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  • Wall Street Breakfast: Must-Know News [View article]
    So, is this hedge fund guy who is under investigation for kickbacks in New York the only guy who could have headed the car industry restructuring? What does he know about the car business? More importantly, who does he know in the administration that is passing out these "wealth directing" positions?
    Apr 17 14:11 pm |Rating: +5 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    GM announced today that they were suspending development activities on most of their future cars. Do you think that it is because they are out of money, or that they have talked to Obama who has promised them money if they redesign their lineup to be more fuel/environmentally friendly?
    This is a big problem. We haven't had a debate about a national industrial policy or the degree to which the government should create winners and losers. Europe has some of this (Airbus, etc.) and if we were to pick a critical "too big to fail" industry, it would probably be automotive. Design issues can be fixed with a crack upside the head; manufacturing quality issues are not as bad as they once were; legacy costs for union compensation, executive compensation, and healthcare will make any support very expensive - and probably permanent. At least the political component of the decision will be smaller now than a few weeks ago.
    Nov 06 19:56 pm |Rating: 0 0 |Link to Comment
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