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POPS Ford Beats Government Motors AP story: "Ford Reports Surprise $1 Billion Profit. Automaker now expects to be solidly profitable in 2011." But then you get halfway down the story: "But Ford still faces obstacles in its turnaround. Last week workers overwhelmingly rejected an agreement with the United Auto Workers that would have brought Ford's labor costs in line with rivals General Motors and Chrysler. Workers objected to clauses limiting their right to strike and freezing entry-level wages and felt the company was healthy enough and didn't need further concessions." So this headline, "Ford Reports Surprise $1 Billion Profit" needs to be rewritten: "Ford Surprises by Having a Profit. Angry unions vow to redouble efforts to sink the automaker."
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POPS Is Barack Obama Anti-American?
And with other dreams (for example, the Second Amendment) he’s doing a fancy dance by which he tries to hide his authoritarian impulses. But it doesn’t matter. This post isn’t about what Obama will actually do. It’s about what he wants to do, what his desires are vis a vis the American people " and it’s very clear that his desire is antithetical to the American essence. He wants to limit or destroy individual liberties. Politically, too, Obama’s impulses are all antithetical to liberty. Again, some examples: He has turned against the only democratic nation in the Middle East (that would be Israel), in favor of the bloodied tyrannical theocracies on her borders. By reversing his pledge to keep a missile defense system in place in Poland and the Czech Republic, he has favored Iran’s Muslim tyranny Figuratively and literally, he bows to dictators (Saudis, Venezuelans, Russians, Iranians, Cubans). In Honduras, he sided with the delusional Zelaya against the . . .
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POPS Pay Czar Targets Salary Cuts Mr. Feinberg is expected to issue by mid-October his determination on compensation packages for 175 of the most-highly compensated executives and employees at the seven firms he oversees. The move will further reshape pay at those firms and could complicate efforts by some of those seven companies to attract top executives and employees. The issue could be particularly acute for Bank of America, which is searching for a successor to Kenneth Lewis, who announced plans to resign as chief executive of the company last week. A Bank of America spokesman said the bank declined to comment on compensation issues regarding the chief executive. "We have been in close communication with Feinberg and our compensation going forward is very much in line with his guidance," the spokesman said. Pay Czar to Cut Staff's Cash Salaries Video WSJ video (1:47) http://online.wsj.com/article/SB125478783753066235.html#articleTabs%3Dvideo
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POPSUS 'Unlikely' to Recoup Auto Outlay, Panel Finds What a hoot! As if we did not know. Billions of dollars gone down the drain. Why would not letting the the markets do their thing have been a better option? Is the answer that *more* people would have been out of work? It really appears that all that money did nothing.
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POPSJust say No to Government Motors and Obamacars
History tells us that ventures between government and private enterprise are highly unlikely to succeed. Rolls Royce and British Leyland Motor Corporation were nationalized by the British government. Neither intervention succeeded in making either company profitable. The DNA of America is coded with private enterprise and individual risk-taking and reward. The idea of the government owning businesses of any sort is not merely bad economics, it is terrible government. Any American who values their traditions of free enterprise and political freedom will urge the federal government to disinvest itself from these companies immediately. The federal government can quickly put its controlling stake in the companies on the market and do so at whatever price makes the market. There are plenty of great cars out there. You don't have to buy one that costs not just your cash, but also your commitment to free enterprise and all the benefits that flow from it.
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POPSObama’s Well Organized Community Is Falling Apart "Who spends an obscene $1 Billion dollars to win a lousy $400,000 per year job, and why? The people behind Obama expect a return on their investment. And they are NOT the kind of folks you want to disappoint… These folks make Capone look like a choir boy. Before the ink was dry on Obama’s fake Certification of Live Birth (not to be confused with an actual birth certificate), Obamanation was off to confiscate control of banking, insurance, energy and auto manufacturing. Before they knew what was happening, the American people woke up the proud new owner of Government Motors and $13 Trillion in debt. But it wasn’t until Obamanation tried to confiscate control of 1/7th of the US economy by nationalizing the private American health care industry that the people took to the streets in protest." Full article at source
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POPSAuto Czar Quits Post Six Months Into the Job Mr. Rattner, a former investment banker and His Former Firm Are Involved in a Long-Running Investigation by the New York Attorney General's Office. It seems to me that this would have immediately disqualified him from being appointed to this post to begin with.
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POPSObama Comes To Michigan, Tea Party Breaks Out! Michigan has been hit particularly hard not only by the recession (we were already in one for the last 6 1/2 years), but by the bankruptcy of GM and Chrysler (didn't they get bailed out specifically to avoid bankruptcy? Couldn't they just have done that last fall without government intervention?). Funny thing is, most stimulus $$$ aren't slated to be spent until 2010 - an election year. In any case, the freep could have written a far more meaningful editorial slamming Granholm for the unfriendly business environment she has created in this state, and calling on her to lower taxes to spur more business investment. As for Obama's promise for creating jobs, here's how that has been going so far: January US jobs lost: 598,000 jobs February US jobs lost: 706,000 jobs March US jobs lost: 742,000 jobs April US jobs lost: 545,000 jobs May US jobs lost: 345,000 jobs June US jobs lost: 467,000 jobs Total US jobs lost under Obama: 3,403,000 jobs
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POPSDoes Bailout Come with a Company Car? As a major shareholder in the newly formed Government Motors I demand to know when I can pick up my company car. Could someone tell me which of the dealerships still in business are taking requests for company cars? Now that I am the majority stock holder in the company I would like to have as one of my perks a nice new company car and not one of them HYBRIDS either. I want one of those big old gas guzzlers that the President drives. If Ms Pelosi can fly around in a company jet, and the President can drive around in his fleet of SUV's then AS A MAJOR SHAREHOLDER IN GOVERNMENT motors SO CAN I. Please make delivery of my new company car to the address you have on file in my Share HOLDERS portfolio. THANK YOU.
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POPSGM exits bankruptcy As the article says, they exited bankruptcy quickly. At what price? I won't buy a GM car. Glad for the GM workers, but sad for the American capitalist society.
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POPSI'm Not Buying GM or Chrysler Should be interesting to see these two companies flounder to their evenutal government-run destruction. Of course it would be nice if they weren't burning up my money to do it. But The Messiah has stolen.
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POPSChinese Premier Wen Jiabao Is Worried About US Debt? As North Korea shakes the nuclear sabre, Iran threatens Israel's existence and the modern world cowers before medieval Islamists, what leverage do we have to gain China's cooperation? None, of course. Instead, China has all the leverage to make us bend to their will. What other choice do we have but to obey our new master? Thousands of years ago, a wise man wrote that "the borrower is the slave of the lender." Anyone who has racked up debts understands this concept all too well. When your money belongs to someone else, they get to tell you what to do. When Treasury Secretary/Tax Cheat Tim Geithner reassured a Chinese audience that their "investments" in America were safe, they laughed in his face. Before long, our new master will notice the whip he's been handed and the laughter will stop. The world is about to get a lot more dangerous.
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