Chrysler executive: Automaker failure could spark depression

AP on Mercury News ^ | 12/3/08 | Julie Hirschfeld Davis - ap

[NormsRevenge]

WASHINGTON — A top executive of Chrysler cautioned today that a carmaker collapse could send the economy spiraling into a depression, as the United Auto Workers union braced for contract concessions.

[NormsRevenge]

Who will bail-out the bailer-outers?

[Perdogg]

Bravo Sierra

[domenad]

This is a blatant fear/extortion tactic. “Hey, if it goes bad for us, it will go bad for everyone. We’ll see to it.” It is possible that the current reorg will break the back of the union grip that is stifling this industry. It is almost certain that bankruptcy will.

[kbennkc]

Keynesian Psychosis .

[DonaldC]

I wonder why bankers were not grilled like the auto makers. They want petty cash compared to what the bankers got.

[Focault's Pendulum]

Bravo Sierra

Concur.

[LibWhacker]

Next up, donut shops.

[Centurion2000]

Chrysler executive: Automaker failure could spark depression

Wrong ... auto-suppliers will just re-tool, take the loss on the taxes and then start supplying the japanese plants in the USA at cheaper rates than the Japanese suppliers.

[DonaldC]

LOL...now that is funny.

[Lokibob]

“Next up, donut shops”

I am hoping ebay store owners.

[Dahoser]

Because the bankers don’t have the UAW working for them. It’s not that they won’t give the automakers our money, it’s that they want to make sure the automakers know they can’t hose the UAW before getting our money.

[count-your-change]

If I don’t get a bail-out the universe may implode so all you posters better pony up the bucks!
You do want to save the universe, don’t you?

[Cecily]

Honda and Toyota will just make more cars, hire more workers, etc. If GM and others go under, better companies will take up the slack.

[Cyclone59]

Honda and Toyota will just make more cars, hire more workers, etc. If GM and others go under, better companies will take up the slack.

Ahhh, there we go, true capitalism.

[Zhang Fei]

I think he’s right - he’s gonna be real depressed when his stock options go to zero.

[LiberConservative]

Are you threatening us?

[50sDad]

Bail us out or we shoot this dog!

[CatoRenasci]

It won't be so neat and clean. Some suppliers will survive, others won't. The human cost is real, even if the various stakeholders - suppliers and their employees, dealers and their employees, UAW workers, management, board shareholders - have all cheerfully gone along for the past 60+ years figuring they could pass the costs on the to consumer who would just BOHICA (bend over, here it comes again).

It still has to happen - bankruptcy for the automakers - but it's nothing to be happy about.

[rednesss]