The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
AUTO BAILOUT BOMBSHELL: Fiat Says Chrysler, Jeep Production May Move to Italy Submitted by Mark Modica on Tue, 10/29/2012 - 10:53
Coming hot on the heels of speculation that some Jeep production may be moved to China comes a bombshell from a Bloomberg report. Fiat is now considering moving Chrysler and Jeep production to Italy.
According to the piece, "To counter the severe slump in European sales, (Fiat CEO Sergio) Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said."
So, let's be real clear here, we are talking about vehicles that will be built in Italy and exported to America. The evidence is clear that Fiat is looking at ways to move production of vehicles from the US to elsewhere, whether it be China or Italy, costing American jobs. This is becoming indisputable, despite outcries from certain parties to the contrary. Mitt Romney has rightfully criticized the Obama Administration for handing over Chrysler to the Italians and now leaving the fate of American workers in the hands of Fiat management. Fiat is not a healthy company and the auto industry is in as great a risk as ever. The insistence that all is well by those with political motivations does not mask the danger. More jobs are at risk of being lost and more taxpayer money may be lost as well. Let's face it, the auto bailouts were not well thought out. Perhaps General Motors' CEO, Dan Akerson, said it best when he said, "The good thing about our bankruptcy is that it took only 39 days. The bad news is that bankruptcy took only 39 days. If we had been there longer, people would have asked these questions and looked at these things." The whole auto industry bailout process was rushed through with the wrong primary motivation of protecting the politically powerful UAW's interests. The Obama Administration never considered that giving Chrysler to Fiat was not a great idea and could eventually hurt the same UAW workers it was trying to protect. Manufacturers like Chrysler and GM are at a competitive disadvantage due to UAW obligations that were not properly addressed in the bankruptcy process. The industry is more competitive than ever and the government does not seem to be the best innovators to lead the sector to real health. This truth is very likely to become more apparent when the political season ends.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Trickle-down tax-cut theory disowned by most, but not Romney
“Trickle-down” is the theory proposing that fiscal policies favoring the very rich will grow a robust economy benefi ting everyone. Reagan’s 23 percent tax cuts and Bush’s 10 percent with reductions in capital gains and dividend taxes were examples of tax cuts that favor the rich. Mark Zandi, chief economist at Moody’s and former McCain adviser in 2008, has determined that across-theboard tax cuts deliver little in the effort to stimulate growth in the economy Specifically, he found the tax cut with the best economic bang for the buck came from payroll tax cuts for wage earners, while one of the worst was the across-the-board cut. Mr. Zandi stipulated that all tax cuts should be temporary to avoid burdening the nation with long-term fi scal defi - cits. Spending stimuli, by defi nition, are temporary (food stamps and unemployment insurance extension), and are up to six times better than tax cuts. Reagan’s economic adviser, David Stockman, recently trashed trickledown economics, revealing it was just a gimmick with no economic merit that Reagan used to force Congress to stop funding social programs by “starving the beast.” He had to raise taxes soon afterward to balance the budget and pay for his Cold War arms race. Bush never corrected his trickledown mistake (now 11 years old) and we are still paying for it. Not to be outdone, Romney is determined to repeat the mistakes of the Bush tax cuts with his own 20 percent across-the-board tax cut, but has been unable to get confi rmation from the IRS (Tax Policy Center) because revenue neutrality would be mathematically impossible without other revenue. It is unconscionable if Romney, by deliberately misinforming us, is waging class warfare against those who trust him.
Karen Cookson’s Oct. 12 Viewpoint about the candidates and women was inaccurate. Romney had the best record for [hiring] women during his tenure as governor of Massachusetts, according to a SUNY Albany study published in 2004. So the statement that Republicans (mostly) “would love it if we would all just shut up and get back to the kitchen where we belong” doesn’t apply. What happened to the smart lawyer who married Mr. Obama? Her license to practice law is inactive. She goes around telling us about the greatness of her husband, is famous for her frugal clothesshopping habits and good looks, and is in charge of tending the White House garden, planning nutritional and healthy meals, and making sure the kids are sitting at the dinner table.
Mitt Romney Then: Asked by moderator John King of CNN whether that would include disaster relief, Romney said: "It is simply immoral, in my view, for us to continue to rack up larger and larger debts and pass them on to our kids."
Mitt Romney Now: "I believe that FEMA plays a key role in working with states and localities to prepare for and respond to natural disasters."
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
As his campaign implodes with LIES, Mitt Romney starts his Kamikaze Strategy in a last ditch campaign of desperation:
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
"G.M. and Chrysler reported that U.S. sales of their automobiles for October were the highest for the month in the past five years. Meanwhile, Ford reported October U.S. sales flat from a year ago though small car sales were up 54 percent, the highest in 11 years. "
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
General Motors reported its third-quarter earnings today, and while revenues were up in the three-month period, overall profits were down 14 percent compared to last year. GM's Q3 net revenue was $37.6 billion (almost $1 billion more than 2011), but its net income was $1.5 billion, down from $1.7 billion last year. This is the opposite trend from Chrysler and Ford, which were both up considerably.
According to Automotive News, GM's lower profit came from a combination between the flailing European car market and the increased production of small cars. Losses in Europe grew from $292 million in Q3 2011 to $478 million in Q3 2012, and since 1999, GM has lost more than $17 billion in this market. Also, with new cars like the Chevy Sonic and Spark growing in popularity, these smaller cars have less of a profit margin than GM's SUV cash cows, but the improvements in small cars is helping in markets such as South America.
The South American market has recovered from previous losses to give GM a $114 million profit last quarter, and these numbers are expected to continue climbing thanks to new vehicles like the all-new Chevrolet Onix unveiled last week at the São Paulo Motor Show in Brazil. Another bright spot for GM was that its pension liability dropped by $29 billion thanks to about 30 percent of salaried retirees in the US accepting a lump-sum payment; both figures are higher than GM initially expected. Show full PR text GM Reports Third Quarter Net Income of $1.5 billion as EBIT-adjusted increases to $2.3 billion 2012-10-31
What a f**king joke... What don't you ask them if they blame their parents for being born??... Bunch of F'iing hypcrites using their Chinese made Iphones, on the Military developed Internet. These are the same kids that whine about having to walk more than a 100 feet to get their school bus, fueled by those evil Oil companies that pollute the air.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
General Motors reported its third-quarter earnings today, and while revenues were up in the three-month period, overall profits were down 14 percent compared to last year. GM's Q3 net revenue was $37.6 billion (almost $1 billion more than 2011), but its net income was $1.5 billion, down from $1.7 billion last year. This is the opposite trend from Chrysler and Ford, which were both up considerably.
According to Automotive News, GM's lower profit came from a combination between the flailing European car market and the increased production of small cars. Losses in Europe grew from $292 million in Q3 2011 to $478 million in Q3 2012, and since 1999, GM has lost more than $17 billion in this market. Also, with new cars like the Chevy Sonic and Spark growing in popularity, these smaller cars have less of a profit margin than GM's SUV cash cows, but the improvements in small cars is helping in markets such as South America.
The South American market has recovered from previous losses to give GM a $114 million profit last quarter, and these numbers are expected to continue climbing thanks to new vehicles like the all-new Chevrolet Onix unveiled last week at the São Paulo Motor Show in Brazil. Another bright spot for GM was that its pension liability dropped by $29 billion thanks to about 30 percent of salaried retirees in the US accepting a lump-sum payment; both figures are higher than GM initially expected. Show full PR text GM Reports Third Quarter Net Income of $1.5 billion as EBIT-adjusted increases to $2.3 billion 2012-10-31
And of course, GM losses are not showing details of how much they have lost to date and continue to lose onthe Chevy Volt...staggering figure per car...and they have the balls to justify it as long term strategy! And their profits are down becuase their huge margins are not there any more...they have to be more realistic with what they get for margin compared to the unbelieveable margins of past.
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
General Motors reported its third-quarter earnings today, and while revenues were up in the three-month period, overall profits were down 14 percent compared to last year. .
Profits are bad. So this is positive news. At least people are getting paid working in the factory's assembling a product that is losing money. It's the Soviet business model.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
and don't victimize me by using bush or any other numbnut politician, including Obama(because he IS in that group) to validate my question....don't talk to me about the haves and have nots....
tell me the ACTUAL VALUE OF THE TAXES WE PAY....
SHOW ME THE $$ TRAIL
BOTH PARTIES PRETEND TO CARE....IT'S BULLSH!T!!!!!
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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