big 3 automakers. They still haven't gotten it!

I say don't bail them out. I like what Michael Moore has had to say. From what I've heard of his ideas tonight he's made more sense than any of those million dollar auto executives.


X   December 4th, 2008 12:53 am ET

At the end of the day, if Americans are not supportive of the bailout for the "Big 3," American's will NOT buy American cars. I drive a Tahoe, and if the bailout happens, I will be buying a Honda or Toyota next. What happens if most Americans do what I do????

Randi Henson
Houston, TX


Pat   December 4th, 2008 12:53 am ET

Nothing in the bailout plan will make the Big 3's products be desireable.
If america believes in Capitalism then America understands that a company that makes an un-desireable product will eventually go out of business.

Government funded auto companies in Russia made the Lada – which no one wanted.
Government funded auto companies in Yugoslavia made the Yugo – which no one wanted
Government funded auto companies in East Germany made the Trabant which no one wanted.

Why do we think Government funded auto companies will work in America?

A bailout would only perpetuate the Big 3 making un-desireable products and losing money.

This problem was caused by 3 factions
– Executive management – overpaid flying around with corporate jets
– Middle management making undesireable cars and gas Guzzlers
– Labor unions insisting on benefits and pay which many Americans would also like to have, and which all Americans deserve but which don't seem to work with the business model of high executive pay and undesireable products.

Unfortunately, all 3 factions will lose when the Big 3 fail.

Please don't let my tax $$ extend the money losing business model of the Big 3.

If they can make a desireable car they will survive. Otherwise they will die.

If someone needs to bailout the Big 3 it should be Exxon, Chevron and Phillips Conocco who are interested in having more gas guzlers on the roads.


Dave McCraw   December 4th, 2008 12:53 am ET

I would agree that at this point the goverment needs to help the auto makers out. I disagree that it should be a total bail out by the tax payers at the tax payers expense. I think the ceo should have to pay back his current earnings, be fired himeself or take a cut in pay to $50,000 a year and see how he likes it.The management created this mess and should be held accountable for the useless technology they have produced.The unions and the greed that follows plays a part in this process also. It doesnt take much thought, It just takes common sense, and neither the management or the union has much of either..


Thaddeus   December 4th, 2008 12:53 am ET

The government needs to have the big 3 give a detailed business plan on how they are going to pay the loan back and fire the heads of all three corperations, before any money is given. It should be just like the deal with Chrysler and Carter during the 70's. When Lee Iacco brought Chrysler back from Bankruptcy and paid the government back early. Don't give the fools the money who lost it in the first place, put some more intelligent people in charge.


Robert Kamper   December 4th, 2008 12:53 am ET

The banks should have been nationalized. If the Auto CEOs are willing to work for $1 annual salaries the executives at AIG and others should also give up their millions in bonuses and work for $1 annual salaries. The auto makers could make a profit if we instituted universal single payer health care and removed the Social Security payroll tax cap and made cars that had high mileage, low cost, and high quality. We could nationalize the auto industry and not need to make a profit and turn out the kind of product people would buy, Fannie Mae worked fine as a government agency until it was turned over to the private sector which gave millions to executives and bankrupted it. Medicare is more effective and efficient than private health insurance. We the People can do whatever we need to do to ensure the common welfare and defense, and if it means changing the way Wall Street works and the way the transportation industry works, we will have to do whatever it takes. America first. Wall Street last.


manuel   December 4th, 2008 12:53 am ET

Buy up all stock (gov.) and fire all the top brainless car executives who have taken these companies to near ruin. Find someone to come in and reorganize and set up for new hybrid and electric cars. Sell back the companies to the employees once they can prove they can run them. I know they cannot be any worse than the thieves who run them now.


Chris   December 4th, 2008 12:54 am ET

Chrysler should go Bye Bye or merge
The unions should go Bye bye, there isn't a need for them in this day,
The management should go Bye Bye, they aren't managing well

GM Should Drop Pontiac, GMC, Buick and Sell off the brands Hummer and Saab, leaving focus to Chevy, Cadillac and Saturn.

Ford should Drop Mercury.

30% of the dealerships should go Bye Bye
Offer buyouts to close dealerships.

Oh and Reid, Pelosy and Frank need to go bye bye.

Then give them a loan if and only if it is matched by private investors.


Greg Bollinger   December 4th, 2008 12:54 am ET

Larry why should we continue to pay