If they all go bankrupt, most of the state of Michigan will be unemployed. It's not that simple. What the companies need is someone to regulate them until they can get their crap together and prove they won't screw up again.
Edit: Back in the day you didn't need a degree to work for the big 3. My dad got hired into GM in the 60's with just a high school diploma. He made it all the way up to being vice pres of his division and this was corporate, not the plant.
I know someone that works at the GM plant in Pontiac, MI and all he does is spend his day at the bar around the corner getting drunk. Kind of a shame actually.
Edit: Back in the day you didn't need a degree to work for the big 3. My dad got hired into GM in the 60's with just a high school diploma. He made it all the way up to being vice pres of his division and this was corporate, not the plant.
I know someone that works at the GM plant in Pontiac, MI and all he does is spend his day at the bar around the corner getting drunk. Kind of a shame actually.