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Home  40,000 Want Smart Cars
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“There is no question we’re seeing in the U. S. a slowdown by the
consumer,” Penske said. “On the automotive side, we have seen somewhat
of a slowdown in California. For the short cycle, it’s obvious
consumers are under some duress.”
Penske’s truck-leasing business has experienced a decline.
And the subprime mortgage business is hurting banking, Penske said.
“I heard the other day that for every dollar of capital that is lost by a bank that is $ 10 it cannot lend,” Penske said.
Russ Harrington, outgoing chairman of the Little Rock chamber, said
almost 3, 000 jobs have been created in the Little Rock-North Little
Rock area in the past year.
More than $ 375 million in new capital investment has been made in the
area this year, Harrington said. Two foreign manufacturers, Welspun
Group of India and LM Glasfiber of Denmark, announced this year they
will build plants in Little Rock. Together they will employ more than
1, 300, Harrington said. Elizabeth Small, president of PDC Cos., will
be chairman of the chamber in 2008.
Source Arkansas Democrat-Gazette, Inc. BY DAVID SMITH
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