Yesterdays quote from the Webbspun Ideas newsletter

The ability to concentrate and to use your time well is everything if you want to succeed in business--or almost anywhere else for that matter.
~Lee Iacocca

Bob Corker goes to the North American International Car Show

Paul Sancya/Associated Press
U.S. Sen. Bob Corker, R-Tenn., sits in the Cadillac Converj concept as GM Vice President of Global Design Ed Welburn looks on at the North American International Auto Show in Detroit on Tuesday. The Converj contains the same hybrid powertrain as the Chevrolet Volt.

U.S. Sen. Bob Corker said Tuesday he doesn't regret voting against a bailout for General Motors Corp. and Chrysler LLC last month because he and other Republicans had a plan to help the carmakers succeed.

Corker met with GM officials at the North American International Auto Show, where he looked at the models the automaker says are key to its future health now that the Treasury Department has allocated $13.4 billion in loans to keep the company alive.

The Tennessee Republican said he was "impressed" with the Chevrolet Volt electric car, which is due in showrooms next year.

"Being here makes me even more committed to working to make sure these companies change their capital structure to get these products to market," he said.

Corker said it's too early to tell whether the aid granted to GM, along with $4 billion to Chrysler, is enough to keep the companies from failing later.

Read the entire story HERE.

I love my car but I'm ready to start riding a horse instead

Chief executives from General Motors Corp, Ford Motor Co, and Chrysler LLC pleaded on Wednesday for $25 billion in federal assistance to help pay their suppliers, workers and other expenses at a time when car sales have plunged along with a souring economy.

But skeptical lawmakers blasted them for flying private jets to Washington and failing to make personal sacrifices in exchange for federal assistance.

"It's almost like seeing a guy show up at the soup kitchen in a high hat and tuxedo," said Rep. Gary Ackerman, a Democrat from New York.

"Couldn't you have downgraded to first class or something, or jet-pooled or something to get here?" Ackerman asked the executives at a hearing held by the U.S. House Financial Services Committee.

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Read the entire story in Trading Markets.