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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (171046)	12/12/2008 10:57:41 PM
From: ChanceIs	Read Replies (2) \| Respond to of 306849

CORRECT: Honda Announced Production Cuts Friday, Not Thursday Auto makers have been scrambling to adjust production because of the sales decline. On Friday, Honda Motor Co. (HMC) announced its fourth round of production cuts in North America, making its biggest output reduction of 119,000 units by the end of its fiscal year. (In "GM To Idle 30% Of Volume, Cut 1Q Production By 250,000 Units" published at 1:00 p.m. EST, the date of Honda's announcement was incorrect.) _______________________________________________________ Detroit hasn't offered a competitive value for years, so they are screwed. In fact they are doubly screwed because there is a global automotive glut....an epic automobile recession. I am not a Wall Street analyst assigned to the automobile sector. But when I see these global production cuts I don't need to think any more. A "bailout" of Detroit will just kick the can three months down the road. IF we bail them out for three years, then there might be something left alive after the smoke clears. Funny. That reminds me. 'The Iraq invasion will be over in three months at a cost of $60 billion dollars.' People bit*%ed that we didn't have an exit strategy. I haven't heard anybody asking about an exit strategy for Detroit. I have heard that it is just as bombed out as Baghdad.