You may recall that during the presidential election, the Treasury Department refused requests by General Motors to unload the government´s stake in the giant automaker. Taxpayers had sunk $50 billion into a union bailout in 2009 and were now proud owners of 26.5 percent of the struggling company. Reportedly, GM had growing concerns that the stigma of "Government Motors" was hurting sales in the United States. At the time, any transaction would have come at a steep loss to taxpayers and undermined the president´s questionable campaign assertions that the auto union rescue had been a huge success.
Reply 1 - Posted by:
M Stuart, 12/21/2012 5:32:28 AM (No. 9077142)
I haven´t forgotten the prediction that the unions would as quickly as possible want to divest themselves of a large enough percentage to absolve themselves of responsibility for operations and could start the whole blackmail system again.
Why isn´t 0bama back in Detroit crowing about the "successful" auto bailout?
The fundamentals that got Goobernment Motors in trouble are still there. GM will be beck in bankruptcy in short order. One wonders with a Rebublican House if Obambi can waste our money on Union goodies once again.
I´m still amazed how many people still cite the "million jobs saved" meme. If GM went bankrupt, it would have either reorganized or had untis sold off. Either way would have kept jobs since market share would be there to fill with competition having no capacity avaliable.
Never any mention of the dealers closed or the non-union workers terminated - only union. Oversight???
There are many of us who will NEVER buy a GM product again, ever. 0bama screwed the American people in order to reward these overpaid ignorant and arrogant union people who will eventually be out of jobs. All of them. The taxpayer is still bailing out GM, because the main loan company, Ally, is owned 80% by the taxpayer, and this allows GM to sell cars for 0% down, 0% interest, and 0 payments for months, because it is the taxpayers that are taking the loss. Some of us are not stupid.
The South African Communist Party is admitting Nelson Mandela was a high-ranking member. Will the media report these facts? Or will the “myth” continue to prevail? My friend Victor Lasky used to write books about liberal or left-wing figures that carried the name of the person and the subtitle, “The Man and the Myth.” He would compare the coverage of a political figure with the truth. The coverage of the death of Nelson Mandela has focused mostly on the myth. Key facts are being omitted, including Mandela’s secret membership in the South African Communist Party (SACP), which may shed light on
This week Vice President Joe Biden found himself in a tense situation as he visited Japan, China and, currently, South Korea. What was meant to be a routine visit to the three countries turned into a diplomatic peace keeping mission regarding China´s expanded air zone, and the media there has been keeping tabs on how well Biden´s doing. Japan and South Korea are upset with China because it expanded its air zone into their air zones on November 23. China thinks Japan started it — it being the escalation of tensions — but the world points out that China announced
At a fundraiser in Seattle on the day before Thanksgiving, President Obama told a group of Democratic donors, apparently without a hint of irony, “I’m not a particularly ideological person.” One wouldn’t know it from the ponderous 48-minute oration on income inequality that he delivered in Washington on Wednesday. Mr. Obama devoted the majority of it to the cause of lamenting a “dangerous and growing inequality and lack of upward mobility” that he says is jeopardizing the middle class. The unraveling of the “social compact,” he said, began in the late ‘70s. “The result is an economy that’s become profoundly unequal,
It was a sunny day in Beijing on Thursday—refreshingly sunny, to be more precise—when Vice President Joe Biden met Chinese Premier Li Keqiang. I know this because I have read the pool report of the occasion, a pithy and practically content-free piece of journalism that is nevertheless one of the more entertaining things to enter my inbox in recent days. The pool report confirms the lingering suspicion—if it hasn’t been confirmed a million times already—that the line between journalism and Democratic Party cheerleading has more than faded. It has become invisible. Pool reports are summaries of official events distributed to reporters,
W hen unexpected events happen — be they natural disasters or terrorist attacks — the consequences can be dire. As a result, governments have gone to great lengths to prepare for the unexpected as best they can, stockpiling scarce resources in case supplies get cut off. The most famous example is the United States’ Strategic Petroleum Reserve (SPR). With a capacity of 727 million barrels of oil, the SPR is the largest stockpile of government-owned emergency crude oil in the world. Established in the aftermath of the 1973-74 oil embargo, the SPR is meant to offset a potential disruption in commercial oil
When Barack Obama was catapulted into the Oval Office in 2008, it was with the help of millennials who turned out in record numbers and voted for him two-to-one over the GOP’s John McCain. Now his signature issue — ObamaCare — is in deep trouble. Once again, he is looking to America’s young to come through for him. Once again too, he’s relying on a campaign of speeches and public appearances to get them to do so. But in sharp contrast to 2008, he’s making his new appeal to a much more jaded demographic. According to a Harvard University poll released this
Amid growing outrage at the Obama administration’s determination to strike a deal with jihadist Iran that not only allows Iran to enrich uranium but also permits it to continue imprisoning and torturing American citizens, Secretary of State John Kerry spoke up to defend his State Department’s diplomacy. During a press availability at NATO headquarters, Secretary Kerry said this regarding Obama administration efforts to free Americans held captive overseas, including Pastor Saeed Abedini, a U.S. citizen held in Iran simply because of his Christian faith: One day is too long to be in captivity, and one day for any American citizen is more
Last summer on his $100 million family tour of Africa, Barack Obama hoped for a priceless photo op with Nelson Mandela, the ailing freedom pioneer who went from prison cell to the presidency of South Africa. Mandela´s family suggested that wouldn’t happen. So, the Obamas did a photo op in Mandela´s former prison cell. Which Obama’s White House quickly tweeted upon word of the icon´s passing at 95. [Skip] But Obama was also caught staring at television coverage of Mandela’s passing, which became Obama’s Photo of the Day.
Hardly a week goes by without Hillary Clinton receiving another award. Last month she was named a “Global Champion” by the International Medical Corps, received the American Patriot Award at the National Defense University Foundation and the Hermandad Award from the Mexican American Leadership Initiative. [Snip] At this rate, if a bunch of elderly left-wing Swedes toss her the Nobel Peace Prize early on, the way they did to Obama, it will barely rate mention among all the other glittering trophies that have been bestowed on a woman whose only actual accomplishment was being married to a crooked governor with
Denver - A baker who refused to make a wedding cake for a same-sex ceremony must serve gay couples despite his religious beliefs or face fines, a judge said Friday. The order from administrative law judge Robert N. Spencer said Masterpiece Cakeshop in suburban Denver discriminated against a couple "because of their sexual orientation by refusing to sell them a wedding cake for their same-sex marriage." The order says the cake-maker must "cease and desist from discriminating" against gay couples. Although the judge did not impose fines in this case, the business will face penalties if it continues to turn away gay
Speaker John Boehner said his party should support gay Republican congressional candidates and urged his colleagues to “be a little more sensitive” when running against women. “Some of our members just aren’t as sensitive as they ought to be,” Boehner said. When asked if he thinks his party should support gay candidates, Boehner simply said: “I do.”
In February, the Bush family’s personal emails were hacked by Guccifer, a hacker who uncovered photographs of former President George H. W. Bush in a hospital bed and George W. Bush’s oil paintings in the process. It seems Guccifer has struck again, this time targeting former President Bill Clinton and the Clinton Library. The hacker has reportedly uncovered doodles of Clinton drawing on what were, at the time, classified documents. Among the doodles is apparently a picture of a penis. The document uncovered is a briefing of the strategic measures the United States could take prior Clinton’s decision to intervene in
Former President Bill Clinton shared an anecdote regarding Nelson Mandela and the aftermath of his impeachment Friday on CNN. Clinton revealed shortly after the “impeachment business” finished on Capitol Hill, Rep. Henry Hyde (R., Ill.) who managed the impeachment trial requested a meeting at the White House. The former president granted the meeting out of lessons of humility and forgiveness he learned from Mandela, he said: BILL CLINTON: I remember one day, oh, about a month after the whole impeachment business was over, Henry Hyde, who had run the whole show, unbelievably enough, maybe a few months after, it was
The most curious thing of all about the November jobs report released on Friday was the huge drop in the unemployment rate — and the fact that the Labor Department chose not to disclose that the data going into that figure are under investigation for falsification. On Nov. 19, I broke the news in my column that the Census Bureau, which collects data that goes into the jobless rate on behalf of Labor, had caught one of its enumerators fabricating interviews in 2010. The culprit said back then (and to me during an interview) that he was told to do so by