Originally Posted by Cancer_Researcher
I say let them fail. I wouldn't loose a minute of sleep if I never saw a GM, ford, or Chrysler again. As far as the workers are concerned, I am sure Toyota, Nissan, Honda will be more than happy to fill in the gap and take over these plants and build REAL cars and employ the unemployed from the big 3.I know this post is childish
GM is the 9th largest corporation in the world. Why would the Japanese makers purchase their assets when there are a glut of automobiles on the market right now? Automobiles are an extremely elastic product and the economy isn't picking up anytime soon.
People think the American automotive industry has evaporated, but it's just not true. GM employs 140,000 people, guarantees health care for many more. Then factor in the jobs of parts suppliers and the jobs created by the GM employees and parts suppliers (people need their wal marts, executives need their lawns manicured). If GM goes under we're looking at a massive loss of jobs. Of course, wild ballpark, but 400,000... half million? The effects of that loss of jobs will then reverberate across the economy as a whole. People talk about unemployment of 10%, what about the hit that GDP's going to take? Not to mention that Detroit will basically disappear.
I'm not saying that the government should pour money endlessly into GM. Bunkie Knudson has definitely been proven wrong. What's good for GM is no longer necessarily good for America. Maybe GM should be allowed to fail, I'm just not knowledgeable to say. However, the implications of GM failing are huge.
As for never seeing another GM, Ford or Chrysler again... Chevy Volt son! I've got about $35k stashed away waiting for 2011.
Originally Posted by slybydesignw210
For instance, Give John a special tax credit for buying American. He buys a new GM for $5,000 below MSRP, but will also receive up to an additional $5,000 in tax breaks when he files pending income and debt.
I was talking with a buddy of mine earlier and this idea actually came up. It's a good idea, unfortunately we both came to the conclusion that WTO would probably throw a fit.