May auto sales were up almost 10% from their Feb. '09 low, and I would say that they have most likely hit bottom. This is consistent with a lot of other signs that demand is firming and in some cases rising. It's perhaps poetic justice that GM should enter bankruptcy and be taken over by the government just as the auto industry is getting back on its feet.
Tuesday, June 2, 2009
Auto sales appear to have hit bottom
May auto sales were up almost 10% from their Feb. '09 low, and I would say that they have most likely hit bottom. This is consistent with a lot of other signs that demand is firming and in some cases rising. It's perhaps poetic justice that GM should enter bankruptcy and be taken over by the government just as the auto industry is getting back on its feet.
I'm sure Messiah Motors will come roaring out of the gate led by proven captains of industry like Barack Obama, Tim Geithner, and 31 yr old law student Brian Deese.
ReplyDeleteUnbelievable! I thought Paul was kidding so I googled Brian Deese and this kid really is in charge of the GM restructuring even though he has NO business experience. I am simply astounded. Here is the NY Times story:
ReplyDeletehttp://www.nytimes.com/2009/06/01/business/01deese.html?_r=1&hpw
Bill,
ReplyDeleteJust imagine what they'd say if Bush did it. Instead, crickets...
Amazing--thanks for the info on this, I wasn't aware of it. Not encouraging.
ReplyDelete