deaverb

Eleven Notes on the Cantankerous Credit Markets

Author covers important subjects and inspires us to think about them. Sunday is a particularly good day for this, so Alpha gets credit too. On the Delphi front, GM was smart enough to dump that overpriced union wages mess. Some investors underestimated how bad it was--which only indicates how smart GM was to dump it, even with the bite backs. Better than being responsible for the mess--in any way but financial. As the creaky bellows rattle, and Delphi grinds to a slow death through high costs and tough work rules, GM at least can concentrate on its own businesses--and only have to pay (much simpler than trying to save the mess or defend it in public). Kudos to GM mgt for dumping it.