Don't lets all panic. People paying too much attention to biz news lately may feel a bit frazzled, but that means this is a time to look for signs of hope.
There may be such signs, even in the fractured North American auto industry. Here are three:
1. The auto parts company, Dana Corp., which filed for bankruptcy in March 2006, says it plans to exit bankruptcy by the end of this year.
That isn't just an optimistic rosy-tinted sayso, either. Dana's reorganization plan has been picking up some support. The company's bondholders formally approved it earlier this week.
2. Ford Motor Company has set a new land speed record. Its Ford Fusion Hydrogen 999 reached 207.28 miles per hour on the Bonneville Salt Flats. The reports I've seen aren't clear about the date, but it appears to be something of a breakthrough for the fuel cell technology involved.
http://www.autocar.co.uk/News/NewsArticle/Ford-Concepts/227307/
3. GM, too, is making a "green push" and seems ready to show off the results at the upcoming auto show in Frankfurt, Germany.
http://www.autobloggreen.com/2007/08/16/frankfurt-preview-lots-of-debuts-and-a-green-push-for-gm/
So ... think good thoughts!
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