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.
The fact that GM began advertising on Rush Limbaugh, Sean Hannity and Glenn Beck.
I know what's going on.
We in the USA are acting like the Jews in the days of Hitlers early reign...we are too friggin' comfortable to say (or do) anything to "rock the boat". After all, what can Zero do in 4 years....??
Yeah, SOMEBODY really ought to do something.....not me, of course, or you, but...somebody. Before this gets out of hand.
The big turn happened when he took office. Make no mistake.
Besides that....FANNIE AND FREDDIE under Bubba, forcing banks to make bad loans.....
The Golden Rule.
You provide the gold, you make the rules.
Except Obama is providing no “gold”. He is providing a temporary crutch that crumbles almost as fast as it is put to use.
GM is nothing more than a conduit for transferring Federal (and taxpayer) dollars to a small remnant of the vast army the UAW used to command. Better solution: bypass GM altogether, and just distribute the welfare directly to the UAW members.
Isn’t that where the now failing obama regime and Democrat Congress are going with this?
Look that canard “You provide the gold, you make the rules” is inapplicable. It’s OUR gold, not Obama’s. He’s a runaway agent, his actions are criminal.
While Toyota was designing the Prius, GM was designing the Pontiac Aztec.
While Honda was selling Civics, GM was selling the Malibu.
When gas was $4.00 a gallon, GM tried to sell you the Suburban and Toyota & Honda sold us fuel efficient cars.
The Union Thugs are not the ones who made the above poor decisions.
When someone bails you out you are basically at their mercy. If GM is going to take the money, instead of going the organized bankruptcy route, don’t be surprised at the stipulations placed on them.
Many banks, and states, have turned down stimulus money for this very reason.
I don’t like it either. But, it is what it is. GM has to suck it up and do what they’re told if they want the cash. It’s that simple. Sad but true.
If they had gone the bankruptcy route they could have dealt with the union and pension problems. Now they’re stuck with it.
Quote: “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.
“
Not picking on yu or anyone here, but please look at the big picture. If the empty one can do it to ONE he can do it to us all. There will be NO drawing of the line.
This is not socialism it is communisim.
The story is no different with the Assalt rifles; the moment he gets his hands on them, he wil soon have his cold sweaty hands on the rest.
It is time we the people clean house and a town. The White House and Washington.
These morons are supposed to serve us,not there ideals!!!!!!!
They are OWNED by the share holders, not Bambi
Amen. During the last auto bailout, Limbaugh and Hannity (I didn't listen to Beck) were absolutely cricket-chirping quiet on the bailout - no criticism at all.
Everyone has their price, and apparently GM found Limbaugh's and Hannity's. I haven't listened to either since. You can't be for just some Capitalism. You're either in it for all, or in it for none.
So you supported the Bush-Paulson Trillion Dollar Bailout of the banks, Wall Street and GM but not the Obama Bailouts?
I hate Socialism not matter what the party ID is of the person forcing it upon me.
GM got the money under Bush’s plan, and I doubt that possible nationalization was even a consideration. While I don’t think they should have gotten money at all, the understanding was different, and Bambi has simply gone ahead and taken advantage of the situation to do what he wants to do anyway, which is control all private industry in the US.
So, does he get to pick the replacement, too??
Look that canard “You provide the gold, you make the rules” is inapplicable. It’s OUR gold, not Obama’s. He’s a runaway agent, his actions are criminal.
Those who are under Zero’s spell have no clue that the ‘government’ HAS NO MONEY.
Obama’s “administration” should not be stepping into a company’s business like this.
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“What’s going on” is that we’re slowly becoming a banana republic. Make contingency plans to move to Australia.....
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