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Author	Topic: [Poll: 2008.48]: Should the Governments provide monetary assistance to auto ma...	Post a Reply Back to Topics

JT Moderator	Message Posted: Nov 22, 2008 11:01:00 PM Ignore JT Report Abuse Should the Governments provide monetary assistance to auto manufacturers? Yes, they're a vital part of our economy Yes, there are too many jobs at stake Yes, but as a loan, not a gift No, they caused it, they can deal with it No, for other reasons No Opinion Post your thoughts about this poll below.

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Message Posted: Nov 22, 2008 11:01:00 PM

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Should the Governments provide monetary assistance to auto manufacturers?
Yes, they're a vital part of our economy
Yes, there are too many jobs at stake
Yes, but as a loan, not a gift
No, they caused it, they can deal with it
No, for other reasons
No Opinion

Post your thoughts about this poll below.

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bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 28, 2008 6:34:05 PM Ignore bytebug Report Abuse "DID YOU KNOW LOAN WAS APPROVED?" The make-due-until-obama-is-in-office loan made available by a lame duck President after Congress voted the will of the people and told Detroit to go take a hike. When the money runs out early next year, hopefully the grave will have been dug and we can put this mess behind us.
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 28, 2008 2:52:58 PM Ignore masonco Report Abuse Dead topic. DID YOU KNOW LOAN WAS APPROVED?
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 28, 2008 9:31:47 AM Ignore radarman Report Abuse No. Why reward incompetence?
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 28, 2008 8:32:40 AM Ignore bytebug Report Abuse "I am hard pressed to find one thing today that is manufactured in The United States. Even cars that are assembled here have many of the components imported." Thank the unions.
higginbotham194 All-Star Author Alabama Posts:516 Points:82,025 Joined:Dec 2008	Message Posted: Dec 27, 2008 9:53:19 PM Ignore higginbotham194 Report Abuse No. Absolutely not. Look at what the executives get paid for what?. We still don't have vehicles that are not fuel efficient. Why?. Big oil?.
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 27, 2008 4:23:55 PM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
Don1222 Champion Author Michigan Posts:7,802 Points:1,089,855 Joined:Jul 2008	Message Posted: Dec 27, 2008 6:49:22 AM Ignore Don1222 Report Abuse Silverdog1: We need a balance of trade. With the current 'tilted playing field' there is no way to even come close to balancing the trade between countries. I suspect Canada is having the same problem we are having in The United States. There has to be employment or the manufacturers cannot sell anything. Who is going to buy it. Even people employed hesitate to buy anything not necessary. If our U. S. manufacturers want to manufacture their products in other countries they should sell them there. If they want to sell them in The United States, they should manufacture them here. I am hard pressed to find one thing today that is manufactured in The United States. Even cars that are assembled here have many of the components imported. I suppose somewhere between what I propose and where we are would work out fine. We need a 'level playing field'. As long as Japan and other countries restrict imports and subsidize there manufacturers than we need to do something to protect our companies.
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 27, 2008 3:28:54 AM Ignore radarman Report Abuse No.
Silverdog1 Champion Author British Columbia Posts:14,886 Points:1,658,220 Joined:Jul 2008	Message Posted: Dec 26, 2008 2:56:23 PM Ignore Silverdog1 Report Abuse Your sentiment is good Don1222 but the practicality of it isn't. U.S. manufacturers need a place to sell their goods. The United States has some 300 million people, but many of your manufacturers produce far more of some goods than can be consumed domestically -- like cars and trucks. I don't know about you, but I like sugar in my coffee and if I'm out of sugar, I like being able to have gas in my vehicle (almost all of which is imported from the middle east) so I can go to the supermarket to buy more sugar. Oh, and wouldn't it be some awful boring if EVERYONE in Canada drove only Chev SUV's? Actually, I think Mazda and Toyota build cars in eastern Canada. There are hundreds of other examples of things we need to buy, or at least we're accustomed to buying, that aren't manufactured in our respective countries. That is why the U.S. is Canada's largest trading partner. We can't make everything we need, so we buy it from other countries. You are right though...we need to support our domestic industries. Far too much of our consumable goods come from 3rd world countries because of our demand for inexpensive goods. I got a new jacket for Christmas...it's made in bloody China. I'm pleased to say that at least my new Canadian Flag was made in Canada, well, in Ontario, which is almost in Canada. :)) I'll bet the cloth wasn't woven in Canada though...or the United States.
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 26, 2008 12:36:47 PM Ignore masonco Report Abuse Dead topic
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 26, 2008 10:35:34 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
Don1222 Champion Author Michigan Posts:7,802 Points:1,089,855 Joined:Jul 2008	Message Posted: Dec 26, 2008 9:41:25 AM Ignore Don1222 Report Abuse They need help. They also need restrictions. If they are going to sell it in The United States, it must be manufactured in The United States. I am not only talking about cars. Everything sold in The United States should be manufactured in The United States. Global Economy be dammed. If necessary congress should legislate import tariffs.
dyeh Champion Author Illinois Posts:1,201 Points:315,755 Joined:Apr 2008	Message Posted: Dec 26, 2008 6:57:12 AM Ignore dyeh Report Abuse gasman14: if it's a loan, I'm assuming you expect them to pay it back. They can't even pay interest on their current debt, let alone union pensions and healthcare. And you expect to solve the problem by giving them even MORE debt? GM by itself burns through $2 Billion per day. Assuming GM gets the whole $25 Billion, that's not even a month's worth of expenses. Then what? Ask for more? Let the taxpayers keep paying to keep the workers employed? The last system that used public/government funds to keep 'private' workers employed was called 'communism.' Care to rethink your line of thought?
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 26, 2008 4:36:25 AM Ignore radarman Report Abuse No.
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 25, 2008 6:28:15 PM Ignore radarman Report Abuse No.
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 25, 2008 9:05:49 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 25, 2008 6:54:35 AM Ignore bytebug Report Abuse "It is only good business to pay back loans." It is only good money to make money, too, but the US automakers haven't made money in years. If you aren't making money, how do you pay back a loan?
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 25, 2008 6:22:11 AM Ignore masonco Report Abuse It is only good business to pay back loans. I think they will, Ford did. Even Hyundai reported losses last quarter. I haven't heard about Honda losses yet. Face it, with the auto manufacturers shutting down this will affect everyone with fewer jobs from wall street to restaurants and everything in between. In my area there is one thing that has gone up...crime. Even the local casinos are laying off because of trickle down effect of auto workers being without work.. [Edited by: masonco at 12/25/2008 7:22:54 AM EST]
dyeh Champion Author Illinois Posts:1,201 Points:315,755 Joined:Apr 2008	Message Posted: Dec 25, 2008 12:47:07 AM Ignore dyeh Report Abuse "IT IS A LOAN" Do you really think they're going to be able to pay it back? They can't even pay interest on their own debt. GM itself burns through $2 Billion per day.
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 24, 2008 11:16:32 PM Ignore bytebug Report Abuse "IT IS A LOAN" We're never going to see that money again.
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 24, 2008 3:26:36 PM Ignore masonco Report Abuse GASMAN WHERE HAVE YOU BEEN? IT IS A LOAN NOT A GIFT. IT IS A LOAN IT IS A LOAN
LonghornBubba Champion Author Houston Posts:13,379 Points:2,642,330 Joined:Jul 2005	Message Posted: Dec 24, 2008 10:24:08 AM Ignore LonghornBubba Report Abuse Yes, but as a loan, not a gift
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 24, 2008 8:53:11 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 24, 2008 7:14:23 AM Ignore bytebug Report Abuse American made automobiles will go the way of American made television sets.
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 24, 2008 5:40:53 AM Ignore radarman Report Abuse No.
Silverdog1 Champion Author British Columbia Posts:14,886 Points:1,658,220 Joined:Jul 2008	Message Posted: Dec 23, 2008 9:40:07 PM Ignore Silverdog1 Report Abuse The demise of the Big 3 is absolutely NOT, "a certainty". Are there some changes that are needed? Of course there are. American cars are as well made today as any on the market and are priced as competetively as any. If we spent as much effort buying our own North American made products and thus supporting our own workers and economies, as we do waving our respective National Flags and then buying foreign made goods, we'd all be a whole lot better off. [Edited by: Silverdog1 at 12/23/2008 10:45:45 PM EST]
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 23, 2008 12:40:58 PM Ignore radarman Report Abuse No.
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 23, 2008 9:03:19 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
dyeh Champion Author Illinois Posts:1,201 Points:315,755 Joined:Apr 2008	Message Posted: Dec 22, 2008 9:26:28 PM Ignore dyeh Report Abuse NormWilson: so... when you say we should loan with stock as collateral, you do realize this means that you're suggesting that the US government officially get into the automaker business, don't you? Just like how the US government is now officially getting into the banking business. State run companies. Sound familiar? Sounds kind of like... communism? That 'evil empire' institution we've been fighting against for decades? Care to rethink your line of reasoning?
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 22, 2008 7:05:40 PM Ignore bytebug Report Abuse "Yes, but as a loan, not a gift..." Bankrupt companies don't pay back loans.
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 22, 2008 11:22:56 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 22, 2008 7:44:58 AM Ignore radarman Report Abuse No.
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 21, 2008 11:35:39 AM Ignore bytebug Report Abuse "ensure their eventual success" Is the entire world wearing rose-colored spectacles? Their failure is a certainty. They have absolutely no hope of success!
NormWilson Veteran Author Texas Posts:352 Points:63,790 Joined:Oct 2008	Message Posted: Dec 21, 2008 11:20:25 AM Ignore NormWilson Report Abuse Yes, they are a necessary evil to our economy, but it should be as loans with stock given as a security and only after they have shown they are changing their fiscal and design programs to ensure their eventual success.
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 21, 2008 11:16:01 AM Ignore bytebug Report Abuse More money after bad...
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 21, 2008 9:26:27 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 21, 2008 8:35:00 AM Ignore radarman Report Abuse No.
dyeh Champion Author Illinois Posts:1,201 Points:315,755 Joined:Apr 2008	Message Posted: Dec 21, 2008 3:16:13 AM Ignore dyeh Report Abuse Don1222: You said "Every foreign auto manufacturing plant built in the United States have gotten millions of dollars of help or they wouldn't have built the plant where they did. It wasn't too long ago the Michigan got out bid by another State for a manufacturing plant, I believe Honda." Let's be clear. What kind of help are states giving foreign auto makers? Tax breaks? And they're NOT giving those same incentives to domestic auto makers? If both Honda and GM were to offer to build a new plant, and Michigan and Indiana both wanted to woo more industry to their state, are you saying that Michigan and Indiana would ONLY give incentives to Honda, and NOT to GM? I would be REALLY interested in any link that can explain that. As I understand it, if ANY company wanted to build a plant, and I were governor of, say, Michigan, I'd do my best to woo that company to my state. But if Ford chose to instead build its newest factory in Brazil, is the discrimination on MY part? Or Ford's? Oh, and by the way, Ford's new state-of-the-art factory in Brazil uses much fewer workers per car than a typical factory in the US. Ford chose Brazil to get around their union contracts. It has to; its union contracts are strangling Ford financially. Honda, who has no union contracts, can afford to build in the US whereas Ford can not. Honda and Ford are both suffering from decreased sales, but Ford is saddled with debt that it can not repay, debt owed to the unions for their pensions and healthcare that is sucking the economic blood from the company. No tariff could help woo Ford back to the US.
dyeh Champion Author Illinois Posts:1,201 Points:315,755 Joined:Apr 2008	Message Posted: Dec 21, 2008 2:58:25 AM Ignore dyeh Report Abuse Don1222: I appreciate your explaination of your position. I disagree when you put words in my mouth like "I believe I have seen where you have written that the foreign manufactures do not need any help. Where have you been?" For the record, I never said anything of the sort. Where have YOU been? I also disagree with the concept of the tariff as a playing field leveler and an economic weapon. Countries that impose tariffs ultimately subsidize inefficient industries and hurt their own citizens through lack of choice. Does Japan levy tariffs against US autos? How much? Please provide a link. As far as I can tell, Japan doesn't levy tariffs, but instead toys around with quotas. The autos that do make it through the quota system are not jacked up in price, however, can not compete with local brands that are much more fuel efficient. Japan, who is 100% dependent on imported oil, has gas prices more than twice that of the US. For instance, on Oct 18, 2008, when the average US gas price was $2.99, the average Japanese gas price was $6.44 USD. At those prices, I'd buy a fuel-efficient hybrid, wouldn't you? China does levy a 60% tariff on US autos. However, when I was visiting China last year, we were comparing prices: GM cars and Fords were selling at approximately the same prices as here in the states, when we converted prices in RMB into prices in USD. Similarly, Toyotas and Hondas were also similarly priced as what we find in the US. Chinese do tend to discriminate against Japanese cars, though, due to historic animosity. And the Chinese government does kind of favor some kinds of US autos in their quirky kind of way that makes comparing the Chinese economy to the US economy like comparing apples to baseballs. But the smog problem is really a big problem there, and the government does impose very strict emissions and fuel-efficiency standards that US cars just don't meet very well. Complicate this with the fact that GM and Ford produce cars in factories all over the world. Excuse me, doesn't this take away from US workers? and decrease US factory capacity? If Ford were to import a car made in its Brazil factory into the US, would Ford have to pay a tariff, if a tariff was imposed by the US government? I don't know. Similarly, Toyota has factories in the US, employs US workers, pays US taxes, would Toyota have to pay a tariff on every car that rolls off of the assembly line on US soil? I don't know. Please provide a link that may answer either one of these questions. Ultimately, tariffs hurt the country it tries to protect, and is the least of the Big 3's problems. Erecting US tariffs is about as effective as putting ointment on a rash, when the real financial cancer is the unsurmountable debt that US corporations owe their unions in pensions and healtcare. Foreign companies are not shackled by these money drainers because they simply don't have unions. It's pretty hard to keep up with the Jones' if the Jones' save and pay for everything in cash, while we're stuck with a $100k credit card debt at 21% interest. Correct me if I'm wrong, but the only legal way to discharge these onerous debts short of full and enthusiastic cooperation from the unions (would you give up your pension and healthcare benefits? Nah, thought not) would be through bankruptcy. And sure, amputating a gangrenous leg causes hardship, but NOT amputating the leg would result in death. Letting GM go bankrupt would cause much economic hardship, but bailing out GM would only add to the national debt that has already devalued our US dollar by 96% since 1913 and would obligate our unborn grandkids to pay off. The more we bail out companies, the more our dollar is devalued. Sooner rather than later, the US dollar would be worthless. The US economy dies. Let the Big 3 go bankrupt.
Silverdog1 Champion Author British Columbia Posts:14,886 Points:1,658,220 Joined:Jul 2008	Message Posted: Dec 20, 2008 11:51:16 PM Ignore Silverdog1 Report Abuse Canada has promised 4 billion dollars to the Canadian sector of the Big 3, or 20% of the American contribution to their side of their domestic auto industry. I have to agree with bytebug and his suggestion to "buy American". Most Canadians feel much the same way, but the problem in Canada is, that so many products made by Canadians, or Americans even, are no longer available. With consumer demand for cheaper prices, much of our industry has moved offshore. Who's fault is that I wonder? Isn't it great to be able to buy cheap American Company products that are made in India, Taiwan, China, or any of the other Asian countries? Remember when it used to be "cheap jap junk", that everyone scorned? Have a look at the tag on the next baseball cap that you buy or someone gives you. Chances are, it wasn't manufactured in either Canada or the U.S.A. I've seen comments by bytebug and various other people suggesting tariffs on imported goods. Well, we can't do that in North America because we have the "Free Trade Agreement" which is supposed to eliminate such tariffs between Mexico, Canada and the United States. That doesn't stop us from taxing other countries via tariff, but we need to keep in mind that for every dollar in products we sell to other countries, we are pretty much obligated to buy back an equal amount -- otherwise an imbalance in trade occurs. Make it expensive for other countries to sell us their products, and they simply stop buying ours -- stalemate. Japan has placed huge tariffs on imported American cars, yet we freely allow their imports and in fact have allowed their automotive manufacturers to set up shop in our countries -- in direct competition with our own domestic car builders. Were the first Japanese cars examples of wizardry in automotive technology? No, they were small, efficient and about half the price of an American car. Americans and Canadians bought them by the hundreds of thousands and continue to buy them by the million. We wonder why our domestic car industry is in such trouble. Various articles have suggested that the loss of the American Auto Industry will send North America into a full fledged depression. I have no reason to disbelieve this assertion. If half a million Canadians suddenly become unemployed and an additional five million Americans lose their jobs, the impact on our economies will be catastrophic. How much do you suppose the huge increase in the number of welfare recipients will cost us over the next five to ten years? How much will the nation-wide increase in crime cost us? How secure is your job?
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 20, 2008 9:42:26 PM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
bytebug Champion Author Orange County Posts:26,362 Points:4,120,705 Joined:Oct 2001	Message Posted: Dec 20, 2008 12:13:07 PM Ignore bytebug Report Abuse "If you have money to spend. Buy American." Its a world economy. If America can't compete, we deserve to fail. "They need some kind of import restrictions. Foreign countries have protected their manufacturing industry. If nothing else we need import tariffs." Bah... won't buy crap, no matter how cheap it is. [Edited by: bytebug at 12/20/2008 1:14:22 PM EST]
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 20, 2008 11:59:59 AM Ignore masonco Report Abuse I see many here do not realize who spent the money in USA. Examine who are out of work, who is not buying and why real estate dropped so dramatically. Even the finacial institutions that were bailed out took advantage of the union workers who had money to spend. I don't see the rich class stimulating our economy with Circuit city, Best buy, Wal-mart purchases. I do see the rich simulating foreign economies as they go overseas to spend their monies. If you have money to spend. Buy American.
gasman14 All-Star Author San Diego Posts:708 Points:202,345 Joined:Aug 2008	Message Posted: Dec 20, 2008 11:35:07 AM Ignore gasman14 Report Abuse Yes, but as a loan, not a gift
Load Champion Author Wyoming Posts:15,775 Points:2,952,505 Joined:Oct 2003	Message Posted: Dec 20, 2008 9:56:29 AM Ignore Load Report Abuse I stand on my own two feet! I think these companies should not be given any money. The workers are over paid. The Unions have the hands in this mess. The company puts out products that a good portion of the public don't trust or like. The CEOs need to be stripped of their Money and fired. I like the looks of Chry vehicles but don't think they are reliable. GM puts out a horrible product. I like the ford mustang, I haven't really had any problems with fords, but they need to lower the price tags and make them fuel efficent. I liked when vehicles had personility, now they all look the same. Would you be buying an AMerican Vehicle right Now?
chemist74 Champion Author Cleveland Posts:13,510 Points:2,395,980 Joined:Apr 2005	Message Posted: Dec 20, 2008 7:30:43 AM Ignore chemist74 Report Abuse The current Detroit "bailout" gives GM and Chrysler only a couple of months to undo years of bad management. Unless the UAW agrees to an immediate huge cut is salaries and benefits, it only delays bankruptcy a few months. At that point, plants will close, jobs will be lost, "foreign" car makers will get a much larger share of the US car market and the public will be out the money wasted on the bailout when it could have been used to help people who deserve help.
Don1222 Champion Author Michigan Posts:7,802 Points:1,089,855 Joined:Jul 2008	Message Posted: Dec 20, 2008 6:46:04 AM Ignore Don1222 Report Abuse They have some temporary help now. Congress has to do what they should have done 60 years ago. They need some kind of import restrictions. Foreign countries have protected their manufacturing industry. If nothing else we need import tariffs.
radarman Champion Author Florida Posts:9,132 Points:2,599,675 Joined:Apr 2005	Message Posted: Dec 20, 2008 6:26:11 AM Ignore radarman Report Abuse No.
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 20, 2008 6:21:44 AM Ignore masonco Report Abuse What would you do if you had no savings left? No family to support you cause they are struggling too? Unemployment here in MI is not temporary layoffs, it is permanent business closings. MI lost over a million dollars less then year in taxed revenue and expect that income to reduce even more. Income taxes are down cause people lost jobs or moved out of MI. Sales taxes are down cause the people left have no money to buy anything. In Mason county alone, almost 1000 families moved away in the last 4 years. Most of them moved to other states.
CrackedLCD Champion Author Alabama Posts:9,020 Points:1,751,375 Joined:May 2008	Message Posted: Dec 20, 2008 3:07:14 AM Ignore CrackedLCD Report Abuse Don, I've never been on unemployment. I've lived off my own savings and gotten help from family when I needed a hand up.
masonco Champion Author Michigan Posts:12,406 Points:1,826,385 Joined:May 2007	Message Posted: Dec 19, 2008 10:51:33 AM Ignore masonco Report Abuse Then take away what they GAVE the financial institutions. Make them pay it back as the auto companies and others who receive federal aid have to do. Those CEO's just used our tax monies to line their own pockets with spa weekends, bonuses for CEO's and such. With the auto industry, there is a huge trickle down effect already affecting those who depended on those union workers to buy goods and services from them. Restaurants, stores, most service industries (including hospitals, beauty shops, repair services, foreclosures. non profit organizations, government tax income, schools, banks and the list goes on with businesses affected with auto businesses shutting down. The cycle will continue as more people are laid off. Check out the high unemployment and decreasing population in MI over the past few years. The world will be affected since so many other countries actually own many businesses in America including the financial institutions we bailed out with free money.