Marketplace Off Air
GM gets the 'Pelosi bump'
House Speaker Nancy Pelosi came out in support of General Motors on the “too big to fail” side, and it paid off — Bloomberg is reporting that GM rose in New York trading today. From the article:
“It’s truly one of those companies that’s too big to fail, and everybody understands that,” said Nariman Behravesh, chief economist at IHS Global Insight Inc. in Lexington, Massachusetts. “If it does collapse, it could make the recession deeper and longer.”
Incidentally, Nariman Behravesh was on Marketplace last week talking about what he thought were top priorities for the economic bailout. The auto industry wasn’t one of them.
- November 12, 2008 — Melissa Kaplan
- 5 comments
Latest Posts
- Keeping your gig
- Devastating job losses
- Going Down Under
- Oil skids
- Preventing foreclosure
- Highland Fling
- Fewer jobs, fewer buyers
- Paulson's new plan
- Dubai Eight Months Later
- Show me the money...
- Pink slips
- Goldman Sachs as online bank
- GM vs. Toyota
- Showdown for the showroom
- Random recession note...
- In case you've been wondering...
- Two charts...
- How bad is it at General Motors?
- The Whiteboard: How credit cards become asset-backed bonds
- Just wait for the hearings on this...
- Here's why Paulson bailed on the TARP...
- How's it going at your workplace?
- If you've been wondering...
- I'm pretty sure this is bad...
- Well, THIS is interesting...
- You've been wondering how we're going to pay for the bailout?
- If you're keeping score
- Not so easy...
- Visual guide to the financial crisis
- German prudence great for rainy days
- Obama meant it about C02
- GM gets the 'Pelosi bump'
- Some good news in the fight against AIDS
- What's your workforce strategy?
- Google leaves Yahoo deal
- Winner gets a bad economy
- Dressing up for the crisis
- We're running up an 'eco debt,' too
- Bizarre HSBC bank ad
- Dow closes up nearly 900 points
- Show me the money
- Wait 'til Bernanke sees THIS!
- Most House members' campaign cash from outsiders
- Gold ain't glimmering
- Getting naked in short selling
- Strauss-Kahn apologizes to IMF for scandal
- A look inside Marketplace
- A spoonful of sugar...
- Stand Up and Face the Music
- What are we talking about?
- Morning reading...
- Oh, the irony...
- Take the money...
- The credit crisis as Antarctic expedition
- I thought this was great...
- You must be joking . . .
- Two useful nuggets and one shameless plug...
- Now, how to put this on the radio...
- Untangling credit default swaps
- Everybody's talking...
- Can he DO that?
- I.O.U.
- Chewing on the credit crisis
- The power of youth...
- How do you say 'too big to fail' in German?
- 'Twas the Night Before...
- Crisis explainer: Uncorking CDOs
- What would you ask if you had the chance?
- How did this happen?
- Don't look now...
- If you've got some spare time...
- Hitting Close to Home
- Show me the money
- Senate Bill...
- I know who'd pony up
- Think about this for a second...
- What's good for Warren Buffett...
- Raise your hand...
- Fundamentally speaking...
- Brackets for the meltdown office pool?
- Plenty of alternative ideas for getting out of this mess
- If at first...
- Revenge, rather than stopping the bleeding
- Goldman Sachs gets big boost from Buffett
- More victims of the Wall Street crisis
- What's your opinion on the bailout?
sponsor






Comments (5)
November 12, 2008 8:08 PM PT
Anything for a shilling. Thus, Nariman Behravesh is a shill’, apparently recently hired by the automotive industry as Center for Automotive Research (read: industry shills) weren’t getting their message across with a subtle acronym like CAR.
November 13, 2008 6:17 AM PT
I though this was capitalism where industry pays for tooling cost and executive pay? We are producing crappy products (import 80% from 3th world) charge a premium and still can not retool. Perhaps we need new executives with lower pay and higher morals.
November 13, 2008 7:37 AM PT
I think this financial bail out is a crock of s**t! I don’t want my tax dollars used to bail out the lot of THIEVES in the financial district. These THIEVES created the problem by taking advantage of the consumer with their GREED, hush, hush don’t ask, don’t tell lending practices. I worked in escrow and was “forbidden” to disclose to the consumer that they were about to sign away everything they worked hard for, just to be put on the barrel and foreclosed upon.
I agree with Mike but it should not stop there it should include all of congress and any forturne 500 companies who consistantly rape their employees of any dignity or better yet measly wages that do not match the cost of daily living.
All this talk about creating jobs and how it starts with small buisness yet we are allowing the good for nothing government to force feed the citizens of the UNunited states a trillion dollar bill to save the large corporations with lay-offs in the thousands, so much for bailing out small business and creating jobs.
November 13, 2008 12:42 PM PT
GM has been working for the better part of 10+ years to cut costs, and come up with that much better car to compete with the foreign car makers. no luck yet, and they are fading fast, to the tune of $2B in losses each month. how can we afford to finance a black hole of cash? and for how long? as i recall, americans used to ridicule the Europeans for taking the same approach on Air-Bus, and I don’t think they make money yet either. doesn’t the financing of a losing proposition go against every idea behind the capitalist idea?
November 14, 2008 11:45 AM PT
The auto makers should not get one dime of my taxpayer money. It is a total joke that they are even being talked to. These people had over 25 year to come up with a better product instead they spent all of their money on lobbying against increasing the CAFE standards and alternative energy cars, while other countries were coming up with viable alternatives. No, because they refused to be proactive or move forward, they are being left behind and we are supposed to make up for their ignorance with our hard earned money. Forget it, let them go under. That is true capitalism, where if you don’t have a sound product then you cease to exist. They can go into bankruptcy and them reform, hopefully for the better. That last thing this economy needs is capitalistic profits, which they had for a long time and socialized losses!