Rod Lache Quotes

While we acknowledge the potential for improvement from GM's new trucks, it strikes us as completely unrealistic to believe that GM's new product pipeline will be sufficient to do anything more than temporarily mitigate the pace of losses. - Rod Lache

While this certainly sounds dramatic, we fear it may not be enough. Unless the Big Three break their pattern of deflation and market share losses, it is likely that each of them will experience reductions in profitability despite their restructuring effort. - Rod Lache

When you can price much higher that means you can put a lot more content into the vehicles and can reinforce that brand equity by putting out exceptional products. - Rod Lache

We continue to be disappointed by the limited cash savings targeted by current restructuring efforts. Our concerns go beyond the ongoing market share erosion, uncertainty over the GMAC sale, and uncertainty over (parts supplier) Delphi. - Rod Lache

We believe these companies face significant risk if the latest spike in gasoline prices serves as a catalyst to accelerate the shift away from these types of vehicles. - Rod Lache

We believe that Dana is struggling to obtain secured bank financing and a bank deal may not materialize, or if it does, it may be too small to allow Dana to weather company specific and industry head winds. - Rod Lache

We believe liquidity pressures, combined with a weak fundamental outlook could compel Dana to pursue debtor in possession financing and a Chapter 11 reorganization. Given restrictions on secured borrowing and pressure from its suppliers, Dana may not be successful in obtaining sufficient out of bankruptcy secured bank financing. - Rod Lache

We acknowledge the risk that incentives may move higher. This risk is particularly acute considering the potential for a softening of auto sales, and considering all the capacity coming on line between 2000 and 2003. - Rod Lache

This result underscores our concern about GM's earnings concentration, which may be even more acute than we have estimated. - Rod Lache

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