Give taxpayers their GM
Today is a sad one for America. A hundred-year-old company that once dominated the world’s automobile industries is in the arms of government, perhaps never to emerge as an independent company. The company said in bankruptcy filings in New York that it has debt of $172.81 billion, and less than half that, $82.29 billion, in assets.
Former Republican presidential candidate Mitt Romney, speaking on “Fox News Sunday” said the Obama Administration should immediately distribute to taxpayers the 72.5 percent of General Motors that taxpayers will own. He thinks the 17.5 percent that the union will own should go to United Auto Workers members. ”We don’t want a president and the head of the UAW running General Motors,” said Romney
Among the other lasting consequences of the government ownership of GM is one noted Sunday in the New York Times by James K. Glassman, under secretary of state for public diplomacy and public affairs in the George W. Bush administration. He’s now president of World Growth, a nonprofit economic-development organization. ”There is no escaping the long-term damage that has been inflicted on credit markets by the Obama administration’s attempts to reward the United Auto Workers, one of the president’s strongest supporters in the last election, while trampling decades of legal precedent regarding owners of corporate debt,” writes Glassman.
The administration’s efforts to force bad deals on bond-holders, while favoring the UAW, “may damage the credit markets for years to come,” he writes. “The treatment of the bondholders is a warning to investors that the federal government won’t hesitate to push them aside in a crisis.” He continues:
“Perhaps it’s no coincidence that in the wake of the Chrysler deal we have seen a decline in prices for long-term Treasury bonds and a sinking dollar. The Chinese, for example, could view things this way: If the United States is willing to skirt the law to help some of the president’s closest political supporters gain large pieces of two of the world’s biggest companies, will Washington necessarily stand behind any Treasury securities we own when it becomes politically inexpedient?”
For potential investors, Glassman makes a valid point. Government has demonstrated that it will treat them as the “greedy rich” in transferring their wealth to favored constituencies. As a potential investor, foreign or domestic, I’d want yields sufficiently high to cover the risk that government, outside of bankruptcy court, could rewrite contracts in accordance with some unexamined agenda.
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79 comments Add your comment
Faux News
June 1st, 2009
8:53 am
The five enforcement officials caught a morning Acela train bound for Washington. Based at the New York office of the Securities and Exchange Commission, the team was seeking agency approval to impose tens of millions of dollars in fines on a drug company, Biovail, which had allegedly used the crash of a truck hauling depression medicine to cover up financial losses.
But when the group arrived at SEC headquarters on that winter day early last year, it was barred from the room where the commission was meeting, according to a person familiar with the case. Chairman Christopher Cox and his colleagues reviewed the case inside. When the doors opened, the enforcement officials learned the commission had knocked down the penalty to a small fraction of what they had sought.
The outcome, though discouraging to the team, was not a complete surprise, sources said. After Cox became SEC chairman in mid-2005, he adopted practices that undermined the enforcement division’s efforts to investigate cases of corporate wrongdoing and punish those involved, according to interviews with 19 current and former SEC officials.
During Cox’s tenure, investigators who wanted to subpoena documents or compel interviews faced an increasingly cumbersome process to win the commission’s approval for each case, according to current and former agency officials.
Cox also required enforcement officials to see the commissioners before approaching a company about a civil settlement. In several high-profile cases, when SEC lawyers were ready to ask the commission to authorize lawsuits or approve settlements, Cox postponed the decisions at the last minute, leaving cases unresolved for months, the sources said. At times, as in the Biovail case, the commission eventually weakened the sanctions sought by the enforcement division.
Copyleft
June 1st, 2009
8:56 am
It’s a shame that the incompetence and corruption of GM’s management was beyond even the government’s ability to save them. This will do some serious damage to the economy, not to mention the workers and communities who’ve been affected by this latest set of looter-management screwups.
In the auto industry, it will be harder for “small, local startups” to step in and fill the gaps, which makes this even more difficult to recover from.
Perhaps we never should have let a “Big Three” form in the first place if their collapse would do so much damage… there could be a lesson in there in how to best regulate other industries. We don’t need anyone else to be “too big to fail.”
Turd Fergusen
June 1st, 2009
9:10 am
AHH HAHAHAAA…finally our day of freedom has arrived. These bums, crooks and theives have been robbing, extorting from the American people for years and now they received their comeuppance!!
YEA BABY!!
GM has thrusted nothing but trash and garbage on the US for the last 30 years and today they, the unions, employees etc receive their just reward.
TO BAD
So sad
*POOT*
Redneck Convert
June 1st, 2009
9:16 am
Well, it’s just a crime they let the union thugs off with a big chunk of GM but made the bondholders take pennies on the dollar. Those poor people will probly have to settle for small yachts and maybe lunches at a greasy diner instead of some of the real good places in NYC. It just goes to show this Obama don’t have no respeck for big money and people that had the gumption to make a big wad.
But I’ll just pass on taking my share of GM. GM don’t make the Ford F-450 pickup so I don’t care if it goes bust and out of business. Anyhow, I’m with the guy that wants a whole bunch of real small car cos. We could bring back Kaiser and DeSoto and all the other cos. that got crowded out by the big three. I still think Studebaker got a raw deal. It was a good car. Just butt-ugly. If everybody went for looks a whole lot of women on this blog would die as old maids.
Have a good day everybody.
Normal
June 1st, 2009
9:27 am
Today is a sad one for America. A hundred-year-old company that once dominated the world’s automobile industries is in the arms of government, perhaps never to emerge as an independent company. The company said in bankruptcy filings in New York that it has debt of $172.81 billion, and less than half that, $82.29 billion, in assets.
Jim, what you said there is a fine example of what is happening to
our country. Success breeds greed, greed breeds apathy and apathy
kills nations. GM like our America, is just following the example
of the Roman Empire. Substitute USA for GM and the USA’s debt for
theirs and you get the idea. Our country is just over 200 hundred
years old, and we are way past our heyday. We are the new Roman Empire, and we are falling fast.
Got “Know your history, or be doomed to repeat
it”, anyone?
clyde
June 1st, 2009
9:44 am
What GM was doing obviously didn’t work so another way is being tried.
Good thing you and I are handsome dudes,ain’t it ,Redneck?
Howard
June 1st, 2009
9:53 am
Jim…I hope the “hope and change” crowd are happy with this bunch of idiots and empty suited liberal fascists they have put in office. Barack Obama owns all this trouble…the blame Bush mantra has played out, in spite of the lies from Obama and the puff coverage from the driveby media. We haven’t bought an American made car in years and years…because they have been pieces of junk in less than 5 years out of the showroom. If I did buy USA, I think I speak for many in saying “Buy Ford!” I wouldn’t buy a motor scooter made by any company owned by Obama and the UAW!!! Ford fought this same battle during the early years of WW II and the libs’ god, FDR, and they resisted then any attempts by FDR and libs in telling them what to make and allowing the government inside their companies. That’s why FDR cut Ford out of WW II aircraft contracts and why Ford went out and contacted Consolidated…so they made B-24s at Ford.
To quote one of Obama’s closest advisors and a man that had his and Michelle’s rapt attention, the Reverend Wright…”America’s chickens are coming home to roost…courtesy of the 50% of this country that went brain dead in 2006 and 2008 and put the Democrats and this GQ dictator in charge of this nation!!!
@@
June 1st, 2009
9:54 am
I’m not inclined to “post bond” for habitual offenders. America’s automakers, for decades, have allowed themselves to be burdened with union extortionists leaving them no choice but to commit armed robbery. The government is guilty of both.
I’ll be looking elsewhere for a good return.
SOMALIDAWG
June 1st, 2009
9:57 am
باید در برابر یکدیگر با روح برادری
REDNECK همهٔ افراد بشر آزاد به دنیا میآیند و از دید حیثیت ZELL MILLER?
Billy Bob
June 1st, 2009
10:04 am
Success breeds greed, greed breeds apathy and apathy kills nations
Huh? What the heck does that statement mean: I should be unmotivated even lazy and then I’ll achieve the right kind of “success” and the country will prosper? Classic uneducated liberal logic.
Entrepeneurs are ambitious, self-reliant, self-starters, risk-takers and hard WORKERS (not just 9-5′ers) who make great personal sacrifices to make things happen for their families. EVERBODY in this country has the ability to be one of these types – but not all want to be or are meant to be. These, then, are your “greedy” types, NORMAL, although I would want them over you and your ilk if I were starting a country.
The alternative to these entrepreneurs is a community that relies heavily on others, mostly government, to do for them and then trots this behavior out as noble – bull-sheiser. Ultimately this society is parasitic living on the achievement of others (taxation) and such a community collapses due to laziness, apathy, and an unwillingness to sacrifice personally to better the whole.
I think I’ll take those ambitious entrepeneurs.
Turd Furgeson
June 1st, 2009
10:04 am
One of the most humorous parts of this entire story is that the majority of those affected are the Dems who voted for Junior Jesus ie Obama. They’ve lost their jobs or had a downgrade in pay/benefits/pensions/stock values etc.
Ya wanted change…well ya got it!
booger
June 1st, 2009
10:10 am
Copyleft
GM was not too big to fail. Our government deemed it too big to fail and used this as an excuse to pour billions of tax payer dollars into this sinking ship.
GM should have been allowed to go through the normal bankruptcy procedure and should have been reorganized by the Judicial branch rather than the executive branch. By prempting the mormal process Obama was able to reward the unions and penalize the bondholders thus assuring his voting base.
Just heard that based on the projected headcount of the reorganized company, taxpayers will spend $300,000 per remaining job to secure these votes.
Meanwhile bondholders, who held secured debt, are screwed to the wall. I’m sure as soon as Obama finds out that corporate bonds are one of the favored investments of union pension plans, including the powerful teachers unions, futher bailouts will be coming.
Mac
June 1st, 2009
10:14 am
Kyle “Right” Wingfield trips when he makes the leap that Judge Sotomayor’s “Latina woman” remark “suggests that she thinks in ethnic terms first.” I suggest he does not have enough information to make that claim.
That said, he makes valid points about Obama being far less of a change agent than he promised. One of the most disappointing areas for me is in transparency. Where is all the openess he promised? It was the easiest campaign promise to fulfill and he has not done it. Unlike Rush Limpballs and his acolytes, this is one conservative who does not want to see a president fail in an environment like this. But, I grow more skeptical by the day.
CommunistAJC
June 1st, 2009
10:36 am
It’s such a shame that Democrats in Michigan and the UAW had to kill the auto industry.
NEXT UP: Government Health Care.
Bottom line: CHAINS WE CAN BELIEVE IN IS KILLING AMERICA!
CommunistAJC
June 1st, 2009
10:37 am
I WANT MY MONEY BACK THAT OBAMA HUSSEIN GAVE TO GM.
Get Real
June 1st, 2009
10:43 am
Wooten, GM built tanks and trucks during WWII. I mean seriously, the nation that invented the automobile without an automobile industry. I can read your blog now on how Obama let an American institution go under, and now you can only buy Toyotas and Hyundais. Yeah this is change, hopefully now the green revolution can really begin. Get me a Denali that can get 35 mpgs and I’m all in. No matter what happened, you and these other crazy hoots would have something negative to say. Do I like that fact that I own a piece of GM? No. But if this TEMPORARY measure will keep a pillar of american industry alive, and keep millions of people from losing their jobs to boot, then I’m all in.
Big Bucks GOP doing the Lords work
June 1st, 2009
10:45 am
General Motors filed for bankruptcy protection in federal court in
Manhattan on Monday, a humbling fate for the longtime titan of American
industry.
G.M. said in its filing, which includes the carmaker’s Saturn unit,
that it had $82.3 billion in assets and $172.8 billion in debts,
including $26.3 billion in unsecured debt held by more than 500
creditors. The case was assigned to Robert E. Gerber of the Federal
Bankruptcy Court for the Southern District of Manhattan.
Big Bucks GOP doing the Lords work
June 1st, 2009
10:46 am
The efforts of Hartmarx, the men’s clothing company, to move out of
bankruptcy hit a serious snag on Friday when Wells Fargo, its main
creditor, announced its opposition to the company’s choice of a
preferred buyer.
Big Bucks GOP doing the Lords work
June 1st, 2009
10:47 am
Big banks have lined up lobbyists to join the battle over derivative
law, in what promises to be a replay of a confrontation in Washington
that Wall Street won a decade ago.
Big Bucks GOP doing the Lords work
June 1st, 2009
10:48 am
BofA employees heading down to corporate headquarters in
Charlotte, N.C., will soon have a more luxurious place to lay their
heads: the bank’s very own Ritz-Carlton hotel
deegee
June 1st, 2009
10:48 am
It’s difficult for me to understand why congress is propping up GM when they lost billions of dollars back in 2005-2006 when the economy was super hot. However, if we are going to keep them alive, I don’t see anything wrong with sweeping out upper management. They are the generals that made the errant tactical decisions that led to their bankruptcy. Additionally, I am heartened that the conversation concerning the future of transportation in America is leaning towards fuel efficiency, smaller cars, and rail transportation. This is the change that I wanted and that I am gleefully getting. I don’t care if it’s painful. The process of replacing old habits with new ways of living is always painful.
I am confident that young, innovative Americans will shape the future of the U.S. in ways that will regain our preeminence in technology, manufacturing and finance. The old folks had their turn and I am grateful for their hard work and sacrifice during tough times. Their constructive criticism is welcome. However, there is no purpose in letting nasty, politically motivated, self-serving criticism interfere with progress. Thankfully, the new boss isn’t the same as the old boss.
Big Bucks GOP doing the Lords work
June 1st, 2009
10:52 am
The failure of Archway & Mother’s Cookie Company seems to show how a
simplistic fraud went on for months unnoticed by a company’s lenders as
well as its private-equity stewards.
booger
June 1st, 2009
10:52 am
Does anyone really believe this was a bailout of GM. This entire bailout was designed to save union jobs.
Lets say Walmart hit a rough patch. Lets then put this in context. Walmart has sales of over $400 billion a year and 2.1 million employees.
GM has sales of $148 billion a year and 235,000 employees. Walmart has sales almost four times that of GM and employs almost 10 times as many people. Do you think Obama would bail them out? Would they be deemed too big to fail?
Everyone knows the answer to that. This was a UAW bailout pure and simple.
Big Bucks GOP doing the Lords work
June 1st, 2009
10:54 am
The American International Group is seeking control of a $490 million
charitable endowment, as well as trying to get back $27 million it has
handed out to New York charities, in order to pay executive bonuses,
DawgDays
June 1st, 2009
10:55 am
America didn’t invent the automobile, that would be Carl Benz. He of the famous Daimler-Benz. Henry Ford developed the first mass-produced automobile not the first automobile.
Just thought you otto know.
DawgDays
June 1st, 2009
10:58 am
The new boss is a community organizer. He cut his political teeth by representing those that don’t do.
Meet the new boss, worse than the old boss.
DawgDays
June 1st, 2009
11:01 am
I see GM is laying off tens of thousands of UAW jobs. Sounds like the new management has recognized a big problem for GM. Too many UAW members on the payroll.
Normal
June 1st, 2009
11:20 am
Billy Bob, You prove my point, entrepenuers do not think what is good
for a country, only what is good for the bottom line. If their way
to the bottom line helps the country, well and good, but if not, tough
luck, country. Speculators are entrepenuers too, and look how much they
have helped our country. Not much, as far as I can see…
Copyleft
June 1st, 2009
11:46 am
Which is why this constant kowtowing and bending over backward to appease “investors” and “achievers” and “entrepreneurs” makes no sense.
Corporations need to be tightly regulated and controlled because of the threat they pose to our economy when they’re allowed to get too big and too powerful.
retiredds
June 1st, 2009
11:48 am
Dear Jim, as an relative old time investor, I have always followed the “golden rule” of investing: “caveat emptor” (Let the buyer beware). I sold my GM three years ago as it was apparent then that the company could not survive for long if it based its business model on gas guzzler vehicles. It was more than evident back then that the die was cast. If you look at the cars they build overseas they are more competitive with the new wave of vehicles that will be successful in a more green world order. Too bad you and your Republican friends didn’t start then to negotiate with GM about changing their business plan. So it was left to Obama, again, to clean up the “laissez faire” mess of your party. And, Jim, don’t forget another maxim, “to the victor belong the spoils”. Have a good day, buddie.
Che was a homicidal maniac
June 1st, 2009
12:03 pm
Obama Hussein owns this economic mess. Blaming Bush is not going to work anymore.
CHAINS WE CAN BELIEVE IN! WOO AMERICA.
DrinkSlinger
June 1st, 2009
12:08 pm
You know, I have to agree with Normal. It is sad that it looks like America is past it’s prime. 200 years and we’re on the other side of the hill going down. We’d be lucky to make it to 300. To an extent, yes, greed has become the weapon that we used to shoot ourselves in the foot. It’s the ugly side of capitalism, folks.
Oh yeah, and speaking of that, how are we in a freemarket society when the four or five biggest companies in America are buying up all of the little ones? Doesn’t that put us on the track to being a different kind of society? Almost a conglomerate society? It’s hard to start a business nowadays because companies like WalMart, ATT, MGM, Newscorp have the market cornered in so many areas.
That is the pert of a freemarket society that our government doesn’t understand… If a company is going to fail, like Chrysler or GM or any of the big banks that did, it makes room for other up-and-coming businesses to take off. It is the natural cycle of a freemarket society. You have to let it happen, not hand thos companies cash like it’s candy. If those companies, the Big 3 particularly, didn’t have a bank account set aside with a couple hundred million in it to help get them through tough times, that is their own freaking fault…And if they didn’t have the B*LLS to stand up to the unions and just let them run them over, let them fail I say.
Folks, you blame Obama for all of this but Bush started the bailouts…Which turn out to be the closest thing to socialism this country has done. Not saying I approve of Obama’s way of handling it, but it didn’t start with him.
We need to take this country back. In a nutshell, the “Conflict Theory” states that people who are in power make laws to preserve their place in society and to keep the ones on the bottom from coming up. That is happening… Look around you. We, as the people, don’t actually have a say in our goverment. The electoral college isn’t even required to vote the way the majority voted. We are just sitting idly by and watching our country go down in flames.
I doubt it will happen but I hold on to hope that when this country does burn to the ground a Pheonix will rise from the ashes.
RetLTC
June 1st, 2009
12:19 pm
Very good DrinkSlinger. To take yours a little further, what does it tell us about a business that has to constantly become more creative with their financing so that customers can afford their product. And what does it say about consumers when businesses can put that one over on them? It has always been my premise that if one has to finance an automobile for more than 3 years they can’t afford it to begin with. And now you have financing out to 7 years in some cases. FOR A CAR!!!! It’s not rocket science. Any business that has to create that kind of financing is doing nothing to control their cost. And it also says that basically, consumers in a lot of cases are dumber than a box of rocks.
Billy Bob
June 1st, 2009
12:27 pm
Normal,
In my experience, the only people who don’t make mistakes are people who do nothing.
In that entrepreneurs are DOERS, they are create new products and services, respond quickly to market changes and do what’s in their best interest but also provide for the country as a whole through excess profits being taken as taxes.
The noble poor are not noble per se and simply do not contribute as much as the entrepreneur. They just don’t add economic value to the country to the same extent. Salesmen, engineers, scientists and lawyers are like that too. Some sell more, generate more revenue and are more valuable to their company.
Speculators are short term investors and, at a minimum, provide additional liquidity to securities markets. They are per se not any more evil than long term investors. I liken speculating as more akin to professional gambling where certain players know how to read the “odds” and “cards” and “players” better than others. Again, at a minimum, they add liquidity to the market which helps make markets more efficient. (Sorry for the economic rant).
booger
June 1st, 2009
12:27 pm
drink slinger,
Bush approved the bailouts of financial institutions which every economist said had to be done. Obama has taken this to a whole new level.
If you think the Auto bailouts are anything other than a UAW bailout, consider this. Walmart does over $400 billion in sales and has 2,100,000 employees. GM does $148 billion in sales and has 235,000 employees.
If Walmart was failing does anyone think this Admin. would step in?
Mac
June 1st, 2009
12:30 pm
Speaking of the GM bankruptcy, the AJC publishes a 10-photo gallery of the beach volleyball tournament in town and only two of them are of the babes in bikinis. The rest were dudes. Just as disappointing as the GM bankruptcy.
DrinkSlinger
June 1st, 2009
12:34 pm
Yes, I completely do. Walmart puts money in politicians pockets on a regular basis and may just be the most powerful company in America. They would probably force the government into helping.
It doesn’t matter. A bailout is a bailout. The bank bailouts were even worse because they knew what they were doing and were doing it as shady as possible.They are called toxic assets for a reason. Basically, the banks took a gamble and lost and we had to bail them out. If I went to vegas and threw thirty grand on the craps table and lost, the government wouldn’t have been there to bail me out, would they? If you look at the people who are on the boards at a lot of those banks you will see exactly why they were bailed out. It was self-interest. And yes, a lot of them are republicans.
Ga Values
June 1st, 2009
12:37 pm
Billy Bob 12:27 pm
Still waiting on your list of CONSERVATIVE Georgua Republicans… By the way your boy Saxby is pushing E85 for use in all cars, that will void your warrenty and burn up your engine. Saxby cares for midwest Ethanol producers not Georgia taxpayers. Did you know Saxby’s son Bo is a lobbyist for the Ethanol industry?
Ga Values
June 1st, 2009
12:39 pm
Both of Georgia’s Socialist Senators voted FOR TARP. Johnny needs to go..
DrinkSlinger
June 1st, 2009
12:46 pm
By the way, push your leaders to get rid of the blue laws. We need the tax revenue that Sunday alcohol sales would bring and it just logically makes no sense not to sell on Sundays.
Billy Bob
June 1st, 2009
12:50 pm
The financial services industry/sector is regulated by no less than the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and fifty state banking/insurance departments. EACH of these bodies has thousands of examiners who perform at least annual exams of each of their regulated institutions. This doesn’t even begin to mention the quasi-governmental bodies like FNMA, FHLMC, and regulators like the National Credit Union Administration, Federal Housing Authority, Office of Thrift Supervision. Then there’s the federal and state bodies that regulate specialty securities markets like futures, options, and commodity exchanges. That’s some serious GOVERNMENT oversight.
YET…
In spite of all the federal and state regulatory examiners, their thousands of pages of promulgated statutes and regulations, the U.S. still experienced a serious blow to the financial services industry.
The root cause – the federal government attempting to “tweak” the economy by loosening the underwriting standards for mortgages acceptable to FNMA and FHLMC. The investment banks followed suit and the result was predictable. Government involvement sets aside normal market discipline. You want people in houses to keep the economy growing, just set aside long established and validated underwriting criteria for getting the mortgage. Short term boost to the economy, but a long term bust.
Keep government involvement to a minimum of collecting taxes and maintaining a military.
Ga Values
June 1st, 2009
1:15 pm
Billy Bob 12:50 pm
Still waiting on your list of CONSERVATIVE Georgua Republicans… By the way your boy, Saxby is pushing E85 for use in all cars, that will void your warrenty and burn up your engine. Saxby cares for midwest Ethanol producers not Georgia taxpayers. Did you know Saxby’s son Bo is a lobbyist for the Ethanol industry?
findog
June 1st, 2009
1:15 pm
Rights always right
Wrongs always wrong
It’s never right to do wrong
It’s never wrong to do right
Or is it
Rights always right
Lefts always wrong
The right is never wrong
The left is never right
When the steel industry went under during Reagan’s watch the workers were put at the head of the line!
The number one thing that kills American competitive performance in labor intense industry is healthcare, should we have supported Hillary in 1994?
I’m with Redneck in my love for Ford pickups but if GM went under the mutual outsourcing product support for Ford and the foreign owned factories here in the south would be equally hurt, do we cut off our nose to spite our face?
I do wish Ragnar was still around to provide sound, conservative financial insights at our hour of need…
retiredds
June 1st, 2009
1:18 pm
Che, 12:03, I don’t blame Bush and his nimble minded cronies, I just hold them accountable. You won’t fine him or any in his administration EVER taking responsibility for anything negative. So when the history books are written in this chapter of American history I don’t think you will like that facts that will lay the current recession/depression at his (Bush’s) doorstep. But my experience is that the current crop of Republicans never let facts get in the way of ideology or revisionist history.
Churchill's MOM
June 1st, 2009
1:18 pm
Did you not write the same article twicee last week.. Let’s get back to writing about our next President Sara Plain..
*************Handel 2010*********Palin Mccain 2012****************
Churchill's MOM
June 1st, 2009
1:21 pm
retiredds 1:18 pm
Too bad Raghead lost his job and can’t afford a home computer. He’s set you straight.
*************Handel 2010*********Palin Mccain 2012****************
DawgDays
June 1st, 2009
1:24 pm
Each of Georgia’s Republican Senators and Congressmen as well as its Republican state legislators is more conservative than any one Democrat. That’s good enough for me, DNC Values.
Sounds like Saxby’s kid has a job – unlike you.
DrinkSlinger
June 1st, 2009
1:27 pm
Sorry Churchill, but Palin is an idiot. How do you see her as being qualified. The only reason McCain picked her was to compete with Hilary for the women’s votes. Shoot, my bartender is more qualified than her. As a matter of fact, I think Palin is one of the things that killed McCain. Not the biggest, by far (That would be following Bush), but one of the things that added to it.
DawgDays
June 1st, 2009
1:29 pm
findog,
I have one word for you – NUCOR. Look up the financial performance for this steel company. Reagan broke the back of steel tarrifs. That allowed businessmen to find a different approach to the steel industry.
Buh-bye US Steel, hello NUCOR.
DawgDays
June 1st, 2009
1:31 pm
I agree with you DrinkSlinger. Palin is a reflection of the incompetence of McCain.