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| The Pit - General Discussion General automotive topics. Since each manufacturer forum has its own section below, use this forum for all those miscellaneous, non-manufacturer-specific topics here. |
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| Me for President   Posts: 18,427 Join Date: Sep 2005 Location: Sweden I drive: Rear Wheel Drive Thanks: 1,371
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  | Re: GM Bankruptcy Fears Rising on Wall Street -
11-22-2005, 10:10 AM
GM to Cut 30,000 Jobs, Close 9 Plants - ONLY REGISTERED AND ACTIVATED USERS CAN SEE ALL LINKS - CLICK HERE TO REGISTER |
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| GCZ's High Court  Posts: 16,122 Join Date: Sep 2005 I drive: BMW E60 535d, Carbon Black, M Package Thanks: 6,309
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| Re: GM Bankruptcy Fears Rising on Wall Street -
11-22-2005, 10:18 AM
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| Fanatic   Posts: 2,143 Join Date: Oct 2005 Location: Australia Thanks: 431
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 | Re: GM Bankruptcy Fears Rising on Wall Street -
11-22-2005, 06:11 PM
This is a BIG deal for the entire automotive industry. Delphi, which is a spin off from GM is already operating under chapter 11 Bankrupcy. Delphi is a HUGE parts supplier and supplies many componenents to even the germans. If GM were to allow Delphi to collapse completely, there are going to be production problems all over the world, and not just in GM factories. I dont see any joy in that Yannis, let alone the thousands upon thousands of people who will lose their jobs (Way beyond what would be lost through restructuring and costs cutting), retirment benefits and health plans.  |
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