Discussing the auto industry’s struggles due to the credit crunch, with Mike Jackson, AutoNation chairman/CEO
click for video
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. ~Jesse Livermore
According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week's record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May '08 and net longs in the Canadian$ rose to the highest since Nov '07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to...
read more »
November 12th, 2008 at 12:40 pm
Who whichever auto company goes BK first I’d buy from to support the US. I’m not happy with my Toyota.
November 12th, 2008 at 12:58 pm
I think the market is very close to out of sellers. With all funds on CNBC announcing heavy cash positions who’s left to sell?
This works well for my book but I think I’m onto something here.
November 12th, 2008 at 1:35 pm
Allocate “bailout” money to the “Pickens-Gore” plan for energy independence and infrastructure rebuilds. Give $25B to Tesla Motors and other startups. These industries will hire workers laid-off from other companies.
Don’t give our taxpayer money to the mismanagement morons in Detroit. “Give it” to ANYONE ELSE.
November 12th, 2008 at 2:08 pm
I’ve had Toyota’s for years, with no problems to speak of, except for the recalls (2 which didn’t cost me a thing). I have a T-100 that has 150,000 miles on it; same thing. This is the final nail that can be put in the union coffin if these legacy companies go bankrupt and break those contracts. The Big 3 didn’t care about pushing any designs that would help us in the future (limited petroleum resources cannot be denied), so why should they be bailed out now? This is a free market country that is becoming socialized and its a shame.