From: owner-shindell-list-digest@smoe.org (shindell-list-digest) To: shindell-list-digest@smoe.org Subject: shindell-list-digest V9 #222 Reply-To: shindell-list@smoe.org Sender: owner-shindell-list-digest@smoe.org Errors-To: owner-shindell-list-digest@smoe.org Precedence: bulk shindell-list-digest Monday, April 28 2008 Volume 09 : Number 222 Today's Subjects: ----------------- [RS] Richard-reference in the news. ["Vanessa Wills" ] ---------------------------------------------------------------------- Date: Mon, 28 Apr 2008 01:08:29 -0400 From: "Vanessa Wills" Subject: [RS] Richard-reference in the news. Richard Shindell reference in an AP article about truck sales during the current economy. (I have to say, with all the terrible stuff I've been reading about the economic crisis we're headed into, I was glad for a little something to smile about! Although the article does quickly take a depressing turn.) http://seattletimes.nwsource.com/html/businesstechnology/2004375874_behindthe brand27.html * *Paccar  Bellevue's road warrior By The Associated Press *Singer Richard Shindell croons about selling his old Camaro and fishing boat and buying "the Kenworth of my dreams," even as folks tell him "that to spend your life behind the wheel ain't as great as it might seem." * *The brand's manufacturer, Bellevue-based Paccar (PCAR), might agree. *Its shares and those of rival Daimler AG (DAI) have lost almost twice as much as the S&P 500 so far this year, as sales of big trucks have headed downhill. Diesel prices have soared along with crude prices and the weak economy is lessening freight demand. What's more, tight credit conditions are limiting financing for trucks. Last week Paccar reported that first-quarter earnings fell 20 percent. But it still managed a profit of 79 cents a share, ahead of analyst expectations for 77 cents a share, according to Bloomberg. Revenue dropped 1 percent to $3.9 billion, with U.S. revenue dropping a dramatic 30 percent. Demand overseas has continued to grow, as the weak dollar makes U.S.-built trucks cheaper for foreign buyers. Wachovia analyst Andrew Casey says demand may have troughed. But he doesn't see a bounce for Paccar shares, as they already have priced in hope for a recovery in 2009. He rates the stock "market perform." New U.S. government emissions standards are coming in two years. Stricter emissions rules in 2007 led to an increase in U.S. truck sales but analysts say the "pre-buy" for 2010 may be more muted and likely won't start until this year's second half. Seattle Times deputy business editor Rami Grunbaum contributed to this report. Copyright (c) 2008 The Seattle Times Company - -- "True compassion is more than flinging a coin to a beggar. It comes to see that an edifice which produces beggars needs restructuring." - --Martin Luther King ------------------------------ End of shindell-list-digest V9 #222 ***********************************