Chuck
10-24-2008, 07:55 PM
"We continue to be in the most difficult economic period most of us can remember" - Chrysler's Robert Nardelli (http://www.time.com/time/business/article/0,8599,1853600,00.html)
http://www.cleanmpg.com/photos/data/500/gm_ford_chrysler_copy.jpgJoseph Szczesny- Time – Oct 24. 2008
Amazing hubris...as recently as 2006 acted like the large pickup/SUV market would maintain the proportions of the 1990s - did have any kind of contingency plan as you expect professionals would when the inevitable day comes cheap gas and credit ends -- Ed.
General Motors is 100 years old this year, but its chances of reaching 101 as an independent company seem to be diminishing. GM is running out of cash and ideas and pursuing merger talks with Chrysler, which is also talking to Nissan. Ford Motor Co. this year celebrated the 100th anniversary of the Model T, an invention that significantly altered almost every aspect of American life from shopping to sex. But Americans are doing demonstrably less of the former when it comes to cars. Sales are braking quickly, and this month are expected to be at their lowest level in 25 years, industry experts predict. According to J.D. Power, automakers will sell 10.8 vehicles at retail (fleet sales will add another 2.8 million). That's a drop of more than 15% from 2007. "Nobody's is coming into the showrooms," notes a senior official from Volkswagen of America.… http://www.time.com/time/business/article/0,8599,1853600,00.html
http://www.cleanmpg.com/photos/data/500/gm_ford_chrysler_copy.jpgJoseph Szczesny- Time – Oct 24. 2008
Amazing hubris...as recently as 2006 acted like the large pickup/SUV market would maintain the proportions of the 1990s - did have any kind of contingency plan as you expect professionals would when the inevitable day comes cheap gas and credit ends -- Ed.
General Motors is 100 years old this year, but its chances of reaching 101 as an independent company seem to be diminishing. GM is running out of cash and ideas and pursuing merger talks with Chrysler, which is also talking to Nissan. Ford Motor Co. this year celebrated the 100th anniversary of the Model T, an invention that significantly altered almost every aspect of American life from shopping to sex. But Americans are doing demonstrably less of the former when it comes to cars. Sales are braking quickly, and this month are expected to be at their lowest level in 25 years, industry experts predict. According to J.D. Power, automakers will sell 10.8 vehicles at retail (fleet sales will add another 2.8 million). That's a drop of more than 15% from 2007. "Nobody's is coming into the showrooms," notes a senior official from Volkswagen of America.… http://www.time.com/time/business/article/0,8599,1853600,00.html