Michigan economic gloom tied to autos - economist

Yahoo!Finance ^ | 8/23/2006 | Reuters

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CHICAGO, Aug 23 (Reuters) - The automotive sector in Michigan needs to stabilize before the state can shake off the economic doldrums that have dogged it in recent years, an economist said on Wednesday.

Dana Johnson, chief economist at Comerica Bank, said buyouts and layoffs that are part of major restructurings at big automotive companies such as General Motors (GM.N: Quote, Profile, Research), Ford Motor Co. (F.N: Quote, Profile, Research) and Delphi Corp. DPHIQ.PK> have created a sense of gloom in the state.

[eraser2005]

In other news, General Francissimo Franco is still dead...

[NativeNewYorker]

Michigan economic gloom tied to autos - economist

Pearl Harbor Attacked!

[SamAdams76]

Not going to happen. Auto plants are popping up all over Tennessee, Alabama, Mississippi, and other areas in the South. Non-union auto plants.

[softwarecreator]

Michigan economic gloom tied to autos - economist

It is???  And all this time I've been thinking it was tied to our bustling movie/television industry.

[sourcery]

[Wally_Kalbacken]

But they are developing some real talent in the graft industry in Detroit - someday that may break out and become big everywhere. Until then - they hone the craft in MoTown.

[madison10]

...and here I thought it was the gray, dismal winters.

[softwarecreator]

...and here I thought it was the gray, dismal winters.

Doesn't help though that's for sure.  I know some people just love MI winters ... I'm not one of them unfortunately.

[doug from upland]

I am extremely concerned when Chinese cars start hitting the market. They stole our designs and borrowed German engineers. They will undercut Detroit substantially. Unfortunately, people here will buy them.

Red Chinese will probably be the favorite color. Well, that and White Racism.

[Spktyr]

They stole a couple of our designs, mosly a Buick or two. More often they're stealing Euro or Japanese designs (they're not stupid.)

[quantim]

They will undercut Detroit substantially.

Detroit undercut itself long ago.

Autowise, 30 years ago.

Politicalwise, 30 years ago.

Unionwise, 30 years ago.

The good news is that in spite of all the union lib cancer here, we're getting a new (R) governor.  My state is NOT hopeless.

And why Lieberman in dinky CT is remotely news, is beyond me.

[doug from upland]

We wish your state well.

[MichiganCheese]

It's tied to our socialist Canadian Hillary that we have as Governor. Jenny's gotta go!

[apackof2]

we're getting a new (R) governor

And a new (R) senator also!

WOOHOO

[Sir Francis Dashwood]

I will get some flames for this, but...

Women don't balance checkbooks real good...

[Eccl 10:2]

"Women don't balance checkbooks real good..."

Pssst.

Here's a hint...

Men ain't real good at it either.

[Cobra64]

And why Lieberman in dinky CT is remotely news, is beyond me.

Because of the split and illustration of lack of loyalty within the Democrat party.

As for MI's primary industry, it cannot compete in a World market due to its arrogance and apathy.

Crap:

Cimarron

Catera

Vega

Chevette

Aztec

Vibe

Pinto

Maverick

Dumb Moves in Dropping:

Caprice

Firebird

Camaro

T-Bird

Lincoln Mark Series

Fiero

GTO

Barracuda

Challenger

442

Entire Olds division after Aurora technology (read racing)

Quality is crap. The South Koreans beginning to build better cars.

Staffing employee newspaper reading rooms instead of putting workers on assembly lines. The list is endless

There are any number of a dozen"car guys" here on FR that have more creativity than most of management in Detroit and Dearborn.

It's sad, but labor and management did their best to destroy the US automobile industry.

IMOHO

[California Patriot]

No duh.

[dk/coro]

Sam, a little story of four decades past might serve to put the current Michigan Auto Industry debacle into perspective:

In 1962 I placed our Navy family in our VW bus and drove from NAS Quonset Point to Flushing Michigan, to spend Christmas with my aunt and uncle. My uncle was the Plant Engineer of the large Fisher Body Plant, in nearby Flint.

Conversation around the dinner table one evening hit upon the wage negotiations ongoing at the time with the UAW.

It turned out that the common laborer "sweeper" in the Flint Plant was making (the equivalent of) $4.30/hr more than I was paid at the time -- as a Lcdr in the United States Navy, a carrier aviator and with a graduate degree.
And, that disparity included my flight pay as well. (lol)

Life does indeed come full circle -- if, in fact, one lives long enough! **S**

[quantim]

And a new (R) senator also!

Did you see this yet today?  Bouchard needs to put the cow out to pasture...

Stabenow maintains lead in U.S. Senate poll