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motown express commented about Auto Industry Bankruptcy Play, On Friday December 19th, 2008 11:45:00 PM
The US auto industry will not go bankrupt. They were declaring record profits as recently as 5 years ago. They made a big mistake by betting the farm on large trucks and SUV's right before energy prices spiked. But fundamentally they produce a quality product. Its more a question of proper design. They need wage cuts (for workers and management), pension and bondholder renegotiations, and a new focus on smaller high-efficiency vehicles. They were almost shuddered during the great depression, but survived that and came roaring back. They will do it again.
Comment About Auto Industry Bankruptcy Play
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