The Unprecedented Crash in The
Recession or Depression?
London, UK - 26th October 2008, 07:43 GMT
Dear ATCA Colleagues
[Please note that the views presented by individual contributors
are not necessarily representative of the views of ATCA, which is neutral.
ATCA conducts collective Socratic dialogue on global opportunities and threats.]
One of the most jaw-dropping bulletins ATCA received this week was the announcement
by Volvo, the world's second largest truck maker. In the third quarter,
Volvo received just 115 net order bookings for new trucks in Europe, down
from 41,970 a year earlier, ie, a degradation of 99.7%. In Europe it had
almost as many cancellations as new orders. Year-on-year orders at Volvo
crashed 55% in the third quarter. The company said that the slowdown appeared
to be spreading to emerging markets and its orders in North America had
failed to recover.
We welcome your thoughts, observations and views. Thank you.
ATCA: The Asymmetric Threats
Contingency Alliance is a philanthropic expert initiative founded
in 2001 to resolve complex global challenges through collective
Socratic dialogue and joint executive action to build a wisdom
based global economy. Adhering to the doctrine of non-violence,
ATCA addresses asymmetric threats and social opportunities arising
from climate chaos and the environment; radical poverty and microfinance;
geo-politics and energy; organised crime & extremism; advanced
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members from over 120 countries: including 1,000 Parliamentarians;
1,500 Chairmen and CEOs of corporations; 1,000 Heads of NGOs;
750 Directors at Academic Centres of Excellence; 500 Inventors
and Original thinkers; as well as 250 Editors-in-Chief of major
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1,000 leading individual and private philanthropists, family offices,
foundations, private banks, non-governmental organisations and
specialist advisors to address complex global challenges such
as countering climate chaos, reducing radical poverty and developing
global leadership for the younger generation through the appliance
of science and technology, leveraging acumen and finance, as well
as encouraging collaboration with a strong commitment to ethics.
Philanthropia emphasises multi-faith spiritual values: introspection,
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-- through micro-credit schemes, empowerment of women and more
responsible capitalism; Leadership for the Younger Generation;
and Corporate and social responsibility.
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