Automotive Bill (NOTE DO NOT READ IF YOU LIKE RICHARDSHELBY)

Chris Fullmer

Well paintshops still paint non us made cars. Body shops still repair dents from accidents Mechanics still fix non US made cars. Well, not as often, but that's actually a good thing for the consumer (thats you and me!) whose "foreign" car doesn't break down as often.

Its important to remember that "foreign" isn't really so foreign. I don't have a statistic, so I'll make one up. 95% of "foreign" cars are assembled in the US. With many of the parts being made overseas. This is identical to the Big 3. They assemble them here, but much is from overseas. OK, so that's all made up, but I think its approximately accurate. Foreign cars still mean jobs in the US.

Don't get me wrong, Id rather them not fail. I just wish they fixed their own mess before they get to this point. And I think they should restructure.

But again, I don't know anything and fortunately I'm not the one making any decisions about it.

Chris

KDSDESIGN

accually i mean like places that only tune GMs chryslers fords ETC

david_h

What you have to realize is that just because the companies file Chap 7, that doesn't mean thousands of workers are out the next morning. What it means is a court appointed administrator(s) takes over running the company to work out their refinancing. If a company goes Chap 11, that's when the assets go on the Auction block. I don't think they are talking about that at all.
All the Republicans want to do is 1) not give the US Gov't control of the companies. 20% is pretty much voting control and theyll only screw it up and 2) quit using oceans of tax payer money to bail out poorly managed companies.

and another thing. . .All the talk about corporate jets, whether or not they going to have electric cars on the road next year, or high CEO salaries is nonsense. If you could find a guy who could really turn all of this around, and make these companies viable again, (Like Iaccoca did for CHRYSLER in 1980 [not GM -- and he really didn't do that great a job]) but someone like that. . .
But he wanted $100 Million a year to do it. .. wouldn't it be worth it?

D

KDSDESIGN

it didnt pass