Steve L
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They will simply reorganize it will be no different than the Air Lines most of what is said about the difference in the industries is pure,- That which comes out of the back of a bull |
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tysonrf2000
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What remains of our economy will bend over and kiss its butt goodbye.
What people have to realize is the ripple effect in the economy of the automakers collapsing. Besides the workers at the factories, here's a small list of these likely to be impacted:
1. Manufacturer's of auto parts.
2. Auto dealerships.
3. Suppliers of goods and services to the auto industry other than in #1 above (maintenance, paper goods, food, etc.)
4. Those that supply auto loans.
5. Those that invested in the auto industry (think just about every 401(k) in the country.
That's just a start and a tiny list. All of those people out of work (tens to hundreds of thousands) will stop buying goods, leading to a further economic decline, starting a nasty cycle of job losses and further economic decline. |
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brave new world
 |
Good question - they could shut their doors of course and nobody wants that.
But far more likely is that they would be bought by international consortions and run by outside management who would not be so greedy and stupid as our own CEOs and executives have been. |
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david m
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I am an IUE employee and agree that the UAW is playing with fire. |
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OWNEDtoDEATH
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Bunch of ppl with lose their jobs and more ppl will be poor and or homeless....pretty crappy stuff.... |
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Estrato Seis
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They would probably NOT declare a chapter 7 liquidation but more likely a Chapter 11 reorganization. IF they did that, I think declaring BK would, eventually, be a good thing for them. They would have to lose that stupid jobs bank that lets people sit on their butts for up to two years (used to be for life) and collect their check while watching video games. They would lose the UAW and get huge wage concessions. They could ditch stupid brands like SAAB, Pontiac and Hummer. They could emerge leaner,meaner and much more competitive on the world stage. As opposed to staying fat and over burdened with the UAW. |
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Matt c
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I don't foresee this happening , worst case senerio the Japanese buy them out and stream line operations...the big problem with the big 3 is they are paying out more in pensions to retired employees then they do thire current work force...solution, do away with the pensions for new employees and make them use a 401k |
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ZoSo
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i think probably japan or korean companies will step in to buy some of the big three if not all. |
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chuckles951
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Instead of having a recession for another year, we will have a 3-5 year depression with 15% unemployment. |
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