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TTAC Commentator H82w8 On Obamas Auto Industry Intervention

784371999 TTAC Commentator H82w8 On Obamas Auto Industry Intervention

The U.S. government (ostensibly representing “the taxpayers”) is right to insist on conditions to the second round of federal loans to Chrysler and GM. As always, the devil is in the details. As always, the government has put politically motivated strings onto every moving appendage in this latest example of federal largess. The fundamental

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“Jetzt reicht’s!”

Today, Berlin will re-attempt to save Opel after the disastrous Wednesday night / Thursday morning confab. From most accounts, that meeting was a remake of The Three Stooges, with the actors sent by central casting in Washington and Detroit. Berlin is still fuming about the “impertinence” (finance Minister Peer Steinbrck) of the junior

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Opel Soon Set Free?

1769045097 Opel Soon Set Free?

There are growing indications that GM’s “surgical bankruptcy” is imminent. They are already scrubbing down the surgical theaters around the world. The operation may just happen within a few weeks, and the “good brands”/”bad brands” not-so-final solution will create another mushrooming government agency

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The Man Who Would Be Czar

372966293 The Man Who Would Be Czar

Point three of Barack Obama’s ethics pledge to the American people is that “no political appointees in an Obama-Biden administration will be permitted to work on regulations or contracts directly and substantially related to their prior employer for two years. And no political appointee will be able to lobby the executive branch

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Britain Makes Scrappage Schemes Euro-nanimous

1352867336 Britain Makes Scrappage Schemes Euro nanimous

Britain’s recently presented budget contains a new vehicle scrappage incentive, making Old Blighty the final major European economy to jump on the alleged “green stimulus” bandwagon. Thirteen other European nations, including France, Germany, Italy, Spain and Poland, have introduced similar measures, which provide government

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Complexity Sucks

1886067733 Complexity Sucks

Ever heard a movie hero say, “It sounds simple, but it just might work!”? Humans have a natural tendency to over-complicate problems and, thus, devise inherently delicate solutions. Have a look at Operation Eagle Claw, the 1980 Iranian hostage rescue attempt. Or, consider the upcoming Presidential Task Force on Autos. The PTFA will

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There May Be a New Buyer for Opel. Get a Mirror

75855026 There May Be a New Buyer for Opel. Get a Mirror

As time goes on, Opel’s chances to be rescued by an outside investor are dwindling. A member of the German government’s Opel Task Force told Reuters on Thursday that negotiations between GM and the two competing bidders (RHJ and Magna) for Opel could drag on longer than expected. The way it looks, the deal may never

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Mr Whitacre Goes To Washington

1025701310 Mr Whitacre Goes To Washington

GM’s government-installed Chairman/CEO Ed Whitacre hasn’t been wildly popular with Detroit insiders, earning dismissive raspberries from more than a few corners of the industry’s peanut gallery. But now that his reign of executive terror is over, Detroit seems to be learning how to stop worrying and love the former AT&T man.

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What They Knew Before They Loaned the Money

589307779 What They Knew Before They Loaned the Money

TTAC proofreader and Editor Jeff Puthuff has been helping me chase down the Chrysler–Cerberus story, trying to identify the automaker’s secret co-investors. In the midst of that pursuit, Jeff has unearthed this heretofore unreported document: “U.S. Motor Vehicle Industry:Federal Financial Assistance and Restructuring” Dec.

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Support Your Local Junkie

897768356 Support Your Local Junkie

Bankruptcy is more than a financial reckoning. It’s a psychological way-point, from “we’re doing our best” to “re-do.” Let’s call that middle point “we blew it.” That’s not too harsh, is it? I mean, if Chrysler and GM didn’t blow it, they wouldn’t be bankrupt. Oh wait;

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