Spiralling health care and pension costs (as well as loss of market share) are crippling GM, which may have serious consequences for the housing market and, indeed, the entire U.S. economy.
"While most people think of GM as a car company 80% of its 2004 earnings came from GMAC, its financial division. While the auto divisions posted losses the finance division provided all of the profits. GMAC doesn't just do auto financing; in fact the majority comes from consumer credit, insurance and mortgage financing. This division provided GM with most of its profitability. Just as with GM, the financial industry was responsible for 50% of corporate profitability in the US. With rising interest rates and the prospect of increasing defaults by overleveraged consumers this is likely to change dramatically in the near future...GM's total consolidated debt was $301 billion on December 31, 2004. To put this into perspective this is almost as large as Canada's entire Federal Debt of about $363 billion. It is larger than the value of the US gold reserves of 512 million ounces, worth about $217 billion at $425/ounce gold."
Thanks to Michael Dudley
FULL STORY: General Motors, the Stock Market and Gold
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
U.S. Miles Driven Rose by 1 Percent in 2024
Americans drove a total of 3.279 trillion miles in 2024, but per capita VMT stayed the same.
Seattle Recorded Zero Bike Deaths in 2024, per Early Data
The city halved the number of pedestrian deaths compared to 2021.
Study: London ULEZ Rapidly Cleaning up Air Pollution
Expanding the city’s ultra low-emission zone has resulted in dramatic drops in particle emissions in inner and outer London.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research