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Siobhan Gorman of the Wall Street Journal interviews Michael Morrell of the U.S. Central Intelligence Agency. Mr Morrell has been at the CIA for 31 years and is a senior advisor to General Petraeus, new head of the CIA. Here he describes the efforts of the CIA and his advice to Gen. Petraeus.

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The risks to Republicans of losing sight of their narrative by tea-party leader comments such as calling Latino voters "illiterate." This is balanced by the careful and considered respose of presidential candidates, Kasich of Ohio, Rand of Kentucky, and Jindal of Louisiana, and of senior party leaders such as McConnell and McCain.

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A disservice by DW.com to conservative Julia Klockner  when Europe and the US are moving in a conservative direction, and people have lost patience with illegal migration and lack of integration in society. Julia Klockner is Bundestag president and is close to chancellor Merz. She is a senior politician of the CDU, from Rhineland Palatinate. Her father is a wine grower in that region. She started out as a journalist and from 2010 -2022 led the CDU in her home state. She has taken a position on the destabilization of German politics by the AfD party after Merkel's failures in illegal immigration that has stretched public resources. Similar to the premier of Denmark Mette Fredericksen, a Social Democrat, Klockner as a Christian Democrat understands that illegal migration is bad for social cohesion in Germany. Klocker and Merz both understand that the public's patience has been tested to the limits by millions of illegal migrants as in the US. Her view early on in Merkel's cabinet was that legal immigrants have to be integrated into German society. She sees no need for AfD, when the CDU/CSU conservatives in Germany and in Bavaria can prevent illegal migrants from entering the country. She says-"You don't have to vote AfD for what you want. There is a democratic alternative: The CDU."  ...

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The suicide note left by CFO Wauthier of Zurich Insurance in August 2013. This followed heated and tense exchanges with chairman Josef Ackermann of Zurich Insurance, who joined the company in 2012. Wauthier says Ackermann created a very stressful working environment and treated managers disrespectfully, putting pressure on the finance department. Ackermann joined Zurich Insurance after a career as investment banker and CEO of Deutsche Bank AG. Zurich Insurance's board said an internal investigation will be conducted on cultural issues about whether excessive pressure was placed on the finance department by senior management. Ackermann resigned immediately. Ackermann had tried to change the culture at Zurich of courteous and quiet internal meetings. His position was non executive chairman but he took a vigorous role. Zurich Insurance was facing a difficult macroeconomic environment and missed three year operational targets set in 2010. Wauthier was a 53 year old dual French-British citizen who joined the company in 1996. He worked in southern California for the company in one position, where he improved his surfing skills. The differences between the hard charging investment banking demeanor of Ackermann and the quiet demeanor with engagement in sports of Wauthier, suggests serious differences in management styles leading to conflict that ended in tragedy....

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Magdalena Andersson of the Social Democrats, joins Mette Frederiksen in Denmark as the first female prime minister in Sweden. Both are from the Social Democrats. She won by a single vote after an agreement with the Left Party to increase payments to pensioners, and alliance with the Greens. Under Sweden's strange and different system a minority vote can lead to formation of government- Andersson was elected with more votes against than in favor, 117 members of parliament in favor, 174 against, and 57 abstentions.  It is more about members not voting against so that in Sweden's system one has an absolute majority as a party if fewer than 175 parliamentarians oppose. This also means the budget that will pass will be the opposition's budget and Social Democrat Andersson will remain as prime minister, as opposition parties prefer Social democrats to right leaning anti immigrant parties. Today Germany's Social Democrat Olaf Scholz and Greens Habeck as "senior Minister," Elena Baerbock as foreign minister, are leading a new government in Germany. Social Democrats and Greens have undertaken the task of renewing investment in infrastructure and modernizing their countries in Northern Europe. ...

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The selection of Tim Walz as VP was simply from the heart for Kamala Harris- She liked the way Walz called the former president's campaign "weird" saying we are not afraid of "weird" even if it is "creepy." Kamala Harris liked him- "he is so open" "I like him." And you could see it on the stage in Philadelphia.  “Governor. Veteran. Coach. Teacher,” Jen O’Malley Dillon, the campaign chair, wrote on X. “Winner.” Being a teacher mattered to Jill and Joe Biden and to Jen O'Malley Dillon. Jill teaches community college and did not miss class even in the days of the Inauguration. Harris really respects teachers. It helped that he was a veteran and the most senior army reserve man in the House. And his record showed for climate, for fairness for workers and families, achieving in Minnesota through legislation what Biden has done for the Nation. ...

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Germany stands out as an outlier in the percentage of cars imported into the US and not made in the USA- for VW this is 80% and for Mercedes 63%. Only Hyundai falls into this category with 65 percent and it announced a $21 billion plan for investment in the US including a $6.5 billion steel plant in Louisiana. All other foreign companies import about half or less of their sales into the US. VW and Mercedes could follow Hyundai in making the shift to making in the US. Honda makes 65% of its cars and Ford 80% in the USA. Peter Navarro, senior Trade adviser to DJT says-"foreign trade cheaters" countries  such as Germany and Japan, South Korea have turned America's manufacturing sector into a "lower wage assembly operation for foreign parts." Not said is that the Clinton, Bush and Obama administrations, the "smart" economists at Ivy League universities, and America's finance sector looked the other way as this destroyed industry after industry and American manufacturing, destroying America's foundations, its broad middle class.     ...

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More details about Akio Toyoda and his father Shoichiro Toyoda. Yoshi Inaba is expected to be akey advisor and Shoichiro will be advising his son, as the idea is to mentor him for the new position while the elder Shoichiro still is in good health. Akio is hands on, and likes to drop in without any publicity, anonymously, to look into how things are going and see for himself. He did this at an Ann Arbor dealership last summer, and has dropped in on Jim Lentz, a senior executive in the Americanoperations in the same way. He is unpretentious and can mix with younger exectutives and talks directly in English. He is expected to be more involved in the global operations of Toyota, to travel widely and introduce diversity into Toyota's executive ranks, which have remained Japan centric all these years for a company that is so global.

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Black or illicit money in India is estimated to be $400 billion to $1 trillion, much of it in the domestic economy. About 30% of land transactions are in black money, and it is growing with 500 and 1000 rupee notes increasing in circulation by about 79% and 106% between 2011 and 2016, according to government sources. The Narendra Modi government has announced that 500 and 1000 rupee notes will no longer be accepted in transactions as of midnight. People have 50 days to exchange them at banks, and banks will keep records so that this money can be taken into account for taxes due. A senior official in the Department of Economic Affairs, Mr. Das, says-"You cannot have a shadow economy representing a substantial percentage of the real economy." Big banks will be closed on Nov. 9, and ATM's till Nov. 11, 2016. Mr. Modi, the prime minister said in a televised address: "In the last few years the specter of corruption and black money has grown." He cited "the challenges posed "by threat of terrorism, the challenge posed by corruption and black money." ...

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Reince Preibus, former Rebublican National Committee chairman, has a law practice in Kenosha, Wisconsin. He is the new chief of staff for president Trump. Not much is said in this report on Preibus about his personal background, except that he has a close relationship with Speaker Paul Ryan, and that he initially gave Trump a 40 minute lecture to withdraw from the presidential race after the controversial tape involving remarks made by Trump was released. He was instrumental in winning the election for Trump by bringing in the party machinery to support Trump during the last 2 weeks of the election, and at the time in the closing days of the election considered the prospect of being Trump's chief of staff on the chance that Trump would win. He now models his behaviour with Trump to that of senior people who manage Trump's resort properties, says this report. The report also points out that president Obama had 4 persons in the chief of staff position, so that it is possible there could be a change at some point. ...

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Randall Quarles, a Republican Treasury official in both Bush administrations, is the choice for Fed Governor and Fed vice chair for supervision. He will be when nominated the senior person in charge of supervision of banks, a role played by Fed's Daniel Tarullo during the Obama administration. He has supported the view in favor of postcrisis regulations, yet warned against raising the cost of bank credit by requiring a big increase in bank capital. Quarles has worked at the Carlyle group private equity firm, graduated from Yale law school and is a partner at Davis Polk Wardwell law firm.

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The Wall Street Journal in this editorial says President Obama is negotiating deficit reductions with Republicans to gain an advantage in the 2012 presidential elections. Its view is that President Obama is offering Republicans a Hobson's choice: if they agree to raise taxes they would be giving up on a campaign pledge, and if the government shuts down and seniors do not get retirement checks in August letting the Republicans take the blame. For this reason it supports Senate Minority leader Mitch McConnell's proposal to give the President the authority to make the debt limit increase, and for Republicans to withdraw from talks on the deficit reductions that involve tax increases.

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Peter Coy of Bloomberg Business Week points out that the debt ceiling and proposed deficit reductions in the range of $4 trillion really obscure the real size of the problem which is much larger. The real problems hit when the U.S. faces a larger graying population by 2020 with sharply higher per capita health care spending; and at the same time workers from this generation retire and become beneficiaries of Social Security and Medicare with fewer younger workers to support the system with tax revenues. Another problem is that older Americans are likely as a voting bloc to vote themselves benefits that will cost the younger generation, benefits that the younger generation will not be able to enjoy. Even the Paul Ryan plan with its cuts to Medicare insulated todays seniors from the sharp cuts, as it becomes political necessity for both Republicans and Democrats to shy away from touching the current beneficiaries.

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The Congressional Budget Office analysis of the Republican House health Care bill shows 24 million Americans would lose health insurance over 10 years. In terms of budget savings the bill saves $337 billion over 10 years. The increase in uninsured comes from the roll back of expansion of Medicaid under the House plan, the reduction of tax credits, plus the removing of income based credits replacing it with tax credits based on age. President Trump is promoting the bill saying it will reduce the premiums that have gone up since Affordable Care Act was passed and increase competition. House Speaker Ryan in promoting his plan says he is not in "some coverage beauty contest." The House Plan says Ryan, does not mandate that all be covered, but simply says coverage is in a free market giving people the option to buy insurance that they want, so that the numbers of insured would not be as many as under a mandate.

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This exceptional account by WSJ's Shira Ovide on Microsoft Windows 10 looks at ways CEO Satya Nadella is changing Microsoft's culture and old way of doing business. Microsoft is changing its culture and strategy of charging for all its products. It will let businesses and individual buyers upgrade for free to the new Windows 10 product. This means $500 million less in sales revenues in 2015, but opens up new oppoortunities in sale of add-on apps and services on more devices, such as health sensors and smartphones. The failure to penetrate the smartphone business- with a meager 3% penetration for Windows in smartphones - is a problem facing Microsoft as it competes with Apple, Google and other companies. Terry Myerson describing the thinking behind this change at Microsoft puts it in a cultural perspective, saying that it should result in a more engaged user base. There is a sense that the space Microsoft is in stretches way beyond PC's to all the new computing devices now in place, including smartphones and other devices, with Windows taking up only 15% of these devices. Founder Bill Gates calls this "exciting" and is excited to see the reaction in the market....

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The role of stay-at-home husbands in the professional careers of women in banking. Women working in senior positions at Wells Fargo, Citigroup, Credit Suisse, JP Morgan and other banks describe their experiences in life with long hours, business trips and stay-at-home husbands to take care of home and children in a reverse situation from that of their parents.

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Steve Rattner, Obama's senior auto advisor, was the one who suggested Mr Whitacre for this position , and felt he would be the right choice to bring fresh thinking to GM. Steve Rattner knew Whitacre, and after board leader Kresa met with him 3 weeks ago he felt that he would be an excellent choice to bring back public confidence in GM.

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The US budget spending bills were delayed right up to a deadline- when government would lack funds to operate- on March 22. The US Congress had no choice but to agree on passage of the $1.2 trillion funding bill, yet only about half of Republicans 101 Republican House members supported it to pass 286-134. To get it passed at the last minute a 3 day opportunity to go over a 1014 page bill was suspended by two thirds majority. It was decided by senior members of Congress on the Republican side with Biden Democrats in a negotiation between Speaker Mike Johnson and NY Senator Pat Schumer. Additional funding was authorized for border immigration control- the Senate immigration bill that passed 70-30 in the US Senate changes the asylum and parole policies that are the root of the immigration problem at the US border with Mexico, yet it  remains stalled in the House as the Republican nominee for president has blocked it. The border will get 2000 more agents and more detention beds, increase in technology budget by 25% and a cut for State Department of 6%, as a temporary measure. A cutoff of funding for UNRWA refugee relief agency. Additional money was provided for child care programs and education with bipartisan support .  ...

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Britain has fallen way behind under Conservatives Tories misrule. On just about all indicators of the economy the US is ahead of Britain, on cost of living, on investment in infrastructure, on chips and science, on unemployment and on economic growth. The US economic growth was 2% compared to 0.5% for Britain.  Britain under the Tories over the last ten years lost so much ground fighting for Brexit and hurting it's economy. The Tory party is itself torn apart again today by Farage's Reform party, much of it from poor leadership- Cameron, Boris Johnson, Sunak. The result today is that Labour's Starmer says he has a 22 billion pound gap in the Budget that the Tories Conservatives have left him, a hole he says that will lead to Labour cutting winter fuel payment for pensioners this winter.  The US with president Biden is so far ahead of Britain with $1 trillion in investments taking place under the Inflation Reduction Act and $53 billion under the CHIPS and Science Act. Harris plans to build 3 million homes and offer $100 billion to small business to spur growth. There is just no comparison and owes much to president Biden and Harris, and to senior Republicans who supported the administration on the economy. ...

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The efforts of Governor Kim Choong-soo of Korea's central bank, the Bank of Korea, to promote younger managers to senior management positions leads to disagreement with colleagues. The changes were not well received by older managers because of Korea's cultural traditions of respect for age and seniority in management positions. The deputy governor of the central bank expressed his diagreement in a farewell speech recently.

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The US Senate voted 71-26 to ratify the new START treaty with Russia limiting nuclear weapons on both sides. It is a key part of rebuilding relations with Russia. In one of the last acts of the lame duck Congress, 13 Republicans including Senator Dick Lugar, a senior Republican who has been an influential voice for arms reduction, voted in favor of the treaty.

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Stephen Bannon the controversial adviser to president Trump is removed from the National Security Council cabinet level principals committee at the insistence of the National Security Adviser to president Trump, Lt. Gen. H.R. McMaster. In addition the chairman of the Joint CHiefs of Staff and the director of national intelligence, were added back to the principals committee of NSC, and the earlier decision to have them as occasional participants was seen as a serious mistake, with Mr. Trump having wanting to change this much earlier. Karl Rove was a senior adviser to president Bush, but like other advisers was not put on the National Security Council. The reversal of the Bannon appointment brings the NSC to its normal membership.This report in the NYT refers to the large role played by Mr. Bannon in the early days with Bannon pushing for the first travel ban that was struck down in the courts, and for the ultimatum in negotiations with the Freedom Caucus that worsened relations with Republicans in Congress. As a result Mike Spence stepped into a leading role in health care negotiations.  ...

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The publisher of the Wall Street Journal, Dow Jones & Co., is working to overturn a court injunction that prevents the public from seeing the Medicare billing records of individual doctors. Dow Jones & Co., filed court papers in January 2011, to overturn the court injunction. The American Medical Association has fought to keep secret the amounts of money individual doctors get paid by Medicare. The AMA filed a lawsuit against the government to keep secret these Medicare records, on the grounds of privacy rights, and won a court ruling in 1979. This court ruling still stands. The position of Dow Jones in its efforts to change this situation, is that giving the public access to the records is essential to the monitoring of so large a public expense as Medicare. These records would then be available to state medical boards, nonprofit organizations, universities and newspapers who can act as watchdogs over the $500 billion Medicare program. Such transparency and monitoring is an essential feature for the proper functioning of such programs and to prevent misuse of public money. For a program like Medicare, fraud and waste has enormous implications, as it adds to the spiralling cost of healthcare and to the unsustainable budget deficits. In one of the largest cases so far, the FBI, Justice Department, 700 state, federal and local agents, worked together to charge 114 defendents nationwide with Medicare fraud in February 2011. A senior law enforcemet official says Medicare fraud is so rampant, "there's no way in hell you can prosecute your way out of this problem, no way." He says the the answer is more effective monitoring of the money that goes out. And a key part of that is transparency and public access to how the money in Medicare is spent, what individual doctors and healthcare providers are getting paid by Medicare. The lack of this transparency for a program the size of Medicare can only lead to a lack of monitoring as the Dow Jones suit asserts, and make it difficult for the government to check abuses in the way money goes out. At a time when teachers and public workers and seniors are expected to make their share of the sacrifices to fix the budget deficits, it is incomprehensible that money should then be allowed to go out of the Medicare system through fraud and waste, because of a lack of transparency....

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The advanced technology on the Noble Bully 1 oil drilling rig in deep waters 140 miles south of New Orleans. It is jointly owned by Shell and Noble Corp. The technological improvements on the rig could only have been imagined a few years ago. A Eiffel tower shaped structure is completely enclosed in the rig compared to open derrick structures used on earlier rigs. The technology includes GPS, wind sensors, motion sensors, hydraulic systems, computer controlled thruster propellers on the bottom of the vessel to drill wells with precision. It can operate in water 8250 feet deep to 12,000 feet with safety upgrades, and upto 40,000 feet. A similiar ship Noble Bully 2 operates on the coastal part of Brazil. A new platform called Olympus will be a tension leg platform floaing on the sea like a cork, held together by tying it to the ocean floor using cables. The project is called the Mars B development. New sensors use seismic technology with devices closer to the ocean floor in the Gulf picking up data. The data is sent to Shell scientists working onshore and produces four dimensional maps of oil reservoirs using computer chips. The cost savings for the smaller structure include less steel and less fuel used, zero toxic emissions, and operating with 160 workers- 40% less workers than previous rig designs. Veteran drillers say its a lot better working environment and lot safer. Chief drillers sit in "drill chairs" and adjust the speed and direction of drill pipes using joy sticks and computer screens. It is this kind of technology that countries like Mexico, Brazil, Argentina and India need to develop their off shore oil fields, creaing new opportunities for oil companies such as Chevron, Shell, BP, Exxon and Total. The new technology equiped drilling ships, platforms and LNG processing ships are a way for Shell to reduce costs and improve capital efficiency, the new focus for CEO Van Beurden in 2014-2015....

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Toyota CEO Akio Toyoda, grandson of founder Kiichiro Toyoda, assumes new role just as net revenue is down 38% for the second quarter 2009, and a loss of $819 million. Akio says he is extremely frustrated with the situtaion and wants to start again from the ground up. With the restructurings at GM and Chrysler and focussed effort at Ford, efforts of Korean carmakers, and new competition from China and India looming, Toyota expects severe competition in the American and global markets. About 40% of Toyota's senior management has been retired or reassigned.Four of five executive vice presidents are new to their jobs, and only one Takeshi Uchiyamada, the product development chief is left from former CEO Watanabe's team. The outward looking Akio, whose background includes an MBA from Babson college in Massachusetts, and overseas experience including America, is likely to give the relatively insular culture at Toyota, a jolt. Under the new arrangement each of the executive vice presidents has been put in charge of a global region. One of the biggest problems Toyota will face say experts is the mundane looking lineup of vehicles bought mainly for reliability, just as competitors are making big strides in quality and new design, with new technology reshaping what the automobile might look like. The focus on the Tundra truck and SUV's like FJ Cruiser now looks misplaced. Yoshimi Inaba, a Toyota executive with experience overseas, will take charge of the American operations. Inaba says that without N. America, Toyota is unlikely to come back to global proficiency....