CNBC just out: The First Portfolio Manager, who today also became the First HR Manager of General Motors, is quoted as saying he wants to split GM into a "Good" GM and "Bad" GM, thus cementing his spot as The First Company Ethics Arbitrator. Not sure what exactly would fall into "Bad" GM, but we have our money on the Pontiak Aztec making the list. Lastly, in yet another total shift in strategy, the administration was quoted as saying bankruptcy is currently the preferred outcome for the Detroit automaker.
With Obama now willy-nilly hiring and firing CEOs and deciding which companies should be placed into bankruptcy protection, we are very excited about the enthusiasm of hedge fund managers to participate in any governmentally sponsored programs for the foreseeable future (this of course excludes such prominent "private" figures as Bill Gross and Larry Fink).
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