Automakers have warned that millions of jobs depend on quick federal aid to the manufacturers of iconic brands including Buick, Cadillac, Chevrolet and Jeep, and have taken out web and newspaper ads warning of the dire consequences of the industry's demise.
Wagoner has warned GM needs an infusion of cash in the coming weeks to prevent a devastating bankruptcy at the nation's largest automaker and cannot wait until president-elect Barack Obama -- who has promised to bail out the sector -- is sworn in on January 20.
Tell the GOP to get its head out of its ass; after all, workers are also voters.
And WSWS notes:
Meanwhile, auto parts companies have joined Detroit’s Big Three automakers—General Motors, Ford and Chrysler—in seeking a portion of the $700 billion government bailout. Economists predict that if one or more of the automakers were to fail, some three million jobs could be wiped out throughout the economy. Congress is holding discussions on the bailout under conditions of a growing consensus—reiterated by President-Elect Barack Obama in his “60 Minutes” interview Sunday—that any government aid package would be contingent on auto workers accepting sweeping wage and benefit concessions.
The economic downturn is already taking a massive social toll. The number of personal bankruptcy filings jumped almost 8 percent in October over the previous month—after increasing sharply over the last two years—according to Mike Bickford, president of the Automated Access to Court Electronic Records, a bankruptcy data and management company.
It's the domino effect. Auto industry job losses equal auto parts job losses, equal gas station job losses, equal local business job losses, equal local government and school job loses, and it eventually goes national.
Tell that to shithead Shelby. He can't count.
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