What makes this story so interesting, I think, is the fact that the editorial board of the Washington Post now, all of a sudden, thinks that the ending of ethanol subsidies is a good thing.
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One may question his math (as some of my more critical readers have done), but the point remains: People spending their own money are making decisions NOT to buy the Chevy Volt, but rather the Prius. Isn’t that something? People – not government – are making the best decisions for themselves when they use their own money. What a concept.
This is a lock. GM stock is going to drop further. How can it possibly go up (except intra-day, thanks to day-traders)? Bad fundamentals, poor management, onerous union rules, government interference, rising gas prices, and the government about to sell some or all of its 500 million shares. Who would buy GM? It’s a lock to decline further, hurting taxpayers and investors once again.
He’s also corrupt and lost and completely without any visible indication of integrity or character. He is, in other words, the perfect politician. No morals, no scruples, no internal discipline to stand in the way of “doing the right thing” as he sees it. Some people support him because “anybody” would be better than Obama. Wanna bet?
With the old General Motors successfully selling shares in its new General Motors at $33 per share, taxpayers will allegedly be getting back part of the $50 billion in bailout money used to rescue the company 17 months ago.
Now that the Chevy Volt, General Motors’ electric car, is about to arrive in selected dealers’ showrooms around the country, it has been getting a lot of press. Some are puff pieces, one of which appeared in USA Today, while others are much more critical.
This was a much different message from that delivered by his predecessor, GM CEO Ed Whitacre, back in March when he announced in a series of TV ads:
And it’s not just California. Orin Kramer of New Jersey’s pension program estimates a national funding gap among all the states of around $2 trillion. The Center on Budget and Policy Priorities, a Washington research institution, announced that “finances in Arizona, New Jersey, New York and other states show few signs of improvement. Forty-six states face budget shortfalls that add up to $112 billion for the fiscal year ending next June .” The May/June issue of Chief Executive magazine published its annual “Best and Worst States for Business 2010” and gave its “booby” prize for worst state to California, with New York, Michigan, New Jersey, and Massachusetts rounding out the bottom five.
I got more feedback, both positive and negative, on this article, than any I’ve written! The Left thinks Ocare is wonderful, just what we need, whether we know it or not. The Right is dismayed over the cramdown effected by Pelosi and her Marxist henchmen.
I received feedback on this column that my facts weren’t exactly correct about the amount taxpayers were on the hook for with Citigroup. I don’t know that the amount being correct or not is important. The key point of the article was to illustrate the extraordinary illicit power Citigroup, and other banks, have over the Treasury Department. But I always appreciate the feedback.