The willingness of some in the media to accept even the most vapid of statements from international leaders as evidence of major policy change provides evidence daily that reporters, like the rest of us, can let their hopes get in the way of their judgment. A case in point is today’s editorial in the Washington Post by David Ignatius on the G-20 summit getting underway in Toronto. For Ignatius, President Obama’s recent letter to his G-20 counterparts, in which he called for restraint in easing government spending, fewer exports by …
The Obama Administration’s claims that General Motors — the federally-owned auto manufacturer — is independent from political entanglements is once again being tested, this time with an international twist. The issue is what to do with Opel, GM’s German-based European subsidiary (as well as the smaller, British-based Vauxhal). Last week, GM CEO Fritz Henderson presented to the GM board a plan to sell the two firms to a Canadian-Russian consortium. Surprisingly, however, GM’s board rejected the plan, asking Henderson to consider other options. Those option include GM keeping Opel, or …
