Cliff Diving and its results

Calculated Risk has published this article:

Cliff Diving: Volvo Sales Plunge 99.7%

Talk about some serious cliff diving - from Thisismoney.co.uk: Volvo truck sales plunge 99.7% (hat tip Jonathan)

The depth of the recession was revealed today as truckmaker Volvo admitted demand across the Continent has crashed by 99.7% as it took orders for just 115 new lorries in the last three months.

That compares to orders totalling 41,970 in the third quarter of 2007.

It was Calculated Risk that invented the "Cliff Diving" meme in relation to plunging financial result sheets. At some point, though, a "cliff dive" ends with the diver splattering all over the ground (apologies to those whose constitutions are 8 or below). I'm pretty sure that a 99.7% drop in sales is more than a cliff dive. It's a splatter.

And we all thought that "Cliff Diving" was such a funny name. A pity that all that "cliff diving" is now leading to financial splatter.

Jobs gone. People poorer. We told you so didn't we?

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