Dear Neil, I love your show Cavuto on Business. You are incisive, witty. Full of common sense and relaxed when you try to challenge your guests. You are inquisitive and to the point. I like the way you manage your interviews. You make your guests feel at ease with your charm.

I confess, however, I was deeply disappointed about your 4/30 show. You were talking about Chrysler’s vicissitudes and its sad demise and failure to produce the type of world-class products needed to survive.

Then, you started talking about Fiat. You showed a little 500. I drove exactly the same car in Rome to go to the university. The plate of the car was several decades old.

You started kidding about Fiat cars how small they are and were surprised how a company producing such cars could come to the rescue of an American icon. Why did I resent your you-must-be-kidding kind of smile?

Last December I drove a small Fiat from Rome to Genoa at 90+ mph. The car had superb stability, great road handling, low noise level, no vibrations, and six gears plus reverse. I could not fail to compare its performance to my Lexus SC 430.

Neil, we need to be more open minded if we want to beat the competition, if we want to survive in the global market. The attitude that everything foreign is ridiculed using old fashioned clichés is destroying this country.

The reason GM and Chrysler are going out of business is because they failed to keep up with modern manufacturing processes. Friends of mine visiting from Europe called our cars “sofas on wheels”.

You should have noted that a major industry has been wiped out. An industry using complex technologies, a complex supply chain, complex intellectual content, complex management issues. And we failed miserably.

Neil, do you recognize the magnitude of this event? Do you recognize what this event is saying about our industrial base and its implications on our position in the global economy?

To find out more about my in depth view of the markets and my strategy just visit our website https://www.peterdag.com/ where you can review The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific money management needs.

I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes.

George Dagnino, PhD
Editor, since 1977