Obama the job destroyer

    Today July 19,2010 the Office of the Special Inspector General for the Troubled Asset Relief Program (TARP) released the results of an audit report regarding the bailouts of General Motors and Chrysler Corporation using taxpayer funds and the Government’s decision to accelerate the forced closing of thousands of auto dealerships. The results of the audit regarding these dealership closings are summarized as follows: “Pursuant to | Read More »

    SIGTARP auto report out.

    The short version?  Having the government do your restructuring for you isn’t necessarily the brightest thing in the world.  Particularly when there’s a variety of conflicting objectives.  At least, if what you’re trying to do is actually create a better version of your company; if your goal is to use government fiat to streamline the operations of your newly government-owned automobile manufacturer it apparently works | Read More »

    SIGTARP auto report out.

    The short version?  Having the government do your restructuring for you isn’t necessarily the brightest thing in the world.  Particularly when there’s a variety of conflicting objectives.  At least, if what you’re trying to do is actually create a better version of your company; if your goal is to use government fiat to streamline the operations of your newly government-owned automobile manufacturer it apparently works | Read More »

    GM To Offer Sub-Prime Loans Again.

    What could go wrong ? GM looks to banks to finance subprimes. http://news.theage.com.au/breaking-news-business/gm-looks-to-banks-to-finance-subprimes-20100624-yzw7.html General Motors Co is looking to boost auto sales by lining up banks and other financial institutions to make loans and lease deals for buyers with poor credit. The talks lessen the likelihood of GM trying to buy the auto finance business from Ally Financial Inc, its main lender. They also make | Read More »

    It’s Too Good to Be True . . .

    . . . and most likely it is.  Government Motors has done something truly stupendous.  After paying back all of its loans to the federal government, it still was able to report a big first quarter profit.  After all the problems with debt and union liabilities and sales slumping, it is truly a miracle to see the amazing feat that is Government Motors.  See, socialism works.  | Read More »

    Paul Ryan on GM’s “so-called repayment”

    Via HotAir, Rep. Paul Ryan (R-WI) on “crony capitalism.” You may have read reports from the Obama Administration or seen ads on TV claiming that General Motors has fully paid back what it owes you the American taxpayer. These claims struck me as odd and misleading. The federal government still owns over 60% of this auto company. This so-called repayment is actually a transfer of | Read More »

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    The GM Success Story . . . a farce

    “Just this week we received some encouraging news.  Since General Motors emerged from bankruptcy, the auto industry has actually added 45,000 jobs – the strongest growth in a decade.” . . . “What’s more, GM announced that it paid back its loans to taxpayers with interest, fully five years ahead of schedule.”   President Obama’s Saturday weekly address April 24th, 2010 This truly a fantastic accomplishment.  So, | Read More »

    The Bromance Continues

    I do have to admit, reading David Brooks is a guilty pleasure.  His strange obsession with Obama is bordering on scary.  He is willing to apologize for any crazy scheme or action the man attempts.  Brooks will betray his belief system, the Constitution, his country, and his morals in order to defend the guy.  He will drag reality into a fun house of mirrors just | Read More »

    GM Recalls & Health Care

    So apparently GM is recalling 1.3 Million vehicles due to a problem with power steering.  When the vehicles decelerate to a certain speed, power steering stops working.  Given the difficulty to control a car without power steering, I would argue this is on par from a safety perspective with Toyota’s gas pedal/floor mat issue.  I can’t help but notice a stark difference between the Beltway | Read More »

    Government Motors to spy on you?

    Those wondering if its such a bad thing to have government, in this case the US, run a car company? Well not surprisingly, Autoblog reports that GM is signed up with the idea of having “black boxes” in all cars. “General Motors has now come out publicly in favor of the proposal. GM has been installing event data recorders in its cars since 1995 as | Read More »

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    The Obama Calculus: Celebrate Weakness, Disembowel Strength

    It’s really that simple after all, and it pervades every aspect of the Obama worldview. Just ask Toyota . I’m a big movie buff, and a huge Fight Club fan, and this whole Toyota flap brings Tyler Durden gurgling back up in my memory like so much boiling fat and lye. Right now, Toyota must be thinking “I am Jack’s cold sweat”, and Obama-“I am | Read More »

    The genius of the Chevy Volt – at $40k each

    This is just a quick entry, but it came to me as an epiphany. I was thinking, why on earth would anyone buy an underpowered, POS Malibu without an engine for $40k each?   Then I realized that “no one” was the answer, but the Volt was not made to be purchased – except by idiot tree-huggers.  The real reason it was made was to “buy” | Read More »

    Agricultural Tyranny – The Food Czar

    As the tentacles of the neoliberal agenda extend further into the most precious areas of our free society, small farms comprise part of the last remaining opposition to tyranny. If our country is to stay a free republic, we cannot place the right for families to grow food under the thumb of a government bureaucrat. Earlier this year, H.R. 875, The Food Safety Modernization Act, | Read More »

    GM TV Ad Malfunction. How appropriate.

    This morning I was watching This Week on ABC.  During one of the commercial breaks a new Chevrolet advertisement appeared. In the 60 second spot, the new Chevy CEO was walking and talking in glitzy Madison Avenue style in front of new or newly redesigned Chevy automobile products.  The music soundtrack was upbeat and positive.  I’m sure Mr. Chevy CEO was saying some really nice | Read More »

    Fatherly Wisdom

    I had a nice phone conversation with my father this evening.  He ran a GM dealership for just over twenty years, and he can remember a time when they moved 146 cars in one month…     The reason for the conversation though was to get some advice for a friend of mine.  My friend just took a teaching job, bought a new car and | Read More »