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POPSNew Car? Thank You Taxpayer! Let me get this straight... taxpayers are keeping GM afloat. And now GM is keeping its customers afloat... with taxpayer dollars. Huh?
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POPSNew FTC Chairman This is the buried news of the day, but a big deal for FTC watchers. It was expected that Obama was going to name a new chairman, but the delay was starting to puzzle some, particularly as the president weeks ago tapped former FTC commissioner Christine Varney to head the antitrust division of the Department of Justice, the other agency to scrub proposed mergers.
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POPSNet-Zero Gas Tax Well-reasoned argument for raising gas tax by $1 while gas is cheap and reducing FICA taxes by $14 a week. Revenue neutral to Fed gov, saves the planet and we starve enemy oil producers of revenue.
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POPSStump Staple: Bashing Free Trade National Journal's Peter Cohn details just how dirty the words "free trade" have become on the campaign trail. Story notes that in one ad from the Democratic party, Elizabeth Dole, a Republican U.S. senator representing North Carolina, is referred to as "the senator from China."
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POPSDefense Contractors Get Jitters Lockheed Martin, Raytheon, and General Dynamics all get mentions in this Washington Post story. Pair the story with our item earlier this month on an aerospace trade group's approach to the budget: http://www.forbes.com/beltway/2008/09/30/aerospace-defense-washington-biz-wash-cz_atg_0930beltway.html
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POPSAdam Smith Meets Climate Change I don't follow the debate on how to create carbon markets as closely as I'd like. But this is an interesting idea about dividing emissions permits into two classes--for people helping and people really helping. Another thing worth pointing out is that even if Brazil, India and China didn't sign on, they'd still end up adapting many of the technologies that carbon markets would force. Carbon caps, for example, would accelerate progress toward more efficient solar power. But once that technology is there, and the price is lower than hydrocarbons (which most people in the solar industry, at least, believe will happen) then it will make sense for India to slap solar panels on all their roofs too.
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POPSObama Takes Careful Aim at Contractors Government Executive story covers a recent Obama speech on his approach to government contracting. Further down in the story, there's cautious approval from trade groups representing government contractors. "It's certainly not a harsh assault on the public-private relationship," said one. Welcome words, no doubt, to many companies on our Forbes Beltway Index http://www.forbes.com/fdc/beltway/fbi.html.
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POPSRon Paul On Oil Prices And Free Trade
The Council on Foreign Relations caught up with former presidential nominee Ron Paul last week, who attributed high oil prices to misguided foreign policy and inflation. He also passionately affirmed his pro-free trade stance. The interview is a lively read!
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POPSU.S. Senate Approves Highway Trust Fund Fix Road builders lobby breathes a sigh of relief, for now. The bill had been passed by the U.S. House of Representatives, but, because of a technical modification in Senate-passed version, it now goes back to House. Road building trade association notes that it and 22 other trade groups and labor unions wrote a letter yesterday in support of the Senate bill.
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POPSGoldman Cuts View On 5 Top U.S. Investment Banks Tanona recommends a trade in which investors buy Morgan Stanley shares and sell Citigroup shares short. He says Morgan Stanley is one of the brokers best positioned for a market turnaround, while Citigroup will remain heavily exposed to mortgages and consumer credit issues.
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POPSBeauty Buyers Trade Down Sally Beauty says that its doubled profits can be partly attributed to buyers letting go of favorite "designer" beauty brands and replacing them with cheaper alternatives.
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POPSWhere Doctors Get Information According to doctors, according to a survey conducted by the drug industry's trade group that Ed Silverman at Pharmalot.com wrote about this morning. One interpretation is that sales reps aren't that influential. The drug industry trade group, PhRMA, is going with that approach. The other interpretation is that doctors don't realize the influence visits with drug industry sales representatives have on them. There's no way this survey could tell the difference.
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POPSIllinois To Sue Countrywide And CEO Mozilo This is the first known case of a state authority charging Countrywide, the largest U.S. mortgage lender, for actions related to the housing crisis. It also comes on the same day the company's shareholders are expected to vote on its sale to Bank of America.
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POPSWhat A Veto Threat Really Means Sure, President Bush opposes Congress' foreclosure rescue plan because it's a bailout, but there's another reason for the veto threat--leverage. Here's a good take on the issue from Politico.com
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POPSBuffett For Obama With the economy sure to be a major issue in the coming election, Obama may want to play up an endorsement from one of the world's sharpest businesspeople.
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