Judging by how they voted, that would be a loss how?
Also, most of those suppliers won’t fold; they saw the writing on the walls years ago and now supply the “foreign” transplant auto makers as well as the Moribund Three. IMHO, they’re always inflating the number of jobs that would be lost.
I find it hard to believe that 1.4 million people would be out of a job if a company that Apple Computer could buy out of petty cash and still have money left over folded.
I wish I could recall the number of companies that are involved in the assembled parts for one car. It’s in the low thousands. The unassembled parts number is in the tens of thousands. It was really surprising to me.
I used to live in MI. I don’t doubt it. The economic impact will be enormous—and not just MI.
If GM went bankrupt, they might try to invalidate their suffocating Union contracts. Of course, the UAW would immediately go on strike and kill the host for good.
Unfortunately, a lot of “patriotic” Americans (even here on FR) find glee in the plight of the automakers. Its really a very sad situation. Once that industry is gone, its never coming back (along with a huge part of America’s industrial base).