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Peggy Noonan, Special Assistant to Ronald Reagan, on Donald Trump and the Republican Party
07/29/2016
Peggy Noonan gave a poignant, teary, and touching account of the changes in the Republican Party with the Trump movement. Such a massive rejection of the traditional party leaders is unprecedented. The "establishment" in both parties has lost touch with working class voters, yet this has happened in the past and this kind of "one man Show" is unprecedented in American history. In his letters George Washington did not reject criticism and maintained civility and composure in the face of doubters, even when he was chosen to be the first president of the U.S.
Linked Articles
A Disunited Party’s Successful Convention
WSJ 07/29/2016
That Moment When 2016 Hits YouWall Street Journal 04/23/2016
The damage done at Yahoo with failed acquisitions, flawed news strategy investments, followed by costcutting that led to low morale and departure of mobile engineer talent
01/10/2016
A series of bad moves by CEO Marissa Mayer leads to costcutting, layoffs and departure of mobile engineers to rivals Facebook and Google, depriving Yahoo of talent in the mobile business. The internet business is now up for sale with Verizon, Britain's Daily Mail bidding for it, and investor Starboard Value hedge fund pushing for the sale.
Linked Articles
Yahoo’s got millions of users, but it’s still in decline. What went wrong? - The Washington Post
Washington Post 04/20/2016
Yahoo’s Brain Drain Shows a Loss of Faith Inside the CompanyNew York Times 01/10/2016
The response of financial markets to Russian intervention in Ukraine 2014-2015, as arms aid to Ukraine is seen as not a good option
02/11/2015
Linked Articles
New York Times 02/11/2015
Stopping Putin Without Firing a ShotWall Street Journal 02/11/2015
Profiles in courage, women renewing large organizations- Christine Lagarde at the IMF and Ginni Rometty at IBM
08/25/2014
Lagarde says in an intervew in the Washington Post, that she believes women come into leadership at large organizations when the job is tough, requiring everything you can give.
Linked Articles
Christine Lagarde: ‘Don’t let the bastards get you’ - The Washington Post
Washington Post 08/25/2014
Behind Ginni Rometty’s Plan to Reboot IBMWall Street Journal 04/21/2015
Hope and reality in India and Nigeria- The Singh administration in India 2010-2014, and the Jonathan administration in Nigeria 2011-2015
02/21/2014
Are too many young people in the most populous countries of Africa and Asia seeing their hopes dashed and their dreams vanish with the mismanagement of the resources of the country and of the economy? Is the demographic dividend in these countries about to be wasted? Is the goodwill of foreign investors in Europe and the U.S. eager to bring the latest technologies to these countries, as they did in China, about to be wasted by sheer mismanagement and misallocation of resources? These questions are on the minds of young people in Nigeria and India as they rest their hopes on the Buhari and Modi administrations.
Linked Articles
Nigerian Central Bank Governor Ousted
Wall Street Journal 02/21/2014
India Allocated Coal Fields to Private Companies Illegally, Top Court RulesNew York Times 08/25/2014
The EU debate between France's Hollande and Germany's Merkel before and during the EU's Oct. 2012 meeting
10/17/2012
The issue was direct aid to Spanish banks and the early setup of an EU banking supervisor so that Spain could get early debt relief as its economy struggles with high unemployment of over 25%. Chancellor Merkel turned down direct aid to Spanish banks, and partly relented on banking supervision by agreeing to have the legislation completed by Jan 2013 and the actual setup of the supervision authority during the course of 2013, probably after elections in Germany in Sept. 2013.
Linked Articles
German Refusal on Bank Aid Mars European Summit
New York Times 10/19/2012
Hollande fires warning shot at Merkel over austerity on eve of EU summit | World news | guardian.co.ukThe Guardian 10/17/2012
The slow response of Spain compared to the more aggressive aproach of France
07/18/2012
The contrast between Spain's lack of strong and quick action for its banking problems and France's aggressive approach to its debt problem. Spain's problems come from the housing bubble and bad loans in parts of the banking sector especially the cajas savings banks. The lack of strong and early action by bank supervisors at the central bank and the government to cleanup the banks created conditions requiring a bailout. The problems in France which did not experience a housing bubble were the result of slow growth, rising debt and deficits. France took an aggressive approach to tackle these problems, with shared sacrifices, and setting a goal of bringing the deficit down to 3% in 2013 with its 2013 budget.
Linked Articles
France's New Budget Focuses on Cutting Deficit
New York Times 09/28/2012
Spanish Official: Slow Reaction to CrisisWall Street Journal 07/18/2012
Peugeot and the prospects of aid from the French government
07/12/2012
Linked Articles
Peugeot-Citroën Cuts Into French Hopes
Wall Street Journal 07/12/2012
Big Car Plant Closure Shows Europe WoesWall Street Journal 07/12/2012
Obama and election advisor Plouffe- responsible governance, Simpson-Bowles and an election imprint on "everything"
05/26/2012
A White House aide says election advisor David Plouffe's influence affected "everything" in the Obama White House. Tom Friedman points to the influence of campaign consultants on the White House as overreaching and pervasive, going so far a to describe the campaign being developed in test tube fashion. Karl Rove pointed to president Obama keeping an eye on reelection 18 months before Nov. 6, 2012, as not a positive development. Friedman specifically mentions president Obama's failure to endorse the Simpson-Bowles commssion on deficit reductions as part of the imprint of election advisors because reducing tax expenditures or deductions might prove politically unpopular. Yet this was part of responsible governance to take on unpopular positions- something other presidents, including Democratic president Truman, did not fail to do choosing instead to educate pubic opiion on difficult steps needing to be taken. Truman took the decisions head on such as confronting the soviets in Greece and other parts of Europe and in Korea after the fall of the Iron Curtain, so soon after a major war when the public was weary of conflict.
Linked Articles
Obama Adviser's Strategy Is High Risk, High Reward
Wall Street Journal 10/31/2012
President Obama Should Seize the High GroundNew York Times 05/26/2012
The $436 million payment by Greece to holdout bondholder Dart Management and the $1.5 billion demanded by holdout bondholder Elliott Management leading to Argentine default in 2014
05/15/2012
Greece made the payment to Dart Management at a time of 20% unemployment and daily protests on Athens streets, a month before elections in June 2012. Greece only did this as a last resort for release of EU funds that were being held up to make pament of interest on debt. This exacerabated discontent inside Greece as pensions were being cut and layoffs taking place, including increase in electricity bills. The Syriza party made gains in that election and the two main parties lost ground to other parties, including a violent anti-immigrant party. Argentina's Christina Kirchner faces a difficult time with the unions and centrist parties in Buenos Aires province, with a shortage of cash and sovereign wealth fund down to $29 billion in May 2014. Stevenson points out the payment to Elliott Management could lead to a situation where Argentina owed $15-$27 billion to all holdout and exchange investors in its bonds.
Linked Articles
Argentina Finds Relentless Foe in Paul Singer's Hedge Fund
New York Times 07/30/2014
Bet on Greek Bonds Paid Off for a Vulture FundNew York Times 05/15/2012
Research In Motion's Blackberry 10 and the effort to put together a patchwork of technologies
03/30/2012
Research in Motion failed to come up with a smartphone in time to match the iPhone and Android based smartphones. The Blackberry 10 was put together in crisis mode by June 2012. This is a classic example of the chaos created for established players by new entrants and new technologies.
Linked Articles
RIM's New BlackBerry 10: The Patchwork Smartphone
Wall Street Journal 06/07/2012
BlackBerry Maker in TurmoilWall Street Journal 03/30/2012
Greece and EU in 2015- (4) How are the structural issues such as tax evasion in Greece being tackled, after Monti's effort to tackle this in Italy in 2012?
02/18/2012
Surprisingly the Syriza government in 6 months in office did not come up with a plan to implement for tax evasion. This was a major issue for the IMF and in Greece's interest, even though it was going contrary to long standing practice in Greece as it was in Italy. Estimates of lost revenue are about $11 billion each year for tax evasion. By comparison the IMF payment due was less than $2 billion on June 30, 2015. Sustainable long term finances make this a major issue in Greece's own interest. Greece has an aging population and the number of retirees are growing in relation to young working people making this an important issue for stable finances under any administration, and regardless of the euro.
Linked Articles
How Greek tax evasion sunk the global economy
Washington Post 07/10/2012
A Hollow Target for Greek DebtWall Street Journal 02/18/2012
Honda's struggle to recover after the tsunami in Japan with lower margins
12/21/2011
Honda is seeing lower margins as it struggles to recover in the U.S. and other markets. Honda had to use more incentives than Toyota in the U.S. market leading to deteriorating profit margins in 2012. Sales of newer models failed to catch on making Honda dependent on the Civic and the Accord in the U.S. market. The appreciating yen added to the impact on margins with a further shift to manufacturing overseas planned as a response.
Linked Articles
Honda Pins Revival on U.S. Auto Sales
Wall Street Journal 06/01/2012
Honda Revs Up Outside JapanWall Street Journal 12/21/2011
The Hillary you never knew, up close and human- wife, mother, passionate about children, and designated worrier
07/28/2016
Linked Articles
Bill Clinton Praises His Wife’s Feminine Side
The New York Times 07/27/2016
Behind Hillary’s MaskThe New York Times 07/23/2016
Greece and EU in 2015- (2) Was there a breakdown in a willingness to "compromise" and in building "trust"? Did the inexperience of Tsipras and Varoufakis play a part?
04/20/2015
Linked Articles
A Finance Minister Fit for a Greek Tragedy?
New York Times 05/20/2015
Greece on the BrinkNew York Times 04/20/2015
Much needed boost from lower oil prices for eurozone countries Germany, France, Italy and Spain
10/09/2014
For countries like Germany in the eurozone with what Draghi calls "fiscal space" but did not use it, the drop in oil prices from $100 to $65 in 2014 offers relief at the right time to get back to growth in 2015.
Linked Articles
Falling Oil Prices Spur New Bets on Global Economic Growth
Wall Street Journal 12/08/2014
Merkel Hints at Economic Policy Shift in GermanyNew York Times 10/09/2014
The failure of Maliki to reduce sectarianism in Iraq, and the failure of the Obama administration's Middle East policy, lead to reversal of years of effort in Iraq
08/15/2014
WSJ reporter Bradley talks to Maliki's aides who say he is only interested in personal power not the future of Iraq. Gen. James Jones, National Security Advisor to U.S. president Obama 2009-2010, says Maliki's corrupt policies and using increased sectarian conflict to further personal power, and president Obama's failure to act in Syria when chemical weapons were used as well as not maintaining a training presence after the withdrawal, are both responsible for the summer 2014 collapse in Iraq.
Linked Articles
How to Save Iraq and Honor American Sacrifice
Wall Street Journal 08/15/2014
Iraq Crisis: Nouri al-Maliki QuitsWall Street Journal 08/15/2014
German chancellor Merkel and the EU plan for aid to Spain's banks in Oct. 2012
10/18/2012
Merkel turns down an effort pushed by France and Spain at the Oct. 2012 EU leaders meeting for direct aid to Spanish banks. Instead money has to go from the European Stability Mechanism fund to Spain after a request by Spain for aid. The aid request by Spain would be met under program of conditionality set by the IMF, EU and ECB. Spain is delaying a request for aid as borrowing rates on Spanish bonds declined to about 5% by late October 2012. The Rajoy government in Spain faces regional spending problems and separatis sentiment in addition to high unemployment and a worsening situation with its banks. Merkel faces elections for chancellor in Germany in Sept. 2013 and says more time is needed to setup the eurozone banking supervisory authority- to be set up in the course of 2013 with the legal setup completed by Jan 2013 as a concession to France. This would push banking supervision and financial architecture till after the election.
Linked Articles
German Refusal on Bank Aid Mars European Summit
New York Times 10/19/2012
Europe Seeks a Spain StrategyWall Street Journal 10/18/2012
Canada's DBRS, a little known credit ratings firm that made a large difference for the credit ratings of Italy and Spain
08/09/2012
Canada's DBRS put less weight on the political shifts in Italy and more on the low growth rate. It rated Italy A (low) in November 2013, much higher than the ratings given by Moody's and S&P. This was important in the eurozone crisis because the European Central Bank uses the highest rating on a sovereign country's bonds to decide discounts on collateral pledged by banks to the ECB. DBRS has more faith in the lasting value of the euro and sees through the ups and downs of the crisis. It takes a similiar upbeat long term view of Spain. DBRS has credibility because it did not move ratings up as much before the 2008 financial crisis, and did not move the ratings down as much during the crisis, as the large credit ratings firms.
Linked Articles
Wall Street Journal 08/09/2012
The Key to Italy's Rating Is Kept in CanadaWall Street Journal 11/02/2013
Spain macroprudential supervision of its banking system once lauded now turns out to be "timid" and false, could the same be true for China?
07/18/2012
Spain's central bank had a reputation of providing good supervision for Spain's banking system. The problems at the Cajas Savings banks and the current assessment after the request for $125 billion in EU funds for Spain's banks shows how this turned out to be false. Does China face a similiar problem with its housing bubble. The U.S., UK and Spain, failed to control and manage the effects of a housing bubble, can China be a lone exception? Rapid growth enabled China to cope with bad loans in the banking system, with slower growth, a weak European market for exports, and a stimulus that is about one eighth the size in annual investment- one trillion yuan over 4 years in the current stimulus compared to 4 trillion over 2009-2010 in the last stimulus plan. Can China manage this bubble, does it have the experience managing this type of problem or has it papered over the problems as Spain did? This has repercussions for industries and countries from the export sector in Germany, Australia and Brazil to industries such as the German automobile industry, and companies such as Caterpillar.
Linked Articles
As China’s economy slows, real estate bubble looms - The Washington Post
Washington Post 10/03/2012
Spanish Official: Slow Reaction to CrisisWall Street Journal 07/18/2012
Ireland sees hope in the June 28, 2012 EU deal for direct aid from the European rescue fund to banks
06/29/2012
Ireland is the only country that took on all the debt of its banks during the eurozone financial crisis. This makes the June 28 deal a particularly helpful sign for Ireland to reduce its debt load.
Linked Articles
In Ireland, Hope of Retroactive Relief
Wall Street Journal 06/29/2012
European leaders agree to use bailout fund to help banks - The Washington PostWashington Post 06/29/2012
The focus on reviving the economy of Mohammed Morsi, new president of Egypt
05/25/2012
Egypt faces an economic crisis as it runs out of foreign reserves to finance basic imports. Morsi's election comes at a time when the dominant issues for years in Egypt will shift from the political to the economic as it tries to catch up with other countries in the developing world in Asia and Latin America that have made significant progress.
Linked Articles
Egypt’s president is U.S. critic, but could be an ally - The Washington Post
Washington Post 06/26/2012
Muslim Brotherhood claims lead for its candidate in Egypt’s presidential election - The Washington PostWashington Post 05/25/2012
Ford's plans to invest $1.3 billion to scale up its manufacturing operations in China
04/06/2012
Expansion of manufacturing facilities in Chongqing with a$600 million investment and a $760 million investment for a new plant in Hangzhou are part of Ford's effort to catch up with other manufacturers in China. Ford's forecast is for a 5% increase in the market each year for the next decade. The risk is that Ford will be scaling up just as the market is slowing after five years of hyper growth, with increased competition in the Chinese market hurting profit margins, and the distance of the Chongqing plant from the west coast of China making it harder to export to other emerging markets.
Linked Articles
Ford to Build New Plant in China to Catch Up With G.M.
New York Times 04/19/2012
Ford Plans to Boost Production in ChinaWall Street Journal 04/06/2012
Italy's labor laws and competitiveness- the views and actions of Mario Draghi and Elsa Fornero
02/24/2012
Draghi tells WSJ interviewers what economist Dornbusch once told him- the Europeans were so rich they did not have to work anymore. Draghi and Fornero emphasize the large culture change needed in Italy. Fornero says too often labor, business, and govenment tweaked the rules to benefit one special group, and Italy lost its sense of being a rule bound society.
Linked Articles
Italy Official Seeks Culture Shift in New Law
Wall Street Journal 06/27/2012
Europe's Banker Talks ToughWall Street Journal 02/24/2012
Egypt, the IMF, and efforts to revive the economy
02/17/2012
Efforts to revive the economy with aid from the IMF. IMF head, Christine Lagarde, will visit Cairo in August 2012 for discussions with the Morsi government.
Linked Articles
Egypt, IMF Chief to Discuss Loan
Wall Street Journal 08/16/2012
Muslim Brotherhood Looks West in Bid to Revive Egyptian EconomyWall Street Journal 02/17/2012
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