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Failure Of The Detroit Three Would Mean 1 Million Jobs Lost

images9.jpgLately, everyone has been talking about the trouble that the Detroit Three (Ford, GM and Chrysler) are in. People have even been speculating about the number of jobs that would be lost if these companies go under. Also, it isn’t ridiculous to believe that many other jobs would suffer on top of those related directly to the three companies.

So, as everyone goes around screaming at the nightly newscasts about a bailout over the next few weeks, remember this: About 1 million jobs are created directly by The Detroit Three in the U.S.

Also intertwined with the Detroit Three is a large supplier network. Unfortunately, if just one of the bigger ones, such as Delphi, closes, with about 50,000 employees in the U.S., you go above that 1-million jobs lost mark.

Unfortunately, many American consumers are opting to hang onto their current cars at the moment and purchase used car warranties, instead of buying new vehicles. If this continues, a bailout may be the only way the Detroit Three will survive.

Posted on Saturday, November 15th, 2008 at 1:21 pm In Used Car Warranties  


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