This is a multi-part message in MIME format. ------=_NextPart_000_0017_01BE07FE.2D3E7C70 Ford chief predicts doom - Says 'dogfight' will kill all but six companies (Reuters) The auto industry is in a savage "global dogfight' that will speed consolidation and tumble some companies into failure, says Ford Motor Co. chairman Alex Trotman. In a speech yesterday to business executives, he predicted that of the 40 or so auto companies in existence, only six will survive into the next century, with two based in the United States, two in Europe and two in Japan. Current global overcapacity equal to 19 million vehicles a year will rise to 22 million by 2002, he said. "That's why I've been predicting for several years massive industry consolidation with mergers, acquisitions and outright failures." .... end I would have jumped at Michael's suggestion to discuss overcapacity, but as a non-economist, I'm reduced to little snapshots in the papers, such as this one. Anyone have any broader data??? I'm not an economist, but neither do you have to be a rocket scientist to figure out that the current financial crisis has something to do with the decline in productive investment outlets after the decline of the post war boom, and even if our glorious leaders succeed in managing the current crisis, there's more hard times ahead. ------=_NextPart_000_0017_01BE07FE.2D3E7C70 <!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN"> <HTML> <HEAD> http-equiv=3DContent-Type> <META content=3D'"MSHTML 4.72.2106.6"' name=3DGENERATOR> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT color=3D#000000 size=3D2>Ford chief predicts doom<SPAN=20 class=3D807445518-04111998><FONT color=3D#000000 face=3DArial size=3D2> = - Says=20 'dogfight' will kill all but six companies</FONT></SPAN></FONT></DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2></FONT></SPAN></FONT> </DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2>(Reuters) The auto industry is in = a savage=20 "global dogfight' that will speed consolidation and tumble some = companies=20 into failure, says Ford Motor Co. chairman Alex=20 Trotman.</FONT></SPAN></FONT></DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2></FONT></SPAN></FONT> </DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2>In a speech yesterday to business = executives, he=20 predicted that of the 40 or so auto companies in existence, only six = will=20 survive into the next century, with two based in the United States, two = in=20 Europe and two in Japan.</FONT></SPAN></FONT></DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2></FONT></SPAN></FONT> </DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2>Current global overcapacity equal = to 19 million=20 vehicles a year will rise to 22 million by 2002, he=20 said.</FONT></SPAN></FONT></DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2></FONT></SPAN></FONT> </DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2>"That's why I've been = predicting for=20 several years massive industry consolidation with mergers, acquisitions = and=20 outright failures."</FONT></SPAN></FONT></DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2></FONT></SPAN></FONT> </DIV> <DIV><FONT color=3D#000000 size=3D2><SPAN = class=3D807445518-04111998><FONT=20 color=3D#000000 face=3DArial size=3D2></FONT></SPAN></FONT><SPAN=20 class=3D807445518-04111998><FONT color=3D#000000 face=3DArial = size=3D2>...=20 end</FONT></SPAN></DIV> <DIV><SPAN class=3D807445518-04111998><FONT color=3D#000000 face=3DArial = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D807445518-04111998><FONT color=3D#000000 face=3DArial = size=3D2>I=20 would have jumped at Michael's suggestion to discuss overcapacity, but = as a=20 non-economist, I'm reduced to little snapshots in the papers, such as = this one.=20 Anyone have any broader data???</FONT></SPAN></DIV> <DIV><SPAN class=3D807445518-04111998><FONT color=3D#000000 face=3DArial = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D807445518-04111998><FONT color=3D#000000 face=3DArial = size=3D2>I'm=20 not an economist, but neither do you have to be a rocket scientist to = figure out=20 that the current financial crisis has something to do with the decline = in=20 productive investment outlets after the decline of the post war boom, = and even=20 if our glorious leaders succeed in managing the current crisis, there's = more=20 hard times ahead.</FONT></SPAN></DIV> <DIV> </DIV></BODY></HTML> ------=_NextPart_000_0017_01BE07FE.2D3E7C70--
[PEN-L:883] overcapacity - 'Ford chief predicts doom'
Robert Mac Diarmid Wed, 4 Nov 1998 14:19:47 -0500boundary="----=_NextPart_000_0017_01BE07FE.2D3E7C70"
