WE INVESTED IN GM AND CHRYSLER

[photoshooter]

Originally Posted by melduagun

Hey: Ain't none you guy's fault we're headed to the trash heap. The blame lies with our pollyticians and we all will go where they lead, right? don't like it but it is what it is ,right?

Um.... Yes the blame lies with the (key word here) Progressive politicians, and those who supported them.

Yes, many of US are to blame. GW Bush turned out to be Progressive in sheeps clothing. I was one of those that believed the lies that the Patriot act would sunset - that we just needed to have a little bit of non-constitutional activity in time of war. Well, that "time of war" kept getting longer and longer.

Now, many - and I do mean a vast majority of the conservatives in this country - have awakened. We've pulled our collective heads out of our collective arses.

We say "ENOUGH!" <--------- (caps lock on for a one word emphasis!)

Now we've got the king of Progressives in the white House, and his band of merry men/women/etc in congress running our country down a road designed to totally trash our constitution.

So, we're standing FOR our constitution. All of it. 1st through 27th amendment. We know about the 9th and 10th amendments -- and we are demanding that our government follow them as well.

At Steve Buyer's town hall this week, we were over 1,000 strong. Perhaps 100 of that were cantankerous libs that believe in a "living constitution" (perhaps I should believe in "living" poker rules so I never lose a pot of $$)

So, I ask you this: Do you believe that the government's (both under GWB and BHO) answer to the bailouts, tarp, stimulus, can-n-trade, and health care reform are Constitutional and legal?

If so, why? Chapter and verse from the Constitution please.

If not... we welcome your voice at any of the protests we've got going.

Yes, friends there are good, Constitution believing candidates coming forward all over. We can get them in next year. We just need to be willing to help them by being informed on the issues, and willing to politely educate those who can be swayed to see the destructive path our leaders have taken us down.

Have heart. We're just at the beginning of change. Like anything good it takes a while to get rolling.

From my involvement in the Tea Party movement, I can see the momentum shifting. There are a huge number of us who have woke up to this mess.

We know this won't be cleaned up overnight, and we're putting our lives on hold to fix it. It will take more than just a little effort. This is a political battle for the long haul. It took a long time to get this messed up, it will take a long time to fix.

I'll see all of you this morning at the statehouse in downtown Indy. We've got some liberal progressives to go protest against.

[jeremy]

Originally Posted by Bill of Rights

I get the whole "Buy American" thing, really, I do. Here's the thing, though:
Show me some. To be more specific, show me a company that uses 100% American parts made of 100% American materials to assemble something by 100% American workers and that includes 100% American technology, for which the proceeds stay 100% in America. It does not exist, I don't think, but I'm willing to be proven wrong. As I see it, given that 100% American doesn't exist, I'm going to look for something that costs me as little to buy as is possible AND will cost me as little to run and maintain as is possible. I like that better than the situation the last time I bought a car... I just needed something with wheels and a motor that ran and would get me from one place to another, and I needed it fast. This time, I get to be a little choosy, God willing.
Now.. if someone can show me where the auto market is not part of the global economy but solely an American product and the benefit from my purchase will remain solely in America... I'll take a look and I may buy... but I earned the money that will pay for it, so I reserve the right to buy something else if it fits my needs better.

Anyone?

Blessings,
Bill

Not even the military can fit this request...

[mrjarrell]

The most fuel efficient car right now is made by Ford, not GM. It is the Ford Fiesta Econetic and it gets over 65 MPG. Of course, you can't buy it in the USA because of the governments regulations and Ford's stupidity. Add in the fact that it's not made in the US, either and I guess it'll never be good enough for some people.

Of course the best MPG will come from Honda and its hydrogen fuel cell run Clarity (Toyota is also getting into this arena). As usual the Big 3 shoot themselves in the foot and are behind the curve. This is one of the main reasons people buy "foreign" cars. They hate stupid companies.

[Boilers]

I think this is interesting read on how the Chrysler deal has left certain holding..

Old Chrysler loses $10.2 billion | Detroit Free Press | Freep.com

The old Chrysler -- made of the assets that remain in U.S. Bankruptcy Court -- lost $10.2 billion in June, according to an unaudited financial report filed Friday.

The size of the loss reflected the sale of the automaker's most-viable assets to Chrysler Group LLC, the new company created in the government-backed sale to investors led by Fiat.



When that sale closed June 10, the U.S. Treasury paid $2 billion to what is called Old Carco LLC, which owns seven plants that Fiat did not want included in Chrysler Group LLC. But Old Carco took a big loss on the deal.



Old Carco is also responsible for such liabilities as employees' wages at the properties it owns, as well as federal, state and local taxes, certain pension and restructuring liabilities.



For example, Old Carco paid $141.6 million in wages and $47.1 million in payroll taxes. For June, it also paid $55 million in federal income taxes, as well as $1.8 million to Michigan and $1.2 million to Ohio. Old Carco also paid $15 million to Capstone Advisory Group LLC, a valuation consultant that has worked with Chrysler since last November.



Since Chrysler filed for bankruptcy April 30, Old Carco has also paid $55 million to lawyers, financial advisers, investment bankers and accountants, according to the monthly operating report.



Separately, two pension funds and one construction fund managed by the State of Indiana are appealing again to the U.S. Supreme Court. They want an unspecified amount of money paid to them by Chrysler Group LLC owners, which include Fiat, the UAW and the U.S. and Canadian governments.



The Indiana funds purchased about $42 million of Chrysler's debt at deeply discounted prices before its April 30 bankruptcy filing.



Indiana State Treasurer Richard Mourdock declined to go along with other lenders who forgave $6.9 billion in loans in exchange for the $2 billion in cash from the U.S. Treasury.



Supreme Court Justice Ruth Bader Ginsburg in June chose not to review an appeal by these same funds of a lower court's ruling backing the sale.



Contact GREG GARDNER: 313-222-8762 or ggardner@freepress.com