Daily Archives: April 30, 2009

John Gapper

Unlike Barack Obama and others, I have sympathy for the hedge funds and other investment funds that rejected the Chrysler restructuring offer and forced it into Chapter 11 bankruptcy.

In fact, not only do I sympathise with their argument, but I think they have a better chance of getting improved terms from the bankruptcy court than the US administration would have us believe. 

John Gapper

Well, I realise this is old hat for some but it is new to me.

I am writing this 35,000 feet up in the air on an American Airlines flight from San Francisco to New York, thanks to the inflight internet connection (which costs $12.95). Compared to the $10 the cabin crew are charging for a sandwich, I do not think that is bad. 

John Gapper

I do not think a decision to split the roles of chairman and chief executive of a company, which is a sensible thing to do, should indicate the end for the dual occupant. But that is often what happens.

Bank of America is putting a brave face on the narrow vote by shareholders to strip Ken Lewis of the bank chairmanship, but the fact that he resisted it so staunchly makes the outcome painful. 

John Gapper

My FT column this week is on the advertising industry: