Talk about historic if this goes through.
Read somewhere that for 1 person that loses their job on the “line”, you lose about 4 else where in the auto industry. (Parts producers, etc.)
What I don’t get is how an “in trouble” company can do any sort of acquisition of another company…
And it only really says that 10’s of thousands of CHRYSLER employees would be laid off, but nothing about GM’s people.
Well they know the government will step in and either back all their loans, give them a ton of cash, or both.
It’s incredible that the big 3 are not bankrupt all ready. Shrinking market share,nose diving share prices,along with poor bond ratings-it’s as if the perfect storm has gathered against the auto industry.
Of course $4 gas came out the worst possible time and the credit crunch. Maybe with electrics,hybrids and hydrogen-Detroit can be reinvented.