Sunday, October 19, 2008

United Technologies Chairman on China

Jim Cramer, of CNBC's Mad Money, has attributed the current commodity correction to a slowdown in China. On Friday's episode of Mad Money, Cramer interviewed a guest with a different view, George David, the Chairman of United Technologies (NYSE: UTX). In response to Cramer's question about China, David reiterated the point he had made on his company's recent conference call that China was "booming" and, as an example, noted that United Technologies had sold 30% more elevators in China in the third quarter of this year than it had sold in the same period last year. Here is a link to the video of Cramer's interview with David. The discussion about China comes up at about 7:13.

1 comment:

DaveinHackensack said...

Today's IBD noted that China's GDP grew at an annual rate of 9% in the third quarter -- still higher than that of any large country, but it represents the fifth consecutive quarterly decline (albeit modest) from last year's double-digit rates of growth.