Obama gives the United Auto Workers 55% equity in the restructured Chrysler Corporation, and the UAW immediately announces that they will sell their share for cash to be used to fund their retirees' health care costs.
At the same time, Obama tells the original Chrysler creditors they are only getting 30% equity.
How much did the UAW invest in Chrysler? Answer: Not a single penny! They only took money from Chrysler for decades until they sucked the lifeblood out of the company and destroyed it.
This is nothing more than a political payback for all those campaign contributions from the UAW...
UAW TO CHRYSLER: IT WILL SELL 55% STOCK STAKE TO TRUST
By JOSH KOSMAN
May 5, 2009
Even the guys who build Chryslers don't believe in their employer's stock.
The United Auto Workers union said yesterday it has no plans to keep its 55 percent stake in the new Chrysler and looks to sell the shares into a trust that will fund retiree health-care costs, a union official said.
Noting that Chrysler's stock is now worthless, UAW President Ron Gettelfinger said the union is taking on a huge risk by using the Chrysler stock to fund the trust, which is known as a voluntary beneficiary association, or VEBA.
Gettelfinger noted the VEBA currently is "on life support," as it is starting out with $1.5 billion from an existing health-care trust and will get just $300 million from Chrysler next year.
The revelation comes as the Obama administration's efforts to push Chrysler through a fast-track bankruptcy may be decided today.
A US Bankruptcy Court judge is expected to rule on whether a small group of lenders unhappy with the Chrysler bankruptcy process will get a chance to have their objections heard. If they get the judge's nod, it could delay the court proceedings until their objections are ruled upon, thus all but ensuring that Chrysler misses its goal of resolving the bankruptcy before the Memorial Day weekend.
Chrysler maintains the only way for it to survive while it idles its plants is to move quickly through the bankruptcy court and sell itself to Fiat in time to launch its 2010 line.
However, the renegade creditors, which represent about 10 percent of the lenders, have first claim on Chrysler's assets, and should be getting more than the proposed 30 cents on the dollar.
The lenders are particularly upset that the restructuring plan on deck gives the UAW a 55 percent stake, even though legally the union ranks lower on the creditor scale than the dissident lenders.
In an exchange yesterday, Judge Arthur Gonzalez told Thomas Lauria, the lawyer representing the renegade creditors, that "If the sale doesn't go through, your value [and the value of the company] diminishes."
Tuesday, May 5, 2009
The Dangers of Political Correctness
In a word: censorship. This story is an example of where America is headed if we don't stop the liberal jihad that is destroying our freedoms. Who will be next? Rush Limbaugh? You?
Named and Shamed: The 16 Barred from UK
By Beverley Rouse
Press Association
May 5, 2009
Sixteen people banned from entering the UK were "named and shamed" by the Home Office today.
Home Secretary Jacqui Smith said she decided to make public the names of 16 people banned since October so others could better understand what sort of behaviour Britain was not prepared to tolerate.
The list includes hate preachers, anti-gay protesters and a far- right US talk show host.
"I think it's important that people understand the sorts of values and sorts of standards that we have here, the fact that it's a privilege to come and the sort of things that mean you won't be welcome in this country," Ms Smith told GMTV.
"Coming to this country is a privilege. If you can't live by the rules that we live by, the standards and the values that we live by, we should exclude you from this country and, what's more, now we will make public those people that we have excluded.
"We are publishing the names of 16 of those that we have excluded since October. We are telling people who they are and why it is we don't want them in this country."
She said the number of people excluded from Britain had risen from an average of two a month to five a month since October.
The list of the 16 "least wanted" includes radio talk show host Michael Savage, real name Michael Weiner.
"This is someone who has fallen into the category of fomenting hatred, of such extreme views and expressing them in such a way that it is actually likely to cause inter-community tension or even violence if that person were allowed into the country," Ms Smith told BBC Breakfast.
Also named are American Baptist pastor Fred Waldron Phelps Snr and his daughter Shirley Phelps-Roper, who have picketed the funerals of Aids victims and claimed the deaths of US soldiers are a punishment for US tolerance of homosexuality.
"If people have so clearly overstepped the mark in terms of the way not just that they are talking but the sort of attitudes that they are expressing to the extent that we think that this is likely to cause or have the potential to cause violence or inter-community tension in this country, then actually I think the right thing is not to let them into the country in the first place. Not to open the stable door then try to close it later," Ms Smith said.
"It's a privilege to come to this country. There are certain behaviours that mean you forfeit that privilege."
Hamas MP Yunis Al-Astal, Jewish extremist Mike Guzovsky, former Ku Klux Klan grand wizard Stephen Donald Black and neo-Nazi Erich Gliebe are also on the list released today.
Artur Ryno and Pavel Skachevsky, the former leaders of a violent Russian skinhead gang which committed 20 racially motivated murders, are also banned from coming to Britain. Both are currently in prison.
Making up the rest of the 16 named by the Home Office today are preachers Wadgy Abd El Hamied Mohamed Ghoneim, Abdullah Qadri Al Ahdal, Safwat Hijazi and Amir Siddique, Muslim activist Abdul Ali Musa (previously Clarence Reams), murderer and Hezbollah terrorist Samir Al Quntar and Kashmiri terror group leader Nasr Javed.
Named and Shamed: The 16 Barred from UK
By Beverley Rouse
Press Association
May 5, 2009
Sixteen people banned from entering the UK were "named and shamed" by the Home Office today.
Home Secretary Jacqui Smith said she decided to make public the names of 16 people banned since October so others could better understand what sort of behaviour Britain was not prepared to tolerate.
The list includes hate preachers, anti-gay protesters and a far- right US talk show host.
"I think it's important that people understand the sorts of values and sorts of standards that we have here, the fact that it's a privilege to come and the sort of things that mean you won't be welcome in this country," Ms Smith told GMTV.
"Coming to this country is a privilege. If you can't live by the rules that we live by, the standards and the values that we live by, we should exclude you from this country and, what's more, now we will make public those people that we have excluded.
"We are publishing the names of 16 of those that we have excluded since October. We are telling people who they are and why it is we don't want them in this country."
She said the number of people excluded from Britain had risen from an average of two a month to five a month since October.
The list of the 16 "least wanted" includes radio talk show host Michael Savage, real name Michael Weiner.
"This is someone who has fallen into the category of fomenting hatred, of such extreme views and expressing them in such a way that it is actually likely to cause inter-community tension or even violence if that person were allowed into the country," Ms Smith told BBC Breakfast.
Also named are American Baptist pastor Fred Waldron Phelps Snr and his daughter Shirley Phelps-Roper, who have picketed the funerals of Aids victims and claimed the deaths of US soldiers are a punishment for US tolerance of homosexuality.
"If people have so clearly overstepped the mark in terms of the way not just that they are talking but the sort of attitudes that they are expressing to the extent that we think that this is likely to cause or have the potential to cause violence or inter-community tension in this country, then actually I think the right thing is not to let them into the country in the first place. Not to open the stable door then try to close it later," Ms Smith said.
"It's a privilege to come to this country. There are certain behaviours that mean you forfeit that privilege."
Hamas MP Yunis Al-Astal, Jewish extremist Mike Guzovsky, former Ku Klux Klan grand wizard Stephen Donald Black and neo-Nazi Erich Gliebe are also on the list released today.
Artur Ryno and Pavel Skachevsky, the former leaders of a violent Russian skinhead gang which committed 20 racially motivated murders, are also banned from coming to Britain. Both are currently in prison.
Making up the rest of the 16 named by the Home Office today are preachers Wadgy Abd El Hamied Mohamed Ghoneim, Abdullah Qadri Al Ahdal, Safwat Hijazi and Amir Siddique, Muslim activist Abdul Ali Musa (previously Clarence Reams), murderer and Hezbollah terrorist Samir Al Quntar and Kashmiri terror group leader Nasr Javed.
Profound Contempt
Read the following story and watch the accompanying video to understand the contempt that this man has for you and your conservative beliefs. He mocked you.
He trivializes our concerns by isolating them as singular issues rather than addressing the entirety of his massive spending programs and redistributionist policies...
Obama Targets Tea Bags at Town Hall
By Alexander Burn
April 29, 2009
At his 100th-day town hall meeting in St. Louis Wednesday, President Barack Obama took direct aim at the anti-tax “tea party” demonstrations that have cropped up over the last month and took a veiled shot at the Fox News Channel, the cable news network closely associated with the protests. Asked about fiscal discipline and entitlements reform, Obama seemed to be repressing a smile as he jabbed critics of his spending plans.
"Those of you who are watching certain news channels on which I'm not very popular, and you see folks waving tea bags around, Obama said, “let me just remind them that I am happy to have a serious conversation about how we are going to cut our health care costs down over the long term, how we are going to stabilize Social Security.”
“But,” Obama continued, “let's not play games and pretend that the reason for the deficit is because of the Recovery Act."
It’s the president’s most direct response so far to the protests that flared up in some locations around tax day, on April 15. In his briefing that day, White House Press Secretary Robert Gibbs told reporters: “I don't know if there's a specific response to protests..I think you saw the president today talk about as candidate Obama promising to bring a tax cut to 95 percent of working families in America, and as president delivering that tax cut.”
Click here to watch video: http://www.politico.com/news/stories/0409/21870.html
He trivializes our concerns by isolating them as singular issues rather than addressing the entirety of his massive spending programs and redistributionist policies...
Obama Targets Tea Bags at Town Hall
By Alexander Burn
April 29, 2009
At his 100th-day town hall meeting in St. Louis Wednesday, President Barack Obama took direct aim at the anti-tax “tea party” demonstrations that have cropped up over the last month and took a veiled shot at the Fox News Channel, the cable news network closely associated with the protests. Asked about fiscal discipline and entitlements reform, Obama seemed to be repressing a smile as he jabbed critics of his spending plans.
"Those of you who are watching certain news channels on which I'm not very popular, and you see folks waving tea bags around, Obama said, “let me just remind them that I am happy to have a serious conversation about how we are going to cut our health care costs down over the long term, how we are going to stabilize Social Security.”
“But,” Obama continued, “let's not play games and pretend that the reason for the deficit is because of the Recovery Act."
It’s the president’s most direct response so far to the protests that flared up in some locations around tax day, on April 15. In his briefing that day, White House Press Secretary Robert Gibbs told reporters: “I don't know if there's a specific response to protests..I think you saw the president today talk about as candidate Obama promising to bring a tax cut to 95 percent of working families in America, and as president delivering that tax cut.”
Click here to watch video: http://www.politico.com/news/stories/0409/21870.html
Monday, May 4, 2009
Forgotten About This?
In his own words, spoken on July 2, 2008...
"We cannot continue to rely only on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded." - Candidate Barack Obama
http://www.youtube.com/watch?v=Tt2yGzHfy7s
If he is allowed to have his way, he will have a civilian national security force whose primary purpose will be to protect him as he turns America into a third world dictatorship.
"We cannot continue to rely only on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded." - Candidate Barack Obama
http://www.youtube.com/watch?v=Tt2yGzHfy7s
If he is allowed to have his way, he will have a civilian national security force whose primary purpose will be to protect him as he turns America into a third world dictatorship.
Jack Murtha's Personal Airport
Only three flights a day, and they all go to Washington, DC.
And it's all paid for by you...
Saturday, May 2, 2009
Liberal Double Standard
Proving that she is a "woman of the people", Michelle Obama showed up at the Washington DC Food Bank last week, wearing sneakers, and ready to give food to the needy.Of course, they weren't just any pair of sneakers...they were $540 Lanvin designer sneakers.
I'm sure it impressed the hell out of those who were there to receive food to feed their hungry children....
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