Are the Detroit big three at last starting to get realistic about the long-term level of car sales in their home market?
Having pumped up light vehicle sales volumes to a peak of about 17m units a year with cheap credit, they have been hoping against hope to bounce back quickly from sales of about 11m in 2009. Read more
These are very tough times for the business jet industry. The now infamous trip by the heads of the Detroit big three to Washington on board corporate jets to plead for cash from the US government has caused a backlash against private travel.
Here comes a fightback: two groups involved in US business aviation have now launched a campaign to improve the industry’s image. The campaign is called “No plane. No gain” and even has its own web site. Read more
So Sir Allen Stanford has been accused by the Securities and Exchange Commission of a “massive fraud” involving his Antigua-based bank, which took in $8.5bn on depositors’ money and claimed to be investing it in safe, liquid securities.
Reading the SEC’s complaint against Sir Allen and two of his employees, James Davis and Laura Pendergest-Holt, a couple of points spring out for investors. Read more