Wednesday, December 17, 2008

(Non Union) Honda Sees 'No Prospect For Recovery'

Gee, didn't the Republicans and the media just try to convince us that auto union workers were the problem?

Explain this, then:

TOKYO, Japan (CNN) -- Honda has slashed its earnings forecast for 2008, citing "no prospect for recovery" in the midst of a global recession and slumping worldwide auto sales.
Fukui announces the company's all-new Accord model at a hotel in Tokyo on December 4.

Honda President and CEO Takeo Fukui told reporters on Wednesday that sales "declined rapidly" starting in the fall. The company also announced reduced forecasts for 2009 and matching production cuts "across all businesses."

"The situation is worsening by the day, and there is no prospect for recovery, is our understanding," Fukui told reporters.

Honda projects net income will tumble 69 percent for the year. Original revenue forecasts for 2008 were projected at 12.1 trillion yen ($130 billion) but have been reduced more than 13 percent to 10.4 trillion ($110 billion) -- eating into profits.

Buy American, y'all.

"For the great majority of mankind are satisfied with appearances, as though they were realities, and are often more influenced by the things that seem than by those that are."
-Niccolo Machiavelli (1469-1527)

Best bar bet in the world: Delilah didn't do it.
Judges 16:19-- and and


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