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Automotive News
August 28, 2000 - 12:01 am ET
DETROIT - Further statements branding the gyrations of the stock market as an unreliable index of business conditions, particularly in the automotive industry, were issued by motor executives today.

Richard Scott, president of Reo Motor Car Co., said in a letter to shareholders that movements of the stock market have no relation to actual business conditions.

When the nation's economic bubble burst, many Americans found themselves scrambling for cash.

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