The Truth About Cars?
At The Truth About Cars, Ken Elias posits that though Monday’s announcement of the GM bankruptcy was a bad day for the once dominant U.S. automaker, it was an even worse day for Toyota. His theory is that GM, bolstered with taxpayer dollars and free from creditors’ demands, will come roaring back with bold new products and lower fixed costs, more competitive than ever: Toyota | Read More »
Car Czar Rattner Owned $1 Million in Chrysler shares
It was revealed this week that Obama’s auto task force chief Steven Rattner owned up to $1 million in shares of Chrysler’s parent company, Cerberus, when he accepted a role in the administration which would oversee the carmaker’s bankruptcy. The head of the Obama administration’s auto task force, former financier Steven Rattner, was worth at least $188 million when he signed on at the Treasury | Read More »
Dealergate 6: The Clinton Factor
Since our last update of the blogger investigation into the Chrysler dealer closing fiasco now known as Dealergate, another significant benchmark has been met. All of the information from the .pdf list of Chrysler dealers remaining open has been put into spreadsheet format. With both lists now in this form, researchers are finally able to analyze the MOPAR dealer data and find significant patterns buried deep | Read More »
The real reason for the GM/Chrysler bailouts
Or, “How to Earn Better Than 100% On Your Money” I really have to hand it to Obama. I underestimated his shrewdness. Back when the bailout debate was going on, just about everybody who ever even heard of a balance sheet knew that GM and Chrysler were headed for the toilet. No amount of federal money was going to keep both firms out of Chapter | Read More »
Dealergate 5: Chrysler’s Dealer Council Speaks
Since our update yesterday, it has come to light that the dealerships that dodged (sorry, couldn’t resist) Chrysler’s silver bullet have circled their wagons minivans and are doing their fair share of PR work for the government-controlled reorganization of what was once the country’s third largest automaker.
Dealergate 4: What we have so far
Since we last checked in, here are the latest developments in the rope line of strange occurrences Doug Ross has dubbed Dealergate (Some bloggers prefer Mopargate, but many non-motorheads won’t get it. Dealergate it is). In another of the many pesky coincidences to be found in this story, car czar Steven Rattner, the real head of President Obama’s auto task force, is married to Maureen | Read More »
Dealergate: Does Obama have a dealer hit list?
Is the Obama administration punishing Chrysler dealers for their politics? A preliminary analysis by Doug Ross suggests that could be the case. There were too many things about the selection of dealerships to be closed that just didn’t add up. Some of the dealers chosen to be terminated were among the more successful outlets in the Chrysler dealership network, and many of them had been | Read More »
Of the Law and Star Trek
How can you possibly relate Star Trek to bankruptcy law? Okay, I’m the only person I know who wasn’t completely blown-away-thrilled by the new Star Trek movie. I actually enjoyed it as a pure Sci-Fi, but as a life-long Trekkie (or Trekker, if you must), some things bothered me. You see, Star Trek had forty-three years of building its canon. This was the set history | Read More »
Obama Dictates To Nationalized Car Manufacturing
With the United States Auto Industry in full retreat and two of the , “Big 3,” either in bankruptcy or nearing bankruptcy, Barack Obama announced huge new CAFE standards for Auto Emissions which will require that all US made vehicles meet fuel standards that would require each manufacturing company to have an average fleet fuel economy of 35.5 miles per gallon. This standard will also | Read More »
Dealerships are not the problem
The Washington Times: Dealers from across the country lobbied desperately on Capitol Hill on Wednesday on the eve of bankrupt Chrysler’s expected announcement that it will close 800 of its 3,200 dealerships. GM is expected to close 2,600, or 40 percent, of its 6,300 dealerships As part of their plans to get taxpayer-funded bailouts from the Obama Administration, GM and Chrysler both had to promise | Read More »
Obama Violates Seperation Of Powers
With the massive amount of activity that has taken place during the four months since Barack Obama took office in January, few questions have been asked concerning whether what is being done violates the Constitution. There have been a sprinkling of stories that bring up certain aspects of Constitutional violation and it has been brought up occasionally on talk shows, but a real discussion of | Read More »
The Gerrymandered Bankruptcy at Chrysler.
When the law doesn’t favor Obama, he acts like it doesn’t exist.
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More threats to Chrysler by White House surface.
Personally, I can’t wait to hear how anonymous revelations don’t matter when they’re not advantageous to Democrats not involving endangering American troops through the revelation of national security secrets not suitable for use in an election against a Republican …well, I’m sure the Online Left will find a suitably plausible-sounding rationalization, even if it’s only plausible to them; New Allegations Of White House Threats Over | Read More »
Why the Chrysler plan is probably illegal
Is the plan to reorganize Chrysler Corp. a true sale of its assets or a ‘sub rosa’ plan to recast the company? A bankruptcy judge is going to have to decide. Secured lenders are owed $6.9 billion. The Treasury’s term sheet, which is here http://www.ustreas.gov/press/releases/tg115.htm. , offers these lenders $2.25 billion in cash, proposing to sell all Chrysler’s assets to a new company. Treasury, the | Read More »
The Obama Thugocracy Has Arrived
Maybe it is the upbringing in Indonesia that taught Barack Obama the finer points of running a thugocracy. Or maybe it was from reading Saul Alinsky and growing up surrounded by communists, radicals, and domestic terrorists. First you hire a bunch of tax cheats, then you confiscate a pile of tax payer dollars to bailout your preferred billionaires and screw shareholders of companies, then begin | Read More »