Why save the automakers?
What's the point of saving the automakers? I know that people have lost their jobs and yadda yadda yadda, but didn't we already go through this?
It seems to me that we already 'saved' Chrysler a few decades ago. Haven't automakers been disappearing forever? Where's AMC? Where's Packer? Where's Studabaker? (Obviously, those are rhetorical questions.)
At the same time, haven't automakers been appearing for decades? We've got Nissan, Honda, Kia, Hyundai. It looks as though the Chinese and the Indians are going to start shipping vehicles to North America, and let's not forget Fiat with Chrysler! So we lose GM. So what?
So really, why save the automakers?
- Anonymous1 decade agoFavorite Answer
Who will pay the pensions of all current and past GM workers if the company is no longer? The governments of the U.S and Canada would. If you think the current economic crises is big, just imagine what would happen if GM went out of business. Not only would they stop building cars, you would have various manufacturing jobs and companies gone, other industries such as oil companies would be hit, etc. You're talking about hundreds of thousands of jobs lost. That is why they have been bailed out. North America can't afford to have it any other way.
- 1 decade ago
In my book, we wouldn't. Nor would we bail out the banks, the mortgage insurers, or the airlines. If we are going to continually spout off about the "free market economy" being the best in in the world, then we should actually let if be a free market and let those who couldn't hack it deal with the consequences of their own actions.
If it should be a free market is an entirely different question.
You don't see the average citizen getting bailed out when things get tough for them.
- ?Lv 71 decade ago
I would let the ones that have continued to fail fade away. GM is a exception because they hold military contracts with the US.
- Anonymous1 decade ago
People say that GMC is an Institution and should be saved.
I DISAGREE. We gave GMC billions to save autoworkers jobs and they are still laying off thousands of workers. THEY LIED TO US. It was never about jobs; it was always about the money. LET GMC DIE.