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March 4th, 2009
05:00 PM ET

Should Europe help General Motors?

From CNN's Jack Cafferty:

General Motors is looking for a handout once again - but not here. This time GM is hoping that Europe will drop a few coins in the collection plate.

Should Europe help General Motors?

GM says its European divisions could collapse within weeks.

The struggling American auto company says its European divisions could collapse within weeks, unless governments across the pond step in to make sure it doesn't run out of money.

The company wants Europe to give them about $4.2 billion,saying the countries who host its car factories should share the "burden."

GM has had talks with the governments of Germany, the UK, Spain and Poland among others to ask for the money. They say if they don't get the aid - it could mean the loss of up to 300,000 jobs in Europe.

This all comes after GM asked the U.S. government for an additional $16.6 billion dollars in bailout money last month. That's on top of the billions it had previously received. As part of its restructuring plan - GM said it would lay off 47,000 people globally and close 14 plants in North America by 2012. The company also talked about reducing the number of brands in half, leaving only Chevrolet, Buick Cadillac and GMC.

Here’s my question to you: Should European countries come to the aid of General Motors?

Interested to know which ones made it on air?

Bryan writes:
It depends on how desperately they want to save those 300,000 jobs. If I were a European and my government was bailing out an American company, I would be pretty upset.

Steve from Texas writes:
So don't help them. Then just drop European production and see how they like the job losses. If those "with" are supposed to help those "without", why shouldn't that apply to everyone? If the countries benefit from employment by GM, then line up to help.

Andy from Dekalb, Illinois writes:
They shouldn't get anything, from Europe or anyone else. What incentive exists for GM, or AIG for that matter, to do anything right when lemon socialism is the rule of the day?

Alex writes:
Of course they should. General Motors has learned that shaking down governments is more profitable than making cars.

Stephen in New York writes:
If Europeans deem it worthwhile to infuse billions of dollars into GM Europe, let them. The U.S. infusion of billions does not seem to have helped much.

Vince from Atlanta writes:
I think the European countries should help themselves to General Motors. Pay GM, and take over the plants. That should help everybody.

Jane from Minnesota writes:
If there are European factories involved, they absolutely should.

Michael in Perris, California writes:
Sure, why should we be the only ones to reward failure?

John writes:
I suspect that pretty soon GM will make their case for bailout to the African wild life population. This scam is going global.


Filed under: Bailout • General Motors
soundoff (128 Responses)
  1. samir from florida

    Why should they? They helped us in a nonsense war and incurred debts of thier own. If we have so much pride that GM is an American company, then let America fix it. Would the US loan Japan money if Honda and Toyota were struggling?

    March 4, 2009 at 1:24 pm |
  2. Ron K

    Hi Jack:

    If they would like to throw good money after bad sure. Let them. I would suggest to the European's that they demand the CEO's and FCO's of the BIG 3 Auto makers get dismissed. Also, they need to replace the leadrship of The United Auto Workers. You need to get the MOB out of the unions.

    Ron San Diego

    March 4, 2009 at 1:25 pm |
  3. Kevin in Dallas, TX

    We already have the answer to this one. The Germans are bailing out Opel, but the Swedes are refusing to bail out Saab. That's all the help GM's going to get.

    March 4, 2009 at 1:28 pm |
  4. Terry from North Carolina

    Jack
    No one should help GM they did this to themselves, they have already gotten a big piece of our money thats enough. If the Ford Motor Company can keep their head above water so should GM.

    March 4, 2009 at 1:38 pm |
  5. Jackie in Dallas

    Why should they? Has General Motors done anything for them?

    Oh, yeah, they did...build cars that Americans didn't want to buy so that the market for European cars skyrocketed! I've owned two Fiats, two Isuzus, a Ford, and a Chevy, and the Fiats and the Isuzus outlasted both American cars substantially.

    March 4, 2009 at 1:42 pm |
  6. JD in NH

    No. General Motors should close their plants in foreign countries and bring jobs back to America. And that goes for every other American manufacturer as well. If we don't have jobs, they shouldn't be surprised when we don't buy their products.

    March 4, 2009 at 1:49 pm |
  7. Charlie in Belen, New Mexico

    Only when and if, the United States comes to the aid of Toyota or Volkswagen .

    March 4, 2009 at 2:02 pm |
  8. Rob, San Diego

    It would be great for American taxpayers if they did. But, any money Europe spends bailing out GM will surely be lost just as the American taxpayers money has been lost.

    March 4, 2009 at 2:09 pm |
  9. Chuck from Gulf Shores, Alabama

    Why would you even ask this question? Nobody saved Studdabacker or Hudson or do they still make cars I don't know about.

    March 4, 2009 at 2:12 pm |
  10. Mike Syracuse, NY

    Aren't they European jobs?

    March 4, 2009 at 2:22 pm |
  11. JR in Norfolk VA

    No, we shouldn't be beholden to them in any way. Let's get ourselves out of this jam and then help the Europeans. Trust me, they will dither around more than we will.

    March 4, 2009 at 2:25 pm |
  12. David,San Bernardino,CA.

    No! General Motors is responsible for it's own demise,let them fail.

    March 4, 2009 at 2:27 pm |
  13. Stacy from Leesburg, VA

    Jack, didn’t we do enough harm? I mean we exported a mountain of debt around the world and we have brought this world to the brink of economic collapse. Now, they want to have GM helped out by the Europeans? Man, would our forefathers shake their head at such a prospect.

    March 4, 2009 at 2:43 pm |
  14. Meg from Troy, Ohio

    Jack–
    Somebody should. Maybe Europe can bring that car company into the 21st Century. As a taxpayer, I'm tired of pouring money into General Motors and AIG.

    March 4, 2009 at 3:03 pm |
  15. jim Toronto

    Why should they? I don't see the U.S. offering packages or assistance to BMW, or FIat, or Renault, Audi, Volvo. If these companies are sufficiently solvent and can weather the storm without bailouts, all that says is that the management of the big 3 U.S. automakers needs an overhaul, top to bottom.

    March 4, 2009 at 3:04 pm |
  16. Ben

    Europeans warn us about protectionism when our stimulus plan has a "buy American" clause. They say that American taxpayer money should be able to be spent on European products as well as American products. Well, here's their chance to put their money where their mouths are and lead by example. Let's see if they're against protectionism, or just American protectionism. I bet they'll turn out to be hypocrites.

    March 4, 2009 at 3:04 pm |
  17. Tom from Philly

    Yes Jack they should. Rush the baffoon is the only one that thinks we arent in economic crisis world wide, dont even listen to him to make fun of him if you even entertain the thought of governments not getting involved to save the world's industry, it seems to be rotting your brain.

    March 4, 2009 at 3:06 pm |
  18. Denny from Tacoma, WA

    Maybe General Motors should go to Europe so they can enjoy the crappy cars. If I am not mistaken it is the Volt that is supposed to get GM out of trouble, but they are having trouble developing the battery. Just yesterday I heard in the news that a small company in California is producing battery powered automobiles with a 240 mile range with acceleration like a Porsche and a 15-minute recharge time on normal household electrical current. Is GM not attractive to the intelligent automotive and electrical engineers?

    March 4, 2009 at 3:08 pm |
  19. marlene

    Foreign companies shouldn't be expected to give financial aid to GM in the United States. If they want to help the GM subsidiaries located in their country, then that is their governments decision. I don't think the American public would be willing to provide a bridge loan for a foreign company located in Mississippi. Marlene in Mich

    March 4, 2009 at 3:16 pm |
  20. Vinnie Vino

    Jack,

    They should if the European Citizens in Europe still want to purchase GM cars from a bankrupted company...

    Central Islip, N.Y.

    March 4, 2009 at 3:31 pm |
  21. Jenna Wade

    Should European countries come to the aid of General Motors?

    Did we go to the aide of any European car makers?

    GM made their bed, now they have to lie in it.

    Jenna
    Roseville CA

    March 4, 2009 at 3:46 pm |
  22. Weldon from Canada

    Why should the Europeans come to the aid of GM??? They (the Europeans) produce cars both in the USA and Canada and hire the native workers to assemble same. If GM and the other North American auto producers had any IQ at all they would be producing vehicles which are state of the art and probably still be in business.

    March 4, 2009 at 3:54 pm |
  23. NICK

    For the past decade GM has become a company without a moral compass. They are now a dinosaur around the neck of the world. Let them die off so that newer and smarter companies can fill that void

    March 4, 2009 at 4:06 pm |
  24. David Gerstenfeld

    Any continent with money will do just fine !
    David

    March 4, 2009 at 4:06 pm |
  25. Darrell - Indianapolis, IN

    Didn't GM move all their Factories to Mexico???? Let Mexico help them out!

    March 4, 2009 at 4:08 pm |
  26. Ekbaaal from Burbank

    YES

    There should be something like BATO similar to NATO to help "B"usinesses !!

    March 4, 2009 at 4:15 pm |
  27. Kiran Mandava,Atlanta,GA

    GM is a sinking ship. No force can save it. I don't think European countries will or has spare money to pump into a foreign company like GM when they have better cars made in their backyards.

    March 4, 2009 at 4:16 pm |
  28. Jerome Nichols

    Their already getting to reward from the USA bailout. GM is closing US production facilities; thereby, focussing their production in Europe, South America, etc. Why would they throw away a freebie by offering to pay for it.
    Jerry N
    Sacramento, CA

    March 4, 2009 at 4:43 pm |
  29. Eric Bracke, Fort Collins, CO

    GM can do what they want. Why is this our concern?

    March 4, 2009 at 4:44 pm |
  30. Brittney

    Yes, Europe should help bailout GM we had to now its time for them to put a little in.

    March 4, 2009 at 4:46 pm |
  31. Bcoz Ont Canada

    Jack, cunning and wealthy financiers have avoided the wrath for having taken foolish risks in the PAST DECADES. Wall St and Bay St up here in Canada are playing the blame game. Its them and government opposition parties that’s at fault.

    March 4, 2009 at 4:47 pm |
  32. Jerry Harris

    If I were a citizen of a foreign country and they were thinking about loaning GM a dollar I would throw a fit.

    March 4, 2009 at 4:51 pm |
  33. JIM FALLBROOK CA

    Europe should not help General Motors as we should not help foreign car makers in our country.

    March 4, 2009 at 4:53 pm |
  34. marian dearborn

    yes, they need to help GM out just like we have. They drive the cars and have the jobs so use some your money to bail GM out. We need to shift the burden to other countries also.

    March 4, 2009 at 4:53 pm |
  35. Betty, San Diego, Ca.

    I do not think the European countries will aid a foreign company and I do not think America will come to the aid of Toyota, BMW, Sony or any other foreign company. America is not as close with the European companies as they are with Canadian companies.

    March 4, 2009 at 4:53 pm |
  36. BRUCE, ST PAUL, MN

    Yes, definitely. Maybe we should start taxing their citizens as well. If I'm not mistaken, some our T.A.R.P. money went to U.S.B. and possibly some other European banks.

    March 4, 2009 at 4:57 pm |
  37. Mike in St. Pete Beach, Florida

    Instead of blackmailing the U.S. government and the governments of the U.K., Germany, Spain and Poland...why don't they just make better cars? Oh, and repeating over and over that their cars are as good as Hondas doesn't actually make it true. Bush tried that approach with WMDs and here were are, six years later, still in Iraq, nary a WMD to be seen.

    March 4, 2009 at 4:58 pm |
  38. JD in North Carolina

    Wow, nothing says "class" like saying "We have factories here, so you owe us a bailout." Lots of luck GM.

    March 4, 2009 at 4:58 pm |
  39. garrick

    yes jack they shoul,we have plants over their and they make profits off the auto industry,so they should bail them out,hey if your book dont make it you should ask for a bail out.but your book will make it,good luck
    clearwater,fl

    March 4, 2009 at 5:01 pm |
  40. Guddy

    No, General Motor let Opel go and didn't participated on the good German cars. They was bind and stupid.

    March 4, 2009 at 5:03 pm |
  41. DrNorm

    GM (as well as Chrysler and Ford) have been bailed out by the Canadian Government. If GM employs Europeans in overseas plants, why shouldn't their governments also help keep this employer afloat??

    March 4, 2009 at 5:06 pm |
  42. Chad from California

    Sure, why not… And you might as well ask Japan to help out, while you’re at it. They are the real reason crappy U.S. cars are not being sold!

    March 4, 2009 at 5:08 pm |
  43. Richard

    Jack;
    Usually when we borrow money the lender would like to know why. GM says they need the money, but I have yet to hear what their vision is for spending it and restructuring their business as a viable automobile manufacturer. Saving jobs whether in the US or Europe is admirable, but if GM does not have a marketing strategy to proceed with, then when will they not need money to save jobs.
    I hate to say it, but the once largest automobile manufacturer in the world is riding down the highway of broken dreams and unfulfilled promises. A European loan seems more of a "fix" and less of a cure for what ails General Motors Corporation. Rich K. Miami, FL.

    March 4, 2009 at 5:09 pm |
  44. Jane (Minnesota)

    if there are European factories involved they absolutely should

    March 4, 2009 at 5:11 pm |
  45. Ann Boleyn

    Put GM out of their misery. They cannot make cars and cannot handle money.

    March 4, 2009 at 5:11 pm |
  46. Dicky Neely

    Hi Jack,
    General Motors and the other auto manufacturers asking for bail out money kind of reminds of the scene in "Blazing Saddles" where the sheriff is holding a gun on himself and says "Help me! He'll shoot!"
    Dicky Neely
    Corpus Christi, Tx.

    March 4, 2009 at 5:11 pm |
  47. S in West Virginia

    It's about time our companies went somewhere else to get bailed out. The EU has a bigger GDP than us and less than a "multi-national" debt, so let them pay to help. Europe has been calling for an "international solution" to this problem. Well, here's their chance to prove they're willing to work internationally toward a solution.

    March 4, 2009 at 5:11 pm |
  48. Linda

    If they want GM to stay in their country why shouldn't they donate to the fund. My question would be...how much of our tax dollars are going to support their Europeon locations and are they closing plans in the US to keep Europe open.

    Linda
    Indian Trail

    March 4, 2009 at 5:12 pm |
  49. James, Sun City CA

    Should Europe help General Motors? Well, Jack, only if it wants to.

    March 4, 2009 at 5:12 pm |
  50. Bryan M

    It depends on how desperately they want to save those 300,000 jobs. If I were a European and my government was bailing out an American company I would be pretty upset.

    March 4, 2009 at 5:12 pm |
  51. Steve - Texas

    So don't help them. Then just drop European production and see how they like the job losses. If those "with" are supposed to help those "without", why shouldn't that apply to everyone? If the countries benefit from employment by GM, then line up to help.

    March 4, 2009 at 5:12 pm |
  52. Robert

    Do you really think that EU countries would bail out an American corporation before they bailout their fellow European countries?

    March 4, 2009 at 5:12 pm |
  53. Chris Burns

    No, Jack, if these motor companies, especially GM, don't participate in fair capitalism like everyone else, then nobody will! There will be chaos if these bailouts continue.

    March 4, 2009 at 5:12 pm |
  54. Vince

    From Atlanta,

    I think the European countries should help themselves to General Motors. Pay GM, and take over the plants. That should help everybody.

    March 4, 2009 at 5:12 pm |
  55. PIM DUFF

    it seems to me that if European countries have GM plants, they should chip in ..........why does the USA always have to do all the bailing out of everything.

    March 4, 2009 at 5:12 pm |
  56. Mark in NC

    GM is essentially commiting extortion across the globe.

    Companies that have paced themselves into bankruptcy should stand on thier own merits. While they are laying the little guys off the corporate execs are still raking in the cash and asking for bailouts.

    I have had a business fail on me. No bailouts for me.

    Get off the high horse and stnd up on thier own I say. If they cannot do business then they need to sell to someone who can.

    Governments cannot keep giving bailouts while trying to get the global economy in order.

    March 4, 2009 at 5:13 pm |
  57. Anthony from Atlanta

    All of those businesses are related anyway, right? For this reason (alone) I would have to suppose that what happenss in Europe stays in America. Who really knows what happens behind "closed doors," anyway? What was your question again? I'm sorry, Jack. I'm from the upper-lower class.

    March 4, 2009 at 5:13 pm |
  58. Diane Dagenais Turbide

    Jack,

    it other countries are not part of the solutions they end up with the problem with layoffs which ends up costing them even more! As long as the company estructures fairly across the board to reduce the most negative impact in all regions!

    March 4, 2009 at 5:13 pm |
  59. Lindsay Astin

    Isn't there always more than one perspective to anything like this – Gordon Brown wants the world to share responsibility for the crisis and future prosperity, however how would the USA feel if BMW asked the US for a bailout – there are lots of BMW dealerships in the USA.

    March 4, 2009 at 5:13 pm |
  60. Cordele Rolle

    It's a private company let them do what they want. But if they fail, give us our money back!

    March 4, 2009 at 5:13 pm |
  61. Paul Rogers, Walker, Michigan

    That is a silly question Jack!

    My answer is absolutely not. No one, including the government should help GM or any other auto company that is failing.

    Any normal business would never be saved if it fails, so why should GM, Chrysler, Ford, UAW or any other company that has CEO's and executives that run the company into the ground be allowed to be saved.

    They should fail and I hope they fail and quit wasting our tax dollars.

    Paul
    Walker, Michigan

    March 4, 2009 at 5:13 pm |
  62. alex

    Of course they should, Generous Mobsters (GM) has learned that shaking down governments is more profitable than making cars.

    March 4, 2009 at 5:14 pm |
  63. Andy, DeKalb, IL

    They shouldn't get anything, from Europe, or anyone else. What incentive exists for GM, or AIG for that matter, to do anything right when lemon socialism is the rule of the day?

    March 4, 2009 at 5:14 pm |
  64. John C

    I suspect that pretty soon GM will make their case for bailout to the African wild life population. This scam is going global and how about you Jack, why you are yet to contribute to GM do you have a problem with giving to the poor?

    March 4, 2009 at 5:14 pm |
  65. Michael from Perris Ca

    Sure, why should we be the only ones to reward failure?

    March 4, 2009 at 5:16 pm |
  66. AL from Phoenix

    No GM should not get any money from anywhere. Its time to let the old trees in the forest fall so that the understory can grow. Far too long have they been making sub-quaility cars have failed to plan for the future and got caught with their pants down and now they want help.

    I think smaller eco-freindly car companies should be allowed to grow

    March 4, 2009 at 5:16 pm |
  67. Kathryn from Spokane, WA

    The only way any country, especially ours, should help the auto industry is by giving vouchers to taxpayers that can be used only toward the purchase of vehicles from the auto manufacturers that are in trouble. Of course, the greedy auto industry would have to be strictly regulated to prevent them from jacking up prices when we all go out to buy our vehicles. This solution would stimulate the auto industry, while benefitting the taxpayers who are incurring the debt.

    March 4, 2009 at 5:16 pm |
  68. James K Chambliss Destin, FL., USA

    Somewhere in the bowels of Hell, Satan is giving Roger Smith a bill for room and board. The irony of GM asking for handouts is just so so sad. Might as well put a fork in them because they are done!

    March 4, 2009 at 5:16 pm |
  69. Byron Crane

    GM is a key component of the world economy, and they must be given this LOAN. It's odd that nobody flinches in giving AIG/Citi Bank/Bank of America HUNDREDS OF BILLIONS to help solve problems they created! GM helped build this country, it's time every country step up to save this vital industry, or we will regret it for generations to come! Wake up people!

    March 4, 2009 at 5:16 pm |
  70. Les Small

    I think that all foreign countries should help in bailing out U.S. corporations that outsources manufactoring jobs to their country. It sad that these corporations asks for American taxpayer money but gives their jobs to foreigners. God Help American policy, lawmakers, and CEO's.

    Les Small-Stone Mountain Ga

    March 4, 2009 at 5:17 pm |
  71. Sarah in Iowa

    I didn't think the USA should help bail out GM... and now they are crawling to Europe because we aren't giving them more?! It is ridiculous. Besides being likely that they will fail anyway and then this money will be down the drain, they did this to themselves. Let them figure a way out of it. You don't see the government pouring billions of dollars that could go to other things into my local businesses that are closing their doors – you can't help everyone, some will have to sink.

    March 4, 2009 at 5:17 pm |
  72. Farrell Sacramento, CA

    Sure Jack, they should come to the aid of GM.

    Here's why; I think they too should get a chance to feel just as foolish as we do for providing a crutch for a company that is so poorly run that it must rely on corporate welfare to stay afloat.

    March 4, 2009 at 5:18 pm |
  73. Tim Sullivan

    It appears that GM's new "ace in the hole" is to scare the cash out of big governments using the fear of jobs possibly being lost. Well, it worked on the U.S. Government. Why not try their hand in Europe?

    Is there no shame? They've shamed themselves in front of the American people, and now they shame this themselves and this nation on the international stage. Are there any high rolling investors out there who are willing to bet on this company now?

    March 4, 2009 at 5:18 pm |
  74. C myers

    Jack the GM problems in the U.S. are always blamed on the labor unions yet now GM needs help in the overseas where GM can't blame the unions! I think the problems are with the fat cats at the top getting fattter! if they recieve money lets hope it goes to the working people and not the fat cats!

    March 4, 2009 at 5:19 pm |
  75. Sarah in Iowa

    I just had to add... if GM wants to sell cars how about lower their prices? Over $40,000 for a car?! That's over a year's salary for some. If they are so desperate, I'd like to see desperate prices.

    March 4, 2009 at 5:19 pm |
  76. Mike Starke Pembroke Pines FL

    GM stands for general malaise. You're talking about a company that gave their bailout money to Brazil so it wouldn't make sense to take money from Europe.

    Let them file chapter 11.

    March 4, 2009 at 5:19 pm |
  77. David, MD

    It’s time for GM to restructure: in simple language that means shed off some fat. I do not think that the European countries are going to bail them out. Right now GM is grasping at some straws but their fall looks more and more inevitable…

    March 4, 2009 at 5:19 pm |
  78. Frank

    Just one more level of arrogance left over from the times of prosperity. I think GM is more concerned that the "No-Bid" contracts to supply Hummers to the military will go away. Isn't it normal to go to all your relatives and friends when you want to "borrow" money?

    I think that GM et al, as well as the banks, brokerage houses and insurance companies should get back what they shared with us when times were good for them.

    March 4, 2009 at 5:19 pm |
  79. SmokeyC4

    Those countrys that made American Cars and have now lost they're jobs should protest and stand by American Auto workers.

    Why in the world will people simply not come out and say........This is George Bushe's Faught.

    Now we can only hope that Obama can fix this broken puzzle in which Bush threw peices away.

    Its time for the Radio Rush to stop rushing to judgment and start acting like Americans.

    We all need our President to succeed Period.

    March 4, 2009 at 5:20 pm |
  80. Joe

    If GM is receiving billions of American dollars in aid then GM should be keeping American plants open and close the European plants. If they have plants in Europe, then Europe should contribute. What is GM doing with all this money anyway?

    March 4, 2009 at 5:20 pm |
  81. Elmer

    Absolutely they produce and sell cars over there too.

    March 4, 2009 at 5:20 pm |
  82. Van from Virginia

    Jack,
    I personally think that GM companies can die off like when they killed the electric car in 1999 but this is really an issue for that country to debate. In the end GM is going to ask for money from every country that they can. The real question is what plans do they have to really turn this all around.

    March 4, 2009 at 5:20 pm |
  83. UrbanCntrySoul of Nashville, TN

    Yes, Europe should share in the financial burden. If there are factories or plants in those countries... that means European employees are fulfilling the jobs and if they don't want to share in that burden then GM needs to close or sell those facilities off.
    The American tax payer will not support corporate welfare or subsidies for Europe.
    Oh.. yeah and they need to make better cars.

    March 4, 2009 at 5:21 pm |
  84. Kevin

    If Europe wants to give GM money, I guess let them. One thing though, I heard the CEO of General Motors made $15million a year. Hmmm, there are alot of people unemployed right now, probably alot who are qualified to head up this sad, tired company. I would bet they'd do it for alot less than $15million a year, and they'd probably do a better job.

    Why give any of these companies ANYTHING when they pay their executives so much. I have been and Accountant for 22 years and I simply know of NO ONE worth that kind of money for a days work. Enough said!

    March 4, 2009 at 5:21 pm |
  85. Angry In Illinois

    GM has gotten themselves into this mess by not being fiscally responsible and in not building a well made product that appealed to the public.

    Possibly they should ask Toyota how they managed to build vehicles that appealed to the majority of Americans, while employing an American workforce and making a profit!

    March 4, 2009 at 5:22 pm |
  86. SmokeyC4

    Oh I almost forgot................It would be a crime if Bush wasnt charged with crimes against more than words can say.

    SmokeyC4

    March 4, 2009 at 5:22 pm |
  87. Judy in Ontario Canada

    No. Sorry about job loss but who is going to buy the cars?
    GM is like a banana republic, taking money and wasting it.

    March 4, 2009 at 5:22 pm |
  88. john

    why you think g.m. can get a loan at an affordable rate is beond me.and why cnn finds it nessesery to miss lead the public is shamfull.you must think g.m. is a repulician company the way you bash them. by the way the election is over the demicrats won you can stop bashing then repulician party. jack you are as biais as they come!

    March 4, 2009 at 5:23 pm |
  89. Jeffery, Toledo, Ohio

    Why not? It's simply the reality of a global economy, and a global crisis. Multinational corporations employ people multinationally, and that spreads the responibility around in times like this. GM's clearly in trouble and needs help, but even though they may be an "American" company, it doesn't mean that the other nations whose citizens they employ shouldn't help shoulder the burden.

    March 4, 2009 at 5:24 pm |
  90. Bob D. Morristown, NJ

    This is a very tricky situation. 300,000 are a lot of jobs, and the net effect for European taxpayers may be a greater burden if they don’t provide a bailout, just as in the US. On the other hand, their impetus for helping is not as great. These GM divisions are foreign, not domestic companies. Unlike the US where two of three major manufacturers are at immediate risk, and the entire industry could be lost, Germany, in particular has five of its own thriving auto companies. So it’s more of a dilemma for the European governments, but my inclination would be to go ahead with the bailout to avert worse consequences.

    March 4, 2009 at 5:24 pm |
  91. Angelo

    They are holding jobs for ransom... "Give us 4.2 billion or we will fire 300K employes said Austin Powers".. We keep falling for it and CEO's eat the crumbs the fall of the cake.

    March 4, 2009 at 5:25 pm |
  92. Christine, Thousand Oaks Ca

    No, they shouldn't, and neither should we. GM is a horribly managed, giant money pit/black hole. I spend several weeks in Europe every year and, surprisingly, have wondered why I don't even see Opels anymore, let alone GM's other turkeys. But I see loads of Japanese and Korean cars as well as the traditional European brands, including tons of Smart cars. Seems the Europeans have also figured out that GM doesn't make an attractive, well-built, fuel-efficient car like Europe and Asia do. Too bad, GM. You did it to yourselves.

    March 4, 2009 at 5:26 pm |
  93. Michael Clark

    Yes they should. If these countries benefitted from GM during its profit making days then they should also suffer the same pain Ameicans do. I mean it is the American taxpayer sliding money there way. Spread out the misery.

    March 4, 2009 at 5:26 pm |
  94. Louis Allen

    YES

    March 4, 2009 at 5:26 pm |
  95. George F, Texas

    Why not Jack ? Every state in this country that has a foreign car manufacturer has been given millions and millions of dollars in tax breaks to locate there, so is it not fair for GM to get its share from the foreign governments also ? or is this just like NAFTA and CAFTA , screw the Americans for the good of foreign intrest !

    March 4, 2009 at 5:27 pm |
  96. Christine, Edmeston NY

    When Black Jack Pershing said, "Lafayette, we are here," he wasn't kidding. For many years after that, we spilled a lot of American blood on European soil to rescue and restore all that is precious to Europeans. So why shouldn't European governments help out the US in any way possible? The problem with the GM request, however, is, as usual, it's all about the corporation, not about the country. Now they're trying to convince their foreign divisions that a bailout will help people in those countries, too. Lafayette, we are sorry.

    March 4, 2009 at 5:27 pm |
  97. Carroll Barber

    Jack – Why would Europe help GM when they know the USA has their back. Another thing, does anyone ever check out the numbers these company's throw out ? (i.e. there will be 300,000 jobless)
    Carroll in Cedar Park, TX

    March 4, 2009 at 5:27 pm |
  98. shawn-nashville

    yes they should help if they want to help participate in fixing the global economy! if we are supporting them they need to support us period!

    March 4, 2009 at 5:27 pm |
  99. john

    no they didn't do anything to help them and its their own fault that they did not look out for themselves so they're the people who are responsible for the trouble they got themselves into

    March 4, 2009 at 5:27 pm |
  100. June Holmes

    Hi Jack! Finally, something I have to say about it! In '99, I bought a top of the line Cadillac El Dorado, ETC, I had gotten too old for the Corvette and needed a little more room. I have been a Chevy fan my whole life, until this fatal error! It was the biggest piece of CRAP I have ever owned, 18 trips back to the dealership in as many months. I eventually bought an Acura, absolutely NO help from GM at any point after loads of pleas through emails and letters. They chose to outlast me rather than to resolve the issues and fix or replace the El Dorado. My heart breaks for the GM workers, but the old adage of "build a better car and they will buy" was never taken seriously. I have driven Chevy's built in Australia, I have friends in Japan that have them, and the outlook is NOT good for any "bailout" from foreign markets. I still love Mom and Apple Pie, but GM is permanently off my list and I am certain that Europe will feel the same, if not more protective of their own brands than we have been about ours.

    March 4, 2009 at 5:28 pm |
  101. Austin

    I am a fourteen year-old teenager and a huge general motors fan and even I think this is ridiculous. It's just another way to sneak more money into the CEO's pocket. Sell your million-dollar mansions and your private jets before you even try to ruin the global economy.

    Austin
    Waxhaw, NC

    March 4, 2009 at 5:29 pm |
  102. Matthew

    Jack, now I KNOW that the bailouts are nothing but bunk! This is nothing more than a rich man's freeforall, get all you can any way you can (that doesn't including people who work hard to become rich, btw).

    What next? Is AIG going to start asking the rest of the world to give them a handout after two handouts from us? It looks to me like someone's trying to bankrupt this country, and perhaps more countries as well, I just don't know who..........

    March 4, 2009 at 5:29 pm |
  103. Barbara - NC

    I'm gonna give you a very self-centered one - I have my Camry Hybrid – couldn't care less what GM and Ford do.

    March 4, 2009 at 5:29 pm |
  104. Dave, Vancouver, Canada

    Let's do the math: $4.2 billion divided by 300,000 workers = $14,000 per worker, which will keep them employed for ... what ... maybe four months? If anyone believes this global recession will end within 4 months, then yes, Europe should bail out GM. If not, no.

    March 4, 2009 at 5:29 pm |
  105. john, topeka, kansas

    no they didn’t do anything to help them and its their own fault that they did not look out for themselves so they’re the people who are responsible for the trouble they got themselves into. they're getting lots of money and they are just wasting it. THEY SHOULDN'T EVEN GET A SINGLE DOLLAR!

    March 4, 2009 at 5:31 pm |
  106. Jay

    More extortion! Don't give the crooked bastards a damn cent more
    and let 'em all fail.

    March 4, 2009 at 5:31 pm |
  107. Paula

    YES! Why not? They set up business there with the Impression, if they need help like any other Business. If they ask They will get? One catch, the local Native car makers will expect a piece of the action.

    March 4, 2009 at 5:32 pm |
  108. Matt from Philly

    Are we helping all the foreign automakers in the United States? No. Why would Europe help GM? It is obvious the GM is in its last throws and will soon need to declare bankruptcy and restructure. To GM: Thanks for years of cutting corners and making mediocre vehicles to save a buck. And thanks for tarnishing the credibility of the American worker.

    March 4, 2009 at 5:33 pm |
  109. AnnelieseBraselton

    can you possibly ask anyone else, you are running out of countries!!! get a grip folks and get your head out of what ever you lost it in

    March 4, 2009 at 5:35 pm |
  110. Richard Williams in Larchmont, NY

    Jack,
    Not a snowball's chance. Close those plants and bring those jobs back here. They can start new car companies here to replace GM and Chrysler. There is plenty of ingenuity in these unemployed auto workers. They know how to get something new started.

    March 4, 2009 at 5:35 pm |
  111. judy

    Absolutely positively NOT. As Margaret Thatcher once said, " The problem with socialism is that eventually you run out of other people's money." HELLO fellow Americans, are we going to bail all these nincompoops out after they turned their heads from taking responsibility for their actions? And in the long run there goes OUR hard earned money. Tell me again who wins here?????

    March 4, 2009 at 5:35 pm |
  112. Richard Ragel Jr.

    GM cannot handle money plain and simple. the government needs to take over their spending and control it...now... or all hell is going to break loose. Oh just wait lobbiest, congressman, brokers, and just about everybody else thinks hell is going to freeze over... wewll news flash people it's just going to get hotter so grab some sunscreen

    March 4, 2009 at 5:36 pm |
  113. Greg Ontario

    Auto workers under the thumb of their Union leaders have become a bunch of cry babies. Why should the Europeans have it any different than we do?

    March 4, 2009 at 5:40 pm |
  114. Teresa

    If Europe allows them to sucker them into a money pit as they did the United States? Who am I to say no?

    March 4, 2009 at 5:40 pm |
  115. John, Fort Collins, CO

    I'd say that is up to the European countries involved. Prior to the meltdown, the Opel brand was doing better than the North American brands. Opel might do better without GM, if they can round up a few billion euros in aid.

    March 4, 2009 at 5:41 pm |
  116. Purnell Kankakee lL.

    No,

    As they says what you put out will soon come back to you, GM and the other Automakers here in the U.S. put out many bad products for years, and would not listen to their customers, anyone that went to business school knows the customer has valuable data and information on what they want to buy, they did not so now is the time that they fall just like Rome did!

    March 4, 2009 at 5:42 pm |
  117. max, Kansas

    Jack

    they should not get anything. its ridiculous! they did not do anything to deserve it. they are going to waste the money like they did with the rest. Europe should not help them. there are smarter companies than GM and let GM get bankrupt. if Ford can maintain their level Gm should also be able to.

    March 4, 2009 at 5:42 pm |
  118. brian, florida.

    not a single dollar. thats all i have to say.

    March 4, 2009 at 5:44 pm |
  119. Bob

    Please, please just them got into bankruptcy. They are holding a gun to the heads of their Canadian companies by asking for bailout money. Now they are holding a gun to the heads of the companies abroad. When is it going to end?? I'm sure that the trustees can run the companies better than the present CEO'S. At least we will know that the funds will be going to where it will do the most good.

    March 4, 2009 at 5:44 pm |
  120. Sunnie

    Cars are too expensive, so I take the bus. Maybe if they weren't so expensive, we all could drive one and the car companies would succeed in America....

    March 4, 2009 at 5:44 pm |
  121. Frost

    cool.. maybe the cars will be better..

    March 4, 2009 at 5:45 pm |
  122. Purnell Kankakee lL.

    No did anyone help Preston Tucker and he had a great car that the Auto maker did everything in their power to shut down, so now is the time for GM to shut down! Admit it they failed in everyway!

    March 4, 2009 at 5:45 pm |
  123. E.J. in Tacoma

    Why not help if they have vested interest in GM I think they'd want to keep their investments afloat! It would be a shame if we let GM just die and all those people lose their jobs!

    March 4, 2009 at 5:46 pm |
  124. Anna

    Of course Europe and China should help GM. We give all kinds of brakes to foreign auto companies IN US. Our companies do not get those kind of brakes in Europe or China. We should also require China to include cupons for GM cars as part of their stimulus package to show that they are not protectionist.

    March 4, 2009 at 5:46 pm |
  125. Purnell Kankakee lL.

    No,

    Piss poor preparations leads to piss poor performances, GM and the other Automakers along with many of the big companies are nothing but Black Holes, and nothing that goes into a Black Hole will ever come back out, and that includes any money in profits or paying back of loans. Save your selves a lot of heart ache EU!!!

    March 4, 2009 at 5:47 pm |
  126. Chuck

    Are you serious? Why should Europe help GM? European car companies such as BMW are not failing like GM and Chrysler

    March 4, 2009 at 5:50 pm |
  127. Chris from Wausau

    well, I presume the money given by the U.S. Govt. stays in this country, so it would follow that foreign governments should cough up money to keep jobs in their country.

    March 4, 2009 at 5:51 pm |
  128. Purnell Kankakee lL.

    America has become the whore of babylon trying our best to buy friends all across the world if the UE want to follow suit have at it!

    March 4, 2009 at 5:55 pm |