It is time for America first policies..rethink..rebuild and renew.build
a smart car that people can be proud of
like a 40mpg full size pick-up or van before China or Japan builds it first. How
much will gas cost two years from now..
Get to work GMC..GET TO WORK

I'm a GM employee ...have worked there 13 years and this is bull crap that these big shots are still not trying to change their perception in the public's eye.These guys need to wake up and smell the reality.
One word of caution though to those who want the big 3 to sink like the Titanic.Right now this country is dependent on foreign oil...do we really want this country to be dependent on foreign vehicles as well.The only thing that these Japanese plants in America contribute to this country is what the employees put back into their communities as far as consumers.The largest percentage of their profits don't stay in the U.S.,but go back to the motherland,Japan.Is there things that Detroit needs to change in a hurry to stop the bleeding(like the stupid jet deal among everything else)?Absolutely.
But the old adage "becareful what you wish for 'cause you just might get it" will ring true if the Big 3 cease to exist.

All the executives need to be paid the same wages and benefits as their lowest worker in the companies. Then they need to make them try and survive without all the money they stole from the company in the form of perks and wages.

The link is for the latest recall for GM for 2009, it's not even 2009 and they're already being recalled!

http://www.usrecallnews.com/2008/11/nhtsa-2615.html

I have read most of the posts and just wanted to comment on a few things:

To people who are saying why does our president get to fly in a 747 vs. CEO's flying in private jets: Our president is the leader of the free world, CEO's are not, it is befitting of our status as a world leader for him to be seen in a 747, not to mention that he travels with security staff, press, family members and various others that will be needed for his trip. What do you want him to fly in a Boeing 737?

On congress having their own jets: I do not want to be on a plane with a congressional member, they have made very controversial decisions and the plane would never take off due to security measures, these individuals can't fly commercial airlines, therefore they need their own. No one cares about CEO's of the big 3, they simply do not want to fly with everyone else, this is not a security issue - they can fly Virgin America, I hear they're usually on time.

On Bailout: Bailout or loaning money to the big 3 does not change the fact that they are no longer producing a product that the the country wants nor do they have a corporate culture that is capable of new and innovative ideas, not to mention GM's burn rate is about 1 Billion a month.

On Salaries: Even if Auto workers aren't making $70/hour as some claim they are still making too much for the work that they do and the areas that they live in, and there is no incentive for good production, just production overall. Whether GM workers like it or not they are overpaid for their job descriptions, the overpayment of salaries to employees and management + the benefits are bleeding the company dry, the UAW contracts will have to be reworked.

Something to think about: Our President gets $250,000 a year and he oversees one of the great powers of the world and makes decisions that will shape the lives of every person in this great nation.
GM president Rick Wagoner on March 6 was given a 33% raise to $2.2 Million and he is asking for loans/bailouts from the Federal government, something has to give, this isn't working.

http://www.reuters.com/article/companyNews/idUSN0626693220080306

The madness over a Detroit GM rescue deal

The health of Citigroup is not the only gripping crisis that must be dealt with. At this point, political and ideological bickering in the US Congress has so far prevented a simple emergency $25 billion loan extension to General Motors and other of the US Big Three automakers-Ford and Chrysler. The absurd spectacle of US Congressmen attacking the chairmen of the Big Three for flying to the emergency Congressional hearings on a rescue loan in their private company jets while largely ignoring the issue of consequences to the economy of a GM failure underscores the utter lack of touch with reality that has overwhelmed Washington in recent years.

For GM to go into bankruptcy risks a disaster of colossal proportions. Although Lehman Bros., the biggest bankruptcy in US history, appears to have had an orderly settlement of its credit defaults swaps, the disruption occurred before-hand, as protection writers had to post additional collateral prior to settlement. That was a major factor in the dramatic global market selloff in October. GM is bigger by far, meaning bigger collateral damage, and this would take place when the financial system is even weaker than when Lehman failed.

In addition, a second, and potentially far more damaging issue, has been largely ignored. The advocates of letting GM go bankrupt argue that it can go into Chapter 11 just like other big companies that get themselves in trouble. That may not happen however, and a Chapter 7 or liquidation of GM that would then result would be a tectonic event.

The problem is that under Chapter 11 US law, it takes time for the company to get the protection of a bankruptcy court. Until that time, which may be weeks or months, the company would need urgently 'bridge financing' to continue operating. This is known as 'Debtor-in-Possession or DIP financing. DIP is essential for most Chapter 11 bankruptcies, as it takes time to get the plan of reorganization approved by creditors and the courts. Most companies, like GM today, go to bankruptcy court when they are at the end of their liquidity.

DIP is specifically for companies in, or on the verge of bankruptcy, and the debt is generally senior to other outstanding creditor claims. So it is actually very low risk, as the amount spent is usually not large, relatively speaking. But DIP lending is being severely curtailed right now, just when it is most needed, as healthier banks drastically cut loans in the severe credit crunch situation.

Without access to DIP bridge financing, GM would be forced into a partial, or even a full liquidation. The ramifications are horrendous. Aside from loss of 100,000 jobs at GM itself, GM is critical to keep many US auto suppliers in business. If GM failed soon most, possibly even all of the US and even foreign auto suppliers will go under. Those parts suppliers are important to other auto makers. Many foreign car factories would be forced to close due to loss of suppliers. Some analysts put 2009 job losses from a GM failure as high as 2.5 million jobs due to the follow-on effects. If the impact of that 2.5 million job loss is seen in terms of the overall losses to the economy of non-auto jobs such as services, home foreclosures caused and such, some estimate total impact would be more than 15 million jobs.

So far in the face of this staggering prospect, the members of the US Congress have chosen to focus on the fact the GM chief, Rick Wagoner, flew in his private company jet to Washington. The Congressional charade conjures up the image of Nero playing his fiddle as Rome goes up in flames.

we all know that not to "help"the auto industry would indeed hurt the economy and the 10's of thousands of employees.....HOWEVER,charity begins at home. Let the big 3 give up their bonuses and planes and raises and stock options and then we'll see

My Wife and I would like a bridge loan so we can purchase on of these cars. You can call it a bail out if you like. Hell lets all borrow, borrow,and borrow some more. What ever happened to cash and carry.

Well I hope they wise up. I do have a few hundred shares of stock and don't want to lose my money but, I heard that the president or CEO of GM has his and her helicopter's that land on his private yacht.
This is ridiculous!!! I can not believe these people have the nerve to come to these meetings in corp. owned jets.

They need to really be strict. I think we need to demand that the people running the show need to sell some of their material items that they worship and get over them selfs! I mean my husband just had to sell his 2000 Corvette. He hated to see it go but, in times like these you never know what is going to happen. We rather have the money sitting in the bank or better yet at home in the safe!

Get RID of ALL the CEOs, management, and hire a few Japanese CEOs that KNOW how to run a successful bussiness, cause these BOZOs dont. HUMMER? LOL WHAT NEXT? TANKS?

POLITICIANS AND CEO'S ARE CUT FROM THE SAME PIECE OF CLOTH

really if gm goes under over 500000 people will lose there job..... i sure dont want my fateher to lose his job at 55..its the best deal to get throught this recession!!!!!

approving the bail out package was a BIG mistake. If these corporations can't keep heads above water, let them sink. I think we've all already seen that failing has not humbled them at all. They want taxpayers to help fund their opulent lifestyles even though our economy has hit bottom. If these fat cats who make millions/billions can't make it work for their companies, cut them loose and/or close it down. Taxpayer money should not be used!

Congress should ask them about their net worth. Then it should ask them how much of it are they willing to invest in their own companies. And the bailout money should follow that pattern. You put in 100% of your money and we give you 100% of x amount of taxpayers money. The point is that if they screw up with taxpayers money, they should literallly be standing by the roadside with tin cups in hands. Its easy to ask for more money knowing very well that my own money is safe no matter what I do with the borrowed money. But when its your hard money and future that is at stake, that's when your hands sweat.

let the UAW give GM THE BILLION DOLLARS THEY HAVE ....this will show the UAW want the car maker to be successful ........if the CEO'S like planes and jets get them jobs at boeing.