This is not complicated -- try to think about it. On average a car sold by the big three supports more American jobs than a car sold by other manufacturers. Therefore, if GM and Chrysler go out of business, the economy loses jobs. Just math and common sense.
For the third time now, can you name these 'foreign brands' that have you concerned?
What jobs are lost in one area will be gained in another. There would only be a slump in the auto industry if people stopped buying cars.
It was bad decisions and contracts, coupled with the Great Recession.
Yes, bad decisions and bad union contracts. Let's not eras the union pa
rt.
GM was already restructuring and probably would have pulled through if the economy hadn't tanked when it did.
Then why did BHO fire Wagoner when BHO had no business experience whatsoever? BHO wants the patience of the American peole for an economic recovery that he did not offer to the President of GM. Isn't that true? Applying Obama's own rules, he should be fired at the nd of his term.
Chrysler probably would have merged with Fiat either way, though on more favorable terms.
It seems that since BHO left Chicago for DC and became an expert in Detroit, everyone has become a professional in the auto industry. But I guess if BHO can catch on in weeks just whats wrong in an international corporation then anyone can. We're all geniuses now.
It's a frequent charge by conservatives that Wagoner shouldn't have been fired, notwithstanding the fact that the company performed miserably under his stewardship. Of course Obama has never had a role in running the company. That task was given to two very competent CEOs with vast experience turning around large corporations.
Well I never mentioned Wagoner so am not part of the y'all. Who were these two very competent experts hired by Obama?