Further to my column on General Motors, I wonder whether the US government’s bail-out of Detroit is fated to go the same way as that of Wall Street. The White House wants to keep out of day-to-day decision-making in companies, but Congress is another matter.
As the FT reports, the Senate commerce committee is already weighing in with pressure on GM and Chrysler to amend their plans to close local dealers. This is a long-running sore with Detroit, since dealers were protected (before Chapter 11) by state laws: Read more
My column in the FT this week is on Detroit: Read more
Bing, Microsoft’s rebranded and updated search engine, strikes me as a decent competitor to Google. It looks nice and the basic search results appear – although this is an impression rather than a scientific study – to be comprehensive.
Bing’s most distinctive feature is the technology it has employed for video search, which lets you watch a thumbnail version of a video by resting your cursor on it. Read more
This Wednesday turns out to be the 35th anniversary of the introduction of those machine-readable stripes now found on every packet and tin in every store.
Here is a brief history of the Universal Product Code according to GS1 US, the organisation responsible to administering (and updating) the system: Read more
I must admit defeat in my prediction that disgruntled senior lenders to Chrysler might gain backing from the bankruptcy courts for their challenge to the government-imposed debt restructuring.
Well, not exactly. In a rather poetic twist, Chrysler is due to exit from Chapter 11 today while General Motors goes into it and Arthur Gonzalez, a New York judge, has written an admirably clear ruling on why he did not accept challenges to the restructuring. Read more
I have a piece in the FT today on the General Motors bankruptcy:
In the end, they always blink. Governments have been forced into rescuing car manufacturers for decades and the Chapter 11 bankruptcy of General Motors differs only in its scale and design. Read more