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Filed under: Hirings/Firings/Layoffs, GM

Headhunting firm Spencer Stuart is without doubt on the speed-dial lists of bailed-out firms, having placed chairmen, CEOs, Chrysler Group LLC, and board members for AIG, Citigroup Inc., Freddie Mac, Fannie Mae, and GMAC. Then they flew over General Motors so that Ed Whitacre, Jr. could heli-drop in. Now, The Wall Street Journal is reporting that GM has chosen Spencer Stuart to assist it in locating a permanent CEO to take up the position from Whitacre.

GM’s list of requirements makes it clear they’re looking for someone bionic, having “extensive global, manufacturing and turnaround experience.” The new person should also have solid credentials working with Asia, since GM believes it will move more metal over there than in the U.S. next year, and the prospective bigwig doesn’t need to come from within the auto industry’sranks.

No national preference has been put forth for the new CEO, only that he or she be “global minded.” Perhaps the most important proven attribute they can bring: the ability to restore morale. It’s an impressive list, but that’s frankly the kind of CEO we would expect GM to require anyway, regardless of its economic and market position. And it does kind of make us wonder if Alan Mulally could simultaneously run two carmakers…

[Source: The Wall Street Journal]

REPORT: Spencer Stuart tasked with finding new GM CEO originally appeared on Autoblog on Tue, 08 Dec 2009 16:20:00 EST. Please see our terms for use of feeds.

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We had Harvard professor Ken Rogoff on TechTicker today.  Ken’s the dean of financial crises…

President Obama today unveiled several initiatives aimed at rebuilding the nation’s job market. Unemployment hovers at 10% as of November.

But our guest, top economist and noted bear Kenneth Rogoff of Harvard University, forecasts more headwinds. “It’s hard to see the kind of robust recovery that’s really going to generate the 10, 11 million jobs that we need to get back to where we were before it started,” says Rogoff, also co-author of a new book, “This Time Is Different: Eight Centuries of Financial Folly.”

While admittedly surprised by November’s stronger-than-expected jobs report, Rogoff predicts employment “comes back very slowly” and the unemployment rate will remain elevated for several years. 

Rogoff and co-author Carmen Reinhart of the University of Maryland make the case that the “this time it’s different” argument doesn’t hold water, based on financial history. Too often boom periods are marked by excessive accumulation of debt and overspending, whether by consumers, banks or the government. Sound familiar? Indeed. And Rogoff says the current economic rebound is “eerily similar to average [recoveries] of past post-war crises.”

In a one-on-one with Aaron and Henry, Rogoff offers a muted short-term forecast for the U.S. economy:

• Jobs: Rogoff forecasts American worker incomes won’t return to peak levels until late 2011.
• Housing: The government is propping up the sector and real estate in fact still is declining “gently,” Rogoff says, not improving.
• The stock market: Many investors have been caught off guard by the rally since the March lows. But Rogoff says markets often return to peak levels two or three years are a crisis, as investors opt for riskier investments amid near-zero interest rates.

Plus, stay tuned for Rogoff’s thoughts on how to create American jobs and “make work” programs (such as those proposed today by Obama on highway, bridge and infrastructure projects). 

Join the conversation about this story »

See Also:

• Ken Rogoff: Banks Profit By Levering Up On Implicit Taxpayer Guarantees
• The Ken Rogoff Study That Tim Geithner Refuses To Read
• Rogoff: The Worst Is Over? Are You Kidding?

NBC Universal is probably wishing that people didn’t remember stuff from a few years ago right now. The folks over at the National Journal dug up NBC Univeral’s vehement opposition to the AOL/Time Warner merger, which used all sorts of arguments that I would imagine NBC Universal would prefer were not used against its pending merger with Comcast. The letter, sent to the FCC in July of 2000 included this point:

“Given the size and scope of the proposed merged company, AOL/Time Warner will have both the ability and the incentive to discriminate against unaffiliated content providers such as NBC.”

Furthermore, NBC Universal was quite worried about how that deal would impact net neutrality and asked the FCC to make clear net neutrality principles if it allowed the merger to move forward, asking the FCC:

“to establish firm principles of non-discrimination in the treatment of unaffiliated content providers in the broadband services marketplace”

Of course, Comcast is now very much against that concept.

Not surprisingly, the letter was signed by NBC Universal’s General Counsel, Rick Cotton, who has a long history of sticking his foot in his mouth in saying things he later regrets — such as his still hilarious quote about how corn farmers were being harmed by movie piracy, and who was a major source for the bogus Hollywood propaganda piece on 60 Minutes. Still, you have to imagine that he now regrets that letter — and the fact that reporters have now brought it back to light.

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Japan’s getting Final Fantasy XIII next week, but it seems some people just couldn’t wait to find out how the game fares in the eyes of reviewers. Just recently, Japanese gaming magazine Famitsu’s review of the game’s

I have a bunch of smaller thoughts today, so I figured I’d write them up rather than focus on any particular topic. I’m pretty sure I have… wow, shinny object… some kind of undiagnosed ADD.

Google Goes after the Work at Home Scammers

A few months back, I wrote about the Google Work at Home Scam. Companies were using Google’s good name to try to seem reputable and trick people into giving them money. I noticed this morning that Google is going after them. They found a great example of one of the scammers using a site that looks like a newspaper site from a Los Angeles. At least we might see the end of it soon.

Last Week to take Advantage of CollegeAdvantage’s free $50

It’s the last week to get your free $50 from CollegeAdvantage and it only takes a few minutes. It expires on December 15th, but let’s face it, if you don’t do it today, it will probably get pushed aside during the craziness of the holidays, right?

The CrunchPad JooJoo looks cool, but…

Also from CNet, this moring, I read about the JooJoo web pad. It’s pretty close to what a friend and I thought would be a big hit… in 1998. For those who don’t know about it, it used to be the CrunchPad developed in collaboration with TechCrunch, but that relationship somehow desolved. The product itself is just a big 12″ screen that’s almost like an iPhone, but it only browses the web. You can have it in your home for $499.

CNet noted that there isn’t much of a market for such a device. It’s not made for students, businessmen or any demographic they could think of. It costs more than a netbook, but does less since it’s limited to browsing the web.

I’ve been thinking about it, and really something like this may be the next step for a company like Palm. They could put their new WebOS on it so that it can do more than just browse the web. They also could use their partnership with cell phone companies to provide more connectivity than just WiFi. If they could get it down to a Palm Pixi-like price of $25, subsidized by a monthly subscription it could work… as long as the monthly subscription is closer than $10 than $40. I don’t know if this is a price where it becomes profitable to Palm, but it would push their WebOS platform out there to a new set of people, which may sell cell phones and applications in the future. I’m going to get crazy and suggest that perhaps it could sync with my WebOS phone and bridge the gap between my home computing experience and my mobile computing experience.

Why Palm and not Apple? Well, Apple is rumored to come out with one of these as well. However, I think Palm’s WebOS is better suited for the new resolution since the web technology it’s built on is designed with diferent screen resolutions in mind. More importantly though, the multitasking ability of the WebOS would allow it work much like a full fledged computer. Also WebOs should be getting Adobe Flash soon and that’s becoming key for using several websites effectively.

Related posts:

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Filed under: Crossover, Hyundai

Hyundai began the first wave of media drives for the new 2010 Tucson today in California after unveiling its latest crossover at last week’s LA Auto Show. As part of the presentation before heading out, product planning chief Scott Margason announced that the completely redesigned model will have a starting tariff of $18,995 when they start rolling into showrooms in the coming days.

At launch, the Tucson will only available with the 2.4-liter Theta II four-cylinder, although a 2.0-liter four will join the lineup later in the year. The bigger four will be available with either manual or automatic transmission choices, both with of them six-speed units.

The base price gets you a GLS model with three pedals and front wheel-drive. All wheel-drive is optional, but not much else is. Hyundai has packaged everything into two trim levels, the base GLS and the upscale Limited plus an available premium package that includes a navigation system, sunroof, and other niceties for $2,850. A maxed-out all-wheel drive, automatic Limited with the premium pack will run $28,695 (*plus $795 in freight charges). Including the transmission and drive options, there are only ten buildable Tucson equipment combinations for 2010, not including color choices and dealer-installed accessories. The first batches of 2010 Tucsons are on the way to dealers now, but if you can’t wait, you can check out the softroader in our high-res gallery below and the official press release with pricing breakdown after the jump.

[Source: Hyundai]

Continue reading Hyundai prices 2010 Tucson crossover from $18,995*

Hyundai prices 2010 Tucson crossover from $18,995* originally appeared on Autoblog on Tue, 08 Dec 2009 15:58:00 EST. Please see our terms for use of feeds.

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If you’ve got any Mac users in your life who haven’t upgraded to OS X 10.6 Snow Leopard, we think it’s time you give them the nudge this holiday season. Snow Leopard is faster, leaner, and more intuitive. It’s also simple to install, and even hits the user back with some freed up hard drive space. The best part, though, is the price. Snow Leopard is just $24.99 at Amazon. Here’s the price breakdown:

• Snow Leopard Upgrade: $24.99 (14% off)
• Snow Leopard 5-User Family Pack: $43.99 (10% off)
• Snow Leopard Mac Box Set: $149.99 (11% off)
• Snow Leopard Mac Box Set Family Pack: $199.99 (13% off)

Tags:
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SEE LINKS TO PHOTOS & VIDEOS BELOW!

On November 30th, 2009, 10 years after the historic shut-down of the WTO meetings in Seattle, people again made their voices heard on many of the pressing issues we face today.  As protests, teach-ins, and civil disobedience took place around the country on Mobilization for Climate Justice’s Day of Action at Westlake Park in Seattle multiple groups rallied, demonstrated, and took action at noon for climate justice.  Street theater lampooned the current regime’s failure to include or empower people in solutions to the climate crisis, as the COP15 climate talks in Copenhagen loom large, highlighting the need to organize globally and make those voices heard.

Much of the focus was on Chase and Bank of America, two of the major funders of the coal industry and the controversial practice of mountain top removal mining, and two were arrested after a lock-down civil disobedience protest at the Westlake branches of each bank, calling out both banks as “Climate Criminals” (for more information, see Rainforest Action Network’s great resources here).  The Yes Men supported an action exposing the truth of Bank of America’s stance on coal and mountain-top removal funding, as two official-looking bank representatives addressed the cameras and the crowd promising clean coal while reaffirming a commitment to their shareholders’ bottom line.

At 1:30, a contingent of fair trade activists marched to Rep. McDermott’s office with hundreds of signed postcards from constituents, encouraging him and other congresspeople to take a stand for workers’ rights worldwide by supporting the TRADE Act.  The TRADE act is an alternative to the failed NAFTA model of free trade, envisioning what a truly just trade agreement might encompass.

After more music and performance from the stage at Westlake, the Washington Immigrant Rights Action Coalition held a march to Pacific Place mall in support of about 100 janitorial workers who are being unfairly treated and fired by Seattle Building Maintenance. People entered Pacific Place to chant, sing, and express their disgust with the mistreatment of workers, and were escorted out by mall security.

You can see video of the climate justice actions here, here, and here, and some great pictures of the whole day’s events can be seen here and here.

Here’s a fantastic chart from Moody’s, courtesy of David Goldman, showing the ratings trajectory of various Western developed countries.

Basically, Switzerland is the only country not to be racing headlong into the purple — non-AAA — zone.

Says Goldman:

Under US government projections, debt service will exceed 10% of GDP by 2013, which means that by one measure the US will move out of AAA territory. But the UK, Germany and France will be headed in the same direction.

If I am correct that economic weakness continues unabated through the next couple of years, the situation will be considerable worse than the Moody’s graph suggests, and governments will have difficulty funding themselves at today’s extremely low interest rates.

This should be good for the dollar, and good for gold.

Alternatives to the dollar will start to look worse, and alternatives to currencies (namely gold) will start to look better.

Read the whole thing >>

Don’t miss: 10 Contries Most At Risk Of A Sovereign Default >>

Join the conversation about this story »

See Also:

• Moody’s Says US And UK "Test" The Limit Of Their AAA Ratings — Pound Tanks .4%
• Deutsche Bank: Beware Sovereign Defaults And The End Of The Dollar Carry Trade In 2010
• After Dubai, Is Greece Next?

Filed under: Audi, Chrysler, Ford, GM, Lexus, Toyota

J.D. Power has released its 2009 Sales Satisfaction Index, and 29 of 38 brands improved their standing versus last year’s numbers. The industry watchdogs at Power say that sales people improved the most over 2008, which isn’t surprising given the fact that fewer vehicles are flying off dealer lots and every customer is a precious commodity. Even with the improved standing versus 2008, J.D. Power says that brands still lost 12% of sales on average due to poor service at the dealer level, a statistic that could have automakers cringing.

Jaguar took top luxury honors for the second straight year with an 898 index score, beating second place Cadillac by a scant five points. J.D. Power says Jaguar excels in both salesperson interactions and the handling of the dreaded financing/paperwork. The top five rounds out with Lexus, Mercedes Benz and Land Rover. Audi performed most poorly of any brand studied, while Infiniti and Volvo also fared poorly.

Mercury was the top non-luxury make with a score of 867, followed by Smart, Buick, Pontiac and Chevrolet. Mercury reportedly scored well on all five categories tested, though we’re a bit puzzled how Mercury could beat Lincoln by four points in spite of the fact that the two makes usually share a common dealership. Japanese and Korean brand-dealers scored poorly in the survey as Honda, Toyota, Nissan, Kia and Mazda all scored below the industry average of 832.

General Motors and Ford dealers fared very well in the survey, with all of their brands except Lincoln coming in over the industry average. Chrysler brands, however, did not do as well, with all three makes falling under the industry Mendoza line. Mitsubishi was by far the worst dealership to deal with, with an industry-low 778 index score. Hit the jump to read over the J.D. Power press release and click on the gallery below to view the survey scores for both luxury and mass market offerings.

[Source: J.D. Power]

Continue reading Jaguar, Mercury tops in J.D. Power 2009 Sales Satisfaction study

Jaguar, Mercury tops in J.D. Power 2009 Sales Satisfaction study originally appeared on Autoblog on Tue, 08 Dec 2009 15:40:00 EST. Please see our terms for use of feeds.

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It’s that time of year again – time for holiday treats, Christmas cookies, big retail sales and jingle bell-centric music. It’s also time for Baking Bites 2nd Annual Holiday Cupcake Contest! I kicked off this contest last year and enjoyed seeing everyone’s creative holiday entries so much that I’ve decided to make it a tradition.

All you have to do to enter the contest is take a photo of your favorite holiday-themed cupcakes and submit it to the Baking Bites Holiday Cupcake Contest Flickr Pool (accounts are free, though you do have to sign up). You can submit multiple entries and any holiday-themed cupcake is eligible, whether they’re homemade, made by a friend, seen at a coffee shop or from a favorite cupcake bakery. Look for anything festive, from reds, greens and blues in the sprinkles and frostings, or santas and snowflakes as decorations. Good photos of tasty cupcakes are what we’re looking for here. If you bake your own, or know the recipe that was used, link back to the recipe in the comments of your submission so others can try it out.

There will be one Grand Prize and one runner-up prize, both great gift baskets of baking related stuff! All submissions must be in by December 23rd at midnight, so that gives you a couple of weeks to track down every holiday cupcake you can find. Winners will be chosen by an anonymous panel of judges.

Filed under: Classics, Convertible, Performance

We recently drove a Superformance Cobra MkIII R and loved it. The looks, the power, the feel – just a wonderful, special vehicle. Perfect? No, and we said as much. “[T]urning the wheel reminds you that the chassis layout dates back to the 1950s, if not earlier.” Still, we were tickled by the straight line thrust. Truth be told however, we’ve experienced faster. If only someone would build a Cobra with even more power (remember the MkIII R has “only” 520 hp) and modern suspension.

Meet the CB/1. First thing’s first: under the fiberglass hood sits a twin-turbocharged/intercooled Ford 385 V8 good for – get this – 650 horsepower and 640 pound feet of torque. Put that in your ZR1 pipe and smoke it. Speaking of smoking it, all that fury iS routed through a Porsche 930 5-speed transaxle. And the whole enchilada weighs just 2,600 pounds. The results? Zero to 60 miles per hour in a blistering 2.85 seconds and the quarter-mile in 10.5 at 135 mph. Whoa doggie, right? And the suspension is more than up to the challenge, pulling 1.15 lateral Gs. Full specs, after the jump.

[Source: Bell Engineering | Photos: Jeff Hartman]

Continue reading CB/1 Cobra replica demands stronger adjectives

CB/1 Cobra replica demands stronger adjectives originally appeared on Autoblog on Tue, 08 Dec 2009 15:20:00 EST. Please see our terms for use of feeds.

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The U.S. should take a cue from China and replicate whatever secretive “Cash 4 Clunkers” program they’re using, because the auto industry is booming in China.

(Oh right, their secretive program is called being a gigantic emerging market with nearly 10% GDP growth)

Sales of passenger cars are up 98%….in November alone:

WSJ: November’s passenger-auto sales rose 98.2% to 1.04 million units, data from the China Association of Automobile Manufacturers trade group showed Tuesday.

The robust growth was also the result of a low comparison base. In the same month last year, passenger-vehicle sales fell 10.3% from a year earlier to 522,800 units, the steepest decline for 2008.

Overall vehicle sales in China last month rose 96.4% from a year earlier to 1.34 million units.

Read the rest of this story >>>

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See Also:

• China Executes Rogue Trader
• What Hangover? November Auto Sales Actually Solid
• Ford Will Open A Third Chinese Auto Plant (F)

Just a quick note to announce a new Silver Sponsor of the SharpBrains Summit, and link to a couple stimulating online conversations.

The Institute For the Future is an independent, nonprofit strategic research group with more than 40 years of forecasting experience. The core of our work is identifying emerging trends and discontinuities that will transform global society and the global marketplace. We provide our members with insights into business strategy, design process, innovation, and social dilemmas. Our research spans a broad territory of deeply transformative trends, from health and health care to technology, the workplace, and human identity. The Institute for the Future is located in Palo Alto, California.

I have been collaborating informally with IFTF projects for a few years, and it is exciting to collaborate on the upcoming Summit and related work.

Now, two stimulating links:

1) Encyclopedia Britannica Blog is hosting an online conversation on Multi-tasking:

“Multitasking—remember when that was something computers did? They were supposed to do it for our benefit, to make our lives easier, but somehow it hasn’t quite worked out that way. With fast computers, the Internet, and smart phones in our pockets, today we’re always tethered to The Network, and sometimes it seems we’re doing its bidding instead of it doing ours. There’s so much to do, it comes at us so fast, and it all has to be done now. The solution: forget what you were taught about doing one thing at a time and start doing several things at once. Call your office from the expressway. Bring that Blackberry to the meeting. Answer e-mails over dinner. Multitask.

Of course, whether multitasking really is efficient is a matter both of public debate and clinical research, and it’s just one of the questions we plan to get into next week in a new forum on the subject here at the Britannica Blog.”

You can participate Here.

2) For extra brain & mind reading, you can visit  yesterday’s Encephalon edition at The Mouse Trap. Enjoy!

The first piece of art from the recently-announced Dead Space 2 has hit the ‘Net thanks to Game Informer. See, the mag’s going to feature the game in its next issue. Hit the jump to see Isaac’s