Old Project Avalon Forum (ARCHIVE) - View Single Post - what happens if we dont bail out auto makers

1fixitman · 12-09-2008, 07:59 PM

The suppliers for the three auto makers can only stay afloat if all three of them(auto builders) survive. If any of the three go under then the suppliers can not stay in business to supply the other two. One will fold, then the suppliers will follow suit then the other two will fold. There are about 3 million people between the suppliers and the Auto builders that will be out of work when or if it unfolds. Something you have to understand about GM is that it is not just the Union that is bringing them down....GM owns GMAC Mortgage and DiTech.com. They are leveraged out too far.
Dwayne

12-09-2008, 07:59 PM	#2
1fixitman Avalon Senior Member Join Date: Dec 2008 Posts: 3	Re: what happens if we dont bail out auto makers The suppliers for the three auto makers can only stay afloat if all three of them(auto builders) survive. If any of the three go under then the suppliers can not stay in business to supply the other two. One will fold, then the suppliers will follow suit then the other two will fold. There are about 3 million people between the suppliers and the Auto builders that will be out of work when or if it unfolds. Something you have to understand about GM is that it is not just the Union that is bringing them down....GM owns GMAC Mortgage and DiTech.com. They are leveraged out too far. Dwayne