Obama folks drive foreign

Treasury Secretary Tim Geithner is no dummy - he owns a 2008 Acura TSX. White House Economic Advisor Larry Summers has a 1995 Mazda Protégé and Budget Director Peter Orszag drives a 2008 Honda Odyssey. Politico surveyed West Executive Drive, where White House staffers park, and found only five American cars out of 23. All right, it's a little on the gotcha side, but doesn't it speak volumes about the failure of the U.S. auto industry? By the way, the new CEO of GM, Frederick A. Henderson, says that bankruptcy was "more probable" than ever. Sounds like a foregone conclusion. From the NYT:

We will either do it out of court or we will do it in court," Mr. Henderson said, "but we will get the job done in terms of recreating and reinventing General Motors as a competitive enterprise, one that wins in the marketplace."

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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