cars

Bankruptcy is a necessary part of a free market. I certainly believe this to be so. Rick Newman, who writes the blog "Flow Chart" over at U.S. News, is putting forward the provocative idea that failure is exactly what we needed more of in…

It may sound counter-intuitive to loosen credit standards when we are on the cusp of major job losses and bankruptcies. But, this is exactly what the newly minted bank GMAC is going to do with its free money from the TARP (Troubled Asset…

Opel is a well-respected brand in Germany. As a result, the German subsidiary of General Motors has been profitable while the parent company was hemorrhaging losses. Many Germans see the parent as an albatross around their neck, leading to…

Yesterday, I mentioned an article I caught in the German newspaper Die Welt which outlined the desire for VW and Daimler Benz to receive bailouts in response to the state aid being offered to American car makers. I warned that a competitve…

It seems that the bailouts are now turning into a "Beggar Thy Neighbor" policy of aid for specific sectors of the global economy. First, it was finance as the banks were savaged by massive writedowns to their property and derivative…

The Institute for Supply Management (ISM) released its monthly report on Manufacturing, the ISM Manufacturing Report on Business®. It showed a reading of 36.2 down from 38.9. Where 50 is the demarcation line between growth and recession,…

In direct conflict with the statements in Washington by its Chief Executive Rick Wagoner, the General Motors Board of Directors is willing to consider bankruptcy as one of many options. The Wall Street Journal released a story late last…

Bloomberg is reporting that Obama's transition team is exploring a pre-packaged bankruptcy filing for the US automakers as a solution to the stand-off in Washington. Apparently, Obama has some pretty savvy people in his transition team…

Today's round-up is going to principally be about the three CCC's of Countries, Citigroup and Corporates.  But I also have some tidbits on other topics as well.  So let's jump right in. Yesterday sucked. Markets fell everywhere from…