Because if they fail it could cause a depression. Â At least that’s what one of their top execs, Jim Press, says.
“We’re on the brink with the U.S. auto manufacturing industry,” Press told The Associated Press in an interview. “If we have a catastrophic failure of one of these car companies, in this tender environment for the economy, it’s a huge blow. It could trigger a depression.”
I’m glad we have someone with his proven level of economic prowess in running a company into the ground to predict the economy for us. Â Why couldn’t this soothsayer see the problems in his own company and avert them?
I’ll start looking to the execs of the Big Three for economic expertise as soon as I finish up getting investment tips from my uncle with his closet full of Beanie Babies.