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In addition to the Big Three hundreds of large suppliers of parts are in financial crisis as well; most would go under if the Big Three go bankrupt.
In addition to the Big Three hundreds of large suppliers of parts are in financial crisis as well; most would go under if the Big Three go bankrupt.
===Bankruptcy scenario===
===Bankruptcy scenario===
Bankruptcy of the Big Three would be very expensive to the economy as a whole and the federal government. It would mean loss of 240,000 very high paying jobs at the Big Three, a loss of 980,000 high-paying jobs at the suppliers and local dealers, and 1.7 million jobs throughout the economy. It would cause a decline in personal income of $151 billion the first year, and $398 billion over three years. The federal, state and local governments would lose tax revenue and spend on welfare programs a total of $156 billion over three years.
Bankruptcy of the Big Three would be very expensive to the economy as a whole and the federal government. It would mean loss of 240,000 very high paying jobs at the Big Three, a loss of 980,000 high-paying jobs at the suppliers and local dealers, and 1.7 million jobs throughout the economy. It would cause a decline in personal income of $151 billion the first year, and $398 billion over three years. The federal, state and local governments would lose tax revenue and spend on welfare programs a total of $156 billion over three years.<ref> CAR Research Memorandum. "The Impact of the U.S. Economy of a Major Contraction of the Detroit Three Automakers" (Nov 2008) [http://www.cargroup.org/documents/FINALDetroitThreeContractionImpact_3__000.pdf online edition]</ref>
== Fuel ==
== Fuel ==
==Bibliography==
==Bibliography==
* Bonin, Huber et al. ''Ford, 1902-2003: The European History'' 2 vol Paris 2003. ISBN 2-914369-06-9 scholarly essays in English; reviewed in Len Holden, "Fording the Atlantic: Ford and Fordism in Europe" in ''Business History '' Volume 47, #1 Jan 2005 pp 122-127
* Brinkley, Douglas G. ''Wheels for the World: Henry Ford, His Company, and a Century of Progress'' (2003) [http://www.amazon.com/Wheels-World-Company-Century-Progress/dp/B000BZ99PQ/ref=sr_1_1?ie=UTF8&s=books&qid=1198975451&sr=8-1 excerpt and text search]
* CAR Research Memorandum. "The Impact of the U.S. Economy of a Major Contraction of the Detroit Three Automakers" (Nov 2008) [http://www.cargroup.org/documents/FINALDetroitThreeContractionImpact_3__000.pdf online edition]
* CAR Research Memorandum. "The Impact of the U.S. Economy of a Major Contraction of the Detroit Three Automakers" (Nov 2008) [http://www.cargroup.org/documents/FINALDetroitThreeContractionImpact_3__000.pdf online edition]
* May, George S. ed. ''The Automobile Industry, 1920-1980'' (1989), 520ppl comprehensive encyclopedia
* May, George S. ed. ''The Automobile Industry, 1920-1980'' (1989), 520ppl comprehensive encyclopedia
[[Category:Transportation]]
[[Category:Transportation]]
* Nevins, Allan and Frank Ernest Hill. ''Ford: The Times, The Man, The Company'' (vol 1, 1954); ''Ford: Expansion and Challenge, 1915-1933'' (1957); ''Ford: Decline and Rebirth, 1933-1962'' (1962), the standard history of the company and biography of Ford; [http://hdl.handle.net/2027/heb.94045 ACLS E-book vol 1]; [http://hdl.handle.net/2027/heb.94045 ACLS E-book vol 2]; [http://hdl.handle.net/2027/heb.94045 ACLS E-book for vol 3]
* Watts, Steven. '' The People's Tycoon: Henry Ford and the American Century'' (2005), major biography