Posted on 07/21/2010 3:11:44 AM PDT by gusopol3
An audit by Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, found that President Obama's auto task force arbitrarily closed many profitable dealerships, destroying thousands of jobs "based on a theory and without sufficient consideration of the decision's broader economic impact." Barofsky observed that Chrysler and GM were subsequently forced to reinstate more than 700 of the approximately 3,000 disenfranchised dealers, "suggesting, at the very least, that the number and speed of the terminations was not necessarily critical to the manufacturers' viability."
One more thing: China has a virtual monopoly on neodymium, a rare earth metal required for critical components in vehicles like the hybrid-electric Prius
the infowarrior
This , like Obama’s lie about healthcare reform being a tax, was a weekend news dump which got no press coverage.
well, the car companies could not run themselves very well, either. It’s not a big fall from the last round of management to the current clown posse.
Calling Captain Obvious!!! By the way I own a 2000 Ford Focus. It has over 150,000 miles and out side of the 3,000 mile checkup is doing fine.
You’d think the bureaucrats would learn from the disastrous British Leyland experience that complete government ownership of auto companies isn’t such a great idea. Ford successfully avoided the need for government aid and they will by 2012 offer lots of hybrids and even start selling electric-only versions of their popular small models.
Detroit
Heck, given all the hep from DC over the years, the domestic auto industry couldn’t run itself.
First off, bureaucrats don't learn. Second, I bought a new Series III Land Rover in '72. As I was driving off the lot the dealer shouted "see you in about a week." When I asked him why he stated that the odometer cables were installed incorrectly and break in the first 50 or so miles. Sure enough.
“...a rare earth metal required for critical components in vehicles like the hybrid-electric Prius.”
Oh NO!
A Prius shortage!
Whatever will we do?
That sentiment aside, America is being foolish in it’s disdain for mining and maintaining access to key resources.
THIS would be a key way to help Afghanistan become self-sufficient. (develop their mining industry and create an immediate market.)
The kenyan usurper couldn't run a Hot Dog stand.
One tracer into those side fuel tanks and you’ve got a hot seat.
Washington beaureaucrats can’t run bar or a whore house — ie. — the Mustang Ranch.
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