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Obama and Hu in Beijing: Pledges of cooperation but few concrete agreements Jason Reed/Reuters

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GM Picks Up Speed

Sure, it's not cruising at 70 mph, but at least this looks like forward motion. On Nov. 17, General Motors' first financial results since motoring out of bankruptcy in July showed a $1.2 billion loss in the third quarter. Take away restructuring charges, and the losses come close to $700 million—still red ink, but way shy of the $4.2 billion lost in the same quarter a year ago. GM says it will make a $1 billion payment on a $6.7 billion federal loan in December and pay the Canadian government $200 million. Meanwhile, GM's former lending arm, GMAC Financial Services, dismissed CEO Alvaro de Molina and replaced him with a board member, former Citigroup (C) executive Michael Carpenter. GMAC, in which GM holds a stake capped at 10%, has twice been bailed out by the Treasury but so far has failed to repair its battered mortgage business.

—Edited by Harry Maurer & Cristina Linblad

A Trip's Green Offshoots

President Obama's visit to Beijing nurtured green tendrils twining between the two largest emitters of greenhouse gases. China's Suntech Power (STP), the world's top maker of conventional solar panels, unveiled plans on Nov. 16 to open a factory near Phoenix in 2010. Likewise, Shenyang-based A-Power Energy Generation Systems (APWR) said it will build a new turbine plant in the U.S. after it was chastised for aiming to use China-made windmills on a proposed Texas wind farm. Meanwhile, Peabody Energy (BTU), the No. 1 U.S. coal producer, said it will hook up with China's biggest utility, China Huaneng Group, to co-develop a power plant in Tianjin designed to capture and store CO₂ waste gas.

See "China Solar Panel Maker Sets First U.S. Plant"

—Edited by Harry Maurer & Cristina Linblad

The BusinessWeek/YouGov Optimism Meter: Sunnier Skies Ahead?

The Optimism Meter, a proprietary measure of sentiment and expectations, economic statistics, and market forecasts, clocked in at 46 on Nov. 17, up from 25 on Nov. 2. Developed to evaluate shifts in outlook among individuals, professional investors, and economists, the meter gauges optimism about jobs, the stock market, and growth. Stronger GDP and surging stocks have caused the mercury to rise.

* Calculated using consumer polling, economic forecasts, and financial markets data; 0=lowest and 100=highest

Data: YouGov, Bloomberg, BusinessWeek

—Edited by Harry Maurer & Cristina Linblad

A Boss for Lazard

Rocked by the unexpected death in October of legendary dealmaker Bruce Wasserstein, investment bank Lazard (LAZ) has chosen to go with a trusted if less celebrated insider. On Nov. 17 the board named Kenneth Jacobs, 51, as CEO. Jacobs, a 22-year veteran and currently head of North American operations, was selected over other internal candidates who had been viewed as more likely picks. Under his tenure, the North American unit has beefed up its presence in midsize deals and opened offices in Boston and Washington.

—Edited by Harry Maurer & Cristina Linblad

BW's New Editor

Josh Tyrangiel, a top editor at Time, will soon become the editor of a Bloomberg-owned BusinessWeek. The acquisition of the magazine by the financial data and news giant is expected to close on Dec. 1. Tyrangiel, 37, has been serving as deputy editor at Time and chief of its Web operations. Tyrangiel says his goal will be to create "an indispensable business weekly." Previously, he worked as a writer for Rolling Stone and Vibe and as a producer at MTV. He succeeds Stephen Adler, who's resigning when the deal closes.

—Edited by Harry Maurer & Cristina Linblad

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