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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: TH	1/26/2009 12:54:33 PM
	13 Recommendations Read Replies (2) of 110194

Short Automotive Comments. I'm getting really tired of people losing their jobs. It is reaching the pain/heartbreak stage now, as people I've known for a decade or more call me looking for anything. Another excellent Ford contact was let go Friday morning. And they were the sole champion of a major cost savings effort and now I believe that activity will be at risk for the scrap heap. Simple math, that effort will save at least a million and their full fringed salary and bennies could not be more than 200K. A five to one return for Ford they will lose if they do not reassign someone. Releases are a mess at GM. One day we hear they are building trucks, and the next we hear 14 plants will stay on extended shutdown. Even my best GM contact just throws his arms up and says he does not know, for the simple reason that they do not know if people will buy more, less, or the same. I took a bold move this morning, as I told our production and logistics people that we will just tell them we don't have the parts if they keep bumping up releases in less time than we have for production and shipping by sea. We have never done this before and have always paid the cost to fill an air container, but now it has to stop. I can't carry a massive inventory if they cut releases again and I can't keep breaking into production schedules to bump up orders because there is no plan. The coldest I've been this year was sitting in the lobby at one of Ford's buildings. I do not have direct access to this building, so I have call someone to open the door for me. It appears they have completely turned the heat off. I think it was 10 degrees in there last week. At least they are cutting costs <g> Chrysler releases for our one good program are still zeroed all the way to March 29. That is just UFB. The model to not build any cars must be very profitable <g> GT TH

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