Could the GM, Ford, and Chrysler really go bankrupt?

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JacksonT

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I would love to see the government not bail them out and let them go bankrupt but I can't imagine the government letting this happen. I feel like no matter what business plan the big 3 show the government they will get all the money they want.

Is there any chance they would let them fail?
 
Actually I would rather give them a loan (which has been done in the past and the government actually made a profit from it) instead of wasting our taxpayer money on the banks that seem to just suck it up without showing any results.

Losing the Big 3 would have a really devastating effect on the economy because there are so many jobs tied into the auto market.

While Bankruptcy won't be the end of the Big 3 it would cripple them long enough to devastate the whole economy.
 
Yes and it would be a great thing too. Then they, like the airlines, could restructure, get rid of the awful UAW contracts, and come out leaner and meaner. GM, Ford, and Chrysler could then spend the money building better quality innovative cars instead of feeding the insatiable appetite of the United Auto Workers, and their infinite pensions and health care.

I don't believe 3 million people will lose their jobs. The Detroit cars won't disappear from the roads overnight. And the drivers of GMs and Fords will still need to replace their cars eventually. Suppliers, mechanics, dealers, parts dealers, drive-ins etc will still be needed whether you drive a GM or a Honda.
 
yes, if gm goes bankrupt, then ford and chrysler will too because they share many of the same suppliers... if this happens more than 3 million people will lose their jobs, this will also be a huge blow the the economy...there will be another depression.


ps : this is happening because people are no longer loyal, and they are buying filthy import cars.
 
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