Author

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

News

Links: 2009-05-06

Edward Harrison May 6, 2009

GM details plans to wipe out current shareholders | Reuters General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the…

Markets

Grantham: go with high quality and hedge against inflation

Edward Harrison May 5, 2009

Jeremy Grantham is out with his quarterly update. And he has a number of investment themes worth mentioning. First, I should mention that his global outlook is fairly downbeat: We are experiencing the most severe synchronized global…

Economy

When Giants Fall: No green shoots here

Edward Harrison May 5, 2009

I have been making bullish noises of late, but I am fully cognizant of all the downside risks. So for the sake of presenting both sides to this argument, I want to highlight the ‘dark’ side in this post based on a book I have just read.…

Economy

Bernanke expects recovery later this year

Edward Harrison May 5, 2009

I am watching Bernanke at the congressional hearing. You can see his prepared testimony at CR here. But, the general take on what he is saying is that the economy has reached its worst rate of decline and should improve steadily until it…

Economy

Services sector still contracting, but shows more new orders

Edward Harrison May 5, 2009

Today, the Institute for Supply Management (ISM) released its Non-Manufacturing Survey on Business. The overall index increased to 43.7 in April from 40.8 in March. As 50 is the demarcation line for a growing economy, these numbers…

Business

Fiat as the engine for change in the auto industry

Edward Harrison May 5, 2009

As developments in the global auto industry continue apace, it is becoming increasingly evident that Fiat has fashioned itself as a change agent in an industry rife with overcapacity. While eyes in the U.S. are fixed on a Fiat-Chrysler…

News

Links: 2009-05-05

Edward Harrison May 5, 2009

FT.com - Spanish banks lead the way in risk management Spain's banks are beig praised for risk management, much as Canadian banks are. The Cajas are a different story. "Managers believe that this intense board-level focus on risk is one…

Political Economy

Asia is de-coupling

Edward Harrison May 4, 2009

A post from Reuters in overnight trading in Asia caught my eye. It proclaimed “Asia faces up to challenges of global crisis." What I found particularly interesting about the post was the fact that the Asians had set up a $120…

Business

The Boston Globe to be shut down

Edward Harrison May 4, 2009

This comes via the Washington Post: The New York Times Co. said last night that it is notifying federal authorities of its plans to shut down the Boston Globe, raising the possibility that New England's most storied newspaper could…

Political Economy

Goldman connection at NY Fed “doesn’t pass the smell test”

Edward Harrison May 4, 2009

Kate Kelly and Jon Hilsenrath have a story on the front of the Wall Street Journal today demonstrating the real problems with the revolving door between Wall Street and the regulators. The essence of the story is this: new York Fed…

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