Technology & Media

Reading Carol Loomis means never being surprised by anything

By Justin Fox | May 28, 2009 | +

Time Warner to Spin Off AOL, CNet News, May 28, 2009
AOL+TWX=??? Do the math, and you might wonder if this company’s long-term annual return to investors can beat a Treasury bond’s, Carol J. Loomis, Fortune, Feb. 7, 2000

GM Said to Plan for June 1 Bankruptcy, Sale of Assets, Bloomberg, May 28, 2009
The Tragedy of General Motors: The Detroit giant is a weird, scarred combination: a carmaker doing poorly, and an insurance company engulfed by its obligations. It’s heading for a wreck–which is why CEO Rick Wagoner has the toughest job in business, Carol J. Loomis, Fortune, Feb. 6, 2006. Sample quote: “Bankruptcy isn’t going to occur next week. But down the road–say, past 2006 –its probability is high.”

A.I.G. Says Revamping Could Take 3 to 5 Years, New York Times, May 13, 2009
AIG’s rescue has a long way to go: When will the government’s costly bailout of the deeply distressed insurance giant be over? Don’t expect it to be anytime soon, by Carol J. Loomis, Fortune, Dec. 29, 2008

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  • curmudgeon57

    I agree completely with your proposition, Justin. I’m currently re-reading her 2006 GM story, and I just can’t get over the fact of the auto workers’ expectation (nay, entitlement) of getting far better health benefits than just about anyone in the US outside of Members of Congress. At some point GM stopped producing cars, and started being a benefits provider.

  • curmudgeon57

    Just finished re-reading the GM story. I once again can’t get over the baldface greed of the GM stakeholders – Wagoner, Smith (both of them), Stempel, the GM board (how come they aren’t yet indicted?) and to a lesser extent Gettelfinger and the UAW – and how they have raked America over the coals. This is seriously good stuff that Carol wrote three years ago (at an age at which I will likely be dead).

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