By Alan Burke
Staff writer
November 15, 2008 05:40 am It is a question many families have faced. Is it worth pouring more money into that old rusting vehicle? Congress is dealing with the same question this week, only the vehicle at the end of the tow hitch is the entire American motor industry. The wolf is at the door, and Detroit is calling for help — an emergency "loan" to the tune of $25 billion. And if members of congress seem torn over what to do, it's an attitude reflected by some of their constituents. A sampling of North Shore residents got conflicting suggestions. Remarkably, the conflicts often involved the same person debating within over what should be done. Observers can't seem to decide if the car companies, General Motors, Ford and Chrysler, should be left to their fate in a free market — or if too many jobs are at stake to simply abandon these century-old symbols of American industrial might. "I think (loaning the money to the car companies) will help people with their jobs. But it's just not a good market for people to be buying a vehicle in. If we bail them out, are people going to buy their cars? ... I have mixed feelings." Bianca Bishop of Danvers "They've gotten themselves into this mess. They never bailed us out. If this economy is supposed to correct itself, let them correct themselves. ... It's possible there is a ripple effect. ... If it is to support (auto company) pensioners ... I'm going to flip a bit." Joe Robair of Danvers "Having the taxpayers foot the bill doesn't seem fair. ... But I hate to see people lose their jobs. If the taxpayers get their money back it might be all right. I'm just worried about the precedent. ... Businesses are saying, 'Oh, if worse comes to worse, we'll get the government to bail us out.'" Peter Diamantides at Duffy Insurance in Peabody "If you do that, somewhere down the road somebody else is going to ask for money, too. But if you say 'no,' how many people are going to lose their jobs? ... We have to discuss it. ... I would say, 'I'll give it to you. But you have to give something back.'" Vando Ribeiro of Beverly "You would need somebody to go in and investigate all aspects of their financials. ... I wouldn't invest in General Motors or Ford. ... I definitely would not suggest that the government invest in G.M. Unless they could deal with the unions. ... But I hope for the best. With a little better management it might work." Barbara Maitland at Edward Jones investment company in Swampscott
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