What Happened When Alex Kenjeev Paid His Student Loan in Cash
What's a Realistic Retirement Age?In 2006, Chrysler (NYSE: DCX) lost $1.5 billion as the company failed to adapt to changing trends in the auto industry, focusing on minivans, pickups, and sport utility vehicles. By way of explanation, Chairman Dieter Zetsche offered this, which is probably one of the dumbest quotes I've seen so far in 2007:
"The crucial factor was the unforeseeable shift in demand to smaller, more fuel-efficient vehicles, which was triggered by increased gas prices in the U.S." (emphasis added)
Wow. What's next? Will people continue to buy dog food that kills their pets? Will Atari explain the declining sales of the Atari 2600 by saying that "the crucial factor was an unforeseeable shift toward higher quality, more enjoyable video games"?
All I can say is that if the chairman of an automobile manufacturer considers the shift toward smaller cars in light of rising gas prices as unforeseeable, the company probably needs new leadership.
On April 5th, Kirk Kerkorian offered $4.58 billion for the company, so maybe change is on the way.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
