DC posts profit downgrade

Although still profitable overall, DaimlerChrysler has issued a
revised profit outlook for the third quarter, blaming
slower-than-expected North American sales, but will still end up on
the up side. Meanwhile, Ford and GM continue to hemorrage red ink.

Of interest are the "talking head" analyst who protray themselves as
automtive industry "experts" on Wall St. It's pretty obvious they
function mostly on misinformation, much like the telecom "experts" did
while still hyping AT&T stock as late as 1995. Not only that, but
history shows that Wall St. anaylst have around a 50% accuracy rating.
Shit...I can do as well with a fucking dart board.

Ford's currently at $8 a share, and has just about hit bottom, for
now, anyway, and two of the Ford North America top brass have followed
chief family rat Billy Boy out the door. However, I'm not convinced
that bringing in someone from Boeing, who was there when Boeing almost
tanked, is necessarily a smart move. GM, meanwhile, continues to
wallow in its incompetence with no end in sight. DC stock today
closed at $43-something and took a $3 hit due to the profit forecast
revision. DC at $43, Ford at $8, GM even worse...do the math.

DC will pass Ford in the '07-'08 timeframe as the #2 US automaker. I
remember when I turned down Chrysler at $2/share back in '79. I'll
never make THAT mistake again!

 

The $1.7 billion expected loss at Chrysler almost sinks DC.
Fortunately Mercedes is expected to make $2.1 billion, even with their
not so Smart losses.
(figures from Business Week)