Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

High auto inventories erase production upside: Merrill (GM, F, DCX) By Tomi Kilgore
Analyst John Casesa at Merrill Lynch said auto industry inventories appear to be running 32 percent above historical averages, which eliminates the possibility of increased production schedules in the fourth quarter and suggests caution for the first quarter. He said early reports carmakers indicate that inventories are standing at 79 days' supply (DS), versus the five-year historical October average of 60 DS. Shares of General Motors (GM) are edging up 35 cents to $35.25, Ford (F) are gaining 12 cents to $9.02 and DaimlerChrysler (DCX) are losing $1.18 to $35.20.<<<

Thought those inventories looked high last week.

Joe