Just wondering - How many educated consumers out there do you think will purchase a car from a bankrupt car company? I am guessing not many...
Bankruptcy of any of the "Big 3" would send this economy into a tailspin not seen since the 1930's.
ORIGINAL: RLSH700
This would be the right time for the Big Three to do what they don't want to do, but need to do.
File for bankruptcy and heal.
They execs whine and complain about this option. They complain that it will hurt consumer confidence, yet they made unreliable products for years without a care or effort to what that did to consumer confidence. They complain that it will take a lot of time to get this option to work, well time you have as the economy is not going to be in functional shape for a while, besides this how many years did they have as a warning sign that they were in trouble and yet it has done nothing to inspire them to make the hard decisions. Their plans are unrealistic with the loans, they honestly think that if they just have to wait until May and things will be hunky dory, they are gravely mistaken. The problem goes deeper than the economy and the sooner they get their minds around that the better.
I frankly find that sick as well that the areas like Detroit and often employees drive the foreign competition's models, but the truth of the matter is it is the Big Three's fault for not keeping their customers by building them what they wanted. The Big Three need to learn how to compete and they need to do it without further exporting labor.