GM Makes Its Case On YouTube

GM is trying its best to win some public support for government help by going straight to YouTube. They’ve put up a video explaining some of the consequences if they and the rest of the US auto industry were to completely go out of business. Basically, estimates of up to 3 million jobs would be lost along with well upwards of $400 billion in tax revenues and economic activity. The rest of the facts GM shows may seem overly dramatic, but are accurate nonetheless.

The fact is that many economists acknowledge that the loss of the auto industry could very likely push us out of a recession and into a full blown depression. Despite what GM’s critics say, you dont lose an industry with hundreds of companies with operations around the globe and expect to get off with no hugely negative consequences. Some rightly judge GM’s extremely poor management and say that they deserve to fail. Poorly managed companies do deserve to fail, but GM should not be allowed to fail under these circumstances, the economic loss at this point would be too great.

Another fact is that as contrary as it may sound, US automakers are now more competitive than ever and manufacture vehicles that are as high-quality and fuel efficient as those of any other manufacturer. Old stereotypes persist and while well deserved in the past, are not accurate of today’s vehicles. Here is an article to check out after the video that debunks many of these stereotypes.