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Author Topic: Scary Post about Auto Companies  (Read 356 times)

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Offline sedetrad

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Scary Post about Auto Companies
« on: November 14, 2008, 01:09:58 PM »
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  • JUST WOW.. Thank you everyone for the well wishes, and I ask that those well wishes go out to EVERYONE on this board. There are so many people hurting right now and I don't think that just myself is deserving of all this good will and prayers.

    SO THE UPDATE:

    The news is both BAD and GOOD. The bad is what you are seeing splashed all over the worldwide news, only its even worse than that. The automotive sector is cratering big time and it is no longer just in North America. This slowdown is picking up speed in Europe and Asia as well and will start to affect all car producers and all down stream suppliers. Insurance is being pulled from Tier 1 and Tier 2 suppliers who deal with GM as in we can no longer sell to GM on credit(meaning 30 days to pay type credit!!). This is getting so bad so freaking quick.



    Offline sedetrad

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    Scary Post about Auto Companies
    « Reply #1 on: November 14, 2008, 01:10:44 PM »
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  • This came from an IT guy who works in the industry and is about to lose his job after he had a meeting with executives.

    http://www.doomers.us/forum2/index.php/topic,30806.90.html

    The DEPRESSION is coming.