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Mulally: GM Would Drag Entire Industry Into Bankruptcy

2008 Views 3 Replies 4 Participants Last post by  MaxLegroom
We really believe that if GM goes into bankruptcy, it will take the industry into bankruptcy."

-- We asked Mulally why, given the unique agreement between the Big Three and the United Auto Workers right now, the two sides don't rework their contract to start the big cost-savings benefits in January 2009 instead of waiting for the new contract to kick in in January 2010: "That's always a possibility," Mulally said, opening the door for an unprecedented emergency renegotiation, especially if President Bush does not sign any aid bill passed by Congress.
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Never truer words were spoken.
I agree 100%
I was reading the comments that followed the article, and was, well, disgusted. The number of people who have no clue about what a GM, Ford or Chrysler bankruptcy would mean is breathtaking. That they haven't figured out that this is about bridge loans, a la 1980s Chrysler, and not a bailout, a la AIG makes me begin to question just where all that money in education has been spent in this country.
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