“Certainly the task that we have in front of us is large, but we know that we can get it done. Today it’s more probable that we would need to resort to a bankruptcy process. But there’s still a possibility and an opportunity for it to be done outside of a bankruptcy.” GM Chief Executive ... Read more

The British Pound has imploded on fears of bank nationalization and Prime Minister Gordon Brown’s plan to give the Bank of England unprecedented powers to buy securities. This chart paints the not so pretty picture. British Pound vs. US$ Monthly Chart click on chart for sharper image T ... Read more

The car czar is a joke, a way to get a few billion dollars to GM (GM) and Chrysler while they move their companies in better shape for certain Chapter 11 filings. The two car companies are not likely to get what they want from the UAW, suppliers, and creditors without some kind of fight. Wh ... Read more