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Deutsche Bank's hit to its image in Germany with legal settlements and ongoing investigations 2009-2013
03/21/2012
The criminal investigation into alleged tax fraud in trading of carbon emissions certificates, the raid at Deutsche Bank's Frankfurt headquarters in Dec. 2012, and arrest of some senior executives, continues problems with the bank's image in Germany since the 2008 financial crisis. Deutsche Bank's was highly leveraged during the 2008 financial crisis and is perceived as contributing to the crisis. Changing the culture at the bank is likely to take more than the introduction of the new co-CEO arrangement in mid 2012 with Anshu Jain and Jurgen Fitschen, say experts. Germany's judiciary was critical of Fitschen for not respecting the independence of the judiciary and understanding the separation of powers for a call he made protesting the raid in the investigation.
Linked Articles
Image Remake Suffers Hit at Deutsche Bank
Wall Street Journal 12/20/2012
Deutsche Bank Lists Litany of Legal RisksWall Street Journal 03/21/2012
China and rebalancing the global economy
03/06/2012
Major shifts in the Chinese economy that are planned for 2013-2018.
Linked Articles
New York Times 07/17/2012
China Speeds Economic 'Transformation'Wall Street Journal 03/06/2012
Ford to double its manufacturing capacity in Chongqing, China by 2014, making it the largest outside of Michigan
02/27/2012
Ford plans to invest $600 million to more than double manufacturing capacity in Chongqing to 770,000 by 2014. This comes at a time of major slowdown in the market in China after years of hyper growth. Ford lags behing GM and VW in China and missed some of the spurt in growth.
Linked Articles
Ford Plans to Boost Production in China
Wall Street Journal 04/06/2012
Ford Faces China HurdlesWall Street Journal 02/27/2012
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
The Indian government's plan to bring the deficit down over 5 years to 3% in 2017
02/14/2012
In response to the policy of the Reseve Bank of India (RBI), India's central bank, to hold off on interest rate changes till the government takes action in reducing the deficit, the Indian government lays out a plan to bring the deficit down to 3% by 2017, and 5.3% in the fiscal year ending March 2013. The government is under pressure to come up with an economic strategy to deal with the slowing economy with growth forecasts lowered to 5-6.5% for 2012. The risk of India's credit rating being being lowered to junk status and drastic slowdown in foreign investment is creating a crisis atmosphere after a period of indecison.
Linked Articles
India Lays Out Deficit Targets
Wall Street Journal 10/30/2012
Indian Central Banker Hits His Government's SpendingWall Street Journal 02/14/2012
Obama's 2012 presidential campaign and weak support from financially struggling white voters
01/13/2012
By a 26% margin financially strapped white voters affected by high unemployment favor Romney over Obama. This is wider than the 18% margin by which Obama, Kerry and Gore lost this group in prior elections. It will be crucial in states such as Ohio, Pennsylvania, Wisconsin and Michigan which were hard hit by the economic downturn.
Linked Articles
Romney holds key advantages among financially struggling white voters - The Washington Post
Washington Post 05/25/2012
White Blue-Collar Vote May Be Crucial in ElectionNew York Times 01/13/2012
Pentup demand after the 2008 global financial crisis and the surge in sales at Chrysler, GM and Ford in 2011-2012
01/05/2012
Linked Articles
U.S. Auto Sales Finish Year Strong
Wall Street Journal 01/05/2012
U.S. Auto Makers' Party Is Braking UpWall Street Journal 04/03/2012
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
Judge Jed Rakoff- America's lone voice in the wilderness on individual responsibility in the 2008-2009 financial crisis
11/28/2011
Linked Articles
SEC-Citi Pact Rejected by Judge Rakoff
Wall Street Journal 11/28/2011
Stern Words for Wall Streetâs Watchdogs, From a JudgeNew York Times 12/16/2013
A cultural shift in job choices on U.S. campuses away from investment banking and finance to technology and other fields
11/22/2011
Shift in choices by graduates during U.S. campus recrutiing by companies.
Linked Articles
Wall Street' Latest Campus Recruiting Crisis
New York Times 03/15/2012
A Blow to Pinstripe AspirationsNew York Times 11/22/2011
Poblems with the Groupon IPO and the company's finances missed in the dot-com euphoria
10/18/2011
Linked Articles
Wall Street Journal 04/03/2012
The Missed Red Flags on GrouponNew York Times 10/18/2011
The Romney plan for job creation in the U.S. through private investment in a climate of reduced uncertainty
09/06/2011
A new Romney administration would create 2.3 million jobs in 18 months according to Romney economc advisor Glenn Hubbard.
Linked Articles
Glenn Hubbard: The Romney Plan for Economic Recovery
Wall Street Journal 08/01/2012
Not More of the SameNew York Times 09/06/2011
Alan Meltzer and Thomas Hoenig's criticism of Federal Reserve Bank chairman Bernake's failure to look at long term consequences of low rates
08/11/2011
Hoenig points to the Fed's lowered rates in 2003 after the burst of the dot com bubble and higher unemployment of 6.5% in 2003 and Meltzer which led to the mortgage meltdown of 2008. Meltzer points to QE II's $600 billion monetary easing in 2010 which failed to revive the economy or reduce unemployment in 2011. They emphasize the Fed's lack of attention to the long term consequences of their actions. Both question the role of the Fed in creating jobs and see the role of the Fed as a neutral player, as deeper structural changes such as ashift to export driven economy, lower consumption take time and are only delayed by a continuation of old policies.
Linked Articles
Kansas City Fed President Defies Conventional Wisdom
New York Times 08/13/2011
The Folly of Economic Short-TermismWall Street Journal 08/11/2011
China's Stimulus plan in 2012-2013 and the problem of "uncoordinated, unbalanced and unsustainable development"
03/06/2012
China's premier Wen Biao told the National People's Congress, China's parliament, in March 2012, that it was urgent to tackel the "problem of uncoordinated, unbalanced, and unsustainable development." He called for "an acceleration of the transformation" of the economic model towards consumption and away from exports and infrastructure spending. The accelerated approval of 254 investment projects in May 2012 puts off this task of rebalancing development for China and the world economy. With slowing growth in China and the last Stimulus of 2008 having propelled the housing bubble, the options were limited. A decrease in the reserve requirement by 0.5% in 2012 for China's banks was not expected to spur growth because lending was not expected to increase, as the demand for loans is low. A sharp falloff in growth below 7% was feared leading to the acceleration in investment.
Linked Articles
China’s stimulus policy means trouble down the road - The Washington Post
Washington Post 05/31/2012
China Speeds Economic 'Transformation'Wall Street Journal 03/06/2012
BP stays in the Gulf after the Gulf Oil Spill
03/03/2012
BP executives say BP plans to invest $4 billion each year in oil exploration in the Gulf of Mexico for the next decade, 2012-20122. Investments will be made in safety for deep water drilling.
Linked Articles
BP Expects to Spend $4 Billion a Year in Gulf
Wall Street Journal 04/30/2012
BP, plaintiffs reach Gulf of Mexico oil spill settlement - The Washington PostWashington Post 03/03/2012
World Bank chief Zoellick on China's 2012-2013 Stimulus plan and the China Development Report of the World Bank/ DRC
02/23/2012
Zoellick calls for an approach from China that avoids the mistakes of the rampant credit expansion and investment of the 2008 Stimulus.
Linked Articles
World Bank Chief Urges Euro Bonds
Wall Street Journal 05/31/2012
New Push for Reform in ChinaWall Street Journal 02/23/2012
U.S. automaker GM's efforts to reduce risk levels from pension obligations in 2012-2013
02/16/2012
WIth lower margins than competitors General Motors (GM) is increasing the margin of safety by reducing risk levels from its underfunded pension plan.
Linked Articles
GM Acts to Pare Pension Liability
Wall Street Journal 06/02/2012
GM Cuts Benefits for Salaried StaffWall Street Journal 02/16/2012
IKEA moves forward with plans to open 25 stores and replicate its China success in India
01/24/2012
Linked Articles
IKEA Says It Is Ready To Give India a Try
Wall Street Journal 06/25/2012
IKEA Remains Wary of Entering IndiaWall Street Journal 01/24/2012
Intel and the rebound in PC's in 2012-2013 based on the plans for the superthin Ultrabooks based on the MacBook Air
01/10/2012
Linked Articles
Intel Expects PCs to Help Chip Gains
Wall Street Journal 04/18/2012
Intel Pushes MacBookNew York Times 01/10/2012
The U.S. Federal Reserve's job as financial regulator after the 2008 financial crisis and the impossible job it faces
12/29/2011
Linked Articles
Red Flags said to Go Unheeded at Chase
New York Times 05/14/2012
The Fed's Mission ImpossibleWall Street Journal 12/29/2011
China's Stimulus plans in 2012-2013 and the increasing risks of breaking by taking the unsustainable existing economic model even further
12/18/2011
Linked Articles
China’s stimulus policy means trouble down the road - The Washington Post
Washington Post 05/31/2012
Will China Break?New York Times 12/18/2011
Tax evasion in Italy and Greece and Germany's insistence on good governance and financial practices for a sound euro currency
11/25/2011
One estimate of tax evasion in Italy cited by Faiola in the Post is $340 billon a year. Greece has a similiar problem. This is one area in which the culture and practices of individual countries have to converge to acceptable norms to make a common currrency viable, something the founders of the euro currency did not take as seriously as needed and account for in a disciplined framework. The political enthusiasm for a union of European countries of EU founders led to ignoring the dangers of not having controls and convergence in place.
Linked Articles
New York Times 12/01/2011
Amid crisis, Italy confronts a culture of tax evasion - The Washington PostWashington Post 11/25/2011
Former Fed chairman Volcker on the Volcker Rule and the ban on proprietary trading by banks
10/27/2011
Volcker's letter of comments on the Rule and the interview with Pete Rose. Here he says why this will make financial markets a safer place and why it will lead to healthy financial markets. The financial industry is opposing the Volcker Rule.
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Charlie Rose Talks to Paul VolckerBusinessWeek 10/27/2011
China's move forward with nuclear energy after the Fukushima nuclear accident
10/10/2011
A move away from coal used for electricity supplies towards nuclear energy. The increase planned is from 11 gigawatts of nuclear energy in 2012 to 40 gigawatts by 2015 and 60-70 gigawatts by 2020. Five nuclear energy projects will be planned at a cost of $27 billion with financing help from a Shanghai IPO offering in 2012.
Linked Articles
China Nuclear Firm Plans Up to $27 Billion IPO
Wall Street Journal 06/06/2012
China Marches On With Nuclear Energy, in Spite of FukushimaNew York Times 10/10/2011
John Bogle of Vanguard Funds, a persistent voice against speculative behaviours in financial markets
09/03/2011
Linked Articles
John Bogle, Vanguard's Founder, Is Too Worried to Rest
New York Times 08/11/2012
How the Index Fund Was BornWall Street Journal 09/03/2011
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