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Economy Life

GM, Jay Leno

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GM is going to file bankrupcy. This was not expected 6 months ago. But it’s a reality now. Many people blame the UAW, the management for the problems at GM, which I think only tells part of the story. GM was doing fine after Sept 11, remember the 0% “Keep America rolling” Ad campaign? (Paula Gardner opinion, Nov 20, 2008 ) The main problem, I think, is GM increasingly dump cars like cabbage, while trying to make money from the finance division (GMAC). This business model is not sustainable because it’s mostly relying on cheap credit (and arguably GM car buyers have worse cosumer credit compared to foreign make buyers). When credit dried up after Lehman bankrupcy last fall, GM’s car sales plummeted.

Keep America Rolling GM Ad Sept 11

Jay Leno

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video

CBS 60 minutes

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It appears CBS 60 minutes have hit two runs in a row. Last Sunday they had current Fed chairman, Ben Benanke on the show. This coming Sunday, they will have President Obama. Also, Mr. Obama is going to appear at Jay Leno’s Tonight show this Thursday 3/19. Those two shows (I mean 60 minutes vs. Tonight show) are totally opposite in terms of their style: 60 minutes is usually serious while Jay Leno’s late night talk show is light hearted.

With the leaders started appearing in public, talking up about the economy, maybe the worst of the financial crisis finanlly is over? 🙂

Watch CBS Videos Online

(CBS 60 minutes show last Sunday, about 43 min in full length. I include the full show because I think the other topic eat healthy is also VERY important).