If You Didn’t Notice, Only 3 Were Being Questioned

Posted: December 6, 2008 in Commentary, Economy, Headlines


Why the Auto Bailout Would Be a Big Mistake

John Stossel on Why the Big Three Don’t Deserve a Taxpayer Bailout

[excerpt]

“But wait a second, those jobs wouldn’t necessarily be lost. Bankruptcy isn’t death. Kmart didn’t disappear when it went bankrupt. Neither did Fruit of the Loom, Texaco, Continental Airlines, Delta, or United.

They were reorganized into more efficient, sustainable businesses. Out of this creative destruction new jobs emerged.

Toyota isn’t asking for a bailout. Neither are Honda or Nissan. Yet, they all sell and build cars in America. In fact, while the Big Three were begging for your money, workers at Honda celebrated the first cars coming off their new assembly line in Indiana.

Why can Honda do it, when the Big Three can’t? Well, Gettelfinger’s union is one reason. The Big Three have to deal with strikes.

The UAW even got the Big Three to create places where longtime workers who are not needed are still paid 95 percent of their wages to just sit. They wouldn’t allow us to videotape these so-called jobs banks, but Linda Swan saw them when she worked for Ford.

“For the most part our people just sit inside and do nothing,” she said. ”

[…]

“Tens if not hundreds of thousands of jobs would be lost in the auto industry itself,” said U.S. Sen. Christopher Dodd, D-Conn.

But wait a second, those jobs wouldn’t necessarily be lost. Bankruptcy isn’t death. Kmart didn’t disappear when it went bankrupt. Neither did Fruit of the Loom, Texaco, Continental Airlines, Delta, or United.

They were reorganized into more efficient, sustainable businesses. Out of this creative destruction new jobs emerged. (more…)

And look who is pushing for the bailout?


Jesse Jackson plans rallies to support automakers

DETROIT: The Rev. Jesse Jackson said Friday he will organize rallies in several cities to urge Congress to grant aid to the struggling U.S. automakers.

“It’s time to go back to the streets for some action,” Jackson said after a press conference with minority suppliers and dealers. “We need to show the wealth and depth of pain. It’s not the Big Three execs, it’s the big 4 million jobs.” (more…)

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Comments
  1. Wait a minute, who would want the UAW workers?

  2. Wil says:

    Bankruptcy is the only real solution for the auto companies, because they must get free of the legacy costs and the unons in general. The big three are already dead.

  3. Jesse Sr. is only going to bat for the automakers because they are writing checks to his Rainbow Coalition….

  4. DarkStar says:

    Jesse Jackson, Sr., has been a strong supporter of unions for years. The bailout is more for the workers than the companies themselves.

  5. Duane says:

    Does that really matter to the big three who are asking for the bailout?

    No.

  6. DarkStar says:

    It doesn’t matter but if Jackson, Sr., is going to support the bailout, and a statement of “because they are writing checks to his Rainbow Coalition” is made, isn’t it correct to comment on Jackson, Sr’s long standing pro-union activities?

  7. Duane says:

    True and so.

    Your comment is just as valid as BWBTT. But once again, does it really matter especially since he, the big 3 and the UAW share the same interests? No.

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