From the WSJ:
Investors in hedge funds run by Cerberus Capital Management LP, whose audacious multi-billion dollar bet on the U.S. auto industry went bust, are bolting for the door, clinching one of the highest-profile falls from grace of a superstar in the investment world.
Clients are withdrawing more than $5.5 billion, or nearly 71% of the [...]
China’s going out strategy is about to kick into high gear:
LOS ANGELES (MarketWatch) – The president of China’s well-financed sovereign wealth fund said his group plans a massive, ten-fold expansion of its overseas investment this year, according to reported comments from an interview Thursday.
China Investment Corp. President Gao Xiqing said the fund’s foreign holdings will [...]
The biofuels industry that has enjoyed so much political support is having some problems (via WSJ):
The biofuels revolution that promised to reduce America’s dependence on foreign oil is fizzling out.
Two-thirds of U.S. biodiesel production capacity now sits unused, reports the National Biodiesel Board. Biodiesel, a crucial part of government efforts to develop alternative fuels for [...]
The cash for clunkers program wasn’t much help to the two wards of the state known as GM and Chrysler (via FT):
General Motors and Chrysler sales under the US “cash-for-clunkers” car scrappage incentives fell well below the two Detroit carmakers’ recent market shares, according to the government’s final summary of the scheme, which ended earlier [...]
