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H.R. 7321, The Auto Industry Financing and Restructuring Act (8 comments ↓ | 3 wiki edits)
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 7321 would authorize financial assistance to eligible automobile manufacturers.
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Visitor Comments 
Michelle Randall
December 15, 2008, 12:06pm (report abuse)No bailout! No wonder this industry cannot compete on the world market. The bosses are a bunch of incompetent, overpaid, pompous asses that deserve to be unemployed. The workers wages are obscene, and their union benefits are equally obscene. No sympathy here. Let's put the money into creating other jobs at a realistic, competative level for the workers.
scarlyjones
December 15, 2008, 3:19pm (report abuse)Michelle,....you sound just like someone who knows nothing about the auto industry. You DO realize that this will effect YOU, too, dont you? This will put 3 million people out of a job, if not more. The auto workers are only making $34 an hour on the average. The $74 an hour we keep hearing about is a figure those opposed to this bill came up with by factoring in all the medical and dental benefits, vacation pay, overtime, and anything else they could think of to boost the number. NOBODY is getting a paycheck that reflects $74 an hour. Plus,...you dont know the FIRST THING that goes into building a car, so, I would keep my mouth shut about things I know absolutely nothing about, if I were you. How can you say "No sympathy here"???? These workers have families, children and Christmas if around the corner. You dont care that over three million people would be unemployed?? No sympathy? Nice American.
Col.
December 15, 2008, 4:00pm (report abuse)Congress did nothing to aid the airline industry and they have survived quite well. Enough is enough. Is congress going to bail ME out?
sean
December 15, 2008, 8:19pm (report abuse)This bill is just another reactionary move to try to put a finger in the proverbial dam to make it look like our inept congress and president are actually doing something at all. 15 billion to get the big 3 through until January and let Obama handle it! Ha. Then what? Their cars will not be more fuel efficient, their cars will not be more marketable...unless they are going to use the $700 Billion bailout to make even more creative financing than they have used for the last 6 years (0% for 4 years plus thousands $ rebates).
Time to Chap 11, restructure, and do what management should have done long ago. Produce products people want and can afford.
scarlyjones
December 16, 2008, 7:34am (report abuse)How many of you that commented to let them fall have actually worked FOR the Big 3? Chapter 11 restructuring would destroy the industry. Don't you follow the details?? Or do you just hear jackasses ignorantly discussing it and then simply repeat the same inept, uneducated garbage? I do not work for the Big 3, nor do I even work IN the auto industry. My father worked for Chrysler for 37 years. He passed away last year, so I dont have a related stake in THAT regard AND my older brother works for Volkswagon. So, I dont have a biased opinion swaying my understanding of the situation. I simply understand the ripple effect that will overtake this country. Those of you who think the worst of this will be simply three companies in chapter 11 for a couple of years, have no idea what they are talking about. Millions of people WILL LOSE THEIR JOBS. But sociopathic, narcisistic people like you dont care about that little detail. Morons....
Sean
December 16, 2008, 2:04pm (report abuse)You really should not call people names scarlyjones.
So you do not have a vested interest in whether Chrysler stock ever goes back up again? Hmmm.
The reality is that our tax $ should go towards creating real jobs in new industries so people can afford to buy new cars. What good will be done to keep Detroit out of chapter 11 if the average Joe (I do not mean Joe the Plumber, I mean $50,000 a year Joe) cannot afford buy a new car!
Let me ask you a question though...What type of car do YOU drive?
You don't see the imports lining up at the capitol building asking to keep the lights on for a few more months until they can ask for a whole lot more money from the new president.
Congress and the president need create new jobs in new industries. This does not include spending MY TAX PAYER money, not THE GOVERNMENT's money,
When does chapter 11 destroy industries anyway.
scarlyjones
December 16, 2008, 3:44pm (report abuse)Well, Sean,...I drive a CHRYSLER PT Cruiser. Chapter 11 would destroy the auto industry in this country. Chapter 11 isnt FOR every business. You sound like you think Chapter 11 fixes every business, no matter what. Do the math. By the way,...its OUR taxpayer $. Not YOURS. And by the way, professor,.....their IS no such thing as "the governments money". Government money, IS taxpayer money. The government gets all their money from taxes. Its funny how nobody will even TOUCH the fact I bring up about the millions losing their jobs. Pretend I didnt even bring that up. You dont touch it, because only a heartless, pr*ck would argue FOR that, so you just argue your side without ever bringing it up. What if it were YOUR job? Or your son or daughters job?? It would be quite different then, I bet.
Andrew Washburn
December 29, 2008, 12:21pm (report abuse)Instead of asking Congress for a bailout the big 3 should be talking to the unions. The unions make sure that even though all those employees get laid off they are still getting a paycheck. For every one person working there are two paychecks going out, plus the union wages for the big 3 average $70 an hour.
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