Although we believe GM can reduce capacity and structural costs over the long term, the company will emerge from restructuring with lower earnings power and operating leverage. With a lower dividend, the costs of investing in this longer-term restructuring story have increased dramatically.
Too many times, you read too many instances where relationships develop and all of a sudden an officer is going to do something that's wrong on behalf of the inmates such as being in stuff he should not be having. We just wanted to cut that off before it even gets to that.
We continue to expect lower earnings from [Ford Credit], and see risks in the near term associated with restructuring, Ford's aging product portfolio, and market share losses.
There are well-documented structural impediments to moving quickly in this industry.
Ford will trail the industry in product age by third-quarter 2006. On average, Ford's product portfolio will be the oldest in the industry from fourth quarter of 2006 through the first half of 2008.
In our opinion, it went beyond what should have ever occurred.
It wasn't just friendship. It was detailing feelings toward each other. There was some sexual involved in the letters.
There are very few people that carry the credibility and insight into this industry that Jerry York does. They got an all-star.
They knew each other as children. He grew up in the same neighborhood. She ran into him here, and one thing lead to another.
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