TBJ poll: Readers nix auto maker bailout
The Business Journal of the Greater Triad Area
Enough is enough, say readers of The Business Journal.
In an unscientific online poll conducted this past week, 59 percent of 441 respondents said the federal government should not bail out the struggling auto industry. Executives of Detroit's Big Three have been in Washngton D.C. this week pleading their case for the same kind of assistance the government has given banks. The automakers say they need about $25 billion or face bankruptcy.
Twenty-three percent of readers say that the government should help the car companies, and another 18 percent weren't sure.
A sample of comments:
•"Banks — then the auto industry — what's next? Textiles and furniture, liability insurance companies, etc. I think such "bailouts" are philisophically in contrast with a democracy."
•"The unions are at the root of the problem. If they are not reined in somehow, there's no point in bailing out the industry."
•"They deserve help more than the banking industry that provided loans they knew people could not afford and refinanced homes for equity at inflated rates."
•"Why reward bad business action?"
•"Businesses cannot continue to be bailed out by taxpayers. Auto and others should be using Chapter 11 and learning to run their businesses more intelligently and have less overpaid top executives."
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