General Motors: An Emblem of a Potemkin Economy
Thinking Things Over March 11, 2012 Volume II, Number 10: General Motors: An Emblem of a Potemkin Economy By John L. Chapman, Ph.D. Washington, D.C. There were no private investors or companies out there willing to take a chance on the auto industry. Nobody was lining up to give you guys loans. Anyone in the financial .. read more
GM CEO Forced To Resign; Obama Rejects Bailout… For Now
General Motors and Chrysler seem to be running out of support in DC. In today’s speech, President Obama questioned the viability of both companies, saying more concessions were needed from stakeholders, while still emphasizing that he was “absolutely committed” to the survival of our domestic auto industry. Via MSNBC: President Barack Obama refused further long-term federal .. read more
Multi Decade Lows for Some Stocks
There were 555 new 52 week lows on the NYSE today. Several iconic American corporations hit multi year or multi decade lows: Bank of America (BAC) 18 Year Low
The Big Three?
Via MSN Money: The heads of Ford, Chrysler and GM — once called the Big Three due to their dominance of the industry — went to the Congress seeking $50 billion in federal aid to help them ride out the crisis. “The U.S. government’s actions to help stabilize the credit markets and eventually ease the .. read more
