Quote:
Originally Posted by Hylton
Are you kidding me? Do you not realize the impact to the economy if GM files Chapter 11? Let me ask you a few questions -
Do you think the companies (a few of them) that make frames for GM's pick-up trucks and SUV's are going to continue to supply those parts when there is no gaurantee they will be paid?
Do you think the average American who is worried about his home and family is going to buy a new car from a company that is bankrupt which means they can legally refuse to pay for any warranty work? Truth is they would go somewhere else and then how many GM plants would still be building cars?
I wish I knew how many direct suppliers GM had to make you understand that a bankrupt GM means many bankrupt companies. Some of these companies can only survive if GM survives. Others, like Magna and American Axle for example, would face such a huge loss in business that it may effect the ability for those companies to supply Ford and Chrysler even though it's only GM going under.
Yes the union should be willing to make concessions without GM having to go under because surely they must see how many jobs are in jeopardy. They should also understand that Chapter 11 means a death sentence to their jobs and their wages.
Speaking of jobs, it is estimated that the ripple effect of GM going Chapter 11 is 3 million lost jobs in the United States. We all have to be very careful in what we wish for......some serious shit is about to be launched on all of us if GM goes Chapter 11.
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Then your alternative is socialism. Because the news media has yet to report how the influx of capital to GM is going to turn around the company to profitability for the 21st century.
Let them fall. Break the UAW, reorganize, pay market wages and benifits and build a profitable company.
Big bloated bad companies should fail, it will get tough, but the free market will adjust.
The government should not be bailing out businesses, should not be protecting business. They should get the hell out of business's way, quit taxing them like cash cow, and watch the prospect of risk and profitability take American companies past all foreign competitors.