Banks & Autos: A Global Wave of Consolidation
New York | Over the past several months, news reports have suggested that the global auto industry is about to disappear. Ford Motor (F) announced a 10 percent reduction in executive ranks earlier this year. Daimler AG (DAI) has just announced additional job cuts. Analysts blame consumer angst regarding global warming and the imminent conversion of the industry to battery-powered electric motors. But sad to say, we think that politically motivated climate change hype inspires