bankruptcy cnn
If the big 3 Auto Companies would file for bankruptcy would you buy from them?
I believe that if they get the bail out consumers would be so angry that they wouldn’t buy from them.
I would go along with the Government loaning the money, but still think that for us the tax payers bankruptcy would be the best way to go.
http://money.cnn.com/2008/11/18/news/economy/auto_hearings/index.htm?postversion=2008111819
I don’t buy new auto’s of any brand. It is not a good investment to buy something that depreciates that much in just a few years, so we buy used, at least 2 years old.
I have always bought American made cars though. In the 25 years I have been married, we have bought 3 cars, 1 Ford and 2 Chevy’s, they have been very reliable. My current Chevy is 8 years old and has 200,000 miles on it and runs like a champ with only regularly scheduled maintenance.
Why would people be so angy, companies declare bankruptcy all the time and reorganize and end up with a more efficient business. The loan or bailout would not solve the problem of the UAW. The big 3 can’t compete with non-union companies, so they have to use cheaper parts. GM is successful in foreign countries and has 10% of the Chinese market because overseas they don’t have to use union labor and they can make better cars in those markets.
They were not angry at all the airlines that went bankrupt, people still fly.
