$13.4 billion to Automakers

December 23, 2008 Leave a comment

Before I start, here is the excerpt that really got me going…

“The government will put other conditions on the loans, Bush said Friday, including making pay competitive with foreign automakers with large U.S. operations such as Toyota and Honda. Employees of foreign automakers generally make less than those in U.S.-owned plants.

The plan also puts limits on executive compensation and perks such as corporate jets, requires the automakers to adhere to fuel efficiency and emission standards and open books to government scrutiny.”

via Feds to lend $13.4 billion to automakers – CNN.com.

 

So let me get this straight… they are going to lower wages, put limits on executives, require them to adhere to our country’s laws (what?) and open their books?

Lets start with the first doozy. Apparently, now that they are getting all this money, the UAW (which, by the way, forced them into this situation by not re-negotiating their clients contracts) will be willing to lower their clients contracts. Now, read my last sentence over again. The same people who refused to even negotiate are now going to negotiate and agree to a deal in which their clients (union members) will have their pay and benefits slashed? 

If that’s not funny enough, they are going for the populous touch with the limit on executive perks. First off, this probably isn’t even legal. A company or entity (in this case the government) can NOT put that kind of prerequisite for a loan. Even if they can, which I doubt, are we really supposed to believe that executives will now start staying at the Holiday Inn? AIG has been lambasted repeatedly for their executive spending and yet THE CONTINUE TO DO IT! It’s like they don’t care. Good luck with this one. 

Now the last part of that statement: “require them to adhere to fuel efficiency and emission standards and open books to government scrutiny.” Does this imply that they were planning on NOT adhering to our standards, which are actually laws passed by Congress? So we are loaning money to company’s who were planning on breaking our federal laws? A convict walks into a courtroom. The convict tells the judge, “Judge, I will not steal anymore if you let me out of jail. I promise.” The judge says, “Convict, not only will I let you out of jail, but I will also give you $13 billion so that you will no longer have to steal.” Does this sound like that? I think it does. It’s so ludicrous that you might be laughing, but it’s not a laughing matter. The fact that the convict promises to not steal is ridiculous. You are an American, and as such you have to abide by the laws! RIDICULOUS!

Oh, and don’t forget, they are going to open the books to government scrutiny? Hopefully this government scrutiny is better than the scrutiny the SEC uses… or perhaps better than the scrutiny for the $350 billion that no one can seem to trace. 

Again the bush administration goes against the will of the people and congress to wage another crusade in a last ditch effort to wipe his dirty slate clean… only problem is his legacy is tarnished beyond doubt…

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Categories: Bailout, Links, Politics Tags: , ,

Whered the bailout money go?

December 23, 2008 Leave a comment

This story comes from the Sun-Sentinel here in South Florida. Apparently its quite easy to lose $350 billion dollars. 

Whered the bailout money go? $350 billion later, banks wont say how theyre spending it — South Florida Sun-Sentinel.com.

Categories: Bailout, Links Tags: , ,

ESPN Page 2 – Gregg Easterbrook

December 17, 2008 Leave a comment

So I like reading this piece written by Gregg Easterbrook every week or so on ESPN.com. Now, ESPN.com isn’t exactly the “hot spot” for insights into American political happenings, but Easterbrook always touches a nerve with his article. This week he delved into AIG, the Senate and UAW. 

Here is the link to his column this week: Gregg Easterbrook

It is astounding to me that Congress consistently makes a mockery of the American people. Even worse is that most people never even find ouut what is going on. Hell, I didn’t know this was going on until I read his article! “$14 billion for cars and autoworkers making an actual product, no no no… we definitely need to investigate this further before we make a decision” – 

“$700 billion dollars for  cash flow because your P/E Ratio has declined on a bearish market due to a market correction? Well, don’t let me get in your way…” Easterbrook makes a great point on this and one that we shouldn’t simply laugh at (although it is tempting until you remember thats $700 billion that could have been spent on universal healthcare, improvements in education, or even more rebate checks for all of us). Now, the UAW definitely needs to take a lot of the responsibility for their misguided attemtps to point a finger at the Big Three. How could THEY not recognize that THEY HAD TO negotiate? Sure their workers got shafted years ago with horrible working conditions and poor pay, but c’mon, they make $50 bucks an hour (on average) now. Give it up… do you want a job that pays slightly less (maybe 35-40 an hour) or a government check for less than a year that probably won’t even come out to 20 bucks an hour? RIDICULOUS…

Lastly, this last excerpt from Easterbrook really gets me going: 

“Meanwhile, Congress is shocked to learn that the executive pay limits in the Wall Street and banking-industry bailout package are toothless. Who’s to blame? Congress. It was the members of Congress who voted for a bailout package whose executive pay “limits” were unenforceable, plainly intended solely as a PR exercise. Yet Congress did nothing. Now it turns out AIG is paying top executives up to $4 million each in taxpayer money as “retention bonuses,” justified on the transparently fake claim that otherwise they will jump to other lucrative offers… But what is Congress doing? Nothing!”

Ay caramba… Stupid is as stupid does… there’s a lot of stupid going on in our government.

UAW? You got it all wrong, its GW.

UAW? You got it all wrong, it's GW.

“The Root of All Evil” Debate « Unreasonable Faith

December 16, 2008 Leave a comment

Check out Richard Dawkins explain his argument during the taping of The Root of All Evil on CNBC…

docid=5719891339958467942&hl=pt-BR]

 



Categories: Links Tags: ,

Weekend Report

December 15, 2008 Leave a comment
That was close, eh Mr. President?

That was close, eh Mr. President?

Well it seems like at least one Iraqi is not happy with the way things have gone over the last 7+ years. Not to re-tell the story but it just seems amusing to me that the President of the United States would have not one, but two shoes thrown at him during a news conference. I can imagine this occuring at some point or another during our country’s early years (although I’m not sure if shoes would have been thrown) since the Presidency really didn’t carry the kind of pedigree it does today, but to happen in 2008? Jeez. I guess it kind of just drives home a point. Sadly, I’m just not sure Mr. President got the point… (did he ever?)

But before I move on from this one, I have one more question. Where was the secret service? Seriously, what if those were knifes, grenades or cats with long nails? Hope the SS (whoops, not sure the secret service would want folks calling them that…) does a better job with Obama.  http://www.youtube.com/watch?v=zSHNRNi91wQ

On another note, I finally finished my holiday shopping! More importantly, I finished my holiday shopping without going over budget! SWEEET!

 

Profound insights into arguments otherwise unstated in our everyday lives...

Profound insights into arguments otherwise unstated in our everyday lives...

 

 

One of these posts I will delve into the book I have been reading for what seems like eternity (busy work schedule + girlfriend + holiday shopping = lack of reading time)… THE GOD DELUSION by Richard Dawkins

http://www.amazon.com/God-Delusion-Richard-Dawkins/dp/0618680004

I am about halfway and would definitely recommend it to anyone who has an inkling of a doubt about this mysterious thing we call God. Hopefully, we have all had doubts at some point — “Mommy, daddy? I thought Santa put the gifts under the tree?
Categories: My Thoughts Tags: , ,

The Holidays

December 11, 2008 Leave a comment

Christmas Tree DanceFor whatever reason, the holidays (i.e., Christmas) just don’t seem to have the same luster as before. Maybe its the fact that as you get older you just don’t have as much time to enjoy them or perhaps they don’t mean much anymore. Regardless, they just aren’t the same. 

On another note, my girlfriend is irritating me with her new iPhone. Hun, if you read this, you were being extremely irritating!
I know this one was short, but longer posts will follow. 
By the way, that’s me doing the christmas tree dance… in celebration of putting up our first christmas tree in our apartment. 
Signing off…
Categories: Holidays