Quote:
Originally Posted by browna
The CBS news was on last night, the big 3 employ 249K employees....133K GM.
As touched on above, the hundreds of parts suppliers to the big 3 employ about 2.3 million people. Of course, those part suppliers, although doing the majority of the work for the Big 3, also make various parts and supply to each of the car manufactuers in the US. And if those suppliers go under or severely cutback, each and every manufacturer will be affected.
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You are looking at almost 500,000 people(Canada+USA) that will be affected if the big three disappear completely. The thing is...a bailout will only prolong the agony. The best scenario is the file for bankruptcy and then go through (can't think of the word now)...fixing
.... With likely one of the big three (Chrysler?) ending up on the garbage heap of history. 4-5 years of pain with likely a new vibrant auto industry across the great lakes.
Just put it this way....as if there WON'T be an auto industry in the USA....sorry NOT. Too big a market and the big three will leave a huge vacuum. Easily filled....hopefully with something much, much better than we have seen over the past 20-30 years.