Big 3 says, "Show Me the $$!" Do Americans Approve?

Press and News

This appeared last week on the U.S. News & World Report Rankings & Reviews Web site:

When it comes to collective opinion, the auto industry hasn’t gotten much of a break lately. But according to new data from CNN’s Opinion Research Corporation, that may be changing — at least for now. The Detroit News says that a poll of 1,013 adults “showed that 63% supported the loans to the two automakers [General Motors and Chrysler]. But if they need more money, forget it. Some 70% of Americans say the companies should be allowed to go into bankruptcy, rather than get more federal help.”

According to Bloomberg, Americans were singing a slightly different — though even more overwhelmingly negative — tune in early December. A similar CNN poll showed “61% of those surveyed said there should be no such government aid” to begin with.

These negative attitudes stem largely from the fact that most Americans just don’t trust the automotive manufacturers, says CNN: “Only 28 percent say the auto companies involved in the current program will be able to pay all or most of the $13 billion back; one in five say they will not be able to pay any of it back to the government. This perceived lack of ability to pay taxpayers back may be one reason why the poll indicates auto executives are not very popular with Americans. Eighty-two percent of those questioned have a negative view of auto executives.”

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