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As you all know Simple Man Politics was supposed to be on a hiatus of sorts for two or three weeks in order to get some other business taken care of, but I just couldn’t resist writing about today’s topic. Today’s topic is about Ginsberg, the Supreme Court, and Obamas bankruptcy plan for Chrysler including its purchase by Fiat.
It appears that liberal SCOTUS (Supreme Court of the United States) justice Ruth Bader Ginsberg is not on board with the Obama administrations game plan to reward the UAW (United Auto Workers Union) with 60% of Chrysler, while giving the American tax payer about 30% of Chrysler, and the secure lenders less than 20% of Chrysler.
The result of this bankruptcy deal would have given virtually all of the UAW its losses back. The American tax payers would have gotten about 60 to 70% of their money back, and the lenders would have gotten about 15% of their investment capitol back. This plan of Obamas is surely a payoff to the union and a grand screwing for the investors and the American tax payers who should be paid off above and before the union.
Apparently the three judge panel for the federal district that Ginsberg represents kicked it up to her for review refusing to make a decision on the bankruptcy deal forcing Ginsberg to take the lead in deciding the outcome of this sham of a bankruptcy At that point Ginsberg got the whole Supreme Court involved in the issue, which further threw a monkey wrench into the Obama bankruptcy deal.
It looks like the constitutionality of this bankruptcy mess is now going to be decided by the SCOTUS and hopefully the constitution will be upheld. This is obviously not very good for the Obama administration or the UAW who stand to financially gain an enormous amount of money for their support for Barack Obama in the 08 Presidential election. According to lawyers who practice constitutional law this bankruptcy is in fact unconstitutional and here is why.
In a normal bankruptcy case Chrysler would have been allowed to continue its operations while going through its restructuring process. Auto dealers would have been allowed to remain in business serving their communities in both sales and services, the secured lenders and bondholders would have been first in line to re-coupe their losses, and Last but not least all labor contracts with the UAW would have been null and void.
Unfortunately Obama in his infinite wisdom thought he should circumvent the constitution and do things the way he wanted to. As a result of his actions to force the Chrysler bankruptcy and Chrysler/Fiat deal through it found its way to a federal appeals court and then to the SCOTUS. Apparently 150+ years of bankruptcy law precedent and the US constitution still hold water even in light of the Obama administrations obvious contempt for them.
The decision that the SCOTUS makes on the Chrysler plan may ultimately affect the Bankruptcy deal that is currently in place for General Motors as well. The resulting decision may do great damage to the UAW, which personally doesn’t offend me one little bit. The decision could also result in both the tax payers and the lenders getting the bulk of their investments back, which I consider to be fair. The SCOTUS may also put an end to the Obama administrations plans on wealth distribution on a large scale, which I ma also in favor of.
Well that’s it for today folks and I am glad I was able to talk to all of you once again. I will be back again soon I hope so have a terrific day CIAO4NOW!!!!!
There are a lot of subjects that I can close out the week with like Obama cutting 17 billion dollars out of his budget by going line by line, which aint much less than 1%. Or I could talk about Obama giving the UAW (United Auto Workers Union) The Chrysler Company, which is no big surprise. Or I can talk some more about the closing of Gitmo, which is exactly what I am going to do.
If my timing is still right President Obama only has about 7 months left out of the 12 months he designated at the start of his administration to close down the Guantanamo Bay Detention Facility and relocate 241 of the worlds most rabid terrorist animals. As of this post there has still been no executive decision as to where this scum will be going either.
In February of this year congressman John Shadegg introduced a bill (H.R. 1238) known as the “Keep Terrorists out of America Act”. The bill has the support of the house Republican leadership and it would keep all of the Gitmo detainees from ever stepping foot on US soil. I think the senate Republican leadership should get behind this bill to and pass it in its original language. Many states are looking at passing legislation that would bar this scum from coming to their states also.
Now I personally think that we should send them back to the countries that they came from thereby placing the burden of their presence on the nations that have spawned them. Unfortunately for them that would be a death sentence for the majority of these radical Islamists, which sounds good to me. There appears to be a few countries that would be willing to take the detainees but most of these nations have a strong Islamic radical presence and they would probably go right back to the battlefield once inside one of these nations.
As a result of all of this though I believe that ultimately the Obama administration and his personality cult in both houses of congress, are going to attempt to strong arm states into taking detainees inside their borders, which tramples these states constitutional rights to govern their own residents within their own borders. Of course we all know by now that Obama and company don’t care about anyone’s rights, because they only care about their power to force the American people into submitting to their wills.
Like I said originally I think we should send them all back to where they came from. However if that is not an option we should bring them all here turn them loose up in the Big Empty of Montana and have ourselves a terrorist hunting season that does not end until all 241 of these creatures are hunted down, killed, stuffed, and mounted by any tax payer that blows their brains out. I don’t know about anyone else but it sounds not only like a good idea but fun to.
That is all I have to rant about for today my friends, but I will be back next week with more Simple Man Politics just for you. I hope you all have a fantastic Friday and a fun filled weekend, CIAO4NOW!!!!!
Well so much for negotiations with the UAW. It appears that they won’t revisit the subject of labor wages again. Senator Bob Corker told the union that the bailout would pass if they agreed to bring labor costs into line with those of foreign auto makers based here in the US. The failure of the UAW to agree to set a date to lower wages is one of the reasons that derailed the bill yesterday.
It appears that UAW chief Ron Gettelfinger will not even consider re-entering those conversations because he believes that the White House will dig into the 700 billion dollar T.A.R.P. fund to bail out the Big Three. Another thing that helped to stall the bill in the Senate was the unwillingness of the UAW to make or discuss concessions about labor retirement packages. Although the UAW did concede that the job bank would have to go.
The only thing I have to left to say on this subject today is “way to go President Bush”. It now appears that our fearless leader and member of the Republican Party. He is now no different than the tax and spend liberals who will be running two of the three branches of government in January. The only difference being is that while he is spending like crazy he isn’t taxing like crazy. But why should he worry about creating a bigger deficit he’s just going to dump it on Obama anyway.
I will see you all next week, and I hope you all have an awesome weekend, CIAO4NOW!!!!!
P.S. Please don’t forget to vote in my poll on the left side of this page.
Well would you believe that the Senate Republicans finally found their backbone when it came to a bail out? It is too bad that they couldn’t have had a backbone when it came to bailing out the mortgage industry but it is still a start.
The auto industry bailout bill was stalled in the senate today by Senator Mitch McConnell and other Republicans. The GOP is seeking sweeping UAW concessions up front to the Big Three before they would support any bill to bail out the auto industry.
Yesterday the White House sent one of their own people down to the capitol in an attempt to persuade the Senate Republicans to come on board with the White House. Apparently the minority party in the Senate led by Mitch McConnell gave the poor guy an earful. Richard Shelby of Alabama who is another very vocal opponent of the bail out was also in the meeting.
The truth is, is that the Republicans in the Senate do not want the Big Three to fail. However they do not want to throw good money into an enterprise that is doomed to fail. As long as the Big Three continue to have to pay the exorbitant costs of labor that the UAW demands, things in Detroit will not get any better.
Like these Senators who have stalled the bill and demanded UAW concessions I am all for the American working man getting paid a decent wage, paying his bills, and giving his family a decent life. I just don’t think that the UAW is any longer a viable entity. Like all dinosaurs it should fall into extinction and disappear.
Many of the foreign auto makers who have taken up residence in the southern states where there are right to work laws have been very profitable. A large part of their success is due to the fact that they don’t have to deal with things like the UAW. Their workers make decent wages, enjoy benefits, and help to keep the economies in those towns lucky enough to have one of their facilities in the black.
That’s it for today my friends, I am sorry this post is late. I hope you all have a fantastic evening, CIAO4NOW!!!!!
P.S. Don't forget to vote in the poll to the left of the page. Sunday is the last day before the poll closes.
Hello my friends and welcome to the TGIF post. A quick note before I get on with today’s topic. It would appear that the Minnesota Senate Race between Republican Norm Coleman and Numb Nuts Deluxe Al Franken may not be decided by the end of the day today. It seems that December 16th 2008 is the magic date, now for today’s topic.
The big three automakers CEO’s were in DC today with their hands out looking for the taxpayer to bail them out. Instead of flying in their corporate jets they all caravanned into DC in the hybrid cars that their companies manufacture, and looking a little more humble than they did the last time. Along with their new found sense of self they also raised the amount they are seeking another nine billion dollars collectively, from twenty five billion dollars, to thirty four billion dollars.
To say the least it is important for something to be done to help get these companies back on their feet and producing automobiles. Cars like the Chevy Malibu and the Ford Focus compete very well against foreign auto makers who build here. They get better gas mileage and are considered safer to drive. Even some of the full size SUV’s and pickup trucks get mileage comparable or better than some of the top import sedans such as the Toyota Camry.
The problem that the big three has is not with manufacturing quality auto’s that perform well, their problem is with labor and vendor costs. These problems exist because of the way they have been doing business for decades. Paying out crazy money for materials for the autos they build, as well as for every day things needed to run the companies. It reminds me of the five hundred dollar hammers and thousand dollar toilet seats the military was getting, that our senate and congress were paying for just a few years ago.
It doesn’t help them any when the UAW (United Auto Workers) has a virtual stranglehold on them and squeezes them till it hurts. UAW President Ron Gettlefinger is all for the bailout of course, because that means that the union won’t face real renegotiations with the Big Three like they would under a chapter 11 bankruptcy. Ron figures why not let the taxpayer foot the bill.
To be honest the Big Three and the UAW have agreed to look at making some concessions in negotiations for new labor contracts, but I don’t think the unions will just give up everything without a fight. However they both agreed that they could do away with the job bank. The job bank is a place where laid off UAW workers still draw ninety percent of their wages while not working. I still can’t believe that any corporation would agree to an arrangement like that.
Now I personally believe that we should not bail out the Big Three automakers. I believe that they should be required to file for chapter 11 bankruptcy, restructure, and force the unions into negotiations that give them what they need to keep the union workers employed. As you all know I wasn’t for bailing any companies out in the financial markets either. In my opinion in business the strong survive and the weak get gobbled up. That’s the way it should be in a free market economy, instead of the Government subsidizing them and becomes the majority stockholder and partner.
Well my friends that is all I have for you today. I hope you all have an awesome weekend, TGIF, CIAO4NOW!!!!!
P.S. One more thought. If we are upset because the Big Three executives used private jets their first time going to DC because they are broke, then why are we the taxpayer still paying for House Speaker Nancy Pelosi’s plane when we the taxpayer’s are going broke?
Hi all I am sorry this one is a little late today, but when you are building your own computer there is much to do to get it ready, and it still isn’t ready. Anyway it looks like one more from the back up machine.
Today I am going to talk a little more about the proposed bailout of the big three auto makers in that winter wonderland known as Detroit. This has definitely been a very hot topic of conversation over the weekend. With everybody from Rush Limbaugh, Sean Hannity, and Republicans on one side of the issue to fair and balanced Fox News in the middle, and Nancy Pelosi, and Barney Frank salivating over the idea on the other side of the issue I have heard a lot of different opinions.
It seems we are in the holiday mood when it comes to bailing out failing business, whether it be lending institutions or credit card companies so why not the auto industry as well. I will tell you why we shouldn’t bail out the auto industry and it won’t make me sound like a nice person. I am going to tell you why they want us to bail them out first though.
The big three believe that the taxpayers should bail them out because of projected job losses if they go out of business or into bankruptcy. Because of this they say they are a special case so they deserve a bailout. They say that if they go out of business then there will be a loss of at least 400,000 jobs and up to 3,000,000 jobs lost total including business that survive because of them, such as supplying parts, repair, or materials for manufacturing. They also say if that were to happen unemployment could reach double digits. I must admit if that were to happen it would be very devastating economically.
Here is why I don’t think we should bail them out though. One of the reasons is because every time someone buys an automobile from them the first $1600.00 goes to pay employee wages and retirement for an employee, and they pay this for every employee they have.
Another reason is that UAW President Ron Gettelfinger has said that union workers will make no more concessions to the auto industry no matte what. What these people make both laborers and the unions are a major drain on the big three.
Yet another reason I think we shouldn’t bail them out is card scan legislation giving unions control with a 51% majority of support cards signed and no secret ballot by workers to vote for against unionization. This is a gift from Democrats who have enjoyed union support in their election campaigns.
There is such a thing as chapter 11 bankruptcy. What this would do either force the unions, venders and others who are doing business to renegotiate their deals with the big three or allow them to start firing employees if there is no cooperation. The big three do not have to go out of business. They can fix there own problems very easily. With any luck they might even be able to get rid of the unions as they are obviously a major drain on capitol. None of the foreign auto makers who manufacture here have even discussed needing financial help from the government and their sales are down also.
That is all I have to say for today. I have told you both sides of the issue, but it is up to you to decide where you stand on it. Whether you support the bailout of the big three or not we all know its going to cost someone a bunch of money. Better them than us I say. Have a great day CIAO4NOW!!!!!
