In article ,
"Ed Huntress" wrote:

"ATP*" wrote in message
...

"oldjag" wrote in message
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Well, I guess most folks don't really care to much if the US auto
companies fold, judging by the internet postings. If one or more does
fold, who has the capital in the US right now buy up any of the
assets? The cost of admission for new vehicle design is very high.

They need to go bankrupt and reorganize. There will still be a US auto
industry and it will be more competitive than ever without the UAW
millstone around its neck.

Most of the industry experts I've heard over the past few days say there
will be no receivership and no reorganization. People don't buy cars from
bankrupt manufacturers. (Studebaker is an example; once it became known they
were thinking about getting out of the car business, they were.) They'll go
straight to liquidation, possibly with a few months of receivership in order
to handle the selloffs. The brands have very little goodwill equity so most
of the remaining value will be real estate and hardware.

Studebaker.

My parents owned a Studebaker when the company collapsed, in 1953 if
memory serves. The car became instantly worthless, for lack of repair
parts. I don't recall how long it was before we were forced to replace
that car at a loss, but it wasn't long. They broke a lot.

We subsequently had two Ramblers (both were junk!), then in the 1960s my
Mother discovered Volvos from reading Consumer Reports. Volvos were new
and cheap then.

The family has not bought an American car since.

Joe Gwinn