Financial Services & Recruiting academyrecruiting on 15 Jul 2008 12:00 pm
Who says the US automobile market is flat? Not VW.
Talk about counterpoint and irony…
You may have seen these two stories that both came out today - I know the juxtaposition really jumped at me:
GM to cut jobs, suspend dividend
Beleaguered automaker also plans asset sales, aiming for $10 billion in ‘cash improvements’ by 2009. CEO Wagoner says ‘difficult decisions’ necessary for survival.
By Aaron Smith, CNNMoney.com staff writer
July 15, 2008NEW YORK (CNNMoney.com) — General Motors Corp. said Tuesday it will suspend its dividend, sell off $4 billion to $7 billion worth of assets and cut 20% worth of salaried cash costs in an overall plan to save billions of dollars.
(Read more here.)
Volkswagen to build plant in Chattanooga
Tuesday, July 15, 2008
By: Mike PareVolkswagen AG will build its first United States assembly plant in Chattanooga, officials said today.
Europe’s biggest automaker said it will put a nearly $1 billion investment in Chattanooga’s Enterprise South Industrial Park.
The plant is expected to create 2,000 jobs. It is expected to open in 2011.
(Read more here.)
Classic example of the same economic conditions with vastly different responses from companies in the same industry to those conditions.
Just something to keep in mind in the midst of all the recession talk and economic gloom-and-doom - there are those who are not only doing well, but adapting and thriving.
Same thing applies to financial advisors, too.
