I found this on Drudge this morning… It’s worth reading: It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people. True, the situation has been well […]
GM
Not Just No, But Hell No: GM, Chrysler Seek $21.6 Billion in Aid
General Motors and Chrysler have submitted their recovery plans submitted to the U.S. Treasury and are asking for another $21.6 billion in government aid. Not just no, but hell no… No amount of government aid is going to bring them back to profitability so long as the government forces them to build car consumers don’t […]
GM: Billions More In Bailouts or Bankruptcy
Today’s Wall Street Journal has a front page story about GM’s restructuring plans… The article is worth reading unfortunately, the on-line version is subscriber content so if you’re not a Journal online subscriber you’ll have to register to read it. Here’s the free excerpt: General Motors Corp., nearing a federally imposed deadline to present a […]
WSJ: Let Detroit Build Profitable Cars
I’m doing a little catching up this weekend and trying to read all the two dozen or so articles I bookmarked over the past couple of weeks. One of the items I bookmarked was Holman W. Jenkins Jr. December 31st Op Ed piece in the Wall Street Journal “Let Detroit Build Profitable Cars” In the […]
Son of a Bailout – Bush Gives Auto Makers $17.4 Billion
President Bush this morning morning announced a $17.4 billion bailout plan for auto makers. Under the terms of the plan GM and Chrysler would receive $13.4 billion in loans in December and January, with another $4 billion likely available in February. The deal is contingent on the companies’ showing that they’re financially viable by March […]
Treasury Throws Auto Industry a Life Line???
Damn! What is it with the Bush administration? Senate Republicans rightly stopped the auto industry bail last night and today the Bush Administration decides to use TARP funds to throw a life line to GM and Chrysler. From FoxBusiness: Despite the abrupt death last night of bailout legislation in Congress, it seems the Big Three […]
Mitch McConnell: No
Senate Minority Leader Mitch McConnell has broken with the White House and come out against the auto industry bailout in a Senate floor speech: “These are turbulent times for the U.S. economy. Over the past several months, Americans have seen giant companies fail, significant job losses, and, after unprecedented problems in the credit markets, the […]
Will The Auto Industry Bailout Work?
I’ve been so focused on finishing up the projects I’m working before the holidays I’ve only been half attention to the news recently. I completely missed Holman W. Jenkins Jr. latest Wall Street Journal column: The Bailout That Won’t Would you buy a car from Congress? By Holman W. Jenkins Jr., Wall Street Journal, December […]
The $25 Billion Question
Holman W. Jenkins Jr. has an excellent Op Ed piece in today’s Wall Street Journal. Mr. Jenkins ask the one question that no one Congress dares ask… Why is it Ford and GM can build viable auto businesses all over the world but not in North America? A Car Wreck Made in Washington Can Democrats […]
Mitt Romney: Let Detroit Go Bankrupt
Former Massachusetts Governor Mitt Romney has a must read Op Ed on troubles facing Chrysler, Ford and GM in today’s New York Times. Let Detroit Go Bankrupt By Mitt Romney, New York Times Op-Ed, Wednesday, November 18, 2008 Boston IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, […]
CNSNews.com: Union Workers at Big Three Automakers Average $73 an Hour
The headline may be a little misleading but the article is worth reading: Union Workers at Big Three Automakers Average $73 an Hour By Pete Winn, Senior Writer/Editor, CNSNews.com, Tuesday, November 18, 2008 Economists in Michigan, the long-time home of the auto industry, say they don’t support the proposed multi-billion dollar bailout of Big Three […]
Wall Street Journal: Why Bankruptcy Is the Best Option for GM
Today’s Wall Street Journal has a must read Op Ed column by Michael Levine. Levine examines the problems faced by GM and explains why seeking chapter 11 bankruptcy protection may GM’s best chance for survival. Why Bankruptcy Is the Best Option for GM Chapter 11 would better preserve the valuable parts of the company than […]