Michigan Radio News

NPR News

« Essay: Socialism Comes to the Auto Industry - 4.29.09 | Main | Essay: Time for Grownups - 5.1.09 »

April 30, 2009


Feed You can follow this conversation by subscribing to the comment feed for this post.

Well, here we are. Bankruptcy reoganization. Weeks and months after Governor Jennifer Granholm said that a "bankrupt automaker can't sell cars; nobody will buy a car from a bankrupt automaker," as she chided Republicans for suggesting use of Chapter 11 tools to reorganize Chrysler into a more efficient vehicle for (hopefully) turning a profit.

Now, Granholm is a cheerleader for Chrysler's recovery-through-bankruptcy plan.

Mostly, because it isn't a real bankruptcy, yet.

As Paul Ingrassia reports today in the Wall Street Journal, the people who invested in GM -- its investor-creditors -- are being taken to the cleaners in this reorganization. You know those guys. "Hedge fund managers." Those dastardly figures that invest money to help build companies they think will be profitable. What a concept. What a country.

I just finished listening to President Obama in an NPR report on the Chrysler bankruptcy filing. Obama let loose with a string of the most bald-faced lies of his Presidency; he said that the bankruptcy was forced on the company and all of its stakeholders by the aforementioned hedge-fund managers. Who, he said, insisted on giveing up "nothing" while all other Chrysler stakeholders gave up plenty. He singled out for compliment the working families of Chrysler.

This is enough to induce vomiting. It is a lie. A complete, utter, total fabrication by the President who, I presume, will be excoriated in the financial press for his lying, while the rest of the world reads reports like the one Jack Lessenberry wrote above.

Anyway, here's Jack's favorite atuomotive reporter at the Wall Street Journal:


Obama uttered the same political nonsense as the apologists for Chrysler and the media slugs in this region becuase of the ad budgets of the Big 3 ignored the worthless CEO"s of the Big 3 but instead provided us with the usual tabloid driven anti-Black Detroit hating tales..

The Financial press i.e WSJ is as worthless as our local media papers the yoyo's at WSJ were brain dead during Maddof's carnage..

Fact is as I have posted many times in here the Big 3 and our planet must change thier entire paradigms..

Automobiles are obsolete on a planet now suffering from global warming and emerging markets..Our future and labor growth is in mass transit modes...

Wasting time on pointing fingers is what people do who lack vision and focus...

The comments to this entry are closed.

A Production of

***UPDATE 9/2/09: Read the user agreement, effective immediately.***

The Podcast


April 2011

Sun Mon Tue Wed Thu Fri Sat
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30