About the Author

Richard Cochrane is trained in chemistry and metallurgy but is far more interested and practiced as a political and fund raising consultant, writer and amateur historian. He grew up in a Navy family and with his two younger brothers carried on its 500+ year tradition of naval service to Great Britain and the USA then enjoyed a career with one of the largest advertising and public relations agencies working with numerous Fortune 500 companies and many of America's premier educational institutions. He maintains friendships and acquaintanceships around the world. He lives in Santa Barbara, California.

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42% Say Treasury Sec Paulson Doing Bad Job as Big-3 Arrive For Round Two Bailout Talks

December 2nd, 2008 • Richard Cochrane
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As John Edwards would say, "I see two car industries in America, one that works and one that doesn't"Most Americans do not favor a bail out-loan package for GM, Ford or Chrysler as the so-called Big-3 auto makers top executives cames to Washington DC today absent their private jets for round two of their "beg-a-thon" to asked taxpayers for billions to help them stay in business.

As they arrived November sales figures were posted showing a 26% sales drop from last year for the trio. The 12 foreign owned auto makers with U. S. factories have not released their numbers but while they are expected to be down too not as much as domestic owned companies.

Foreign owned automakers with U. S. plants make and sell 54% of all cars bought by Americans while the Big 3 have fallen to just 46%.of cars bought by Americans.

In related news only 12% of U.S. voters say Treasury Secretary Henry "Hank" Paulson has done a good or excellent job handling the country's credit crisis and the bailout programs aimed at helping the economy. Forty-two percent (42%) rate Paulson's performance as poor, according to a new Rasmussen Reports national telephone survey. Eight percent (8%) are undecided.

How much the miserable perceptions of Paulson is affecting views of the Big 3 bailout-loan request is unknown. But, it can not be a help. Much of the criticism of Paulson is the continued failure of credit to loosen up after $350 billion has been poured into financial institutions. That money as touted as the best way to trigger leading but it has not done that.

UAW Talking Separately About What It Can / Should / Will Do To Keep Big 3 Alive.



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