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This is one of the strongest worded statements on Syria made on the editorial pages of the Washington Post, as editorial page editor Fred Hiatt talks about the situation in Syria created by the policies of president Obama and his closest advisors. He calls the failure of these policies Obama's achievement, failing to find any other word to describe the years of deliberate inaction and appearing to act in crisis when simply stalling, during 2011-2015, that reversed all the gains and opportunity presented by the Arab Spring. Instead it has put that part of the world back into a dark period similiar to 17th century Europe with the religious and sectarian conflicts that lasted for the better part of that century, compounding the serious errors under Republican administrations since Reagan, with new errors by taking the opposite extreme in policies- without giving a place for thoughtful courageous policies and making difficult choices.

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Juan Carlos I is unique among monarchs in the world in the way he has worked tirelessly to promote Spanish interests overseas, and promote Spain's vibrantly functioning democracy, after the pain and stagnation of the Franco years. He did this in the last three decades as Spain gradually returned to normal political and economic life and joined the European Union. There is a sense of personal responsibility for the past in Spain in the sense of making every effort to learn from the mistakes of the past, that one finds in Germany, and the king shares this feeling. Juan Carlos actively participates in political meetings including the association of Latin American countries and promotes Spanish business in a way that is not seen anywhere else in the world, and not in the British monarchy, the closest comparable monarchy in Europe. During the current economic crisis he is rallying Spanish business with the message: export, export, export. Juan Carlos's son is also being prepared for a similiar role....

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The Journal's interview with Weight Watchers International CEO, David Kirchhoff. Weight Watcher's strategies focus on increasing its online business and getting males to join Weight Watchers. According to Kirchhoff it has 1.4 million people, 90% of whom are women, attending meetings each week all over the world. Online business is surging, with an average of 1.8 million additional subscribers for the first 3 quarters of 2011. In the first 3 quarters of 2011 the online business showed gains of 70%. Estimates are for the online business to generate $400 million in revenues and $200 million in operating income in 2011. Today 65% of the business is in the U.S. and a large part of the rest is in Europe. Kirchhoff sees new opportunities in China, where poor lifestyles- the use of the internet instead of being outdoors, and the increased access to all kinds of food- is creating a surge in obesity.

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Investors in China fear that the overheated economy and property bubbles, may see a sharp turn with excessive tightening of monetary policy. China rebounded quickly after the 2008 crisis, but did this with a huge stimulus and by encouraging excessive lending levels. Some of this local government lending is suspected to have gone into low quality projects with the danger of bad loans. Inflation was 2.8% in April, and as lending tightens the Shanghai Composite Index has fallen 16% in the last month. The crisis in Europe, the extremely short 2-3 month horizon of mainland Chinese investors, the excessive supply of shares- attempts to raise $74 billion in share issuance in mainland and Hong Kong markets and an IPO of $30 billion for Agricultural Bank of China- all put pressure on stocks. OECD index of leading indicators for March 2010 show a drop from February, and the Chinese economy grew 11.9% in the first quarter 2010.

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Nokia is initiating a search for a new CEO to replace Mr Kallasvuo who became CEO in 2006. Since then Apple's iPhone has changed the market and Nokia has not been able to match the trend set by iPhones in the mobile phone device market. Nokia's stock has fallen 42% since April 19, 2010. Nokia's response to the iPhone was to replace its mobile phone executive and to create a separate operation for smartphones. Nokia plans to have a new line of smartphones in 2010 to compete with the iPhone. The main problem is its operating system software which needs to be more sophisticated. Nokia holds about 40% of the cell phone market with Europe and countries like India being its strong points. But Nokia's margins in India are low because of intense competition. Apple has already surpassed Nokia in the profit in phones, making $1.6 billion in profit in the third quarter of 2009 compared to Nokia's $1.1 billion.

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Germany recorded 9% growth, in the second quarter of 2010. Martin Wansleben, managing director of Germany's Chamber of Commerce and Industry, says the recovery pace is too fast and unsustainable. The spurt in growth may be shortlived and was mainly a result of a surge in exports to Asian markets. The countries that benefited from this growth are in Northern and Eastern Europe. France recorded 2.5% growth, Austria and the Netherlands 3.5% growth. Eastern European countries that help Germany export also did well, with Slovakia at 5% and Czech Republic at 3% growth. By contrast Southern European countries, Greece, Portugal, Spain, and countries like Ireland have not benefited. German growth has not resulted in markets for other countries as German consumer spending is tight. See the link to the expansion of the low-wage sector in Germany and the downside of this; with average wages actually falling in Germany in recent years.

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The ECB's second phase of the Long Term Financing Operation provides 800 European banks with 529 billion euros in 3 year loans at 1%. The impact of the first phase in Dec. 2011 with 489 billion euros in loans was greater on borrowing rates for Italy and Spain than it was this time. The larger number of banks participating in Feb, 2012- 800 banks compared to 523 banks- with many smaller banks included, is expected to provide a boost for lending to small and midsize businesses in Europe. The total net amount of liquidity added as a result of the operation in the two phases is expected to be 520 billion euros, as some of the loans were a transfer of existing loans to the longer term 3 year loans provided under the Long Term Financing Operation. The operation has helped bring confidence to the European banking system and will help the recapitalization of European banks.

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Airbus's plan to invest $600 million for a manufacturing plant in the U.S. state of Alabama. Airbus plans are to assemble the A320 models of single aisle planes at a new plant in the Mobile area in 2015. By 2018 the plant would make 50 planes annually including the planned shift to the "Neo" version of the A320 with new engines. Because the planes are priced in U.S. dollars manufacturing in the U.S. helps reduce the effects of currency fluctuations on Airbus's financial performance. Costs of manufacturing are similiar to that in Europe, according to Airbus executives, as final assembly is only 5% of the cost and about 40% of Airbus equipment for planes is manufactured in the U.S. But Airbus management has realized the importance that final assembly plays in perceptions about where the plane is made, with these perceptions playing a part in getting a bigger share of the market.

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Air routes that cross over Ukraine are used by many airlines for direct Europe to Asia flights. Even though this does not add many miles if Ukraine is avoided airlines have preferred Ukraine as a more direct route. Before Malaysia Airlines Flight 17 jet was shot down by a missile, about 150 international flights crossed Ukraine each day, according to Brian Flynn, a senior manager at Eurocontrol, a pan-European air-traffic control organization. In just the two days before the crash of the jet about 75 airlines flights were routed through Ukraine, according to the Eurocontrol director network manager. The question still remains were airlines taking on more risk by flying so close to the Russian-Ukrainian border, where fighting on the ground and in the airspace was taking place weeks before that missile struck. It appears from this that it could have been any one of these airlines flights that could have been hit.

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Ukraine's conflict flares up again in Feb. 2014 with the flow of Russian arms and fighters into eastern Ukraine. The U.S., Germany and France call on Russia to respect an agreement made in September 2014 to end the conflict. Russian president Putin's proposal is for a new agreement that takes into account the new territory captured by the separatists, in effect creating a new conflict zone with which to influence the government in Kiev. U.S. Secretary of State Kerry says the great technology available today makes it possible to see the flow of Russian forces and arms into eastern Ukraine, refuting Russia's claims that it is not involved. Germany's Merkel and France's Hollande plan to visit Russia to discuss the crisis with Putin as the Americans consider sending arms to the Poroshenko government in Kiev. In Brussels NATO chief Stoltenberg announces the preparations for the new Rapid Response Force to counter Russia's aggressive posture in Eastern Europe.

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Sony is trailing badly in the smartphone business in 2014-2015. Global market share is at about 3.1%. Sales in China have failed to gain with only 0.4% market share, as Xiaomi has made large gains in China in 2014, and with other low cost competitors such as Lenovo. Even in India once considered a promising market Sony smartphone sales market share is at about 3.2%. Market share is about 6.9% in Europe and 14.4% in Japan, according to Counterpoint Research. The mobile division is cutting staff by 2100 from current level of 7000, as mobile becomes Sony's only money losing unit. The head of the mobile division and CEO Hirai are now considering options including selling the unit or joining with third parties. Mr. Totoki, head of the mobile division, says Sony has learned through this experience that creating customer enthusiasm for products involves much more than simply putting together powerful parts.

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The differences in the negotiations relate mainly to taxes and pension cuts. Greece agreed to to phase out a special grant for pensioners with low income by 2018, but rejected immediate cuts to pension payments. Greece agreed to lenders conditions for increasing restaurant value added tax to 23%, if hotels can be kept at 13%. Greece wanted to keep a 30% discount on all value added tax rates in the Aegean Islands. Greece initially suggested increasing corporate taxes to 29%, which creditors rejected seeing that reducing economic growth. Greece then proposed increasing this to 28%. Some experts believe the two sides are not that far apart, and the bigger problem is a breakdown of trust. Antonis Samaras, the opposition New Democracy party leader, and former prime minister in 2014, said Mr. Tsipras "was bringing the country into a total deadlock." The referendum on July 5 he said, "is essentially yes or no to Europe."

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Joe Kaeser, CEO of Siemens AG, meets Russian president Putin in Moscow on March 26, 2014. He also had talks with Gazprom chief, Alexei Miller. Siemen's has invested 800 million dollars in Russia in the last 2 years. Siemens sales in Russia are 2.17 billion euros, 2.9% of the company's revenue. Germany's total trade with Russia is 56.3 billion euros for 2012. Eckhard Cordes, chairman of German industry group Ostausschuss, representing German companies with investments in Eastern Europe, met with Russian officials and Alexei Mordashov, CEO of Severstal metals group. He then briefed the German government on his talks. Chancellor Merkel says dialogue is also part of government policy: "Business contacts are still taking place and I am not interested in seeing the situation escalate, but rather am working towards a de-escalation." Exxon has major investments in Russia and deals with Russian oil companies and the Russian government for oil exploration. Exxon CEO Tillerson has taken a similiar approach....

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Analysts say the price Russia agreed to for natural gas under the May 2014 agreement with China is about $350 close to the $380 price per 1000 cubic metres at which Russia sold natural gas to Europe for 2013. The deal involves building the pipelines on the Russian and Chinese sides and developing natural gas fields in Russian Siberia. The cost of the pipelines alone could be $70 billion, according to think tank RusEnergy, and the total deal worth about $400 billion. China National Petroleum website says Russia will begin supplying natural gas in 2018 with 38 billion cubic metres. By keeping the price "a commercial secret" in the words of Gazprom CEO Miller, Russia and China benefit from not having to renegotiate their contracts with other suppliers and buyers. Putin pointed out that the price has also been pegged to the future price of petroleum products and oil, which are expected to remain high.

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CEO Jeffrey Boyd of Priceline.com hands the CEO role to Darren Huston, a former Microsoft executive. Boyd will continue as chairman. During a remarkable leadership for the company following the dotcom bust Boyd made important acquisitions, including Booking.com. The smaller online travel companies with a focus on hotels in Europe and Asia helped Priceline.com grow rapidly by taking smaller commissions. Priceline shares increased by 65% in 2013 to reach $1000. Revenue for the third quarter of 2013 increased 33% to $2.27 billion with increase in Asian bookings, and overall profit increased to $866 million from $596 million in the year ago quarter. Boyd's strategy in 14 years at Priceline.com was to keep the different websites acquired under separate management to keep brand loyalty and customer perceptions. Websites such as Agoda.com, Booking.com, Kayak, and Rentalcars thrived under independent leadership at each website. Huston headed the international brands and Booking.com from Amsterdam, where he will continue to be located....

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Former Senator Chuck Hagel of Nebraska, has called for fresh thinking in U.S. foreign policy and foreign engagements after the wars in Iran and Afghanistan cost the U.S. about one trillion dollars. He says the U.S. should avoid single issue engagement, get the participation of other countries, and increase common ground on a host of issues which concern most of the major nations in the world. This is why we have a G-20 and not a G-8, says Hagel. This policy also helps the U.S. by having other countries in Europe, Asia and the Middle East take up some of the responsibilities that would otherwise fall disproportionately on the U.S., and lets the U.S. devote attention to strengthening the domestic economy which underpins strength in world affairs. On Iran he sees continuing talks as the better approach to coming up with a solution, for which he has come under criticism from some Republicans.

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How temp services companies such as Kelly Girl and Manpower were started in the post war period. What this means in today's economy with the increase in temp and part-time workers without worker protections and benefits. The trend to temp workers without contracts or protection is seen in Germany, Spain, Japan and other countries. Hatton cites Census Bureau statistics showing one third of adults experiencing poverty are working, one fourth of jobs in America pay less than the federal poverty line of $23,050. In the U.S., Europe and Japan it is not only the jobs that matter but the kind of jobs. Even in countries such as Germany that reduced the unemployment rate this came with a downside in the higher number of lower paying jobs. Temporary workers almost doubled in two decades in Japan to 33% of workers by 2007. Some of the difficult work after the nuclear accident in Japan was performed by temporary workers.

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A draft of the "Common Vision of the World Bank Group," posted online by Government Accountability Group provides details on how the World Bank sees its mission in 2013. The question relates to what the World Bank's mission should be in a world where develping countries such as China and India have made signficant progress. The fragile and conflict ridden states in Africa and in parts of Asia and Latin America will be critical parts of this mission. Yet a lot remains to be done in China and India, and the World Bank sees its role as facilitating the development of needed infrastructure in India and efforts to control pollution in China, better manage the growth of cities in both countries, and also work in the poorer parts of Europe such as Greece. World Bank president Kim sees the World Bank working with the private sector to ensure that infrastructure projects have "a transformational outcome" to help improve incomes of people struggling to join the middle class.

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Unilever is facing higher prices for the vegetable oil, such as palm oil it uses for making soap and margarine. It is passing on the costs to consumers. Nestle and Danone SA are passing on the higher prices to consumers. Nestle increased the average wholesale price for all its products by 5.3%. Higher feed costs make it more expensive for Danone to keep cows, raising milk prices and with it prices of yogurt, cheese and other milk products. As a result food inflation is running at 5% in the USA and prices are higher in Europe and in other parts of the world. Because of the increasing demand for better nutrition levels and better food in diets in China and India and other parts of the world, and low grain production levels, and the increasing amount of land diverted to other uses, including ethanol production in the USA, there are food shortages and higher prices for corn and other grains.

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Friedman draws attention to a very important thing that a perceptive eye like his has grasped, there is too much rhetoric on the democratic and Obama side about focussing on Afghanistan without knowledge of whats going on in the field and all the risks in haphazard involvement and expansion of the war, reminiscent of the small war that was going on in south east Asia when Kennedy assumed office. Another young and inexperienced President who needed to show that he could be tough and just as the cold war was taking shape with the Berlin airlift and other events in Europe. The early years of the Kennedy administration led to an haphazard expansion of the war without fully understanding the situation in the ground. Scweich and Rory's account and the cable by the British ambassador in Kabul and other links show that the war there has to be very carefully handled by the most capable people knowledgeable about what is happening in the ground.

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GM shares dropped by 31% October 8, 2008 to a postwar low. And Jeff Schuster head of auto forecasting at JD Power says the global market in 2009 may experience an outright collapse. The slowdown will extend to Europe, China, india and Brazil. Previously JD Power estimated sales at 14 million for 2009 now it thinks it will be more like 13.2 million in 2009 and this may come up for revision as the economic downturn deepens with higher unemployment, loss in savings, and collapsing consumption. With access to financing drying up, and sales collapsing GM is rnning low on funds to run day to day operations and is expected to be acutely short by the end of 2009. Ford faces a similar situation. One forecast by Citigroup global markets in the link in Detroit News October 9 points to only abot $1 billion remaining by the end of 2009 and even with asset sales generating some $5 billion being thin ice for GM.

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S&P credit analyst put GM and Ford on credit watch with negative implications saying both companies face a serious challenge to liquidity in 2009. And said in an interview that "these companies need a lot of liquidity to run their businesses, and they could approach the minimum levels they need if nothing changes." For GM liquidity concerns are rising because losses for the last 3 and half years have reached $70 billon and credit markets have locked it out of new financing and stalled asset sales such as the Hummer brans and its medium duty truck unit. All this has rattled investor confidence including slipping sales numbers in the US, Europe and in emerging markets like Russia. GM had the larges one day decline in its history by 31% to $4.76 on October 9, 2008, a postwar low for GM stock, and Ford fell 22% to $2.08. In fact GM's intraday low was $2.26! for an astonishing collapse.

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The 41 year old actor and comedian Volodymyr Zelensky, is elected president of Ukraine winning 73% of the vote, compared to 24% for Petro Poroshenko. He plays a fictional Ukrainian president in a popular television comedy Servant of the People. Zelensky's team has promised a new era in which political and business interests are unable to interfere in the judicial system. Poroshenko made similar promises but failed to live upto them. A member of the Zelensky team Ruslan Stefanchuk, says "we need to cut the lines between the presidential administration and the courts and prosecutors."

Many of the countries in Eastern Europe that emerged from the fall of the Soviet bloc, face similar challenges. Zelensky emerged as Ukrainians were struggling with the issues of corruption and deteriorating relations with Russia following a separatist movement in the eastern part of Ukraine supported by Russia. 

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Yale University professor Robert Shiller, founded CAPE, the cyclically adjusted and inflation adjusted S&P price earnings ratio. It takes the average of the 10 past years of earnings and the inflation adjusted S&P 500 index to arrive at this CAPE P/E ratio. Here he looks at CAPE in 2000, 2007 and 2013, to get a sense of where the U.S. stock market stands today and investor confidence. In 2000 CAPE reached 46, in 2007 it was at 27 and in 2013 it has reached 23. The historical average for CAPE is 15- this goes back in data to 1871. Zweig in the WSJ March 8, 2013, cites data from the last 50 years showing the historical adjusted P/E at 19.7. The investor confidence in the stock market or "valuation confidence" based on work done by Shiller is at 72% for institutional investors and 62% for individual investors in 2013, it was about 80% for both categories before the market peak in 2007. This data is on the website of the Yale School of Management. Shiller says the levels of optimism can fluctuate and change easily, requiring careful thinking by investors. He confirms Browning's assertion in the WSJ March 6, 2013, that in inflation adjusted terms investors are not ahead in the last 13 years, when compared to 2000, based on the inflation corrected S&P Composite total return index....

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Diesel version in Europe of the Chrysler 300 C and its performance and gas mileage.