What jobs are the average Joe's going to flock to after the car industry fails?
Wal Mart? McDonald's? In York PA a screw company filed for Chapter 11 bankruptcy protection, they didn't think the failing auto industry was going to effect them, yet they were wrong. Come to find out one of their top buyers used the screws in parts that would be shipped to an auto assembly line. Emporium PA, GKN Sinter Metals is a leading maker of connecting rods for the US auto industry, mass layoffs are taking place and now people fear their jobs will not be there by the end of January. Not only is this small, but very important addition to the American auto industry is beg affected, but locally owned business is feeling the effect. Businesses that have nothing to do with the auto industry. People can't afford to eat at the locally owned restaurants, or shop at the only grocery store in town. GKN is the leading employer in the area. These are two small examples. The effects of the failing industry is going to effect more than the auto industry. As the hundreds of thousands of jobs depending on direct sales to the auto industry start to fall short, consumer spending as well will fall. Is this concept hard to grasp? Hey Nina. GM has 7000 car lots in America. Toyota has 1500. The reason Toyota is cheaper is because there is less demand. Just wait till these industries fail, and you will see a rise in prices. They are in a competitive market in the US. A place where Americans used to take pride in their auto industry. Once that competition is gone, there are only going to be a few places you can go. So what are you going to do if they raise their prices? There is nothing you can do. It's an economic war, and we're losing. Soon enough all our money will be owned by foreign investments.
Asked By: Lucifer - 12/18/2008
Best Answer - Chosen by Asker
Toyota, Hyundai, Honda, Volkswagen, etc. Only the Big 3 "need " bailouts b/c they are companies with bloated management and union slugs building crappy cars that even Americans don't want to drive. Chapter 11 Bankruptcy is what they should get, not corporate welfare--those gravy sucking pigs!
Answered By: nina c - 12/18/2008
Additional Answers (2)
You are only describing the surface of what is to come. Every business affects others in a domino effect. If the government bails out the auto companies, it will only keep them going for a few months at most, then this will all start again. The hardest thing to do right now, would be to let them file chapter 11... More
Answered By: Scrappy52 - 12/18/2008
I fear that the German and the Jap car manufacturers will be the only real survivors of the crunch I believe - though I do hope I am wrong. I've seen our UK car industry decimated, our motor cycle industry nearly / virtually wiped out. And the larger luxury car market will almost completely die (worldwide) for 2 main... More
Answered By: Jedi Knight 007 - 12/18/2008
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