Rossiter acknowledged the trouble the auto industry faces and said Lear needs to restructure accordingly. He said that's essential because there is a likelihood things will get worse before they get better and a real possibility a domestic carmaker could fail without government assistance. Nonetheless, he expressed confidence his firm, industry and economy will survive long-term. And he has sent a letter to President Bush seeking aid to preserve a strong domestic auto industry. 'I encourage all of you to remain positive, as I am, about the longer-term outlook for our company,' Rossiter wrote, adding that 'I plan to continue buying our shares.' He said the auto industry situation 'is most severe in North America, where volumes have declined to levels not seen since the early 1980s.' Lear's stock has lost 95 percent of its value this year. Lear, the world's second-largest maker of vehicle seats, said last month that it was trimming jobs and cutting expenses in areas such as purchasing, manufacturing and engineering to bring production in line with demand. U.S. sales of cars and light trucks for Lear's largest customer, General Motors Corp., fell 20 percent through October. Lear fell 26 cents, or 16 percent, to $1.41 at 4:15 p.m. in New York Stock Exchange composite trading. Bloomberg News contributed to this report. You can reach Alisa Priddle at (313) 222-2504 or apriddledteom.