Chrysler Bankruptcy: Obama Exposed
Frankly we’re dead tired of politicians telling us one thing and the market telling us another. After reading Warren Buffett’s biography, I have learned many lessons.
Lesson #1: The market is always right. Politicians spend money, they don’t earn money. They have no idea what it’s like to risk everything you own to make a profit and support employees, communities and the business overhead. Worse, most of them including Obama, want to take whatever profit is left and give it away to everyone else to support their spending.
Both Detroit papers are eating crow this morning. If you went to bed last night thinking Chrysler was safe, you gagged on your morning coffee.
Granholm is worse. She still lives in a fairly land and she zooms across the country ignoring the realities of her state. She is already spending $125 MILLION PER MONTH more than budgeted. Her deficit is nearly doubled and yet what is she doing about it? Raising taxes and introducing a gradual income tax so those that are making any money in Michigan can give more to her.
Lake Orion is wearing black because it doesn’t know if it’s 4,000,000 sq. ft. Pontiac plant is going to survive. The plant makes the popular G6 model but we know that Pontiac is being flushed down the preverbal toilet next year.
GM is closing plants and recently told its salaried staff to take a long vacation this summer; you are not needed. June 1 is the deadline for GM to declare bankruptcy. Let’s make it tomorrow. We need to know already our future so we can plan accordingly.
But no, the politicians love this. Obama has criticized Bush over "water boarding"; I think residents of the state of Michigan has been tortured for 8 years and we don’t even know when it’s going to end.
Private equity can’t run a car company. A GE executive can’t run a car company. Heck, Bill Ford Jr. himself stated he can’t run a car company and he wisely stepped aside. Whatever our future here in Michigan is, let’s get some people who can run a car company or two and perhaps in the same odds as winning the $220 MILLION lottery, someone who can run this state.
Happy Thursday!
April 30th, 2009 at 10:48 am
Did you hear about the photo op for Air Force One? It flew low over Manhattan amid the skyscrapers being chased by a F-16 Fighter Jet… talk about scary for New Yorkers to see. Obama didn’t even know it was going on, what gets worse is how much that photo op cost, and the story goes that it wasn’t even needed … Its the same with running a car company, the President/CEO is so high up of such a LARGE organization, they delegate tasks to others, to the point where they don’t even know what is going on in their organization (like Obama didn’t know about this Air Force One photo).
April 30th, 2009 at 11:21 am
I have a solution for all the problems in the state, Larry, you need to run for office. You would wipe the state into shape.
April 30th, 2009 at 11:29 am
Right On Larry !!!!! Hard to keep up with you…The Bub…as explained in the dbusiness article…
April 30th, 2009 at 12:46 pm
It is a shame, you can’t even go in a store and buy a shirt made in USA.
My husband got laid off right before Christmas from Chyrsler, we had 2 lease vehicals that both had to be turned in recently. There is not one bank that we can even get a loan through to buy a new car, or a used one for that matter. Then when you go through the place you leased your car from they won’t give ya the money to keep the car you got or let you lease it longer. It is a mess out there, and it is going to take those that can stay positive to get others that are without work right now to understand they may have it bad, but someone out there is worse off.
April 30th, 2009 at 4:16 pm
Take everything you do have and place yourself in say….. Ethiopia.
You’d be the the richest person around for miles and miles. Be thankful you’re in the USA even as troubled as it is lately.
I wonder what the Fore Fathers would say about the current state of affairs.
May 4th, 2009 at 2:35 pm
I’m sorry, but I didn’t vote for Obama or Jennifer Granholm. I’m not a Repulican or a Democrat, I vote for the person that is best for the job.
I am confused by the whole government thing when it comes to the car companies.
We don’t need our government to get bigger by owning our car companies; we need real people that know how to run a corporation in there to run our auto industry. Not a guy that was a Senator ofr 2 and 1/2 years and ran for president during most of that 2 and 1/2 yrs.
We need commerce and business to save the auto industry and Michigan for that matter.
Obama said that we need to rely on less from foreign countries; well dude set the Auto industry free to compete in the foreign car market and pay more attention to your job and the American people that rely on these jobs first and foremost!