Automobiles: The 2009 Detroit Auto Show
By Barry Ritholtz - January 14th, 2009, 11:15AM
Jerry Garrett surveys the show, where automakers envision an electric future.
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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January 14th, 2009 at 12:02 pm
Surviving out there? I hope so. It’s time to buy the banks. My target of S&P 820 in 6 weeks was very good.
Picking up a bunch of XLF. Seeya in 6 weeks.
January 14th, 2009 at 1:55 pm
The automakers are finally getting it. Gas is so 20th century. I should run friggin’ GM. I told ‘em not to crush the EV1, but noooo they didn’t listen. They said nobody wanted them. Of course they didn’t, you couldn’t buy them, only pay a rip-off lease. Nobody would want a Carolla either if it had a $500 lease. Now they have to start from scratch. I could have saved the taxpayers billions and had this car out 10 years ago!
To all the naysayers, I live in urban sprawl (closest public transit drop off from work is a full mile, so that’ s not much of an option) and have only visited a gas pump once since October thanks to the 1985 tank from detroit that now runs on electrons using 70’s era technology. The fun weekend car really just is a fun weekend car now. This really isn’t that complicated… Build the damn cars, take a loss the first few years, and start raking in the dough. That’s how R&D works. Have we forgotten how to develop new things in this country? But, but, it won’t pencil the first year and the bean counters will wet their pants!