Friday, December 12, 2008

No Auto Bailout? Could This Be The End of GM & Chrysler?

First reports out this morning are showing the bailout deal might come to a screeching halt. It appears the compromising points are of course salaries and Union benefit cuts. This is huge, if they can't survive the next month, then it looks like there could be a major collapse. Some in the industry have said they were looking at all options such as bankruptcy, but will filing for bankruptcy help those millions of automakers stay employed? I think not. This situation is bad, if you think it doesn't affect you-you're wrong. What happens in this deal, will be the ripple effect for sure, if hasn't already hit you. Unemployment is through the roof, now comes the global impact. I sure hope Obama can handle this monstrous mess. The good news, inauguration day is right around the corner. The last thing is, or question..."How and Why wasn't this revealed last December?" This type of problem doesn't happen over night. Bush better go back to Texas and hide. He is going down as the worst President ever. Sorry supporters. The proof is in the pudding.

1 comment:

Anonymous said...

If one of the Big 3 went out of business, there would be enough domestic auto market remaining so that the other two would have a few years to figure out how to produce products that could compete with Honda, Toyota, Kia, and Hyundai.