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Work and life in manufacturing communities across the U.S. midwest- Joliet, Illinois, and Janesville, Wisconsin
08/18/2012
The transition period in U.S. manufacturing and manufacturing based communities in the U.S. as the old manufacturing base is replaced by a new one that is more automated and competitive with Asian manufacturers with fewer jobs than the old manufacturing base. The wrenching change in communities like Janesville and Joliet as communities adjust to job losses and smaller incomes.
Linked Articles
Could Paul Ryan’s ideas help his struggling home town? - The Washington Post
Washington Post 08/19/2012
Caterpillar Union Bows to DemandsWall Street Journal 08/18/2012
The risks to Chrysler in 2013-2015 with delayed new and redesigned models, and higher incentive costs reducing margins
07/31/2012
Lower cash flow from the demands for new and redesigned models in a very competitive market, the higher incentives costs reducing margins, combined with losses in the Fiat European operations, will pose challenges for Marchionne in 2013-2014.
Linked Articles
Chrysler Profit Up, Cautions on Spending
Wall Street Journal 01/31/2013
In Turnabout, Chrysler Profit Offsets Fiat LossWall Street Journal 07/31/2012
Fiat's investment in Chrysler helps offset its losses in the European market
07/30/2012
The investment by Fiat's Sergio Marchionne in turning around Chrysler in the U.S. market now helps Fiat tackle a slowdown in European sales. Thi is in contrast to the situation facing Peugeot in France. Still Chrysler's lack of sales in emerging markets remains a weakness for Fiat-Chrysler, say analysts.
Linked Articles
Chrysler Reports $436 Million Profit for Second Quarter
New York Times 07/30/2012
In Turnabout, Chrysler Profit Offsets Fiat LossWall Street Journal 07/31/2012
Production problems, outsourcing issues, delivery delays, and its impact on the Boeing Dreamliner and Airbus A-350 programs
07/11/2012
Changes in orders and cancellations by Quantas, China Eastern and other airlines as a result of long delays in the Dreamliner 787 program.
Linked Articles
Boeing 787 Profit Plan Strained by Order Cut
Wall Street Journal 08/24/2012
Hit by Delays, Airbus Tries New Way of Building PlanesWall Street Journal 07/11/2012
The Institute of Supply Management Index for U.S. manufacturing and the Markit Purchasing Management Index for Eurozone manufacturing in June 2012
07/03/2012
The sharp decline in the U.S. and European manufacturing indexes in June 2012 with the slowdown in China and Europe.
Linked Articles
Sluggish Economy Plagues Europe
Wall Street Journal 07/03/2012
Factory Slump Reaches U.S.Wall Street Journal 07/03/2012
Mario Monti of Italy and the plans for a sounder monetary union in Europe
06/22/2012
The discussions in Rome between Mario Monti of Italy and the leaders of Germany, France, Spain, at the end of June 2012. Monti as respected mediator between the different sides and positions and the importance of productive discussions to the future of the Euro and the economies of Europe.
Linked Articles
Why Monti, despite Merkel, could prove the euro’s best hope - The Washington Post
Washington Post 06/24/2012
Amid crisis, leaders of Germany, France, Italy and Spain meet in Rome - The Washington PostWashington Post 06/22/2012
Boeing and lessons learned from the $50 billion Dreamliner project- (1) a shift to incremental improvement for the path ahead
06/08/2012
No more moonshot projects, say CEO McInerney, and Ray Conner, head of the airplanes division. The cost of the Dreamliner exceeds $50 billion by 2015, according to Barclays Capital, including R&D and related costs. The focus is now on incremental change, on striving for simplicity, reducing complexity, and increasing reliability, after the experience of over 3 years of repeated delays, cost overruns, and reliability failures, high complexity, and overloaded manufacturing processes on the Dreamliner project.
Linked Articles
At Boeing, Innovation Means Small Steps, Not Giant Leaps
Wall Street Journal 04/03/2015
Boeing Hits a MilestoneWall Street Journal 06/08/2012
A recovery in auto sales in the U.S. market to the annual 14 million vehicle level in 2012
06/01/2012
The aging of vehicles to about 10.8 years on average for vehicles on the road in the U.S. is supporting a reovery in the automobile market in 2012. The strong recovery for Japanese automakers in the U.S. is reducing the advantage of American automakers who benefitted from the shortages of Japanese cars after the tsunami in Japan in 2011. The recovery for Japanese automakers is uneven with Toyota doing better than Honda in the U.S.
Linked Articles
May Car Sales Keep Up Healthy Pace
New York Times 06/01/2012
U.S. Auto Sales Keep RisingWall Street Journal 06/02/2012
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
Spain to inject 9 billion euros into Bankia- analysts estimate the capital hole at Bankia at 25 billion euros
05/21/2012
Analysts estimate the capital requirements at Bankia to cope with 12% nonperforming real estate loans on a 190 billon loan portfolio for BFA-Bankia, and to meet other capital requirements, is 25 billion euros. The Spanish government said it would inject 9 billion euros to recapitalize Bankia in May 2012.
Linked Articles
Limbo on Bankia Undermines Confidence in Spain's Handling of Crisis
Wall Street Journal 05/21/2012
Spain to Recapitalize Bankia in Latest BailoutWall Street Journal 05/24/2012
How JP Morgan Chase let its London trading desk operate without risk management controls leading to large losses
05/18/2012
CEO Dimon is described as distracted by other issues. Ina Drew, the seasoned head of the Chief Investment that manages a $300 billionplus portfolio after the merger of other failed banks into JP Morgan Chase in 2008-2009, contracts Lyme disease in 2010 and is no longer the hands on person when she returns in 2011. Ms. Duersten, in charge of the North American trading desk at the New York office leaves in 2011 after 16 years at Chase. The controls over the London trading desk from New York are slipping away and Mr. Iksil and Mr. Macris of the London trading desk take massive trading positions to expose Chase to large losses. CEO Dimon learns about the Chase trading positions and the London Whale (Mr Iksil) from the Wall Street Journal on April 6, 2012, for the first time, astounding the business community and the financial world.
Linked Articles
Discord at JPMorgan Investment Office Blamed in Huge Loss
New York Times 05/19/2012
Inside J.P. Morgan's BlunderWall Street Journal 05/18/2012
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
The behind--the-scenes account and timeline for the trading losses at the CIO London office of JP Morgan Chase bank
05/10/2012
Linked Articles
Wall Street Journal 05/18/2012
J.P. Morgan’s London Whale: A TimelineWall Street Journal 05/10/2012
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
Kazuo Inamori's turnaround of Japan Airlines (JAL)
07/30/2012
Kazuo Inamori founded Kyocera and is considered one of Japan's leading corporate leaders along with such names as Sony's Akio Morita, and Honda's Soichiro Honda. At age 77, Inamori took up the task of revitalizing Japan Airlines and turning around the airline after huge losses. The story of how he managed to accomplish this using his unique management philosophy, cost management, JAL's strategies, and employee efforts.
Linked Articles
Japan Airlines Roars Back With an Eye on U.S. Market
Wall Street Journal 07/30/2012
‘Mikoshi’ Management: How Kazuo Inamori Lifted Japan AirlinesWall Street Journal 07/30/2012
Steeper sales decline than the overall auto industry for GM Opel Europe and Ford Europe in 2011-2013
07/13/2012
Conditions and factors driving a steeper sales decline for Opel and Ford in Europe.
Linked Articles
GM Sees Expanded European Losses
Wall Street Journal 07/16/2012
Ford's Europe Sales DiveWall Street Journal 07/13/2012
Spain gets an extra year till 2014 to bring budget deficits down to below 3%
07/10/2012
A decline in GDP is leading to lower tax revenues leading to a relaxation of deficit targets. Spain faces an unemployment rate of 27% in 2012
Linked Articles
Euro Zone Eases Budget Demand on Spain
Wall Street Journal 07/10/2012
Spain Braces for Renewed Austerity as Tax Take HemorrhagesUnknown 07/10/2012
Barclays management and the loss of credibility after the settlement over the manipulation of the LIBOR rate
06/28/2012
Linked Articles
Wall Street Journal 06/28/2012
Lie Bores Into Credibility of Barclays and the CityWall Street Journal 06/28/2012
The muted effects of the U.S. Federal Reserve's Operation Twist in the second half of 2012
06/21/2012
Monetary policy's diminishing effectiveness in the U.S. in 2012-2013.
Linked Articles
Wall Street Journal 06/21/2012
What Fed Move Means for Investors - Real-Time Advice - SmartMoneyUnknown 06/21/2012
The U.S. May 2012 jobs numbers of 69,000 jobs added and oil prices- reading the numbers correctly
06/04/2012
The mild winter pulled jobs into the Dec-Feb. 2012 period from the March-May 2012 period, overstaing one and understating the other say experts. The drop in U.S. oil prices to $83 on June 1, 2012 should boost disposable income and personal spending acting as an offset to sluggish growth.
Linked Articles
Wonkbook: Don’t read too much into the May jobs numbers - The Washington Post
Washington Post 06/04/2012
Technically Speaking, Crude-Oil Prices in TroubleWall Street Journal 06/04/2012
The glut in the steel industry and China's new Stimulus plans in 2012-2013
05/26/2012
The additional investments in steel production from the Stimulus in 2012- with the accelerated approval of 254 investment projects- will only worsen the glut in steel supplies.
Linked Articles
China’s stimulus policy means trouble down the road - The Washington Post
Washington Post 05/31/2012
Steeling for a Chinese SlowdownWall Street Journal 05/26/2012
Span's Cajas Savings bank, problems with managment and culture, lack of financial controls, and the large losses from the real estate bubble
05/24/2012
Bankia was the new name for seven troubled cajas savings banks that were merged. The failure of the government's handling of the bad real estate debt, the collapse of the IPO price for bankia's IPO, and the insovency followed by takeover of Bankia by the government, is what led to the $125 recapitalization request by Spain to the EU. The cajas in Galicia give an insight into the operation of these savings banks, in many cases run by leaders who became influential in the political system and expanded healvily int real estate during the bubble years. Management remained in place for decades with authoritarian leaders and there were no financial controls.
Linked Articles
Clash of Cultures Upends Spain's Cajas
New York Times 08/20/2012
Spain to Recapitalize Bankia in Latest BailoutWall Street Journal 05/24/2012
Spain's BFA-Bankia Bank estimated capital shortfall of 25 billion euros in 2012
05/21/2012
Before the capital injection of 9 billion euros by the Spanish government in May 2012, estimates of the capital shortfall at Bankia Bank and parent BFA of 25 billion euros.
Linked Articles
Limbo on Bankia Undermines Confidence in Spain's Handling of Crisis
Wall Street Journal 05/21/2012
Spain to Recapitalize Bankia in Latest BailoutWall Street Journal 05/24/2012
Trading losses at the Chief Investment Office of JP Morgan Chase that CEO Jamie Dimon discovers on the pages of the Wall Street Journal, April 6, 2012
05/18/2012
Linked Articles
Wall Street Journal 05/18/2012
Tracking the Trade: Timeline on J.P. Morgan’s London WhaleWall Street Journal 07/13/2012
Paul Volcker, the traders at JP Morgan's London office, and "losses that would be socialized with the potential gains all private"
05/12/2012
Volcker described the situation to the U.S. Senate Banking committee the day before the story came out about the massive trades made by JP Morgan's trader, known as the "London whale." Losses would be socialized under "too big to fail" for the largest U.S. banks.
Linked Articles
Paul Volcker vs. JPMorgan’s London Whale - The Washington Post
Washington Post 05/12/2012
'London Whale' Rattles Debt MarketWall Street Journal 05/13/2012
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