In a good, lengthy article, author Alex Taylor of Fortune Magazine reviews the GM corporate culture and the efforts at “fixing” the company which have been made over the last two decades or so.
“After three decades of covering the auto industry, I’ve learned that Ford (F, Fortune 500) executives tend to be scrappers skilled at [...]

Call it a honeymoon, call it a result of Obama’s known, solid choices of the members of his economic team, call it a statistical bounce resulting from an oversold condition. Whatever it is called, the markets are way up and headed further up, for a big pop. Again, I am in no way [...]

Hot on the heels of last week’s devastating slide in its stock value, now comes the news that Citigroup will be rescued by the federal government. The rescue plan which was hammered out over the weekend is similar to the one which almost happened with Wachovia when Citi was going to buy Wachovia. [...]

The number of unemployed jumped at its highest rate in 16 years. The jobless rate is at a 14 year high. Thus, the Congress has extended unemployment benefits – perhaps figuring in part that it might help consumer spending in December, which would benefit the economy at large.
“More than 1.2 million jobs have [...]

Despite all of the money and all of the deals between the big banks and the Federal Reserve and the Treasury Department which have taken place in the last year or so, the market continues to fall and the prices of bank stock as a specific case in point also have continued to fall. [...]

Yesterday, the Dow fell 430 points to close below 8,000 for the first time since March of 2003. It has been down this morning so far some 200 points to swing back up for a loss of only 80 points or so at present. If the past is any indication, the last few [...]

Primarily due to the fast drop in the prices of oil and gas, the latest statistics show that there has been the largest drop in consumer prices in 61 years.
“Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.
The Labor Department said [...]

“But why?
Why was Wells Fargo so eager to ante up a deal that was leaps and bounds sweeter than Citi was willing to pay? After all, Wells Fargo has a stellar reputation of keeping underwriting standards in check, so why would it want anything to do with a shoddy bank drowning in subprime mortgages?
Taxes. It [...]

My apologies to Neil Simon for that title. It is hard to keep up with all the economic news and even harder to put it into some perspective. This is especially true since as to many of these events, no one knows the full story and the story changes as the bailout de [...]

One of the economists which I look to for information and advice is Dr. Marc Faber. Here is a quote from his latest market Commentary dated November 1, 2008:
“What I want to make perfectly clear is that Mr. Bemanke’s inept monetary policy actually increased volatility and led to greater losses compared to what would have [...]