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Jason

6 months ago

in Big 3 auto bailout CRASHES in the Senate on Sagacious Rambling
General Motors had offered buyouts to all of its 74,000 U.S. hourly employees. [5] Those workers could have elected to take a lump-sum payment of $45,000 or $62,500, depending on their job description, and retire with full benefits. [6]

Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts - but not until 2011.

http://nomedals.blogspot.com
is were citations are posted

6 months ago

in Senate to Auto Industry: No Bailout for You on The Inquisitr
General Motors had offered buyouts to all of its 74,000 U.S. hourly employees. [5] Those workers could have elected to take a lump-sum payment of $45,000 or $62,500, depending on their job description, and retire with full benefits. [6]

Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts - but not until 2011.

http://nomedals.blogspot.com
is were citations are posted

7 months ago

in For Automakers, $25 Billion Is No Longer Enough on The Washington Independent
Ford Motor Co., Detroit's says it's OK for now. Although it is seeking up to $9 billion in bridge financing, but says it hopes to complete turnaround without accessing the loan should Congress agree to make the funds available. But it wants the ability to access up to $9 billion in government credit. They also said that if GM fails it could take the entire domestic auto industry down with it.

So FORD needs GM?

http://nomedals.blogspot.com

7 months ago

in Ford’s new restructuring plan on Indian Autos Blog
Ford Motor Co., Detroit's says it's OK for now. Although it is seeking up to $9 billion in bridge financing, but says it hopes to complete turnaround without accessing the loan should Congress agree to make the funds available. But it wants the ability to access up to $9 billion in government credit. They also said that if GM fails it could take the entire domestic auto industry down with it.

So FORD needs GM?

http://nomedals.blogspot.com

7 months ago

in Way to Go, Senator Tester on Intelligent Discontent
Ford Motor Co., Detroit's says it's OK for now. Although it is seeking up to $9 billion in bridge financing, but says it hopes to complete turnaround without accessing the loan should Congress agree to make the funds available. But it wants the ability to access up to $9 billion in government credit. They also said that if GM fails it could take the entire domestic auto industry down with it.

So FORD needs GM?

<a href="http://nomedals.blogspot.com " target="_blank">http://nomedals.blogspot.com

7 months ago

in Obama to Name New Economic Recovery Team on The Washington Independent
What is wrong with giving the American household a check for $13,000? The $13,000 would do much better in the people’s hands. The $13,000 is less than the government is spending on the original bailout and the new proposed $800 billion. If an economic advisory board cannot put the people before their selfish reasons something is very wrong. If the people had the money they would spend it and then jobs would be added, manufacturing would grow, and last but not least the states would gain money in the form of sales taxes not to mention the added income taxes from the extra workers.

http://nomedals.blogspot.com

7 months ago

in http://mrontemp.blogspot.com/2008/11/romney-auto-industry-and-short.html on mrontemp
For those GM employees concerned about their retirements don’t fret the Pension Benefit Guaranty Corporation (PBGC) protects the retirement incomes of nearly 44 million American workers including those at GM.

The only problem is that the taxpayer is the Pension Benefit Guaranty Corporation. Keep GM and its employees working or pay for their retirements.

http://nomedals.blogspot.com

7 months ago

in Bigger Than Detriot’s Fate on The Washington Independent
For those GM employees concerned about their retirements don't fret the Pension Benefit Guaranty Corporation (PBGC) protects the retirement incomes of nearly 44 million American workers including those at GM.

The only problem is that the taxpayer is the Pension Benefit Guaranty Corporation. Keep GM and its employees working or pay for their retirements.

http://nomedals.blogspot.com

7 months ago

in Auto Execs Fly In Style, Then Beg on The Washington Independent
How much time is lost by the GM representatives when they have to check in for a flight two hours early, or when the GM representatives are not to talk about business during the flight due to insider trading concerns?

The question is what is lost? When 12 people fly on a private jet it costs about $20,000. When 12 fly commercially to DC it costs about $12,000. Is a $8,000 savings worth the time lost?

Isn't it really worth it in the long run?

http://nomedals.blogspot.com

7 months ago

in Yet another reason why Big Auto is failing on AMERICAblog
How much time is lost by the GM representatives when they have to check in for a flight two hours early, or when the GM representatives are not to talk about business during the flight due to insider trading concerns?

The question is what is lost? When 12 people fly on a private jet it costs about $20,000. When 12 fly commercially to DC it costs about $12,000. Is a $8,000 savings worth the time lost?

Isn't it really worth it in the long run?

http://nomedals.blogspot.com
1 reply
GregNewYork Of course it is Jason.... I am utterly amazed and baffled that this afternoons press conference with Harry Reid and other senators and Pelosi even mentioned the Private Jets.

These Lawmakers are so out of touch it is pathetic... as much as I don't want to see the Republicans in charge and am happy they aren't any longer.... I am grinding my teeth in anger at these cheap talking points.

I personally called the offices today of Chris Dodd and Gary Ackerman..... sounding off my disaproval of their cheap shots at the BIG 3 auto execs.

You are dead on with the 12 people flying...... it is cost efficient to take a private jet.

7 months ago

in Congress to Vote on Automaker Bailout, Likely to Fail on Business 2.0 Press
Toyota knows that unions today kill companies. Unions had a purpose today they have out lived their usefulness. I live about 20 minutes from Flint Michigan where the unions started. I have family that works and has worked for GM. One of them wipes excess sealer and he makes $44 before all the benefits he gets. I don't want to see GM close its doors but until they bust the Unions strangle hold on it. GM will have to close its doors. Another family member works at a non union parts maker and makes $19 per hour plus benefits.

7 months ago

in iPhone: Google Mobile Voice Search on The Learning Curve
The UAW needs a little tough love. It derailed the Cerberus deal at Delphi. Today GM suffers a loss of about $2,000 per vehicle sold. On the other hand Toyota whose employees are not part of the UAW earns a profit of about $1,200 per vehicle sold. If GM was able to operate with labor prices near Toyota’s it would have pocketed an additional $29,715,200,000.

GM bailout nonsense
1 reply
muckdog's picture
muckdog Thanks for the comment and link. A bailout of a failed business model is insane. And it's not even a "bailout." It's $25B that they'll burn through and then come back for more because their business model isn't working. Insanity.

7 months ago

in Congress to Vote on Automaker Bailout, Likely to Fail on Business 2.0 Press
The UAW needs a little tough love. It derailed the Cerberus deal at Delphi. Today GM suffers a loss of about $2,000 per vehicle sold. On the other hand Toyota whose employees are not part of the UAW earns a profit of about $1,200 per vehicle sold. If GM was able to operate with labor prices near Toyota’s it would have pocketed an additional $29,715,200,000.

http://nomedals.blogspot.com/2008/11/gm-bailout...

7 months ago

in For Taxpayer’s Sake: Buyout Don’t Bailout General Motors, Ford and Chrysler on James Poling
Today GM suffers a loss of about $2,000 per vehicle sold. On the other hand Toyota whose employees are not part of the UAW earns a profit of about $1,200 per vehicle sold. If GM was able to operate with labor prices near Toyota’s it would have pocketed an additional $29,715,200,000.

http://nomedals.blogspot.com

7 months ago

in The Best Explanation so Far for Paulson’s Bailout Behavior on The Washington Independent
What do we really expect? Congress gave Paulson authority the authority to do as he decides is important. Congress has failed us again just like they did during the run up to war. As usual they are PASSING THE BUCK.

http://nomedals.blogspot.com

7 months ago

in Paul Broun, Georgia GOP Rep. Says Barack Obama Will Establish Gestapo-Like Security Force To Impose Marxist Dictatorship on Black Political Thought
The Fed is transparent in that it is subject to the oversight of Congress. Is twice a year not fast enough? The intent of Congress in shaping the Federal Reserve Act was to keep politics out of monetary policy. Legislation requires that the Federal Reserve reports annually on its activities to the Speaker of the House of Representatives.

http://nomedals.blogspot.com
1 reply
Janet Shan's picture
Janet Shan Jason -- the question again is why the secrecy? Yes, they are overseen by
the Congress, but since this financial mess has started, how much does
Congress really know about what Paulson & Co. is doing? I agree with
Bloomberg, the truth needs to come out as to where this money went.

7 months ago

in I'm Not Telling on KRU Stuff
The Fed is transparent in that it is subject to the oversight of
Congress. Is twice a year not fast enough? The intent of Congress in
shaping the Federal Reserve Act was to keep politics out of monetary
policy. Legislation requires that the Federal Reserve reports annually
on its activities to the Speaker of the House of Representatives.

http://nomdeals.blogspot.com

8 months ago

in Financial Criminals Show Themselves on rise up Rochester
Today the value of the Gold held is the US is worth $210,585,164,529.42 at today's prices. The rest of the world's holdings are $561,554,397,491.24


http://nomedals.blogspot.com

8 months ago

in Financial Crisis Leaves Few Countries, ETFs Untouched on ETF Trends
History tells us that if the US enters recession the rest of the world will follow, but the US will be the first to emerge from a recession.

It isn't the end of the world as we know it. YET!

http://nomedals.blogspot.com

8 months ago

in Bernanke Gets Behind 2nd Stimulus Bill on The Washington Independent
Foreign ownership of the national debt is as of July 2008 $2.7 trillion. The balance is held by Intragovernmental Holdings and Debt Held by the Public. Where does the money for all these bailouts and stimulus program come from?

http://nomedals.blogspot.com

8 months ago

in Bernanke testifies on possible fiscal stimulus package on OpenMarket.org
Bailout this Bailout that...Where does the money come from in the so called global financial crisis. Have you looked into who owns the U.S. debt?

http://nomedals.blogspot.com

8 months ago

in Credit Default Swaps: A blind date goes wild on TodaysFinancialNews.com LLC
The Credit default swaps market represents $16.4 trillion. The $700 billion bailout represents 4.31% of the total market. http://nomedals.blogspot.com

8 months ago

in The Enterprise Soft Spot, er, the Enterprise Email Crisis on Scobleizer
The 2008 farm bill in the US caused the economic crisis.
http://nomedals.blogspot.com

8 months ago

in Enterprise Software Gets Credit-Crunched on JasonKolb.com
Do you have a Private mortgage insurance (PMI) policy? If you do your PMI insurer has passed along their risk by buying a credit default swaps (CDS) to protect them in the event you have your home that your home is taken away from you. CDS and PMI are the same thing. Make people wanting to buy a home put at least 20% down if you don't like them. nomedals.blogspot.com

8 months ago

in Understanding the Mess We’re In on The Washington Independent
Do you have a Private mortgage insurance (PMI) policy? If you do your PMI insurer has passed along their risk by buying a credit default swaps (CDS) to protect them in the event you have your home that your home is taken away from you. CDS and PMI are the same thing. Make people wanting to buy a home put at least 20% down if you don't like them. nomedals.blogspot.com
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