American Axle & Manufacturing Holdings Inc. (NYSE: AXL), which operates three Western New York facilities, today reaffirmed its profit outlook for the year.
The company said it still expects 2006 earnings of $1.20 to $1.30 share, compared with an analysts' average estimate of $1.14, according to a Thomson Financial poll.
American Axle, which also said it is on track to improve cash flow, said the outlook assumes that North American light truck production volumes will be down about 5 percent from last year.
The Detroit parts-supplier operates plants in Buffalo, the Town of Tonawanda and Cheektowaga, and employs 1,500.
http://www.bizjournals.com/buffalo/s...ml?jst=b_ln_hl
People who wonder if the glass is half empty or full miss the point. The glass is refillable.
While this would be great news, I find it very hard to believer.
Perhaps they missed the monthly sales figures coming out of GM lately.
Or maybe American Axle has been successful in diversifying its customer base and now counts high-flying Toyota as a customer.
Truth springs from argument among friends.
If I'm not mistaken, Toyota only makes up about 7% of their sales....Originally Posted by biker
I was trying to come up with some plausible reason why GM and Ford could be in a death spiral and American Axle could inexplicably be levitating in financial stasis.
Truth springs from argument among friends.
Maybe they hired Baghdad Bob as their chief financial analyst.
Look at what happened to the workers at Bethlehem Steel. The workers on the South Buffalo Railway worked for that company all those years and had money taken out of their checks each week for the Railroad Retirement and also had money taken out each week for Social Security. BUT!!!!! and this is the thing I will never understand, when the retirees went to collect their pension checks, they were given a choice, take either the Social Security or take the Railroad Retirement. One or the other , but they cannot take both; even though they paid into both for decades! They called it "double-dipping" How can it be double dipping if the workers paid into both pension funds for decades?
A great example of how IRAs and 401(k)s may be the most liberating thing to come along for individuals in American History.
There is no one you can trust with your retirement.
Not the US govt
Not NYS
Not Social Security
Not General Motors
Not IBM
No one.
Except yourself
Truth springs from argument among friends.
Like hiding gold coins under the bed?
You think you're making much funny joke, huh Bub.
For many folks, doing just that will give a far superior yield to anything you can expect from Soc Sec
Truth springs from argument among friends.
No way, i'm dead serious about the gold thing. As currencies and economies flush down the ****ter, tangible materials like gold and silver tend to hold their values.
OK, I'll buy that.
Any fascination I might have with all that glitters is tempered by my memories of all those folks that bought Krugerrands and such in 1979 at $800.00 per oz.
They're still waiting to break even.
My point was an IRA or 401(k) can set you free. By investing in nothing more sophisticated than an S&P index fund, most folks with a thirty year horizon can built up enough savings to decide to retire when they reach 55.
That's pretty hard to do with hard assets. Unless you're a commodities player.
Last edited by biker; April 15th, 2006 at 12:44 AM.
Truth springs from argument among friends.
The problem with the 401(k)s is that too many Americans don't know squat about investing and do 1 of 3 things wrong: 1. invest too conservatively (ie, guaranteed returns that don't even beat inflation); 2. invest recklessly (ie, put all their $$ in high-risk investments); 3. borrow against their 401(k)s. I doubt that's going to change any time soon because people don't pay attention to financial news and don't learn from others' mistakes. There's also sometimes issues with the 401(k) plans offered by some employers (ie, fees, matching with company stock, etc).
As for IRAs, they're great for those who can afford them. However, most Americans have a hard time just making ends meet. The median family income in the US is about $50,000-$55,000. On that kind of income, it's hard to salt away $3,000 after paying for rent, car, utilities, insurance, groceries, clothing, etc and then the orthodontist says your kid needs $3,500 for braces ...
Your right to buy a military weapon without hindrance, delay or training cannot trump Daniel Barden’s right to see his eighth birthday. -- Jim Himes
blah blah blah Linda.
Sorry, but you sound like a very dated state employee who can't even imagine funding their own retirement.
Millions of workers who trusted the benevolent Company (whom most love to trash, but hope that it keeps paying for their health and retirement benefits) and found out that the tooth fairy really doesn't exist.
Public employees are the last ones smug and complacent enough to say "they have to pay for it." Mouse is regularly pretty blunt about "the City can't go bankrupt."
We'll see. Municipalities can and have gone bankrupt. Who are the public employees going to fleece when the golden geese have flown the coop?
If millions of Americans can figure out how to work on their own cars (and the stupidest of Americans, guys, right Linda), they can figure out what to invest in. It's too important to hope that someone else will do it for you.
Truth springs from argument among friends.
this board cracks me up.
I just cant figure out how private sector hard working people like Linda can side with union politicians.?
At my job I get a pension and a 401k. My wife gets a pension and a 403b. When we retire we'll both collect social security. Out of those 6 potential sources of income, I'm only counting on 2, the 401k and the 403b. My pension may still exist, as the company has it 100% funded. Her state pension should still exist. If all six sources of income pan out I'll be quite please. However, we'll survive just fine on two.
btw... I do all my own work on our cars too
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