Should the US bailout the big three automakers?

[428street]

Hmmm...that's an interesting thought...It would not surprise me and actually something I just had a conversation about with my wife the other day...I said to her it would not surprise me if this entire issue (and we were taking specifically about the gas shortage issue) was choreographed by the powers that be..

The credit issue I think is an entire other issue...that was created by greed (banks) and idiotic Americans buying more then they can afford to keep up with their neighbors and again the banks letting them live on credit. I don't know much about the banking industry but I have to assume that the amount of interest paid over the years to these banks far outweighs any loses that might have taken recently.

Ever look at your amortization table when you took out your mortgage. It is sickening to see over a 30 year loan you basically pay out 2x more then the cost of your initial buying price. There is some serious profit in that business as far as I can see it.

On another note...and this just happened to me 2 days ago.

We put a bid on a job that at the time I did not know was what they call in CT as a prevailing wage job. This is/was a State bid which dictates what I have to pay my employee's every hour they work on this job. It was explained to me that this is done so the unions get a fair chance at this work! The labor rate and benefits I have to pay my guys if I get this job is $75 per hour. $45 for labor and $35 for benefits. This added about $70 an hour more I had to charge the customer over my normal rates to make the Union labor competitive. And yes, we are non-unuion. Seems like price fixing to me. And yes I know that it is my choice to bid on this work or not. This will be the last prevailing wage job I will bid on.

I assume there is a direct correlation between my experience with Union based wages and what is going on with the American Auto Industry.