News from around the web: 2009-11-04
I was interviewed on the BBC last night about the GM/Opel/Vauxhall deal. I am waiting for video before posting any more about it. My general feeling, however is GM’s backing out is being driven by reflation as GM no longer needs to sell Opel/Vauxhall in this economic environment. Quite frankly, I think it is a bit premature to think reflation has been successful. But, GM has Neelie Kroes breathing down its neck. It had to act.
- GMAC’s Mortgage Unit Loses $747M in Q309 : HousingWire
Remind me, why are taxpayers propping them up?
- Should Jon Corzine Take Over Bank Of America? – Dealbreaker
He IS out of a job.
- EconomPic: ISM Services Slowly Expanding
Dichotomy with manufacturing suggests that underlying demand is weak.
- Profit `Not Satanic,’ Barclays Says, After Goldman Invokes Jesus – Bloomberg.com
- Barclays Chief: Jesus Loves Bonuses – Dealbreaker
Sure he does. Keep telling yourself that. I am NOT for capping pay, but this is not a good quote.
- Bank of Ireland losses near €1bn – Independent.ie
More bad news in Ireland
- Top finance blogs – Prieur du Plessis
We are in the group. And I recommend Prieur’s site very highly.
- Top earning dead celebrities 2009
Yves Saint Laurent gets top billing. MJ is only third.
- Michael J. Panzner: Treasury Officials Meet With Financial Bloggers
More on econobloggers at Treasury
- Curious Meeting at Treasury Department – Yves Smith
Must read account of Treasury’s cultivation of econobloggers
- FT.com | Money Supply | The Fed and its “extended period” language
More on the FOMC
- The Fed Thoughtfully Strokes Its Beard, Flaps Its Gums – Annaly Salvos
Hat tip Scott. Will the Fed get rid of ‘extended period’ in its statement?
- AT&T to Verizon: “There’s a Lawsuit for That”
Verizon is saying AT&T has terrible 3G coverage. A&T is livid.
- VIDEO: What the Military Industrial Complex Does Not Want You to Know: The History of Iran « Patrick J. Buchanan
A historically accurate depiction of the last 56 years in Iran.
- Profile: Neelie Kroes, EU competition commissioner
"The EU competition commissioner forcing through the radical break-up of Britain’s banking system"
- Rising factory orders bolster recovery prospects | Reuters
More evidence of a manufacturing recovery.
- FT.com – Sony Ericsson unveils Android-powered phone
Google is getting serious play here. Android has arrived.
- House prices rise by 1.2%, says Halifax
Better mth to mth than Nationwide but worse yr-on-yr.
- Rolfe Winkler – Burlington…not so Buffett-like
This analysis says Burlington Northern is not a good deal.
- Norwegian Wood – Edward Hugh
A comprehensive overview of the Norwegian economy after the rate rise
Distraction of the Day: Defining Adultery in the Age of Alzheimer’s
Of Love and Alzheimer’s – WSJ