Detroits Big Three On Catastrophe
Due to the effect of World Financial Crisis the U.S. Big Three Automakers companies are in the downfall situations which asking for a lifeline of about 25 Billion in order to save their company for bankruptcy. According to the officials of the big three the aid of the government is very important in order to save the company and save also the jobs of about 3 million employee of the Detroit’s big three. Imagine 3 million employee will be affected if the Big three will turn into bankruptcy. No wonder if this can happen it might cause damage on the economy of U.S. As we all know General Motors GM Chrysler and Ford are the U.S. Big three car makers which is not only largest around U.S. They are also belong to the largest automakers in the world. For every decades they took the spots of top three when it comes to sales and production. Though in some part the foreign automakers like Toyota and Honda is quite relieving them into the top three spots. Especially this year due to the financial crisis foreign automakers have slight take over into the spots.
If the Big Three are not bailout by U.S. Government there might be a strong problems with regards to car industry not only in United States but also in car industry all over the world. The Big Three have their own reputable identity in world auto industry. If ever they can’t survive into the financial catastrophe their wide network in global car industry will affect the economy of every countries which they have their network. If that will happen it might be a worst scenario for every individuals that engage into the companies of Big Three. In that matter it might be a serious scenario also for the government on how they can give jobs for over 3 million people that lose their job because of losing the Big Three automakers. This will serves as economic disaster if this will happen. The Federal bailout of 25 Billion for the Big three is very important in order to save the automakers in their networks their employees and the economy. This is only the solution in order to save the Detroit Big Three in falling. If the automakers fail there will be a devastating impact on the overall American economy which lead into more economic problems.
If the Big Three catastrophe is continue until first quarter of 2009 their might be on danger on not shown already in car industry. Some of the solutions thought by the government is merging of those automakers in order to survive from the financial turmoil. Even U.S. Presidentelect Barack Obama according to New York Times Obama asks Pres. Bush to provide help for automakers. Obama urged an emergency support for the auto industry. But the congress and the Big Three officials are still on the discussion if the government will put up a Bailout 25 Billion this year for the automakers and another 25 Billion next year. The decision is still inconstant because of Pres. Elect. Obama is not yet takes the office. The Bush administration is still in control but it remains no direct answer coming from it if they’re going to give the bailout.
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