Thrifty Mommy » auto bail out http://www.blisstree.com/thriftymommy Time and Money Saving Tips from Thrifty Mommy Wed, 23 Dec 2009 20:18:36 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Auto Bail Out explanation please http://www.blisstree.com/thriftymommy/auto-bail-out-explanation-please/ http://www.blisstree.com/thriftymommy/auto-bail-out-explanation-please/#comments Sat, 13 Dec 2008 17:34:43 +0000 kellys http://www.thriftymommy.com/auto-bail-out-explanation-please/ Post from: Thrifty Mommy

]]> Someone smarter than me is going to have to explain to me this whole auto bail out plan because I am not getting it.  This week I heard a statistic but I can’t remember the source.  The statistic went like this … In 2007, Toyota and GM sold the same amount of gross product.  Toyota, however, mad etwice the profit as GM.  So if htey are both making cars in the US and they both brought in similar amounts of money, then why is Toyota fine and GM needing y tax dollars to pay a rediculous overhead.

Let me say quickly that I do understand that if they go under, we can’t handle the aftermath.  Too many jobs will be lost and our economy will tank.  I understand that.  But what I don’t understand is that if Detroit doesn’t get our tax dollars, then they will restructure under Chapter 11 bankruptcy.  Seems to me like I don’t want to throw my good money after bad decisions.

Am  I missing something?  A pay cut would be a heck of a lot better than no paycheck at all.  What do you think?

Post from: Thrifty Mommy

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