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McCain's "loyal opposition" to Lord Obama is naught but "window dressing." |
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Posted on 03/30/2009 8:52:28 AM PDT by rabscuttle385
Arizona Sen. John McCain posted on Twitter today that "calling for GM CEO to resign is unprecedented window dressing."
"GM needs restructuring as part of pre-negotiated bankruptcy package," he added.
The 2008 Republican presidential nominee is referring to the Sunday resignation of General Motors CEO Rick Wagoner, who was forced out by the White House in an effort to give the embattled auto company a "clean slate."
(Excerpt) Read more at cbsnews.com ...
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McCain's "loyal opposition" to Lord Obama is naught but "window dressing." |
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McCain is correct occasionally...but, alas, he is still McCain.
Yo, as they say in Philly, STFU. And BTW, return any campaign funds you didn't spend, keep an eye on your wife, and to repeat myself, STFU.
"Obama is not even bothering to fire Chrysler CEO Robert Nardelli, who has been at the company since 2007. That could be a sign that no one at the White House thinks Chrysler will be around long enough for it to matter. General Motors CEO Rick Wagoner, by contrast, was asked to step down, and he will be replaced by the company’s president, Frederick Henderson. The administration official said Wagoner’s departure was orchestrated to give General Motors a “start with a clean sheet of paper.” But Chrysler’s not getting the same chance...causing massive pain in Detroit and the Rust Belt states where Obama succeeded in 2008 – hitting hard at those blue-collar families he struggled to win over in the first place."
"One other factor that likely weighed on the Chrysler decision – though no Administration officials said so explicitly – is that Chrysler is owned by the secretive private equity firm Cerberus Capital Management. That firm, which is headed by former Bush Administration Treasury Secretary John Snow, is presumably sitting on billions of dollars in cash, yet has declined in recent months to provide additional financing to its own portfolio company. That means either that Cerberus is much poorer than most investors assume, or that it has concluded on its own that Chrysler is a lost cause....“Chrysler has no cars that are recommended by Consumer Reports,” an official said.
If the big money guys in New York weren’t going to put money into Chrysler – when they own the company – it would be an enormously difficult political sale to convince the American taxpayers that Chrysler was a good investment
But firing the president will feed into the class envy that permeates our society, including right here on FR
The pathetic speech put out by the White House didn’t mention labor costs as a problem naturally.
Dr Seruzawa to McCain....STFU.
I'm sure that's the objective Obama had in mind when he "fired" Wagoner. If Obama had done nothing, it's likely that GM would be announcing bankruptcy tomorrow. Obama would have missed his chance at his class warfare swipe and an opportunity to waste billions more from the taxpayer coffers. It's all about payback to the unions...at our expense.
Apparently the senior senator from Arizonia sees nothing wrong with the White Housae running private business. What’s next? Will Michelle replace Martha Stewart and compete with the other big O?
Over the years, European automobile companies have also been nationalized, like Renault in France and Volkswagen in Germany, allowing them to compete, for decades, with the private sector and giving their workers a share in the management, as is still the case in many of Germany's industries. Chris Matthews discussed the possibility of nationalizing the Big Three auto firms. When questioned about this, GM's president and chief operating officer Frederick Henderson gave a one-sentence lie," writes The Nation, "saying he was familiar with the European experiments and that they had failed. The European auto companies were so successful that conservatives argued they should be privatized, which put them at greater risk competing against the cheaper car makers of Eastern Europe and Asia.
An auto maker in Slovakia, for example, makes a quarter as much as his French or German counterpart, which has caused an increasing movement of jobs to the countries paying lower wages. Were these companies and others still publicly owned, they could choose lower profits over sending their work overseas. France recently imposed large fines on profitable private firms that chose to close their factories in France to increase their profits even more. Most of the French agree that keeping jobs and decent wages going is a basic responsibility of industry, private or public. With the growing protectionist sentiment in the United States, such an approach might prove very popular. Obama has talked about renegotiating NAFTA, but these constraints on the private sector might also be considered.
Window dressing like your run for President juan!
LLS
McCain is almost acting like he’s running for 2012
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