COLLECTIVE MADNESS


“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."

Saturday, February 14, 2009

"What is good for General Motors is good for America." - Possible Bankruptcy



GM simply cannot build enough cars to get itself out of the mess it is in. If GM goes down, Chrysler and Ford will have no choice but to follow. There will be a cascade of suppliers and service businesses who will have to reorganize.

The government will take over the legacy pension obligations. More pressure will be put on housing and employment. The downward spiral will continue.
_____________________

GM considering Chapter 11 filing, new company: report
Sat Feb 14, 2009

CHICAGO (Reuters) - General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition.

"One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked."

Citing "people familiar with the matter," the story said that GM could also ask for additional government funds to stave off a bankruptcy filing.

GM declined to comment, the story said.

General Motors and Chrysler LLC face a Tuesday deadline to file restructuring plans to the government in exchange for receiving $17.4 billion in federal loans.

Automakers have struggled as U.S. auto sales have tumbled amid a recessionary economy. U.S. auto sales in January tumbled to a 27-year low.

GM has been in talks with bondholders and the United Auto Workers union to get an agreement on a restructuring that would wipe out about $28 billion in debt for the auto maker, sources have told Reuters. However, it appears unlikely a deal could be reached by the Tuesday deadline, they said.

GM has already announced plans to cut 10,000 salaried workers worldwide, or 14 percent of its staff, impose pay cuts for most remaining white-collar U.S. workers and has offered buyouts to its 62,000 U.S. workers represented by the UAW.

In addition, it is trying to sell its Hummer SUV and Swedish Saab brands and is reviewing the status of its Saturn brand.


(Editing by Eric Walsh)


Comrades, what is next?


This is a calamity. 
This  is not stimulus. 
This is out of control government spending. 

How do you spell flight capital?

Why would anyone with a brain invest  into this? 
Why would any sensible person not do everything to protect what capital they have left to avoid the tax burden that will fall on all US citizens? 

This bill is a transfer payment to labor and government unions.

Feel the tingle?
___________________________

Winners and losers in the final stimulus bill

WASHINGTON (CNN) -- Here is a breakdown of who gained, who lost and who survived in the final economic stimulus bill that the House and Senate are expected to vote on Friday:


Amtrak gaines funding in the compromise version of the economic stimulus bill.

Winners

High-speed and inner-city rail: Went from $300 million in House bill to $2.25 billion in Senate to $8 billion in final version. There also is a $6.9 billion provision for public transit.

Amtrak: Picked up $500 million from both House and Senate versions to total $1.3 billion. The bill stipulates that no more than 60 percent can go to the Northeast Corridor.

National Institutes of Health: Ends up with $10 billion in the final bill. The House proposed $3.5 billion and the Senate wanted $10 billion -- $8.2 billion goes to the NIH director for his discretion.

Government oversight: Board to oversee stimulus bill spending will get $84 million to do the job. House bill allocated $14 million while the Senate bill called for $7 million. There is also more than $100 million more for various inspectors general in different agencies.

NASA: Banked just more than $2 billion, including $400,000 for science/global-warming research. Watch congressional comments on the stimulus bill »



Losers

Veterans: Nearly all items for Veterans Affairs were reduced and the $2 billion the Senate wanted for VA construction was wiped out altogether. The VA did get one thing: $1 billion for medical facilities renovation and retooling.

Military construction: Cut and put into a general pot, a change from targeted money for each branch of the services. Army construction alone went from $600 million in the Senate and $900 million in the House to $180 million in the final bill. But negotiators compromised over a general military construction fund -- the House wanted $3.75 billion while the Senate allocated $118 million and settled on $1.45 billion for all services.

FBI: Senate had allocated $475 million but all was cut out of final bill.

Survivors

Pandemic flu research: Although senators agreed it wouldn't produce jobs, it's getting $50 million in the final bill, down from nearly $900 million. Watch the latest on the stimulus bill »
Damage control

Foreclosures: $2 billion is set for a neighborhood stabilization program that helps areas plagued with foreclosures by buying back properties and preventing blight.

Homeless: $1.5 billion is directed to homelessness prevention.

Passports: $90 million is going to the State Department to deal with domestic facilities that deal with passports and training.
Social Security: $500 million goes to replace its 30-year-old computer system.

Tax breaks

Car buyers: Anyone who buys a new car in 2009 gets to deduct the sales tax. To qualify, buyer must make less than $125,000 individually or $250,000 jointly. Cost is $1.7 billion.

Homebuyers: First-time homebuyers who purchase this calendar year get an $8,000 tax credit which does not have to be repaid like a similar measure last year. This phases out for people making more than $75,000 individually or $150,000 jointly. "First-time homebuyer" is defined as someone who has not owned a home for the past three years. Cost: $6.63 billion.

Paying for college

Pell grants: will increase to a maximum of $5,350 per student in 2009-2010 year thanks to two provisions in the stimulus.

Tax credits: Individuals making less than $80,000 or families making less than $160,000 can get up to $2,500 in tax credits for college tuition. 40 percent ($1,000) of the credit is refundable. Cost: $13.9 billion over 10 years.


Making work pay

Tax credits: Anyone making $75,000 individually or $150,000 as a family will get refundable tax credit up to $400 per person or $800 per family.



Friday, February 13, 2009

Potty Trick Goes Bad


'Family values do not stop at the Rio Grande River'


Well of course that is a real working ranch truck.

Family values do not stop at the Rio Grande River. Well I guess that depends on which side of the border that you happen to reside.

I would have thought that family values would imply that you value your own family. One of the primal duties of a man is to protect his family and property, especially when those who are sworn to enforce the law, do not.

Here is an outrage about a real rancher, Roger Barnett, that did the right thing to protect his own. His government under the leadership of another so-called rancher, George W. Bush, did not protect the rights of Citizen Barnett.

Which is the real man?

______________________


Deported for drugs, illegal sues rancher
Jerry Seper (Washington Times)
Friday, February 13, 2009

One of the 16 illegal immigrants allowed by a federal court to sue an Arizona rancher for stopping them at gunpoint after they sneaked across the U.S.-Mexico border is a convicted felon deported from this country after a 1993 arrest by U.S. authorities on drug charges, court records show.

Gerardo Gonzalez, described in a lawsuit brought by the Mexican American Legal Defense and Education Fund (MALDEF) as a 38-year-old Mexican citizen, was convicted in September 1993 for possession of a controlled substance for sale and ordered deported to his home country.

Gonzalez, whose illegal re-entry after removal under U.S. law would be another felony, is among five women and 11 men detained by Roger Barnett, owner of the Cross Rail Ranch near Douglas, Ariz.

The trial against Mr. Barnett on charges of civil rights violations began last week before U.S. District Court Judge John M. Roll in Tucson and is expected to conclude Friday.

Asked about Gonzalez, MALDEF spokeswoman Laura Rodriguez in Los Angeles said Thursday night that a gag order had been issued in the case and she could not comment.

MALDEF had sought Jan. 6 to preclude questioning, testimony or evidence regarding Gonzalez´s drug conviction and his removal from the U.S., saying it was "irrelevant to the factual and legal issues at hand and extremely prejudicial."

Attorney Victor A. Rodriquez also sought to exclude at trial the numerous photographs and a videotape depicting vandalism and the transportation of illegal drugs through the Barnetts´ ranch. He said the photos and video did not involve any of the plaintiffs in this case.

On Jan. 8, Judge Roll denied both motions.

The lawsuit seeks $32 million for civil rights violations, the infliction of emotional distress and other accusations - $1 million actual damages and $1 million punitive damages for each of the illegal immigrants.

Also named are Mr. Barnett's wife, Barbara, his brother, Donald, and Larry Dever, the sheriff in Cochise County, Ariz., where the Barnetts live. The trial is based on a March 7, 2004, incident in which Mr. Barnett approached a group of illegal immigrants while carrying a gun and accompanied by his dog.

The lawsuit said the Barnetts "engaged in a private campaign and have conspired with each other and others to 'hunt' and detain against their will, and at gunpoint, Latino migrants or presumed migrants such as plaintiffs."

It also said Mr. Barnett committed assault and battery, falsely arrested and imprisoned the 16 illegal immigrants, acted negligently, inflicted emotional distress and "engaged in a conspiracy to deprive plaintiffs of their civil rights."

But in a statement of facts filed with the court, Mr. Barnett's attorney, David T. Hardy, said his client's 22,000-acre ranch is frequently crossed by illegal immigrants and drug smugglers and that Mr. Barnett was checking for damages when his dog started barking and ran off into the desert. He said Mr. Barnett followed the dog and came across a large group of people "apparently trying to hide."

"Since drug smugglers are frequently armed, I drew my handgun," Mr. Barnett said in an April 18, 2007, deposition. "I holstered it after assuring myself they were not armed. I then called Border Patrol on my cell phone, and my wife, Barbara, on my radio, and waited until Border Patrol arrived and took them into custody."

A March 2007 deposition of Border Patrol agent Manuel Rodriquez found that after agents ran a records check of those detained on the Barnett ranch, other members of the party had made prior attempts at illegal entry.

Mrs. Barnett said during an April 2007 deposition that her husband would not have seen the 16 illegal immigrants had it not been for the dog.

"If the dog hadn't gotten out and started barking, we would have never known they were there," she said.

In a 2002 interview with The Washington Times, Mr. Barnett, now 64, said he first started to notice tracks and trash on his ranch in 1998, and learned later that his property had become a major route for illegal immigrants headed out of Mexico and for northbound drug smugglers.

The ranch sits in what Cochise County, Ariz., law enforcement authorities call "the avenue of choice" for illegal immigration.

"Thousands of aliens have crossed my property," Mr. Barnett said during the interview. "There are so many that I can tell you that at times it looks like a slow-motion invasion. Literally, I feel like the guy with his finger in the dike, and I just don´t think I can hold back the flood."

He said intruders on his ranch tore up water pumps, killed calves, destroyed fences and gates, stole trucks and broke into his home. Some of his cattle have died from ingesting the plastic bottles left behind by the immigrants, he said, adding that he installed a faucet on an 8,000-gallon water tank so the immigrants would stop damaging the tank to get water.




Thursday, February 12, 2009

Obama Needs to Get Off Air Force One and Get to Work




If Obama is not smoking two packs a day...




He should be.

He is clearly clueless as to what to do about the economy. It is an amazing set of events that put him on Air Force One. Maybe he can pull it off, most likely not. So far , it does not look good at all. 

His program is totally lacking in imagination, change or daring.  It is a dreary combination of the doctrinaria of the left.

He is a smart college professor and community organiser and he thinks he can use those skills to staff an administration with the best and the brightest. That ticket will get punched out in short time. People will tolerate more in good times than in bad. His start has been mediocre and uninspiring and that from what seemed to be a masterful campaign.

Had the opening weeks of this administration been done under a Republican, the press would be howling with scorn and the late night talk shows suffering from indigestion with the heap of material available for parody.

With an increasing volatility his era of good feelings half-life will dissolve to powder. Yikes.


Bill Clinton Just Needs a Little Love from Hillary



Wednesday, February 11, 2009

Chinese Solution for Dealing with Errant CEO's




Former chairman of Chinese company sentenced to death

Report
By V. Phani Kumar
Feb. 10, 2009

HONG KONG (MarketWatch) -- A Chinese court has handed a death sentence to Li Peiying, a former chairman of Capital Airports Holding Co., for bribery and embezzlement of more than 100 million yuan ($14.6 million), according to a state media report. Li was given the sentence by the Jinan Intermediate People's Court in Shandong province in eastern China, after he was found guilty of seeking or accepting bribes for 26.61 million yuan while he was in office from 1995 to 2003, Xinhua reported. Li also misappropriated 82.5 million yuan from 2000 to 2003, according to the court, the report added