Quote:
Originally Posted by ducati_atx
That was the auto industry's rollup for all primary and supplier jobs if the big 3 folded. I could look up the exact number and quotation if you wish. From memory it was ~1M jobs.
Edit: I also dont believe that just because a company goes into bankruptsy protection means that it will completely fold operations up. companies do it all the time. It however will mean that they can renegotiate their union contracts as well as stop paying benefits to former employees.
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It would be good to see the actual quote, if possible. Just think though; based on your number that's 1M fewer people paying taxes and receiving an income, with the attendant drain on unemployment support. That's 1M possible foreclosures on property that is worth far less than it was, with little chance of recovering the financial outlay from institutions that cannot take that strain.