The Wall Street Journal was reporting last night that "General Motors Corp. has hired some of the U.S.'s biggest names in restructuring to consider whether to file for bankruptcy protection."
The largest number of jobs put in jeopardy by the collapse of the domestic auto industry would not be UAW workers on the assembly line but workers in dealerships across America. According to research by a professor at Boston College, "the maximum impact if the entire automobile industry in the US were to shut down completely and permanently would be 190,000 jobs in auto manufacturing."
However, the report states,
"Auto dealerships constitute the greatest number of jobs within this industry; some 1.235 million total, with about a million jobs in sales alone, most of which are part-time, each amounting to an average of less than 15 hours per week."
If Americans continue to buy about eight million new cars a year, they will buy whatever cars are on the market and, on assumes, the remaining car manufacturers will take over plants, workers and dealerships to fill the need.
We are living in interesting times.