If the US and General Motors have similar flaws and indeed symbiotic fates, they appear to be conjoined primarily by the un-competitiveness of their existing labor cost structures and the onerous burden of their future healthcare and pension liabilities.
June 5th, 2009 | Bill Bonner | 5 comments | ContinuedAll Posts Tagged With: "General Motors"
Oil and Gold Prices Linked for Most of Recession Period
In recent weeks, both have been in a stage of recovery. The gold price has reached $982 an ounce, close to its peak when it touched $1,000 an ounce. Oil prices fell in the recession by about 70 per cent, and have now received about 50 per cent.
June 4th, 2009 | William Rees-Mogg | 0 comments | Continued
GM Insolvency Can’t be Run-of-the-mill
GM is owned by wealthy politicians in Washington who, under threat of imprisonment, forced their constituents to finance the deal. Insinuating the public has any control is “Orwellian in the extreme” Addison suggested when we discussed the matter late Friday. Amen.
June 2nd, 2009 | Ian Mathias | 0 comments | Continued
USA Follows the Same Downward Slide As GM
The experts say the company is going broke. “Chapter 11 looms,” says a Bloomberg report. Investors sold the stock down to $1.15 – a price GM hasn’t seen in more than 70 years. At that price you can buy the whole company for $700 million.
May 14th, 2009 | Bill Bonner | 0 comments | Continued
Days of Privatizing Over as Government Takes Charge
In the newspapers there is much discussion of what General Motors should do. This discussion has gone on for many years. Until now, it was a conversation carried on by serious analysts and auto industry experts.
May 5th, 2009 | Bill Bonner | 3 comments | Continued
Bye Bye General Motors
Pontiac is going out of business after 82 years. And General Motors is being taken over by the government…
April 29th, 2009 | Bill Bonner | 4 comments | Continued
A Depression With A Capital ‘D’
Thus saith Mr. Michael Geoghegan, head of HSBC, the world’s biggest bank. HSBC bought America’s “Household Finance” for $15 billion in 2003. Now, it wishes it hadn’t. The U.S. unit ‘destroyed’ $10 billion in capital, says the bank.
March 4th, 2009 | Bill Bonner | 5 comments | Continued
Come And Get It!
General Motors just reported a loss for the fourth quarter of nearly $10 billion. You can see what good it does to bail out failing companies…the money just goes down the drain. The government gave GM more than $13 billion – there goes the bulk of it.
March 2nd, 2009 | Bill Bonner | 0 comments | Continued