Geitner behind ending pensions for non-union Delphi workers

There never was a story about Iranian born Valerie Jarrett that I can pass by,whose father-in-law was head of communist youth The story really isn’t about her, but this is about this petty corrupt administration playing Chicago style politics from day one. While Obama and oh so many rave about the success of the auto bailout, not one comment about the Delphi employees who lost their jobs, and the non-union retirees that lost their pensions, Add all of the crony auto dealers who managed to survive the cut in dealerships and we have a story that never made the list of a worthy story worth the print. But here we go:

Emails: Geithner, Treasury drove cutoff of non-union Delphi workers’ pensions was posted on Tuesday by the Daily Caller show senior White House and Treasury officials were behind the termination of pensions for 20,000 non-union Delphi salaried retirees.Those emails show that the Treasury Department, led by Secretary Timothy Geithner, was the driving force behind terminating those pensions — a move made in 2009 while the Obama administration implemented its auto bailout plan. The emails contradict sworn testimony in which several Obama administration figures have consistently said that the decision to terminate the pensions came from the Pension Benefit Guaranty Corporation (PBGC). The PBGC is a federal agency that handles private sector pension benefits issues. Its charter calls for independent representation of pension beneficiaries’ interests.

Valerie has no comment on the matter.

Read more: Daily Caller

Obama’s G.M. to give big bonuses to workers – Dad would be proud

Obama in Kenya..Same idea, different crowd

Obama in Kenya..Same idea, different crowd

Obama’s dad wrote an “important article” called “Problems Facing Our Socialism.” . Obama’s Dad would be so proud of his son.

The anticolonial thinking of Barack Obama, Sr. is all there.  So too his socialist ambitions.

The senior Obama proposed that the state confiscate private land and raise taxes with no upper limit. In fact, he insisted that “theoretically there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed.”

If this angle is of interest to you, take a look at an earlier post of ours: Obama’s Psyche and that which makes him rage

Looks like Pops would be oh so proud of Barry. GM will profit share up to $3000.00 per worker. The fruit did not fall far from the tree.

Feb. 8 (Bloomberg)General Motors Co. may pay its 53,000 unionized hourly U.S. staff record profit-sharing checks of more than $3,000 per worker, two people familiar with the plan said.

The company hasn’t determined a specific amount and may change its plans after completing accounting for 2010, said the people, who asked not to be named because the plans haven’t been publicly disclosed. GM’s previous highest payout was $1,775 in 1999, according to the Center for Automotive Research.

Sharing the U.S. auto industry’s prosperity will be a focus of contract talks this year between the United Auto Workers and GM, Ford Motor Co. and Chrysler Group LLC. UAW President Bob King has said he aims to recover some of the $7,000 to $30,000 in concessions each worker gave up since 2005 to help U.S. automakers survive the worst market in decades.

“This is probably more than workers were eligible for so that they’ll feel good going into negotiations, which makes this a pre-signing bonus,” said Sean McAlinden, a former auto worker who’s now chief economist for the Center for Automotive Research in Ann Arbor, Michigan. “Lump-sum payments like this could make up 12 percent to 15 percent of compensation in the next contract.”

GM sells U.S.-based factory to China

Understatement of the day:

“Did it really need to be sold to the Chinese?” asks Roger Kahn, a state senator from Michigan. “I want to see businesses successful in the U.S. owned in the U.S. This doesn’t meet the standard.”

Amid a series of heightened exchanges between Washington and Beijing over China’s currency manipulation and the U.S. Federal Reserve’s loosening of its monetary policy, a fresh layer of intrigue was slapped on by recent news that Beijing-based Pacific Century Motors has successfully purchased a General Motors plant in Saginaw, Michigan.

Under the name Saginaw Steering Gear, the Michigan unit has made steering equipment for GM and its affiliates for over 100 years, employing close to 8,300 staff around the world. Now named Nexteer, it is Saginaw’s largest private employer.

The US$450 million dollar purchase includes 22 factories, six research and development centers, and 14 customer-support centers. Autonews

Meanwhile, China is getting prepared to suck up the GM IPO.. does it get any better? Our little Maoist loving President?

The two government-funded automakers are currently finalizing how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC’s ambitions to move beyond the China market, the people said. Reuters


A ruse by any other name is still a ruse.   In a report issued earlier this week, Neil Barofsky, the special inspector general for the TARP, said,

“GM has made several payments on its outstanding loan to Treasury and expects to pay it in full by June 30, 2010. The source of funds for these quarterly payments will be other TARP funds currently held in an escrow account.”

Say what?  GM used taxpayer funds from one account to pay a taxpayer funded loan?

As explained by the Washington Times: “As a ward of the state, GM has to do the bidding of its Washington masters and stay in lock step with the Democrats’ claims about the company’s condition. The truth is that GM’s condition remains poor.”

And Ed Whitacre looks like such a nice guy in all those ads telling me how things are booming again at GM.  So Matrix has to ask –  What gives?  Well – apparently we the American taxpayer.  The Government just pulled an ENRON with GM and the MSM is silent.   Can’t wait to see what ‘Financial Reform” looks like.

GM Announces Establishment of China Science Lab

  Shanghai – General Motors Company announced recently the establishment of its China Science Lab in Shanghai.  The unique facility will carry out important research projects in a number of automotive-related fields for General Motors.  As the first major science lab established by a global automaker in China, it will contribute to technological innovation, both domestically and on a worldwide basis.

One Big Happy Family

One Big Happy Family

Thanks GM– our tax dollars at work. Glad we could help you out!

“I am very excited to be able to leverage my many years of experience conducting research in China at General Motors,” said Du. “The China Science Lab’s launch will contribute to technological innovation, collaboration and management at GM, while helping GM maintain its technology leadership position.”

Obama’s 200 days of Political Hell

 The first 200 days of Barack Obama’s presidency…?” And the short list of political atrocities begins.
    Who would have believed that within the first seven months of the new administration, 90% of all mortgages in the United States would be backed by the federal government (placing the taxpayer at risk for over $5 trillion dollars, I might add).  The U.S. government, would also become a major shareholder in one of the world’s largest banks, Citigroup-who would have believed it?   The feds hostile takeover of General Motors and Chrysler, the sacking of their respective CEO’s, replacing them with political appointees, and then heartlessly closing hundreds of profitable dealerships across the country, many of whose owners were known to have contributed to Republican politicians and conservative causes. 

   If America had known this would happen upon electing Barack Obama as president, would the country have listened?

“If I told you that if elected, the budget deficit for Barack Obama’s first fiscal year would total $1.6 trillion dollars, and in ten years the predicted national debt would surge to $16 trillion, would you have believed me?  And we conservatives thought George Bush had a spending problem,” I declared. 

 “If I would have told you that the Obama White House would drop the lukewarm phrase ‘War on Terror’ and replace it an even wimpier one: ‘Overseas Contingency Operation,’ would you have believed me?  And if I told you we’d soon be reciting Miranda rights to terrorists captured on the battlefield-AK-47 toting thugs attempting to kill Americans soldiers in Afghanistan-would you have listened?”

 Oh, and I noted his first egregious action that nobody would have anticipated: on the night of his inauguration our new Commander in Chief became the only President to blow off the Salute to Heroes Inaugural Ball, sponsored by the American Legion.  Close to 50 Medal of Honor recipients and esteemed guests were assembled.  Mr. Obama traded the presence of our nation’s greatest patriots for fools like Kanye West and Leonardo DiCaprio. Would anyone have believed me if I had said this would occur?

 “if I had told you our nation would have an Attorney General who does not believe the Second Amendment is an individual right; or that a Supreme Court justice who feels race makes for judicial wisdom, would be sworn-in; or that the Tenth Amendment would be obliterated by the new administration in an attempt to pass ‘health insurance reform’?  Would you have believed me?”

If we told you, some said, that the Lockerbie murderer, Abdul Al  Megrahi, a man convicted of killing 270 passengers aboard Pan Am flight 103 in 1989-180 of those Americans-would be freed from prison, and the response from America’s president would simply be, “we thought it was a mistake,” would you have believed us?

 If we told you, they shared, that we would actually have president who declared the United States is “no longer a Christian nation”; or a president who would not publicly participate in the National Day of Prayer; or a president who would travel to Egypt to give a major address directed to the Muslim world, would you think we were crazy?

  President Obama’s first formal televised interview was taped and broadcast on Al-Arabiya (think of it as Al Jazeera-lite), and his first phone call to a world leader was to a former pillar of the Palestinian Liberation [terrorist] Organization, Mahmoud Abbas.  Who would have believed it?

 After 9-11, the British government presented George W. Bush with one their country’s great modern treasures: a bust of Winston Churchill.  President Bush prominently placed the iconic figure of vigilance and courage in the Oval Office.  After Obama’s inauguration the Brit’s offered the prized possession to remain with America’s new commander.  Obama turned down the offer and had Churchill crated and shipped back to England.  If you were warned this would occur, would you have believed it?  Or would you have believed that, upon British Prime Minister Gordon Brown’s first visit to the White House, our president would present the leader of our greatest ally with a tacky gift box of DVDs, including Psycho and The Godfather?

  The list includes 10% unemployment, a $787 billion stimulus package, calling the work of a municipal police force stupid, plans to hijack the student loan industry, and appointing a hater of conservative radio to the FCC.

 If we had told you, would you have believed such things were possible in the United States of America?  Well, to a large degree, many of us did, and now many more believe.

Excerpted and modified from:

 Brian Sussman is a radio host on KSFO, San Francisco and author of the forthcoming book, “Global Whining: confidence to confront the biggest scam in history,” to be published by WND Books.

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