Category Archives: Uncategorized

Goolsbee’s Folly

Today’s WSJ contains excerpts of an interview with Austan Goolsbee, the White House’s Chief Economic Advisor.  It contains a shocker.  Goolsbee reveals himself to be the ultimate government micro business planner.  Noting that firms are holding, “hoarding,” cash rather than investing he worries about takeovers.  Buyout … Continue reading

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GM Stock Trading Smells Funny

Am I alone or are there others who believe that the GM stock trading after the IPO last Thursday smells funny.  Whenever the stock drops close to the $33 offering price, sharp buying picks up. Any failure of the price … Continue reading

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The Missed Opportunity in the GM IPO

GM has announced that it will up the base price range by $4 and sell 30% more shares in its IPO scheduled for tomorrow.  The company’s struggle to find the right price and sell the right number of shares suggest a missed opportunity.  … Continue reading

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Selling QE2 to a Skeptical World

The G-20 summit found our financial officers attempting to sell Bernanke’s QE2 program to a very skeptical audience.  The audience, officials of our major trading partners, took the “looks like a duck…” approach:  QE2 is aimed at devaluing the dollar so that … Continue reading

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Who Saved GM?

There has been an amusing disagreement in the editorial pages over whether Steven Ratner (the car czar) or Rick Wagoner (the ex-CEO) are responsible for the operating profits showed by new GM.  Ratner published a self-congratulatory book on how his team saved the company, … Continue reading

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GM IPO

The US Treasury invested $50 billion for 61 % of the new GM in 2009.  In next month’s IPO, Treasury will sell enough shares to reduce its holdings to 43%.  The sales price, $26 to $29 a share, will lock in … Continue reading

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Hands Loses Suit Against Citi

After a three week trial, the jury took only five hours (just enough time to get fed) to decide against Terr Firma, a private equity firm, and in favor of Citigroup, his investment banker.  I was a show trial that featured two … Continue reading

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