Last week I heard it rumoured that General Motors would like to consider some sort of merger or strategic partnership with France’s Renault, and Japan’s Nissan. My first thought, upon hearing that news was that it sounded like a terrible idea – something along the lines of what SwissAir did back in the late 90s. Strategic partnership my ass. They eventually folded and were replaced by CrossAir. I’m not sure how they’re faring. My belief that such a partnership would be a terrible idea is basically derived from my belief (and the evidence) that General Motors is a terrible company. All the automakers have been seeing declining sales lately, in no small part due to the rising oil prices. But Nissan I believe makes some … Read entire article »

It’s my understanding that since the novel inception of the Automated Clearing House system and its now widespread use, that most checks clear almost immediately. Gone are the days when the check you wrote had to be physically transported to a clearing house bank halfway across the country. Given the use of this new technology, its inconceivable that banks “hold” the deposited funds until the check “clears,” because it’s cleared almost instantly. But I think this is still the norm at a great many banks – who require 5-7 days for availability of funds. The fact of the matter is that because of the ACH system, any witholding of deposited funds pretty much constitutes outright theft by the banking establishment. The only reason they would … Read entire article »

In Cuba, you can be imprisoned for exercising free speech. In the United States, we are still clinging to the vestiges of a once respected natural right of man. Nationally syndicated columnist Leondard Pitts reports on the doings-a-transpirin’ in Miami: “Two weeks ago, the Miami-Dade School Board voted 6-3 to ban from school libraries “Vamos a Cuba,” its English companion, “A Visit to Cuba,” and 22 other titles in a series of travel books for children ages 5 to 7. This, after a complaint from a parent who felt that the book, which contains such observations as “Many kinds of fruits grow in Cuba,” was inaccurate. In this case, “inaccurate” was a synonym for, “does not say that Cuba is a failed communist state where the president for life has … Read entire article »