Can the collapse of the Auto Industry be attributed to yet...

[samanthakhz]

...another Bush Administration achievement? Is it another liner note for the Bush legacy?

[AngelaTC]

No, it is the result of the economic impact of the unions and endless government mandates.

If the car companies were allowed to simply build cars, they'd be fine.

[labowu]

No, poor management, failure to keep up with new technologies, and an overpaid union workforce are the reasons the Auto industry is in trouble.

[tiny Valkyrie]

The auto industry's collapse was self inflicted: poor management.

The only sympathy I feel is for the workers that will now lose their jobs.

[Greg]

They cannot sell bonds to meet their capital requirements.  In case you hadn't noticed the entire capital markets are in pretty poor condition, and that's impacting the auto makers.

It's bigger than Bush, but yes he did nothing while the shadow financial market went haywire.  In fact, he cheered it on.

Trillions in highly-leveraged debt obligations and their derrivatives just evaporated.  The DJI is on its way down to 7000, deflation has appeared, consumers are tapped out.

In 6 short years, the unregulated commoditized securities market went from 200 billion to 50 trillion dollars, and everybody who was making money off of that ponzi scheme was happy about it.  The Bush Administration pointed to the apparent market ability to defy gravity as proof of the success of Republican policies.

But it was a bone headed, unregulated mess that was bound to fail miserably.

[Coffee T]

nope because this time the ball is in the democrat side
remember UAW=contributor to dem. the republicans are washing their hand and let the democrat save face !

[?]

Clinton started it all.
http://thekrays.wordpress.com/2008/09/26/bill-clintons-repeal-of-glass-steagall-at-heart-banking-criss/

[TheMom]

It's as much the automakers executives and planners as it is the Bush Admin.

[smellyfoot ™]

You Bush bashers are hilarious. It's like you live in a little bubble where Bush is the omni-powerful, all knowing dictator of the world. If you think this is as simple as "It's Bush's fault!" then you're an idiot....

Just curious, who are you gonna blame when Obama is POTUS?

[Sally B]

No, you need look no farther than the UAW for the collapse of the US Auto industry.

[Michael H]

As the first responder clearly indicated, it is the constant demands of the unions that have destroyed the automotive industry.

While the unions were needed in the past, they have outlived their usefulness.

And if you want to know the real cause of the automotive industry failure, then look at those who have continually promoted the unions and given them every little thing they wanted.

Yep, it is the liberal socialist democrats.

The automotive industry needs to have done what Reagan did to the flight controller's union. He busted it up and put things back in order.

[The Planet]

Yes, it is the Bush administrations fault.  If Wall Street wouldn't have crashed then the auto industry would not be in trouble now. There problems were all brought on by people not being able to get loans for new cars, dealerships not getting loans to restock their show rooms, and jobbers and suppliers not being able to get credit for their normal operations that they depend on.

To those who are bashing the unions: You're out of touch. They have agreed to lower wages and less benefits over the past five years and the companies are poised to close the labor costs per car between U.S. companies and those owned by foreign countries starting in January.

[-n-]

No, that just sounds like another liberal wet dream to me. Can you specifically tell me what Bush has done to destroy the US automakers? The US automakers have been on a steady decline since the 80's. The failure of the US automakers is due to poor management and greedy unions who are unwilling to budge.

[Chupate esa!]

If Bush was democrat it would be his fault but since he is republican is a force above him.

The best example of this is how they still blame Clinton 8 years later.

[Robin S]

Sure. Why not? Just keep heaping it on at this point.

[orchid4242]

That's right.......Everything in the world is Bush's fault.

DEMOCRAT = NO PERSONAL RESPONSIBILITY

[ritchwilliams]

Gosh, I hope so. It's about time we stopped propping up the wagon wheel industry. Once the current auto industry collapses, a new, better and more competitive one will emerge. It's not like all that skilled labor and available factory space will go to waste. America was raised on the entrepreneurial spirit and the sooner we stick the knife in Tyrannosaurus GM-Rex the better.

I hear those out there saying, "Hey!! What about all those folks that will be unemployed?" to which I reply, "So, in order for these folks to have a job, any job, we have to prop up the sinking and failed industry?"

NO! Let them go and create a new, better and more competitive industry. The collapse of the auto industry is the industries fault, not the president's fault. You really need to wrap your head around that reality.

[Peachy McKeen™]

NO.

Out of curiosity, do you blame your frizzy hair days on Bush as well?  

You want to talk about legacies...let's talk about Carter and his four "spectacular" years he spent in office.

[ned s]

Is this a legitimate question or is you lack of knowledge about the auto industry that lacking?

The unions got management to sign contracts that greatly benefited the union when GM had a 50% share of the US auto market.
The average pay of a line worker is 78$ including benefits which makes it impossible for GM to make profitible small cars that get good gas millage.

GM is a badly run company
The unions are killing the companies
The unions forced GM to create 15k jobs that were replaced by automation and these 15k people get paid 95% regular wages with benefits but yet do no productive work at all.

Corporate taxes are too high and the EPA has too many laws that add too many costs to building cars.

Why are the Asian and German car makers building cars in America still doing OK?

Bush has nothing to do with the Big 3 and how bad they are..

[Pfo]

Bush didn't play any role in any of the decisions made by US automakers.  So, how could you blame it on him?  Just because he's the president doesn't mean everything that happens in this country is his fault.