Breaking Local News – G.M. to offer buyout packages to all union employees.

This is interesting…:

General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs.

GM spokesman Tony Sapienza said the buyouts will mainly target GM’s 22,000 retirement-eligible hourly employees, though any union employee can take the offer.

News of the buyouts first broke on Monday. A union official told The Associated Press then that GM would offer $20,000 in cash and a $25,000 car voucher for workers who retire early and those who simply leave the company. The official spoke on condition of anonymity because workers were not yet notified of the packages.

via GM To Offer Buyouts To All Hourly Employees — WDIV Detroit.

Just another sign of the times. For the record, G.M. has done this in the past, when times were bad. Hopefully some of the guys that have been with the company and are about ready to retire will take this buy out. Hopefully, this will help the problem and G.M. will become viable.

Should we give incentive bonuses to Wall Street Watchdogs?

I have fixed feelings about this, and I will explain why a little further down.

An Article in the New York Times Dealbook Column asks a question whether Wall Street Regulators or Watchdogs should get performance bonuses.

Maybe someone deserves a bonus.

Like someone who sniffs out the next Bernie Madoff. Or jousts with tomorrow’s gonzo bankers. Or defuses the Next Big Crisis in whatever Next Big Thing is dreamed up by Wall Street.

Someone, in short, who regulates.

It is clear that the nation’s financial regulators were no match for Wall Street last time. The financiers were always one step ahead. But maybe that isn’t surprising. The financiers, after all, have a big incentive to outsmart the financial police. It is called a bonus. Wall Street lures a lot of bright minds with money. How can federal agencies compete? They can’t.

So, of course, The Government of Singapore’s head honcho says we ought to incentivize watchdog process.

Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.

“You must have as good people working in the government in the regulatory authorities as those that are working in the private sector,” Mr. Tan said. “You do need, particularly in these very difficult times, capable people in central banks, in government, in the Treasury who can effectively supervise.”

Mr. Tan knows about this firsthand. He is a former regulator himself, and Singapore has a different view about compensation.

“We pay our politicians and our government servants very well,” he said. “We lock remuneration to the market.”

While Singapore’s watchdogs aren’t paid enough to afford private planes, some in top positions make seven-figure salaries.

At first blush, this would seem to be a great idea; however, if you think about it closely, this would not be such a good idea. Because of the following:

Some at Davos thought the bonus idea could work. But anxiety over that approach was palpable. “They already treat us like criminals,” one hedge fund manager said.

A few said giving bonuses to regulators would be like giving bonuses to the police for issuing speeding tickets. Maybe the regulators, like Wall Streeters, would start thinking about the money, rather than what is right. But maybe that’s exactly what Wall Street needs to slow down.

I must say, that I highly disagree with this idea. Why? While I believe that moderate regulation is a good idea on Wall Street; I believe that incentivizing the Wall Street watchdog process will result in a overzealous regulatory process, that will be solely based upon monitory compensation. This would be absolutely disastrous to the free market process in America. As well all know we already law enforcement that borderlines upon a police state. Doing this to Wall Street would cause a fear mentality amongst the financial sector and discourage investment.

We need regulation, not a financial police state.

The Story of John Birch

Here is a very excellent video on the life of John Birch:

This video is by the founder of the John Birch Society, Robert Welch explaining what the John Birch Society is about:

Recieved via e-mail

This popped in my in box:

Dear Newsmax Reader,

Democratic congressional leaders and the Obama Administration have hyped the American Recovery and Reinvestment Act of 2009 as an urgent and essential “economic stimulus” package. This bill would be more aptly titled, the Pelosi-Reid Borrow-and-Spend Act!

The Senate is planning to vote on S.1, its version of the “stimulus,” this week. We can defeat it if all of the Republican members of the Senate vote NO, as their Republican colleagues in the House of Representatives did. I urge you to send a powerful message to your U.S. Senators today that you oppose this bloated, ill-conceived plan!

The $819 billion “stimulus” package approved by the House last week and the nearly $900 billion version now under consideration in the Senate would add to a federal deficit already projected to reach a record $1.2 trillion this year. This bill is not only one of the largest spending measures ever to pass through Congress, it will cost more over two years than we’ve spent to date on the wars in Iraq and Afghanistan!

The bill’s ability to fulfill its stated mission of stimulating the economy is also questionable at best. The nonpartisan Congressional Budget Office has concluded that more than half of the hundreds of billions of dollars in infrastructure spending contained in the bill, such as $26 billion of the $30 billion allocated for highways and $15.5 billion of the $18.5 billion for renewable energy projects, will not take place for more than two years — long after economists predict the current recession will have ended.

What’s more, the tax cuts in the package are narrowly targeted, with the largest portion going to more rebate checks, a strategy that failed to reverse our economy’s slide last year.

Even worse, the bill contains all sorts of special-interest and congressional pet spending projects that have virtually nothing to do with economic growth. As just one example, it allocates $335 million to the Centers for Disease Control (CDC) for the prevention of sexually transmitted diseases. Not only will this “healthcare” spending do nothing for the health of our economy, CDC has a track record of using such funds for events like a transgender beauty pageant in San Francisco and a conference, entitled “Got Love? Flirt/Date/Score,” that taught participants how “to flirt with greater finesse.”

Rather than burdening today’s and tomorrow’s taxpayers with this massive government spending spree, Congress should create more incentives and opportunities for private-sector jobs and growth by cutting government spending and enacting across-the-board tax cuts for individuals and businesses, like those that helped reverse economic slumps in the 1960s, 1980s, and earlier this decade.

If the Senate follows the House’s lead and passes this borrow-and-spend “stimulus” bill, it will waste record amounts of tax dollars, provide virtually no benefit to the economy, and only add to our nation’s soaring liabilities.

Please tell your Senators today that you want them to vote NO on the American Recovery and Reinvestment Act!

Sincerely,

Thomas A. Schatz
President

P.S. If the Senate approves the American Recovery and Reinvestment Act, federal lawmakers will have authorized more than $2 trillion in new government spending since February, 2008. While the cost of “jump-starting” the economy is sobering, the coming fiscal mushroom cloud is truly alarming. The national debt currently stands at a mind-numbing $10.6 trillion, and America is sinking into debt at the rate of $3.3 billion per day. Our children and grandchildren simply can’t afford this borrow-and-spend “stimulus” bill. Please deliver that message to your Senators today!

***
The Council for Citizens Against Government Waste (CCAGW) is the lobbying arm of Citizens Against Government Waste (CAGW), the nation’s largest taxpayer watchdog organization with more than one million members and supporters nationwide. CCAGW is a 501(c)(4) nonpartisan, nonprofit organization that lobbies for legislation to eliminate waste, fraud, abuse, and mismanagement in government. Contributions to CCAGW are not tax-deductible for federal income tax purposes. For more information about CCAGW, visit www.ccagw.org. Help CCAGW wage and win this battle to stop the Senate from passing this disastrous ”stimulus” bill and burdening future generations with crippling debt by making a contribution to support our grassroots and lobbying efforts today.

Please help us put a stop to this so-called “economic stimulus” bill by contacting your friends and neighbors and urging them to write to their Senators.

The Mining Industry feels the pinch

It is not just the auto industry that is feeling the pinch of the economy, it seems that the mining industry is feeling it as well.

BIG mining companies have suffered an astounding reversal of fortunes in the past few months. As boom has turned to gloom, commodity prices have slumped, leaving mining firms with painful decisions to make. Rio Tinto is the latest to suffer. On Monday February 2nd the Anglo-Australian mining giant was forced to confirm press speculation, acknowledging that it is in talks with Chinalco, a state-owned Chinese aluminium maker. The Chinese firm may agree to a deal to help to alleviate Rio’s debts which were taken on before the credit crunch led to a foundering world economy.

Rio’s debt pile of some $40 billion was mostly run-up through its purchase of Alcan, a Canadian aluminium firm, in 2007. Around $9 billion is due later this year, and refinancing will be a tricky proposition given the parlous state of debt markets. Another $10 billion must be repaid in 2010. Rio has started a firesale of assets: it raised $1.6 billion last week by selling iron ore and potash businesses in Brazil and Argentina to Vale, a Brazilian rival. But prices are depressed and making a sale is not always possible—Rio has still not managed to offload Alcan’s packaging business, although it is reportedly in talks with a potential buyer.

via Rio Tinto, deeply indebted, seeks investment from China The Economist.

More fall out from a concept floated by the Democrats, that was based entirely upon risk. Thank you Bill Cinton for ruining America. 🙄

Japan's Economy on the verge of collapse as well.

Russia is not the only one. Japan now is on the verge of collapse as well.

A reader chided me for not making note of the truly dreadful factory output figures released last Thursday, which showed a fall of 9.6%.

I have to confess that I have fallen into “Japan bad news” syndrome, in that I expect bad news out of Japan and therefore did not focus enough on the details. And while I do not aspire to covering every financial news story (that’s what the MSM is for), the latest figures paint a grim picture, even by our new, desensitized standards.

It wasn’t simply that December was truly awful, but it came on top of a nearly-as-bad November

via naked capitalism: Veneroso: Japan on the Edge of the Abyss.

Again, this is what happens when you inflate a money supply and create a bubble.

Yves continues:

Yves here. I only get the privilege of reading Veneroso now and again, but I cannot recall him taking a tone remotely like what follows:

I have been writing about an Asian black hole for almost two months now. I have been crying from the rooftops about an emerging depression in Japan. It has been as though a neutron bomb had gone off in the world. There was no one who seemed to notice, no one who seemed to listen.

Every week it gets worse and worse and worse. Today it was Japan….

THERE HAS NEVER BEEN DATA THIS BAD FOR ANY MAJOR ECONOMY – EVEN IN THE GREAT DEPRESSION. December industrial production came in down 9.6%, worse than the METI forecast. It is now down almost 21% year over year. METI forecasts a further 4.7% decline in February. The inventory to production ratio soared again. Maybe METI will be correct.

If it is, Japan industrial production will have fallen 28% (non annualized) in four months. It will have fallen by a third in about a year. Nothing in the history of major nations compares. A 28% decline in four months would be more than half of the entire decline in U.S. industrial production over the 3 years and nine months of the U.S. Great Depression.

It would be a greater decline in four months than in any 12 month period in the Great Depression in the U.S. We are literally looking at the unimaginable. (I am attaching the U.S. industrial production index from the Great Depression for comparison).

IT’S A DEPRESSION IN JAPAN – ALREADY – PURE AND SIMPLE.

If this is true, unless President Obama can pull some sort of a miracle out of his rather skinny ass. We are in deep trouble. The reason I say this is because we are in a Globalist Economy, whether we like it or not, and Japan’s failures are our failures as well.

I think it will get much worse, before it gets any better. 🙁

(Via Freedom’s Phoenix)

Pajamas Media goes the way of the 8-Track

This just sucks wet socks.

Via Jeff G. over at Protein Wisdom:

Dear Jeff,

As you know, last September Pajamas Media began a new initiative in Internet television called Pajamas TV. When we started with our RNC coverage from Minneapolis, we noted that we would be in a Beta Phase through the first quarter of 2009. In the last few months we have strengthened the PJTV lineup with shows covering Media Bias, Education Bias, Middle East Update, Sharia and Jihad, Powerline Report, Ask Dr. Helen, Hugh News, Poliwood, Conservatism 2.0, Economy and Finance, National Security, and others.

As the end of the first quarter approaches and we near the production phase of Pajamas TV, we will continue to build our emphasis in this area. As a result we have decided to wind down the Pajamas Media Blogger and advertising network effective March 31, 2009. The PJM portal and the XPressBlogs will continue as is.

Since our ad relationship continues for the time being, you should note that in order to be paid for the 1st quarter of 2009, you must leave the current Pajamas ads up until 12:01AM April 1. We will be sending you information in mid-March on removing the ads. As of April 1, 2009, you will be free to arrange syndication or re-sale deals.

We thank you very much for participating during the formative years of Pajamas Media and we look forward to working with you in other ways. One of those is, of course, Pajamas TV. If you have any ideas in that regard, please do not hesitate to contact us.

Our best wishes in the new year and again our deepest gratitude for your participation in Pajamas Media.

Sincerely,

Roger L. Simon

CEO, Pajamas Media

Jeff is not too amused, neither are many other Bloggers who were using this service as a source of income. I asked about it, they never responded, what I did not know, is the fact that you had to sign a idiotic contract saying that you would only use them for an ad service. Which I happen to think is extremely stupid. Why limit your customers income? That is quite retarded if you ask me.

Exclusivity has a downside, I hate to say it, but BlogAds is doing the same thing, you have to be invited on to use it, and in this economic downturn, elitism is not an opinion, you either have to expand your income potential or you will dry up rather quickly. Not only this, but quite frankly, the Political winds have shifted, big time. Thanks to the beedy-eyed idiot that just want back to Texas, Conservatism has lost its appeal. This is what happens when you base a business model on a political trend. This is why all those souvenir shops in Crawford, Texas, went belly up after the Iraq War turned ugly.

So, while I feel bad for all these people that have lost an income source, I cannot honestly say that I am surprised.

Update: The Gun Toting Liberal offers up a very well written piece on this subject.

Others: The Moderate Voice, Atlas Shrugs, Althouse, The Other McCain, American Power, PoliGazette, Right Wing Nut House, Tools of Renewal, Hot Air, TigerHawk, Instapundit, The Strata-Sphere, Balloon Juice, Culture11, Vox Popoli and The Jawa Report and more Via Memeorandum

From the "Awesomeness" Stack

Earlier today, I received a tweet from John Hawkings over at Right Wing News. Which pointed to a posting over on his Blog. John Hawkings also runs the Conservative Ads over on BlogAds; which you can get great ad prices over there, might want to check that out.

Anyhow, there was this e-mail that John was talking about, that I guess he saw over at DailyKos, that was attributed a Michael Crowley , however Mr. Crowley says he did not write it, but just the same, the posting is quite awesome.

Check it out:

Continue reading “From the "Awesomeness" Stack” →

Sobering Photo of the Day

(via Freedom’s Phoenix)

BlogAds is an Anti-Conservative Owned Business

I haven’t had a good fight in a while, so, I decided to bring something up on this Blog.

Many of you know, that I use BlogAds on this Blog for Advertising. You’ll also notice that not many people have used the service for their advertising needs. I think I might have an idea why.

I was nosing around over on the official BlogsAds Blog and quite frankly, I was quite horrified to what is on that “Company Blog“. There is a great deal of Anti-Conservative, Pro-Obama screed over their Blog.

You can see examples of what I am referring to by going Here, Here, Here and Here.

What I find utterly amazing is the fact that Conservatives even use this service at all. I mean, I am part of the Conservative Hive on BlogAds.

My question is this, how is it, that Conservatives are using a Blog Advertising service who’s owner, (I presume that is who wrote those entries) partakes in the bashing the Republican Party and Conservative values in General?

Quite frankly, I’m sickened by what I read over on that Blog, the owner of BlogAds ought to ashamed of himself and should either remove the postings of Political Nature or close the business down, or at best only accept Liberal Advertising, because quite frankly, taking the money of Conservatives and bashing them on a Company website or Blog is totally hypocritical in this writers opinion.

I am almost sure that the owner of Blogads will most likely delete my account, as a result of bringing this to light. I am sure I will see an e-mail shortly tell me to get lost. But I will not pull this entry. Business owners who partake in this sort of Anti-Conservative rhetoric ought to be exposed and ran out of business.

Trackposted to Nuke’s, Blog @ MoreWhat.com, Woman Honor Thyself, Adam’s Blog, The World According to Carl, DragonLady’s World, The Pink Flamingo, Democrat=Socialist, and Right Voices, thanks to Linkfest Haven Deluxe.