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Here’s the President on the Michael Smerconish radio show today: THE PRESIDENT:  The auto interventions weren’t started by me — they were started by a conservative Republican administration.  The only thing that we did was rather than just write GM and Chrysler a blank check, we said, you know what, if you’re going to get [...]

In an earlier post I attempted to correct Dr. Austan Goolsbee’s incorrect and inflammatory statements about President Bush.  I would like here to add my views to one additional question on the auto industry discussion on this morning’s edition of Fox News Sunday. Host Chris Wallace moderated a discussion this morning with: Dr. Austan Goolsbee, [...]

This morning on Fox News Sunday, host Chris Wallace moderated a discussion about the auto industry.  One of his guests was Dr. Austan Goolsbee, who is a Member of President Obama’s Council of Economic Advisers and chief economist on the President’s Economic Recovery Advisory Board. I want to focus on some incorrect and inflammatory statements [...]

Many of you are new to this blog since I wrote extensively about autos six weeks ago.  As background, I coordinated the auto loan process for President Bush last fall as the Director of the White House National Economic Council (the position now held by Dr. Lawrence Summers).  I wrote a series of posts on [...]

In a few hours I will offer my thoughts and reactions to the General Motors bankruptcy filing and the President’s noon announcement.  For now, here is what I have been able to figure out from the White House fact sheet and secondary source reporting through CNBC and the Wall Street Journal.  I assume that both [...]

(Editorial note:  I was doing so well moving to shorter posts.  I fail miserably in achieving that goal here.  I went the comprehensive route instead.  I promise to return to shorter posts in the future.  Buckle up – this is a long ride.  I hope you find it’s worth it.) (Update:  There’s an important correction [...]

As a novice blogger I have been repeatedly surprised and humbled by the thoughtful comments posted on this blog.  I want to thank all of you who are contributing to a civil and thoughtful discussion. At the risk of offending some of you, I am going to push back on some of the comments to [...]

The President’s Chrysler announcement last Thursday produced mixed results. The agreement among Chrysler, Fiat, UAW, the Administration, and the large banks appears to increase the probability (from almost zero) that Chrysler will survive for the long run, albeit as a part of Fiat.  This is clearly a good thing. Is it worth the cost to [...]

Last Thursday the President announced a deal among Chrysler, Fiat, the UAW, the U.S. government, and several of Chrysler’s largest creditors.  Some creditors oppose the deal, and Chrysler entered a bankruptcy process that will attempt to resolve this dispute. The creditors left out of the deal are arguing that the Administration offered better deals to [...]

The Administration’s negotiations with Chrysler and their stakeholders have a Thursday deadline.  Friday’s Wall Street Journal reported a rumor: Chrysler and the UAW agreed in 2007 that the auto maker would put $10.3 billion into a union-managed retiree healthcare fund. Half of that would now be paid in equity, with the rest coming over time [...]