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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: ild who wrote (28673)4/27/2005 4:05:53 PM
From: TH  Read Replies (1) of 116555
 
ild,

I am aware that Porsche purchased futures to lock the Euro/$ for three years. I would assume that Mercedes and BMW did something similar.

I work for Germans, and I find them extremely savvy when it comes to protecting against currency fluctuation. For example, this afternoon I am preparing a position letter for one of the Big Three. In this proposal I am offering the promise of no requests for cost increases for the life of the program (5 years, the same number of years we will be committed to giving back a small percentage price reduction each year). The reason I can do this is that cost for this five years of currency protection is already baked into my cost. I score some points against those (bastards dammit!) Japanese, because they will not offer this.

GT
TH
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