• Jalopnik
  • spy-photos
  • jalopnik-reviews
  • Profile logout login

#bigthreebailoutbill

Jalopnik

Share Cancel
   
Upload an image | Add an image URL
×

logging in
  • FAQ. Include # before tag:
  • #offtopic,
  • #tips,
  • #spyphotos,
  • etc.

Detroit, 5:46 PM
Fri Dec 11
29 posts in the last 24 hours

Contact

Tip your editors:

Editor-in-Chief:
Ray Wert | | AIM

Road Test Editor:
Wes Siler |

Weekend Editor:
Murilee Martin |

Associate Editor - Houston:

Associate Editor - Detroit:

Editor-at-Large:

Contributors:

John Krewson |

Follow Jalopnik on:
Facebook
Twitter

SUBSCRIBE TO Jalopnik RSS

New: Breaking news and daily top stories via email
1753 Subscribers
Jalopnik
  • posts about #bigthreebailoutbill more →

    Full Text Of The Not-So-Big Three Automaker Bailout Bill
  • Your version of Internet Explorer is not supported. Please upgrade to the most recent version in order to view comments.
    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of MushyHeirloom MushyHeirloom
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
     Reply
    MushyHeirloom was starred MushyHeirloom was unstarred
    Image of Deartháir II Deartháir II
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
    Wow, what a terribly written bill. It's quite obvious they were pouring over this all last night. And by "pouring", I mean "pouring gin". Some observations:


    The "golden parachute" definition is about as vague and full of holes as it can be, but will make for good press.


    The Car Czar they describe will have authority to dispense funds as he sees fit. He will operate largely with autonomy from Congress, and has the ability to change the terms of the bailout plan as he sees fit, requiring only to notify Congress, not to seek its approval.


    The restriction on bonus and executive compensation is to the 25 most highly-compensated executives, not to the 25 most senior. As the CEOs are receiving $1/yr salaries, this restriction does not apply to them in the vague language of the Act.


    Judges are getting a cost-of-living increase in fiscal 2009? Huh? Oh. Right. Pork.


    This does not prevent or remove any authorities from Ben Bernanke or Hank Paulson with regards to any plans they would like to put in place to provide further funds or funding to the Detroit Three, and in fact specifically provides them with that opportunity, if they'd like.

     Reply
    Deartháir II was starred Deartháir II was unstarred
    Image of RLJ676-LS3 Commuter Car - for the environment RLJ676-LS3 Commuter Car - for the environment
    12/08/08

    @Deartháir and his eight little drained beers:


    As I'm to lazy/saddened to read this thing, it doesn't sound like there's too much in there terrible (ie CAFE like nonsense)?

     Reply
    RLJ676-LS3 Commuter Car - for the environment was starred RLJ676-LS3 Commuter Car - for the environment was unstarred
    Image of Deartháir II Deartháir II
    12/08/08

    @rlj676-new job, same problems: You should be happy, actually. From my initial read of the bill, it sounds like the Car Czar has full authority to grant everything the Automakers asked for.
     Reply
    Deartháir II was starred Deartháir II was unstarred
    Image of RLJ676-LS3 Commuter Car - for the environment RLJ676-LS3 Commuter Car - for the environment
    12/09/08

    @Deartháir and his eight little drained beers:


    That's what I'm thinking, that basically if the "czar" isn't a simpleton, this is a reasonable deal.

     Reply
    RLJ676-LS3 Commuter Car - for the environment was starred RLJ676-LS3 Commuter Car - for the environment was unstarred
    Image of Deartháir II Deartháir II
    12/09/08

    @rlj676-new job, same problems: I foresee a lot of problems, however. It's a very poorly written bill, obviously done quickly to just get it pushed through as fast as possible.


    It took me quite a while, but I did figure out where the limits on funding are. This bailout draws from the $25B energy-efficient-cars fund. So no, they didn't get everything they asked for.


    Not my eyes are crossy and my head hurts. They need to hire English students to write these things.

     Reply
    Deartháir II was starred Deartháir II was unstarred
    Image of dontknoa dontknoa
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
    The big lesson nobody's really learning here is what state control does to an auto industry. Take a look at Russia. They are still building brand new Fiat 124 based cars like it's 1964.
     Reply
    dontknoa was starred dontknoa was unstarred
    Image of Deartháir II Deartháir II
    12/08/08

    @dontknoa: You're right, it's worked terribly for Volkswagen.


    Wait...

     Reply
    Deartháir II was starred Deartháir II was unstarred
    Image of dontknoa dontknoa
    12/08/08

    @Deartháir and his eight little drained beers: That one I can't explain. Their quality is the same or worse than GM/Ford/Chrysler but somehow people keep buying their cars. Excellent marketing department?
     Reply
    dontknoa was starred dontknoa was unstarred
    Image of Deartháir II Deartháir II
    12/08/08

    @dontknoa: Perceived quality. Volkswagen kicks the snot out of all of them; VW has (or "had", I haven't driven the MKV cars because, frankly, blech...) the best interiors on the market, up and down the range. Compared to an equivalent Chrysler, you feel like you're sitting in the lap of luxury.
     Reply
    Deartháir II was starred Deartháir II was unstarred
    Image of theeastbaykid theeastbaykid
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
    Bailing out the Big Three is a lot like owning a Grand Am with a Quad 4. While it's possible to keep it going, it may not be possible to keep it from sucking.
     Reply
    theeastbaykid was starred theeastbaykid was unstarred
    Image of WilliamG. WilliamG.
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
    I just heard Pelsoi explain to the media that both Chrysler and GM are expected to be viable companies by March 31. Is it just me, or is that a little optimistic?
     Reply
    WilliamG. was starred WilliamG. was unstarred
    Image of Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face.
    12/08/08

    @WilliamG.: It's not just you.
     Reply
    Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. was starred Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. was unstarred
    Image of Rayeth Rayeth
    12/08/08

    @WilliamG.: A bit more than a little bit. Although "viable" in this context probably doesn't mean "profitable" like one would expect.
     Reply
    Rayeth was starred Rayeth was unstarred
    Image of Ray Wert Ray Wert
    12/08/08

    @Rayeth: I'm fairly certain "viable" means not-yet-dead.
     Reply
    Ray Wert was starred Ray Wert was unstarred
    Image of theeastbaykid theeastbaykid
    12/08/08

    @WilliamG.: What year?
     Reply
    theeastbaykid was starred theeastbaykid was unstarred
    Image of Schm, enjoying his first desert winter. . Schm, enjoying his first desert winter. .
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
    Can I get some sparknotes here?
     Reply
    Schm, enjoying his first desert winter. . was starred Schm, enjoying his first desert winter. . was unstarred
    Image of M4XVLTG3 makes rotary love M4XVLTG3 makes rotary love
    12/08/08

    In reply to Full Text Of The Not-So-Big Three Automaker Bailout Bill
    "and for other purposes"?
     Reply
    M4XVLTG3 makes rotary love was starred M4XVLTG3 makes rotary love was unstarred
    Image of combat chuck combat chuck
    12/08/08

    @AF_H1VLTG3: Meaning, any hunk of pork the legislators can tack on at the end.
     Reply
    combat chuck was starred combat chuck was unstarred
    Earlier discussions Other discussions Show all discussions Show featured discussions only Start a new discussion

Login

Enter your username and password.

Please enter a username.
Please enter your password.
logging in
Login via Facebook | Sign Up | Forgot Password?

Reset Password

Please enter your email address to have your password reset.

Please enter your email address.
Please enter a valid email address.
requesting password reset

Register

Registering will give you a user profile and the ability to add other users as friends. To become a commenter, however, you need to audition.

Want to know more? Consult the Comment FAQ and legal terms.

Please enter a username.
Please enter a password.
Please confirm your password.
Passwords are not identical.
Please enter a valid email address.
registration sent, waiting for reply

Submit Your Comment

You don't need to login to comment. Just enter your email address below.

See how your address will be displayed in the Comment FAQ.

Please enter a valid email address.
Please enter a valid email address.
logging in

Login with your Facebook or Jalopnik account.

Sign up here.



  • Archives
  • About
  • Advertising
  • Legal
  • Help
  • Report a Bug
  • FAQ
Original material is licensed under a Creative Commons License permitting non-commercial sharing with attribution.