April 2009

Remember the Chrysler TC?   Don't worry, few do and those who do wish they didn't. Today's Fiat / Chrysler deal is not the first time the now bankrupt automaker has partnered with an Italian car company.   Back in the mid-1980s Chrysler partnered up with (now Fiat owned) Maserati to build the "TC."  It was meant to help Chrysler enter the luxury market, but was really just a ... read more

Lost in the headlines about the Chrysler bankruptcy and Fiat purchase is that Fiat says it will use this to return to the North American market for its Fiat and Alfa brands.   It is already here with the Ferrari brand, but it wants a piece of the American mass market. ... read more

Next week I will be live at the Milken Global Conference in Los Angeles.    The conference brings together hundreds of the biggest names in business, politics and global leadership (why they invited me, I have no idea). Fox Business we will be there and I'll be interviewing more than 20 guests on Monday and Tuesday. Don't ... read more

Stories I'm reading this Thursday: Was Bank of America CEO Ken Lewis silenced by Paulson & Bernanke The bailout is a bargain (so far) Most GM plants will shut down for 9 weeks this summer Battle between Chrysler, government & bondholders takes another turn Another bondholder battle over the President's mortgage plan Fascinating read more

Story developing ...from the Wall Street Journal: David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide. WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac's chief ... read more

Stories I'm reading this Wednesday: The battle for Chrysler takes a turn for the worse The guy who asked Geithner the longest question (3 min, 31 secs) didn't even know his background Bond sales up as tax receipts tumble Survival manual for a possible bank nationalization Is North Dakota the new corporate capital of America? 1 in 10 video game playing ... read more

Not that familiar with the author but the article makes some interesting points. His first point has to do with the history of bubbles and post-bubble asset revaluations: 1. Bubbles do not re-inflate in the asset class which just popped.  It is simply a truism that bubbles never reflate, ever. Tulip bulb valuations did not rise to stratospheric heights after the Tulip Craze popped, and the ... read more

While Tim Geithner is updating Congress (and America) on TARP and banks, the International Monetary Fund came out with its own estimates globally. From the WSJ: U.S. and European banks need to raise $875 billion in equity by next year to recapitalize banks to a level similar to the pre-crisis years - and twice that amount to match the level of the mid-1990s, the International Monetary ... read more

Stories I'm reading this Tuesday: Tim Geithner weighs in on why banks' health not only TARP repayment factor Is the PPIP money subject to abuse? Why CEOs should decouple their pay from financial markets Alan Stanford swears there was no fraud Why bankers would rather work for nothing than $500k Has the recession ended in Britain? Surprise!  Nirvana not a hit with ... read more

We are a big nation and getting bigger.   Literally. Today on the show we debated the topic of United Airlines charging more for obese passengers.   Those requiring an extra seatbelt extender will now have to purchase an update or buy an extra seat.   Our guest said it was discrimination of the obese, airlines believe they need to do it to counter the extra ... read more