[lbo-talk] U.S. auto sector bankruptcy would devastate: GM CEO

Doug Henwood dhenwood at panix.com
Mon Nov 17 12:39:36 PST 2008


On Nov 17, 2008, at 3:23 PM, Michael Pollak wrote:


> Here's a piece I found interesting trying to argue how bad it would
> be:
>
> http://www.tnr.com/politics/story.html?id=a4893b49-36df-4784-9859-2dfa3a3211bf
>
> He has a very pungent anti-union bias, but if you can hold your nose
> about that, it's got some interesting numbers.

Original source for this: "A study just published by the Michigan- based Center for Automotive Research (CAR) predicted that three million people would lose their jobs in the first year after such a Big Three meltdown, swelling the ranks of the unemployed by nearly one- third nationally and leading to hundreds of billions of dollars in lost income."

is

<http://www.cargroup.org/documents/FINALDetroitThreeContractionImpact_3__001.pdf

>.

Doug



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