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  • Wall Street Breakfast: Must-Know News [View article]
    "In a speech Tuesday, President Obama is expected to talk about using leftover TARP funds for job creation, although he may hit resistance from Republicans who want to use such funds for deficit reduction."

    Obama may also hit resistance when he goes back and reads the TARP legislation, which does not allow for using TARP funds in the manner he desires. Of course, the rule of law did not slow him down during the Chrysler and GM bankruptcy proceeding, did it?
    Dec 07 09:33 am |Rating: +8 -2 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Excellent Wall Street Breakfast this morning, Suzanne. A couple of comments:

    "House Speaker Nancy Pelosi suggested recycling leftover funds from the $700B TARP fund to create jobs and boost some salaries." Why boost salaries, as we now live in a world of no inflation and 0% increases for Social Security?

    "Interim GM Chairman Ed Whitacre will announce new responsibilities for Vice Chairman Bob Lutz as part of an overhaul of the management team this morning, sources say. Whitacre is building a team to run the company until a replacement is hired, in a push to make GM more nimble and to hold employees accountable." Wonder if any of the employees who will be held accountable are UAW members. And, aren't employees already accountable for what they do?
    Dec 04 09:55 am |Rating: +3 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    For what it's worth, Hazem Khalid Al-Braikan should be executed or, perhaps worse, fined to the tune of 3-10 times the amount he inappropriately profited from his illegal scheme. I suspect he will ignore the SEC lawsuit or bargain it down to a tolerable out-of-court fine. Any meaningful punishment will likely be the responsibility of our dubious ally, Kuwait. How Kuwait ends up treating Hazem Khalid Al-Braikan will be telling on how Kuwait really feels about the US; real ally and friend or oil customer to be exploited to maximum possible. Failure to properly punish will, like meaningful punishment, give a good indication of what Kuwait really thinks of the US, and failure to properly punish will encourage further similar shenanigans by other Kuwaiti rich guys.
    Jul 24 12:15 pm |Rating: +2 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "[Chrysler warns on dealership legislation. Chrysler warned it could face liquidation for a second time if lawmakers move forward with a plan to reinstate terminated dealership agreements. The House of Representatives has already approved a measure to restore contracts with 789 dealerships, but the bill's future in the Senate is less certain.]

    If every dealership had $5MM worth of inventory in cars and parts, aggregate would be about $4B in total. This is a travesty for the small business families. " Quote, spald_fr above.

    I have an old master's degree (1975) in economics and have given the reductions in dealerships some thought. While it is true that the dealerships do not cost Chrysler and GM directly, they compete against each other and, therefore, lower the average cost paid by the average US new car buyer and, therefore, lower the amount every dealer can pay and that Chrysler and GM can demand for each new car. Arbitrarily reducing the number of dealerships is a way to reduce dealership competition and increase the cost of a new car beyond what it needs to be by, you figure, something in the 2% to 10% range and increase profitability at Chrysler and GM and subsequently raise union wages; it is a transfer of wealth from ordinary new car buyers to Chrysler and GM to union wages to democrats via campaign contributions, accomplished by restricting trade/free competition. Do you really think a democrat congress is going to force Chrysler and GM to recognize the now or soon to be shut down dealerships?
    Jul 23 10:20 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Looks like neither the Obama-Pelosi cap-and-trade (tax) and health care reforms (more taxes) are going to pass in their present forms. Those are two real green-shoots.
    Jul 21 09:12 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "The Times ... is cutting non-union salaries at the New York Times and the Boston Globe." Interesting. Not sure is this supports more unionization (workers in the union benefit in the short-term) or less (the NYT can better respond to market conditions and increase their probability of survival long-term).

    "Personal bankruptcy filings among those 65 and older jumped 150% from 1991 through 2007, according to a study released last year by AARP." Billp37, I suspect the population of those 65 and older also increased by a considerable percentage between 1991 and 2007. Can you provide that number? Thanks.
    Mar 27 09:37 am |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Our politicians want to disregard contract law, the foundation of a capitalist system, in order to get back a few million dollars from AIG people while at the same time spending billions of dollars in earmarks and pork in the recently passed and signed into law funding bill. What hypocrisy! Was this what the founders had in mind when they guaranteed the right to bear arms? I predict the tea party movement will gain momentum.
    Mar 18 10:43 am |Rating: +8 -1 |Link to Comment
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