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Detroit News and Free press columnists Tom Walsh and Daniel Howes say its time Detroit gets things right.
12/20/2008
The jobs of suppliers, dealers, bondholders, managers, board members, union officials are all on the line say Walsh and Howes if they can't get their act together and move quickly. There just isn't the time to kick the proverbial can down the road says Howes, and their is bailout fatigue say Walsh and Howes so dates coming up February 17 for debt restructuring and March 31 must be met quickly with action that is convincing. It will be a tough act and its not clear that old management and union officials can measure up to the task ahead from what has been seen over the years according to the columnists.
Linked Articles
Commentary: Forging new path will be rough road for Detroit automakers
Detroit News 12/20/2008
Long Days Journey to Deal for AutomakersDetroit Free Press 12/21/2008
The scene if one walked at the port in Savannah or Long Beach and Mr. Bailey wanting to be just debt-free and happy not rich and acquisitive.
11/30/2008
Mr Bailey's changing philosophy on life, happiness defined as debt free and able to enjoy life with his family. What this does to Savannah and Long Beach's port area.
Linked Articles
When the Downturn Sailed Into Savannah
New York Times 11/30/2008
Frugality Forged in Today's Recession Has Potential to Outlast ItWall Street Journal 04/06/2009
A rescue plan would involve dbtholders, unions, and management all taking a haircut.
11/21/2008
How the automakers failed to convince Congress and end up in a three way battle in Congress between the Democrats, Republicans and the midwestern Congressmen with things like automakers private jets drawing scrutiny over how this industry was diffeerent in the way it did things including the higher medical benefits of union workers that burdened the companies.
Linked Articles
Detroit’s Bid for Aid Fails For Now
New York Times 11/21/2008
Terms of a Rescue PlanBusinessWeek 12/11/2008
Leadership for American renewal (1)- Paul Volcker
10/21/2008
Linked Articles
Volcker Makes a Comeback as Part of Obama Brain Trust
Wall Street Journal 10/21/2008
Senior Advisers: Two Old Friends Talk Fishing and FinanceWall Street Journal 11/21/2011
Nobel Prize winer Vernon Smith likes the direct injection of capital into undercapitalized banks.
10/09/2008
Vernon Smith thinks Treasury has little experience with reverse auctions and they will be awfully hard to do. Direct injection of capital into banks is something Treasury has experience and has done recently in some bank failures such as WaMu takeover by Chase organized by FDIC and Treasury. The British rescue plan of Gordon Brown is to provide capital to the banks in return for equity stakes.
Linked Articles
Britain Takes a Different Route to Rescue Its Banks
New York Times 10/09/2008
There's No Easy Way Out of the BubbleWall Street Journal 10/09/2008
With 1 in 6 mortgages or 16%, 12 millon mortgages "under water," the Feldstein Plan makes sense.
10/04/2008
Martin Feldstein, headed Council of Economic Advisers under President Reagan. His plan is to go to the root of the problem, which is the estimated 40% of mortgages expected to be worth less than market value of the home by Deutsche Bank estimates as the crisis peaks.
Linked Articles
Housing Pain Gauge: Nearly 1 in 6 Owners 'Under Water'
Wall Street Journal 10/08/2008
The Problem Is Still Falling House PricesWall Street Journal 10/04/2008
Homeowners facing foreclosure and the lack of meaningful help.
09/29/2008
A new York Times editorial the day after the Senate passes the Bailout Plan for $700 billion on October 1, 2008, describes the lack of meaningful help and the WSJ describes the language in the bill that refers to foreclosure and several studies.
Linked Articles
New York Times 10/02/2008
Rescue Includes Steps to Help Borrowers Keep HomesWall Street Journal 09/29/2008
Did Putin overreact in Georgia 2008 and Ukraine 2014? Russia and the dangers to the Russian economy of not maintaining good relations with the West
08/13/2008
Russia tones down its overreaction as 66% of Russians polled in June say Russian forces should not enter Ukrainian terrritory. Putin and Russians in the administration policy making may have underestimated the reaction in the U.S. as reflected in this WSH editorial saying Americans should remember the words of Gen. Lucius Clay during the Berlin Blockade and the subsequent airlift. This could be why analysts in Russia now maintain that good relations with the West must be maintained, and entry of Russian forces into Ukraine would have disastrous consequences for Russia in terms of western sentiment and foreign investor sentiment. In such a situation Germany would be likely to support the stronger U.S. position seeing this in terms of the language used in theBerlin Airlift of 1948. For Germany and Russia this would be reversing the hard won gains of building relations from the time of Brandtand Kohl till today, fifty years of effort to build better relations and economic relationships- just too much for sober heads in Moscow Paris, and Berlin to accept, and closing another chapter in Russia's interactions with the West.
Linked Articles
Wall Street Journal 08/13/2008
Seeing Cost of Saber Rattling in Ukraine, Putin Alters CourseNew York Times 07/11/2014
Drug cartels emerging in Afghaistan.
07/27/2008
The UN OFfice of Drugs and Crime ses the growth of drug cartels in Afghaistan as 10,000 tons of drugs from the opium crop have been stockpiled inside Afghistan and are controlled by narco-gangs. This is estimated as 2 years of world demand. This as efforts to curb opium growing have reduced the land devoted to the crop by 22% and reduced the crop by 10%.
Linked Articles
U.N. Sees Afghan Drug Cartels Emerging
New York Times 09/02/2009
Is Afghanistan a Narco-State?New York Times 07/27/2008
The presidential candidates Obama and McCain, agents of change or agents of lobbyists?
07/23/2008
Fannie and Freddie takeover and the reporting of high level ties with lobbyists of both candidates shows the agents of change argument like the free markets argument "as only a thin veneer" as one expert puts it. In this case though the lobbyists who are in other roles as close advisors to the two candidates and the candidates themselves may not realize that politics as usual here had huge implications. Without the hard work of Secretary Paulson and Bernanke the collapse of Fannie and Freddie could have endangered the American economy, not an overstatement, and could also have serious ripple effects all over the world economy.
Linked Articles
For ’08 Rivals, a Skein of Ties to Loan Giants
New York Times 09/10/2008
The Fannie Mae GangWall Street Journal 07/23/2008
$10 billion in cuts in spending that GM plans
07/16/2008
One of the areas is ad spending and sales expenses. GM spends over $2 billion in adspending.
Linked Articles
GM Plans $10 Billion In Cuts to Bolster Cash
Wall Street Journal 07/16/2008
GM's Ad-Spending Cuts Likely to RippleWall Street Journal 07/16/2008
How good were the U.S. Federal Reserve's stress tests of 2012?
07/16/2008
Reilly questions the leveraging aspect of the Fed's 2002 stress test results as they leave U.S. banks leveraging at between 20-30 times capital, the situation that prevailed before the crisis. Experts including Anil Kashyap at the University of Chicago pointed out how the process of deleveraging works in reverse before the collapse of Lehman in 2008- for every $1 of bank losses the deleveraging cycle reduces bank lending by $20- $30.
Linked Articles
Stressing the Bank 'Stress Tests'
Wall Street Journal 03/14/2012
How Bad Will It Get on Wall Street?BusinessWeek 07/16/2008
The apathy in GM's Board with an ever downward spiral.
07/07/2008
GM's Board is not having the vigorous discussion that one expects to see in a company going on a downward spiral.
Linked Articles
GM's Massive Quarterly Loss Adds to Turnaround Pressure
Wall Street Journal 08/02/2008
GM Weighs More Layoffs, Sale of BrandsWall Street Journal 07/07/2008
New heights in fund raising - president Obama in 2008 and the Koch Brothers plans for 2016
12/06/2008
U.S. congresswoman Sheila Bair once said it was the task of fund raising that deterred her and others like her from pursuing careers of national service at higher levels. Obama outspent McCain and Romney by wide margins in 2008 and 2012, right wing groups such as the Koch brothers are organizing similiar efforts of their own for 2016 so as not to be outspent by their opponents.
Linked Articles
Final Fundraising Tally for Obama Exceeded $750 Million
Washington Post 12/06/2008
Koch Brothers’ Budget of $889 Million for 2016 Is on Par With Both Parties’ SpendingNew York Times 01/26/2015
In the past decade China's consumption as percentage of GDP drops 10% to 37%, America's rise to 96%.
11/26/2008
This leads to the global imbalance in savings that London B-School's Prof. Portes complains about. Cross border flows fro, Asia to the West reach 3% of global GDP, pumping extra money into the US banking system, and the European banking system leading to bad lending and a consumption binge. The reluctance of China and the U.S. to change the staus quo till things simply collapsed.
Linked Articles
Imbalance in Nations' Savings Clouds Forecasts for Recovery
Wall Street Journal 03/23/2009
Global Economy: No Help from China's ConsumersBusinessWeek 11/26/2008
Struggle for civil rights and financial rights of women in the U.S. Deep South- Linda Boggs and Rutha May Harris
11/05/2008
In Louisiana, Arkansas, Mississippi, Georgia and other states of the Deep South women's rights and civil rights for black people were a result of decades of effort by women like Linda Boggs and Rutha May Harris, hard work against entrenched prejudice with many setbacks and resilience towards adversity, compared to the soft work of campaign strategy, image making, polling and fund raising of today.
Linked Articles
A Time to Reap for Foot Soldiers of Civil Rights
New York Times 11/05/2008
Ex-Congresswoman Lindy Boggs Dead at 97Wall Street Journal 07/28/2013
Krugman adds his voice to that of many experts who like Gordon Brown's plan and leadership in the global financial crisis.
10/11/2008
Gordon Brown is winning the support of many experts and governments in the remarkable leadership he has shown in this global financial crisis and his plan and execution.
Linked Articles
New York Times 10/13/2008
Rescue Plan Comes Around to Views of the AcademicsWall Street Journal 10/11/2008
British Plan lifts reputation of Gordon Brown and Alistair Darling, his finance minister.
10/09/2008
After some fumbling in the bank run on Northern Rock, Gordon Brown and Alistair Darling come up with what the Wall Street Journal calls "A Plan at Last," as if heaving a sigh of relief after Paulson and Bernanke's own fumbling with troubled assets program.
Linked Articles
U.K. Chiefs Repair Image With Bailout
Wall Street Journal 10/14/2008
A Plan -- at LastWall Street Journal 10/09/2008
New York Times editorial asks Congress to "Show us Hope" as 12 million households or 1 in 6 mortgages go under water.
10/02/2008
NYT laments the lack of anything to give hope to homeowners in the $700 billion bailout plan. So do Feldstein and Hubbard both Republican Presidential advisors of reagan and Bush.
Linked Articles
New York Times 10/02/2008
Housing Pain Gauge: Nearly 1 in 6 Owners 'Under Water'Wall Street Journal 10/08/2008
Fed not likely to risk taxpayer money on Lehman
09/12/2008
Lehman may be allowed to fail or a sale arranged by Treasury without taxpayer funds.
Linked Articles
No Deal Reached Yet to Decide Lehman's Fate
Wall Street Journal 09/13/2008
Sink or Swim for LehmanWall Street Journal 09/12/2008
McCain and the Republican's views of Putin and their background which affects their views of Russia.
08/12/2008
McCain's remarks that when he looks into the Russian President's eyes he sees the letters K,G, B. Shows the differeing perceptions among the Republicans, as Bush's remark was that he could see the soul of Putin in his eyes.
Linked Articles
War Puts Focus on McCain’s Hard Line on Russia
New York Times 08/12/2008
Putin Calls Shots to Salve Old WoundsNew York Times 08/12/2008
Israeli refiner Alon and the market supply and demand for asphalt.
07/23/2008
As more and more refiners turn the heavier oils into gasoline and diesel the supplies of bitumen for asphalt are expected to shrink leaving asphalt in short supply if demand to fix aging roads picks up.
Linked Articles
Oil Cost Boosts Asphalt, for Now
Wall Street Journal 07/23/2008
Israeli Refiner Expands in U.S.Wall Street Journal 07/23/2008
Wind Energy and transmission lines that were built for another era that are a bottleneck.
07/19/2008
Transmission lines built for another era are a road block in the rapid development of wind energy as wind turbines are located in the sparsely populated areas like Kansas and the transmission capacity does not exist to the areas of high demand along the eastern and western seaboard.
Linked Articles
Wind Energy Bumps Into Power Grid’s Limits
New York Times 08/27/2008
Texas Approves a $4.93 Billion Wind-Power ProjectNew York Times 07/19/2008
GM to tap debt markets for only $3 billion depending on $10 billion of cost cutting .
07/16/2008
GM will cut spending in many areas like ad spending and marketing so as to have less dependence on loans secured against its international operation.
Linked Articles
GM Plans Debt Offering To Accompany Cost Cutting
Wall Street Journal 07/16/2008
GM Plans $10 Billion In Cuts to Bolster CashWall Street Journal 07/16/2008
Leveraging of banks U.S. banks in 2012 under the U.S. Federal Reserve stress tests of March 2012 and the leveraging at the time of Lehman's collapse in 2008
07/16/2008
The high rate of leveraging of banks today compared to 2008, suggests that the U.S. Federal Reserve may have prematurely declared the banks safe, say experts.
Linked Articles
Stressing the Bank 'Stress Tests'
Wall Street Journal 03/14/2012
How Bad Will It Get on Wall Street?BusinessWeek 07/16/2008
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