Showing posts with label General Motors. Show all posts
Showing posts with label General Motors. Show all posts

Tuesday, September 11, 2012

Laundry List of Obama's Failures (not the full basket)

I don't take this message lightly. But today's events are the transparency that President Obama doesn't want you to see. But he knows he's going to lose... he has dropped his facade.

THE UNITED STATES IS IN DIRE TROUBLE. WE HAVE NOVEMBER 6TH TO CHANGE IT.

Today in Cairo, Egypt, the US embassy was raided, the US flag pulled from the pole, and a black flag raised as chants of "There is no God but Allah and Mohammad is his messenger" were heard.

Today in Libya, the US embassy was raided and burned to the ground. An American has been killed.

Today, US Intelligence reports that Egypt's Intelligence chief and a top Iranian spy met in a secret meeting. This obviously causes fear in Israel. (Not that our President makes it to any of his Intelligence meetings.)

What is the President of the United States of America's response to all of this? He rejects a requested meeting with Israel's Prime Minister Netanyahu. President Obama's excuse is... "I'm too busy," then promptly announces an appearance on David Letterman.

When it was announced that the language of God and Israeli support be restored to the Democratic platform because Obama wanted it, who believed it then? Who still believes it now?

Moody's looks to downgrade US credit... again. Twice in one Presidency, while the President tries to blame others for the problem.

The Washington Post states what I am feeling, "Obama is on track to have the worst job record since WWII"

WE HAVE A USURPER IN OUR WHITE HOUSE. He MUST be impeached for he has performed a multitude of actions that are deemed impeachable (the above list is not that list). But this won't happen. The only way to remove him from office is by election.

SOUND THE WARNING AND GET OUT THE VOTE! WE MUST ELECT MITT ROMNEY AS THE NEXT PRESIDENT TO RESTORE AMERICAN EXCEPTIONALISM.

Monday, July 9, 2012

Lawsuit Filed Against Government Motors For Channel Stuffing; Dealers 'Double Dip' Tax Credits

A class action lawsuit has been filed against General Motors aka 'Government Motors' (GM) for channel stuffing dealer inventories at their dealers. In the mean time, their dealers have been double dipping tax credits to increase their profits. The Federal Gov't says since they are buying fleet vehicles from GM & cannot use the tax credits, the dealers can pocket them.

GM is one of the prime examples of 'crony facism' in the US, only this time the owners of GM are not benefiting, rather the labor unions that received sweetheart deals during the GM bankruptcy. Who suffers? Why of course, you do as the 32% common equity taxpayer 'owner' of this company, for propping it up so union bosses can profit, for paying for the $7,500 tax credit to purchase a Chevy Volt, for paying for the tax credits to the GM dealers, and for paying for the vehicles produced by GM sold to the Federal & municipal Gov'ts. A sure fire loose-loose situation at every turn for the underlying 'owner,' YOU. Moreover, Obama wants to increase the subsidy on the purchase of a Chevy Volt to $10,000 per car that would increase the cost to taxpayers to 10 billion dollars!

Outraged yet? Let's not forget the individuals, mutual fund, institutional & individual shareholders and bondholders of pre-bankruptcy GM that were either wiped out or faced 'cram downs' on their bonds as the Gov't under Obama circumvented existing & well established bankruptcy laws to favor a result for their labor union cronies. Are you tired of paying your "Fair Share" yet?

First,let's get to the background with the underlying 'con' of this cronyism debacle:

Next to the facts from two sources, the National Legal & Policy Center (NLPC) and Bloomberg News. From NLPC: