retiree

GM Could Benefit from Bankruptcy

million lost jobs at auto companies, suppliers, dealers, advertising, research, engineering and retail businesses.
Thousands of small and medium sized businesses at risk.
Hundreds of billions in lost tax revenues for schools, public safety, sanitation and other vital services.
Health care and pensions in jeopardy for more than 1 million retirees.
Billions in health care and pension costs passed on to taxpayers if Congress does not act and Chrysler, Ford or GM are unable to pay.
Auto industry = 4 percent of U.S. GDP, 10 percent of U.S. industrial production by value. One in 10 U.S. jobs is linked to the auto industry.
The current recession could become a depression if one or more major automakers is allowed to fail.