Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (434896)	11/13/2008 9:05:18 PM
From: i-node	Read Replies (2) \| Respond to of 1574574

This bailout business is out of control. It was a mistake to begin with but it seems to be getting bigger by the day -- which was precisely what I thought might happen -- only a year or two from now. Congress ought to withdraw the funding today.

To: TimF who wrote (434896)	11/14/2008 12:01:43 AM
From: tejek	Read Replies (3) \| Respond to of 1574574

Save the Rust Belt! The author suggests that gov't bailouts don't really work and that bailing out the auto industry is the same as bailing out Eastman Kodak. First, some gov't bailouts don't work and some do. The successes can be brilliant....turning around whole cities. The failures can be painful and costly. Like anything else, how one is prepared, structured and overseen ultimately plays a big role in the bailout's success or failure. Secondly, I am surprised the author compared Eastman Kodak/upstate NY to the auto industry. Its not a very reasonable comparison.. We're talking the difference between a gas station and the Pentagon. Eastman Kodak employed 60k; from what I understand the auto industry and its vendors employes well over a million people. Rochester/upstate NY is one small region of the country. The auto industry covers several states. You pull the plug on that many people and states and this country will be a serious world of hurt. As for Upstate NY, when I was in school, I did a paper on Syracuse.....talking about why its attempts at renewal were failing. One of the things that really hurt in this part of the world was the region's fiscal tightness. That's right....its not something you would want to read but I concluded that Syracuse people were cheap.....and it showed. Very few buildings were interesting architecturally. There were some nice parks but nothing unusual.....no Arboretums, special museums...things I was accustomed to in MPLS. In fact, the city provided the barest of services. The first time I went downtown I realized the sidewalks were made of asphalt, not concrete. I had never been in a city before or after that had asphalt sidewalks. When I checked out why that was......it turns out asphalt is cheaper than concrete. I know that must sound like a small point but as a student of cities, I find when people like where they live, it usually shows. Rochester had more going on but in general the cities in upstate tended to be conservative, not very visionary, and were saddled with bad, snowy winters and a poor industry mix. It didn't help that at the time, NY state was considered very business unfriendly. While there may be similarities in what ails the auto industry and what ails Upstate NY, I suspect the differences are considerable. But the ulimate point I want to make is I don't know whether a gov't bailout will help the auto industry. What I am trying to do is keep an open mind and listen to what's being proposed. Meanwhile people like yourself already have started the campaign to keep it from happening. You all want to impose the same kind of tough love we imposed on Lehman Bros.......and see where that got us. I know one thing......I am not so ready to join your crusade without knowing what the downside will be for the country.