| Eugene David ...The One-Minute Pundit |
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Wednesday, April 11, 2007
But not all is well in the land of the rich and contemptible:
Luxury makers are certainly looking to stir some buzz at the high end of their lineup. Whether it's a wobbly stock market or changing tastes, there's a lot of surplus sheet metal at the high end, despite record bonuses at Wall Street firms such as Goldman Sachs (GS). BMW's 7 Series sales are down 30%. Mercedes S Class sales are off 13% a year after the new one debuted, and SLK sales are off 30%. Audi A8 sales are off 33%. Porsche sales are down across the board. TRANSLATION: Maybe trickle-down economics doesn't work.
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