Quote:
Originally Posted by Gatorubet
That's why the govt could offer to fund restructuring money if and only if the 11 takes away the union and dealership contractual mess. The US would be pushing them toward bankruptcy, but a lot of painful things are in our future. The complete elimination of the auto industry cannot be one of them.
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See, I was going to mention that in the post but decided not to include it. I think if any 'bailout' money goes to the Big 3 it will be to get them back on their feet with more modernized production along with securing their debts to keep the businesses owed money by the big 3 in business (ie what Bucklion said)
Quote:
Originally Posted by Bucklion
I might agree except that the Big 3 owe a ton of money to a myraid of supplier companies, and if they file for bankruptcy it will probably run all of them out of business as well if they don't collect on any of the money they are owed. This would have a huge chain reaction effect.
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I either read something last week or heard on the TV that the jobs dependent on the Big 3 auto makers is over one million from manufacturing, to dealerships, and the suppliers. (too lazy to hunt for a link though)