If GM already asked Ford for a merger and is now talking to chrysler about one, then one can assume they are on the brink of bankruptcy.
Anyone know a % of WNY that works for anything having to do with GM, including the dealers?
There is no way this could be good for the area or the country for that matter.
Really? This couldn’t be discussed in the current thread where this topic has already been discussed a few times and it completely relevant?
Also - Large corporate bankruptcy does not necessarily equate to the Tonawanda engine plant being padlocked the next day. Nor does it mean that every dealer will instantly stop receiving new inventory. An employer that size, with that business model does not simply evaporate overnight.
…
That being said… it could EASILY be the death blow to this area. There are alot of high salaries (relative to WNY) paid out of the Ton Plant which account for alot of mortgages, taxes, and consumer spending.
There are alot of dealers which employ sales staff, admin staff, marketing & advertising agencies, finance companies, mechanics, and the like. They also account for mortgaging, commercial transactions in banking, taxes, and consumer support businesses.
I don’t know the exact number of employees directly tied to GM locally. But I can tell you that for every direct employee there are probably 1-2 local employees indirectly tied to them
Consider, in services of direct relation: rail & large trucking, electrical suppliers, consumables suppliers, and maintenance staffing. Now double that when you consider Delphi.
As far as indirect relation, consider those suffering the losses of direct relation to GM are now not spending, paying mortgages or taxes, they are not buying consumer goods with the same fervor… so now your other local municipalities & businesses are taking a huge hit as well.
:eek:
:picard:
This couldn’t be discussed in the current thread where this topic has already been discussed a few times and it completely relevant?
Large corporate bankruptcy does not necessarily equate to the Tonawanda engine plant being padlocked the next day.
Nor does it mean that every dealer will instantly stop receiving new inventory.
An employer that size, with that business model does not simply evaporate overnight.
That being said… it could EASILY be the death blow to this area. There are alot of high salaries (relative to WNY) paid out of the Ton Plant which account for alot of mortgages, taxes, and consumer spending.
There are alot of dealers which employ sales staff, admin staff, marketing & advertising agencies, finance companies, mechanics, and the like. They also account for mortgaging, commercial transactions in banking, taxes, and consumer support businesses.
I don’t know the exact number of employees directly tied to GM locally. But I can tell you that for every direct employee there are probably 1-2 local employees indirectly tied to them
:eek:
Delphi
sorry, didnt realize there was another thread about this. I look and didn’t find it.
Thanks for the intelligent answer though!
<===== Tonawanda here.Whether GM files or not,this plant won’t be here in another 10yrs.Too large of a plant,too outdated,etc.
Fixed.
<–Delphi
worked at delphi for 1.5 yrs.Building 9
I also started in 9 (supply man). I took a cruise through there on Friday to find some chains and the building is now completely shut down. It’s empty… It was actually depressing. Rumor has it that Honda wants to rent it for whatever reason.
same fate as Moraine…
If the gov helps out Banks , they def going to help out auto companys
shouldn’t the stock go up then,at least short term?Joe, what ya think