Good Day, Bad Day
Safe investments, media endorsements
OOD DAY FOR: Safe investments, as Ford announced that it will try to fix Volvo—its safety-conscious, money-losing Swedish subsidiary—rather than sell it. “The best way Ford could support them is to give them the budget and the autonomy to let the folks at Volvo be Volvo,” said Ron Pinelli of Autodata. (The New York Times, free registration required)
BAD DAY FOR: Media endorsements, after homebuilder Toll Brothers CEO Robert Toll blamed the housing slump on bad press coverage. Toll said that of the record 39 percent of homebuyers who backed out of their orders last quarter, 17 percent “just wanted to walk.” He added, “Translation, they’ve read one too many Times articles, and decided now is not the time to buy a home.” (The New York Times, free registration required)
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