Originally Posted by NateR
I disagreed with all of the bailouts. The government needs to stay out of private industry. If GM, Chrysler and Ford have mismanaged their affairs so badly that they're companies are failing, then they need to be allowed to go into bankruptcy. And that doesn't necessarily mean the end of the company, it's just a forced restructuring.
Marvel Comics (the company who created Spider-Man, Iron Man, Captain America, X-Men, etc.) declared bankruptcy back in the late 90s when the comic book market collapsed. That forced them to rethink how they do EVERYTHING and, as a result, comic books today are much better quality and Marvel is actually producing some of the most profitable movies in film history (Spider-Man 1-3, Iron Man, Hulk, X-Men 1-3, etc.).
So bankruptcy would not necessarily be the end of Ford, GM and Chrysler; but it would be the end of them in their current forms. However, you can bet that the cars that they would be producing post-bankruptcy would not be the gas guzzling wastes that we see today.
agreed, if they declare chapter 11 bankruptcy, that allows them to restructure the way they do things, it wouldn't be good to lose all those jobs, but at the same time, how can you ensure that money goes to the right place; they have mismanaged one of the top industries in america this badly, whose to say that extra money won't get mismanaged as well, more money won't help if their corporate structure is still poor....Oh and how do we know that money will go to the actual business...Remember the bank bailout and reports came out that some of that money went to huge bonuses for the CEO's...are we so sure that the auto industry won't do something similar?