American Autos Worth Saving And Writing Off

As far as I am concerned, even if the Big 2 get rid of SUVs', trucks, hummers' & other inefficient cars & trucks, it would not be enough to give them a bailout. The Big 2 need to do the following to get a bailout:

1. Sell ALL their corporate jets.

2. Withdraw their 6 lawsuits immediately against the EPA & 16 states that want them to manufacture fuel efficient energy efficient cars.

3. Fire all the current executives starting with the CEOs' WITHOUT executive compensation packages.

4. If any future executives resign or are fired, NO executive compensation packages.

5. The hybrid, natural gas & electric cars the Big 2 said would be manufactured & ready for the American consumer must be shipped to all the auto dealers to sell within 1 year from the date the contract with the Federal Government & the American people is signed.

6. Executives must not receive signing bonuses for any executive positions. Executive salaries must be tied to performance. If the company loses money, the executives' salary must be reduced by the same amount the company lost. If performance is still unsatisfactory, the executives must be fired WITHOUT any executive compensation package.

7. The Big 2 must open their Accounting books to Congress & the American people-the books with the REAL numbers not the "good books" with the phony numbers.

8. All the above must be a signed contract.

9. The bailout money must be given to the Big 3 in installments based on their completion of the above 7 criteria. If any of the 7 criteria are not meant & completed, the bailout money will be reduced.

10. If the Big 2 are not willing to abide by the above, let them go bankrupt.

11. Chrysler must not be bailed out. Since it's owned by a private equity firm, let the private equity firm bail Chrysler out. If the private equity firm doesn't, let Chrysler file Chapter 7. No one wants Chrysler anyway. Dailmer purchased it & had to sell this money losing albatross. Nobody wants to purchase their cars & trucks anyway.

The American taxpayers need guarantees that the bailout money will be paid back. The American taxpayers need iron clad strings attached to any bailout.