By Matthew DeBord from The Big Money
The auto industry generates nothing these days that even remotely resembles good news. General Motors is teetering on the edge of official (as opposed to undeclared) bankruptcy. Chrysler is apparently being run by the Italians. The Detroit car business itself is conducting a dog and pony show for Washington’s auto task force against a background of Motown homes selling for a buck (which is just slightly less than Ford’s current share price). Even former stalwart profit machines like Toyota and BMW are struggling with declining sales and collapsed leasing offers.
