Posted on 03/29/2009 3:00:21 PM PDT by DrGop0821
Look, I've been against the auto industry bailout since the beginning.
These companies DO NOT deserve tax payer money. These bailouts are nothing but attempts at nationalization which ooze socialism.
Politicians have benefited from Unions for decades. Placating union bosses has been a windfall campaign finance tactic for a number of members of Capitol Hill. And that is the real motivation behind trying to "save" Detroit.
Indeed, the economy has seen better times but Honda, Nissan and Toyota are not panhandling on the steps of the Capitol. Somehow, they are managing to build, sell and profit from selling cars in America.
The biggest reason these automakers are in trouble is simple: It costs the Big 3 an average of $30/Labor Hour (or 60%) MORE to produce a car than competitors like Nissan, Honda and Toyota who build cars in United States plants as well. At 40 hours per week, the average UAW member makes over $150,000 annually in benefits and compensation. Does anyone else think that's a bit much to screw some tires on a car?
What about the so-called "job banks" where laid-off UAW members can collect 95% of their income by doing nothing more than watch TV and drink coffee. The Big 3 will not discuss the exact details of these job banks, citing they are not public information.
How many businesses in this country would succeed by paying 60% more than a competitor to produce a product? How many would succeed by paying people who don't produce a single asset?
Certainly, Rick Wagoner has not performed well as the head of GM, but what gives the President the right to ask a private company executive to step down?
If GM's board of directors made this decision, I would have no problem with it. The Obama Administration is yet again over-flexing its political muscle with respect to private industry.
If Congress and The White House want to put stipulations and regulations on companies receiving Federal aid, fine. But no where in the Constitution does it grant the Executive Branch this kind of control and coercion over private industry.
Tim Geithner unveiled a plan last week, designed to give Treasury Department the ability to take over financial institutions at the Secretary's choosing.
All of this continues the Obama Administration's war on Wall Street. It's a power grab to redistribute wealth, penalize the successful and establish a communistic "equality" among Americans.
Regulation = control and power.
Team "O" wants to destroy free market capitalism. There is ample proof of Obama's war on investors. Welcome to The United Socialist States of America (USSA).
POLITICO reports:
The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.
The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason.
On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler.
So you expected the marxist to lean on the unions?
Of course, it’s all the CEO’s fault, dontcha know.
Nothing.
Nothing, but We the People standing by and letting him usurp the Constitution.
No real difference between an auto industry bailout than a bank bailout.
Holy Crapola...The US Government TELLS a CEO of a US Company to quit...WT heck is going on here??
OBOZO needs to get some sort of slap down by SOMEBODY!
Once you receive Billions of Dollars from the Federal Government, the Federal Government becomes your boss.
Yes, welcome to Socialism and as I recall it was the last president who gave the first chunk of billions to GM.
Hate to say it, but the ex-head of GM appears to have as much engineering talent as the Obamaloon.
So, we can expect more Yugos from GM, just as we are getting Wiemar finance ideas from the clowns running finance.
Loon-O-Tics...not a person of accomplishment among them.
Hate to say it, but the ex-head of GM appears to have as much engineering talent as the Obamaloon.
So, we can expect more Yugos from GM, just as we are getting Wiemar finance ideas from the clowns running finance.
Loon-O-Tics...not a person of accomplishment among them.
Yes, he is doing the Hugo Chavez thing
Nothing.
However, GM, Chrysler and none of the other companies that took welfare money are "private" anymore.
I take it that araments minister Speer will consult with der Fuhrer in the selection of a suitable replacement.
im sorry there is HUGE difference where as the reason the car industry is in trouble is because of the UAW. But instead of asking the union to restructure contracts they ask the CEO to step down. I’ll tell you this is bone chilling to me. Everyone should be very scared over this.
Yes Obama is a Socialist.
But America’s big turn to Socialism started before Obama took office.
See: AIG Bailout, Bail Out of Banks and Wall Street, Bail out of the Big 3 (2008)
Answer to the headline from Obama “I WON.”. He feels he can do anything he wants. And quick, before someone finally leaks the BC out of Hawaii and it is known to the world he is Kenyan born. Then we’ll see some real chaos. This is nothing so far, bad as it is.
Oh Lord, see us through the next 4 years and keep our Republic intact. Amen.
I’m sure Maxine Waters will be able to turn GM around.
“At 40 hours per week, the average UAW member makes over $150,000 annually in benefits and compensation. Does anyone else think that’s a bit much to screw some tires on a car?”
Nope. Think again. $55K. The rest is the same as employment in the private and public sector: Company matching social security, healthcare benefits, pensions, holiday and vacation pay, some other benefits that they may or may take advantage of like prepaid legal fees and education stipends.
The UAW is wrong on many fronts, but it doesn’t help to exaggerate the problem.
Did GM sign the same contracts as the UAW?
If we give another red cent to any of the big 3, and a Republican votes for it, I'll never give a red cent to the GOP again.
I purchased my last American made car in 1992. I had it 23 months. It was the biggest piece of crap I'd ever owned. Since then, I moved to a particular German manufacturer, I'd never thought about my car ever again - exactly as it should be.
BTW, Zero is a Eurosocialist and this is done in Europe. The other part of the equation is this: You take the piper’s money and you dance to the piper’s tune.
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