Our financial system is crumbling this week.

[Hungary Jack]

No one is in the mood to buy stocks today. But maybe we have hit bottom on the US housing market.

NEWS ALERT
from The Wall Street Journal

Oct. 24, 2008

U.S. home prices tumbled in September, bringing buyers back into the market. Existing-home sales climbed 5.5%, marking the highest level of activity in more than a year. The median home price was $191,600 in September, down 9.0% from a year ago and the lowest price since April 2004.

But it looks like the other shoe is dropping regarding other areas impacted by consumer credit. Chrysler plans to cut 25% of salaried (non-production) jobs. A friend of mine works in auto lending for Chase (to dealers). He says the situation is terrible for these guys.

[maddash]

No one is in the mood to buy stocks today. But maybe we have hit bottom on the US housing market.

NEWS ALERT
from The Wall Street Journal

Oct. 24, 2008

U.S. home prices tumbled in September, bringing buyers back into the market. Existing-home sales climbed 5.5%, marking the highest level of activity in more than a year. The median home price was $191,600 in September, down 9.0% from a year ago and the lowest price since April 2004.

But it looks like the other shoe is dropping regarding other areas impacted by consumer credit. Chrysler plans to cut 25% of salaried (non-production) jobs. A friend of mine works in auto lending for Chase (to dealers). He says the situation is terrible for these guys.

Chrysler will have enough of a problem getting credit to meet their own payroll, let alone the problem with their consumers getting credit. I'm fairly sure their sales have been increasing world-wide the last few quarters and they're still hemoraging money. They best hope they have is a GM merger or a government bailout.

It's a scary time for auto-dealers everywhere though. And their lenders.

[TimeForGuinness]

No one is in the mood to buy stocks today. But maybe we have hit bottom on the US housing market.

NEWS ALERT
from The Wall Street Journal

Oct. 24, 2008

U.S. home prices tumbled in September, bringing buyers back into the market. Existing-home sales climbed 5.5%, marking the highest level of activity in more than a year. The median home price was $191,600 in September, down 9.0% from a year ago and the lowest price since April 2004.

But it looks like the other shoe is dropping regarding other areas impacted by consumer credit. Chrysler plans to cut 25% of salaried (non-production) jobs. A friend of mine works in auto lending for Chase (to dealers). He says the situation is terrible for these guys.

Chrysler will have enough of a problem getting credit to meet their own payroll, let alone the problem with their consumers getting credit. I'm fairly sure their sales have been increasing world-wide the last few quarters and they're still hemoraging money. They best hope they have is a GM merger or a government bailout.

It's a scary time for auto-dealers everywhere though. And their lenders.

how can 2 failing auto companies that merge be a good thing?

i like ford's position better by selling off assets and trying to get smaller and leaner. i think they will be better positioned out of the big three.

[Popeye_Card]

i like ford's position better by selling off assets and trying to get smaller and leaner. i think they will be better positioned out of the big three.

Now they just have to overcome the obstacle of making POS vehicles. Ford's vehicle lineup, outside of the Escape Hybrid, does absolutely nothing for me.

[thrill]

i like ford's position better by selling off assets and trying to get smaller and leaner. i think they will be better positioned out of the big three.

Now they just have to overcome the obstacle of making POS vehicles. Ford's vehicle lineup, outside of the Escape Hybrid, does absolutely nothing for me.

Oh crap, I just got some drool on my new shirt.

[maddash]

No one is in the mood to buy stocks today. But maybe we have hit bottom on the US housing market.

NEWS ALERT
from The Wall Street Journal

Oct. 24, 2008

U.S. home prices tumbled in September, bringing buyers back into the market. Existing-home sales climbed 5.5%, marking the highest level of activity in more than a year. The median home price was $191,600 in September, down 9.0% from a year ago and the lowest price since April 2004.

But it looks like the other shoe is dropping regarding other areas impacted by consumer credit. Chrysler plans to cut 25% of salaried (non-production) jobs. A friend of mine works in auto lending for Chase (to dealers). He says the situation is terrible for these guys.

Chrysler will have enough of a problem getting credit to meet their own payroll, let alone the problem with their consumers getting credit. I'm fairly sure their sales have been increasing world-wide the last few quarters and they're still hemoraging money. They best hope they have is a GM merger or a government bailout.

It's a scary time for auto-dealers everywhere though. And their lenders.

how can 2 failing auto companies that merge be a good thing?

i like ford's position better by selling off assets and trying to get smaller and leaner. i think they will be better positioned out of the big three.

It's not, but I think GM is hoping that a deal would include government financing.

I agree, Ford is taking the right approach, but I don't see a great deal of optimism for them either. Their assets, like Mazda and Volvo, are about the only cars I'd buy from them, and those are the ones they'd probably need to sell off. In addition to the fact that many of Ford's chaises are from Mazda and Vovlo designs.

It's funny, my wife was really in the market for an Escape... until they redesigned into a much more masculine looking SUV. I mean, the interior dash now looks like a truck's, and the exterior is much bulkier. The Escape was, and should have remained, the target SUV for women. Why Ford made that change, I have no idea.

[TimeForGuinness]

It's not, but I think GM is hoping that a deal would include government financing.

I agree, Ford is taking the right approach, but I don't see a great deal of optimism for them either. Their assets, like Mazda and Volvo, are about the only cars I'd buy from them, and those are the ones they'd probably need to sell off. In addition to the fact that many of Ford's chaises are from Mazda and Vovlo designs.

It's funny, my wife was really in the market for an Escape... until they redesigned into a much more masculine looking SUV. I mean, the interior dash now looks like a truck's, and the exterior is much bulkier. The Escape was, and should have remained, the target SUV for women. Why Ford made that change, I have no idea.

I believe they are looking for a buyer of their Mazda assets, I haven't heard anything about Volvo.

As for the Escape, my guess is that the change was made to account for guys who want an SUV but want better gas mileage. I like the look of the new Escape, but then again, I'm a guy...so I'm biased.

[maddash]

It's not, but I think GM is hoping that a deal would include government financing.

I agree, Ford is taking the right approach, but I don't see a great deal of optimism for them either. Their assets, like Mazda and Volvo, are about the only cars I'd buy from them, and those are the ones they'd probably need to sell off. In addition to the fact that many of Ford's chaises are from Mazda and Vovlo designs.

It's funny, my wife was really in the market for an Escape... until they redesigned into a much more masculine looking SUV. I mean, the interior dash now looks like a truck's, and the exterior is much bulkier. The Escape was, and should have remained, the target SUV for women. Why Ford made that change, I have no idea.

I believe they are looking for a buyer of their Mazda assets, I haven't heard anything about Volvo.

Just rumors at this point - http://www.cnbc.com/id/18920742

[TimeForGuinness]

It's not, but I think GM is hoping that a deal would include government financing.

I agree, Ford is taking the right approach, but I don't see a great deal of optimism for them either. Their assets, like Mazda and Volvo, are about the only cars I'd buy from them, and those are the ones they'd probably need to sell off. In addition to the fact that many of Ford's chaises are from Mazda and Vovlo designs.

It's funny, my wife was really in the market for an Escape... until they redesigned into a much more masculine looking SUV. I mean, the interior dash now looks like a truck's, and the exterior is much bulkier. The Escape was, and should have remained, the target SUV for women. Why Ford made that change, I have no idea.

I believe they are looking for a buyer of their Mazda assets, I haven't heard anything about Volvo.

Just rumors at this point - http://www.cnbc.com/id/18920742

Thanks, I had not heard that yet.

[Dillagii]

DOW up close to 900 point in anticipation of rate cuts. It's false positive. It'll be back down later once the market realizes it doesn't help that much.