Chrysler stiffs American tax payers for $7 Billion

Chrysler won't repay bailout money

An administration official confirms that a $4 billion bridge loan and $3.2 billion in bankruptcy financing won't be paid back by Chrysler following bankruptcy.

Well no surprise there really is there?

I have a better idea: Boycott Government Motors

I ran across this article: Liberals, Get Patriotic and Ditch the Volvo

It looks like we'll have domestic car companies to kick around for a while longer. So here's a modest proposal for liberal Democrats: At least think about buying American.

I have seen this Obama quote in several articles and it chaps my ass each time.

On Thursday, announcing the Chrysler bankruptcy, the president made an explicit request. "If you are considering buying a car," he said, "I hope it will be an American car. "

So I have a better idea. Real conservatives who detest this unconstitutional bailout of the automakers should boycott GM and Chrysler. That's right make them fail by refusing to buy the garbage they produce. If you want to buy an American car you can look through this list:

Non Big 3 automakers with manufacturing operations in United States

Just a stones throw from me you can find the locally built Toyota Tundra, Sienna, Sequoia, Camry, Solara, Venza, Avalon, and Highlander. Those are American made cars there Mr President. Maybe by American made what he meant to say was UAW made.

Thats about right

Obama to Secured Creditors: Drop Dead

The fate of Chrysler and its workers pale in comparison to the wrecking ball that would be taken to economic order if bankruptcy judge Arthur Gonzalez approves the administration’s plan to give Chrysler’s secured creditors the shaft. And what prize will we-the-people get in return? A doomed third-rate car company majority owned by its militant union run by Italian management building congressionally designed “green” cars no one wants to buy financed by taxpayers into perpetuity because no private investor in their right mind will touch the company with a ten foot pole. Is this supposed to be economic policy or comic opera?

The strategy will work better after Obama starts putting the squeeze on the oil companies to drive up gas prices again. Otherwise is anybody really going to buy a crappy green car from GM or Chrysler/Fiat?

Nail in the coffin of GM and Chrysler

UAW and Obama Motors will own GM and Chrysler. Its not rocket science to see that our govt cannot run anything and that the UAW has been sucking the life out of the Big 3 forever.

I like how Obama blasts hedge funds as Chrysler files for bankruptcy for simply trying to collect as much money possible for their shareholders from the loans. Apparently it is wrong somehow to collect what you are owed. The investors are going to be soaked not once but twice as they get back very little of their investment and then see their tax dollars wasted to support the automakers.

Can't wait to see who GM and Chrysler borrow from next after this move. UAW better enjoy the govt tit while they can because I think the next President will no longer deem them too big to fail.

DIY Auto upgrade failures

I was looking at the New York auto show pics over at http://jalopnik.com/ when I ran across this post: 30 Epic Do-It-Yourself Automotive Fabrication Failures

More pics at the link but here is a sample:

Chrysler jobs bank over for now?

Chrysler jobs bank ends Monday

The controversial jobs bank -- a program that allowed UAW workers to receive pay while not working -- ends Monday at Chrysler, the union has told its members.
Advertisement

In a letter obtained by the Free Press, General Holiefield, the UAW's vice president of the Chrysler department, told members that the change was to comply with the terms of the federal loan agreement that gave Chrysler $4 billion to stay afloat.

"Without this loan, the corporation would most certainly" have "been forced to file for bankruptcy protection," he wrote in the letter dated Thursday.

"In order to be in compliance with the mandate, the jobs bank will be eliminated effective Jan. 26," he added. "Employees that are either in the jobs bank or would have been in the bank will be placed on unemployment ... until such time that we have a clarification of all of the stipulations ... in the 'terms of agreement.' "

Chrysler told employees in a letter Friday that workers now in the jobs bank would be placed on "enhanced layoff," effective Monday, until a final agreement has been reached with the UAW.

Workers going into enhanced layoff were advised to apply for jobless benefits and told they will keep medical, dental and group life insurance during that time.

Holiefield advised members that the changes are temporary until negotiations are completed.

"It is important that everyone understand that these provisions will only be in effect until such time as the mandates from the U.S. Treasury Department have been clarified," he wrote.

So its not over til it over or?

OMG I won't get paid to not work anymore?

UAW members in 'jobs bank' lose options

Members fear it is the beginning of the end for the whole Jobs Bank program that pays workers when there is no work.

Happy New Year dickheads but on the bright side you still get your discount at the UAW golf course your dues paid for.

Q&A with Henry Waxman via NYT

Do you drive a hybrid car?

No. I have a 2002 Toyota Camry.

I’m surprised you don’t drive an American car.

This car was made in Kentucky by Toyota. The last time I bought an American car, they had to ship it in from Canada.

Questions for Henry Waxman

Guess that answers my question on the jobs bank

UAW to ask Obama to remove 'unfair' labor rules

The UAW today said it is pleased that the Bush administration approved bridge loans to prop up General Motors Corp. and Chrysler during the economic downturn but is concerned that the restructuring conditions outlined in the terms of the loan unfairly single out hourly workers, and said it will work with the Obama administration to remove conditions it views as unfair.

So basically Bush helps the Big 3 limp along until Obama comes in and then its back to business as usual in Detroit. Meanwhile the UAW thinks by changing voting rules they have a chance to break into the nonunion automakers that are kicking the Big 3's ass. Thing is those that work at Toyota don't want any part of the UAW so good luck with that.

Big 3 bailout...on the bright side

The UAW "jobs bank" will be history.

Auto Makers to Get $17.4 Billion

The White House announced a $17.4 billion rescue package for the troubled Detroit auto makers that allows them to avoid bankruptcy and leaves many of the big decisions for the incoming Obama administration.

So does this mean the next administration can change the rules of this bailout?

A glimmer of hope

White House considers 'orderly' bankruptcy for auto companies

A very small glimmer of hope.

But alas...

The White House mention of bankruptcy, orderly or otherwise, was not welcomed by many in the industry. There is widespread fear potential buyers will abandon any automaker that files for bankruptcy protection due to worries about vehicle resale values, warranty support and parts availability.

"Bankruptcy, structured or not, would destroy demand for that company's vehicles and put dealers out of business," said Annette Sykora, chairman of the National Automobile Dealers Association.

Really?

Big 3 bankruptcy wouldn't make shoppers avoid U.S. cars

Next excuse please.

Of course the real reason they want a bailout instead is because chapter 11 would allow renegotiation of UAW contracts and shedding of some useless dealerships.

The economic Civil War?

"...and so the war came."

Velociman skewers "The economic Civil War: The South's attempt to kill the North's auto industry is the latest battle in an ongoing conflict. It's time for a Third Reconstruction to put an end to it. By Michael Lind"

Obviously Mr Lind needs to travel more and perhaps try to pull his head out of his yankee ass.

I still say a Tundra or Camry is more an American car than any pile of shit the UAW currently assembles.

UAW 1 White House 0

Administration unwilling to see automakers fail

Its official now after 8 years of supporting you between the Wall Street bailout that we will never see again and the now Big 3/UAW bailout you make me fucking sick. You couldn't let it ride until Obama came in office? Its 40 days they would have to wait WTF?

Meanwhile:

UAW lashes out at senators in Southern states with foreign car plants after auto aid bill dies

Their top targets were Senate Minority Leader Mitch McConnell, R-Ky.; Sen. Bob Corker, R-Tenn., who led negotiations on a compromise; and Sen. Richard Shelby, R-Ala., who has been a vocal critic of the loans.

Kentucky, Tennessee and Alabama all house auto assembly plants from foreign automakers, and union officials contend the senators want to drive UAW wages down so there would be no reason for workers at the foreign plants to join the union.

"They thought perhaps they could have a twofer here maybe: Pierce the heart of organized labor while representing the foreign brands," UAW President Ron Gettelfinger said at a Friday morning news conference in Detroit.

That is the most pathetic thing I have ever heard. I have friends and family that work at Toyota of Georgetown KY and Toyota of Princeton IN and none of them want any part of your crooked UAW. They make more than their Big 3 counterparts without dumping money into the UAW coffers.

Toyota could crush the Big 3 and I wish they would just go on and do it. They also seem forget that KY has a GM plant in Bowling Green and a Ford plant in Louisville. Just tour the Corvette factory and you will quickly see why GM cannot compete with Toyota.

Thanks for nothing W

White House readies new rescue for auto industry

At a news conference on Friday, UAW President Ron Gettelfinger accused GOP senators who blocked emergency loans of trying to "pierce the heart" of organized labor.

As much as the UAW function like a vampire sucking the life out of the Big 3 my preferred method of destruction would be to ...

Sen. Bob Corker, R-Tenn., who played a leading role for Republicans, told reporters at the Capitol that the talks came close to success but failed when the UAW refused to commit to lowering its pay-and-benefits package in 2009 so it would be "at parity" with the Japanese companies.

He also laid blame at the feet of the administration. "I think it being known that the White House at the end of the day would probably blink probably helped keep us from a deal," he said.

You think?

Of course the UAW didn't budge since they knew the Bush administration was going to cave. They only have to make until Jan 21st when Obama is sure to give the UAW/Big 3 whatever they ask for get some stones W.

Maybe we need someone else to deal with the UAW and Big 3 management.

Middle East car dealerships order 15,000 Toyota Sequoia SUVs

Toyota plant lands $675 million contract

A Christmas angel has shined on Toyota Motor Manufacturing Indiana (TMMI) big time, to the tune of an overseas order for 15,000 Sequoia SUVs.

The order, for car dealerships in the Middle East, totals between $650 million to $750 million.

Kelly Dillon, Toyota's manager of public affairs and purchasing, confirmed the order.

She said officials of Gulf Coast Cooperative, which represents six of the nine different independent auto companies in the countries wanting the vehicles, recently visited the Toyota operation in Gibson County to assess the quality of the Sequoia.

I can't imagine why they would choose the Toyota over something from the Big 3.

New UAW PR Campaign

h/t Boing Boing

Kentucky automobile dealers were surprised, confused and saddened

Ky. auto dealers disappointed by McConnell's opposition to bailout

The majority of Americans oppose the bailout and he knows most of us are still angry over the Wall Street bailout. What is so difficult to understand here?

I love reading comments on that website my state is so full of union assclowns.

The union would not budge as usual because they are only in the business of taking. Lets see how well they do when GM files chapter 11.

By the way Toyota has a plant in KY and IN and I consider those cars more American than the garbage that the Little 3 now peddle.

Its over for the Big 3 "Car Czar" to be named

If there ever was a sure fire way to ensure the problem will never be solved its to appoint a "czar".

Pelosi: "car czar" could be named this week, Volcker eyed

If you think GM management does a piss poor job just wait til Washington starts calling the shots. Glad I own a Toyota.

Sen Dodd calls for GM CEO Rick Wagoner to resign

Key senator calls for GM head to step down

An influential senator drafting a multibillion-dollar bailout for Detroit's Big Three automakers said Sunday that the head of General Motors should step down, while President-elect Barack Obama accused car industry executives of a persistent "head-in-the sand approach" to long-festering problems.

Sen. Chris Dodd, D-Conn., chairman of the Banking Committee, said GM CEO Rick Wagoner "has to move on" as part of a government-run restructuring that should be a condition of financial life support for the auto industry.

"I think you have got to consider new leadership," Dodd said on CBS' "Face the Nation."

Head in that sand like you guys watching Fannie and Freddie crash and burn? How about you resign first Senator Dodd.

Barney speaks and you missed nothing

Frank: 'To do nothing would be a disaster'

Allowing the U.S. automakers to declare bankruptcy would worsen the credit crisis, Rep. Barney Frank, D-Mass., said Friday during an auto bailout hearing.

If the the Big Three Detroit automakers are permitted to "stop paying their debts" through bankruptcy, "it would greatly exacerbate the credit crisis," Frank said in his opening remarks at the House Financial Services Committee hearing.

"For us to do nothing ... in the midst of the worst credit crisis and unemployment situation in the last 70 years would be a disaster, said Frank, who is chairman of the committee.

But if the govt bails them out guess who just payed their debts?

Ranking minority member Rep. Spencer Bachus of Alabama said the financial crisis has overwhelmed "the reality ... that Detroit is making good cars."

U.S. automakers must not be allowed to fail because it would have a detrimental effect on the economy, Bachus said.

"Having said that," he said. "the No. 1 obligation is to the taxpayers. Government has no money of its own. In order to give ... it has to take."

Well at least Bachus remembers that much. Maybe they just write over every urinal in the capital building.