Entries by emptywheel

Car Recovery Czar Ed Montgomery Comes to Michigan

Ed Montgomery was named on Monday to serve as the Director of Recovery for Auto Communities. He seems like a better pick for auto issues than all the other people Obama has named. It remains to be seen, of course, whether having a Director of Recovery will minimize the pain the Mid-West is going through and will be going through going forward.

Share this entry

Nate Sez: It’s about Legacy Costs

Nate, who is more of a Michigander than I am, drew this not-pretty picture of GM’s operating margin over the last half century. He explains that this picture shows that GM has been using healthcare and pension promises to put off the time it registers these real costs on its balance sheet as a way to get the benefit of labor but put off paying the true costs of it.

GM was

Share this entry