I work for a large tire manufacturing company and we have already had 3 ten day shutdown periods to reduce inventory. It sucks for the workers, who are already being sent home on a rotating basis due to lack of work, but it is a great opportunity for me to do my capital projects.
Yeah, it does suck. Sorry to hear it.
Congress likes to talk about the way the auto manufacturer’s ruined their business. They don’t mention that Congress screwed up the lending infrastructure and scared the s—t out the U.S. public.
Auto manufacturers are not responsible for the 45% drop in sales. Folks aren’t that unhappy with their cars. Folks are just scared to death to take on new debt. Fix Congress and our economy will get back on track by itself.
I will tell you how bad it is in the auto supplier business, we shutdown the whole corporate HQ last Friday and it is going to be shutdown till the 5th of Jan. We even put the IT and maintenance guys on holiday. Also, inventories were run dry and no January orders were filled at all.