Just 18% of Americans think the United Auto Workers union and the federal government will do a good job running Chrysler and General Motors, according to a new Rasmussen Reports national telephone survey.

Forty-seven percent (47%) believe the union and the government will do a bad job, while 35% are not sure.

Forty-six percent (46%) of adults now say it is at least somewhat likely that Chrysler and General Motors will become profitable again with the UAW and the government in charge. A week ago, before the new ownership arrangements were known, 54% of Americans said it was at least somewhat likely that Chrysler could again achieve profitability.

However, while 46% say profitability for the struggling auto firms is possible, only 14% say that positive outcome is Very Likely.

Seventy percent (70%) continue to oppose any additional bailout funding for GM and Chrysler, while 13% think it’s a good idea. Just two weeks ago, 60% said the bailout loans already given to the auto companies were a bad idea, although the Political Class disagreed.

Through stock ownership, the UAW and the government are expected to have a majority say in management decisions of both companies as the result of deals worked out by President Obama’s auto task force to ensure more federal money to keep them in business. Chrysler is now going through a structured bankruptcy to keep going, and GM is expected to report back with its reorganization plan by the end of this month.

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Most Republicans (66%) and those not affiliated with either major party (52%) expect the union-government ownership team to do a bad job. Democrats are evenly divided on their prospects--30% think the new management will do a good job, 28% a bad job, and 42% are undecided.
Eighty-one percent (81%) of Republicans, 59% of Democrats and 74% of unaffiliateds oppose any additional government bailouts for GM and Chrysler.

However, two-thirds of Democrats (67%) say it is at least somewhat likely that Chrysler and GM will become profitable again under union and government ownership, a view shared by just 34% of Republicans and 33% of unaffiliated adults.

Forty percent (40%) of investors believe profitability is at least somewhat likely, but 52% say it’s not very or not at all likely.

Government workers are more confident that a return to profitability is possible, compared to those who work in the private sector. Similarly, while 54% of those employed by private companies think the government and UAW will do a bad job of running the automakers, only 39% of government employees agree.

A potential problem for Chrysler is that just 25% of Americans say they would buy a car from a bankrupt company.

Eighty-three percent (83%) of all Americans say they have been following recent news stories about GM and Chrysler at least somewhat closely, with 42% following Very Closely. Seventeen percent (17%) are not following the story.

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