hno:
Fri May 22, 2009 11:40am EDT
By Kevin Drawbaugh
WASHINGTON (Reuters) - Four U.S. Republican lawmakers have complained to Treasury Secretary Timothy Geithner that a plan to restructure automaker General Motors Corp subverts the rights of bondholders, according to a letter from the lawmakers obtained by Reuters on Friday.
A proposed restructuring favors the claims of the United Auto Workers union "over the rights and claims of the company's diverse group of bondholders, who collectively hold $7 billion more in General Motors debt than the UAW's health trust and are equal members of the creditor class," the lawmakers said.
"Bondholders must have a seat at the table during negotiations in how the company would be restructured," said the letter to Geithner from Representatives Jeb Hensarling, Eric Cantor, Mike Pence and Pete Sessions.
"We are extremely concerned that in the name of restructuring General Motors, the Presidential Task Force on the Auto Industry ... has begun waging what some believe amounts to a war on capital: contractual rights of investors are being trampled by the government under the rationale of 'extraordinary circumstances,'" the lawmakers wrote.
GM and the UAW reached a tentative agreement on Thursday to cut hourly labor costs and restructure the funding for $20 billion owed to a union-aligned trust for retiree healthcare.
Analysts have said that now puts the focus on GM bondholders who are being asked to forgive debt in exchange for a 10 percent stake in a reorganized company.
Representatives of the bondholders have rejected that offer as insufficient. The U.S. Treasury would hold a majority stake in a reorganized company under GM's proposal. The UAW would hold 39 percent and current shareholders would get 1 percent.
Chrysler LLC, GM's smaller rival, filed for bankruptcy on April 30 after failing to get an agreement from all of its secured creditors on debt restructuring terms.
By Kevin Drawbaugh
WASHINGTON (Reuters) - Four U.S. Republican lawmakers have complained to Treasury Secretary Timothy Geithner that a plan to restructure automaker General Motors Corp subverts the rights of bondholders, according to a letter from the lawmakers obtained by Reuters on Friday.
A proposed restructuring favors the claims of the United Auto Workers union "over the rights and claims of the company's diverse group of bondholders, who collectively hold $7 billion more in General Motors debt than the UAW's health trust and are equal members of the creditor class," the lawmakers said.
"Bondholders must have a seat at the table during negotiations in how the company would be restructured," said the letter to Geithner from Representatives Jeb Hensarling, Eric Cantor, Mike Pence and Pete Sessions.
"We are extremely concerned that in the name of restructuring General Motors, the Presidential Task Force on the Auto Industry ... has begun waging what some believe amounts to a war on capital: contractual rights of investors are being trampled by the government under the rationale of 'extraordinary circumstances,'" the lawmakers wrote.
GM and the UAW reached a tentative agreement on Thursday to cut hourly labor costs and restructure the funding for $20 billion owed to a union-aligned trust for retiree healthcare.
Analysts have said that now puts the focus on GM bondholders who are being asked to forgive debt in exchange for a 10 percent stake in a reorganized company.
Representatives of the bondholders have rejected that offer as insufficient. The U.S. Treasury would hold a majority stake in a reorganized company under GM's proposal. The UAW would hold 39 percent and current shareholders would get 1 percent.
Chrysler LLC, GM's smaller rival, filed for bankruptcy on April 30 after failing to get an agreement from all of its secured creditors on debt restructuring terms.
The boys are getting restless…..
Congress attacks GM revamp
By Julie MacIntosh in New York and Tom Braithwaite in Washington
Published: May 22 2009 18:58 | Last updated: May 23 2009 00:34
General Motors is preparing to file for bankruptcy protection as early as May 31, but a speedy restructuring of the carmaker faces headwinds from an increasingly sceptical US Congress.
Under the current plan, the US government would cancel most or all of its existing debt in the company and invest in a “new” GM that could emerge from bankruptcy in the autumn, said a person close to the matter.
GM would receive tens of billions of dollars in new government money, probably in stages, to prop up its business at a time when car sales are threatening to be lower than the 10m annual rate at which GM says it can break even.
The person said that the government may keep a slice of debt in the “old” GM assets that are wound down in bankruptcy to retain leverage over the process.
GM, the largest US carmaker, is likely to file for bankruptcy protection even if 100 per cent of bondholders agree to a debt swap proposed by the company and the government, said people close to the company. An agreement looked unlikely on Friday, after a bondholder committee said it would reject the offer.
GM would aim to win bankruptcy court approval by July 1 for a plan to separate its good brands and assets into a viable company, which could then emerge from bankruptcy on a rolling basis. Officials have been cheered by the speed of Chrysler’s bankruptcy process, but hopes that GM can follow a rapid path through court are being dimmed by a building backlash from lawmakers. Some are claiming that creditors’ rights are being given short shrift while others complain about job cuts and the closure of dealerships.
A letter signed by 36 representatives was sent to President Barack Obama on Friday, asking him to slow down the process to allow for more consultation.
Dennis Kucinich, a Democratic representative, complained that taxpayers’ money was “being used to close dozens of US car manufacturing plants and thousands of dealerships, having the effect of putting perhaps millions of Americans out of work”.
Separately, the Senate commerce committee said it intended to ask carmakers’ chief executives to testify about plans to close dealerships.
As planning between the company and the government’s autos task-force continued, analysts noted that the amount of credit insurance written on GM’s debt made a filing seem inevitable.
GM on Friday said it had borrowed another $4bn from the Treasury, taking its total federal funding to $19.4bn, and expected to need $7.6bn more after June 1.
Shares of GM dropped by 25.5 per cent to close at $1.43.
On and on we go, where we stop, nobody knows....^<<^
Congress attacks GM revamp
By Julie MacIntosh in New York and Tom Braithwaite in Washington
Published: May 22 2009 18:58 | Last updated: May 23 2009 00:34
General Motors is preparing to file for bankruptcy protection as early as May 31, but a speedy restructuring of the carmaker faces headwinds from an increasingly sceptical US Congress.
Under the current plan, the US government would cancel most or all of its existing debt in the company and invest in a “new” GM that could emerge from bankruptcy in the autumn, said a person close to the matter.
GM would receive tens of billions of dollars in new government money, probably in stages, to prop up its business at a time when car sales are threatening to be lower than the 10m annual rate at which GM says it can break even.
The person said that the government may keep a slice of debt in the “old” GM assets that are wound down in bankruptcy to retain leverage over the process.
GM, the largest US carmaker, is likely to file for bankruptcy protection even if 100 per cent of bondholders agree to a debt swap proposed by the company and the government, said people close to the company. An agreement looked unlikely on Friday, after a bondholder committee said it would reject the offer.
GM would aim to win bankruptcy court approval by July 1 for a plan to separate its good brands and assets into a viable company, which could then emerge from bankruptcy on a rolling basis. Officials have been cheered by the speed of Chrysler’s bankruptcy process, but hopes that GM can follow a rapid path through court are being dimmed by a building backlash from lawmakers. Some are claiming that creditors’ rights are being given short shrift while others complain about job cuts and the closure of dealerships.
A letter signed by 36 representatives was sent to President Barack Obama on Friday, asking him to slow down the process to allow for more consultation.
Dennis Kucinich, a Democratic representative, complained that taxpayers’ money was “being used to close dozens of US car manufacturing plants and thousands of dealerships, having the effect of putting perhaps millions of Americans out of work”.
Separately, the Senate commerce committee said it intended to ask carmakers’ chief executives to testify about plans to close dealerships.
As planning between the company and the government’s autos task-force continued, analysts noted that the amount of credit insurance written on GM’s debt made a filing seem inevitable.
GM on Friday said it had borrowed another $4bn from the Treasury, taking its total federal funding to $19.4bn, and expected to need $7.6bn more after June 1.
Shares of GM dropped by 25.5 per cent to close at $1.43.
On and on we go, where we stop, nobody knows....^<<^
Wait! …. There’s more..
By David Alexander
WASHINGTON (Reuters) - U.S. President Barack Obama said in an interview released on Saturday he was confident General Motors would thrive after restructuring, but made no mention whether the automaker might have to enter bankruptcy to complete reorganization.
Obama, in an interview with the C-SPAN cable television network, said he wanted the government to get out of the auto business as soon as possible, and added if some auto jobs never returned, the government would work to ensure workers were retrained.
To be exactly what, community organizers?
By David Alexander
WASHINGTON (Reuters) - U.S. President Barack Obama said in an interview released on Saturday he was confident General Motors would thrive after restructuring, but made no mention whether the automaker might have to enter bankruptcy to complete reorganization.
Obama, in an interview with the C-SPAN cable television network, said he wanted the government to get out of the auto business as soon as possible, and added if some auto jobs never returned, the government would work to ensure workers were retrained.
To be exactly what, community organizers?
There were 4 women who worked at Cheetah’s that rented a 4000 sq ft house five doors down from me. They took a cab home every morning. So I would walk my dog around the same time every morning and one day I got into a conversation with the cabby and she said they told her that they averaged $1000 to $1500 a night. I said are you sure their not just bragging and she said, well they tip me a $100 every day.
Finally….. The takeover is complete.
WASHINGTON - General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.
GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 billion in debt and $82.29 billion in assets.
“The General Motors board of directors authorized the filing of a Chapter 11 case with regret that this path proved necessary despite the best efforts of so many,” a company statement said. “Today marks a new beginning for General Motors. ... The board is confident that this New GM can operate successfully in the intensely competitive U.S. market and around the world.”
Yeah right…
WASHINGTON - General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.
GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 billion in debt and $82.29 billion in assets.
“The General Motors board of directors authorized the filing of a Chapter 11 case with regret that this path proved necessary despite the best efforts of so many,” a company statement said. “Today marks a new beginning for General Motors. ... The board is confident that this New GM can operate successfully in the intensely competitive U.S. market and around the world.”
Yeah right…
<<
For Immediate Release
Monday, June 1, 2009
Statement on General Motors bankruptcy filing
Taxpayers, competing companies at risk
WASHINGTON -- Libertarian National Committee Chairman William Redpath issued the following statement today:
"Today’s bankruptcy filing by General Motors represents yet another failure of the economic policies and George W. Bush and Barack Obama, and another in a series of bodyblows to economic freedom over the past nine months. Years in the making, neither $20 billion in taxpayers’ money nor an upcoming transfer of another $30 billion from taxpayers to GM could save the company from bankruptcy restructuring.
President Obama has accomplished at least one thing with GM’s bankruptcy: a transfer of tremendous wealth from the GM’s lenders and U.S. taxpayers to the United Auto Workers union that supported his election, and placing one of the world’s largest companies under U.S. Government control.
Under the filing, the U.S. Government will own 60% of GM’s equity, while the Canadian government will own another 12.5%. That presents both a tremendous risk to taxpayers and a dangerous conflict of interest when government crafts policy on fuel efficiency standards and labor law. In fact, Rasmussen Reports finds that 57% of Americans believe the government will now pass laws and regulations giving GM an unfair advantage over other car companies.
Another 67% of voters agree with the Libertarian Party that Barack Obama was wrong to use their money to bail out a failing company. Bankruptcy filings by large international corporations are not uncommon and allow the company to get its financial affairs in order and emerge stronger and more competitive.
Perhaps most troubling of all is the lack of an announced plan for the U.S. Government to hold its equity in General Motors for a limited period of time and then sell its stock to the highest bidder. It appears that U.S. taxpayers are stuck owning most of GM indefinitely into the future. There may also be an effect of suppression of competition in the auto industry with the U.S. Government owning a majority stake in GM.
The Libertarian Party has recommended bankruptcy restructuring from the start and regrets that President Obama chose to use this opportunity to extend government control over even more of the U.S. economy."
<!-- /node-inner, /node -->
Monday, June 1, 2009
Statement on General Motors bankruptcy filing
Taxpayers, competing companies at risk
WASHINGTON -- Libertarian National Committee Chairman William Redpath issued the following statement today:
"Today’s bankruptcy filing by General Motors represents yet another failure of the economic policies and George W. Bush and Barack Obama, and another in a series of bodyblows to economic freedom over the past nine months. Years in the making, neither $20 billion in taxpayers’ money nor an upcoming transfer of another $30 billion from taxpayers to GM could save the company from bankruptcy restructuring.
President Obama has accomplished at least one thing with GM’s bankruptcy: a transfer of tremendous wealth from the GM’s lenders and U.S. taxpayers to the United Auto Workers union that supported his election, and placing one of the world’s largest companies under U.S. Government control.
Under the filing, the U.S. Government will own 60% of GM’s equity, while the Canadian government will own another 12.5%. That presents both a tremendous risk to taxpayers and a dangerous conflict of interest when government crafts policy on fuel efficiency standards and labor law. In fact, Rasmussen Reports finds that 57% of Americans believe the government will now pass laws and regulations giving GM an unfair advantage over other car companies.
Another 67% of voters agree with the Libertarian Party that Barack Obama was wrong to use their money to bail out a failing company. Bankruptcy filings by large international corporations are not uncommon and allow the company to get its financial affairs in order and emerge stronger and more competitive.
Perhaps most troubling of all is the lack of an announced plan for the U.S. Government to hold its equity in General Motors for a limited period of time and then sell its stock to the highest bidder. It appears that U.S. taxpayers are stuck owning most of GM indefinitely into the future. There may also be an effect of suppression of competition in the auto industry with the U.S. Government owning a majority stake in GM.
The Libertarian Party has recommended bankruptcy restructuring from the start and regrets that President Obama chose to use this opportunity to extend government control over even more of the U.S. economy."
<!-- /node-inner, /node -->
I have a 2006 Saab, that's one of the brands that will be discontinued, not too happy about that. Probably my resale value has dropped 20 to 30%.
Anyway, I'm not buying a car from GM ever! Unions getting a portion of the stock and the bondholders holding the bag. What a disgrace! 60% ownership by Obama and his cronies. I'll buy Ford or foreign!
Why GM is Doomed to Failure!
Tuesday, June 2, 2009, 07:19 AM
Government Loses Money at All Levels and Departments
Government Can't Run a Brothel
By Wayne Allyn Root, 2008 Libertarian Vice Presidential nominee
So we've just put government in control of General Motors? Well that should solve the problem. The same people that have run the American economy into the ground now think they can run an auto company. Has anyone thought this through? Government loses money at virtually everything it does and touches. Virtually every level of government operates at a loss (deficit). Government can't spell, let alone achieve, profitability at anything. Government is the most disastrous and inept failure at everything it does of any organization in the world. It only survives its colossal mismanagement of everything by raising taxes and therefore confiscating more money from the private sector- filled with people who are competent and do know how to run a business and achieve profitability. In other words, government only survives by confiscating money from smart people in the private sector to pay for its mismanagement, waste, corruption and nonstop failure and losses.
Government runs Social Security. It is fast approaching bankruptcy. Government runs Medicare. It is fast approaching bankruptcy. Government runs education. Education runs through tens of billions of dollars each year and yet somehow manages to produce worse results virtually every year (and always demands more as a reward for utter failure). When government took over education, America's children were ranked among the best in the world. Today our children's educational record is among the worst in the industrialized world.
Government took over Amtrak in the same way it took over GM, promising a quick return to profitability. Amtrak bleeds losses every year for the U.S. taxpayer. In 1970 when Amtrak was founded, $300 million was approved by Congress to run it. The government predicted profitability within 5 years. That was 39 years and over $30 billion dollars in losses ago!
Government is promising (again) a quick return to profitability. Yet these are the same government bureaucrats who have produced a deficit of $1.75 trillion per YEAR. These same government bureaucrats have produced a national debt of somewhere between $60 trillion and $100 trillion (depending on how many years out you predict the responsibilities of Social Security and Medicare). Our national debt is now larger than world GDP (every dollar created in the world each year). You actually think these same people (with the track record above) can takeover GM and turn a company that loses billions per year into a profitable company in a short period of time? We've now put the world's most inept and corrupt bureaucrats in charge of GM, and we expect improvement?
But here's the clincher. In my adopted home state of Nevada, prostitution is legal (and always profitable). It is impossible to lose money in the world's oldest profession. The most profitable brothel ever was the infamous Mustang Ranch. The owner earned so many tens of millions of dollars, that he grew fabulously wealthy. But he “forgot” to pay his taxes. He was indicted for tax evasion, escaped to Brazil, and is still today a fugitive from justice. The U.S. government took over the Mustang Ranch. The most successful and profitable brothel in America went bankrupt in one year under government management. That ladies and gentleman, no matter how you feel about brothels, tells you all you need to know about the ability of government to run a business.
One more “small problem” with the government's plans for GM. They are keeping unions in charge. Virtually nothing has changed. The same unions that destroyed GM with bloated salaries, pensions and healthcare for life go on running the workforce (with a few small changes for “show”). Yet the government is also demanding that GM change strategy and focus on building small cars with green technology. Those same smaller cars are the least profitable that can be built. There is very little profit per car. The big gas guzzling cars and trucks actually had the highest profit margin. Yet even these big trucks and SUV's could not pay for the bloated union compensation plan that destroyed GM and Chrysler. Now we have the worst of all worlds- companies run by Obama and his minions- all people with ZERO business experience- demanding that we keep paying unaffordable union wages, while we build small cars with lower profit margins. Are you starting to understand why our country is $100 trillion in national debt? Our country is run by people who couldn't run a lemonade stand. The only thing that Obama and his hand-picked executives are capable of doing successfully is fining or arresting the lemonade stand owner for not getting the proper government licenses.
The moral of the story? Nevada is a state where the constitution bans income taxes and politicians (we limit the time politicians can meet and serve), but welcomes guns in the hands of law-abiding citizens. We have common sense in plentiful supply. Here's my common sense tip of the day: If the federal government can't run a brothel, they certainly can't run GM. The same people responsible for massive deficit and debt, losses, waste and mismanagement on the federal level as far as the eye can see, should not be put in charge of any company. We are in deep trouble.
Wayne Allyn Root was the 2008 Libertarian Vice Presidential candidate
Tuesday, June 2, 2009, 07:19 AM
Government Loses Money at All Levels and Departments
Government Can't Run a Brothel
By Wayne Allyn Root, 2008 Libertarian Vice Presidential nominee
So we've just put government in control of General Motors? Well that should solve the problem. The same people that have run the American economy into the ground now think they can run an auto company. Has anyone thought this through? Government loses money at virtually everything it does and touches. Virtually every level of government operates at a loss (deficit). Government can't spell, let alone achieve, profitability at anything. Government is the most disastrous and inept failure at everything it does of any organization in the world. It only survives its colossal mismanagement of everything by raising taxes and therefore confiscating more money from the private sector- filled with people who are competent and do know how to run a business and achieve profitability. In other words, government only survives by confiscating money from smart people in the private sector to pay for its mismanagement, waste, corruption and nonstop failure and losses.
Government runs Social Security. It is fast approaching bankruptcy. Government runs Medicare. It is fast approaching bankruptcy. Government runs education. Education runs through tens of billions of dollars each year and yet somehow manages to produce worse results virtually every year (and always demands more as a reward for utter failure). When government took over education, America's children were ranked among the best in the world. Today our children's educational record is among the worst in the industrialized world.
Government took over Amtrak in the same way it took over GM, promising a quick return to profitability. Amtrak bleeds losses every year for the U.S. taxpayer. In 1970 when Amtrak was founded, $300 million was approved by Congress to run it. The government predicted profitability within 5 years. That was 39 years and over $30 billion dollars in losses ago!
Government is promising (again) a quick return to profitability. Yet these are the same government bureaucrats who have produced a deficit of $1.75 trillion per YEAR. These same government bureaucrats have produced a national debt of somewhere between $60 trillion and $100 trillion (depending on how many years out you predict the responsibilities of Social Security and Medicare). Our national debt is now larger than world GDP (every dollar created in the world each year). You actually think these same people (with the track record above) can takeover GM and turn a company that loses billions per year into a profitable company in a short period of time? We've now put the world's most inept and corrupt bureaucrats in charge of GM, and we expect improvement?
But here's the clincher. In my adopted home state of Nevada, prostitution is legal (and always profitable). It is impossible to lose money in the world's oldest profession. The most profitable brothel ever was the infamous Mustang Ranch. The owner earned so many tens of millions of dollars, that he grew fabulously wealthy. But he “forgot” to pay his taxes. He was indicted for tax evasion, escaped to Brazil, and is still today a fugitive from justice. The U.S. government took over the Mustang Ranch. The most successful and profitable brothel in America went bankrupt in one year under government management. That ladies and gentleman, no matter how you feel about brothels, tells you all you need to know about the ability of government to run a business.
One more “small problem” with the government's plans for GM. They are keeping unions in charge. Virtually nothing has changed. The same unions that destroyed GM with bloated salaries, pensions and healthcare for life go on running the workforce (with a few small changes for “show”). Yet the government is also demanding that GM change strategy and focus on building small cars with green technology. Those same smaller cars are the least profitable that can be built. There is very little profit per car. The big gas guzzling cars and trucks actually had the highest profit margin. Yet even these big trucks and SUV's could not pay for the bloated union compensation plan that destroyed GM and Chrysler. Now we have the worst of all worlds- companies run by Obama and his minions- all people with ZERO business experience- demanding that we keep paying unaffordable union wages, while we build small cars with lower profit margins. Are you starting to understand why our country is $100 trillion in national debt? Our country is run by people who couldn't run a lemonade stand. The only thing that Obama and his hand-picked executives are capable of doing successfully is fining or arresting the lemonade stand owner for not getting the proper government licenses.
The moral of the story? Nevada is a state where the constitution bans income taxes and politicians (we limit the time politicians can meet and serve), but welcomes guns in the hands of law-abiding citizens. We have common sense in plentiful supply. Here's my common sense tip of the day: If the federal government can't run a brothel, they certainly can't run GM. The same people responsible for massive deficit and debt, losses, waste and mismanagement on the federal level as far as the eye can see, should not be put in charge of any company. We are in deep trouble.
Wayne Allyn Root was the 2008 Libertarian Vice Presidential candidate
For me, this is it in a nutshell
Government is the most disastrous and inept failure at everything it does of any organization in the world. It only survives its colossal mismanagement of everything by raising taxes and therefore confiscating more money from the private sector- filled with people who are competent and do know how to run a business and achieve profitability. In other words, government only survives by confiscating money from smart people in the private sector to pay for its mismanagement, waste, corruption and nonstop failure and losses.
Government runs Social Security. It is fast approaching bankruptcy. Government runs Medicare. It is fast approaching bankruptcy. Government runs education. Education runs through tens of billions of dollars each year and yet somehow manages to produce worse results virtually every year (and always demands more as a reward for utter failure). When government took over education, America's children were ranked among the best in the world. Today our children's educational record is among the worst in the industrialized world.
Government took over Amtrak in the same way it took over GM, promising a quick return to profitability. Amtrak bleeds losses every year for the U.S. taxpayer. In 1970 when Amtrak was founded, $300 million was approved by Congress to run it. The government predicted profitability within 5 years. That was 39 years and over $30 billion dollars in losses ago!
-----------------------------------------------------------------------
Government is a colossal failure at management. Of course, it's not rocket science, they're elected politicians for heaven's sake. How somebody could believe these guys can micro manage the worldwide economy, manage health care, run GM, run Wall St, run all 50 states and control the price of gas is beyond comprehension for me. It's like believing in fucking Peter Pan.
Government is the most disastrous and inept failure at everything it does of any organization in the world. It only survives its colossal mismanagement of everything by raising taxes and therefore confiscating more money from the private sector- filled with people who are competent and do know how to run a business and achieve profitability. In other words, government only survives by confiscating money from smart people in the private sector to pay for its mismanagement, waste, corruption and nonstop failure and losses.
Government runs Social Security. It is fast approaching bankruptcy. Government runs Medicare. It is fast approaching bankruptcy. Government runs education. Education runs through tens of billions of dollars each year and yet somehow manages to produce worse results virtually every year (and always demands more as a reward for utter failure). When government took over education, America's children were ranked among the best in the world. Today our children's educational record is among the worst in the industrialized world.
Government took over Amtrak in the same way it took over GM, promising a quick return to profitability. Amtrak bleeds losses every year for the U.S. taxpayer. In 1970 when Amtrak was founded, $300 million was approved by Congress to run it. The government predicted profitability within 5 years. That was 39 years and over $30 billion dollars in losses ago!
-----------------------------------------------------------------------
Government is a colossal failure at management. Of course, it's not rocket science, they're elected politicians for heaven's sake. How somebody could believe these guys can micro manage the worldwide economy, manage health care, run GM, run Wall St, run all 50 states and control the price of gas is beyond comprehension for me. It's like believing in fucking Peter Pan.
Preussen, in the private sector there are failures, many failures, but there are also the successes that have made this country great. In the public sector, there are no such successes, only failures.
Batting 300 (a totally arbitrary number) is better than batting 000 (sadly, a solid number).
Batting 300 (a totally arbitrary number) is better than batting 000 (sadly, a solid number).
is the GOP not part of "government"?
