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Highlight Reel:1.Manufacturing and Labor: When it comes to automotive parts and major equipment in New England, folks ain't interested. Companies there reported double-digit sales declines since last winter, with some firms describing the market as "the worst they can remember." Nearly half of the manufacturers surveyed said they expect their profits to decline through the end of 2009. "The outlook," the Book notes, "is pessimistic." One Boston respondent told Fed officials that the economy's "bearish mood" has even spread to the higher-education sector. Staffing centers are gloomy on the East Coast; says one contact,"Everybody...
...Importantly, all three companies promised to make money by 2012, even in a worst-case scenario of selling just 12 million cars and light trucks annually - 4 million fewer than in 2007. The key is a revamped portfolio more heavily weighted to smaller cars and crossovers, as well as to hybrids and electrics that are far more efficient than the current fleet. That's crucial because Detroit currently loses money making cars in North America. You see the problem...
...Worst Cars of All-Time here...
...time without Congress, saying that "an intervention will happen either legislatively or from the Administration ... I think it's pretty clear that bankruptcy is not an option." Until now, President Bush has been unwilling to consider such an approach. But on Tuesday, the same day the automakers reported their worst month of sales in 26 years, the White House did not rule anything...
...Worst Cars of All Time...