Word: auto
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Rusfinance and Société Générale officials say they are working the crisis to their advantage and have increased the company's share of the auto-loan market. "We see this as an opportunity," says Lyudmila Bogushevskaya, director of Rusfinance's regional network department...
...down to about $45. That's a drop of more than two-thirds. In the U.S., we consume about 15 million bbl. of crude a day. The saving of $95 per bbl. adds up to more than $500 billion a year. That's big - enough to bail out the auto industry 15 times...
Talking about Tung’s comment on trading, Secreto said that domestic policies can be a challenge. “He talked about it, but he didn’t address the feelings of auto worker in Michigan or the factory workers in Ohio, who think that China is taking away their jobs. Those feelings are real. Yes, we need more trade, but there are more serious problems...
...asks Jerry Lelito, a General Motors plant manager for 23 years. "Those bankers make huge windfalls, and the executives walk away with golden parachutes. These are hardworking American workers who make up the industrial core in this country. So many other industries depend on the existence of the U.S. auto industry." Warren David adds that while the younger immigrant generations are not as directly affected (many have received better educations and went on to become lawyers, doctors, and other professionals) their occupations are still being indirectly - and heavily - hit. "Michigan's entire economy has been going down," he says...
...That's especially bad news for General Motors, currently begging for a bailout from the U.S. government. China has been a rare success story for GM in recent years, where its Buicks and Chevys have been consistent market leaders. A sharp downturn in China, auto analysts say, will add to GM's woes. While sales of Chevrolet-branded cars have remained robust, sales of Buicks fell 14% so far this year, according to GM. Still, GM remains committed to China, where earlier this month, Kevin Wale, president of GM China, said the company plans to introduce 10 new models...