[tones2SS]

Originally Posted by rwhite692

My opinion, If the automakers do go down, there will be no debate as to whether or not we will go into a full-on economic depression as opposed to a "bad recession" or just having a "lousy economy".



Not only that, but the knowledge loss to the country will be tremendous if that industry is gone, and that is a very hard thing to put a price tag on.

People in this country are, by and large, completely ignorant of the massive consequences that are at stake here. They are completely numb from hearing about all the wall street issues these last few months, and feel this is just “more of the same” stuff.



On top of that, the media has spent decades conditioning people to believe that the American auto industry just doesn't produce anything that is any good at all, when we all know that some of what they produce is best-in-class, and best in the world in many cases.


Rich you are right, the employee situation is a complete mess. My hope is that any money they get, will come with some real enforceable stipulations on how they must use it (hopefully to reduce their pension and healthcare obligations for retirees and get that monkey off their backs…complete restructuring, union re-negotiations, etc, etc). Part of the problem, for GM in particular, is bad mortgage debt via GMAC financing (Ditech) So they should be directed to get out of that business...

I never would have had a manufacturing plant to go to work in back in NY as a college kid and get my career started, if it wasn’t for these three guys who were our main customers. I also spent many years in the defense industry and saw the auto makers technology contributions there firsthand. It is not an exaggeration to say that it is a real national security issue if they were to disappear.


Anyway...enough ranting...Even though they have HUGE management problems, I still called my congressman in support of help in the form of LOANS for the US auto industry.

GOOD CALL!!!
Very well said.