Mitt Romney throws himself out of the running for President in 2012

(H/T to Liberal Values)

I saw this and I could not pass it up.

I’ve already Blogged about another Madison Avenue Conservative who thinks that the Detroit auto worker is a piece of shit. (Who, by the way, removed my trackback, like the little fat coward fuck that he is…) Strike that, it’s still there. My bad. Was looking in wrong place. 😀

Now have another Madison Avenue Conservative coming out against the American Auto worker. Mitt Romney, the idiotic Mormon Freak is now opening his mouth towards the Detroit Auto Worker.

Mormon freak boy writes:

IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

I love cars, American cars. I was born in Detroit, the son of an auto chief executive. In 1954, my dad, George Romney, was tapped to run American Motors when its president suddenly died. The company itself was on life support — banks were threatening to deal it a death blow. The stock collapsed. I watched Dad work to turn the company around — and years later at business school, they were still talking about it. From the lessons of that turnaround, and from my own experiences, I have several prescriptions for Detroit’s automakers.

First, their huge disadvantage in costs relative to foreign brands must be eliminated. That means new labor agreements to align pay and benefits to match those of workers at competitors like BMW, Honda, Nissan and Toyota. Furthermore, retiree benefits must be reduced so that the total burden per auto for domestic makers is not higher than that of foreign producers.

That extra burden is estimated to be more than $2,000 per car. Think what that means: Ford, for example, needs to cut $2,000 worth of features and quality out of its Taurus to compete with Toyota’s Avalon. Of course the Avalon feels like a better product — it has $2,000 more put into it. Considering this disadvantage, Detroit has done a remarkable job of designing and engineering its cars. But if this cost penalty persists, any bailout will only delay the inevitable.

Second, management as is must go. New faces should be recruited from unrelated industries — from companies widely respected for excellence in marketing, innovation, creativity and labor relations.

The new management must work with labor leaders to see that the enmity between labor and management comes to an end. This division is a holdover from the early years of the last century, when unions brought workers job security and better wages and benefits. But as Walter Reuther, the former head of the United Automobile Workers, said to my father, “Getting more and more pay for less and less work is a dead-end street.”

You don’t have to look far for industries with unions that went down that road. Companies in the 21st century cannot perpetuate the destructive labor relations of the 20th. This will mean a new direction for the U.A.W., profit sharing or stock grants to all employees and a change in Big Three management culture.

The need for collaboration will mean accepting sanity in salaries and perks. At American Motors, my dad cut his pay and that of his executive team, he bought stock in the company, and he went out to factories to talk to workers directly. Get rid of the planes, the executive dining rooms — all the symbols that breed resentment among the hundreds of thousands who will also be sacrificing to keep the companies afloat.

Investments must be made for the future. No more focus on quarterly earnings or the kind of short-term stock appreciation that means quick riches for executives with options. Manage with an eye on cash flow, balance sheets and long-term appreciation. Invest in truly competitive products and innovative technologies — especially fuel-saving designs — that may not arrive for years. Starving research and development is like eating the seed corn.

Just as important to the future of American carmakers is the sales force. When sales are down, you don’t want to lose the only people who can get them to grow. So don’t fire the best dealers, and don’t crush them with new financial or performance demands they can’t meet.

It is not wrong to ask for government help, but the automakers should come up with a win-win proposition. I believe the federal government should invest substantially more in basic research — on new energy sources, fuel-economy technology, materials science and the like — that will ultimately benefit the automotive industry, along with many others. I believe Washington should raise energy research spending to $20 billion a year, from the $4 billion that is spent today. The research could be done at universities, at research labs and even through public-private collaboration. The federal government should also rectify the imbedded tax penalties that favor foreign carmakers.

But don’t ask Washington to give shareholders and bondholders a free pass — they bet on management and they lost.

The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.

In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check.

Hey, Mormon freak boy! Care to share how many workers your asshole father laid off, while he was the President of American Motors? Do you also care to share with the rest of the country of how much of a disaster your daddy’s term as Governor of the State of Michigan was? Especially with his aborted run for President of the United States?

I did agree with some of what he wrote like this:

Second, management as is must go. New faces should be recruited from unrelated industries.

[….]

The need for collaboration will mean accepting sanity in salaries and perks. At American Motors, my dad cut his pay and that of his executive team, he bought stock in the company, and he went out to factories to talk to workers directly. Get rid of the planes, the executive dining rooms — all the symbols that breed resentment among the hundreds of thousands who will also be sacrificing to keep the companies afloat.

However, when freak boy writes stuff like this here:

The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.

Yeah, let’s kick all the fucking retirees to the damned curb, let’s get rid of all the fucking unions and let the god damn workers work for minimum wages and not give the middle class to have a chance to have a piece of the American dream. All the while the big three make all the damn money and we the middle class American worker gets screwed. Two Words Romney; fuck you! 😡

Classic Madison Avenue, snobby nosed, fiscal Conservatism, the classic Republican attitude of, “I’ve got mine and screw you.”

That mother fucker Romney had better not run in fucking 2012, he wouldn’t get fucking vote one, at least not from this Moderate Libertarian Conservative, not at all. It just so happens that if the big three here in Detroit crash, the whole fucking area will collapse. But that mother fucking Madison Avenue asshole doesn’t care, he’s got his fucking millions. So, it will not affect him.

The State of Michigan has been in recession since around 2001 or so. unemployment is though damned roof, if we let these companies fail, which they will do, if we do not bail them out. If that happens, the economy will go into a full blown nose-dive and this area will become another damned Russia, people will leave in mass and there will be massive bread-lines, it will make for an horrific event.

But the fucking asshole Madison Avenue Conservatives could give a fuck less, they’ve got theirs. Which is why I could never, ever call myself a fucking Republican, Ever!

I am not a fan of Nationalizing of anything, but we’ll prop banks up, and keep the wealthy rich, but to hell with the middle class auto worker. What idiotic bullshit! 😡

Some people, like Mormon freak boy Mitt Romney ought to be seen and not heard. Period!

Important Announcement From the Blogs 4 Borders Crew!

Jake Delivers a sobering announcement about the Blogs 4 Borders BlogBurst. 🙁

….and here I am unemployed and cannot help. 😥

If you want to help Jake get his show on the road, click here to send him a message. Or go to his YouTube site and leave him a message there.

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Today’s Stock Market Roller Coaster Today

Full Disclosure: I am not a stock expert or even a real trader. I have a Practice account or as it called, a “Paper Trader” account at think or Swim. I simply post this for information purposes only. So, please, don’t sue me, if you read this, do something stupid and loose your butt. Big GrinWinking

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The Dow Jones Industrial Average

The Dow started out at 9:30a.m at –8.69% with a volume of 9437.23. By 10:04a.m.  it was at –3.97% with a volume of 9627.11. from there it dropped to –7.49% 10:48 a.m. Then at 11:26 a.m. the Dow returned to –5.84% from there the Dow tumbled to –8.01% at 12:35P.M. with a volume of 9196.22 It gave one more shot at rebounding to –4.12% @ 14:27. It then shuffled around to –4.25 @ 15:31. and then did a sharp drop to –7.84% with a volume of 9237.63 at close.

Here is a screen shot of the numbers after the ticker machine finally stopped:

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Hopefully tomorrow the market will stabilize.

Gold Price activity today:

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Gold and Silver Sector Index

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Platinum Precious Metals Index

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Dow Plunges, Global Markets suffer as well…

I haven’t posted today, because I have been watching the market and doing a little paper trading (fake money…not real)

Here’s the official story via the AP:

Wall Street tumbled Monday, joining a selloff around the world, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The credit market remained under strain, and investors piled into government bonds. The Dow Jones industrials skidded more than 300 points and fell below 10,000 for the first time in four years.

The markets have come to the sobering realization that the Bush administration’s $700 billion rescue plan won’t work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash.

Here is the Dow Chart:

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The line to the left of the vertical slash, is the market today. Oh yeah, it’s that ugly…

On the other hand, Gold is looking very promising:

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(charts from thinkorswim.com)

My advice to everyone, if you nervous, sell what you’ve got and invest in Gold.

More gold Charts:

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So much for that “Bailout” eh?

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Blogs 4 Borders! 09/29/08

I missed this on Monday. Hopefully I will remember next week….

Our weekly vlog/podcast on illegal immigration and border security. In this weeks edition…

Vigilance Dispatch: Everyone is talking about the massive bailouts. How has illegal immigration fed into the financial crisis that Washington plans to fix using our taxpayer dollars?

100% Preventable! Americans continue to pay the bloody price for open borders, when will the madness end?

Blogs For Borders 09/29/08

Download for your Ipod here.

Make sure to visit this weeks sponsor….

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If you’d like to sponsor a show contact us here.

This has been the Blogs For Borders Video Blogburst. The Blogs For Borders Blogroll is dedicated to American sovereignty, border security and a sane immigration policy. If you’d like to join find out how right here.

Here are some books that I highly recommend that everyone read, related to this subject:

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A very interesting video on our Nation’s banking system

This video, made by the Ludwig Von Mises Institute, makes the case of why the United States of America should go to a 100% gold standard.

I highly recommend that everyone watch this video.

Also, I recommend everyone go to my bookstore and check out the section on the gold standard.

Trackposted to Blog @ MoreWhat.com, Rosemary’s Thoughts, A Blog For All, Right Truth, DragonLady’s World, Shadowscope, Leaning Straight Up, Cao’s Blog, Democrat=Socialist, Conservative Cat, Diary of the Mad Pigeon, , Allie is Wired, Faultline USA, third world county, Woman Honor Thyself, The World According to Carl, Walls of the City, Pirate’s Cove, The Pink Flamingo, Gulf Coast Hurricane Tracker, Wingless, Dumb Ox Daily News, and Right Voices, thanks to Linkfest Haven Deluxe.

 Linkfest Haven, the Blogger's Oasis

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Bailout accord agreement reached

Well, it looks like the lawmakers in Washington D.C. have reached an agreement to bail out Wall Street.

Welcome to Nationalized Banking. I just wonder how high taxes will go to pay for this little bail out?

It is to wonder.

It seems there’s been a great deal of oversight added to the original bill and other good things. So, we’ll see.

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My thoughts on the AIG bailout…

First Fannie May and Freddie Mack and now AIG.

It just seems to me that more and more everyday. The United States of America is starting to resemble the old Soviet Union, with everything being nationalized.

I just wonder how long will it be, before the oil refineries will be nationalized.  

We fought long and hard in Germany and in Japan to defeat communism. Now it seems to be taking our Country over from within.

I would write, God help this Nation. But at this point, that seems a bit moot. Seeing this Nation with it’s liberal Government wanting to eradicate everything and anything even remotely Christian. I am left with nothing to say except to offer the thought that God has forsaken this Nation long ago and has left it to be consumed from within.

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Higher chance of AIG bankruptcy

This cannot be good…

Via Reuters:

Sept 16 (Reuters) – American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) faces heightened probability of a potential bankruptcy filing by the holding company, a Credit Suisse analyst said Tuesday, a day after the insurer’s credit ratings were cut, jeopardizing efforts to raise cash necessary for its survival.

Shares of AIG, once the world’s largest insurer by market value, fell as much as 74 percent to $1.25 in early trade on Tuesday, as investors fretted over the company’s ability to secure desperately needed capital.

"While there is a chance the company can work its way through its liquidity problems if it can secure substantial bridge financing, we think this will be challenging to execute it in the current onerous credit environment," analyst Thomas Gallagher wrote in a note to clients.

Like I said before, if you’re invested in any of these banks. You have my sympathies. 🙁

Up to date numbers:

Dow

10,890.81
-26.70
(-0.24%)

Nasdaq

2,172.85
-7.06
(-0.32%)

S&P 500

1,188.62
-4.08
(-0.34%)

Chart:

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While the temptation to politicize this whole thing is great. This has been coming for years. I just do not think that having a Democrat in the White House would change anything at all.