General Motors has submitted its 37-page “Restructuring Plan for Long-Term Viability” (a.k.a. request for an $18 billion bailout) to Congress. There’s still a lot of defensive hey-we’re-already-totally-competitive-so-just-lay-off stuff in it (16-17 pages worth, I’d say), and of course a lot fuel-efficiency-is-job-one stuff to appease the Democrats from the coasts (another 10 pages, maybe). But that [...]
Alan Mullaly will be driving in a Ford Escape hybrid. Rick Wagoner will travel in a Chevy Malibu hybrid. Bob Nardelli hasn’t figured out how he’ll get there yet, but taking a private jet is out of the question. It’s not quite carpooling in a minivan, as I suggested they do a couple weeks ago, [...]
You may have noticed that yesterday was a rough day for the market. And last week had gone so well, too. Shoot. This morning I was talking to some folks over at the electronic trading platform Liquidnet, and one of them pointed me to a Citigroup report that lends nice context to the recent volatility. [...]
Having made the argument a couple of months back that repealing the Glass-Steagall Act was a good thing because it allowed J.P. Morgan Chase to buy Bear Stearns and Bank of America to (maybe) buy Merrill Lynch, I’ve been feeling a little guilty about not having revisited it yet in light of Citigroup’s troubles. So [...]
