Should the Big Three automakers receive bailout money?
Why or Why Not.
I already asked this yesterday, but i need more opinions nd answers.
Thank youh ( :
Thank youhh soo much everyone! ( :
- CBLv 71 decade agoFavorite Answer
Big 3 have already asked for money.
1. GM already received money and has another 29 days to prove that it needs money
2. Chrysler - already under bankruptcy.
3. Ford - Best of all - not receiving the money.
This questions is not just they receiving the money, rather, it is worth putting money in these corporations, where people in long term can be benefited. Can they turn things around to be profitable businesses.
There are lot of other business - part suppliers, dealers, who are directly dependent on them.
Then there are local economy, housing market, grocers, local business who also benefit, if the people in above industry are emplolyed.
If one goes down, it has ripple effect on not one company but all the dependent ones also.
Example: Youngtown, OH. When factory closed, and you owned a slighty high-end restaurant to cater to the executives, engineers who were dining there, what exactly are going to do. - Bankrupt! This story could get replicated,
- LeAnneLv 71 decade ago
Should they receive bailout money? Well, first off, it really only seems to be the Big 2 - GM and Chrysler.
No, they should declare bankruptcy which would allow them to restructure.
It's a very complex issue because if these manufacturers fail, it is estimated that 3 million jobs, directly and indirectly, would be lost - not counting the small mom and pop businesses which depend on the local employees of these companies and suppliers for their income.
- toledojeeperLv 51 decade ago
MrDuell,you don't know squat.In China,Korea,and Russia do you think they have any environmental laws?GM builds more vehicles that get over 30 mpg then Toyota does.
If these companies are not helped out and GM and Chrysler go under I believe we will have a depression.
This isn't just a US problem,Toyota has asked the Japanese Government for $2 billion and Nissan also needs help.Auto companies in Germany and Italy are also asking the governments for loans.
- Anonymous1 decade ago
In order of who deserves it most:
1) Ford-(since they've consistently refused it, and Alan Mulally had the foresight to get a big line of credit several years ago to avoid such a drainage of funds in such an economic scenario).
2. GM-Rick Wagoner may have been a dud but they're released some great products recently and it would be a shame to see them go.
3. Chrysler-Frankly, with cars like the Sebring, they don't deserve ****. But we're a nation of nice people
On a somewhat different note, how come you wrote "thank you" with a frowny face?
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- 1 decade ago
No. They should go bankrupt. None of them offer many cars that get 30+ mpg. Out of them all, GM has more than the other two, but nevertheless, they still should all go bankrupt. Americans have to get on the ball. We don't lead other countries as far as the evironment is concerned. They are all beating us out. We're gunna be stuck here with flooded streets from the glaciers, and we'll still be driving our 18 mpg city Cadillac Escalade.
- StuieLv 61 decade ago
Yes and Now. They make bad cars and did to learn their lesson. On the other hand there are a lot of people that work for them and it would just make our economy worse if they didn't get one.
- unruhLv 44 years ago
2 of them have already got. No they could desire to not by way of fact they'll bypass bankrupt besides. Waste of our money. they could desire to have went bankrupt from the beginning up and it could have labored itself out quicker.