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Implications of the economic melt down.

Publication: Automotive Design & Production
Publication Date: 01-NOV-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
By the time the ink is dry on this article, let alone by the time it is published, it is likely that there will be several more seismic shocks to the economic system and to the automotive industry. It is hard to believe anyone in the automotive industry could look at six months ago as "the good old days," but that is the world we are living in at the moment. Here is a brief recap of the key issues.

The Overview.

For the first time in over 25 years, every segment of the financial system--from traditional banks to investment banks, from private equity to hedge funds-has had major players liquidate or be forced to sell to a more stable competitor. In the past, these kind of economic dislocations were in other industry segments (e.g., automotive or retail) and the financial institutions had a chance to benefit from these changes. This time around, the institutions that provide the "fuel' to our economy are the ones that are in trouble.

Although this is...

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