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I have been remise in posting pictures of the cutest dogs in the world.
The House and Senate each have their own bill for automaker loans, each contain impossible stipulations.
Both have these provisions
The Treasury would start lending money as soon as 25 days after the bill is approved.
Money would come from the $700 billion set aside for the financial industry bailout.
Top executives' pay would be limited, and so-called golden parachutes banned.
Automakers and suppliers would have 10 years to repay the loans, paying 5% interest in the first five years and 9% interest in the second five years.
Automakers would have to submit plans when they apply for how they will use the money to restructure the business and build more efficient models.
The government would take unspecified amounts of warrants or senior debt of in companies that take loans.
Suppliers don't qualify; automakers would only get part of the money now, with the rest coming after a restructuring plan.
That plan, due March 31, would have to include reworking debt and meeting fuel economy standards.
The government would take warrants worth 20% of the loan, and the loans would be due in 7 years.
I am still trying to find similar stipulations that congress placed on the Bank Bailout but haven't found them yet.
Besides the above, congress wants to tell the automakers what to make and what kind of gas mileage the cars should be getting.
The industry's old enemies in Congress, while mouthing support for the bailout, clearly see it as an opportunity to saddle carmakers with even more costly mandates. Pelosi, President-elect Barack Obama, Rep. Barney Frank, D-Mass., and others continue to talk about the conditions that will be placed on the bailout, including requirements for more fuel-efficiency and emission controls.
Such mandates will cost more money than Washington is offering in aid. Government regulations that required the automakers to build vehicles the market wouldn't support help to bring about this crisis. Adding more such mandates won't make things better.
Dumocrats just see this as an opportunity to tell the automakers what to make and tell the public what they can drive, they will get their way one way or another.
Congress and the Media seem to be applying campaign tactics to the domestic Auto's fight for Loans.
If you repeat incorrect facts long enough people will believe they are true.
Sunday, Sen. Richard Shelby, R-Alabama, claimed on NBC's "Meet the Press" that the automakers "don't innovate" and called them "dinosaurs."
Chevy will be first to market of all automakers (foreign and domestic) with an all Electric Vehicle and the Big 3 spend an industry leading $12 billion/year in R&D mostly on fuel effencent vehicles.
House Speaker Nancy Pelosi, D-Calif., said the automakers need to restructure their businesses in exchange for federal aid.
Expenses have been slashed, management teams have been changed, new operating plans are in place and new innovative vehicles are in the pipelines.
And where are the demands of the same for the banks? Must have missed those.
The New York Times' Thomas Friedman, one of the industry's most constant critics, contends Detroit has picked the wrong products for the markets and waited too long to go green.
All 3 have many, many vehicles that offer 30 plus mpg and most of the new products coming out are all cars. And Detroit hasn't picked the wrong products, the buying public are the ones buying the Trucks and SUV's. The Big 3 were not forcing the public to buy them, the Big 3 had cars that they could have bought.
Newsweek commentator Robert Samuelson writes that back-breaking contracts with the United Auto Workers make the Big Three uncompetitive
Contracts signed last year gave major concessions to the automakers and new employees will be making considerable less then what the foreign automakers are paying. Also the Big 3 in 2010 will no longer be paying retiree health care, it's up to the UAW to pay that now. Not to mention the concessions that have been given up every year for the past 4 years by UAW members, a fact that nobody seems to mention.
Sounds like people are making excuses for not allowing the loans and setting up the Big 3 to take the fall for not getting loans.
Congress is debating whether or not to give the Big 3 a
bailout loans, this should give them a good reason why.
According to a Bloomberg.com article by Alex Ortolani and Mike Ramsey, A GM collapse alone would cost the government as much as $200 billion for costs associated with unemployment insurance and other programs after millions of auto-related job losses, according to a forecast from IHS Global Insight Inc. in Lexington, Massachusetts. Thats not counting the cost should Ford and Chrysler suffer a similar fate.
If that isn't good enough reason how about this:
US carmakers have 105 plants in 20 states. They support 14,000 dealers across the country, who in turn employ 740,000 people. The automakers buy $156 billion in parts and services from suppliers in every state. The collapse of the Detroit automakers would lead to widespread failure of these suppliers, who also supply the non-US auto manufacturers. It would quickly put an estimated 3 million people out of jobs and cost this country $150 billion in spendable income and $45 billion in taxes those unemployed people wont be paying.
You want to see a great depression, let the domestic automakers fail.
And let me reiterate that these are loans, not bailout money like the banks got.
I am in a flare-up.
Been hurty for a couple days, thought it was weather related but now realize I am heading up that hill and into the "high" point of the flare.
Silver Lining: Being unemployed means I can take the good drugs during the day.
On another note: Uped my new meds doseage yesterday to full strength and the side effects appear to finally be going to the way side, yea!
Michigan motorists will find tougher driving this winter now that the Michigan Department of Transportation has directed county road commissions to cut back on plowing and salting of secondary roads.
Yes, you read that right. Michigan is planning on cutting back on plowing and salting roads.
You may notice they used the words "secondary" roads. Doesn't sound so bad right?
Well secondary roads are those roads that are not Freeways.
Shreck said that on secondary roads, MDOT guarantees one lane in each direction. "If the storm is severe, we will approve sending crews out on overtime: we wouldn't do anything to compromise safety."
They had a list of what they consider are secondary roads, they feel that a 2 lane divided highway (Michigan ave) is considered a secondary road.
Oh and they also consider every road in Townships to be secondary roads. I live in a Township, they came out and specifically said my Township will receive very little plowing and salting. We by no means live in the country, by any stretch of the imagination. It's their justification to screw Townships.
They are also claiming that this has to do with the rising cost of salt. And in case you didn't know, the entire area of SE Michigan sits on top of a huge salt mine.
Anything for the almightly dollar.
I hate Dumocrats.
Must have had his fingers crossed behind his back and hopefully the UAW that supported Obama will have a good chuckle about the irony when they lose their jobs.
The president-elect has said, for example, that he intends to quickly reverse the Bush administration's decision last December to deny California the authority to regulate carbon dioxide emissions from automobiles....
California had sought permission from the Environmental Protection Agency to require that greenhouse gas emissions from vehicles be cut by 30 percent between 2009 and 2016, effectively mandating that cars achieve a fuel economy standard of at least 36 miles per gallon within eight years. Seventeen other states had promised to adopt California's rules, representing in total 45 percent of the nation's automobile market. Environmentalists cheered the California initiative because it would stoke innovation that would potentially benefit the entire country.
"An early move by the Obama administration to sign the California waiver would signal the seriousness of intent to reduce the nation's dependence on foreign oil and build a future for the domestic auto market," said Kevin Knobloch, president of the Union of Concerned Scientists.
Before the election, Obama told others that he favors declaring that carbon dioxide emissions are endangering human welfare, following an EPA task force recommendation last December that Bush and his aides shunned in order to protect the utility and auto industries.
This will destroy the automotive industry, completely and totally. California doesn't want just 36mpg in 8 years, they want to get to 70mpg.
Obama wants us all to drive Prius's, looks like he will get his way.
Welcome your new socialist overlords.
I just can't believe that Our Savior would think of doing such a thing.
President-elect Obama's transition chief said Sunday the incoming administration is looking to reverse President Bush's executive orders on stem cell research, oil and gas drilling and other matters.
How would have thought that the Great One would screw the little people by reversing the order allowing Oil and Gas Drilling off shore and in the frozen tundra of ANWR.
Start looking for gas to go up tomorrow.
I HAVE KNEES !!!!!!!!!!!!!!!!!!!!!!
This morning I was sitting and looked down at my knees and wondered what was wrong with them, there were indentions on both knees.
And then it hit me like a brick ...
THEY ARE SUPPOSE TO LOOK LIKE THAT!!!!!!
I haven't seen my knees in at least 10 years because they are always swollen, they kind of look like little barrels.
AND IT'S FREAKING RAINING !!!!!!!!!!!!!!!!
I am not ashamed to admit I cried.
They barely hurt and my ankles don't hurt at all and it's suppose to rain the entire weekend. I would be in major pain right now ...
This means the new meds are starting to work !!!!!!!!
They said I should start to see improvement in 3-6 weeks with full effects at 12 weeks.
This weekend will be the 4th weekend of taking the new meds.
I am happy !!!!!!!!!!
Ford announces great loses and that it's going to cut even more salary workers.
Ford Motor Co. says it lost $129 million in the third quarter as the struggling automaker burned up $7.7 billion in cash.
The automaker also said Friday it will cut another 10 percent of its North American salaried work force costs as it tries to weather the worst economic downturn in decades.
And with both GM and Chrysler announcing a couple weeks ago that they both plan on cutting thousands of salary jobs too.
It's in the back of mind that it could be a year before I find a job.
I wonder who the hell is going to be left to actually do work, the janitors?
Good god, I may as well just start drinking now.
Democrats appeared to have added nine seats to their state House majority, buoyed by a massive voter turnout and President-elect Barack Obama's strong Michigan showing.
The Michigan house had a dumocrat majority before, now it's just even worse.
With nine additional seats, the Democrats' majority grows to 67-43. But it still is balanced by the 21-17 Republican majority in the Michigan Senate, which remains because it had no seats up for election Tuesday night.
What is even worse, my city voted in a Dumocrat to replace the outgoing, term limited Republican. I am surrounded by them. A big reason why is because the current Michigan administration has very successfully pinned Michigans despression on Bush.
And Michigan voters also approved embroyonic stem cells and medical marijuana.
Oh and even the freaking courts, from the Michigan Supreme down to districts courts went overwhelming dumocrat.
At least my Congressman, Thad McCotter was reelected. A small glimmer in a dark tunnel.
I have been to other blogs today and everyone is saying they will respect the office and hope Obambi does well, yadda, yadda, yadda.
I can't and I won't.
I have seen what Obambi really stands for, I know what he thinks of us fly over states.
I know what he will do to the Automotive Industry.
I refuse to give him the benefit of the doubt, that maybe he won't be that bad.
Yes he will, we have seen him lie. Tell whomever he is with what they want to hear but go behind their back and tell others he had his fingers crossed (ie, NAFTA and Canada).
Terrorist leaders wanted him elected.
His own VP has said that we will be tested but won't like what Obambi will do.
And he has a dumocratic congress to back him up.
And you have to wonder how much voter fraud was their, was there enough to swing the vote toward him. Did he really win fair and square, I highly doubt it.
God help us, because we are going to need all the help we can get.