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Charleston, SC -
As the White House steps in, you may wonder does this impact me? Especially if you're not in the market for a new car. The short answer is yes.
The big three, still sitting in idle. "Its that unknown that just drives people nuts," said Sears Sauls who runs Hendrick Honda in West Ashley. He's in favor of a bailout or bridge loan in order to protect the auto economy and keep the nation from driving deeper toward depression. Without an intervention, Sauls says his sales won't speed up.
"Everybody is just waiting for the other shoe to drop, they just don't know what to do," said Sauls.
A meltdown could mean mega job losses for the production beltway and across the nation. South Carolina alone has almost 26,000 automaker jobs. Plus almost another 16,000 south carolinians are employed by dealerships. "I think to run the risk of them going into bankruptcy is never good," said Mayor Joe Riley
(web | news | bio) . GM and Chrysler have said they need $4 billion each before the end of the year to stay afloat. Bankruptcy, not an option. They say it would immediately send fear among shoppers that warranties and repairs would not be fulfilled. "What would you do if you had to have brand x service, part supply is gone?" said Sauls.
"It's like you have a patient that's not doing that well, the U.S. economy, and then you do something that makes it even more substantially sick, I think would be unfortunate," said Riley.
Auto leaders and Americans looking for a cure. Senator Jim DeMint
(web | news | bio) also sounding off on the bailout saying the unwillingness of the union to negotiate is outrageous.
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