Sunday, November 18, 2007

Latest sign of pending recession?

Three top auto-industry investors, including Kirk Kerkorian, are predicting a 15-year low in U.S. auto sales next year. The most optimistic of the three said sales might “only” slump to 1998 levels rather than 1993.

If oil stays anywhere above $80/bbl, let alone $90, I’m guessing almost all the bleeding would come from the trio of companies once known as the “Big Three,” rather than Japanese companies.