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Jayman · 11-17-2008, 10:11 AM

As an employee for GM, I will say that, obviously, I am all for the bailout plan. Things in Michigan are extremely bad right now, and in fact worse than any other state in a financial sense. Unemployment is astronomically high, near the 8% mark, businesses are failing all around here, and to top it all off: if the Auto Industry failed as well, you might as well just blow Michigan off the map.

Obviously, this industry is Michigan's bread and butter, but looking at the bigger picture as the country on a whole, it would be a disaster for us as well. Terry was pretty spot on in his post, so I'm not going to re-hash what he said.

But I will say as a GM employee, I'm currently scared to death. Everyone in my building, and at the plants as well, are pretty pessimistic about this entire situation. There were a long round of cuts that went around about a month ago, with many opting to take an early retirement package. And with the executives not getting the numbers they needed, now there is talk of more cuts coming soon...even before the end of the year.

I understand many people around the country are of the belief "The Auto Industries got themselves into this mess, it's their fault. Don't bail them out". These people don't understand how influential this industry is. GM, as with Ford and Chrysler, aren't just a United States company...we are global.

I can talk for Powertrain when I say the plans between now and the next 10 years are to build plants in China, India, Brazil, Germany....if GM faltered, it wouldn't just impact the US economy, it would be a global problem. We have just as many plants inside the US as we do outside of it.

Yeah, we got "fat and happy" in the 1960's and 70's when everything was going well for the industry. We didn't think towards the future and save for a rainy day. But would anyone have said back then that there would be a chance soon that the industry would go bankrupt in 2009? We need the governments help, and I read an article today that said George Bush isn't ready to give goverment funding to the industry at this time.

My only hope is that Obama can help us out. We sure do need it right now.

11-17-2008, 10:11 AM	#4 (permalink)
Jayman In Locke I trust Join Date: Apr 2005 Location: Michigan Posts: 6,312 vCash: 500 Rep Power: 161 Awards Showcase Total Awards: 5	Re: Auto Bailout As an employee for GM, I will say that, obviously, I am all for the bailout plan. Things in Michigan are extremely bad right now, and in fact worse than any other state in a financial sense. Unemployment is astronomically high, near the 8% mark, businesses are failing all around here, and to top it all off: if the Auto Industry failed as well, you might as well just blow Michigan off the map. Obviously, this industry is Michigan's bread and butter, but looking at the bigger picture as the country on a whole, it would be a disaster for us as well. Terry was pretty spot on in his post, so I'm not going to re-hash what he said. But I will say as a GM employee, I'm currently scared to death. Everyone in my building, and at the plants as well, are pretty pessimistic about this entire situation. There were a long round of cuts that went around about a month ago, with many opting to take an early retirement package. And with the executives not getting the numbers they needed, now there is talk of more cuts coming soon...even before the end of the year. I understand many people around the country are of the belief "The Auto Industries got themselves into this mess, it's their fault. Don't bail them out". These people don't understand how influential this industry is. GM, as with Ford and Chrysler, aren't just a United States company...we are global. I can talk for Powertrain when I say the plans between now and the next 10 years are to build plants in China, India, Brazil, Germany....if GM faltered, it wouldn't just impact the US economy, it would be a global problem. We have just as many plants inside the US as we do outside of it. Yeah, we got "fat and happy" in the 1960's and 70's when everything was going well for the industry. We didn't think towards the future and save for a rainy day. But would anyone have said back then that there would be a chance soon that the industry would go bankrupt in 2009? We need the governments help, and I read an article today that said George Bush isn't ready to give goverment funding to the industry at this time. My only hope is that Obama can help us out. We sure do need it right now.