It Takes One To Know One

NYT argues GM engineered its own downfall

Ten years before Chrysler introduced the world to minivans, General Motors had already developed its own version. Toyota sold the Prius at a loss for years before it became popular while GM leased a fleet of electric EV1s for three years before deciding it would never turn a profit. Honda and Toyota both sold small, efficient vehicles for decades even though their sales were relatively small and profits less than stellar. Meanwhile, GM spent billions to establish Saturn to compete with small import cars, only to let the brand go five years with no new products.

At least that’s the way this New York Times story looks at GM’s recent history.

They should know… 

Tribune (Almost) Toast, New York Times Next?

More startling over the past year has been the collapse of the New York Times (NYT). The New York Times Company has a $400 million debt payment due in five months, and management has not yet explained how it plans to meet this. The company is nearly out of cash, its operations are now burning cash, and its attempts to sell assets have, so far, been unsuccessful.

My my. What ever (sniff sniff) would we do without the New York Times?

2 thoughts on “It Takes One To Know One

  1. Jeepers, don’t they have a stable full of columnists who are also economic geniuses?
    Time to kick them upstairs. It’s the next best thing to making David Dinkins CFO!
    To give you an idea idea of the pure intellectual horsepower we are talking about, Krugman won the Noble prize in economics for formalizing the economics that underlay the success of protectionist economic policies. But he’s not a nativist, though. He hates those guys.
    And St. Louis Park native Tomas Friedman? He’s very, very big on going green. Battery powered cars for everyone! It will create jobs!
    Due to the wealth Friedman has married into (his wife is a shopping mall heiress) Friedman has the financial independence it takes to be a truly independent judge of what is best for this country — and the NY Times — to prosper. It’s difficult to have the greenies adopt you as one of their own when you make a living off of pulped trees and your wife’s money came from extending suburbia, especially considering that you live in a 12,000 sq” house on a seven acre lot in a crowded part of the country, but Friedman’s ‘green’ credentials allow him to move effortlessly through the circles of Earth First!’ers, ELF’ers and other main stream environmentalists.

  2. They just wanted to get the scoop on the StarTribune. Be the first to insolvency! I’m shedding tears as well, for both of them, crocodile tears.

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