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A few things; Any of the CEO’s of Ford, Chrysler and GM make more than all of the Japanese auto CEO’s combined. That speaks volumes.
The 3 million jobs lost is a guess by an “independent” company (forget the name). That company’s credibility has been called into question before. Keep in mind if the big 3 file for chapter 11 bankruptcy protection it doesn’t mean the jobs just disappear, factories close and everyone goes home the next day. Congress can enact a bill/law that provides loans, continues warranties and ensures replacement parts.
The question was would you buy a car from a bankrupt company? Most will say no so I believe the 80% figure. Now ask the question of would you buy from a bankrupt car company with federally back warranties, parts suppliers and federal loans as they restructure. Oh and you’ll get a nice discount too and probably a fat discount on your next car in appreciation of your support. I’m thinking that number would be a lot less than 80%.
The problem the big 3 are facing is the American people are still mad about the 700 billion for Wall Street and the 65 billion for AIG. We don’t understand it, we were just told the world is going to end and our 401k’s will be worth nothing (paraphrasing) so it was implemented.
Clock is ticking, if there isn’t action in the next 2-3 weeks the “Bankruptcy is not an option” will be the only option, well there is also chapter 7, liquidation but I really hope that doesn’t come to that.
If you want a Camaro or Challenger best get on the list/buy them now.
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