Powered by Max Banner Ads
GM Preparing Bankruptcy Plans
According to Bloomberg, GM is speeding up plans for bankruptcy even as the board prepares another restructuring plan for Obama. GM is going to end up going into bankruptcy, because they still have the albatross around their neck called the UAW. The union has destroyed the American car industry and no amount of “restructuring” by the Obama administration is going to cure that.
The fastest way for the American auto industry to become profitable and competitive again is to get the hell away from unions. That’s never going to happen especially under this administration, therefore the auto companies are destined for bankruptcy.
Leftist Enemies Trying To Bankrupt Sarah Palin
The left has many slimy tactics when it comes to smearing republicans, but what they’re doing to Sarah Palin is unconscionable.
According to NRO, Palin’s enemies in Alaska have been trying to get revenge on her ever since she returned from the presidential campaign.
The left’s weapon of choice — bankruptcy. They’ve filed more than 10 ethics complaints against her and more than 150 Freedom of Information Act requests. The ethics complaints are frivolous and petty designed to do her financial damage more than anything else.
The newest ethics complaint stems from her husband’s participation in the Iron Dog snow machine race. Sarah Palin wore a jacket advertising her husband’s sponsor, Arctic Cat Inc, while “in her official duties” as governor” when she served as official “starter” for the race.
Another complaint was because she spoke to the media (Greta Van Susteren) about the presidential campaign while sitting in her office.
The result of these ridiculous complaints on Palin herself are legal fees totaling more than $500,000 which is more than four times her salary. She says she may be forced to create a legal defense fund if this keeps up.
So the intention here is clear. Not only is the left trying desperately to destroy her reputation nationwide, but also destroy her financially. This is how the left always plays the game. It’s never enough to defeat someone politically, they aim to destroy lives.
-Chris Jones
Barney Frank Worried Auto Industry Bankruptcy Would “Bust” Unions
Barney Frank is in favor of bailing out the auto industry largely because bankruptcy might “bust” the auto unions. What Barney doesn’t get is that the only way to make the U.S. auto industry a viable industry again is to do just that.
The unions have absolutely crippled the auto industry to the point of near extinction. It’s impossible to stay competitive or get anywhere near competitive when unions have a choke hold on things. It costs an average of $73 an hour to employee a union auto worker. Contrast that with the $43 an hour for the non-union auto workers of Japanese car companies in the U.S.
In a free market system if your business doesn’t generate a profit — you go out of business. The only reason the big 3 auto makers didn’t go bankrupt years ago is because we keep propping them up.
We can give the auto industry 25 billion or 50 billion and it won’t matter. In a few months, they’ll be standing before Congress with their hands out again. Their current business model is simply unsustainable. To keep it going artificially simply for he seek of greedy unions is an outrage.
The fact that Barney Frank is still a member of congress is also an outrage given his responsibility in the Fannie/Freddie mess — but that’s for another day.
-Chris Jones
Posts
