International -- Readers Report
Analysts Should Put Their Money Where Their Mouths Are
In her otherwise fine commentary, "Can this man make Wall Street behave?" (American News, Apr. 22), Marcia Vickers approves the new policy of Merrill Lynch & Co. barring analysts from buying stock in companies they cover. On the contrary, analysts should be required to purchase stocks they recommend (after the fact, of course). This may prevent "analysts" such as Henry Blodget from urging the public to buy stocks that they truly believe, as revealed in internal e-mails, are "such a piece of crap."
Edward M. Syring Jr.
Gulf Stream, Fla.
Image Problems for GM
Some readers suggested that Cadillac can't cut the mustard in quality, style, and performance ("Can GM save an icon?" The Corporation, Apr. 8). In Australia, General Motors Co. has just relaunched the two-door Monaro. I bought one--despite sneering friends telling me that BMW was the way to go. My Monaro has red paint; black-leather interior; electric everything; a six-speed, 320-hp V-8 engine; and an exotic shape.
If I weren't so dutiful a husband, and my wife, Heidi, so alluring, this machine could have profound consequences. If GM can beat the competition in Australia, why not in America?
Richard A. Craig
Melbourne
GM, one of the largest companies in the world, makes it clear that it is worried because its cars and trucks are bought mainly by urban dwellers (that is, blacks) and old white people. I was really impressed with the Cadillac CTS--it still turns my head. I even wondered why rappers liked the Cadillac truck so much. At auto shows, I would often walk right past GM cars, but the videos and rap songs made me take a second look. However, I am totally turned off by GM and its attitude. I will stick with car companies that want and appreciate my business despite my urban background.
Michelle A. Belgrave
Robbinsville, N.J.
Weighing in on the New Cars
Congratulations to Larry Armstrong on his gentle and fair test report on the new Mini Cooper ("Big enough to turn heads" (BusinessWeek Investor, Apr. 22). I have had the pleasure of owning one for just over six months, and I can only say, great fun. Boy, this car does turn heads. Moreover, tell your American readers that it was an American who designed the new Mini: Frank Stephenson presented his prototype Mini to the BMW board in 199406 and emerged as the winner.
Ed Preiswerk
Zurich
I had to laugh at your coverage of the new Honda Civic hybrid car ("A mean green machine," BusinessWeek Investor, Apr. 22). While it is a step in the right direction, its performance is no better than that of my midsize 17-year-old Volkswagen Jetta diesel, which also has a lot less equipment to break down. The Europeans are regularly producing five-passenger diesel cars getting 80 miles per gallon.
John Fitzhugh Millar
Williamsburg, Va.
Will Work for Reasonable Pay
"No wonder CEOs are so unloved" (Editorials, Apr. 22) is right on the mark, but it fails to indict the co-conspirators: the directors who approve these egregious pay schemes for good performance, much less for shallow performance . The pay contracts they negotiate and approve limit the speed and extent to which such excesses are correctable. Rather than wait for CEOs to speak up, as you suggest, we should be hearing about boards of directors who work to correct the situation by finding CEOs willing to work for reasonable pay. There are plenty of them out there, many in successful companies that develop their own leaders.
Joseph H. Piper
Houston
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