Today, It's Chrysler... Tomorrow, GM?

Making News

Obama to Crack Down on Corporate Offshore Tax Havens ()

By some estimates, $700 billion in American corporate earnings are parked in offshore tax havens out of reach for US tax collectors. Today, President Obama announced a plan to crack down "on illegal overseas tax evasion, close loopholes, and make it more profitable for companies to create jobs here in the United States." Tom Braithwaite is business and politics correspondent at the Financial Times.

Guests:

• Tom Braithwaite: Business and Politics Correspondent, Financial Times

Main Topic

Today, It's Chrysler... Tomorrow, GM? ()

President Obama says he does not want to run a big automaker, but the federal government could end up owning 50% of General Motors. In the meantime, it will own 10% of a new, multi-national company when Chrysler merges with Fiat, presuming, of course, that bankruptcy goes well. Big banks who've accepted billions in federal bailouts didn't have much choice when Obama demanded they take "haircuts" to keep Chrysler in business. But smaller investors, including hedge funds, said no deal, forcing Chrysler's reorganization in bankruptcy court. We hear about the economics and politics involving investors, unions, part suppliers and dealers. Also, what about the cars? Will American drivers change their ways and go European?  

Guests:

• Neil King: Reporter, Wall Street Journal, @NKingofDC
• Bruce Belzowski: Research Scientist, University of Michigan Transportation Research Institute
• Dan Neil: Pulitzer Prize-winning auto critic, Los Angeles Times, @Danneilwsj
• John McElroy: Host, 'Autoline Detroit'

Links:

• King's article on the impact of Chrysler bankruptcy on affiliates
• Neil's article on the uneven benefits of the Chrysler-FIAT merger
• Autoline Detroit on Fiat's bid for General Motors Europe
• Obama on granting California a waiver on greenhouse gasses, 'Which Way, LA?' on

Reporter's Notebook

Brain-Booster Drugs ()

"Every era…has its own defining drug." In the 60's, LSD and other banned substances were supposed to expand the mind. Now, just as athletes use steroids to make them more competitive, college students and white collar workers turning to so-called "neuroenhancers" -- prescription drugs that are being used for purposes different from those approved by the manufacturer of the FDA, to speed up their minds. That's according to Margaret Talbot in the current issue of New Yorker magazine.

Guests:

• Margaret Talbot: Staff Writer, New Yorker