Word: carlies
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...abandon politics and take a job as head of a foundation: "The job offered much-needed financial security, a point Michelle was pushing. This was also a pattern in their marriage - she playing the role of the industrious, paycheck-retrieving ant, he the role of the devil-may-car grasshopper. Unafraid of plastic, he had a habit of putting professional expenses on his credit card and neglecting to file for reimbursement...
...current crisis is much more likely to accelerate structural changes taking place in the car industry across Western Europe. In the coming years, German car makers are likely to move more production out of the country and closer to their customers in Russia, the U.S. and Asia. Assuming, that is, that they still have a growing customer base in those places...
...that spells trouble for the likes of BMW, Mercedes Benz, Porsche, Volkswagen, Ford Europe and General Motors' Europe arm, Opel. Ferdinand Dudenhoffer, a respected industry analyst, predicts that the number of new German cars delivered to customers in 2008 will fall by at least 100,000 units to around 3.1 million, and will likely slip below three million next year. As a result, he says, German car companies will have to cut up to 20,000 jobs over the coming year...
...also struggling with the downturn, especially the massive decline in car leasing contracts in the U.S. It says that its plant in Leipzig will close for a week later this month and its Regensburg plant will shut from Nov 3 to 7, during the Bavarian Fall holidays. Union officials say the company's main plant in Munich may also shut for a few days. Ford plans to cut production at its Saarlouis plant in southwestern Germany and says it is also laying off 204 part-time workers. Mercedes parent Daimler announced earlier this year that because of slower demand...
...Speaking at the Paris Motor Show earlier this month, Carl-Peter Forster, president of GM Europe, said that car sales were falling fast across Europe and that higher gas prices had made the cost of car ownership prohibitive. To own and operate a car in Germany now costs 25.5 % more than it did in 2000, he said, while the consumer price increase has only been 15.6 %. Forster believes carmakers need help from Europe's capitals to turn the situation around. He wants European governments to stimulate the economy, free up credit and restore consumer confidence...