Kill the Messenger - this time the LA Times

[Urbane Guerrilla]

I believe in being fair to Republicans. You don't. I think that's known as bigotry, tw. Not a mental problem with me, but it keeps your mind in some pretty unsavory ruts.

I buy German autos, and voted twice for Bush. That's because I'm brighter than you, you know, and I never tire of reminding you of that. The Democratic Party is once again demonstrating they have no more ability to win the war than you do. Crankery is bad for your brain, laddie, but you aren't capable of understanding that.

[tw]

It has been another bad week for General Motors. Their bond rating has dropped two more notches to Grade B. One notch above a worst possible rating - Grade C. Bond analysts are being generous to GM. General Motor's product line under the MBA Rick Wagoner has become that worse. Their engines alone are some of world's worst.

Other automakers, since the 1970s, design new engines with overhead cams. GM will debut two new engines next year - both using 1950 technology push rod designs - not overhead cams. No problem. If George Jr can get a 47% approval rating by being incompetent, then enough stupid Americans will also buy this - what we already know will be - GM crap. Industry analysts who have seen what are coming have already panning those crappy products. So bad that those new products should be aborted in the foundry.

Wagoner would not know. Where is his driver's license?

Kirk Kerkorian had declared intentions to become a major GM stockholder as he was when Chrysler made a comeback. Kerkorian bought a maximum number of shares - 9.9%. Quietly last week, Kerkorian sold some 12 million of his 56 million shares. Obviously for major losses. But that suggests Kerkorian is coming to a same conclusion that both Carl Ichan and Warren Buffet had long ago concluded. GM will remain that poor an investment. Their bad management is that deeply entrenched.

While listening to Rush Limbaugh's show last week, who was a guest right after coming out of the White House? Rick Wagoner. That caught my attention. Why is Wagoner visiting the White House? Do you remember the $8+billlion that a mental midget president gave to the airlines with no strings attached? He did so and Americans said something equivalent of, "We don't care how many die in New Orleans." Airlines then burned through that money in months and went begging to George for more. A complete gift so that badly run airlines would protect their only problem - their MBA management.

So who is on George Jr's gift list this year? Let's see. A $450,000 campaign contribution from First Energy permitted them to keep running a nuclear reactor with its potential Three Mile Island problem. Happy Holiday. Citizens of Toledo don't matter when there is money to scoff. Will George Jr now gift Rick Wagoner so that stockholders don't rise up against Wagoner - an MBA with George Jr's competence? Well, Wagoner made same type of lame arguments on Limbaugh's show that George Jr also used to justify unauthorized wire tapping. With some basic newspaper reading, one should have seen right through his lies.

Somehow, Wagoner forgets to mention the pension funds and health benefit that were underfunded many years ago so that GM's 'profit and loss' sheets looked better. IOW the real losses should show more than $5billion hole that now exists. GM should make up those missing funds - with interest. So Wagoner claims those 'unfair' pension funds and health benefits cause GM's downturn. Bull. Those accounts should have been funded when employees were still working. Rick Wagoner and his predecessor used that money to cover up massive losses years ago. Rick Wagoner hopes you don't remember that missing fact when he blames others.

So yes. A visit to Rush Limbaugh - to talk to radio listeners who do not think. Who blindly believe what they are told. Who forget to ask why those pensions funds were so underfunded years ago. (Let’s not forget that George Jr can have a government Pension Guarantee Trust Fund pick up the tab for those pension funds - more corporate welfare.) After all if Rick Wagoner visited George Jr, then Rick Wagoner must be a good guy - to Rush Limbaugh listeners? Only if you believe in astrology, spontaneous regeneration, intelligent design, and that George Jr never lies.

GM in one month has become worse. Bet that your government will give GM free money - this time fund the underfunded GM pension fund. Only thing that will save GM is bankruptcy - so that American workers don't lose their jobs. Bankruptcy so that Rick Wagoner is removed. But George Jr will always protect rich people at the expense of workers. And then lie - claim he saved American jobs. George Jr will save the only job that provides rich campaign contributions - Rick Wagoner.

Will Toyota become the world's #1 automaker next year? Toyota announced next year's sales will increase another 10%. Toyota permits car guys - not bean counters - to design their products. Wagoner probably hopes to add Rush Limbaugh listeners as customers - so that he can continue getting rich as American workers (current and future) lose more jobs and their pensions.

[Elspode]

Originally Posted by tw

But George Jr will always protect rich people at the expense of workers.

Well, duh. Isn't this some sort of Republican platform plank or something? For Republicans, everything starts with the business. The people who make up the workforce are simply pieces in the machine. Why do you think they call it "Human Resources"? People are just another tool to be managed, exactly the same as an inventory of spare parts or hard drives, man.

Labor costs money, it does not produce money. Or so goes the Republican financial theory. That's why jobs are being sent where people will do them for the least possible amount of money.

Don't think for a moment that people like Bush look at people like us as anything other than cattle, just as disposable, and just as subservient.

Disclaimer: The Democrats are no better.

[tw]

From MarketWatch.com on 21 Dec 2005:

Kerkorian's GM sale raises questions
The last time General Motors Corp. shares traded around these levels, Ronald Reagan was busy waging his war on drugs, Pac-Man was all the rage, and Michael Jackson's Thriller was flying off the shelves. ...

More than two decades later, Kerkorian is swimming in red ink with his investment in Detroit-based GM, shares of which fell as low as $18.99 on Wednesday. Estimates put his losses at more than half a billion dollars. ...

This could be the first step in Kerkorian's eventual exodus from GM, according to Peter Morici, professor at the Robert H. Smith School of Business at University of Maryland.

"I wouldn't be surprised if he looks for a different situation where people are more receptive to change than General Motors," he said.

While to some the move comes as a sign of Kerkorian's weariness in holding tight to his evaporating stock value, others on Wall Street are hesitant to draw too many conclusions.

Today, GM's stock dropped another 2.15%.

[busterb]

Michael Jackson's Thriller was flying off the shelves. ...
Some how I'm glad I missed that one.

[tw]

Originally Posted by Urbane Guerrilla

I believe in being fair to Republicans.

So do I. Notice how I never once mentioned what a crook Tom DeLay really is? Not that I expect Urbane Guerilla to be honest and mention it. That would be too honest and too much against his political agenda.

[Urbane Guerrilla]

Originally Posted by tw

So do I.

Not on the evidence, dear boy, not on the evidence. Threads with numerous posts by you that do not include less-than-justifiable railing at Republicans by you are more the exception than the rule.

[richlevy]

Originally Posted by Urbane Guerrilla

Not on the evidence, dear boy, not on the evidence. Threads with numerous posts by you that do not include less-than-justifiable railing at Republicans by you are more the exception than the rule.

You should qualify that by stating that TW is railing at the current crop of Republicans and not Republicans in general.

Even Warren Buffet and John Bogle, two incredibly smart men, have issues with the 'business at all cost' attitude of this adminstration.

I think pro-Communist leftists are wrong. I also think 'pure Capitalism' rightists are also wrong. Governments which let large amounts of their citizens starve don't last long, and there are inefficiencies in a purely caplitalistic system that can lead to systemic failure, especially when we move into a form of state-sponsored Capitalism where businesses are considered 'too large to fail' and are propped up using public funds.

Even the Bush adminstration has begun to concede this by finally taking action on pension funding to prevent a crisis that may become more expensive than the S&L bailout.

I do not think, for example, that the idea that it was overpaid workers who sunk GM is not being bought by the public. Anyone who has been in the market for cars, which includes a large segment of the population, realizes that the issue is that GM has failed to make cars that people want to buy. Noone believes that these kind of decisions are made by anyone other than 'top management', as TW correctly states.

Bogle and Buffet both seem disenchanted about the way this administration has approached regulating business as well as keeping the public finances. They know bad management when they see it.

I, as a Democrat for example, can criticize the Democratic party for failing to address racism and segregation until after 1960 without being anti-Democrat, since I am referring to distinct times within history. Currently, Republicans control two of the three branches of government. They are essentially responsible for every bad decision made by the goverment since they took control of Congress and the White House, which covers a lot of territory.

[Urbane Guerrilla]

Originally Posted by richlevy

You should qualify that by stating that TW is railing at the current crop of Republicans and not Republicans in general.

A distinction, perhaps, but a mighty small difference, especially in that both he and they exist in this moment. Consider that his sole approach to Republicans is intemperate. You won't catch me making that mistake.

I, as a Democrat for example, can criticize the Democratic party for failing to address racism and segregation until after 1960 without being anti-Democrat, since I am referring to distinct times within history. Currently, Republicans control two of the three branches of government. They are essentially responsible for every bad decision made by the goverment since they took control of Congress and the White House, which covers a lot of territory.

To be fair, they are likewise and to the same degree responsible for the good decisions made by the government, which also covers a lot of territory. Breaking totalitarianism is good for all mankind, by definition. Totalitarian organization models have their uses, primarily in the organization remaining functional under extremely difficult conditions and if damaged, but when the totalitarian model is applied to entire societies, the resulting regimes exist only to oppress. Oppression is simply bad.

Partisan enthusiasm for the respective philosophies of either the Democrat or Republican parties very much does not define which is actually good and actually bad. What it does define is which one you're sold on.

[richlevy]

Originally Posted by Urbane Guerrilla

A distinction, perhaps, but a mighty small difference, especially in that both he and they exist in this moment. Consider that his sole approach to Republicans is intemperate. You won't catch me making that mistake.

No, you are quite temperate in your approach to Republicans. Your comments on Democrats, however......

Originally Posted by Urbane Guerrilla

Partisan enthusiasm for the respective philosophies of either the Democrat or Republican parties very much does not define which is actually good and actually bad. What it does define is which one you're sold on.

Again, we are not talking respective philosophies, we are talking execution. Until recently, the Republicans in Congress have voted as a block in rubber-stamping policies the President has wanted. Some of these policies are overtly pro-business at the expense of a majority of citizens.

What has begun to disturb moderates of both parties is the total fiscal breakdown associated with forcing tax cuts while denying the true costs of the war in Iraq as well as anti-terrorism spending.

Having any real criticism of this direction painted by partisan hacks as un-patriotic does not help to foster bipartisanship.