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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: stomper who wrote (100595)	1/10/2009 2:27:17 PM
From: TH	2 Recommendations Read Replies (2) \| Respond to of 110194

stomper, Yes, Toledo and automotive fortunes go together, as well as most of Ohio. Of course we in Michigan are always keeping an eye on Toledo, after Michigan and Ohio had The Toledo War <g> I know of a very well known private supplier in Detroit that made vast fortunes for the owners and many of the employees that will probably be closing the doors within 60 days. After 45 years in the game, with 35 of those years as a powerhouse, they did not adapt or save for the storm. They are extremely volume dependent, as their model is that of essentially a middleman. Now with volumes this low, they have been cutting employees with decades of service just to survive another month. I'm having dinner tonight with people from this company, and I'm sure they will tell me that they know the date of the last day of business. In an interesting twist, they have lifted a ban on a form of "internal poaching", and have told select employees that they cut their own deals without repercussion. A classy move, IMO, but also a sign that there is no hope of survival for this organization. I'm considering listing my house for a song just to be in a position to leave when my contract expires next year. I figure in a year my house will be worth 20% less at a minimum. GT TH