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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (13385)	10/13/2004 12:23:49 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Ford cuts plant shifts tinyurl.com Snip.. Ford Motor Co. of Canada Ltd. has slashed output by half at its minivan plant in Oakville until the end of the year because of continuing sputtering demand for the Freestar and Mercury Monterey models. The auto giant confirmed yesterday it cut one of two shifts at the plant last week and it will operate that way at least until Dec. 24. The move represents a production cut of about 29,000 minivans at the plant, the only source of the models in the world. The 12-week reduction could be extended since Ford has not indicated when it will resume the afternoon shift. Ford normally does not disclose its production schedules until a few weeks before they occur. "It would be speculation to look beyond the fourth quarter," said Lauren More, manager of public affairs at Ford. "We have to look at the market and adjust production." Cutting the shift has affected about 3,600 employees who will take turns working two weeks on the day shift and then remaining off the job for the next two weeks. They will collect about 80 per cent of their gross pay while on layoff through a combination of contractual supplementary unemployment benefits and federal employment insurance.

To: Knighty Tin who wrote (13385)	10/13/2004 12:35:48 PM
From: mishedlo	Respond to of 116555

CEO confidence falls in Q3; second straight decline Wednesday, October 13, 2004 4:12:34 PM afxpress.com WASHINGTON (AFX) -- The nation's chief executives are less confident about the U.S. economy in the third quarter compared to the prior three months, according to a survey released Wednesday by the Conference Board. The survey, which asks a range of questions to nearly 100 chief executives in a wide range of industries, showed a decline to 63 from 70 in the second quarter. It's the second consecutive quarterly decline. A reading above 50 indicates more positive than negative responses "CEO confidence has slipped considerably over the past two quarters, as both current conditions and expectations have softened," said Lynn Franco, director of the Conference Board's Consumer Research Center. The Conference Board said roughly two-thirds of chief executives think current economic conditions have improved from the prior quarter, down from 90 percent in the second quarter And future prospects have weakened, the chief executives think. Roughly 55 percent of CEOs see better economic conditions in the next six months, down from 64 percent in the second quarter