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Support is greatest among Democrats, MidWesterns, Easterners, but substiantially down in other regions and Republicans (http://www.washingtonpost.com/wp-dyn/content/article/2008/12/15/AR2008121502727.html)

http://www.cleanmpg.com/photos/data/501/apg_congress_auto_081120_mn.jpgJon Cohen & Jennifer Agiesta - Washington Post - Dec. 16, 2008

Few issues will be as important -- Ed

Most Americans continue to oppose a government-backed rescue plan for Detroit's Big Three automakers as majorities blame the industry for its own problems and are unconvinced failure would hurt the economy, according to a new Washington Post-ABC News poll.

Overall, 55 percent of those polled oppose the latest plan that Chrysler, Ford and General Motors executives pitched to Congress last week, on par with public opposition to earlier, pricier efforts. But with 42 percent support, the new request for up to $14 billion in emergency loans has more backers than previous proposals to secure up to $34 billion in loan guarantees.

But as with the earlier bids, those who strongly oppose the measure greatly outnumber those who are strongly supportive… http://www.washingtonpost.com/wp-dyn/content/article/2008/12/15/AR2008121502727.html

It will be interesting to see whether the new Congress & administration can separate the 3 companies and make a thoughtful decision about the best course for each, or if it is one size fits all.

One might need a loan/letter of credit. One might need to be bought out/merged. One might be best served with a bankruptcy or quasi-bankruptcy.

Makes me sick as a taxpaying, free-market loving chap, but I hope W props them up enough to let new leaders decide things.

Longer term (new administration), it seems doubtful that all 3 companies should get the same treatment. More meat left on some of these bones. Others just carcass.

Is it interesting that it could be Bush that rescues Detroit?

While he is in no big hurry, it's probably this week or forget it.

Is it interesting that it could be Bush that rescues Detroit?

While he is in no big hurry, it's probably this week or forget it.

From my understanding, even if they do use the remaining TARP funds for the auto-bailout, this will only put it off for a few months, so Obama will likely end up having to make a decision on it.

The bailout will go through with W signing on.

Myself, I think that the bailout is needed, but the biggest changes have to happen at the Union Level. The UAW members will have to take a pay cut in order to gain the votes needed to have a chance to win some more cash if needed. I realize that pay cuts suck, but losing a little pay beats the hell out of being out of work and getting nothing. That is a real possibility down the line.

Bailout funds aren't really going to do anything that filing bankruptcy couldn't accomplish. I say let the Big 3 file, drop the cancerous union, and restructure into car companies that can make a profit.

There's a distinct possibility that they don't have enough cash on hand to even make it through a restructure. :eek:

If even one of the big 2½ fails it could have effects not just on the other 2 but for Toyota, Honda and Nissan because they all feed from the same watering hole that supplies parts for the Detroit automakers.

If the no voters are so committed to this even after their business model is changed to build high fuel efficiency cars and even electric trolleys and trains then will they be willing to trade their cars for a bike when it proves difficult to get tires or batteries when the parts suppliers dry up too.

How about voting for funds, but make them available only after a company declares bankrupcy. While we don't want to encourage a good compnay to go "bankrupt" just to collect, it might prevent a problem company waiting too long and not being able to save itself. Have the money ready to go & with lots of stipulations and requirements, but the companies have to take the first step.

I have spoken with a few like minded people who unlike myself own American auto's.
They say that this is the last straw. They won't buy US/union built cars again. These are people with greater than GED educational credentials. Our workplace doesn't offer the generous health care packages that the union has, We have to pay for our coverage. All I can say is good luck to Gentlefinger and the UAW. It is time for you to live in the real world like the rest of America. Your next strike is likely to be your last.

On a parting note, Gentlefinger wanted to know about the auto exec's pay and compensation bonuses. Do we know what he is being paid and if we think it is in line with his skill level?

I have spoken with a few like minded people who unlike myself own American auto's.
They say that this is the last straw. They won't buy US/union built cars again. These are people with greater than GED educational credentials. Our workplace doesn't offer the generous health care packages that the union has, We have to pay for our coverage. All I can say is good luck to Gentlefinger and the UAW. It is time for you to live in the real world like the rest of America. Your next strike is likely to be your last.

On a parting note, Gentlefinger wanted to know about the auto exec's pay and compensation bonuses. Do we know what he is being paid and if we think it is in line with his skill level?

Union bosses typically get six and seven figure salaries. IIRC, the head of the AFL-CIO got ~750k/year, that was a few years ago.

Count me in as one of those who will not ever buy a UAW-built car.