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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (516602)	9/28/2009 12:18:45 PM
From: tejek	Read Replies (1) \| Respond to of 1575981

GM May Boost Output of New Models By SHARON TERLEP General Motors Co. dealers are pushing the car maker to boost availability of some of its hottest-selling models, forcing the company to reconsider production plans for 2009. GM Vice Chairman Bob Lutz said Tuesday the car maker underestimated demand for a slate of new products that hit the market after its bankruptcy filing in June. The miscalculation was due primarily to the fact GM aimed to be overly cautious as it planned production volumes, and because its conversations with dealers earlier in the year led the company to expect softer demand than GM has seen in recent weeks. "We need to look at our plans," said Mr. Lutz, interviewed at a GM product launch in Plymouth, Mich. While stopping short of laying out specific additional production beyond plans GM announced last week, he said the auto maker may need to add a second plant for compact crossover-vehicle production beyond the facility it uses in Canada. GM also is looking to add workers to factories that are short-staffed, including at a crossover plant in Michigan. The Chevrolet Equinox crossover, Camaro sports car, Buick LaCrosse sedan and Cadillac SRX crossover are among new vehicles Mr. Lutz indicated are outpacing the company's initial forecast. "We are selling every Cadillac SRX, every Equinox, every Buick LaCrosse and every Camero within 48 hours of being delivered to us," said John Bergstrom, owner of several Wisconsin GM dealerships. "These products are home runs." GM has a 33-day supply of vehicles on dealer lots, down 45% from the beginning of August, according to Ward's Automotive Group. In trying to replenish the pipeline, GM executives say they will have to balance the outcry for more cars from dealers with the need to control supply so that it doesn't flood the market. The promising start for new models is a rare bright spot in what continues to be a dismal environment for both GM and most competitors. After the industry's short-term boost in July and August triggered by the government's "cash for clunkers" incentive program, most dealers and industry analysts, including Mr. Lutz, are projecting a return to historically low U.S. sales for the foreseeable future. "So far, September is weak and the month is not meeting anybody's expectations," Mr. Lutz said, predicting volumes for the industry will be below levels achieved in September 2008. Nevertheless, he said the market is showing signs of stabilization. Ford Motor Co. Chief Executive Alan Mulally said Tuesday his company expects the industry to sell 10.5 million to 11 million cars and light trucks in the U.S. this year, after running at an annual rate of less than 10 million in the first half. "Some people think we're being conservative," Mr. Mulally said in an interview. Ford has been gaining market share in recent months and posting sales increases. That GM's new products are finding a receptive audience underscores the company's strategy for responding to its widely criticized bankruptcy and government bailout. GM's U.S. market share has fallen by more than two points in 2009, and it is banking on a sweeping advertising campaign touting new, more fuel-efficient products and a 60-day money-back guarantee to stanch the decline. In Tuesday's interview Mr. Lutz gave specific figures on the company's demand miscalculations. GM, using dealer feedback, initially estimated it would need to build 7,700 Equinox crossovers in October, but dealers now want 29,000. It estimated it would need 3,600 Lacrosse sedans, but dealers have asked for 9,600. And dealers want 11,000 GMC Terrains, compared to the 4,300 GM estimated. "A lot of great things that were in [GM's] hopper are now coming out," said Karl Brauer, editor of consumer-research Web site Edmunds.com. "They're being consistently well received, which is what GM needs." —John D. Stoll contributed to this article. online.wsj.com

To: Road Walker who wrote (516602)	9/28/2009 12:26:42 PM
From: tejek	Read Replies (2) \| Respond to of 1575981

Apparently, things have really started to turn here. Pricey areas see big growth in home sales August home-sales figures show two higher-priced King County neighborhoods saw the biggest increases in sales. By Eric Pryne Seattle Times business reporter King County home sales continued their summer surge in August. And the latest numbers suggest the buyers aren't all cash-starved first-timers. Buyers closed on 5 percent more houses last month than in August 2008, the Northwest Multiple Listing Service reported Friday. It was the third consecutive monthly year-over-year increase, a bump many attribute to the new $8,000 federal tax credit for first-time buyers. But the neighborhood that saw the biggest jump in sales in August was West Bellevue/Medina, far beyond the means of most folks making their first forays into homeownership. The runner-up for the month, Queen Anne/Magnolia, also is no mecca for real-estate rookies. Brokers who work in those two neighborhoods say people with money, who held back when the economy was on the brink, are starting to buy houses again. "Americans forget very quickly," said Sam Konswa, owner of Queen Anne Real Estate. "The confidence level has just gone crazy on the up side." Single-family home closings in Queen Anne and Magnolia were up 74 percent in August from the same month in 2008, from 31 to 54, the listing service said. In West Bellevue/Medina — the priciest of the 30 areas into which the service divides the county — the increase was a whopping 169 percent, from 13 to 35. Together, the two high-end areas accounted for more than half the countywide increase. Pending sales — offers sellers have accepted that haven't yet closed — also were up both in those neighborhoods and countywide for the fifth consecutive month. But the median price of a King County house that closed in August was $375,000, down 11.6 percent year over year. Median fluctuated The median has fluctuated between $364,000 and $395,000 since January. Some real-estate professionals say it could drop further as banks put more foreclosed homes on the market. In Queen Anne and Magnolia, the median price of a house that sold in August was $573,000 — the highest in Seattle — but down from $599,000 a year earlier. In West Bellevue and Medina the drop was more dramatic, from $1.6 million to $915,000, the listing service said. Lower prices are one reason buyers are returning to the luxury-home market, said Ron Sparks, managing vice president of Coldwell Banker Bain, whose firm lists many high-priced homes. "The million-and-up market has really dramatically improved in the last 60 to 90 days," he said. Fewer sellers Prospective buyers in that price range aren't as concerned about job security as they were earlier this year, Sparks said. Their stock portfolios have bounced back from the depths of March. And it's easier for them to get financing at a low interest rate now. Inventory in West Bellevue/Medina has dropped from a five-year supply early this year to a 10-month supply now, Sparks said. On Queen Anne, Konswa said the market has an overabundance of buyers and not enough sellers. His small firm had 26 listings in January, he said; now it has just three. "I am now soliciting sellers for the first time," Konswa said. "Every time I get a call, it's 'I want to buy a house.' " Some buyers are finally taking the plunge after looking for more than a year, he said. Others are investing some of their recent stock-market gains in real estate. Countywide, single-family home inventory — the number of active listings — was down more than 20 percent in August from the same month last year. King County condos didn't fare as well as single-family homes in August. Buyers closed on 11.4 percent fewer units last month than in August 2008, the broker-owned listing service said. The median price, $252,250, was down 5.9 percent. In Snohomish County, the median price of a house that sold in August was $299,950, down 11.8 percent year over year. Closed sales were up 8.1 percent countywide — but in Southeast Snohomish County, the priciest area, the increase topped 30 percent. Eric Pryne: 206-464-2231 or epryne@seattletimes.com seattletimes.nwsource.com

To: Road Walker who wrote (516602)	9/28/2009 1:24:16 PM
From: Tenchusatsu	2 Recommendations Read Replies (2) \| Respond to of 1575981

RW, some updated figures on SS: apnews.myway.com SS is currently in a deficit and is projected to stay that way until 2012. After that, surpluses are projected to last until 2016. The "trust fund" is now projected to be exhausted at 2037. And even those projections may be optimistic: > "The thing to keep in mind is that it's unlikely we are going to pull out (of the recession) with a strong recovery," said Kent Smetters, an associate professor at the University of Pennsylvania's Wharton School. "These deficits may last longer than a year or two." But don't worry. Obama promised to hike taxes on all income above $250K by 12.5 percentage points. He'll get to that next year ... Tenchusatsu