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Yes, even the seemingly bullet proof auto makers have stalled. This morning, Toyota reported abysmal third quarter results and warned that it's heading toward its first annual loss since 1950.
The suppliers are now talking with the Treasury Department about getting $20.5 Billion in federal aid. These guys are hurting, close to collapsing, and on the verge of blowing a hole through the auto industry.
When auto sales plunge 37%, it may seem like I'm piling on pointing out the auto makers who really struggled during the worst month for the industry in 27 years.
All right, before you fire off an e-mail to me and tell me to "get a clue" because tens of thousands of people did buy a new car or truck last month, take a deep breath. Exhale.
Ford reported January sales dropped 42 percent, which is far worse than the estimate on Wall Street of a decline of 31 percent. On the surface, this would appear to support concerns that the auto market has not stabilized. I'm not sure that is a fair conclusion. Here's why.
Strange as it sounds, January auto sales could wind up being worse than the dismal numbers we saw in December. While that may lead some people to think the auto market and consumer are getting weaker, the reality could be far different.
In truth, few Super Bowl car ads ever really stick with viewers. Think about it? How many can you remember? Aside from Cadillac's "break through" ads featuring Led Zeppelin, few have staying power.
I asked the questions, and you told me in no uncertain terms what you think the President should do with the auto makers. Your reasons for each answer varied, and there were some you disagreed on more than others. With that said, let me give you a sense of some answers.
The big news overnight was the floating of a trial balloon by the Japanese government to buy shares in firms as part of a scheme to supply liquidity to the corporate sector.
I hear it all the time. "Those guys know how to build a car that can get 50 MPG, but they just don't want to."
Global governments, like Japan, Sweden and possibly Russia, are stepping up aid to support ailing financial companies in order to re-instill economic growth.
The rally on the Dow Jones Transportation Index will fail and a long-term downturn can be expected for the index, Roelof Van den Akker, chartist at ING Wholesale Banking said Tuesday.
US President Barack Obama won't be there, but many other major world leaders will be on hand, and policy experts say they'll have to do more than just show up if they want to jumpstart the global economy.
When I strolled into the New Orleans Convention Center this weekend for the National Auto Dealers Association annual meeting, I expected optimism. Even in a recession, these guys are sales people. It's what they do.
Stocks fell on Friday, pressured by weak corporate earnings and concerns about the outlook for the rest of the year.
Wondering what President Obama is planning to do to save the auto industry? Just ask some of the people the President's advisors have been consulting.
Global stocks ended the week lower Friday on heightened economic fears. The dollar and government bonds gained as investors parked their money in safe havens.
Now that he's taken the oath of office a second time, watched the Jesse White Tumblers in the inaugural parade, and danced at several balls celebrating his inauguration, President Obama faces some tough choices with the auto industry. What should he do? What would you do if you were sitting in the oval office?
The yen rose toward a 13-1/2 year high against the dollar and a seven-year peak versus the euro on Thursday. While the sterling fell again against the greenback, nearing $1.3618, its lowest since September 1985.
A few years ago, this kind of news would elicit hand wringing in Detroit, another round of "Detroit is Failing" headlines, and statements of false bravado from GM executives who often reacted with denial whenever the company slipped. Those days are gone.