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The electronics manufacturing bubble in Japan with large badly timed investments by Panasonic in plasma television and Sharp in LCD 's
11/01/2012
Linked Articles
Sony, Sharp and Panasonic Report Significant Losses
New York Times 11/01/2012
Panasonic Stock TumblesWall Street Journal 11/01/2012
CEO Sergio Ermotti shifts Swiss bank UBS away from investment banking- 2012-2014
10/28/2012
Linked Articles
Wall Street Journal 10/30/2012
UBS to Cut 10,000 Staff in OverhaulWall Street Journal 10/28/2012
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
U.S. bank lending not recovered by 2014 from the severe decline in lending in 2010-2012
09/27/2012
Linked Articles
Banks Wrestle With Lackluster Lending
Wall Street Journal 11/04/2014
Need a Loan? Where Do You Live?Wall Street Journal 09/27/2012
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
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
How Nokia missed the smartphone market opportunity
07/18/2012
A focus on pure R&D and not building new products hurt Nokia badly.
Linked Articles
Nokia Slips to Seventh in Smartphone Market
Wall Street Journal 11/15/2012
Nokia's Bad Call on SmartphonesWall Street Journal 07/18/2012
Election of a moderate cleric Rohani as Iran's president in 2013 after years of economic discontent from international sanctions.
07/13/2012
Rohani has attended theological seminary. He also attended law school in Tehran University and in Scotland where he completed master's and doctoral degrees in law. This gives him a unique understanding of the concept of the rule of law for an Iranian cleric. He cited his achievement of avoiding international sanctions as chief nuclear negotiator fo president Khatami, contrasting this with the Ahmadinejad years during pre-election televised debates.
Linked Articles
New Iran Leader Seen as Moderating Force
Wall Street Journal 06/16/2013
Iranâs Airliners Falter Under SanctionsNew York Times 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
The reports of audit and consulting firms on bad loans in Spain's banking system in 2012 and the need for credible estimates to restore confidence
06/20/2012
Linked Articles
For Spain, Accusations of Lagging on Reforms
New York Times 06/20/2012
Spain Tallies the High Cost of Riding Out Bank CrisisNew York Times 06/21/2012
Lenovo and the PC market in China and India 2010-2014
05/29/2012
Lenovo now has the largest PC market share in the two fastest growing markets- China and India.
Linked Articles
PC Firm Lenovo Hunts For Brazil Acquisitions
Wall Street Journal 05/29/2012
As Rivals Outsource, Lenovo Keeps Production In-HouseWall Street Journal 07/09/2012
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
The risks to Ford Motor from its European operations in 2013-2014
04/26/2012
Linked Articles
Ford Could Be Slowed by Global Potholes
Wall Street Journal 01/29/2013
Fordâs Challenges Mount in EuropeNew York Times 04/26/2012
The high turnout of evangelical Christians and Catholics as a factor in the 2012 U.S. presidential election
10/31/2012
The voter turnout among evangelical Chrisitians could be a factor in the 2012 U.S. presidential election similiar to that in 2004. Both Romney and George W. Bush gaining this vote.
Linked Articles
Henninger: Romney's Secret Voting Bloc
Wall Street Journal 10/31/2012
Rove: Sifting the Numbers for a WinnerWall Street Journal 10/31/2012
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
Renewed warnings in 2013-2014 for the housing price bubble in China (3)- Jia Yang and Nicholas Lardy of the Peterson Institute of International Economics
10/03/2012
Linked Articles
As China’s economy slows, real estate bubble looms - The Washington Post
Washington Post 10/03/2012
Economists: China Mirrors U.S. on Eve of Financial CrisisWall Street Journal 03/18/2013
The Obama-Biden campaign and the heated rhetoric on Social Security, Medicare, the middle class and financial regulation
08/15/2012
Linked Articles
Washington Post 08/15/2012
Ryan pick presents new challenges for Biden - The Washington PostWashington Post 08/16/2012
New GASB, Moody's rules show a widening gap in the funding of public pensions in the U.S.
07/18/2012
The Volcker- Ravitch State Budget Crisis Task Force identified the problems facing U.S. states and cities which have poorly funded public pension funds. The problems are large and real as seen through the GASB rules, and the findings of the Volcker-Ravitch Task Force.
Linked Articles
New rules expose bigger funding gaps for public pensions - The Washington Post
Washington Post 08/17/2012
Report Details Threats to States' Fiscal HealthWall Street Journal 07/18/2012
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
The challenges facing Citigroup CEO Pandit in 2012-2014
07/16/2012
Linked Articles
Citi Looks Toward Developing World
Wall Street Journal 07/17/2012
Citi's Not-So-Simple TaskWall Street Journal 07/16/2012
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
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 drop in commodity prices with slowing growth in China balanced by higher absolute levels of demand 2014-2015
06/11/2012
Linked Articles
China Slowdown Is Rocking Raw Materials
Wall Street Journal 03/12/2014
Commodity prices drop on economic woes in Europe, China, U.S. - The Washington PostWashington Post 06/11/2012
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
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