reality chk

Are the Banks Telling Us the Truth?

The banks and scheme financial institutions have Never told the truth about anything.
They state, they overstate, they understate and then the smoke and mirrors apear just like magic.

Will the U.S. Start a Car Scrapping Incentive Program?

Your information is partialy corect. The foreign (transplants) use a combination of imported and domestic parts in all assembly operations. NA content average is about 40% industrywide. Duplicate models are imported as well as assembled here to make up the volume and capacity gaps. This alone does not make them American. On the other hand, parts and assemblies are sent to Canada and Mexico for final assembly by the domestic auto makers. in this case NA content is well over 70% .
Remember for every person at the assembly plant there are 16 at stamping , powertrain, components, and supplier plants.
Did you forget to mention the models that are nearly 100% American? like the Malibu, the Aura, the G-6, the Cobalt, the G-5, the Tahoe, the Suburban, the CTS, the STS, the SRX, 3 Buick models, the Outlook, the Acadia, the Traverse, the entire GMC line, and that is just GM. I can go on for hours , did you forget that there are 3 assembly plant in the US that build the Silverado (Ft wayne, Pontiac, Flint)
the only one in Canada is closing next month ( engines, transmisions and bodys are made in the US for final assembly in Oshawa) .
Showing partial data will send a partially corect mesage.



On Apr 16 11:59 AM jthorner wrote:

> Many people don't realize that popular "American" cars like the Ford
> Fusion are made in Mexico, while the majority of "Japanese" Accords
> and Civics are made in the US. Chevy Impala: Canada, Chevy Aveo:
> Korea, Chevrolet Equinox: Chinese engine & Canadian assembly,
> Chevy Silverado: US, Canada and Mexico, Hyundai Sonata: US.
>
> Keeping track of which vehicles on the lot qualify for a "US assembled"
> rebate would be a very interesting exercise.
>
>
>

Will the U.S. Start a Car Scrapping Incentive Program?

As consumers we expect reliability and durability from the vehicles we buy. In fact that is one major selling point from most manufacturers.
Today it is not unusal for a car or truck to run well and service the need for 10, 12 or more years. Most of us have the Sunday car, but we also have the work car. My son just recently traded a 96 Chevy Berreta with 346,000 miles on a new Cobalt. I drive a 2002 GMC Sierra with 119,000 miles I don't plan to replace it anytime soon. It's like new. My youngest son drives a 2000 Chevy Suburban with 143,000 miles It's also like new. My dad at 79 just traded a 97 Buick Lesabre with 166,000 miles that was like new for a new Malibu. Why add another expense if it is not absolutely needed.
After all for years we presured the auto manufacturers to make cars and trucks that last.
Now we want the economy to grow and we are looking to the Auto industry.
Yep!!! this is the same Auto industry we beat on for years about quality , reliability, durability.
OK !!! Mr. Consumer Now you got Quality, Reliablity, and Durability. So what is the problem?
The problem is YOU! the consumer who has chased nearly every good paying manufacturing job out of this country by buying strickly on price and never cared about the where made labels. After years of buying imports and turning our backs on the domestics now we want the domestics to help us recover.
Clearly the remaining domestic Auto industry can not support the growth needed for this country to recover as in past recesion cycles.
WE NEED MANUFACTURING BACK. to manufacture consumer electronics, appliances, clothing, shoes, furniture, tools, machines, and all the other things we continue to buy....
History tells us that strong manufacturing has been to key indicator for every growth cycle. Now the only thing we make in this country is fast food and creative bank schemes.

Treasury Directs GM to Get Ready for Bankruptcy

What is truly amazing, is the involvement and vigor of the Obama administration to " FIX " the auto industry. In the absence of a national industrial policy, the treasury and the Obama administration are running with wide open throttle in uncharted teritory. GM is not the only company facing extremely dificult times in the curent economic situation where the suffering is a global monster. GM can restructure and work out the details with it's creditors and come out of this in a winning position given time and the ability to self manage. Perhaps recent history may lead people to think otherwise, however, taking over all the company's decisions is not what the government is all about, especialy when to this date the MO has been "hands off the private sector".
Yes! GM applied for and was granted loans funded by the taxpayer.
Does this mean that as a Taxpayer I now make the decisions on GM's direction?
Bankrupsy proceedings are never as easy as some of the recent reports make it out to be. What creditor gets to go after the good GM and witch ones get stuck with the bad GM. Settling the question of assets is not as easy as good GM/ bad GM. The curent structure has GM factories such as Assembly plant making cars for Chevy, Pontiac, Saturn, and Buick using common platforms and common parts. The same for Powertrain, engines and transmitions buid at one site go into several models assembled at one or more assembly plants. The same for the stamping of body panels from one facility that are shipped to several assembly plants.
So the question is: What plants go with the Good GM and what plants go with the Bad GM? Is the Obama administration going to make those decisions? Sure looks like it.
Why is the Obama administration getting so involved in the operating decisions of GM? One would say to protect the Taxpayer's intrest (investment).
With $13.5 Billion dollars GM is not the biggest risk for the government. The Banks and AIG have received well over $450 Billion dollars todate. With most of the reports comming out of the banking sector indicate that the government will never see 90% of that money back. So ,, is this Risk Management ? or is it good old fashion politics? "look what I did for you"
On the campaign trail it was all about corporate abuse, and CEOs. So far we have focused on tearing down GM, but what about the banks and AIG? Is it posible that the administration have No Clue on how to deal with them? After all. Who realy knows what goes on behind the scenes at the banks and AIG? Clearly not the Obama administration. No one in the administration has the expertise to " FIX " the banks and the other scheme financial institutions. They are scared to death of what schemes the financial genius will come up with next.
So what makes them experts in the Auto industry?
Driving a car.
Look out folks.

Cars: What It Means to 'Buy American'

You just can NOT wipe off 100 years of history because today is a different day. The Foreign manufacturers and transplants have taken advantage of the US open markets to the point of saturation and almost complete distruction.
For the Japanese this is economic warfair in a continued state since 1945.
Fact is YOU the American taxpayer including the American auto workers who are also taxpayers have been sending Billions each year to Japan and Korea to support their Health Care, their Economic Developement , and their Defense. All while they focused on an Industrial policy and a plan to nurture and support their industrial companies. Their industry is based on manufacture for export.
The transplant are only here due to presure from the BUY AMERICAN movements in the 80s . Their presence is well calculated and approved by their homeland. While Southers less developed States give them tax breaks, land deals, construction cost assistance, a sellected young healthy workforce, a cheap wages since they settle in rural country states that promote right to work and are against unions.
Even today. Duplicate models are made in Japan and in the US. just so they can say this is an American car. They still import most of what they sell. and still import most of the components they use in the US made cars.
As American we have forfeited our values and our principals due to what ever subjective reason we want to spin on the issue of not buying american.
I hear these stupid cheap excuses everyday and I wonder when will you people wake up.. Just the other day in a conversation at a doctor's office watching news reports about the auto industry, a guy said I will never buy a Chevy again because in 1974 bought a Vega and it turned out to be a lemon, Almost imidiately another guy said " that is the reason I wont buy american cars, I had a Ford Pinto that was just junk" . WAKE UP people that was 35 years ago. This is like a bunch of Boy Scouts sitting around the camp fire telling stories trying to one up each other.
You want better cars, OK , demand better cars but don't piss on the people and the industry that RAISED everyone's standard of living. The Auto industry by leading the wage and benefit scales forced other companies to pay their employees a higher wage. and better benefits, thus the growth cycles we have enjoyed to today's standards. Geting back to the is of the government buying only American. What do you thing the Japanese government buys? Fords, Chevys, Dodge, or European, NO ! ONLY JAPANESE owned and Japanese made. WAKE UP people before it's to late because as the Auto workers and their wage and benefits decrease so will yours.

Cars: What It Means to 'Buy American'

You just can NOT wipe off 100 years of history because today is a different day. The Foreign manufacturers and transplants have taken advantage of the US open markets to the point of saturation and almost complete distruction.
For the Japanese this is economic warfair in a continued state since 1945.
Fact is YOU the American taxpayer including the American auto workers who are also taxpayers have been sending Billions each year to Japan and Korea to support their Health Care, their Economic Developement , and their Defense. All while they focused on an Industrial policy and a plan to nurture and support their industrial companies. Their industry is based on manufacture for export.
The transplant are only here due to presure from the BUY AMERICAN movements in the 80s . Their presence is well calculated and approved by their homeland. While Southers less developed States give them tax breaks, land deals, construction cost assistance, a sellected young healthy workforce, a cheap wages since they settle in rural country states that promote right to work and are against unions.
Even today. Duplicate models are made in Japan and in the US. just so they can say this is an American car. They still import most of what they sell. and still import most of the components they use in the US made cars.
As American we have forfeited our values and our principals due to what ever subjective reason we want to spin on the issue of not buying american.
I hear these stupid cheap excuses everyday and I wonder when will you people wake up.. Just the other day in a conversation at a doctor's office watching news reports about the auto industry, a guy said I will never buy a Chevy again because in 1974 bought a Vega and it turned out to be a lemon, Almost imidiately another guy said " that is the reason I wont buy american cars, I had a Ford Pinto that was just junk" . WAKE UP people that was 35 years ago. This is like a bunch of Boy Scouts sitting around the camp fire telling stories trying to one up each other.
You want better cars, OK , demand better cars but don't piss on the people and the industry that RAISED everyone's standard of living. The Auto industry by leading the wage and benefit scales forced other companies to pay their employees a higher wage. and better benefits, thus the growth cycles we have enjoyed to today's standards. Geting back to the is of the government buying only American. What do you thing the Japanese government buys? Fords, Chevys, Dodge, or European, NO ! ONLY JAPANESE owned and Japanese made. WAKE UP people before it's to late because as the Auto workers and their wage and benefits decrease so will yours.


On Apr 09 11:31 PM Seamus42 wrote:

> The "real Yank" is an idiot. But lest anyone be deceived, these American
> companies may assemble cars in the US, but many of the parts come
> from outside the US. The Ford Fusion is based on a Mazda chassis;
> the Tarus on a Volvo chassis. At GM, the Saturn Aura is a German
> Opel as is the Solstice, and Sky; the Pontiac G8 is based on an Australian
> Holden. At Chrysler, the 300 is based on a 2 gen old E-Class Mercedes
> and that chassis is also the basis for the new Challenger. Oh, and
> the mini vans are made (assembled) in Canada.
> As I last knew, the Ford F-150 truck was the most American made product
> as determined by the UAW and that was about 95% US parts. In today's
> global economy there is no true "American car company"

Obama to Automakers: Ultimatums with Teeth

Some times tough medicine is hard to swallow. In the absense of an Industrial policy wondering why this task force is operating as guardian of an Industrial Policy?
Why did the banks and wall street scheme financial institutions don't get this much focus?

Taking Apart Jake DeSantis' Letter

DeSantis has a potential to be a great spokesman in Hollywood for ShamWows and snake oil.

GM Execs Fill Up on the Taxpayer's Dime

to Observer 1

You sir are full of half truths. sounds like you overheard someone talking and now you just take the ball and run with it.
How can it be free if they pay imputed income? ($250/month)
They must absolutely buy or lease a new vehicle every 2 years, and yes it can be a PEP car they were issued if not tagged by an employee by the end of the assignment. Spouces are only permited to drive in extreme emergency.
The local CVO center has 74 drivers on record with 56 driving Cobalts, or G5s Not Cadilacs, Not Buicks, Not Hummers.
Most vehicles are tagged for employee sale once the PEP driver is switched out. The remaining untagged vehicles go to the Auction.
To their credit GM has much higher integrity values than most companies.

You just keep grinding that axe.


On Mar 27 10:20 PM observer1 wrote:

> The GM 8th levels and unclassified executives get a vehicle to use
> for "free", yes they pay imputed income for the use of the vehicle,
> but it is a GREAT deal. Most of the use is commuting, not company
> trips or anything else but family use. Any argument to that is baloney.
> Their spouse can use the vehicle as well. It is normally an Escalade,
> Suburban, or Cadillac (premium vehicle). They can use as much gas
> as needed, including filling up on friday night, driving to the cabin,
> and back, then filling up on monday morning. Free car insurance,
> free maintenance, tires, you name it. If the PEP car breaks, the
> company car office gets them a new one. When the vehicle has "miled
> out" , the executive can use this vehicle as their "drive and buy"
> (or lease, as it use to be) and this becomes their wifes car. They
> purchase or lease this vehicle at deep discount as PEP 1,2 or 3 depending
> on the miles. Not a bad deal. I am sure anyone would like that deal
> too, just not if the company is broke and others are being fired
> or losing their health care (so much for leadership).
>
> Actual "manufacturers" test vehicles are not PEP cars as some have
> stated above. They are "M" plated and are for testing only, no spouses
> or personal trips, a completely different deal. They should knock
> off the PEP cars, not the true test "M" plate vehicles. The PEP cars
> are mostly just commuter cars. The PEP drivers fill out an evaluation
> form that is often cursory at best. Some of the comments are laughable
> almost, you can tell a bunch of these people are pencil pushers that
> are clueless about vehicles. This has been a complete example of
> wretched excess for years, that quite frankly should have been eliminated
> long before some poor low level GM saps insurance benefits got cancelled.
>
>
> let em eat cake
> .

GM Execs Fill Up on the Taxpayer's Dime

Don't forget the Pelosi airplanes
(Airforce-3, or 4, or 5 ahhh who knows)


On Mar 27 08:21 PM 303820 wrote:

> IS ANYONE BITCHING ABOUT SEN. SHELBY AND SEN CORKERS FREE GAS? PAYED
> FOR THE AMERICAN TAXPAYERS?

GM Execs Fill Up on the Taxpayer's Dime

You sir have no clue what you are talking about. Sound like you have been practicing the old UAW favorite "It's always management's fault"


On Mar 27 09:26 PM Hrworker wrote:

> Just another perk for the TOP HEAVY GM (non-productive) SALARY LABOR.
> They need to make DEEP cuts in that area. I bet GM could get rid
> of half of its current Salary workforce and not see any affect in
> production. Ross Perot told them back in the 80tys and all they did
> was buy him out to keep his mouth shut. Until GM makes these cuts
> it will go nowhere.

AIG Exec Departures: What a Surprise!

The DeSantis grand stand exit is worthy of an Academy Award. This guy is wasting his talents at AIG he should be in Hollywood or on TV infomercial selling snakeoil. It is so easy to blame Liddy, The new guy who was brought is to coordinate a fix situation and has no long standing roots with AIG.
When did they decide that all these people that have left did something wrong?
Clearly AIG lacks as a company a code of conduct. After 11 years with the company DeSantis knew the INs and OUTs of this unit.
When did they know that someone was doing something wrong?
Did they violate company policy?
Did they violate any laws?
Did they violate company proceedures?
Did any of these people actualy got fired?
Did AIG have any polocies and proceedures covering the activities of the FP unit?
Seems to me that this AIG unit was operating in uncharted teritory making up the rules as they went along. Perhaps Mr DeSantis should have provided evidence to the state attorney's office of any wrong doing by these departed employees.
But was there any wrongdoing?
As long as this unit showed profits who at AIG cared if they followed proper company policy or if they operated with it the law. How fitting to point the finger at some one who is not there. I have NO sympathy for DeSantis or the rest of the theives and crooks at AIG because they cover for each other, they take no responsibilty for what they did, and they abuse the taxpayer trust.

Congress' Handling of AIG Bonuses Is Shameful

I'm all for reasonable compensation based on the requirements of the job. Compensation has escalated out of control. The sky is the limit with these superstars. Let's be reasonable Get this company healthy again then you can expect to be copensated acording to your level of involvement in the recovery. This is about Fair and Equitable compensation. The Wall Street types have been operating like pirates, Take all you can and run.

Here is what you suggest: You pay a painter $1,000 to paint your house Blue. He paints it Pink. Now he wants another $1,000 to paint it the color you asked for the first time. Based on your comments you would hire another painter pay him the $1,000 plus a bonus of $1,000 to get the house painted. So far you have spend $3,000. Are you getting what you paid for?


On Mar 26 01:16 PM I weep for this country. wrote:

> Reality check:
> Do you even realize that many of these executives were brought in
> after the fall to fix that unit. In fact, the man who heads up the
> unit was brought over from Merrill and guess what yes, you have to
> give him money in order for him to take the job since he is good
> enough to go somewhere else. Who would go there now? You own the
> company, it is losing value everyday. You can't blame Matt Lauer,
> who is getting ratings and making money for NBC, for the problems
> GE is having in their financial unit. Would it make sense not to
> pay him and then have him go to ABC? No, you would end up hurting
> the division that is making money! This is a conglomorate and there
> is plenty of good business units there that are now going to lose
> value because of the demonization of the parent. This FP unit is
> a fly speck on the Company as a whole but if we keep this up the
> whole company goes down along with all value the taxpayer could possibly
> reap from a sale. Your lack of understanding of how business works
> is fine, the problem is that Congress shares your ignorance.

Congress' Handling of AIG Bonuses Is Shameful

Good now that we got this out of the way. Nationalize AIG and the rest of the bailed out banks. Make all their employees Government employees and pay them the prevaling government wage. $30K to $100K / year. ...


On Mar 26 11:31 AM I weep for this country. wrote:

> People we own AIG! Why are we trying to destroy it? It should be
> unamerican to bash the good people at AIG who are now working there
> knowing how bad they are perceived and yet staying loyal to the company.
> Keeping good employees who see some future in their current roles
> in the only way we will see any of that money that Congress decided
> to give to Goldman and France. Remember the people who caused the
> crisis left! And most of AIG is made up of good, solid insurance
> units that up until now were making money. But this grandstanding
> is now hurting that part of the business that had nothing to do with
> Financial Products whatsoever and which hold the key to taxpayers
> recouping what the Fed gave to the counterparties!

Congress' Handling of AIG Bonuses Is Shameful

Need to look at the root cause not just the byproduct. If Giethner approved these bonusses he will carry the responsibility and will have to be accountable for his actions. Even-so his actions were reactionary just like any politician. The Root Cause is the fact that a defunked company borrowed money and in turn they paid bonusses with that money to the very people who put the company on death row. The common man who's money they used does not understand how is it posible sizable bonusses of this amounts can be paid to execs who allready make multi million dollar base wage and screw up this big.
Please debate the Root Cause with out diversions from the root cause.