| Re: GM - time to let them go bankrupt. |
Subject: Re: GM - time to let them go bankrupt. by DaleD on 2009/1/21 19:27:30 Quote:
The answer is two fold, pain and politics. Pain - when GM goes bankrupt, many suppliers will be hurt. There will be transition problems which will lead to a huge spike in unemployment. This will all be temporary, but if you lose your job in the transition, that's small consolation. Our economy won't handle the transition well. But, the pain is necessary, to move forward. Politics - the UAW and Democrats are closely aligned. The UAW was a heavy contributor to Obama's election effort. The Democratically controlled government will want to keep GM as they are currently configured in order to benefit the UAW. By the way, gas mileage isn't everything. I sold a Bonneville and bought a Camry. Same gas mileage. The difference is, the Camry hasn't broken down on me. The Pontiac was capable of breaking in my driveway. |
