Obama’s Lead Shrinking
Add comment October 29th, 2008
When all the other “pollsters” say his lead is growing, this poll, probably more accurate than the others, show his lead is actually shrinking…
Archive for October 29th, 2008
A Japanese Way to Cut Production, but not Workers
Add comment October 29th, 2008
Note the way Honda is reducing production in the U.K. but not reducing skilled employees. Story from the Guardian, U.K.
The gloom hanging over the car industry deepened yesterday when Honda announced a further cut in production at its Swindon plant.
It said it would curb output by an additional 10,000 vehicles between January and March next year. In September Honda said it was reducing production at Swindon, where it makes the CRV and three and five-door Civics, by 22,000 units.
Yesterday Honda said it had been forced into the extra curbs because “the global financial situation has continued to affect consumer confidence”.
The latest cuts came as Honda’s Japanese parent company warned that the global downturn meant annual profits would be lower than expected.
The cuts will reduce production at Swindon this fiscal year to 196,000 cars. Honda said it was not seeking job losses among its 4,800 workforce and that plans to start production of the Jazz model next year were not affected. Roger Maddison, national officer of Unite, said: “Honda is suffering the same as everybody else in the car business but they are not making layoffs, which is to be commended. Instead, they are holding on to skills and people for the time when the market turns up. We urge others in the sector to take a similar long-term view.”
One brighter note came from Ford in the UK, which said it would invest £70m at its Bridgend engine plant to produce next-generation low-emission 1.6-litre, four-cylinder petrol engine. Employment at Bridgend rose to more than 2,000 this year for the first time in its 28-year history. The new EcoBoost engines will go into production within two years.
Durable Goods Orders Unexpectedly Rise
Add comment October 29th, 2008
New orders for long-lasting manufactured goods rose unexpectedly in September by 0.8 percent, led by surging demand for defense goods and transportation equipment, the Commerce Department said on Wednesday.
The jump in orders for durable goods - items intended to last three years or more - followed a 5.5 percent drop in August, previously reported as a 4.8 percent decline.
Wall Street economists surveyed by Reuters had forecast a 1.2 percent decline in September orders.
Orders for defense capital goods increased 19.6 percent in September, the largest since December 2007, after increasing 8.4 percent in August.
Transportation orders jumped 6.3 percent, including a 3 percent gain for autos and auto parts — the biggest jump since July 2007.
Excluding transportation, September durables orders were down 1.1 percent after falling 4.1 percent in August.
Non-defense capital goods excluding aircraft, seen as a barometer of business spending plans, fell 1.4 percent after decreasing 2.2 percent in August.
(Reporting by Doug Palmer, Editing by Neil Stempleman) Washington, Reuters
