A number of Republican "talking heads" today have been urging that the Detroit automakers go into Chapter 11, arguing that Circuit City has gone Chapter 11 and is still doing business, and isn't going down the tubes. So they argue, Ford-GM-Chrysler can go Chapter 11 and not collapse completely, can continue to sell cars - just as Circuity City continues to have its doors open and is selling tv's.

Will someone in the MSM please point out that Circuit City DOES NOT MAKE A SINGLE PRODUCT, but is only a retailer of products made by others.

If Sony, or Sanyo, or Samsung, or Dell, or HP went into Chapter ll, would anyone buy their products, at Circuit City or anywhere else? If the manufacturer goes into Chapter 11, will the warranty be worth the paper it's printed on?

That's the fair comparison: manufacturer of autos v. manufacturer of electronics.

A GM, Ford or Chrysler DEALER can go into Chapter 11 without any more ill-effect that Circuit City, but the manufacturer of the autos a dealer sells cannot.

Dear Lester,

I read that the broadcast will feature a story on veterans with traumatic brain injury (TBI).  I will watch with interest, since, as I have said here before , my mother suffers from that condition.  (Her injury stems from a car accident.)  I truly hope that our veterans continue to get the help they need for both their physical and mental health, even as the wars in Iraq and Afghanistan fade from the front pages.  I am very interested to see whom President-Elect Obama appoints as head of Veterans' Affairs.

I was sorry to read that Don Teague, John Larson, and Mark Mullen will all be leaving the network.  They have each contributed some terrific work over the years.  As a viewer, I will certainly miss them.  I wish them well.

Good night, and lots of love to the regular posters:  Lisa, Jackie, Stephanie, Celine, Claudia, Anna, and Matt.  XOXO  Happy 77th birthday, Mama Lou.  

Good Evening Mr.Holt, Nice to see you this evening filling in for Mr.Williams. You always do a fine job. Now on to thec broadcast. First of all the "In Depth' report by Mr.Bazell about the continuing fight of Veterans to battle brain trauma showed how much of a struggle these soldiers are going through each day after they are back in the States. Two of them are optimistic and hearing one state it does get easier is encouraging. It is such a young population to be suffering these stresses of war and I hope the Veteran's Hospitals help these soldiers receive the best care possible. I was so very sad to learn one of them passed away because it is so very sad for the family. I hope these conflicts come to a peaceful resolution soon.
On another note the report by Mr.Sanders concerning the Smart Car was interesting and it is a cute car. Yet, the small size does lend itself to drawbacks as compared to midsize and larger vehicles. There isn't much space inside and except for a driver and passenger. Time will tell how many will sell in the future.
It was nice to see the National Christmas Tree being lighted. Very pretty!
The interview that Mr.Yang conducted with President Bush and First Lady Laura Bush showed a couple who loves spending time together and appears to be looking forward to life after the White House. I wonder if President Bush will cook some burgers at the barbeque with Barney at his side. It sounds likely!
Thank you for the broadcast Mr.Holt. Peace to You and to ALL!

Lots of Love to Laurel,Jackie,Stephanie,Claudia,Celine,Anna and Matt!
Be Well Always!
Celine-My post last night hasn't shown up yet, but I did see Richard on Rachel Maddow's show when it aired. He was enjoying the map and the graphics alot! And I knew he wrote with his left hand from seeing him write on the news and of course when he signed my copy of his book. Great viewing!
Stay Safe and Well Richard! Enjoyed all your appearances on Morning Joe and Rachel Maddow!
XOXO

I love clothes and I can't wait to see
the Inaugural gown Mrs. Obama chooses, and
I hope it is an American designer.  She
is compared to Jackie Kennedy, who in my
opinion, is one of most fascinating women
I admired; her and Princes Diana.

I appreciated the story on the soldiers
from Fort Campbell, Kentucky and it is
certainly a tough decision for them to make:
enlist or try to find a job in today's
climate.

A friend of mine said the president and
Mrs. Bush look like they were made for
each other and it certainly seem so to
me this evening, obviously very happy
together.  It will be exciting for her
to move into a new home in Dallas when her
husband leaves office..  More power to her.

I am glad you are filling in for Brian
Williams while he takes time off which
he deserves.  Enough of Dick Gregory:o)

The Christmas tree is beautiful and now
I have the Christmas Spirit.

Lester - the NBC stories on the auto company loans (ne: Bailout) all oversimplify the issue by asking leading questions about labor costs (lets blame the unions, again) and healthcare costs -- the problem is that the US auto company leaders in Detroit have supported bad plans (SUV's, etc), designed less reliable (getting better but still not great) cars, less stylish cars, all of which lead to major revenue shortfalls (and ultimately bankruptcy!)....Congress needs to demand quality, stylish, very high mileage green cars and fund that (give them the money) and not make all the union workers who did what they were told to do BY THE RICK WAGGONER'S of the world lose their jobs (by the way, Rick has a nice golden parachute)...Please ask Congressmen and Senators what they KNOW about bankruptcy, how slow it is, how huge the impact on the economy will be, and what THEY propose that will maintain our economy. The dumbing -down of this major issue tells me Congress is incompetent and does NOT understand this issue, and the news organizations are NOT helping enlighten anyone.
PLEASE ask good business questions and help enlighten trhe discussion and hopefully a better decision.

I find it very convenient that Brian took the night off on a day when 3% of the work force at NBC U was laid off. Perhaps Brian should have cut some of his 10 million dollar a year salary so that Don, Mark, and John could stay on. Don Teague did great work in Texas over the years and Mark lead a bureau in Beijing when NBC needed someone there...remember Brian we are not just fans of yours, we are fans of correspondents to and without them you would not have a newscast.

Let's see. 500 people at NBCU just lost their jobs in an effort by NBC to save millions of dollars a year. The people at NBC feel they need to yap and natter about the CEO's of the Big 3, yet these same on air personalities at NBC/MSNBC/CNBC do nothing at all to help their own. How about all of the high income earners in the GE/NBC family band together and take pay cuts in order to save the 500 jobs. This would fit in with the Obama share the wealth idea and save hundreds of jobs. How many millions do these on air types really need anyway. And then there are the salaries of the GE/NBC/MSNBC/CNBC execs. 500 jobs have been lost, but how many of them are taking an annual salary to match the CEO's of the big 3? That is $1 a year!

The New Plan:

Make the American public the following offer; the U.S. Government will provide the public with 50% of the cost of any new Chrysler, Ford or GM vehicle they purchase.

For example; If you buy a new $30,000.00 Ford, $15,000.00 will be billed directly to the U.S. Government, and $15,000.00 will be owed by the new owner. The $15,000.00 from the U.S. Government will never pass through the hands of the new owner, yet that individual will have the ability to leverage those funds directly.

The U.S. Automakers are requesting 34 Billion Dollars. That is enough money to provide 2,125,000 citizens $16,000.00 each if the average price per vehicle purchased is $32,000.00.

The deal will be provided on a first come first serve basis. Americans will rush to dealerships and the only issue the Automakers will have is keeping up with production.

There should be a mandatory 20% down payment from the buyer on the remaining balance so that a situation is not created where citizens are getting into vehicles that they cannot afford.

This plan will also revitalize the lending market, making it easier for lenders to finance vehicles at lower price points since only up to 30% (50% from the U.S. Government & 20% down payment from the buyer) of the vehicle will be financed. That means if someone purchases a $20,000.00 car he/she will only have to put down $2,000.00 and finance $8,000.00.

With this scenario every sector is satisfied. The Automakers will have their funds immediately and an enormous advantage over their foreign competitors, the public will have access to new vehicles and businesses will have access to purchasing additional company cars/trucks.

This plan is good for the U.S. Auto industry, good for the business sector, good for the public and good for America.




Best regards,

Tom Krol
President

Acorn Landscaping

It's New Delhi.  Condoleezza Rice was in New Delhi.  On Wednesday, a Nightly News on-screen graphic identified the city as New "Dehli".  No big deal.  It's only the capital of India, with a population of over 10 million people in the greater Delhi/New Delhi metro area.  No need for Nightly News to bother with the correct spelling.

Is NBC going to address the McCaffrey scandal at some point?   The silence is deafening.

I too was sorry to see that Don Teague, John Larson, and Mark Mullen are leaving NBC. Why is NBC paying so much to some that they're having to lose others?

While I truly enjoy the NBC big name broadcasters I have to agree that upper echelon salaries are ridiculously overblown. As are the salaries of sports players, and upper tier executives in most corporations.

Is it greed, or is it a system that rewards the few in charge while under compensating the many equally valuable people supporting them?

Also, concerning the recent often mentioned $70. plus per hour Auto workers wages - that figure is incorrect. It was gotten by dividing the gross numbers for ALL non-wage benefits by the number of workers, and ADDING THAT to the workers ACTUAL hourly wage (which is in the neighborhood of $28.). The mistake is that the gross figures for benefits INCLUDE RETIRED WORKERS' benefit costs.

Obviously the results of that math are inaccurate 'real' wages.

I've got two questions:
Shouldn't the auto makers seek a bailout from the oil giants?  Seeing that the auto makers are partially responsible for helping with this crisis by continuing to produce vehicles with crappy gas mileage?
Wouldn't the 400 billion dollar bailout be better spent on Education & infrastructure where the chances of returns are greater than the gamble it would be for the big three?

Is NBC going to address the conflicts of interest concerning the 25 members of Congress that have stock in the Big Three Automakers?  Especially those, like Senator Dole, who sit on the committees and sub-committees making the decisions about the loan and the value of their stock?
Thanks

I can't believe the big 3 execs wasted all that money driving down with their $10,000 an hour salaries plus overhead when they could have taken private jets for a small fraction of that cost.  

Good Afternoon Mr. Holt,
It disturbs me to write that I have lost confidence in our government and the people who manage the large business institutions within our great nation.  Each day I read more about the failures within the Federal Reserve, Wallstreet, the Detroit Automakers and our own government officials and I wonder if my confidence will ever be restored.  
It disturbs me further when I read about the greed and lack of compassion of investment firms and charity organizations when their CEO's are running away with peoples hard earned money such as Bernard Madoff and Gloria Pace King have recently done.  There's no wonder why I find it difficult to invest my money or give to charities now.  Is this what our great country has turned into, greedy theives at the top who care nothing about other fellow human beings but themselves?  
Lastly, I was deeply saddened today to read that a bail of the Detroit Automakers will occur.  I still don't understand why we the American Taxpayers should have to bailout the mismanagement of these three companies especially when every other business has to take care of these similiar problems on their own.
I am also saddened by the unwillingness of the UAW to commit to decreases in wages to assist the automakers (their employers)in working through their financial difficulties.  Is not better to take a $5 or $10 cut in pay versus their company going into bankruptcy and losing their contract completely?
It sure would be nice if we as a nation could turn things around and do for each other "because we want to" instead of "because we have to"!
Thank you for your time and all the great reporting that you and your colleagues do for us each day.
Respectfully,
Mr. Jeffrey Morse
Unemployed American

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