Pundits greeted Angela Merkel’s convincing election win in Germany Sunday with a collective yawn. Commentators think the German economy is sluggish and over-dependent on exports, and believe that a change in the German government from a grand coalition to a center-right coalition will make little policy difference.
Asia is poised to become the “new” Detroit.
TARP May Cost Taxpayers $23.7 Trillion; Economists: Recession Not Over Yet; GM Gets 3 Bids for Opel; Defaults on Commercial Real Estate Hit 20-year High; Drug Company’s Stock Rises 276.81% After Successful Test; Porsche/Volkswagen Deal On Hold For Now; LEI Rises Again; AOL CEO to Revamp Advertising, Develop Community Sites…
SAIC Motor Co. Ltd., China’s largest carmaker and the partner of both General Motors Corp. (NYSE: GM) and Volkswagen AG (OTC ADR: VLKAY) in that fast-growing Asian country, plans to launch a series of hybrid and electric vehicles by 2012 – part of a move by China’s carmakers to meet the growing market demand for “new-energy vehicles.”
BEIJING, The People’s Republic of China – At a time when the rest of the global auto sales are experiencing their biggest declines in decades – and are set to drop at least 8% globally – the burgeoning China auto market may grow by 10% or more this year.
BEIJING, The People’s Republic of China – If there’s a recession here in China, I don’t see it. Granted, I just stepped off the plane here in Beijing a few hours ago, but already the city feels much more vibrant than I expected, given the dire reports that keep appearing in the mainstream Western financial-news media. The Beijing economy appears strong.
RBS Will Eliminate up to 9,000 Jobs; Mortgage Delinquencies Rise 7%; Rio Rebuffs Asia Steelmakers Discount Demands; Retail Sales Dive Sans Wal-Mart; Moody’s: More Than Half of Latin American Companies At Risk; CEO Confidence Hits Record Low; MGM in Talks to Refinance Debt; Audi Sales Fall in March
President-elect Barack Obama said Saturday that an analysis of his stimulus proposal found that the capital infusion could save or create as many as 4 million U.S. jobs by 2010, nearly 90% of them in the private sector.
MAN AG Buying VW Brazil Unit; Siemens Settles Probe for $2 Billion; Mattel Pays $12 Million for Tainted Toys; Ireland Banks Getting a Bailout; Housing Market Facing Confidence Collapse; Boeing Raises Dividend; U.S. Homes Lose $2 Trillion in Value
The fact that after over 30 years of consistent mismanagement and decline, there is still any discussion on whether or not we should allow the now significantly smaller “Big Three” automakers to fail is clear evidence that Washington has lost all common sense.