Can somebody ‘splain this???

Now I’m not gonna say I’m a little skeptical, but…

The Administration has fired the CEO of GM, are they now telling GM to dump Pontiac and fire 21,000 people? What is going on behind the scenes that we are NOT being told, what level of control is the Administration REALLY exerting?

GM said that it will ask the government to take more than 50 per cent of its common stock in exchange for cancelling half the government loans to the company as of June 1. The swap would cancel about $10 billion in government debt.

In addition, GM is offering stock to the United Auto Workers for at least 50 per cent of the $20 billion the company must pay into a union run trust that will take over retiree health-care expenses starting next year.

If both are successful, the government and UAW health-care trust would own 89 per cent of GM stock, with the government holding more than a 50 per cent stake, CEO Fritz Henderson said in a news conference at GM’s Detroit headquarters.

Now I’m just a dumb ol’ country boy, but that math ONLY leaves 11% for all the current stockholders.

What are they supposed to do now???

And what happens to all the money they invested? And how much say will the shareholders have (looks like not a damn bit to me)???

Oh yeah, and the Lightbringer is trying to “force” a deal for Chrysler- Like Fiat is going to bow to him… NOT!!!
And the rest of the story is coming out on the Air Force One flyover- There is now an issue with the White House Military Office, run by Caldera who did graduate from West Point, but only served five years (all at Ft. Dix) instead of the normal seven years after commissioning. He then went into law and politics, and climbed the democrat ladder until he was Secretary of the Army 98-01 under Clinton.

Now if you believe the media, NO ONE ELSE in the administration knew this overflight was planned… Hmmm, lemme see POTUS was not notified his plane was going to be unavailable? I don’t think so…

And oh yeah, nobody was notified, except… well…

The FAA, NYPD, Bloomburg’s office (gee, guess they forgot to tell him) and ‘supposedly’ the FAA told NYPD not to broadcast what was going on…

But Caldera has been told to fall on the sword, so it will be interesting to see what plum position he gets after “resigning”!

Oh yeah, why a new picture? Because the Lightbringer didn’t want to use the one of Air Force One over Mt. Rushmore, because that was ‘representative’ of the Bush administration!

Is it really any wonder the Lightbringer is at 56% popularity and is only more popular than Clinton at 55% at the end of the 1st 100 days?

I mean, really, what campaign promise has he NOT broken yet??? sigh… Or better yet, what campaign promise has he kept???

soap box back to the corner… again!!!


Can somebody ‘splain this??? — 15 Comments

  1. So long as the .gov owns one share of GM, I’ll never own another GM vehicle.

    Chrysler needs to repay their debt before another new Jeep sits in my driveway. And I was really looking forward to getting a Wrangler for my next vehicle.

    I guess now it will have to be a Ford F150.

  2. Do believe this is turning into a genuine ol fashioned cluster frak. I agree,looks like stockholders would have little imput.If the Benz folks could’nt make Chrysler prosper,how in the hell is Fiat supposed to make it happen.When I watch the actions of this administration,they bring new meaning to arrogance and clueless.Wait till this flu thing,gets rollin full tilt boogie.Lord help us,we are in for a ride.

  3. You best just leave the soap box out and walk around it . If you keep sliding it to the corner it will be worn down to a soap stick by the end of his term LOL .

  4. Heh! I’m looking forward to the entirely new breed of ugly OSHA/EPA crapmobiles .gov experts will design and deliver.

  5. JR- I just bought a new Yukon, it will be my last until things get unscrewed… sigh…

    Diller- Agreed! Hell, Fiat couldn’t make money when the Italian Govt was propping them up! This administration (and I use the term loosely) is looking more and more like Clinton- Do crap, screw up, do something else, screw it up, blame everybody but the people in charge… rinse… repeat…

    FD- Probably… sigh…

    Lorimor- Probably run/act like the “microsoft” car!

  6. When the wheels fall off my ’01 GMC, it’s Nissan Titan Time.

    But then again, GM lost my business when they decided everything more plush than a work truck simply HAD to have On-Star.

    WV: “odlized” Obama-iDOLIZED??

  7. Rick- Understood. I looked at a Titan, and that was not what I wanted. I needed an SUV type vehicle because of going to the range, etc. and the need to keep things locked up. When it was all said and done, the Yukon was the best buy. Do I like all the extra crap? No… but for $4k less, I’ll put up with it.

  8. I would say that I’m impressed that the ol’ jackass has accomplished so many socialistic agendas in only 100 days, but I’m too scared. But, funnily enough, none of his agendas are even close at actually HELPING anyone but the government’s own power grab.

    I’s scared I’s tells ya!

    I think I’m qualified to say this- Thanks for explaining the situation to people like me. You’ve thrown in some interesting Military info that I have been unaware of.

    Yeah, the media and Obama have ignored Military news. How shocking!

  9. I currently own two GM cars and have owned a series of Blazers/Tahoes/Yukons before that. Now it will be Ford if I ever buy any new vehicles. Most likely, I’ll go for a used American made pre-BO.

  10. I wasn’t very clear about why I favored the Titan; my job/life pretty much demand a peek-up, and Nissan is the only remaining mfgr that has an extended-type cab with an eight-foot bed. (Crewcabs are like driving your mother’s four-door sedan, and I’m not that old yet.)

    What everyone seems to have missed while obsessing over the AGI bonuses, American Idol, etc. was that The Lightbringer is pretty much making a present of GM to the UAW.

    I predict the UAW will bleed the company white before we go through the bailout/bankruptcy drama again. Long before that though, GM products will be absolute crap.

  11. Donald Petersen ran Ford 85-89. He turned the commpany around in tandem with Douglas Fraser of the UAW. Sort of, “You clean your side of the shop and I’ll clean mine”. In 1990 Ford made a quarterly profit larger than the rest of the combined global automobile industry. After he left Ford went back to their lazy ways and spent the cash buying crap foreign carmakers instead of re-investing in domestic plants and infrstructure. Those of us selling Ford in that time made stupid money. We played liars poker with $100 bills. Point here is there are no leaders in the industry; just a pack of me too empty suits. The only thing stopping US automakers is the lack of will to make it happen on BOTH sides of the plants.

  12. Elm- Me too! and thanks, I try 🙂

    Crucis- I figured I’d better buy while I could!

    Fuzzy/ADM- Agreed

    Rick- Understood, and sadly I agree…

    WSF- Yeah, and I don’t see anybody stepping up to try to do that in ANY US manufacturer 🙁

  13. I’ve owned 5 Jeeps, and never will there be another one thanks to this. The next for us will be an F150, I think.