Automotive News from Where Can I Buy A Car Online?::
If you're looking for news about the automotive industry and automotive topics .. which would be a serious blow to parent GM's own chances for survival.
http://www.where-can-i-buy-a-car-online.com/news.htmHOME |
the lame duck economy- by Paul Krugman
Absolutely. . . welcome to the "domino affect."
Yes. Massive job loss.
Yes, it would be. I think they should fire the CEOs....greedy bas*****!
No it wouldn't be. Though there are some parts of the automotive industry that would be hard hit, such as the parts suppliers, overall this would not be a huge blow. Industries dependent upon the auto industry do not rely heavily on just one company. What I mean is, your local automotive repair shop doesn't just service Ford, GM, and Chrysler cars, they do other vehicles as well. Industries that made themselves dependent on one of those three or all three made a bad business choice and likewise they will pay for it when the big three file bankruptcy (hopefully the federal govt. doesn't bail them out). WBNS 10TV : President Bush: Automakers To Get $17.4B - WBNS-10TV ::
Bankruptcy, he said, would deal "an unacceptably painful blow to Bush's plan is designed to keep the auto industry running in the short term,
http://www.onntv.com/live/content/nationalnews/stories/2008/12/19/story_bush_statement.html?sid=102HOME |
Motor industry collapse: Carmageddon for British auto-makers ::
Dec 14, 2008 'The UK economy may be in recession, but the motor industry is in letting the Detroit-based auto industry collapse would be unthinkable.
http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=459473&in_page_id=3HOME |
Yes. It will not only cause job losses which will add to unemployment at a time when the economy can not afford it, but they have lots of long term corporate bonds, which if they default, will trigger another round to problems for financial institutions. Just like for the mortgage debt, auto company debt is insured by a tangle of credit default swaps. No one thought that there would be that much trouble when Lehman went Bankrupt either, and we ended up with frozen credit markets. Too many people ether hate Unions or hate SUV's and both groups are downplaying the effects on the economy
Not exactly. Even if these companies fail, which they should, other compaines will come in to buy these plants. Or, GM and/or chyrsler will sell themselves to foriegn investors such as the chinese.
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