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Chrysler's sales are dropping the fastest of all the car companies . April 2009 sales dropped 24% from March 2009. Ford sales are doing better than Toyota, as they declined in April over same month prior year by 32%, compared to 42% for Toyota. It appears that the Buy American factor may be helping Ford Motor more than the other American car companies, and that Chrysler also suffers from the lack of new models with new technology and investment in new features. At GM the situation is better at Chevrolet, Buick, Cadillac and GMC, where sales in April 2009 declined by 29%, over same month prior year, which compares with a 55% decline in sales, of Pontiac, Hummer, Saab, and Saturn brands which are likely to be dropped. See the related link on same day on steep fall in Chrysler sales.

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The kind of Nation America will be is already being determined in America's classrooms. The share of students chronically absent from US schools has jumped from about 15% before the pandemic in 2018 to 26% in 2023. In the richest districts from 10% to 19%, in the poorest districts from 19% and  to 32%. Losing about a third of children K-12 in schools for absenteeism is a huge learning loss to the Nation. Missing more than 10% of classes counts as chronically absent, the data is from 40 states in the US K-12. Majority White went from 13% to 22%, Majority Non White went from 17% to 32%. Analysis of data from American Enterprise Institute. This has real implications for learning loss and student behavior. Even school districts which opened earlier in the pandemic are affected to same degree with absenteeism doubling in Victoria, Texas school district. In this report NYT has a place where you can enter the school district name for instance entering Dearborn School District in Michigan and it shows the absenteeism has gone from 10% to 26% in this district and this means it has close to tripled. In adjoining Dearborn Heights it went from 25% to 44%. In New York City this goes from 25% pre pandemic to 36%. Compare this with the richest districts in the Nation when we entered Scarsdale we found absenteeism up from 4% to 7%, next Piedmont in California 6% to 9%. Irvine Unified relatively affluent 5% to 12%. What this means is that across the board there is learning loss and in addition the disparities are also growing from the wealthiest to the middle income and the larger population districts such as New York, and the diverse Dearborn, MI.  ...

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The head of ISRO, India's Space Agency, is an unassuming man of simple needs and simple living. He studied in the Tamil medium, doing his Bachelors in Science from Kanyakumari Hindu College. He comes from a farming family in a village of Kanyakumari.  Used to walking barefoot, wore a dhoti, and only wore slippers when he went to Engineering college. Even with modest rural means, helping his father in his fields, he got his Masters in Aeronautical Engineering from Indian Institute of Technology in Madras, pursued Aerospace Engineering at Indian Institute of Science in Bangalore, and PhD. from IIT, Bombay. He is meticulous about details, and would cancel a meeting till errors found were corrected. Behind the unassuming simple manner is a extremely diligent person who has worked in every phase of rocket design and technology for 36 years at India's Space Agency. India achieved a world record by sending 104 satellites into space with one flight of PSLV, a third generation satellite  launch vehicle with liquid stages, in February 2017- Sivan was a key scientist in this endeavor. He is in every sense a vindication of Gandhi's idea in Hind Swaraj written in a steamship coming back from London to South Africa in 1910 that India would have to go back to its own language, culture, bring opportunity to the mass of rural India, before adopting new technologies from all places. He is also a vindication of the idea that the most diligent and dedicated scientists and engineers willing to persevere over decades are the key to progress for Asia's developing nations, and similarly for a bright future in Africa and Latin America. ...

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Much of the cost of the Common Prosperity campaign of president Xi to increase access to healthcare, education and housing will fall on heavily indebted local governments in China, says WSJ. Today in 2022 these three education, healthcare and housing are moving beyond reach of ordinary Chinese because of rising costs and referred to as the "three big mountains." In education and housing the government has moved to improve access. Today parents like Ding Jianxiong in Beijing can give their children two extra hours of classes in school for not cost. It saves money and time compared to tutoring classes that the government is discouraging. Teachers have to work longer hours for this to happen and the cost is borne by local governments. Governments at provincial, municipal and county level finance 80%, 70%, and 60% of China's fiscal expenditures on education, healthcare and housing projects. Data from China's Finance Ministry shows local governments have built up $4 trillion in debt at end of 2020, up 20% from a year earlier, much of it to finance infrastructure projects in the last 20 years. This experts say is an underestimate with additional debt buried and camouflaged in financing vehicles, other forms of debt. In 2020 the central government restricted sales of land that were creating an overinflated housing market and driving cost of housing ever higher, depriving local governments of a principal source of revenues. Land sales are now down about 15% and falling. Experts say a new property tax could only bring in one fifth of what was derived through land sales by local governments. The result is a fundamental mismatch today between revenues and costs for local governments that has not been addressed. ...

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Honda will invest $750 million in the GM Cruise LLC, followed by $2 billion invested in development of self-driving autonomous cars over 12 years. Honda takes a 5.7% stake in GM Cruise, with Softbank having a 19.6% stake after investment of $2.2 billion in June 2018. Honda's investment with GM Cruise LLC which is a separate entity created by GM to develop autonomous self-driving cars, is a culture change for Honda. In the past Honda prided itself on its tech prowess, now this is changing. Automakers are likely to team up as they face competition from Waymo, a unit of Google's Alphabet, setup in 2016.

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Munich Security Conference is being organized by Christoph Heusgen, the conference chair, who was an adviser to Angela Merkel and previous German  Representative at the United Nations. It will be held Feb 14-16 at the Bayerischer Hof hotel in Munich. JD Vance will be attending for the US with alarge delegation including Keith Kellogg US DJT envoy to Ukraine and Zelensky of Ukraine. German federal elections are on Feb. 23, 2025 with CDU's Merz holding a lead. Pete Hegseth Defense Secretary is not attending the conference. Hegseth has expressed views skeptical about Ukraine. Mark Rutte, the former Dutch PM is attending as Secretary General of NATO. The Munich Security Conference Report cites DJT and says- "Indeed, the notion of 'resource scarcity' has become a central premise of Republican foreign policy thinking." Germany barely spends 2% on defense. DJT wants to see 5%. DJT's comments are published in the Munich Security Report- "We were being ripped off by European nations both on trade and on NATO." "If you don't pay, we're not going to protect you." ...

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President Biden addressed the Nation from the Rose garden today November 7, 2024. His remarks were conciliatory. "You can't love your neighbor only when you agree."  "Something I hope we can do, no matter who you voted for, is see each other not as adversaries, but as fellow Americans. Bring down the temperature." It is a remarkable end to a remarkable presidency which history will judge as perhaps a single term in which more was done than in any other 4 year term of a presidency, except for FDR in 1932 and Lincoln in 1861, tackling a once in a century pandemic, and rebuilding the economy, manufacturing, and infrastructure. And even correcting missteps on immigration by getting the legislation to fix it. It is a tall order for anyone who succeeds Biden though in the current post election situation there will be the typical euphoria on one side and losing on the other.  During the Republican sweep by Herbert Hoover in 1928 Franklin Roosevelt was elected governor of New York and he used the intervening years to 1932 to prepare for the monumental task ahead by testing his plan for economic recovery using New York and a couple of states from Illinois, Ohio, Pennsylvania, Massachusetts, Maine and New Hampshire, setting up the first unemployment insurance, shorter week, annual employment and other ideas to stabilize employment for one third of the US economy. Biden says he has asked his administration to work with Trump's team for the peaceful transition to a newly elected president. None of the fears about the transition came true with the new president getting a clear mandate to tackle the cost of living crisis for Americans. ...

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It is too much to expect central bankers to solve the US economy's problems, especially with rates nearly zero, and no agreement between the political parties before mid-term elections. The Federal Reserve by itself cannot fix the economy's problems, with the US economy facing prospects of deflation in 2011; and local governments cutting back as they face revenue shortfalls. Deficit concerns have led to inaction on further stimulus or help to local governments, and the Bush tax cuts are expiring shortly. In 2011 austerity cuts will be the singular theme in the western world, and these cuts are of a magnitude not seen in 40 years. In this situation there is only so much the US Fed can do.

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Mercedes is seeing signifcant sales growth in China. It is Mercedes's third biggest market with sales of 100,000 cars compared to 67,000 in 2009. Daimler CEO Dieter Zetsche says that given no downturn in the world economy Mercedes-Benz cars should reach its target for return on sales of 10% by the second half of 2012. He predicted EBIT of 2.5-3 billion euros for 2010, and plans to boost expenditures for R&D in fuel efficient technology and capital investments in new vehicle models in the second half of 2010. Analyst Warburton at Sanford and Bernstein, writes that Mercedes is likely to pass 7% margins in the first half of 2010, and will get a boost from a weaker euro plus strong sales in China. The only question is, as Dieter Zetsche noted, prospects depend on no downturn in the global economy. China's economy is growing too fast to be sustainable growth and a property bubble is developing, and its not certain how long strong sales in China will last. There are other signs of a slowdown in the global economy. See global economy....

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As Prime Minister Aso's ratings in the polls drop to 20%, it looks increasingly likely that the Liberal Democrats will lose the election that has to be held before September 2009. Yoshimi Watanabe, who was minister for administrative reform in two previous administrations and the most visible face for reform of the bureaucracy at the current time, quit the Liberal Democratic party recently. Aso's plan to stimulate the economy with a $130 cash payment to all people in Japan is meeting with skepticism and disapproval, as it is considered doubtful it will jumpstart the economy. Polls indicate 70% of voters oppose it. Aso came in as PM in September 2008, before the full brunt of the global economic crisis hit in November 2008. Voters see him as another old face of the Liberal Democratic party, older politicians who do not have the popular appeal especially with the shift to the younger Obama type politicians in the USA. The Liberal Democratic party has ruled for all but 11 months since the Second World War. Polls also show voters trust the opposition leader of the Democratic Party, Ichiro Ozawa, more than Taro Aso....

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To really understand American history from its founding with the Mayflower voyage read the two volumes of Francis Parkman of the period between 1600-1756 that is rarely read and understood about how the American Indians and the French, the British, lived and built new settlements on the American continent. It is told in a very readable and authentic way by the greatest history and story book teller of this period. Library of America published Francis Parkman's France and England in North America. The Washington Post said that a thousand years from now, if their are still Americans here, Parkman will be their Homer. Too much of the American story told by only one person and PBS documentaries. One can learn about it simply by reading about it through different books, asking one's own questions,  and coming up with one's own understanding of American history which would be more authentic. This would include excellent biographies written by authors such as David McCullough whose range and vision combined with other authors including Barbara Tuchman for the 19th century, and many British authors such as Roger Knight covering the Napoleonic period offer a better picture of European and American history intermingled, a better perspective than the monopoly business venture that history becomes with these PBS documentaries by one person.           ...

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Sixty four years ago president Kennedy accepted the nomination of his party with these words in Los Angeles on July 15, 1960- "But I think the American people expect more from us than cries of indignation and attack. The times are too grave, the challenge too urgent, and the stakes too high--to permit the customary passions of political debate. We are not here to curse the darkness, but to light the candle that can guide us through that darkness to a safe and sane future. As Winston Churchill said on taking office some twenty years ago: if we open a quarrel between the present and the past, we shall be in danger of losing the future.  Today our concern must be with that future. For the world is changing. The old era is ending. The old ways will not do.  Abroad, the balance of power is shifting. There are new and more terrible weapons--new and uncertain nations--new pressures of population and deprivation. One-third of the world, it has been said, may be free- -but one-third is the victim of cruel repression--and the other one- third is rocked by the pangs of poverty, hunger and envy. More energy is released by the awakening of these new nations than by the fission of the atom itself."       ...

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How a new energy and environment panel created at the urging of democratic leaders and Speaker Nancy Pelosi is taking a stand on climate change and fuel economy standards for automakers. Democratic Rep Ed Markey of Massachusetts heads this panel. He is having to overcome opposition from Michigan Rep Jon Dingell who heads the Energy and Commerce Committee and who represents the interests of automakers in Congress. Right now the Senate has already passed legislation for a increase of fuel ecomomy to 35 mpg for all cars and light trucks with bipartisan support. Mr. Dingell is holding out in the House, by calling for economy wide legislation for climate change and for looking at the consequences of the Senate legislation more closely, moves that would put off any change for 1-3 years. Will Ed Markey be able to insert fuel economy standards into the energy bill that is now before the House?

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Auto production is expected to increase by 7.5% in the third quarter of 2011, according to IHS Automotive. This could boost GDP by half to one percentage point in the third quarter say economists.

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European leaders meeting in Brussels set Sunday July 12, 2015, as the final day by which Greece is expected to submit proposals and reach an agreement with the EU. All EU leaders will be present at the Sunday meeting at which Greece's postion as a member in the eurozone will be settled, and measures for humanitarian aid to Greece can be discussed. EU chief Juncker called Sunday July 12, 2015 the deadline date. Greece's finance minister Tsakalotos surprised European leaders by not having any proposals to submit. German chancellor Merkel said at a news conference- "There are only a few days left for a discussion on what's going to happen in the future. What we need now is a multi-annual program tht goes far beyond the program that we discussed ony 10 days ago." Experts at Bruegel research organization in Brussels say the ECB providing emergency financing is dependent on Greece coming to an agreement with the EU, and if no agreement is reached Greece's exit from the eurozone is very likely....

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Nobel laureate Michael Spence says the structural problems in the U.S. economy will require structural solutions where government, business and labor come up with collective efforts to restore economic growth. This might take some time says Spence. Short term fiscal spending alone is not the answer for jobs growth. And it will take a joint concerted effort of government, business and labor. Part of the effort might include a period in which there is lower income growth to regain competitiveness. This would be similiar to what Germany accomplished in the last decade in which it faced high unemployment. The German government, labor unions and business forged a consensus which included wage restraint, changes in the labor market. This would have to be combined with government-business partnership to make investments in advanced manufacturing technology and other innovations to improve competitive position. Educational standards and productive skill development issues would have to be addressed to create new advantage for the U.S., just as emerging market economies are making new strides of their own....

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The Tory plan to abolish the Financial Services Authority will not go through under the new Liberal-Conservative coalition. The plan now is to give the Bank of England responsibility for banks and financial institutions that are big enough to create systemic risk and to oversee financial regulation. The coalition partners support a levy on banks to act as a buffer in future crises, and favor restricting bank bonuses. The Conservatives would tax bank size, and the Liberals would tax bank profits, but both share the goal of raising 1 billion pounds in this way. Vince Cable, Liberal Democrat party's Treasury person will now be business secretary at Treasury, and he favors breaking up the biggest banks, shrinking banks and separating retail and investment banking activities. This could happen under the new coalition, but it is likely to be preceded with some commission asked to look into it. The Liberals like to see less focus on London for the markets and banks owned by their customers as far as possible....

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Demonstrations by public workers in Madison, Wisconsin. Public workers are protesting cuts in benefits by Republican governor, Scott Walker. Governor Walker is proposing legislation that will require public workers to pay more for health insurance and pensions, resulting in a reduction in take home pay of about 7%. He is also proposing changes that limit bargaining to basic wages, excluding benefits from bargaining. Wisconsin faces a deficit gap of $3.6 billion for the next 2 years.

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Marc Lynch of the George Washington University Institute for Middle East Studies, says the U.S. should close its embassy in Cairo, and sever ties with the military government in Egypt. The policies of the Obama administration showing ambivalence towards the movement for democracy in the region has hurt U.S. credibility even as the U.S. media and people have supported the positive developments away from military run governments. The damage done will take a long time to repair.

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prepaid credit cards are taking off. From $4 billion in 2007 to $8.7 billion in 2008. Especially with the young and college students, this is becoming increasingly popular way as an introduction to plastic. With the new credit card law making it difficult for anyone under 21 to get acredit card without an adult to cosign for him or her, this will become even more of the norm among college students and the young facing debts to be repaid.

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Kerkorian will lose $640 million of his $980 million investment in Ford made in April of this year at $7 a share. He sold a portion of his shares at $2.43 a share and is expected to sell the remainder soon. MGM Mirage stock that he owns have fallen by 85% since hitting $100 a share last October. The value of his 54% stake in MGMMirage has sunk from $13 billion to just over $2 billion. Its not clear that sale of Ford shares were prompted bya margin call. After seeing the debacle of Kerkorian twice once before this with GM shares in recent years other investors are likely to be wary of auto stocks.

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The work on the 760 mile Nord Stream pipeline- connecting Germany to Russian natural gas supplies from Siberia- was completed in September 2011. The natural gas flows through the pipeline under the Baltic Sea. The project was completed at a cost of 8.8 billion euros. Gazprom will provide secure longterm supples of natural gas to Germany. The secure supplies take on new significance with Germany's decision to phase out nuclear energy.

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Automakers are also looking at small engineering changes that will help them accomplish the task of doubling fuel efficiency by 2025 to meet new U.S standards. Honda's new 2012 Civic has special coated engines to reduce friction for a 2% increase in fuel efficiency. Toyota's new 2012 Camry weighs 150 pounds less than the 2011 model. Chevy tried aerodynamic changes on the new Malibu, and lighter materials for the roof, computer controls that shut off the engine when idling,, and active air shutters for the engine compartment.

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Miles White, CEO of Abbott Labs, describes the approach based on 4 P's- people, product, presence and perseverance- that will work best for emerging markets. The idea is to become a citizen of that country or region, with the right mix of local people, product customized for regional preferences, local infrastructure, and perseverance for the long haul. The stakes are huge, as emerging markets are growing rapidly. The pharmaceutical market in India is expected to quadruple from $12 billion today to $50 billion by 2020.