And so was I.
GM The UAW should not have been bailed out. Thanks to ZeroHedge: GM Stock Slides To Fresh Post-Bankruptcy Lows
GM Stock Price vs GM Channel Stuffing:
Click to enlarge.
Mitt was right
Tag: UAW
Ethically consistent
Compared to Crony Car Capitalism grafting 5 billion in ethanol pork onto a tax-increase prevention bill is almost ethical. Of course, it’s habituation to that sort of thinking that makes it easy to give the UAW hundreds of billions when the opportunity arises. Don’t Waste It. It is the Right Thing to do.
The slope is not so much slippery as it is non-existent. That’s what statists mean when they say “level playing field.”
Read the link.
GM’s IPO: Another reason you should give it a pass
Because GM’s owners are not trustworthy.
Straight out of Atlas Shrugged
The future of the auto industry, from ProfessorBainbridge.com:
The [Wall Street] Journal report quotes one anonymous — but asinine — Obama administration official as opining that:
“You don’t need banks and bondholders to make cars,” said one administration official.
…that official — who’s probably never run any business more complicated than a lemonade stand — will soon discover just how wrong s/he was. It’s called CAPITALism for a reason, after all.
…If creditors get tired of getting screwed, the Chrysler debacle and the looming repeat at GM may mark a major shift in the ability of American business to finance operations and growth.
At least if there is union or government involvement.
RTWT and don’t skip the comments.
Obama’s first hundred days
…from page 1 of yesterday’s LSJ:
I think he has done a terrific job based on the challenges he has faced. There hasn’t been a president who has walked into the job with so many challenges1 to face. He has assembled a team of very capable people2 around him, and I have every confidence that his policies will fix what’s wrong3 with America.”
–Brian Fredline, president UAW Local 602
Emphasis mine.
Let me just say –
1 Washington, Jefferson, Lincoln and FDR.
2 Biden, Clinton, Geithner, Gibbs, Cardela and Napolitano. (Buffoon count only)
3 Too many GM employees and retirees being paid too much.