Thursday Snippets

For US visitors: Happy Turkey Day!

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For English visitors: C’mon Aussie!!!

The Ashes will be returning downunder.

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One of our Swedish lookouts, ctm, has emailed me a translation from a curious report circulating in his local newspaper today.

The report deals with a parts manufacturer that supplies parts for several Swedish companies, Volvo, Saab and Scania included. The news is they will layoff 25 people due to lower demand for parts next year.

ctm’s translation of the first part:

“- The reason [for the layoff] is that our main customer, Saab Automobile in Trollhättan, has reduced the volumes in a big way. During the fourth quarter this year there is a decrease of about 6,000 vehicles…”

“Furthermore, Saab lowers the sales volumes for next year to 119.596 vehicles. That can be compared to the prognosis of 134.000 vehicles.”

Very interesting. It could be that current orders are low, leading to a downgraded forecast. Perhaps there’s some uncertainty about where things are going to be made (though the Russelsheim move isn’t supposed to be until 2008, I thought).

Maybe the reporter’s got it wrong and it’s a downwards forecast in Cadillacs 😉

Whatever it is, it seems to fly contrary to recent reports of Jan-Ake Jonsson talking up the company’s future.

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4 Comments

  1. “Octogenarian Grump” …. hahahaha

    Actually with GM’s fortunes slowly but steadily improving, wouldn’t Kerkorian (Tracinda) *want* to hang on to their ownership % even longer and sell off when GM shares are higher than current price ? Am I just being a Gump ?

  2. Old Viagorian still has around 40 million shares or thereabouts so I don’t think he’ll be worried. He’ll still make penty as they continue to climb.

    I read with interest that his selloff coincided with an increased stake in a casino or something similar, so maybe the cash from one helped the other.

    Might have been a tax thing as well, depending on the purchase price of the shares sold.

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