Covering Home Base:
- China now has reputation for poor quality control.
- Chinese manufacturers usually elect to cut costs rather than obey rules.
- China is second largest vehicle manufacturer.
- Imported designs are usually a bust for U.S. carmakers.
- GM should let Koreans design small cars, Europeans design medium-size ones, leaving US engineers to trucks and SUV's.
- Rule Number One for any business is to hold onto home market.
CNN Money:
- The Fed cut its federal funds rate, an overnight lending rate banks charge each other and that helps to determine the rates for many types of consumer loans, to 4.75 percent.
- The market's interpretation: more rate cuts could follow later this year.
- "I wouldn't say a big rate cut was the wrong thing to do. And I don't think they did this to bail out borrowers and banks. The Fed was able to do cut rates because inflation pressures are coming down," Stine said.
- Wallstreet responded well, but could be missing the point: The economy is worse than thought.
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