New Chairman of GM Admits He Knows Nothing About Cars…
Let me see if I have this right… The New GM CEO knows nothing about cars, the 31 year-old, who still hasn’t graduated law school, knows nothing about the auto industry, nor has he had any real life experience, but will be overseeing this, Obama knows nothing about America, and Biden just doesn’t know anything – GIRD YOUR LOINS!
Edward E. Whitacre Jr. built AT&T Inc. into the biggest U.S. provider of telephone service over a 43-year-career. By his own admission, he becomes chairman of General Motors Corp. knowing nothing about the auto industry.
The 6-foot-4-inch Texan nicknamed “Big Ed” said steering the nation’s largest automaker after bankruptcy is “a public service.” People who know him say he can meet GM’s need for the type of transformation he orchestrated at Dallas-based AT&T.
“I don’t know anything about cars,” Whitacre, 67, said yesterday in an interview after his appointment. “A business is a business, and I think I can learn about cars. I’m not that old, and I think the business principles are the same.”
It is true that business principles remain the same, but it’s not always that cut and dry, especially in an ailing industry that has complex problems, requiring complex solutions. If Whitacre has experience negotiating and dealing with unions then that’s a huge plus, but if not, he has some learning to do, and not a lot of time. It’s one thing to reinvent a company like AT&T when you already know the issues and the core competencies of the company, as well as the inner workings of the industry. It’s an entirely different thing if you know nothing about the actual product, life cycle, or process…
Here is some common sense for a second, stay with me:
I worked as a financial analyst/specialist for government contracts at a defense contractor specifically making radars and electronic systems. I switched jobs and was doing the same financial analysis, but for biodefense products, of which I knew nothing. My job requires budgeting, forecasting, scheduling, and analysis. therefore, I must know the process, the program, what to expect, how to fix things, you name it! Because of my lack of experience with the actual product and the knowledge of the company’s competencies, I was not thrown into a leadership position right away. I was given a period of orientation to understand the job and the types of programs being managed. The basic principles of my job stayed the same, but the product and procedures were different – and it makes a huge difference.
Unfortunately, GM needs somebody that doesn’t have to have on-the-job training, but since the government is making decisions and the POTUS is currently practicing his own on-the-job training, this comes to me as no surprise. Heck! my father who has been a GM mechanic for over 30 years could probably be a better chair.
Not to worry, GM is in good hands…/sarc
The Dawning of Obamunism… GM is Officially Government Motors
Stalin would be so proud! The Donkey’s are controlling the cars:
There should be no question as to why the auto industry accepting the new CAFE standards today…
General Motors Corp’s (GM.N) plan for a bankruptcy filing involves a quick sale of the company’s healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday.
The source, who would not be named because he was not cleared to speak with the media, did not specify a purchase price. The new company is expected to honor the claims of secured lenders, possibly in full, according to the source.
The remaining assets of GM would stay in bankruptcy protection to satisfy other outstanding claims.
GM has about $6 billion in secured debt, including a secured revolving credit and bank debt.
The government’s plans include giving stakes in the new company to GM’s union and bondholders, although the ownership structure of the company is still being negotiated, said the source who is familiar with the company’s plans.
In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans that the U.S. has already provided to GM, the source said.
As I have been stating… we will never see our taxpayer dollars for any of this bailout nonsense. These bankruptcies were inevitable and they just threw money down a black hole!
The government has given GM until June 1 to restructure its operations to lower its debt burden and employee costs.
Not ‘gonna happen!
If those talks failed, the company has said it would follow rival Chrysler LLC into bankruptcy.
My father mentioned yesterday, on his birthday, that he would be finding out whether or not he would have a job today… GM will follow Chrysler, the question is when and how soon this summer?
Setting up a new company to buy the healthy assets is aimed at reassuring consumers who might not be willing to make a major purchase from a bankrupt company, fearing it would not honor warranties or provide service.
The board of the new company would be established with the tacit approval of the government. Fritz Henderson, who took the helm of GM earlier this year after the government pushed out Rick Wagoner, would likely head the new company, the source said.
GM could not be immediately reached for comment.
GM shares were up about 9 percent at $1.29. (Editing by Gerald E. McCormick)
George Soros – stop buying up GM shares for yourself!
President Bush, Integrity; Barack Obama, Floppy Fish
If there was one thing you could always say about President Bush, it is that he always stood on his principles and values. He had an enormous amount of integrity and did not compromise any of those things for political expediency. He firmly believed every move and decision he made was based on what was best for the American people. He did not rely on polling data or popularity statistics. President Bush’s firmly held beliefs in a post 9/11 world are what guided him.
Now President Obama, on the other hand, stands on his teleprompter. As he has “navigated” his way through the first 100 days in the Oval Office, we have yet to really see the characteristics of integrity or doing what is right by the American People. At least two of his cabinet members should have been tossed; Turbo Tax Tim Geithner and Secretary Napolitano, both of whom have embarrassed the Oval Office and outraged the American people. If he really stood on principle and integrity they would have been gone.
President Obama showed signs of this early in the election cycle when he said he would accept public financing of the campaign, but when the primary season was over and he was the nominee, he opted out of the system and continued to collect just shy of 3/4 of a billion dollars, most of which is untraceable. That in itself goes against the Open Government Act by fully disclosing all donors.
President Bush walked his talk after the campaign. He worked with the Democratic leadership, showing bipartisanship on the budget, FISA, immigration and other issues. The only thing he would not compromise on (thank goodness) was a troop withdrawal time table. Democrats tried in vain to force his hand as the Obama backing MSM flooded the evening news night after night with each road side bomb image they could find. Very little attention was paid to the success we were having, only the carnage. This unwavering stance against a timed withdrawal was significant because he did not want give the emboldened insurgency a window in which to “wait it out”, and to prevent these politicians from micromanaging commanders in the field. True, there was pressures to change strategies in order to combat this issue, and the administration did just that; they initiated the “surge”. And guess what, it worked! Now Mr. Obama on the other hand has shown about as much bipartisanship as Iran has shown cooperation with the UN….Uh that would be none! The GOP has been completely shut out of the administration, being told to basically shut up and sit down because “we” (the Dems) won. So much for a new era of cooperation and open government.
What people fail to realize in Iraq, is that not only did we rid the world of a very evil dictator, who’s atrocities are well documented (so in fact there is you weapon of mass destruction), shut down Dr. Germ Rihab Taha (who was identified by UN weapon inspectors specifically), the mission also brought stability to the region as a whole.
If you look back, Moamar Kadafi quickly and quietly ended their rebellious ways and cracked down on terrorists in Libya. Syria also became much more user friendly, and cooperative. So there were broader positive effects.
Mr. Obama who was not a Senator when the Congress initially authorized action in Iraq, on the campaign trail he waved the “No More War” flag like the checker flag at the end of a car race. The election was soundly anti-Bush, and all the rhetoric that goes with that. ‘When he is elected president, we will be out of Iraq in 16 months at the most. There should be no confusion about that’.
Well as you all know, the mission (and I am not complaining about this) remains on target and is, in fact, in a winding down phase. We have consolidated much of our operations to specific areas in Iraq, handed over control and security operations to the Iraqi Army and Police force in many areas, continue to train and equip those forces so when we do leave, there will be stability and peace inside the borders. Mr. Obama’s rhetoric got him into the White House, but the reality of the situation on the ground in Iraq dictated his actions. And if the people who were so hell bent on completely ditching the quote “Bush Doctrine” (as Charlie Gibson tried to nail Sarah Palin with) they would have realized that this notion of up and run out of Iraq was not plausible in the least.
President Bush was thrust into a situation that day in September, unbeknown to America or our intelligence agencies. We went from a 20 plus year time of relative peace and suddenly thrust into war, against an enemy that does not belong to a nation or state, but operates in the shadows among innocent people whom they will sacrifice without any hesitation. Yes, mistakes were made. But this nation was kept safe, and still is, by those policies President Bush put into place.
Now we have a floppy fish in the White House. Yes he was thrust into an economic situation that has not been pretty. However, Mr. Teleprompter as not shown us anything except he is bent on a socialistic agenda and that he changes his word like we change underwear.
Now Mr. Obama wants to openly (yes there is that word open again) and without preconditions, have talks with these nations that simply hate the United States. Iran, who is pursuing nuclear weapons and calling for the destruction of Israel, North Korea, who has nuclear material but can not build a delivery vehicle, Venezuela, who just yesterday seized American Owned and Operated energy sites and equipment, and Cuba, where money can now flow freely without using a 3rd and 4th party intermediary. Oh yes lets not forget Mexico. Yet, another apology from Mr. Obama and Secretary Clinton for causing the drug war along the boarder.
Mr. Obama and his economic team have showered the coffers with billions and billions of dollars in order to prop up the economy. Thus far, nothing. New jobless filings hover around 600K and overall, 6.5 million people are out of work, and counting. Now that Chrysler and GM are making significant cuts, that is going to go up more this year. Not only does that effect line workers in the auto plants, but spills out to the suppliers and peripheral businesses that support them.
Mr. Obama, first week in office broke the most basic of his campaign pledges, saying that the practice of earmarks and pork spending would immediately come to and end. Say what? The first two things he signs into law are pork laden wasteful bills that did nothing. The Stimulus package, which failed to stimulate the American people, was shoved through the congress by the new Dem Majority in the middle of the night in which no one was even able to read. And what was in there (Mr. Dodd)? Bonuses for the executives at AIG, Fannie Mae, and Freddie Mac!!! Next he signed an Omnibus bill that contained over 9000 earmarks, again pushed through on a Dem freight train in the middle of the night.
Now the administration continues to politicize national security doctrine as the administration stammers on what our evil interrogators did to terror suspects. This emboldens the enemy, teaches them our techniques so now they can prepare for what little we actually do. The September 10th mentality of the administration puts us in jeopardy. Many of the policies that Mr. Obama so vehemently touted against remain in effect. The naval prison at Guantanamo Bay was ordered closed yet remains open as Obama plans where to send its inmates; the president has yet to establish a coherent policy on Iran — following in the Bush administration’s footsteps and while American troops are being removed from Iraq, most will stay in place until 2010.
It is important to note that all the enhanced interrogation tactics that we used actually yielded crucially important intelligence that helped keep this country safe,” with the eight years of safety on the home front since Sept. 11, 2001. Even though congressional leaders claimed to be left out of the loop on these techniques, it was revealed that the same Dem leaders, who bewitched President Bush, were duly informed of those methods. But as Dems, true to color, they pretended to take the moral high road, and were thus outed as hypocrites using this issue for political expediency.
Obama’s own Director of National Intelligence, Dennis Blair, wrote an internal memo last week citing the “high value” information about Al Qaeda’s operations yielded by tactics such as water boarding, but its morality has been called into question by human rights monitors and many others both in and out of the Obama administration.
So therein lays the conflict with this administration. Integrity, direction, political expediency, governing by polling data, and letting Nancy Pelosi write its budget a mere 3 Trillion and some change.
So we as Americans have to wonder, where the transparency, openness, and new era of cooperation is. Yeah, that is right, so sorry, we lost.
The Puppet Makes Budget Cuts… To Help Unions
We all know that Obama is bought and paid for by the unions and he once again proves that he is in their pocket. He makes these grandiose overtures to try and pass off budget cuts of historical proportions or market himself to appear to be improving the national debt.
Those who research and do our homework know that those overtures fall flat, especially when one of the largest cuts from the federal budget is the 9% budget cut of the union regulations department. This comes from the Department of Labor via American Spectator:
…buried in the budget documents released by the White House today is a 9 percent cut in the unit of the Department of Labor that is in charge of regulating unions.
Under the leadership of Elaine Chao during the Bush administration, the Labor Department’s Office of Labor-Management Standards took its job of policing unions seriously. Its actions led to 929 convictions of corrupt union officials and to the recovery of more than $93 million on behalf of union members. Yet the Obama administration has proposed slashing its budget from $45 million in 2009 to $41 million in 2010, citing an insufficient “workload” for the office.
Instead of using the money to make sure unions play by the rules, the Obama administration proposes shifting resources to the department’s Wage and Hour Division, Office of Federal Contract Compliance Programs, and the Occupational Safety and Health Administration — all areas of the agency focused on regulating businesses.
Not like union regulation matters anymore when the Department of Education is growing at a rapid clip and the UAW owns GM and Chrysler. I guess the unions can all manage themselves – no corruption there/sarc.
Half of the budget cuts under Obama will actually come from the defense budget:
About half of the cuts are in the Defense Department’s budget, and the White House readily concedes that Defense Secretary Robert Gates already had proposed much of this as part of a new, and bigger, Defense budget that he is seeking. Defense is growing, not shrinking.
Funny how a recent Rasumussen Report just showed the majority of Americans do not believe the unions or the government will manage the auto industry well.
Another funny side note: Bush actually cut more from the budget than Obama.
President Obama announced fewer budget cuts and for a lesser dollar amount than President George W. Bush did in his final budget – and is counting on being able to eliminate some programs that his predecessor repeatedly tried, but failed, to slash.
Obama administration officials said they’re convinced they’ll have more luck eliminating programs such as Even Start, an early childhood education program that Mr. Bush put on the chopping block year after year but which both Democrats and Republicans in Congress refused to cut.
