Trouble for the Auto Industry Bailout

Reports indicate that there is less confidence that the auto indusrty bailout will be passed. Many Republicans and some Democrats question whether the bailout bill will use taxpayer's dollars effectively. The Bloomberg article Democrats Back Off Prediction of Automaker Bailout Approval describes the latest version of the bill.

The Democratic proposal would let the president appoint a so-called car czar to oversee industry restructuring, and give taxpayers stock warrants equal to 20 percent of the loans. It would prohibit the automakers from paying dividends and owning or leasing corporate jets, and pay and bonuses would be limited.

This, however, does not address the inherent problems with these businesses. Preventing the "paying dividends and owning or leasing corporate jets, and pay and bonuses" addresses none of the major problems with these companies. A limit on excesses misses the basic fact that these are failed companies, who can't garner loans from anyone other than Congress. The only check or change that this bill implements is 'a car czar'; the powers of which Chairman Barney Frank tried to explain...

‘Head-Knocking’

Frank told reporters today the bill would give the car czar “a great deal of head-knocking ability” with “a lot of the powers that you would get in bankruptcy.”

The official would have the power to veto participating automakers’ plans to invest abroad, Frank said. Lawmakers want to ensure the companies don’t “take American taxpayer dollars and expand in other countries rather than here, or shut down a plant in America while expanding a plant elsewhere,” he said.

Because Bush and President-elect Barack Obama are unlikely to agree on a czar, Obama will likely replace Bush’s pick as soon as he takes office, Frank said. The Bush administration has said the official should come from the Commerce Department.

So this 'car czar' a likely member of the Commerce Department will be apparently appointed by President Bush then replaced by the future President Obama, and he shall be granted 'head knocking abilities'.

Chairman Frank went on to state that the auto industry will likely need to be granted more money in the future, something Speaker Pelosi has also stated. This does not instill confidence that this bailout will be anything but a waste of money.

A few basic questions for lawmakers...

How will this money fix the failed business policies of the auto industry?

How many bailouts and/or how much money will be paid to the automakers total?

What's wrong with bankruptcy?

What are the requirements for being granted a government bailout?

This is still not an rational solution. Ask your representatives not to support this bailout bill, and make them at least answer the basic question, 'how will this money fix the problems that the auto industry faces?'

Contact Your Senator

Contact Your Congressman

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Continued Problems with the Automaker Bailout

Colonel David Hunt, Back in NH! - December 11

Col. David Hunt has been a Fox News Military Analyst, Howie Carr Contributor, O'Reilly Factor Guest, Etc. and is doing a dinner in honor of Senator Joe Kenney (Lt. Col Marine), as a salute to Joe's 14 years in the legislature.

Col. David Hunt has over 29 years of military experience including extensive operational experience in Special Operations, Counter Terrorism and Intelligence Operations. Most recently,Colonel Hunt served as Tactical Advisor in Bosnia where he facilitated all national intelligence matters for the Commander in Chief. Prior to this, he served as counter terrorism coordinator to the Summer Olympic Games in Seoul, Korea. In this capacity, Colonel Hunt planned, choreographed and implemented the first United States national response for an Olympic event in Korea in conjunction with Korean National Intelligence and the Korean Crisis Response Agency. He has served as a security advisor for the Federal Bureau of Investigation as well as state and local police officials.

A graduate of Harvard University's John F. Kennedy School of Government,Colonel Hunt holds a Master's degree in English from Norwich University. His books include "They Just Don't Get It" and "On the Hunt...How to Wake up Washington and Win the War on Terror"

Col. Hunt is blunt and entertaining. This is your opportunity to see Hunt in person. He tells it as he sees it and will be giving us his take on Obama and the military.

Don't miss this entertaining and affordable evening on Thursday, December 11th at the American Legion Post 7 in Rochester, 94 Eastern Ave, from 7-8 PM. Dinner is only $35

There will be a pre-dinner reception for those that would like a personal conversation with Hunt. If you would like to attend that your ticket for both dinner and the VIP reception would be $50 the VIP reception starts at 6:30 PM.

Please call 670-8470 for information. Checks may be sent to Joe Kenney for NH, PO Box 4007, Concord 03302

Sheridan Folger,

Just Say No to Auto Bailout Deal Part 2

Yesterday's article Oppose the Auto Bailout was not intended to be anti-union or anti-auto company, it's simply the opinion of an old fashion cheapskate. If the government is going to spend taxpayer dollars they need to ensure that those funds are not being wasted. There has been little effort to explain why pumping money into failed businesses will fix that failed business model. Voters should contact their lawmakers and let them know they will hold them responsible if they give automakers billions of taxpayer dollars only to see those business collapse in the future.

Contact Your Senator

Contact Your Congressman

Similar sentiments we're expressed by Senator Mitch McConnell (R - KY).

U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Tuesday regarding proposed auto legislation:

“The auto industry is vitally important to our nation’s economy and it is vitally important to my home state of Kentucky. This is not in dispute. The question before us is how to reverse the decline of some of these auto manufacturers after decades of complicity between management and labor.

“I understand congressional Democrats sent a revised proposal to the White House late last night. We will reserve our judgment until we see the latest text. But the proposal we saw yesterday afternoon fails to achieve our goal of securing the long-term viability of ailing auto companies.

“I want to support a bill that revives this industry. But I will not support a bill that revives the patient with taxpayer dollars yet doesn’t secure a commitment that the patient will change its ways so future help isn’t needed.

“To do so would be a betrayal of the millions of hardworking taxpayers who are not at fault for the troubles in the auto industry. And it would be unfair to the millions of Americans who depend on these companies.

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No Auto Bailout Part 2

Just Say No to Auto Bailout Deal

RedState.com has posted a couple pieces on opposing the government bailout of the auto industry. The first by Representative Michele Bachmann opposes not just the auto bailout, but the concept that Washington should be spending tax payer money to prop up failed businesses. The second article by Francis Cianfrocca discusses how contract renegotiations with the United Auto Workers union need to be included any proposed bailout as failure to so will result in the eventual failure of those companies with or without a bailout. Excerpts below.

One main reason the auto bailout is facing such opposition is that there has been no attempt to explain why pumping money into a failed business will fix that business. If these company continue on their current path this bailout will simply prolong the time before before failure, and will result in simply wasting a huge sum of tax payer dollars.

For those who oppose bailing out the auto industry, folllow the links below to contact your Senators and Congressmen to let them know that you do not support this bill, and that you will hold them responsible for wasting your money.

Contact Your Senator

Contact Your Congressman

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No More Bailouts by Rep. Michele Bachmann

Washington needs to stop handing out your money like its Monopoly money. Each dollar is hard-earned and the men and woman who worked so hard for it deserve more respect from their government than to be treated like an ATM. Our economy grew strong on the backs of Main Street; from the ideas and sheer sweat of innovators and entrepreneurs flush with the American spirit. Risk-taking is part of that adventure. But when government guarantees against failure, risk and reward becomes meaningless. Eventually, that will crush our economy- and that eventually may not be that far down the road.

The Critical Missing Piece in the Automaker Bailout by Francis Cianfrocca

There will be no significant cost-cutting or pain imposed on the UAW in the restructuring of the domestic auto industry, unless it happens right now, this week.

The UAW must agree to a labor-cost structure that, in Sen. Corker’s words, is no higher than that faced by foreign (“transplant”) automakers who assemble vehicles in the United States. The union must agree to very painful concessions on wages, healthcare, work rules, and retiree benefits.

Gettelfinger, playing to the galleries, has assured lawmakers that he will indeed be open to doing whatever he can to seal the deal. Among other things, he’s signaled willingness to end the so-called “job bank.” You know, that’s where an automaker closes a production facility that no longer makes sense, but continues to pay the workers full wages and benefits to play video games all day, for years into the future.

But what Gettelfinger has pointedly not said, is that he’s willing to re-negotiate the contract that the UAW currently has with the automakers. In short, he’s not preparing to compromise at all, or to ask his people to take any real pain.

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Oppose the Auto Bailout

Thank you LRR

NOTE: This is cross-posted at BS 08

Hello readers of LRR/BS 08-

Just wanted to say thank you to all of the readers who made this blog successful. While we didn't get the results we wanted, we sure gave it out best shot, defending conservatism and promoting freedom and liberty to America. 

While Barack Obama may not be our first choice for President, I urge you all to give him the respect that our commander in chief deserves. Over the last 8 years, the amount of disrespect shown to our President has been unthinkable. And I believe that this has hurt America. 

Thanks again to the readers and the folks at LRR and BS 08 for letting me share my views with the blogsphere. 

Until the next election, I urge you to check out the George Mason College Republican Blog for more post and commentary. Also, I am in the talks to create a blog to focus on the politics of Virginia's 8th Congressional District. If you are interested in VA or Northern VA politics, please check out the GMU CR blog, as well as the new blog (link coming soon).

Thanks again, and I wish you all the best-

Not Jim Moran

Sheridan Folger: Your Impact, Give Yourself A “Thank You”, I’m Giving You One.

Your Impact: Give Yourself A “Thank You”, I’m Giving You One.

I wanted to take the time to sincerely thank any and all of you out there that participated in this election cycle. I thank those that were with us from the start, those that joined us in the end and everyone in-between.

I am saving my comments and thoughts regarding the outcome of the election, the future of our cause etc for a later post. This is simply a straight forward THANK YOU.

(for the record when I say we throughout this post I’m talking about YOU!)

In the past two years I have been lucky enough to meet folks all across this nation from every conceivable ethnic background and walk of life. I’ve communicated with you via, phone, internet, TV, Radio and even in person. Overall I am better off for it.

Often throughout this process doubts were present. Doubts about our abilities, or focus,

Our agenda, our purpose, our impact and practically everything else. I can assure you from the bottom of my heart there is no doubt.

For those that questioned our impact and all of the aforementioned let me just give you a bit of info to digest.

Collectively we posted 345,621 blog posts. (related to the mccain campaign etc) That is the most accurate number I have (and trust me I’ve done my best to keep close track) however I am quite certain the number is higher. Our first month in operation we increased McCain’s over-all online presence by 524%. It never fell again. We had articles, stories etc picked up by the Main Stream Media, TV, Print and Radio etc that otherwise never would’ve appeared there. Often we completely took over tracking sites such as Technorati, Wonkosphere and several others . . .we retained a strong presence on all throughout.

THANK YOU.

Before we lost the ability to directly track our contributions (as of January of 2008) we had contributed $116,000.00 dollars directly to the McCain campaign. Since we only grew and put forth stronger numbers and efforts from that point on I can safely assume that number rose dramatically. We also raised $4309.64 for various conservative/republican candidates around the country directly through slatecard, Along with another $3625.00 for candidates above and beyond that.

THANK YOU.

Over 64,400 people from around the country clicked on our link to make phone calls on behalf of the campaign. Many of us held phone banks periodically in our homes, made calls on our own or went to HQ above and beyond that.

THANK YOU.

Many of us were interviewed by or asked to write for or speak to the Main Stream Media,

Including FOX news, NBC, CBS, Columbia News Journal, Medill News, Hundreds of collegiate and high school news services, MSNBC, CNN, ABC, Dozens and dozens of radio programs, the BBC (many times) and the list goes on and on.

THANK YOU.

When the campaign was low on resources WE WERE THERE. In the NH primary we literally put 500 boots on the ground. These volunteers did everything a paid campaign normally covers. We single handedly won the NH primary for McCain which of course resulted in his attaining the nomination of the party.

When McCain began the no surrender tour it was from our ranks he pulled the veterans and volunteers, many of us road on that tour with him when he need us.

THANK YOU.

We contributed THOUSANDS of dollars directly out of pocket to cover expenses of our efforts, to help others etc. (I will not give the dollar amounts to protect those that wish to remain private etc).

THANK YOU.

We traveled around the country to battleground areas and areas in desperate need of additional support, typically on our own dime.

THANK YOU.

When the campaign was lacking in signage we took up the cause. We raised money for signs around the country. We shipped over 3000 signs in a two month period to states, areas that needed them. We shipped them in most cases without charging the receiving party. Often we even covered the shipping charges. Not including all of the stickers, hats and pins we sent out.

The campaign on numerous occasions implemented ‘our’ ideas and took ‘our’ advice.

(had they done it a lil’ more often perhaps we would’ve won . . . lol)

We also ran 21 Television commercials in KEY battleground areas around the country thanks to direct donations from YOU!

THANK YOU.

We created ‘groups’ in every state on facebook, google and other platforms. (over 800 affiliated groups, most set up by us directly!) From these groups 15 individuals were directly hired by the campaign (several others had offers and turned them down, but continued to volunteer anyhow!). Of those 15 directly hired 2 were at our request, 8 at our suggestion. One of these folks became part of McCain’s official personal advance team another one of Sarah Palin’s handlers.

The google groups (which ended with 745 members) were utilized directly by the McCain campaign for several months and we received several written messages thanking us for that use and the amazing results they achieved when using them. Often they found their ‘area’ leaders or boots on the ground folks directly from those groups. They stated that they always had a positive response and that every time they reached out via that avenue those folks ALWAYS showed up for them.

THANK YOU.

We had an amazing force of numbers and effort. Our contact list grew to over 700,000 during the course of this campaign. AMAZING! That is just staggering! That is from members of our various sites/blogs/groups/subscriptions etc. Millions upon millions of ‘hits’ and ‘visits’ to our sites,blogs,platforms. Hundreds of thousands of readers (sometimes for one blog). . . you truly reached the masses my friends.

THANK YOU.

Now I could go on and on boring you with details and numbers but I won’t. I just wanted to make sure you had at least a slight idea of the tremendous impact you had. We may not have won, but ultimately our accomplishment was astounding. We impacted the process. We insisted our voice be heard and succeeded. NEVER forget that.

The ‘battle’ may be over however the war rages on. The war for the heart and soul of our country has begun. Don’t start whispering now, do not hang your heads in shame, or storm away in anger and frustration. The sun came up on November 5^th, I saw it.

I am proud of what I did for the past three years. I am proud of all you have done. I am proud of the McCain family and am honored to count them among my friends, just as I do many of you.

So once again I offer you my most heart-felt and deepest thanks. I wish I had the time and energy to list and thank you all by name . . . I can not. Before I end however, I would like to give a special thanks to just a handful folks that went far above and beyond their call of duty . . .(there are many more, but bare with me)

Kathy Morrisson, Michael Schuyler, Brad Marston, Jeff Vath, John Barnhart, Bill Smith,

Branden Folger, Samantha Folger, Brad Hansen, Andi Card, Debra Aldinger, Yomin Postelnik, Jean Avery, Andrea Snell, Ian Droste, Sharon Caliendo, Oliver Ditch, Jonathan Tallman, and many many many many more.

More important than our own ‘feelings’ or even more important than congratulating the new President-elect is to give our advice on how our nations needs to be guided.

It is our duty as citizens, it is our obligation to our country to press on and do so. The democrats and Obama may indeed not listen, however we may still benefit our nation by speaking up.

As promised -- LGTR is still here and in the battle for conservative ideals and principles. Thank you for all your efforts getting ready for the 2008 election.

LGTR also values you, your friends and others who are in this fight and commend yours and their efforts. Starting immediately, LGTR will begin work towards taking back control of the Congress in 2010. Ronald Reagan told his supporters upon the election of Jimmy Carter, that the time would be ripe for a major change in four years because America cannot abide socialism for long and to prepare immediately. The same effect happened with the Clinton Administration who lost control of Congress.

Invite your friends to turn their present negative reactions to the election into something positive by joining this LGTR FaceBook Group http://www.facebook.com/l.php?u=http://letsgetthisright.com .

And also opening an account on the LGTR web site http://letsgetthisright.org

Also remember you can form groups on the LGTR website and start communicating and preparing for the future by addressing conservative values and principles right now.

Again . . . THANK YOU,

Sincerely,

Sheridan B Folger

2:00pm Est LIVE ELECION UPDATE. WTF!??!

BLOG: RedState: Voting twice in Philly

Why you should vote for me by Senator John MCain

"Obama vs. McCain: What the Next President Will Mean for Day Traders"

NEWS: NBC: Drama With Some Local Voting Machines

Christian Conservative election coverage

RED STATE: Suppressing the Vote in Lancaster County

VIDEO: Malkin: Billy club-wielding security guards at Philly polls

Newsbusters: Voter Asks CNN Why They Haven't Reported Black Panthers in Philly

Sheridan Folger,

Important Conf Call and Items Of The Day.

Conference Call to Discuss Why Seniors, Americans of Faith and the Business Community Should Vote McCain for President - Tonight and Mon. night at 7:3

1 or 2 Blue States McCain Could Win

The State of the Campaign

Minutes For McCain-Palin

Update on Florida Congressional Races

In addition to working on behalf of the McCain-Palin campaign, we have been working on behalf of our five endorsed candidates in Florida. Here is an update from our Florida State Political Director, Yomin Postelnik of www.insidersreview.org.

Update on Florida

Over the past few weeks, Lets Get This Right has accomplished a number of tasks on behalf of its candidates in Florida

Allen West – Are hosting a small get together for him to meet condo association officers, homeowners and voters. We attempted to arrange a sit down with small business leaders in his district but logistics got in the way.

Marion Thorpe – Several articles have been written for him, we found him a blogger to help spread them, answering calls and helping with campaign material design, volunteer coordination, arranged meeting with local leaders. When his opponent Alcee Hastings threatened his life, Lets Get This Right stood with Thorpe during the police report, wrote press releases for him, disseminated them to the press and spoke to the media. We are instrumental in organizing the get out the vote drive.

Ed Lynch – writing on his behalf (endorsed in my newsletter), attempted joint events with Thorpe and West campaigns, helping spread the word and giving him contacts

Vern Buchanan – some close interaction with his campaign manager, called three major synagogues on his behalf and offered to come out there for a day at my expense to facilitate meetings

General – Hosting a nationwide conference call giving reasons to vote for McCain

McCain Kudlow Interview - Keep Taxes Low Help the Economy

Excerpt from An Interview with Senator McCain by Larry Kudlow

McCain: Well, I try to talk about them more often. A lot of the people that come, frankly, are people that are having trouble staying in their homes, keeping their jobs, etcetera. But I think it goes back to all this business of Sen. Obama’s view of “fairness.” When Charlie Gibson said, why would you want to raise capital-gains taxes when you know it will decrease revenue? And he said in “fairness.” And he told Joe the Plumber — Joe the Plumber got the message through better, what we’ve been trying to do this whole campaign. [Obama] wants to “spread the wealth around.” That takes from the investor class. That takes money from one group of Americans and gives it to another.

Now that signal has been very clear. And I think people ought to pay attention to it, because it’s been tried before in other countries, and policies of other left-liberal administrations. It doesn’t work, and it’s bad for America. We want to encourage the investor class, and that means capital-gains and dividend taxes are low.

Kudlow: You’ve just unveiled a new tax cut on capital gains. Can you tell us about that? Because in some sense, that’s probably the most important investor class tax.

McCain: It’s the most important in many respects, Larry, and we want it low and we want it lowered. Every time — there’s one tax that there’s no argument about, that every time it’s been lowered since Jack Kennedy, we have seen an increase in revenues. Now, why anybody would argue, as Sen. Obama does, that we need to raise it, even if it’s — of course, the amount needed to raise it is varied with whatever poll he’s taken — but the point is that we want to lower it and keep it low and encourage investment, especially now in America in these difficult times.

Kudlow: But senator, what is — the current law rate is 15 percent.

McCain: Yeah, yeah.

Kudlow: You’re taking the cap-gains rate down to what?

McCain: First down to 10 percent, I would like to see it, and gradually even make it lower. Look, why should we tax people’s gains twice? Why should we tax them twice, okay? They make an investment, they should be able to get their returns on their investment. And capital gains is obviously — low capital-gains tax is probably the greatest incentive for investment that we have in America today. And so, look, I’ll be glad to listen to smart people like you, Larry, but the worst thing we can do is tell people we’re going to raise it, and that, obviously, would chill investment in America, right?