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Tag Archives: GM

Is It Bad When Government / Business Bed Together?!?

Depends on if you want the government to know your whereabouts at all times:

Uh-oh: Government Motors wants to track you

Several years ago Glenn broke ties with GM as a sponsor, in large part because he was worried about their interactions with government. All that technology and access at the fingertips of the federal government just didn’t sit well with Glenn. At the time, they said they wouldn’t be doing any sort of tracking or anything like that. That was then, this is now. OnStar is now notifying its 6 million account holders that it will keep a complete account of the speed and location of OnStar-equipped vehicles even for drivers who discontinue the monthly service. Why? Glenn has more on radio today – check it out at GlennBeck.com.

How does the Preamble to the Constitution go?

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, track Americans everywhere they go, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

Yeah, that’s in there isn’t it!
 
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Posted by on September 22, 2011 in Constitution, White House

 

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GM, The Gift That Keeps On… …Taking

What do you think when you hear these words:

“Environmental Trust to Help Fund General Motors Cleanup in Missouri”

The 10/20/10 report from the AP in the Columbia Missourian caught my eye.  The reports starts w/ the statement that:

“Missouri is one of 14 states that will benefit from a new environmental trust to clean up dozens of former General Motors sites across the U.S.”

Benefit? Uh oh. Sounds good… …if you don’t know anything. However, like the commercial says, “But wait…”

“Vacant properties, facilities and offices left barren by GM’s bankruptcy will be razed or rehabilitated under the plan. The funds will come from more than $1 billion provided by the Treasury Department to wind down the “bad” assets of General Motors set aside in the bankruptcy.”

“The plan includes $431 million for states to clean up former GM properties and $262 million for administrative costs.”

Replace the words “Treasury Department” with “Middle Class Taxpayer” and you have the real story.

GM already took $50 Billion from the “Middle Class Taxpayer” that we will never get back.  GM may move $50 Billion from its accounts back to the government, but we “Middle Class Taxpayer” still pay the $50 Billion to GM when (if) we buy the cars… …or when the Government makes purchases from them.

Where did the money go?  Union pension funds?  Buying Congress?  Not the bondholders and secured debt-holders.  No.

Another Billion dollars that GM is taking from you and me instead of their profits, the bloated union pensions, or upper level (CEO) or general labor (union) salaries.  You and me.

$262 Million for administrative costs.  1/4+ of the cleanup money goes to bureaucrats.  And they wonder why the American electorate is outraged?!?!

GM, the gift that keeps on… …taking.

A title of “Taxpayers Again On The Hook To Pay for GM CEOs, GM Union Pensions and GM Crony Capitalism” would be more apropos.

But, we shouldn’t expect that from the AP.

 
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Posted by on October 22, 2010 in Free Market

 

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Yahoo Calls Obama A Liar

On Yahoo News, the latest AP puff piece for Obama decries the wonders of the auto bailout for Chrysler (who went bankrupt anyway) and GM (who went bankrupt anyway) as a testament to the successes of the current Administration.

“This industry is growing stronger,” Obama declared.  “You are proving the naysayers wrong.”

The AP wrote…

Following the government-led bankruptcies of GM and Chrysler, the companies have shown signs of improvement. Obama said that all three U.S. automakers are “operating at a profit, for the first time in six years.”

But the claim that all three Detroit automakers are making money isn’t quite true. GM and Ford are making money, but Chrysler has yet to post a net profit since leaving bankruptcy protection in June of last year.

WHAT!?!?

Wait while I get up off the floor.  Yahoo and AP are admitting that the Chosen One lied?!?!

The article goes on to tout new shifts and jobs at the auto plants and payback of the loans.  And, then the kicker…

However, the White House said that proclamation referred only to the $60 billion spent by the Obama administration, not the additional $25 billion funneled to the industry in 2008 under the Bush administration. The most recent government estimate found that taxpayers will lose $24.3 billion on the auto bailout.

Whoops. Another lie.  NOT getting paid back and losing $24 Billion on the deal.  Thanks for nothing.

Bottom line, the economy of the automobile was lost because of the spike in gas prices, union greed, and company mismanagement.  The economy of the automobile is recovering because of lower gas prices, union concessions, and changes in management.  There’s also that little thing where about 10 Million vehicles need to be replaced yearly and the normal number of cars sold in the U.S is around 16 Million.  The industry had to rebound… …when the demand recurred.

Regardless, thanks to Yahoo and AP for pointing out the lies of the Chosen One.  Some of his tarnish is really starting to show.

 
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Posted by on July 30, 2010 in Obama

 

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