Bankruptcy for GM…

One of the big stories of the last couple days has been the bankruptcy of GM. Most analysts are saying that this is a necessary, if unfortunate, move on GM’s part (which is now 60% owned by the taxpayer–suddenly their employee pricing incentives seem inadequate). And while this move may keep the company competitive and, thus, alive, it certainly won’t be without pain. Roughly 2000 dealerships will be closed, and many industry workers will lose their jobs. Look for more unemployment claims despite the recovering economy.

But there is one silver lining here: Ford. Next year, Ford–which was not forced to take a government bailout–will be ramping up production, in hopes of increasing their market share amongst their struggling competitors. So, if you know that your job with GM are on the chopping block, you might think about applying at Ford.

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