It’s never “The Corporation” that suffers. The people who made the bad decisions have long since divested themselves of any investment in the company so the stockholders will be left holding the bag. Who are the stockholders? Some of them are baby-boomers who are just getting another kick in the crotch of their 401K’s. Some are pension funds, some are university endowment funds, some are non-profit organizations and trusts, so all of these entities will lose capital and be less able to provide education, pensions, community services.
As far as overpaid auto workers, their average salary (union) is $28/hr, or about $60,000/yr. They also get decent medical benefits and a pension. Hardly a king’s ransom just solidly middle class. Now that they will lose their jobs, they can earn $7.50/hr and we can lose the 33% ($20,000) that they would have paid in various taxes. They also won’t be able to buy a lot of consumer goods so other people who work in maufacturing, retail or entertainment might find their jobs in danger.
It is small and mean-spirited to wish bad for others. Everyone is connected and the bad times for others will eventually impact you.