Warren Buffett's great advice for the Detroit bailout

Excellent idea!

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Why not request the same thing from some of the union leaders?

It sure helps the energy/idea level when your ass is on the line.

YES, CORRECT THEY SHOULD NOT EVEN GET A SALARY WITH ALL THE MILLIONS THEY RECEIVED EACH YEAR PRIOR TO NOW. SHAME ON THEM. PRIVATE PLAN YET COMING TO THE TABLE WITH A TIN CAN ASKING FOR MONEY. SHAME SHAME.

WE GAVE OUR MONIES IN BONDS TO THEM IF THEY GO AWAY SO DOES THE MONEY THAT THE BONDS WERE PURCHASED WITH. THIS EFFECTS EVERYONE. NARDELI AT CHRYSLER BROUGHT DOWN HOME DEPOT SO HOW COULD THE BOARD BRING HIM IN AS CEO.

The top executives at the "big 3" are dismal failures, and need to be replaced. What is Buffet thinking!

Great idea Warren, also ask the Union to invest the pension plans of the workers in the companies. Let us see if they are as true to the companies as they are at making outragious demands on them for so many years.

Why is it that the auto industry is being held to a higher standard than the financial industry? Shouldn't the executives of the banks and AIG give up their paychecks / bonuses and invest more heavily in their company also? Where is the financial industries' business plan to liquidate their troubled assets on their own without taxpayer assistance?

So simple, So right! This premise should be part of any goverment bailout in any industry. When the goverment loans money their loaning our money(and our childrens money). When I borrow money for my small business my house is on the line. Hey, CEO's welcome to the real world! Join in on the anxiety party, wev'e been hoping you could join us, it's so much fun. Yes, lets send an invite to the UAW, why can't they come to the party too? Maybe at at midnight we could all yell together "Happy New Year"!

I agree that everybody should participate. The big labor unions have collected billions of dollars in dues money from the workers over the years, and give them little or nothing to show for that money. The company gave them a job, gave them benefits, and gave them much in the way of improving their lives. What has the union done for them lately? Taken billions of dues, and the mobsters of the unions live the good life.

Somehow I have a big problem in the near future seeing the presidential seal on a toyota camray

Warren Buffett - a real down to earth, easy to understand person comes up with a "logical" solution to the auto industry problems. Make all the top C category people invest heavily in the companies that they run - - - The U.S. (you and me) should not invest any of our money until they do so. The auto companies in the U.S. that are foreign owned do well. Why cannot the U.S. companies do as well ?

Well, for starters, I don't place all the blame on the "Big Three." Our government helped push them to the brink. Congress is just a small group of "elete" who glory in the thought that they have the power to control...everything. Corporate America doesn't always make good decisions, but, they shouldn't be chastised by the bunch in Congress for their mistakes...the "free" market will do just fine! If Congress want's to have a "say" in the automotive business...help them by developing a level playing field and demand that importing (Japan) countries export our cars to their countries under the same conditions as we are held. Then you would find a "rebirth" of American manufacturing and bring back the 2-3 billion in annual profits and annual taxes paid by American companies.

The FTC is responsible for a lot of GM Problems. Back in the Eighties the FTC forced GM into sending their Engineers to Japan to show them how to build efficient carburetors and ignition systems.

Theres hope for the auto industry in a bailout. Interesting recipe for fixing the industry: http://digg.com/autos/TheCarConnection_com_s_Plan_to_Fix_Detroit, why would you give up just yet?

The american auto buyer is here to stay so lets treat him and her right. I agree keep the FTC at bay and let the auto industry do their business. Stockholders should take note that if the CEO's are not doing their jobs they should be booted out without bonuses or golden parachuets.
That goes for the big three. Most other business in this country do the same why not the auto industry. Lee Iacoca and it work so why can't these current breed of leaders do it?

Let's not give money to Detroit. Why not buy a few cars, instead? At $20k per car, $1B will buy 50,000 cars! So, let the US replace every federal auto over 3 years old (or >30000 miles). If that won't stimulate the economy enough, subsidize the replacement of other public vehicles. Oh yes, these MUST be fuel efficient and well built. The secondary mkt for used cars will also help the economy.

Mr. Buffett is the man to listen to. ceo's, and uaw should be made to put up or shut up. there should be goverment team to watch over their recovery from day 1. i personally do not believe we should give anything. they got there on their on.