While the fatcat and/or fundamentalist Republicans are having their love-fest in New York City, this week, us working folk got some more bad news, a confirmation that our economy is not what the Administration is telling us. From the Detroit Free Press:
In another sign of a sluggish U.S. economy and slumping auto sales at General Motors Corp. and Ford Motor Co., the automakers said Wednesday they plan to slow down their plants the last three months of 2004 and make about 165,000 fewer cars and trucks than they did a year ago.I can't wait for this Republican convention to be over, so we, as a people, can re-focus our attentions on what is really happening around us!
Ford will build fewer vehicles in this fourth quarter than it has in any year since the recession year of 1991, auto analysts estimate. For GM, it will be the fewest vehicles built in a fourth quarter since 2001, the quarter after 9/11. . . .
This was the fourth straight month Ford reported lower auto sales while GM sales have been down or flat the last three months.
"We are doing this to production just to be cautious. The economy is definitely in a soft patch and clearly it's fallen off the growth pace of last year or even early this year," said George Pipas, Ford sales analysis manager. "We are certainly more cautious about the economy than we were three months ago. What we need to see is a resumption of job growth."
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