The death of Pontiac

 

What is going to be even sadder is when all of the jobs lost at GM, Chrysler and all the tier one suppliers become evident in our ecomony. Moog, Lear, Dana, Johnson Controls, Borg Warner, Kelsey Hayes, etc will all be forced to fire thousands of workers and then pass costs on to the survivers, which by the way, are all of the foreign transplant automakers in this country. Chapter 11 filings will spread through the tier two group like wildfire. These suppliers will literally require payment on delivery from GM and Chrylser for parts before delivery. That was common practice for Chrysler supplier durin their past near bankruptcy until 1983, when they began to turn a profit again.

 

Another sad story is that 40% - 50% of GM/Chrysler dealerships will be closing their doors as well.

 

When all of this "Industry consolidation" is over, look to be paying a lot more of a quality car or truck.