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Originally Posted by Perfectlap
I don't think any of the three auto makers will close shop. Ford will make it, Chrysler (I have an inside track on that one) will be acquired and no President will ever allow GM to fail under his watch, certainly not a pro-Labor Dem. But the chapter 11 route is almost 99.9% certain, they're pretty far into their plans for that. They're just trying to figure out how to ****************-can the least amount of people but the layoffs will be huge.
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The fallout is going to be the real problem. When GM and/or Chrysler files the auto suppliers that are hanging on by a thread as it is are told that they aren't going to get paid what they are owed currently, it will be lights out. Not to mention that typically they would have to send back the last 60 or 90 days worth of receivables collected (may be waived or not possible). Regardless, many aren't going to make it.
They will drag Ford down with them. If Ford can't get parts because the suppliers shut down they can't make cars. Being in better financial position today is no guarantee of survival. They are simply the nicest looking rat in the dumpster.
It has been said time and again that the only thing worth anything out of Chrysler is Jeep. Even if they are acquired I wouldn't anticipate that they will be making anywhere near the number of models that they currently have.
Detroit is going to become a ghost town. Then we can ask Gettlefinger if in retrospect he would have done anything differently.