<VV> China NO CORVAIR

[NicolCS at aol.com]

Profit??? Uh, just in case you haven't noticed, GM and Ford are drowning in  
a river of red ink.  GM is considering bankruptcy and Ford just brought in  a 
turnaround specialist who's taking Bill Ford's job.  Both have "junk"  bond 
status now.  ("Blue chip" when we were young)  They're not making  ANY profit. 
GM's earnings on large SUVs were carrying the whole company, and now  those 
sales are way down below the profit level.  Delphi is wavering  between a $2.5B 
GM buyback (which would sink GM to lose everything) or  bankruptcy.  Visteon 
tanked and is being bought back by Ford.   BTW the hourly cost (including 
bennies) for the average US autoworker is  $65/hr.
Craig Nicol

At least  two of the Big Three already have factories in China.    And  
according to what I've been told, they're making cars there already,  
for Pacific Rim and eastern Europe customers.    Shouldn't be  real 
hard to gear up to produce cars for the US markets... so somebody can  
pocket even more profit.


tony..