Toyota has seen better months than February when the automaker recalled millions of vehicles amidst a sticky pedal and unintended acceleration problem that led to sales decline of 8.7 percent. To win back the consumer, Toyota offered incentives including extended warrantees, auto maintenance plans and zero percent financing, and it …
One of today’s great Chicago architects likes to critique buildings by asking: “If this is the answer, what was the question?” It cuts to the chase. Imagine standing before this…thing and applying the above critique. The question becomes: “Can you build me a poorly lit maximum-security prison tower to live …
“A Conservative,” that anonymous scribe within Heritage, surfaces again for the second time in three days with a cautionary tale for the Big Three about Henry Ford, FDR and Big Government strings. This latest edition of New Common Sense, titled “Ford Faced Down FDR’s Blue Eagle,” reads as follows: Out …
Last night while marshaling votes for the House’s eventual 237-to-170 vote in favor of nationalizing Detroit, House Majority Leader Steny Hoyer (D-MD) told the Wall Street Journal: “If we do nothing we face the risk that sometime soon there will be no American auto industry.” Hoyer has it exactly backward. …
Lynne Kiesling highlights these daunting numbers from David Yermack’s WSJ piece: • GM and Ford are two companies that made the most money-losing investments in the 1980s; between them they “destroyed $110 billion in capital” in the decade, according to an analysis from the careful and renowned economist Michael Jensen. …
As discussed in Senior Research Fellow in Regulatory Policy James L. Gattuso’s recent blog post, the House this week approved a new $25 billion loan program for Detroit automakers, and the Senate is expected to soon follow suit. The loans are to develop alternatives to conventional fossil fuel powered vehicles …
