In another bit of good news for the auto industry, top executives of foreign car interests have started voicing some major concerns over the fate of the big three.  According the the New York Times the ramifications would be global if Ford, GM, and Chrysler were to collapse:

Ferdinand Dudenhöffer, director of the Center for Automotive Research in Gelsenkirchen, Germany, warned that the indirect effect of a potential G.M. collapse for American parts makers would be severe. He added that German manufacturers in the United States, like Mercedes and Bayerische Motoren Werke, the maker of BMW cars, would have to rethink not just their American supply chains but their global ones as well.

“There would be no winners, only losers,” Mr. Dudenhöffer said. “This would create a huge mess around the world.”

Even though US car companies seem to be getting out of the world car market; the attempted sale of Volvo, and the sale of Jaguar come to mind, it seems obvious now that the failure of these American car companies would have a real global impact.  This could be taken in many ways, but one that you may not have thought of is the fact that this “global economy” (to use the catch phrase) depends of all parts of the machine working well.  When people talk about protecting American jobs, be skeptical and remember that if a Japanese car company is doing well and taking our jobs that we are inspired to be better ourselves.  The current crisis is a long overdue tightening of the belt and hopefully a purge of the Union labor that has killed the big three.

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