The investment that’s Left

Last week the president took time off from golf and fundraising to brag about what a great thing he did in bailing out the UAW General Motors:“Now, I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”Barack Obama, Pueblo, Colorado - Thursday Aug 9“I want… Continue reading The investment that’s Left

Competitors be warned

Government Motors has powerful allies: The White House, FBI, FCC, NLRB, EPA, IRS, etc., etc. Ford pulls its ad on bailouts This is what happens when government seizes corporations. If it will decide to give money to a corporation going bankrupt, to negate legal contracts... to suspend the rule of law, then government owns the… Continue reading Competitors be warned

Turning America into Detroit

The congresscritters in Atlas Shrugged said things similar in meaning, but not one of them was so dumb as Maxine "Moral Hazard" Waters. If they [banks] don’t come up with loan modifications and keep people in their homes that they’ve worked so hard for, we’re going to tax them out of businessThe ways in which… Continue reading Turning America into Detroit

Gas prices are too low

General Motors CEO Dan Akerson thinks the federal government should raise gas taxes by as much as $1 per gallon. He thinks this would make customers more receptive to smaller more fuel-efficient vehicles.According to the Detroit News:A government-imposed tax hike, Akerson believes, will prompt more people to buy small cars and do more good for… Continue reading Gas prices are too low

Corporatists to the left of me, whores to the right…

..."Stuck In The Middle With You"Apologies to Gerry Rafferty and Joe Egan.There was whining in the letters page of the Lansing State Journal about GM spending millions on Superbowl ads. Oh well, I consider this to be a legitimate business expense. That doesn't mean I like paying for it, but if they are going to… Continue reading Corporatists to the left of me, whores to the right…

Taxation in spite of representation

FERC YOU!From the Wall Street Journal (requires registration):The Midwest Wind SurtaxYou'd think poor Michigan has enough economic troubles without the Federal Energy Regulatory Commission placing a $300 million to $500 million annual surtax on the state's electric utility bills. But on December 16 FERC Chairman Jon Wellinghoff announced new rules that would essentially socialize the… Continue reading Taxation in spite of representation