How a fire in a small German town threatens to cause a worldwide car shortage. "When a fire in the small town of Marl in the west of Germany closed down an obscure chemical plant on 31 March, it barely made headlines."
Now according to a recent IHS Automotive report
, "shortages of the obscure component are 'likely to be serious.'"
"The rich are different than you and me."
A new study out of the Harvard Business School suggests that frequent use of luxury goods and services may encourage a narrower, more self-interested view of the world. Here's a link to the report itself
. (Achtung! it's a PDF.)
TARP investments yield 15% returns.
Almost trom the start, critics characterized the TARP program that first began under the Bush administration and that continued through early this year under President Obama as a taxpayer funded giveaway
, while government officials insisted it was a long-term investment program whose initial costs would eventually turn a profit as economic recovery began. Now the NY Times reports that the program has already yielded $4 billion in profits, and a separate report reveals that related Federal Reserve loan programs aimed at economic stabilization have returned $14 billion in profits