DETROIT (Reuters) – Three top investors in the automotive industry painted a grim picture on Sunday for the sector in 2008, with one executive predicting a possible slump in U.S. sales to levels not seen in 15 years.
The weakest forecast is for a possible 9.4 percent decline. But all three — Jerry York, an adviser to billionaire investor Kirk Kerkorian; financier Wilbur Ross; and Thomas Stallkamp, a former Chrysler president — were more pessimistic than many in the battered industry.
“While I am very negative on the autos sector over the next 12 to 18 months, I’m just not sure how bad it could be,” York, a former board member of General Motors Corp <GM.N> and chief financial officer of Chrysler, said at the Reuters Autos Summit in Detroit. “We all know housing is a debacle.”
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Noelle dEstries
Noelle d'Estries, an early GO employee who took on the varied roles of Community Manager, green celebrity blogger, and more. She currently runs worstcookever.com GO entered Noelle's life in February 2007 while she was burning tires in her backyard. A phone call from the green gods at GO, burnt out the fires. Now, Noelle happily wears her GO sweatshirt while eating organic veggies and asking for paper, not plastic. A regular at the local farmer's market, Noelle shuns raking leaves and lawn maintenance, while making gourmet foods constantly. When not staring at her computer screen, she spends time with her equally attractive dog, Tessa, cat, Tim and lover Paul. She currently holds all three point records at RIT and could eat avocados and drink wine for the rest of her life.
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