Hey everyone! Welcome to the new year and it’s going to be a great one. I wanted to share that I actually contributed to Barack Obama’s campaign today. I know that he is rich and the party is too but I felt that if we want to keep this enthusiasm alive… why not donate when we still have jobs. I will admit that my name is now put into inauguration list… but that is a plus. You can donate here. I wanted to share this for those that have not seen it yet…
From plants to parks. From dealerships to driveways. From gas stations to grocery stores. What happens in the automotive industry affects each and every one of us. In fact, the collapse of the U.S.-based auto industry wouldn’t just impact the more than 239,000 Americans directly employed by the Big Three. One out of every 10 people in America is employed in a service that is related to the U.S. auto industry. If a plant closes, so does its suppliers, the local stores, the hot dog vendors, and the local restaurants. The effect would be devastating in ways of which you never have thought:
Nearly 3 million jobs would be lost in the first year alone – with another 2.5 million to follow over the next two years
Personal income in the United States would drop by more than $150.7 billion in the first year
The cost to local, state, and federal governments could reach $156.4 billion over three years in lost taxes, and unemployment and health care assistance
Domestic automobile production would more than likely fall to zero – even by international producers, due to supplier bankruptcies
The credit crisis that is affecting us all is wounding the U.S. auto industry in many different ways. Carmakers can’t get loans to restructure and to produce new advanced technology vehicles. Suppliers and dealers can’t get loans for routine business, and customers can’t get loans for new cars.
