By on October 3, 2008

Now that Ford CEO Alan Mulally has written-off the chances of an auto industry sales receovery for 2009, his Detroit brethren have decided to join the Greek chorus bemoaning their fate. Bloomberg caught up with former Toyota and current Chrysler Prez Jim Press in Paris to hear the bad news. “I don’t see any `whys’ why it’s going to be any better,” Press announced. “We’re already adjusting to this level pretty well. We’re learning how to fight through it. It’s hand-to-hand combat. It’s tough.” Especially if you don’t have a golden parachute strapped to your back. GM’s Fritz Henderson, also not staying at a Timhotel, was slightly less pessimistic about the year ahead. “Even if [the $700b federal bailout plan] does pass, I still think that ’09 will be weaker,” the COO told Business Week. “I don’t see anything which would suggest that you’d see a significant rebound, at least in the first half.” And then Fritz says some scary ass shit. “If the situation deteriorates further, we’ll have to look at further actions, but we don’t have anything planned today.” And… “Henderson said GM’s liquidity plan was based on a forecast of industrywide U.S. car sales of 14 million this year and next. ‘At the time we felt that was a conservative level. Given what’s happened, I’m glad we chose a conservative level because that could well be the level it lands at.’ Uh, Dude, we’re looking at sales WELL under 13m, maybe closer to 12. To paraphrase Sweet Pete, that’s a spittoon full of not good.

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7 Comments on “ChryCo Prez Jim Press, GM COO Fritz Henderson: No Recovery ’til 2010...”


  • avatar
    Redbarchetta

    At the time we felt that was a conservative level.

    I said GM’s conservative estimates on the outlook of things was going to kill them. Along with all the other knives sticking out of their back. When you’re in the sh*t they are in you don’t plan conservatively you plan for absolute worst case senario and if it’s better its a bonus.

    If the situation deteriorates further, we’ll have to look at further actions, but we don’t have anything planned today.

    They are so dead they don’t plan for anything. Do they only plan for the next quarter of PR spin and getting more tax money? This is about the stage where advanced planning would come in handy or funeral preparations.

  • avatar
    netrun

    @Redbarchetta: Lol! You slay me.

  • avatar
    Ryan

    Sure, like these three ass clowns have a shred of noteworthiness. Jim Press proved his foolishness by taking over the reins of America’s weakest excuse of a car company. I am furious that my tax dollars went “help” Crapsler. I hope they go down via Chapter 7 in flames. Sorry pieces of garbage.

  • avatar
    menno

    That magical year 2010 again, eh?

  • avatar
    Redbarchetta

    2010 scary how so much seems to revolve around that date. Maybe the Mayan calander was off by 2 years.

    Ryan they haven’ gotten our money yet, they have to survive long enough for the money to hurdle over the EPA and land at their feet.

  • avatar
    mikey

    So RYAN: 30,000 maybe 50,000 folks on the unemployment line is gonn’a make your day?

    Really?How sad.

  • avatar
    bluecon

    The USA won’t be recovered from this economic mess by 2010. Everybody is going to be dragged into this economic downturn. You ain’t seen nothing yet. The $700 billion might slow things down but it won’t fix them.


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