Word: auto
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Nissan CEO Carlos Ghosn, the charismatic leader of Japan's number three automaker, sat down with TIME to discuss the auto industry's current crisis, how to make electric cars a reality, and what we'll drive 10 years from now. Though better off than its American counterparts, Nissan recently reported a 39% drop in second-quarter profit, has seen its stock price plummet, and plans to halt production of nearly 300,000 vehicles through March of next year...
TIME: How do you see the auto industry's current problems playing out? Carlos Ghosn: We are expecting year 2008 to show a very significant decline compared to 2007. We are preparing ourselves for a couple of very tough years, not only in the U.S., but particularly in the U.S. The only good news that may come will come from emerging markets, because the number of cars per inhabitants is very, very low. There are 50 cars per 1000 inhabitants in China... compare that to 600 per 1000 on average in most Western countries...
...alone owes $48 billion). To that end, the GOP wants a change in leadership at all three companies. "I have yet to see any semblance of a plan for General Motors to become viable," Senator Arlen Specter, a Pennsylvania Republican, said on the Senate floor. "General Motors and the auto industry have been on notice for a long time that they were in a very difficult, competitive situation...
...Still, there were two key differences then: Hoover was actually eager to work with Roosevelt, while Bush has little interest in helping Obama push through an auto-industry bailout. Also, Roosevelt's Inauguration was not until March 4, while Obama's is set for Jan. 20. "That was a much longer period in which the Depression and other things went on," Hess says. "So the delay was much more serious. Whatever happens now, they're just postponing things for a few weeks...
...been the cause of any personal injuries or property damage.The NRA has taken up arms (figuratively) over this clause in the questionnaire, condemning it as "biased" on the basis that applicants are not questioned on their use of motor vehicles, arguing that more deaths and injuries occur through auto accidents than firearms. South Carolina Senator Jim DeMint spoke out against the question, declaring his intent to "enact legislation to prohibit this type of discrimination...