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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Friday, October 10, 2008 ::
GM and Ford may be too big to fail - By Ken Bensinger, Los Angeles Times
Despite perilously small market capitalizations -- GM is now worth less than $3 billion -- the two continue to bring in massive revenue and spread their money over a huge number of people. With more than 350,000 employees between them, they are true Goliaths, and when one factors in the estimated six indirect jobs created by every Ford and GM worker, nearly 2.5 million jobs are tied to the Big Two (Chrysler is privately held). By comparison, the U.S. has lost about 760,000 jobs this year.
Add to that the deeply symbolic role GM and Ford have in the country's industrial history, and many believe that no politician would ever let such a failure happen.------------------------------------------- posted 6:40 AM :: reference link ::
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