Reply #3: One reason why the Big 3 are having so much trouble is that the banks [View All]

[amandabeech]

won't lend to folks who want to buy a car now!

How can a business survive if its customers can't get credit for big ticket items?

Oh yes, and the Big 3 have huge pension and health care expenses for their retirees. Those are benefits bargained for long ago, often at the expense of current wages.

The Asian car manufacturers in the U.S. offer only a 401(k) and no help with a Medi-Gap program to cover what Medicare doesn't cover. If they had been in the U.S. for 100 years like GM and Ford, they would have the same pension and health care liabilities that the Big 3 have, and would be suffering as well.