Daily Archives: June 3, 2009

31 year old in charge of ruining capitalism

Glenn: But first I want to spend some time on GM, and sometimes there’s a story that is so good that you just have to read it verbatim. Usually you don’t say that coming out of the New York Times, but this story is so good that I have to read it verbatim. Dateline Washington. It’s not every 31 year old in a first government job that finds himself dismantling General Motors and rewriting the rules of American capitalism, but that in short is a job description for Brian Deese, a not quite graduate of Yale Law School. Continue reading

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Judge to rule on Chrysler franchise terminations

This whole thing to me sounds like some one wants to control prices, where dealers can’t price a car so they dicker on a price.

They make a good point the manufacturer does not own the dealers, this sounds more like some one else is behind closing down dealers.

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By BREE FOWLER, AP Auto Writer

NEW YORK – A bankruptcy judge will rule Wednesday on whether Chrysler can terminate the franchise agreements of 789 of its dealers as part of its ongoing restructuring.

U.S. Judge Arthur Gonzalez is expected to hear testimony from Chrysler LLC executives, as well as dealers during the hearing. Continue reading

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