The Conservative Cave
Current Events => Breaking News => Topic started by: SSG Snuggle Bunny on February 16, 2009, 03:17:56 AM
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(http://www.therealestatebloggers.com/images/obama_busted_small.jpg)
DETROIT — President Obama has dropped the idea of appointing a single, powerful “car czar†to oversee the revamping of General Motors and Chrysler and will instead keep the politically delicate task in the hands of his most senior economic advisers, a top administration official said Sunday night.
Mr. Obama is designating the Treasury secretary, Timothy F. Geithner, and the chairman of the National Economic Council, Lawrence H. Summers, to oversee a presidential panel on the auto industry. Mr. Geithner will also supervise the $17.4 billion in loan agreements already in place with G.M. and Chrysler, said the official, who insisted on anonymity.
The official also said that Ron Bloom, a restructuring expert who has advised the labor unions in the troubled steel and airline industries, would be named a senior adviser to Treasury on the auto crisis.
The unexpected shift comes as G.M. and Chrysler race to complete broad restructuring plans they must file with the Treasury by Tuesday. The companies’ plans are required to show progress in cutting long-term costs as a condition for keeping their loans.
The administration official said the president was reserving for himself any decision on the viability of G.M. and Chrysler, both of which came close to bankruptcy before receiving federal aid two months ago.
One of President Obama’s top advisers said Sunday that the administration had not ruled out a government-backed bankruptcy as a means to overhaul the automakers.
“We’re going to need a restructuring of these companies,†the adviser, David Axelrod, said on “Meet the Press†on NBC. He added that a turnaround of the companies would “require sacrifice not just from the auto workers but also from creditors, from shareholders and the executives who run the company.â€
The automakers had been expecting the appointment of a car czar to break the logjam of negotiations with the United Auto Workers over the finances of a retiree health care trust, and with bondholders about reducing the companies’ debt.
http://www.nytimes.com/2009/02/16/business/economy/16auto.html?_r=1
In my worst days of despising Clinton I don't ever think I found myself saying, this cat doesn't have slightest idea about what he's doing or wants to do.
Granted, the car czar was a stupid idea but we were lead to believe Obama had a veritable financial SWAT team ready to go to work on day 1. The automakers certainly thought so because they've been sitting there waiting for variables that have never been fed into their equations. Instead they we get Turbo Tax Timmy and some union insider to help the automaker decide how to cut costs but can't because the unions won't budge.
Meanwhile, Obama, who has never held a wage-earning job in his life let alone in the financial sector and who famously pissed away $150 million trying to educate a mere fraction of Chicago's school children to no avail, will decide HIMSELF what constitutes solvency for these mega-multi-national corporations.
The American people need to wake-up...fast! This idiot's poll numbers need to tank hard so he can be reined in.
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It will be awhile before his numbers tank - as long as people have hope of a merry giftmas coming their way, and they continue to think that " Bush would have done worse " his numbers will stay above half.
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It will be awhile before his numbers tank - as long as people have hope of a merry giftmas coming their way, and they continue to think that " Bush would have done worse " his numbers will stay above half.
But, when they do tank, they'll tank really hard. Maybe enough to destroy the Donks for a generation or two.
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the president was reserving for himself any decision on the viability of G.M. and Chrysler
Ho. Lee. Crap.
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But, when they do tank, they'll tank really hard. Maybe enough to destroy the Donks for a generation or two.
Oh yes. Once the realization of unemployment and stagflation hits it will crush many many souls.
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It will be awhile before his numbers tank - as long as people have hope of a merry giftmas coming their way, and they continue to think that " Bush would have done worse " his numbers will stay above half.
as was stated in another thread here, he could set babies on fire on national television and his numbers wouldn't go below 30%, just due to demographics
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They're down in Rasmussen's Sunday update. SApp-37%, SDis-26%, index 11. This is a 3-day rolling avg. We'll see what they say today.
A task force. A committee. Whatever. Ever been on one at work? You show up to meetings, shoot the shit over donuts, not listen to someone yammer on, daydream about someone in the same room, agree to next meeting date (in about a month), and adjourn. No accountability, no results. A dreamjob for the lazy. As a matter of fact, this is what I HOPE they do.
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They're down in Rasmussen's Sunday update. SApp-37%, SDis-26%, index 11. This is a 3-day rolling avg. We'll see what they say today.
A task force. A committee. Whatever. Ever been on one at work? You show up to meetings, shoot the shit over donuts, not listen to someone yammer on, daydream about someone in the same room, agree to next meeting date (in about a month), and adjourn. No accountability, no results. A dreamjob for the lazy. As a matter of fact, this is what I HOPE they do.
The index was at over +20 a few days after the Onauguration. It's coming down rather quickly. I think that there's a lot of Americans who are saying, "I voted for this???" They're not as confident that the "Hope and Change" will be positive for them.
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As awful as it was the Car Tsar was a better idea than design by committee. Remember, Mr. Obama's going rto be telling us what we want to drive! And you'd BETTER like it!
Remember the Yugo? A fiat 127-8 REDESIGNED by BUREAUCRATS and many forced to drive exceptionally poor death traps for 35 or so years.
And the ZIL......OLD Packard designs mostly. They must have had a contract to buy old Packard body stamping dies. Both in Stalin's era, and after.
http://www.autosoviet.altervista.org/ENGLISH-automotorusse9-G(Zil).htm
Isn't that great? Maybe we can all drive the same car for the next 35-45 or so years....
Obama is clueless, and his staff , retread would be socialists all, is begining to be seen. No matter how he mugs, proflies and reads off his teleprompter, the economies reaction to forced socialism will not be different that historically, that is, it will continue to cool.
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But, when they do tank, they'll tank really hard. Maybe enough to destroy the Donks for a generation or two.
I thought that would be the result of the Carter presidency. But slick willy got elected 12 years later, albeit with just a plurality.
Actually, I think Obama is the first democrat to get a majority of the popular vote since Johnson.
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But, when they do tank, they'll tank really hard. Maybe enough to destroy the Donks for a generation or two.
I'm afraid Obama has set back the progress of blacks in politics a whole generation. I'm almost starting to wish Hilary was up there instead of Obama. I disagree with her policy goals just as much as I do with Obama's, and I don't think she's the smartest woman in politics by any means, but at least she isn't flat-out stupid, as it now appears Obama is.
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Ho. Lee. Crap.
***As Carnac the Magnificent***
Vietnamese President....U.S. General.......Democrat economic policy.
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Aw, c'mon.
Tell me I'm not the only one here old enough to remember Carnac?
:(
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Aw, c'mon.
Tell me I'm not the only one here old enough to remember Carnac?
:(
One of Johnny Carson's more memorable characters. Late night TV has never been the same since he retired.