GM-Chrysler deal may cost 35,000 jobs

GM-Chrysler deal may cost 35,000 jobs

money.cnn.com

Michigan, home to Chrysler's Auburn Hills corporate headquarters, would be hit hardest if there was an acquisition. The state would lose 8,000 to 10,000 factory jobs, and the bulk of the 10,000 to 15,000 lost white-collar positions would be in Michigan, Anderson said.

Other Midwestern states would lose 10,000 to 12,000 factory jobs

(visit the link for the full news article)


Related News Links:
www.bloomberg.com
www.reuters.com
www.chicagotribune.com

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The impact that this will have on the economy in Michigan is unbelievable, and doesn't even address the 'trickle down' employment issues arising from a merger.

If they do merge, product lines will be dropped resulting in job losses for the supply base and further erode the base of employment that support those businesses.

That means more foreclosures, personal and business bankruptcies, and a whole lot of hurting for a lot of people.



money.cnn.com
(visit the link for the full news article)

oh my god!

I live here... we've already lost soooo many jobs over the last few years... its obscene.

Until the last tally, we had the highest unemployment rate in the country... now we're 2nd highest...

sigh... duck and cover I guess

thanks for the heads up OP... I hadn't seen that story yet...

does not matter now , USA is a heading for a massive fall and possible civil war ..

i hope i could watch the civil war happen in USA in the future and watch it on TV , i will be very entertaining to watch a civil war in USA

does not matter now , USA is a heading for a massive fall and possible civil war ..

reply to post by sadchild01



Why do you think that?

Civil war?

I think we will have a short severe downturn in the economy and then have the biggest bull market we have ever seen.

I may change my view as one of my favorite finance wiz gurus will address the issue today at 15 hundred hour CST on Bloomerg.

I own a mini van from Chrysler. I hope I can still get parts. We may have to get inventive as Cuba did.


[edit on 29-10-2008 by whiteraven]