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Old 01-08-2006, 08:01   #1 (permalink)
Grover C. McCoury III
Guest
 
Posts: n/a
S&P moves Ford deeper into junk

Auto manufacturer's ability to generate cash flow may determine likelihood
of another downgrade.

January 6, 2006

NEW YORK (Reuters) - Standard & Poor's slashed its ratings on Ford Motor Co.
deeper into junk territory Thursday, citing a slide in market share and
doubts about the auto manufacturer's ability to turn around its North
American auto operations.

S&P also cut its ratings on Ford's finance arm, Ford Motor Credit, deeper
into speculative grade. Most of Ford's $142 billion of consolidated debt is
issued by Ford Credit.

The downgrade came a day after Ford reported a 9 percent drop in December
sales, hurt by steep declines in sport utility vehicles. For the year,
Ford's sales were down 4.4 percent.

Ford has seen its profit margins squeezed by fierce competition from foreign
rivals and a slowdown in sales of large SUVs due to high gasoline prices.

Turmoil at General Motors Corp.also could become a "huge problem" for Ford
if GM ever files for bankruptcy protection, S&P analyst Scott Sprinzen said
on a conference call.

"If GM got all the benefits of a Chapter 11, that would leave Ford in a
situation that certainly couldn't be stable," Sprinzen said.

Cash flow key to rating
Ford is expected to unveil a major restructuring plan Jan. 23, including
plant closings and job cuts, but even that might not be adequate to
stabilize the company if GM were to file for bankruptcy, Sprinzen said.

GM is not in immediate danger of a bankruptcy, Sprinzen added, although he
had previously said a bankruptcy is not "far-fetched" if present trends
persist. GM has denied speculation that it would seek Chapter 11 protection.

"We remain committed to accelerating our business plan," Ford spokeswoman
Becky Sanch says. "We'll have more to say about our plan on Jan. 23 and
can't comment further at this time."

GM's troubles have already spilled over because Ford has been forced to
match the sales incentives GM offered last year, S&P analyst Robert Schulz
said.

S&P cut its ratings on Ford and Ford Credit by two notches to "BB-minus,"
the third-highest junk rating, from "BB-plus." The outlook is negative,
meaning another downgrade is likely during the next two years.

Ford's ability to generate cash flow may decide whether it gets hit with
another downgrade, S&P said.

"Ford would need to reverse its current financial and operational trends,
and sustain such a reversal, before we would revise its outlook to stable,"
S&P said.

Bonds shrug off rating
The downgrade was widely anticipated by the credit market. Ford's bonds were
little changed on the news after being modestly higher in price all morning,
along with the broader market.

Ford's 7.45 percent bonds due in 2031 traded at 70.5 cents on the dollar,
unchanged on the day, according to MarketAxess. Those bonds have lost about
30 percent of their value during the past 12 months.

Ford's shares rose 34 cents, or 4.24 percent, to $8.35 on the New York Stock
Exchange.

The credit derivatives market, which moves rapidly on news, did not react to
the downgrade. Five-year default protection on Ford debt was quoted around
945 basis points, about 15 basis points tighter.

Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
http://community.webshots.com/album/18644819fHAehGJAjt


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Old 01-08-2006, 12:01   #2 (permalink)
CobraJet
Guest
 
Posts: n/a
Re: S&P moves Ford deeper into junk

In article <jbWdnTnV08hlt1zenZ2dnUVZ_s-dnZ2d@adelphia.com>, Grover C.
McCoury III <gcmccoury@yahoo.com> wrote:

> Auto manufacturer's ability to generate cash flow may determine likelihood
> of another downgrade.
>
> January 6, 2006
>
> NEW YORK (Reuters) - Standard & Poor's slashed its ratings on Ford Motor Co.
> deeper into junk territory Thursday, citing a slide in market share and
> doubts about the auto manufacturer's ability to turn around its North
> American auto operations.
>
> S&P also cut its ratings on Ford's finance arm, Ford Motor Credit, deeper
> into speculative grade. Most of Ford's $142 billion of consolidated debt is
> issued by Ford Credit.
>
> The downgrade came a day after Ford reported a 9 percent drop in December
> sales, hurt by steep declines in sport utility vehicles. For the year,
> Ford's sales were down 4.4 percent.
>
> Ford has seen its profit margins squeezed by fierce competition from foreign
> rivals and a slowdown in sales of large SUVs due to high gasoline prices.
>
> Turmoil at General Motors Corp.also could become a "huge problem" for Ford
> if GM ever files for bankruptcy protection, S&P analyst Scott Sprinzen said
> on a conference call.
>
> "If GM got all the benefits of a Chapter 11, that would leave Ford in a
> situation that certainly couldn't be stable," Sprinzen said.
>
> Cash flow key to rating
> Ford is expected to unveil a major restructuring plan Jan. 23, including
> plant closings and job cuts, but even that might not be adequate to
> stabilize the company if GM were to file for bankruptcy, Sprinzen said.
>
> GM is not in immediate danger of a bankruptcy, Sprinzen added, although he
> had previously said a bankruptcy is not "far-fetched" if present trends
> persist. GM has denied speculation that it would seek Chapter 11 protection.
>
> "We remain committed to accelerating our business plan," Ford spokeswoman
> Becky Sanch says. "We'll have more to say about our plan on Jan. 23 and
> can't comment further at this time."
>
> GM's troubles have already spilled over because Ford has been forced to
> match the sales incentives GM offered last year, S&P analyst Robert Schulz
> said.
>
> S&P cut its ratings on Ford and Ford Credit by two notches to "BB-minus,"
> the third-highest junk rating, from "BB-plus." The outlook is negative,
> meaning another downgrade is likely during the next two years.
>
> Ford's ability to generate cash flow may decide whether it gets hit with
> another downgrade, S&P said.
>
> "Ford would need to reverse its current financial and operational trends,
> and sustain such a reversal, before we would revise its outlook to stable,"
> S&P said.
>
> Bonds shrug off rating
> The downgrade was widely anticipated by the credit market. Ford's bonds were
> little changed on the news after being modestly higher in price all morning,
> along with the broader market.
>
> Ford's 7.45 percent bonds due in 2031 traded at 70.5 cents on the dollar,
> unchanged on the day, according to MarketAxess. Those bonds have lost about
> 30 percent of their value during the past 12 months.
>
> Ford's shares rose 34 cents, or 4.24 percent, to $8.35 on the New York Stock
> Exchange.
>
> The credit derivatives market, which moves rapidly on news, did not react to
> the downgrade. Five-year default protection on Ford debt was quoted around
> 945 basis points, about 15 basis points tighter.
>
> Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
> http://community.webshots.com/album/18644819fHAehGJAjt
>
>


As usual, I have the answer. The government needs to tack on a
$5,000 fee onto every vehicle produced by a foreign-owned company that
is sold in the U.S. The gov then takes a 20% cut to line the pockets of
the elected thieves that are getting spiffed by the intruders, and
forwards the rest to Ford and GM on the condition that prices of their
new vehicles stay fixed for the next ten years. If the foreigners
complain, boot 'em out of the country, and good riddance.

Do people forget that the economy and the overall optimism of the
general public were great "just" having four domestic auto producers?
Do we *need* to have a choice amongst 500 different name badges that
all look the same?

I don't tink so.

--
Spokesmodel for Arrogant Bastard Ale
  Reply With Quote
Old 01-08-2006, 15:01   #3 (permalink)
David M
Guest
 
Posts: n/a
Re: S&P moves Ford deeper into junk

On Sun, 08 Jan 2006 19:04:47 +0000, CobraJet rearranged some electrons to
form:

> In article <jbWdnTnV08hlt1zenZ2dnUVZ_s-dnZ2d@adelphia.com>, Grover C.
> McCoury III <gcmccoury@yahoo.com> wrote:
>
>> Auto manufacturer's ability to generate cash flow may determine likelihood
>> of another downgrade.
>>
>> January 6, 2006
>>
>> NEW YORK (Reuters) - Standard & Poor's slashed its ratings on Ford Motor Co.
>> deeper into junk territory Thursday, citing a slide in market share and
>> doubts about the auto manufacturer's ability to turn around its North
>> American auto operations.
>>
>> S&P also cut its ratings on Ford's finance arm, Ford Motor Credit, deeper
>> into speculative grade. Most of Ford's $142 billion of consolidated debt is
>> issued by Ford Credit.
>>
>> The downgrade came a day after Ford reported a 9 percent drop in December
>> sales, hurt by steep declines in sport utility vehicles. For the year,
>> Ford's sales were down 4.4 percent.
>>
>> Ford has seen its profit margins squeezed by fierce competition from foreign
>> rivals and a slowdown in sales of large SUVs due to high gasoline prices.
>>
>> Turmoil at General Motors Corp.also could become a "huge problem" for Ford
>> if GM ever files for bankruptcy protection, S&P analyst Scott Sprinzen said
>> on a conference call.
>>
>> "If GM got all the benefits of a Chapter 11, that would leave Ford in a
>> situation that certainly couldn't be stable," Sprinzen said.
>>
>> Cash flow key to rating
>> Ford is expected to unveil a major restructuring plan Jan. 23, including
>> plant closings and job cuts, but even that might not be adequate to
>> stabilize the company if GM were to file for bankruptcy, Sprinzen said.
>>
>> GM is not in immediate danger of a bankruptcy, Sprinzen added, although he
>> had previously said a bankruptcy is not "far-fetched" if present trends
>> persist. GM has denied speculation that it would seek Chapter 11 protection.
>>
>> "We remain committed to accelerating our business plan," Ford spokeswoman
>> Becky Sanch says. "We'll have more to say about our plan on Jan. 23 and
>> can't comment further at this time."
>>
>> GM's troubles have already spilled over because Ford has been forced to
>> match the sales incentives GM offered last year, S&P analyst Robert Schulz
>> said.
>>
>> S&P cut its ratings on Ford and Ford Credit by two notches to "BB-minus,"
>> the third-highest junk rating, from "BB-plus." The outlook is negative,
>> meaning another downgrade is likely during the next two years.
>>
>> Ford's ability to generate cash flow may decide whether it gets hit with
>> another downgrade, S&P said.
>>
>> "Ford would need to reverse its current financial and operational trends,
>> and sustain such a reversal, before we would revise its outlook to stable,"
>> S&P said.
>>
>> Bonds shrug off rating
>> The downgrade was widely anticipated by the credit market. Ford's bonds were
>> little changed on the news after being modestly higher in price all morning,
>> along with the broader market.
>>
>> Ford's 7.45 percent bonds due in 2031 traded at 70.5 cents on the dollar,
>> unchanged on the day, according to MarketAxess. Those bonds have lost about
>> 30 percent of their value during the past 12 months.
>>
>> Ford's shares rose 34 cents, or 4.24 percent, to $8.35 on the New York Stock
>> Exchange.
>>
>> The credit derivatives market, which moves rapidly on news, did not react to
>> the downgrade. Five-year default protection on Ford debt was quoted around
>> 945 basis points, about 15 basis points tighter.
>>
>> Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
>> http://community.webshots.com/album/18644819fHAehGJAjt
>>
>>

>
> As usual, I have the answer. The government needs to tack on a
> $5,000 fee onto every vehicle produced by a foreign-owned company that
> is sold in the U.S. The gov then takes a 20% cut to line the pockets of
> the elected thieves that are getting spiffed by the intruders, and
> forwards the rest to Ford and GM on the condition that prices of their
> new vehicles stay fixed for the next ten years. If the foreigners
> complain, boot 'em out of the country, and good riddance.
>
> Do people forget that the economy and the overall optimism of the
> general public were great "just" having four domestic auto producers?
> Do we *need* to have a choice amongst 500 different name badges that
> all look the same?
>
> I don't tink so.



As long as people complain about the economy being bad,
whilst loading their carts up with Vietnamese and Chinese-
made goods at Wal-Mart, things won't get any better.

Will Chinese-built cars sold in the Wal-Mart auto
department be in our future?

http://edition.cnn.com/2005/BUSINESS....economy.reut/


--
David M (dmacchiarolo)
http://home.triad.rr.com/redsled
T/S 53
sled351 Linux 2.4.18-14 has been up 5 days 10:57

  Reply With Quote
Old 01-08-2006, 16:01   #4 (permalink)
CobraJet
Guest
 
Posts: n/a
Re: S&P moves Ford deeper into junk

In article <pan.2006.01.08.21.52.46.645640@sled351>, David M
<NOSPAM@nospam.com> wrote:

> On Sun, 08 Jan 2006 19:04:47 +0000, CobraJet rearranged some electrons to
> form:
>
> > In article <jbWdnTnV08hlt1zenZ2dnUVZ_s-dnZ2d@adelphia.com>, Grover C.
> > McCoury III <gcmccoury@yahoo.com> wrote:
> >
> >> Auto manufacturer's ability to generate cash flow may determine likelihood
> >> of another downgrade.
> >>
> >> January 6, 2006
> >>
> >> NEW YORK (Reuters) - Standard & Poor's slashed its ratings on Ford Motor
> >> Co.
> >> deeper into junk territory Thursday, citing a slide in market share and
> >> doubts about the auto manufacturer's ability to turn around its North
> >> American auto operations.
> >>
> >> S&P also cut its ratings on Ford's finance arm, Ford Motor Credit, deeper
> >> into speculative grade. Most of Ford's $142 billion of consolidated debt is
> >> issued by Ford Credit.
> >>
> >> The downgrade came a day after Ford reported a 9 percent drop in December
> >> sales, hurt by steep declines in sport utility vehicles. For the year,
> >> Ford's sales were down 4.4 percent.
> >>
> >> Ford has seen its profit margins squeezed by fierce competition from
> >> foreign
> >> rivals and a slowdown in sales of large SUVs due to high gasoline prices.
> >>
> >> Turmoil at General Motors Corp.also could become a "huge problem" for Ford
> >> if GM ever files for bankruptcy protection, S&P analyst Scott Sprinzen said
> >> on a conference call.
> >>
> >> "If GM got all the benefits of a Chapter 11, that would leave Ford in a
> >> situation that certainly couldn't be stable," Sprinzen said.
> >>
> >> Cash flow key to rating
> >> Ford is expected to unveil a major restructuring plan Jan. 23, including
> >> plant closings and job cuts, but even that might not be adequate to
> >> stabilize the company if GM were to file for bankruptcy, Sprinzen said.
> >>
> >> GM is not in immediate danger of a bankruptcy, Sprinzen added, although he
> >> had previously said a bankruptcy is not "far-fetched" if present trends
> >> persist. GM has denied speculation that it would seek Chapter 11
> >> protection.
> >>
> >> "We remain committed to accelerating our business plan," Ford spokeswoman
> >> Becky Sanch says. "We'll have more to say about our plan on Jan. 23 and
> >> can't comment further at this time."
> >>
> >> GM's troubles have already spilled over because Ford has been forced to
> >> match the sales incentives GM offered last year, S&P analyst Robert Schulz
> >> said.
> >>
> >> S&P cut its ratings on Ford and Ford Credit by two notches to "BB-minus,"
> >> the third-highest junk rating, from "BB-plus." The outlook is negative,
> >> meaning another downgrade is likely during the next two years.
> >>
> >> Ford's ability to generate cash flow may decide whether it gets hit with
> >> another downgrade, S&P said.
> >>
> >> "Ford would need to reverse its current financial and operational trends,
> >> and sustain such a reversal, before we would revise its outlook to stable,"
> >> S&P said.
> >>
> >> Bonds shrug off rating
> >> The downgrade was widely anticipated by the credit market. Ford's bonds
> >> were
> >> little changed on the news after being modestly higher in price all
> >> morning,
> >> along with the broader market.
> >>
> >> Ford's 7.45 percent bonds due in 2031 traded at 70.5 cents on the dollar,
> >> unchanged on the day, according to MarketAxess. Those bonds have lost about
> >> 30 percent of their value during the past 12 months.
> >>
> >> Ford's shares rose 34 cents, or 4.24 percent, to $8.35 on the New York
> >> Stock
> >> Exchange.
> >>
> >> The credit derivatives market, which moves rapidly on news, did not react
> >> to
> >> the downgrade. Five-year default protection on Ford debt was quoted around
> >> 945 basis points, about 15 basis points tighter.
> >>
> >> Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
> >> http://community.webshots.com/album/18644819fHAehGJAjt
> >>
> >>

> >
> > As usual, I have the answer. The government needs to tack on a
> > $5,000 fee onto every vehicle produced by a foreign-owned company that
> > is sold in the U.S. The gov then takes a 20% cut to line the pockets of
> > the elected thieves that are getting spiffed by the intruders, and
> > forwards the rest to Ford and GM on the condition that prices of their
> > new vehicles stay fixed for the next ten years. If the foreigners
> > complain, boot 'em out of the country, and good riddance.
> >
> > Do people forget that the economy and the overall optimism of the
> > general public were great "just" having four domestic auto producers?
> > Do we *need* to have a choice amongst 500 different name badges that
> > all look the same?
> >
> > I don't tink so.

>
>
> As long as people complain about the economy being bad,
> whilst loading their carts up with Vietnamese and Chinese-
> made goods at Wal-Mart, things won't get any better.


By the same token, shopping at WalMart doesn't mean you are
supporting the Asian market. I shop there. I buy the exact same brands
of food or tools or what have you that my local non-Wally stores have,
only for some 30 percent less. Perhaps some appliances or soft goods
are imported, but the amount of money I spend on those is next to
nothing in comparison.

The question is really, "Why do the local supermarket and hardware
stores mark up their profits so high, and then complain that WalMart is
kicking their asses?"

Gee, I wonder if *they* might have helped contribute to the
ridiculous notion that everything WalMart sells comes from China. I'd
love to source out the tool and hardware SKU's at Sears and see what
happens.

People have the right to spend 30 percent more for the same things
by shopping elsewhere. I just don't want to hear them bitch about
coming up short for other things afterwards.

CobraJet
>
> Will Chinese-built cars sold in the Wal-Mart auto
> department be in our future?
>
> http://edition.cnn.com/2005/BUSINESS....economy.reut/


--
Spokesmodel for Arrogant Bastard Ale
  Reply With Quote
Old 01-08-2006, 20:01   #5 (permalink)
David M
Guest
 
Posts: n/a
OT: Re: S&P moves Ford deeper into junk

On Sun, 08 Jan 2006 23:46:55 +0000, CobraJet rearranged some electrons to
form:


> By the same token, shopping at WalMart doesn't mean you are
> supporting the Asian market. I shop there. I buy the exact same brands
> of food or tools or what have you that my local non-Wally stores have,
> only for some 30 percent less. Perhaps some appliances or soft goods
> are imported, but the amount of money I spend on those is next to
> nothing in comparison.


True, food usually isn't imported.
However I would bet that all of the tools at WalMart are sourced in Asia.

I like Harbor Freight Tools and Northern Hydraulics as much as
the next person, but almost all of their stuff is Asian.

> Gee, I wonder if *they* might have helped contribute to the
> ridiculous notion that everything WalMart sells comes from China. I'd
> love to source out the tool and hardware SKU's at Sears and see what
> happens.


Wal-Mart alone accounts for about 10 per cent of
the China's total exports to the US. Now that is staggering.

Craftsmen tools (at least the hand tools) are made in the US.
http://www.sears.com/sr/craftsman/wh..._madeinUSA.jsp

Don't get me wrong, I'm not anti-Wal-Mart. I probably go there
twice a week. I would buy things like clothes if they were made
in the US, but that industry is pretty much dead here, so even
if you wanted to buy US, you can't find it anymore.

It's just that no matter what we do, we're all slowly being taken
over by Asia.

Who are the biggest foriegn holders of US treasury securities?
http://www.treas.gov/tic/mfh.txt

Scary ain't it?



--
David M (dmacchiarolo)
http://home.triad.rr.com/redsled
T/S 53
sled351 Linux 2.4.18-14 has been up 5 days 16:13

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Old 01-08-2006, 23:01   #6 (permalink)
Big Al
Guest
 
Posts: n/a
Re: S&P moves Ford deeper into junk


"David M" <NOSPAM@nospam.com> wrote in message
news:pan.2006.01.08.21.52.46.645640@sled351...
> As long as people complain about the economy being bad,
> whilst loading their carts up with Vietnamese and Chinese-
> made goods at Wal-Mart, things won't get any better.
>
> Will Chinese-built cars sold in the Wal-Mart auto
> department be in our future?
>
> http://edition.cnn.com/2005/BUSINESS....economy.reut/
>
>


We are exporting our standard of living. And doing it about as fast as we
can. Some countries are close to not accepting US currency. What does that
tell us?

Al


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Old 01-09-2006, 17:01   #7 (permalink)
CobraJet
Guest
 
Posts: n/a
Re: S&P moves Ford deeper into junk

In article <i9nwf.91$C1.8587@news.uswest.net>, Big Al <sal1@qwest.net>
wrote:

> "David M" <NOSPAM@nospam.com> wrote in message
> news:pan.2006.01.08.21.52.46.645640@sled351...
> > As long as people complain about the economy being bad,
> > whilst loading their carts up with Vietnamese and Chinese-
> > made goods at Wal-Mart, things won't get any better.
> >
> > Will Chinese-built cars sold in the Wal-Mart auto
> > department be in our future?
> >
> > http://edition.cnn.com/2005/BUSINESS....economy.reut/
> >
> >

>
> We are exporting our standard of living. And doing it about as fast as we
> can. Some countries are close to not accepting US currency. What does that
> tell us?
>
> Al
>
>


It means we are ****ed, we need to be buying Chinese currency, and I
have to find a Mandarin language CD on Ebay. I think our youngest
generation better start learning how to build railroads and dry clean
clothing.

"Chop chop, round eye!!"

--
Spokesmodel for Arrogant Bastard Ale
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Old 01-09-2006, 17:01   #8 (permalink)
CobraJet
Guest
 
Posts: n/a
Re: OT: Re: S&P moves Ford deeper into junk

In article <pan.2006.01.09.03.37.27.908095@sled351>, David M
<NOSPAM@nospam.com> wrote:

> On Sun, 08 Jan 2006 23:46:55 +0000, CobraJet rearranged some electrons to
> form:
>
>
> > By the same token, shopping at WalMart doesn't mean you are
> > supporting the Asian market. I shop there. I buy the exact same brands
> > of food or tools or what have you that my local non-Wally stores have,
> > only for some 30 percent less. Perhaps some appliances or soft goods
> > are imported, but the amount of money I spend on those is next to
> > nothing in comparison.

>
> True, food usually isn't imported.
> However I would bet that all of the tools at WalMart are sourced in Asia.


Well, it's the same Stanley and Black & Decker and Dremel and
Campbell and Hausfield that Home Depot and such has. At least it's
cheaper.

>
> I like Harbor Freight Tools and Northern Hydraulics as much as
> the next person, but almost all of their stuff is Asian.


Yeah, I love the Chicago Pneumatic brand stuff. I wonder where
"Chicago" is in China.

>
> > Gee, I wonder if *they* might have helped contribute to the
> > ridiculous notion that everything WalMart sells comes from China. I'd
> > love to source out the tool and hardware SKU's at Sears and see what
> > happens.

>
> Wal-Mart alone accounts for about 10 per cent of
> the China's total exports to the US. Now that is staggering.
>
> Craftsmen tools (at least the hand tools) are made in the US.
> http://www.sears.com/sr/craftsman/wh..._madeinUSA.jsp
>
> Don't get me wrong, I'm not anti-Wal-Mart. I probably go there
> twice a week. I would buy things like clothes if they were made
> in the US, but that industry is pretty much dead here, so even
> if you wanted to buy US, you can't find it anymore.


Please don't tell me Hanes and Levi's are made in China.

>
> It's just that no matter what we do, we're all slowly being taken
> over by Asia.
>
> Who are the biggest foriegn holders of US treasury securities?
> http://www.treas.gov/tic/mfh.txt
>
> Scary ain't it?


Yes. I envy the guys in their 70's and 80's that are ready to kick
the bucket. I sure don't wanna see what happens.

The part that really pisses me off is that the a-holes who profited
from the piecemeal selloff of this country will get off scot free and
retire anywhere they want in the lap of luxury.

Hmm, I wonder how much serving wenches are in China?

Years ago I had a friend who bailed out to avoid the Big Heat and
moved to an American enclave near or in Cancun. I haven't talked to him
in a while, but he was happy over the move. I heard that the law was
changed about non-Mexican nationals being able to actually own land
down there. If so, that might eventually be a game plan.

CobraJet

--
Spokesmodel for Arrogant Bastard Ale
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Old 01-09-2006, 17:01   #9 (permalink)
David M
Guest
 
Posts: n/a
Re: OT: Re: S&P moves Ford deeper into junk

On Tue, 10 Jan 2006 00:13:52 +0000, CobraJet rearranged some electrons to
form:
>
> Please don't tell me Hanes and Levi's are made in China.


Not quite, at least they are made in this hemisphere
(Mexico) for now. Hanes, of course is headquartered
around here (NC) but the textile industry has been hit hard. Lots of
people thrown out of a job in the last 5 years. Most of
their stuff is made in Mexico and the like.

Levis' largest denim supplier is Cone Mills, in Greensboro.
They are setting up factories in India and China.. it's only
a matter of time. They've closed almost all of their plants except
their oldest one here (White Oak Denim Plant) which has been
here for 100+ years. I took a tour of it a few years ago, it was actually
quite interesting to see how denim is made. Railroad cars of cotton bales
come in one end of the plant, and trucks full of denim leave at the other
end. They declared bankruptcy and were bought by Wilbur Ross, he also
bought Burlington Industries, too, same story.

http://www.itg-global.com/global/global.html

Another company headquartered here, VF (parent company of
Wrangler) has operations here, but most of their clothing is
made elsewhere. In fact, there is an cargo service out
at the airport that flies a planeload of denim down to the
Dominican Republic every day, and flies back with a load
of blue jeans.

Check that label on your pants, it likely doesn't say
made in USA.

> Years ago I had a friend who bailed out to avoid the Big Heat and
> moved to an American enclave near or in Cancun. I haven't talked to him
> in a while, but he was happy over the move. I heard that the law was
> changed about non-Mexican nationals being able to actually own land
> down there. If so, that might eventually be a game plan.
>
> CobraJet


Se Habla Espanol. No, not me. However, I do know some Arabic..

--
David M (dmacchiarolo)
http://home.triad.rr.com/redsled
T/S 53
sled351 Linux 2.4.18-14 has been up 6 days 13:54

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Old 01-09-2006, 18:01   #10 (permalink)
351CJ
Guest
 
Posts: n/a
Re: OT: Re: S&P moves Ford deeper into junk


"CobraJet" <coiled@basking.hiss> wrote in message
news:090120061711511253%coiled@basking.hiss...
> In article <pan.2006.01.09.03.37.27.908095@sled351>, David M
> <NOSPAM@nospam.com> wrote:
>


> Please don't tell me Hanes and Levi's are made in China.


I'm telling you that. The last US Levi's plant closed it's doors a few
years ago in 2003! Haven't you noticed that the denim is now about half as
thick as it used to be? I have worn Levi's 501's since the 70's, and their
anti American business practices and politics really piss me off.

Levi Strauss Shuts All U.S. Plants
September 26, 2003
http://www.dynrec.com/levistrauss.html
http://www.cbsnews.com/stories/2003/...in575172.shtml
http://www.organicconsumers.org/clot...2903_levis.cfm

To make it worse they are avid supporters of gun control. That really
pisses me off.

Levi Strauss Supporting Gun Prohibitionists
http://www.jpfo.org/alert20000126.htm
http://www.nraila.org/Issues/FactSheets/Read.aspx?ID=15

Until they started manufacturing cheaper thinner foreign made 501's in the
last 3 years, it was really hard for me to keep from buying them. Not any
more.


>
>>
>> It's just that no matter what we do, we're all slowly being taken
>> over by Asia.
>>
>> Who are the biggest foriegn holders of US treasury securities?
>> http://www.treas.gov/tic/mfh.txt
>>
>> Scary ain't it?


Yes it is DAMN Scary!

>
> CobraJet
>
> --
> Spokesmodel for Arrogant Bastard Ale



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