Comments on: Aid For Carmakers Stalls; Now What?
Detroit Told To Create Roadmap For Modernizing Industry In Return For Bailout Consideration
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- So now the Dow has dropped below 8000. Yes, I know that a good deal of the blame here goes to the credit crisis brought about by the sub prime mortgage mess. (Blame the Democrats for this one, by the way), but what role does the election of Obama play here? None, you think? Well try to think a little more.
In about eight weeks we''re going to coronate a new president that is clearly not in love with capitalism. Barack Obama wrote of his flirtations with Marxism during his college years. He gravitated to Marxist professors and hung around student gatherings where Marxist literature was sold. His campaign rhetoric parroted may Marxist maxims.
Now you may not like this .. and I''ll probably get some of those silly "Obama''''s been elected, get over it" emails. How many of you remember any pro-capitalism statements from Obama during the campaign? Did you hear him praise the role of business and entrepreneurs in the American economy? If he said it, I sure didn''''t hear it.
So give me just one good reason why a capitalist - an investor, a business owner, or an entrepreneur - should feel positive about the upcoming Obama presidency? This is going to be a presidency for people who love and worship government. If we could sell stock in the federal government I''m sure the analysts would be giving it a strong buy recommendation right now. - Reply to this comment
- Goldman Sachs, A.I.G and Citigroup who''''s failure could bring out their 52 trillion dollars in Credit Default Swaps''''s (not to mention other derivative instruments) that should have been illegal in the first place.
Posted by steamed2 at 11:46 AM : Nov 21, 2008
Read the news more closely. These "bailouts" include provisions that give the federal government a "stake in the ownership" of these businesses.
When the government has "ownership" of a business, THAT''S NATIONALIZATION.
Our government is now trying to nationalize the auto makers in their continued campaign to "rescue" the economy.
Bailout - rescue - liberation. What''s the diff?
Next year, Pelosi will be talking about "liberating" failing businesses by placing them under government control and ownership. Will THAT be clear enough to call it "nationalizing???" - Reply to this comment
- What nationalization? Paulson has already given away 350 billion to his ''partners-in-crime'' with absolutely NO strings attached. He doesn''t want to give any of ''his'' limited money to sub-prime loans OR the Big 3 because he needs it to prevent the collapse of specific companies like his own Goldman Sachs, A.I.G and Citigroup who''s failure could bring out their 52 trillion dollars in Credit Default Swaps''s (not to mention other derivative instruments) that should have been illegal in the first place. He''s says he''s changed his mind where to put the money. Really? Is Congress galactically stupid? (Oh, yeah, I guess we already know the answer.) For some interesting info, check out http://www.peak.org/~LW584
- Reply to this comment
- Don''''t expect me to use THE EXACT SAME WORDING you would have used. I think my meaning was clear - especially when you can TRANSLATE FOR ME into "easeupese."
Posted by txgrouch2007 at 11:14 AM : Nov 21, 2008
"easeupese"=ENGLISH
"grouchese"=Broken rants - Reply to this comment
- "Watching Enron go down" and watching the Enron execs who inflated earnings go down are 2 different things.
Posted by easeup at 11:12 AM : Nov 21, 2008
How many times a day does someone tell you to get over yourself? Maybe you should listen.
Don''t expect me to use THE EXACT SAME WORDING you would have used. I think my meaning was clear - especially when you can TRANSLATE FOR ME into "easeupese." - Reply to this comment
- You mean, like I did?
It was fun watching the crooks get nailed. THAT''''S what was fun.
Or, are you DEFENDING the Enron execs?
Posted by txgrouch2007 at 11:07 AM : Nov 21, 2008
"Watching Enron go down" and watching the Enron execs who inflated earnings go down are 2 different things.
I have a friend who was a Director at their Columbus office & he lost over $500,000. Not a lot of fun. - Reply to this comment
- Give me the big 3 and I will tell you how to save them.
1) Fire the exec''s first thing and hire new blood not from the same old tired blood of current exec''s maybe even international.
2) Work with the union the same as Xerox did and show them the financial statements.
3) Retool the process give the unions 6 months.
4) Any lower level manager that attempts to act as old big 3 fire them on the spot.
5) If the union works with us then we give them an agreement that will provide jobs along with contracts signed for delivery.
6) Also no golden payouts for anyone and a cap on exec''s wages.
This is to start.
7) Also design qualty cars that compete with Honda, and Toyota and Nissian. No exception.
8) Implement the goal to acheive sigma six within 2 years. That is for quality control and means 99.9 of the cars are without defect coming off the line.
There would be other things that are needed but this is the start. - Reply to this comment
- Yeah that was real fun watching all of those people losing their 401k''''s.
Posted by easeup at 10:47 AM : Nov 21, 2008
You mean, like I did?
It was fun watching the crooks get nailed. THAT''S what was fun.
Or, are you DEFENDING the Enron execs? - Reply to this comment
- No Bailout. For theUAW are the car makers. The UAW wants an Auto bailout so they can save the jibs of the no good work force. If the UAW new how to work the Automakers would not need help.
- Reply to this comment
- That''''s what made it so fun to watch Enron go down.
Posted by txgrouch2007 at 10:41 AM : Nov 21, 2008
Yeah that was real fun watching all of those people losing their 401k''s.
I''m guessing you wear a name tag where you work. - Reply to this comment
- You don''''t have the right to know how your money is being given away.
Posted by avoice at 10:19 AM : Nov 21, 2008
We DO know. Paulson has diverted the money to invest it in the stock market. It was in the news, in one of those items that disappeared before the evening, so nobody saw it except news junkies like me who check the news almost every hour.
NONE of the bailout money will go to purchasing subprime loans, as we had been told. It will go to nationalizing companies, and the government will become partial owners of busineses that THEY REGULATE.
OK, now you know where the money is going. HOW DO YOU FEEL ABOU THAT, now that you know? - Reply to this comment
- Why do people get so hung-up on this?
Posted by easeup at 10:14 AM : Nov 21, 2008
Because it''s SO REVEALING about the way they think.
Anybody who has had a full time job for more than 10 years knows how management thinks. And they know what REALLY goes on.
That''s what made it so fun to watch Enron go down. All those faces testifying - yah, those are the faces that used to sit across the desk from us and smirk at us while they ***ed us over. Those faces weren''t smirking anymore.
Now here comes the NEXT batch of faces - demanding corporate jet transportation to beg for our money...
Faces, faces, faces say so much... - Reply to this comment
- Isn''''t it ironic that the Fed wants to make the Big 3 accoutable, but yet the banks that are being bailed out don''''t have to report where their money is going?
Posted by cricketbeers at 10:07 AM : Nov 21, 2008
Follow the money trail from the big banks and it goes to the wealthiest families in the world, the Hunts'' Morgans Rockefellers ect - Reply to this comment
- NO BAIL OUT! Let the CEO''''s be paid reasonable salairies and cut out the enormous bonuses and perks. The Big 3 have bilked the American consumer enough. I do not want my tax dollars going to them. I have 2 car notes (PT Cruiser purchased new and Pontiac VIBE purchased used) to pay!
It is sickening to read about the money going to the top execs. Let them scale down in their salaries. The top dogs of the 3 probably rake in a billion dollars each year with pay, perks and private jets.....wives included. Get real, people
Posted by momofdaisy at 10:05 AM : Nov 21, 2008
The salaries of the CEO''s is irrelevant. A drop in the ocean in terms of the value of these companies. Why do people get so hung-up on this? - Reply to this comment
- Until we can see a plan where the auto industry is held accountable, we cannot show them the money," said House Speaker Nancy Pelosi, D-Calif------
Isn''t it ironic that the Fed wants to make the Big 3 accoutable, but yet the banks that are being bailed out don''t have to report where their money is going? - Reply to this comment
- they want to use part of the bailout money they are requesting to build plants in other countries like Brazil and russia. Why should the American taxpayers give one dime to anything that is going to benifit foreigners? It is becoming more and more clear there are limited resources, we need to make sure we keep everything here. Let people in other countries worry about themselves, we need to start looking out for #1
- Reply to this comment
- NO BAIL OUT! Let the CEO''s be paid reasonable salairies and cut out the enormous bonuses and perks. The Big 3 have bilked the American consumer enough. I do not want my tax dollars going to them. I have 2 car notes (PT Cruiser purchased new and Pontiac VIBE purchased used) to pay!
It is sickening to read about the money going to the top execs. Let them scale down in their salaries. The top dogs of the 3 probably rake in a billion dollars each year with pay, perks and private jets.....wives included. Get real, people - Reply to this comment
- What we really need is to open up the U.S. car market to new car companies so that competition and innovation can surpass the Detroit dinosaurs. It is extremely difficult new for car companies to get a foot hold and survive because pressure from the big 3 has brought very restrictive standards that only large companies can follow efficiently (such as airbag mandates).
Instead of giving $25B to the big 3, who will only squander it on their known failed business strategies, we should give smaller amounts to new start-ups that could use a boost. For example, Tesla Motors and the makers of the Apterra could greatly reduce the street price of their remarkable cars if they had $500M each to tool up new facilities. Forget goals of 36mpg, you''d be seeing cars that get the equivalent of well over 150mpg.
We''re Americans and we CAN make giant leaps forward! It''s time! - Reply to this comment
- Republicans are evil.
Posted by nowaymcgoo at 08:52 AM : Nov 21, 2008
Whatever Reagan did, Clinton had EIGHT YEARS to fix it. Instead, he spent eight years cheerleading for NAFTA and Most Favored Nation status for China.
Judge not, lest ye be judged. - Reply to this comment
- Isn''''t it just lick the scumbags who fly their fancy jets, mumbling "let them eat cake" to once again bilk the taxpayers for 25B just before bailing out to the Chinese and taking our money as perks.
Posted by geneonlbk at 09:59 AM : Nov 21, 2008
Sounds like GLOBALIZATION to me. - Reply to this comment
