Caught this one on line too, each time I read something there are more folks involved:
Consumers to suffer if GM goes under - Nov. 19, 2008
Hey let's not forget decreased car sales may also equal decreased travel, which is already happening now without any of the big 2.5 going into bankruptcy or simply closing their doors. That decreased travel would also translate into less fuel taxes which feed the highway maint funds....so the Interstates would also continue to deteriorate further with more projects pushed even further out, putting travelers at further risks.
Gene again posted about what the ancillary costs would be to the taxing public should even one domestic automaker file or close. One thing that has also been pointed out and has not been discussed is the fact that the federal government is in essence broke and in a major deficit. Any addition demand on funding, like double digit unemployment, pension obligations, medicare/medicaid will significantly increase our deficit spending, which we will pay interest on to the likes of the Chinese, which will in fact cost us significantly more than 100 billion when it's all said and done. Even if loaning the money doesn't work, we're not that much worse off for trying. Also, of the 25 billion being asked for, this is not on top of the 700 billion our politicans already authorized. The big 2.5 are only asking for part of the massive cash infusions already on the books. If you feel as I did originally that the 700 billion bailout package was a bad idea, next voting season, it may be time to vote all the current regime out of office.
Oh and Roger (85MH325), you and I would both be remiss if we didn't also point out that your Big Foot SOB is on a monster Ford chassis.
Keeping this RV and Airstream related to a certain extent......
Anyone know how many MoHos are on foreign chassis? Clearly the chassis that on on any of the big 2.5s will have issues with parts and such, but I also wonder if some of the real luxo MoHo with the Freightliner chassis, etc will also take a hit. This could also significantly further add insult to injury to the RV sector. This could also mean that Thor, who builds busses too and has good cash resevers with little to no debt could also be in a pickle should chassis manufacs (big 2.5 freightliner, etc) have issues getting parts as has been suggested in the linked articles. This in turn could impact Airstream and other divisions of Thor. Winnebego, Fleetwood, who are in worse shape, I shudder of what could happen to them and other major MoHo builders, thus adding to the deficits through unemployment, pensions, etc the feds (meaning you and me) would have to pickup.