CNBC's Jim Cramer Takes On Bob Nardelli With A Home Depot T-Shirt [Carpocalypse Now]

We love CNBC's Jim Cramer for taking on Cerberus yesterday, calling the private equity firm "the absolute worst" for buying up Chrysler. The best part? This t-shirt of Bob "The Builder" Nardelli. Epic. [via CNBC]

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Honda Posts First Half-Year Operating Loss In 11 Years [Industry News]

If anyone needed proof the Carpocalypse is affecting all the automakers, Honda, the mighty stalwart of profitability, has announced a half-year operating loss of $1.4 billion. It's their first in 11 years.

That half year loss is made up for by a first half year profitability of $2.0 billion dollars, but if there's a stronger sign the market has fallen apart we've yet to see it. Honda CEO Takeo Fukui said "We see no sign of a recovery." Don't know about you folks but when Honda loses money and says things may not recover, we kinda take that as a bad sign.

We expect Senators Bob Corker and Richard Shelby to berate Honda for being a failure of a company, incapable of building innovative products that Americans want to buy and lagging behind their foreign competitors. Obviously they're not worthy of anyone's sympathy. [Forbes]

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Is Lee Iacocca Lobbying For The Position Of "Car Czar?" [Carpocalypse Now]

Former Chrysler CEO and Ford President Lee Iacocca issued the following statement today, perhaps deciding he was able to find a better "Car Czar" than Kenneth Feinberg and it's himself. Whatever may have given him the idea?

Statement by Lee Iacocca, Former Chairman and CEO of Chrysler and Former President of Ford Motor Company, on Auto Industry Loans

LOS ANGELES, Dec. 9 /PRNewswire/ —

The following statement is from Lee Iacocca, Former Chairman and CEO of Chrysler and Former President of Ford Motor Company:

"Running a multi-billion-dollar automobile company with thousands of employees, retirees, suppliers, dealers and communities counting on you is not for the weak of heart or for the timid or the untried. Especially the untried.

"Having been there, I do not agree with the sentiment now coming out of Congress that the management should be changed as a condition of granting loans to the Detroit automakers. You don't change coaches in the middle of a game, especially when things are so volatile. The industry has been brutalized by a totally unpredictable series of events over which it had little control and that is beating it unmercifully into the ground.

"The companies may not be perfect but the guys who are running them now are the only ones with the experience and the in-depth knowledge and understanding of how the car business really works. They're by far the best shot we have for success. I say give them their marching orders and then let them march. They're the right people to get the job done."

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Barney Frank Does Not Want To Drive Your Chick Magnet [Carpocalypse Now]

Representative Shelley Moore Capito, R-West Virginia, lacking any desire to make a contribution to the not-so-Big Three hearings, decided to inject some levity into the proceedings by naming all of the vehicles her family's owned including a Chrysler station wagon named "Chick Magnet" but then quickly apologized. Why?

The committee's Chairman, Barney Frank, the first openly gay member of Congress, not surprisingly suggested he'd rather have nothing to do with such a vehicle. We imagine "Leroy," "Big Blue," or "Bear" would be more his speed.

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