Jon8503
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Fri Oct-29-04 05:50 AM
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Detroit Will Be Laying Off Thousands |
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Big Dealers Pressure Car Makers To Cut Production Higher Costs, Thin Margins Are Forcing Major Sellers To Keep Inventories Lean
By KAREN LUNDEGAARD Staff Reporter of THE WALL STREET JOURNAL October 29, 2004; Page A1
Detroit's post-Sept. 11 strategy of filling dealer lots with cars and clearing them out with big discounts is losing support among the constituency that once profited the most: car dealers.
Some of the nation's biggest auto-retailing groups, citing higher interest costs and thinner margins, in their new-car businesses, say they no longer will crowd their lots with slow-selling cars and trucks to help Detroit's auto makers avoid production cuts.
General Motors Corp. and Ford Motor Co. are already making plans to cut overtime or lay off temporarily thousands of workers to avoid a repeat of this summer's inventory glut. Industry executives expect even more cuts.
From the Wall Street Journal Which Is A Paid Subscription So Unable To Provide Link For Entire Story:
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fujiyama
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Fri Oct-29-04 05:51 AM
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1. And they say the state is in play |
Jon8503
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Fri Oct-29-04 05:56 AM
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SoCalDem
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Fri Oct-29-04 05:59 AM
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3. PEOPLE HAVE USED UP ALL THEIR HOME-EQUITY.. they're tapped out |
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That's what they have been using to buy-buy-buy.. They have not been fixing up their houses.. they have been buying gasoline, paying Visa & Mastercard,paying tuition,Christmas presents, and yes.. probably even food..
BUT.. the gravy train has left the station, and they are left on the platform..No more money....
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Rainbowreflect
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Fri Oct-29-04 07:06 AM
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4. And the downward spiral will just continue if people |
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are stupid enough to give bush their vote.
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baltodemvet
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Fri Oct-29-04 07:23 AM
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Edited on Fri Oct-29-04 07:23 AM by baltodemvet
Thanks for posting this! It should be the big story in the last three days: "More Bush Job Losses on the Way"!
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DU
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Wed May 08th 2024, 07:34 PM
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