Quote:
Originally Posted by jyl
Without govt support, GM (and Chrysler) would be in liquidation by now. Not re-organizing, but completely going out of business. Many of the US parts suppliers would also be liquidating. Fairly good chance that F would not survive the BK of its major suppliers.
So, yes Jeff, there would be no UAW, because there would be no US auto industry.
I think the govt is trying to make the best of a situation in which all the alternatives are unpleasant.
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Got some evidence to back this claim?
Milt, many companies survive Ch 11 and come back leaner and meaner and more competitive. Whould GM/Chrysler? Probably at least one of them would survive...but i do not profess to have a crystal ball.