Market Share of the Big 7
GM 21.1%
Toyota 18.2%
Ford 16.3%
Honda 10.2%
Chrysler 7.9%
Nissan 7.2%
Hyundai/Kia 6.4%
Source: Edmunds.com
(Ok, now does everyone see that chart above? Well who is on top AGAIN? Yes an American Car company. Even with all the things that have gone on with GM, the BK, the bad press, the Congress grilling them about not building cars people want...........YET, they are out selling everyone else, have the biggest market share, doing better every month (even with less dealers) and building cars that not only people want but that are SAFE. (read below) But ya know.....it never seems to make the main stream press and people continue to get the wrong perception.............Way to go GM and way to go America for buying American goods so the money stays in AMERICA.)
LIBOR rate still stable and low at .242 and Prime is still stable and low at 3.25
Oh ya....the DJIA up Again.......+203 and up over 10,0000 again.......watch for the "V" climb.
John Chambers ignited markets on Thursday. The Cisco CEO joined other leading firms like Apple, Amazon, Alcoa, Intel, and others by stating that, "the quarter was very strong. The recovery is gaining momentum." Earlier in the week, the institute for supply management speculated that the US GDP is likely now growing at an annualized rate of 4.5%. Chambers continued, "what we saw is a clear tipping point as our business continued to reflect strong sequential growth trends that meet or exceed expectations during normal economic times." Elsewhere on Thursday the US Labor Department said the output per hour of nonfarm workers rose at an annual rate of 9.5% in the quarter, more than four times the average productivity growth rate of the past quarter-century. When taken together with the second quarter's 6.9% rise, it was the strongest productivity growth rate over a six-month period since 1961. While unemployment remains high, initial claims for unemployment continue to fall and corporate profits have bounced back significantly from the strong downturn in Q1. As output keeps climbing, employment gains will follow shortly. Such large productivity gains are quite common at the end of deep recessions and the beginning of recoveries. A healthy pattern is that productivity grows first, then employment rises, and finally wages increase. It continues to be clear that this recovery will not be a jobless one. In fact on Thursday the government also reported that jobless claims dropped to a 10-month low raising speculation that the national unemployment rate has peaked will begin to fall as soon as next month. Employment gains have already sparked reasons for optimism in many states. As jobless rates continue to decrease nationally, almost all economic indicators will have turned positive: leading, coincident and lagging. And as we've published here since February (and as was witnessed on Thursday), the stock market will continue its move -- swift and steep.
DETROIT -- General Motors Co. is outperforming the targets set in its earnings viability plan outlined in April, CEO Fritz Henderson said today.
AIG (AIG) says it was profitable for the second straight quarter as its core insurance operations continue to stabilize after being bailed out by the government last year.
An expanding roster of heavyweight investors are betting that the economic recovery taking shape in the U.S. will be much stronger than is widely believed. The growing bullishness among major investors follows a wave of optimistic economic data that suggests prior views of muted recovery might be far too gloomy.
On Thursday, investment bank Societe General said that the U.S. economy is poised for a solid rebound after falling of a cliff last winter. Societe General's argument for a "classic" recovery -- one that tends to be as sharp as the drop is steep -- challenges the widely held assumption espoused by bond giant PIMCO, among others, that investors should brace for a "new normal" era of limping growth. PIMCO's Bill Gross has argued that any economic recovery would be heavily subdued under a "new normal" because of the unique obstacles this time around ranging from high unemployment to government regulation.
But while that view went largely unchallenged during the depths of the economic malaise, more big-name investors are now countering that the recovery will be just "normal." And given the sharp 6.4% plunge in gross domestic product during the first quarter of year, a strong rebound should follow if past economic cycles are indeed any guide.
On Wednesday, for example, investment banking giant Credit Suisse (CS) forecast that the benchmark S&P 500 index would hit 1,100 by the end of the year and 1,150 in 2010. In a research note, the company said that it expects a hiring boom as companies splurge on capital expenditures, thanks to the massive piles of cash sitting in their coffers. (Yup just more of the "V")
Rut Row Section:
TOKYO -- Toyota Motor Corp. pulled out of Formal One racing today, as it battles a second straight year of red ink and races to cut more than $9 billion in costs this year. Toyota follows Japanese rival Honda Motor Co. in quitting the sport. Honda announced at the end of last year that it would no longer race. Toyota will pull out at the end of the 2009 season, it said. The world's largest automaker is forecasting a $7.85 billion operating loss in the fiscal year ending March 31, 2010. Toyota raced in eight seasons since entering Formula One in 2002, but it exits without a single win.
(hummm, couldn't win eh? maybe check the floor mats or gas pedal.)
TOKYO -- A senior Toyota Motor Corp. executive denied allegations the automaker tried to sidestep engineering or design defects that led to its unprecedented safety recall of 3.8 million vehicles. Toyota Executive Vice President Yukitoshi Funo said the company is working closely with the National Highway Traffic Safety Administration to pinpoint the problem’s cause. “His comments came a day after NHTSA rebuked Toyota for issuing “inaccurate and misleading information” about the safety recall, which advised drivers to remove floor mats that may potentially jam underneath the gas pedal and cause unintended acceleration. A Toyota statement earlier this week said NHTSA found “no defect exists in vehicles with properly installed floor mats.” In fact, NHTSA said, Toyota vehicles have a “very serious defect.” The accelerator and floor design of the vehicles create “the potential for entrapment of the accelerator by floor mats,” said a statement by NHTSA. It said removing the floor mats is only an interim solution that does not correct the underlying defect. Funo said Toyota had “no disagreement on this issue.” “Basically, we are proceeding with discussions with NHTSA, and we expect to have an agreement as soon as possible about what we should do,” Funo said. ABC News broadcast interviews this week with a number of Toyota drivers who said their vehicles suddenly accelerated out of control even though their foot depressed the brake and not the gas pedal. ABC cited reports of 16 acceleration-related deaths and more than 200 accidents. The floor mat recall, Toyota’s largest ever in the United States, was prompted by an Aug. 28 accident involving a runaway Lexus ES 350 in San Diego that killed four people. The company said last week it would begin sending letters to owners urging them to remove the floor mats from their cars while the company considers what to do to curb unintended acceleration problems. Funo said Toyota is still investigating the cause and looking beyond the floor mats. Said Funo: “Certainly, we are talking about the floor mats -- but at the same time, the vehicle side, too.” (Becareful what you drive..........Go American baby)
Quote for the day:
"Sometimes, struggles are exactly what we need in our life. If we were to go through life without any obstacles, we would be crippled. We would not be as strong as what we could have been. Give every opportunity a chance, leave no room for regrets." -Author unknown
Hey............Have a Great day and a great start to a wonderful weekend.
sy
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