Sunday, October 05, 2008

Mergers and Acquisitions III

We're in the midst of a hyper round of mergers and acquisitions, which reminds me: why do banks have such weird names? One of the weirdest must be Fifth Third Bank. You've got to wonder (it provides a clue to earlier mergers, certainly). How about Charter One Bank? That one makes little sense, actually, especially since it really seems to be owned by the Royal Bank of Scotland.

Basic transparent names seem only to match with credit unions. Does anyone else prefer credit unions to commercial banks?

Deteriorating economic conditions helped sink the George Bush, Sr., presidency in the 1992 election. Anyone over age thirty (besides Sarah Palin, perhaps, even though she's 44) will remember Pan Am (Pan American World Airways), and realize it no longer exists except as a cultural memory (as in the defunct logo above), since it went bankrupt in 1991. Would anyone be surprised if one or more major airlines goes under within the next six months? On the ground, how about Chrysler? In any case, don't be surprised if Eastern Air Lines goes under. Oh, wait: they already went under in 1991, too.

The economic crisis endured under Bush I led to a Bill Clinton victory in the 1992 US presidential election; don't be surprised if today's Über-crisis under George Bush II helps inspire a majority of voters help make Barack Obama the next President of the United States. Let's just pray that nothing like Clinton's Monica Lewinsky scandal transgresses in the next four years. Instead, we will need a real Hundred Days of action a la FDR.

Forget about Pan Am and Eastern. The next president is going to have to hit the ground running.

Today's Rune: Defense.


Charles Gramlich said...

Reminds me of something I haven't thought of in ages. when I was a kid I had a couple of model commerical air jets, one was TWA and the other Pan Am. Hadn't thought of that in a long time.

the walking man said...

I asked. Fifth Third is an amalgam of two banks that merged a hundred years ago. Fifth bank of something or other merged with Third bank of somewhere or another.

I suppose that Obama may think with his penis, I doubt it, but he is a young man.

Just to keep the record straight the national deficit rose to almost the same percentage of GDP during Clinton as it has during Bush, the difference being that Clinton also reduced it to near the same level as were seen during Carter before he left office. There was a graph in yesterday's Free Press.

And that is the bush legacy, no plan. No plan for the war, the economy, the banks, no plan for anything. Just rush in where even fools would fear to go and BLAM! Let's see if the egg fries on the sidewalk, to hell with the stink.

Andrew said...

let's hope that the guy who'll have to hit the ground running can actually RUN, eh?

couldn't imagine john mccain playing a round of half-court bball against barack obama without collapsing...maybe he's got a good 3 ball though. doubtful.

in other news, its raining @ MSU today. Lightnin' Hopkins' "rainy day blues" sure does alleviate the stuffiness! if ever get to see the texas plains, i think i already can feel what they look like.

obama was here last week! couldnt see him though----math exam...dang...well, i can always tell the grandkids another story, eh?
hahaha have a great one, DFrance!

JR's Thumbprints said...

Commercial banks? I've got my Raymond James accounts, my gov't securities, etc... I avoid the middle man as much as I can.

Johnny Yen said...

I was checking the various polls today to see what the response the "swing voters" had to Palin's "palling around with terrorists" stupidity was. They answered: Obama stayed at 50% and McCain dropped back down to 42%. As they said in the first Clinton campaign, "It's the economy, stupid!"

Remember in "2001: A Space Odyssey" that the rocket transport that brought Dave Bowman to the moon was a Pan Am rocket? I remember thinking about that in 1991 when Pan Am went under. Not only did they not have rocket transports by 2001; they didn't even exist any more.

Lana Gramlich said...

Oh, HELLS no! Not least not 1st. Ford more than deserves that fate. The only domestic cars I've ever had that were any good were Chryslers! Ford blow dead goats.