(Rev. Jesse) Jackson: 'It's not the Big Three. It's 4 million jobs'

Source: Detroit News

Thursday, December 4, 2008
Jackson: 'It's not the Big Three. It's 4 million jobs'
Oralandar Brand-Williams / The Detroit News

DETROIT -- The Rev. Jesse Jackson said today that denying a federal loan for the struggling Big Three automakers would be devastating, collapsing the nation's economies and sending cities in a downward spiral.

Jackson met with The Detroit News' editorial board for 45 minutes to outline his support for a loan for the domestic auto industry.
"It's not the Big Three. It's four million jobs," Jackson said on Thursday.

His comment come on the day that the presidents of Chrysler, Ford and General Motors and the head of the United Auto Workers union are on Capitol Hill asking for a $34 billion loan to save the beleaguered domestic automotive industry from a possible demise.

Jackson said there is an apparent double standard in the treatment of the automotive companies and the Wall Street banks and AIG by Washington bureaucrats. "It's not fair," Jackson said. "It's also about red and blue states. I'm not sure we have the freedom to be so dismissive about our neighbor's pain."

Read more: http://www.detnews.com/apps/pbcs.dll/article?AID=/20081204/METRO/812040472

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Video available at the link.

Blue collar vs. white collar, guess who gets it and who doesn't? Damn right Jesse!

the fact that it's not just about the auto industry. It's also about all the businesses and industries dependent on the auto industry - and then the businesses dependent on the business of those employed in those businesses/industries. These things have a ripple effect!

Computer chips to leather.

All will be hurt.

:sarcasm:

The auto industry is one of the last industries to go. Most of the rest of our manufacturing base has already been destroyed. It does not good to bail out the auto industry if Americans can't afford to buy the cars made by the U.S. auto industry. And until the rest of the country gets back on its feet, the auto industry is not going to recover. The purpose of the auto industry is not to employ people but to sell cars. You can't sell cars to people who don't have the money to buy them. So, sure, bail out the auto industry, but don't expect the bail-out to do much good. The whole country has to be bailed out. That means renegotiating trade agreements and stopping the job outsourcing. It probably means re-imposing tariffs.

The auto industry's troubles are just a symptom of a much larger problem.

the idea that the bailout doesn't guarantee one job -- except for the CEOs. We're throwing money at the banks with both hands, and they are laying people off as fast as they can write the pink slips.

We shouldn't just shovel money into the auto makers without some guarantees about jobs -- or at least a freaking business plan on how they're going to use the money to save jobs.

My prediction: We give them the money. They blow through it, start laying people off, and then come back for more money. Rinse and repeat. In the end, the jobs disappear anyway -- along with a couple of hundred billion of our money.

we are STILL going to lose a couple million auto industry related jobs in 09

It's a friggin' loan with a payback period pegged at 2011 to 2012.

Can you say the same for the $ 750 Billion that went to the banking industry?

Oh, and how many of them faced Congress before they got their handout?

money being handed to it. That is because our economy is just too weak to keep up the demand for cars.

You can't find a decent buggy whip these days, I tell ya, if we had only bailed out the buggy whip industry things would be different today.


Our Nero

we didn't need buggy whips any more. we still need cars.

dude.

:evilgrin:

OKAY, OTHER than Amish Country.

Thou hast caught me. Forsooth, or whatever.

Are we all going to be Amish in the future? Well, I'll help ya build a barn, but I'm not wearing that hat.

There is no future in oil based industry, at least no long term future. It's an obviously finite resource. And our economy is tanking to fast for a switchover at this point. Learn how to garden if you don't already know and go get to know your neighbors before things get really bad - you'll need them. The thing that we all knew, on some level, was going to be visited on our children and grandchildren is going to be visited on us, now.

for making Buggy Whips.


Total National Employment effected if just GM goes under: 3 million, withn 60 days. 6 million within one year.


You know, just for perspective.

as it stands, I see this as corporate welfare that's going to pay for the new factory in China.

I stopped believing in this when the credit companies and bank industry got the bail out. How many have they laid off this week - tens of thousands. That was some bail out...

Hard to believe people think this bail out will be any different. We're talking about the corporations like GM that started the moving of factories to other countries and continuing that for decades acting like they're going to save US jobs now. I see this as holding us hostage in a threat to get rid of jobs that they'll get rid of anyway. All this means is their ceo's want millions in raises as they leave.

There should be strings. They shouldn't be rewarded for outsourcing our jobs anymore. Total agreement. But don't throw out the baby with the bath water. Doesn't make sense.

And it AIN'T a bail out. It's a loan.

As it stands the only thing I think they deserve is way higher tarif's for using foreign labor and selling the cars back to us.

They're just moving to India. :shrug:

Oh, BTW: :sarcasm:

Poor Mexico - all those GM factories fleeing to China with the last factories leaving the US too. I've already heard Mexico and India crying in the news about companies leaving for cheaper ground and less regulatory laws.

do we want to subsidize more job losses with a FAILING industry --

NO -- let's buy the plants -- keep all workers on --

start building ELECTRIC CARS ...

NATIONALIZE OIL -- SAVE THE PLANET -- !!

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:)

They are no friend of labor or the blue collar worker..

if he published in the Freep or News...

and have separate editorial boards. If not they sure are a study in opposites..

They put out two separate papers, but they are under the same management.

he has stood up for the little people his entire life.

I also think it's unlikely that they will be able to repay the loan in our present economy - though I do think that if they survive they will repay it eventually. All the same, it's pretty small.. Jesus, calling billions of dollars small... but it is, in comparison to the bail out.

We're talking about millions of jobs lost, a staggering ripple effect, a whole lot of crap hitting the fan. It may happen regardless of what we do now, but I think we should help out if we can. Of course, with strings attached.

It's a difficult situation altogether, but I'd rather not see that many jobs go down the drain. Speaking from personal, and present experience, being unemployed sucks.