Today, National Right to Work President Mark Mix was published in the Investor's Business Daily exposing how General Motors (GM) and United Autoworker (UAW) union bosses colluded to use taxpayer dollars to "pay back" the taxpayers for the government bail out it received last year:
...GM leaders and the UAW officials who colluded with them to extract $43 billion out of taxpayers in exchange for arguably worthless stock are now patting themselves on the back for paying back on April 21 the balance of a $6.7 billion loan they took out from taxpayers as part of the 2009 bankruptcy package.
In a weekly radio address to the nation late last month, President Obama suggested that the fact that taxpayers have now recouped 14% of the taxes he diverted into GM coffers on their behalf vindicates his decision to bail out GM and the UAW brass.
But ordinary Americans, with whom the GM and Chrysler bailouts have become overwhelmingly unpopular over the past year, are unlikely to agree. Especially not if they learn that GM was able to "pay back" the loan only because it had not yet spent all of the other $43 billion in taxpayer money it raked in last year.
But, as Mix further notes, the mirage that GM and UAW officials are being fiscally responsible with the taxpayer's money is just part of their plan to ask for even more money from the government:
...[T]he apparent motive of Obama-selected GM CEO Ed Whitacre and UAW officials in repaying the $6.7 billion now is to pave the way for the company to secure a new $10 billion loan from taxpayers at an interest rate of just 5%, two points lower than the previous rate, to pay for the retooling of its plants to meet the government's new, stricter fuel-economy standards.
If the GM/UAW "zombie" corporation obtains the new $10 billion government loan, it will end up even more deeply in hock to taxpayers than before, after having gotten good PR and kudos from the president for having paid off its original loan "in full."
Fortunately, the American people are not as easily bamboozled as President Obama and his cohorts in the GM and UAW union hierarchies seem to think they are.
Mix concludes that "the president's fork-tongued reassurances that all is going well with the bailouts are likely to make Americans angrier and angrier as time goes on" because his special deals and political paybacks to his Big Labor buddies are more than American families can bear, and serves no purpose other than to enrich Big Labor’s coffers.
Comments
Ford vs Government Motors
My 1997 F-150 has 225,000 miles on it and it's still going strong. Electric windows work, gauges work, air conditioning and radio work, the engine and transmission still humming along like new!
On the other hand, my 1999 Chevy Express 1500 van is sitting still with 110,000 miles. Air conditioning went out years ago, windows handles are broken, the rear seal on the transmission leaks, side and rear doors have had door handle linkage replaced twice (now I just have a wire I pull to open the doors), rear light harness had to be replaced, starter had to be replaced - the list goes on.
Needless to say, nothing but FORD in my future - unless somehow the sorry-a$$ union gets that company handed it to them, too. UAW, the American public hates you.
umm... Ford workers are UAW
umm... Ford workers are UAW also.
So what, zeemer!!! The UAW
So what, zeemer!!! The UAW has its claws in all of Detroit and the Obama wagon as well. The difference, sleezbag, is that Ford didn't take "taxpayer" money and pay the "loan" off with "taxpayer" money. What a joke!!!
GAFfAlHpJObrV
LDJL6o I'm impressed! You've managed the almost impossible.
Problem with activating account
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Let your dollars do the talking
This spring I needed a new pickup truck and I had a $30,000 budget. I needed V8 towing capacity, 4-wheel-drive and four full-sized doors. It came down to the Silverado, F-Series, Toyota Tundra and Dodge Ram, in about that order. These trucks have much more in-common than differences, it really was a tough choice.
Comparing options-to options the Toyota was several thousand more, GM & Dodge are Government Corporations that should have taken personal responsibility instead latching onto the teat of us tax-payers.
The thought of giving my hard-earned cash to bail-out a union that wouldn't budge when they knew their company was on the ropes just chaffed my butt, and I'm in a union.
In the end my choice was made for me, Ford got the nod, and I couldn't be happier with their product. 100% defect-free.
Want a great vehicle? Buy a Ford for all the right reasons you won't regret it.
Reply to let your tax dollars do the talking
I agree with you that Ford is the way to go due to being an old line American manufacturer who did not accept any of the taxpayers bailouts. If it was fair, then ALL Americans should be given one FREE new car a year from GM or Chrysler as partial payback for the loan they were given. I think the money they were given came to about $36000 per taxpayer so I think getting one new car with a lifetime warranty would be fair; since this will never happen, BUY A FORD!
Truck and quality
GOOD FOR YOU! I used to be a faithful Chevy/GMC truck guy. Since I now own a piece of Government Motors (which I did not want to own) I will never buy another. I expect to see a decline in workmanship and a bunch of crap no one wants to buy due to government involvement.
I believe in buying American as we need the business now more than ever.
Ford makes a fine automobile. I shall stay with them.
let your dollars do the talking
I whole heartily agree. I did the same thing. there is no way that I will buy a GM or Chrysler product and help the unions fund their unfunded pension plans.
Soon Americans will be able to compete
The way this administration is going, hyper-inflation is right around the corner. Soon our standard of living will drop below that of the Japanese and Koreans, making American labor a competitive. The problem is, you probably won't be able to afford to buy a new truck.
Ford, Chevy, Dodge and Oboma
I have always been a Ford man they have always made a great product that will serve you well. That is why they didn't need to be bailed out. GM and Dodge have been infiltrated by Union and political thugs. Oboma is in their pocket Ray Charles cuold see that. That is why I have always said that I would rather have a sister in a cathouse than a brother that drove a Chevy or a Dodge. And if you believe anything that Oboma says you are as blind as Ray Charles. Because you can tell when Oboma is lying just watch for his lips to move. So buy a Ford and vote conservative in November and in 2012 and you will be happy for the rest of your life.
assembled in america
you all are complaining about the bail out i agree but did you think about the fact that that money went to the plants in other countries, what did they do, they took the money and closed plants in the USA now when you open the door of your car/truck does it say assembled in the united states or does it say Canada how about Mexico,I know when i open the door on my truck it say American and i drive a Toyota yes it is a Japaneses company but it puts Americans to work and not Mexicans who want to invade us to get to the fun lunch or dose it say Canada which is still not putting Americans to work so you decide a company that helps us or ones that put non Americans to work and yes ford has plants in both countries
Ford did their dirty work a few years back
the only reason that ford is where it is at now is because they remorgaged their factories a few years back to give them the operating cash they now have. purely a move of the lucky. as for me, i am a Chrysler man and always will be. i bleed Dodge red when i cut myself.
Chrysler Man
I have one I would sell you cheap. As a matter of fact there are five in my neighborhood all with the same problems.
1. Lower control arms replaced every two years
2. Paint not chipping off but flying off the van in large sheets
I am not the on only one with this problem.
3. If you go through standing water to fast the serpentine timing
belt comes off and you must be towed to a garage.
I have a Buick as well and it is no better.
NO MORE GM OR CHRYSLER CARS FOR ME!
Dodge not so good Chevy even worse
Have a 1500 series Ram truck with 2 transmisson in 3 years. It finally got fixed after the owner of the dealership raised hell with Chrysler. When I followed Chryslers customer service all I got was Indians (India that is not native Americans) who saving I cannot help with that but how may I help you otherwise for over 30 days. No more Chryslers nor Garbage Motors (GM) for me. Hey I am still waiting for my warranty repair check from GM for my '85 S-10 piece of crap truck.
FORD is operated like a business
Ford is beating the tar out of GM because of careful planning. Even with BO's help GM can not make it!!
Auto Companies
First of all, I will not bail out nor will I support the UAW and anything it represents, INCLUDING the imitation American.
Since Chrysler and GM are owned by the UAW, it has to be either Ford or something foreign.
By the way - I currently own a Dodge Ram pick-up and am getting rid of it to avoid having to buy a Chrysler part for it. It just isn't worth the re-payment later.
CRC
Buy a Ford
I did!!! F=350
Great choice, I own a 1998
Great choice, I own a 1998 F-150 XLT 4wd, 215000 on it, I live on a back road in Maine, and use the 4wd constantly in the winter, no problems except usual maintainence, and replacing a transmission line that blew out in -30 degree weather!
End run around GM
I let my dollars do the talking too. I love the Dodge Ram pickup, but there is no way I am rewarding GM by giving them my money for a truck when they were fiscally irresponsible and needed to be bailed out - we too are Union and I am also a shareholder - I knew it was a sham when the GM puppet CEO went on TV to announce they were paying back the loan. We aren't stupid - we know the loan was paid back with bail out money - so when will you pay back the rest of the $43 billion? That's our money.
I have no respect for the leader of our country who sells out whoever he needs to payback his political backers so he can proceed with his socialist agenda. We will remember in November. I love my new Ford F250!
Dumping on GM
BUY THE G.M. !!! GOOD VEHICLES. ED WHITAKER IS SOLID- READ HIS RESUME ! HE PUT AT&T BACK TOGETHER & THEY`RE DOING GREAT! GIVE THESE FOLKS A CHANCE. I`VE BEEN DRIVING G.M. PRODUCTS EXCLUSIVELY SINCE 1984.
buying GM
Why? The Unions and the workers and management destroyed GM. Greed and stupidity. If they make such great products why did they go bankrupt. During the bankruptcy the only organizations that got money were management and the union. GM should be giving every tax paying citizen a new car. We own the company, not Obama, not the unions, not the workers who destroyed the company by demanding more and more for less and less. They had their chances. You go ahead and support them...they will treat you well! Ford did not take money from the taxpayer. They make great cars. They are a true business. GM is no better than any government organization. Inept, Stupid, inefficient, cost twice as much and thank they are better than the rest of the world.
Ford v. GM, Chrysler bailout
It is ironic that Ford who was on the ropes a few years ago, because of deep infiltration by homosexuals who turned not only on the customer, but "their" own company (in the best Leninist tradition), should be the only healthy American car company left. I can once again drive a Ford without taping over the name, and hiding behind tinted windows.
I say "amen" let them buy Ford. The *&%#! with Hussein Motors.
Above comment.
You wrote:
It is ironic that Ford who was on the ropes a few years ago, because of deep infiltration by homosexuals who turned not only on the customer...
Which street in Moronville do you live on so I never go there!!
I agree with your statement about Fords but, "infiltrating homosexuals"??!! You've got to be kidding me.
What an ass.
Homosexuals and GM - But DO buy a Ford
Yeah the "homosexual infiltration" comment was more than a little over the top, although I'll certainly not say anything more in the defense of "same sex folks", I'm quite sure that particular Ford fan has a gun rack in the window, a flaming cross tattoo on his arm and possibly a white sheet stashed beneath the seat.
I've owned three purchased new GM trucks. While I lucked out with no major problems - the worst being brakes - other irritataing problems were littered throughout my ownership of them, most commonly electrical.
Purchased a new Ford extended cab three years ago. Have had absolutely NO problems of any kind thus far. I was never crazy about the look of a Ford personally, but hands down on a solidly put together vehicle! Planning on a new truck next year - It'll be a Ford!
I will buy nothing but Ford
I have made a commitment to buy only Ford vehicles from now on. I refuse to spend my money with "Government Motors" (GM) or Chrysler. Those 2 companies should have been allowed to fail. They will never change and we, the taxpayers, will paying for their failed business model from now until eternity. I say no more loans or bailouts and let the cards fall as they may. If they can't hack it, they deserve to go under and disappear.
I only buy Ford's now. I won't ever get another Chevy after I
sell my current truck. I am also boycotting Toyota since they support those Liberal yuppy Audobon Society who are killing the fishing industry in the Outer Banks, NC.
This is the reason our
This is the reason our Founding Fathers left us with our Guns. Obamanation is a lieing Muslim Bastar_ who needs to Resign and leave America for his Birthplace Kenya and take all the Cemocrats ( Communist Party) with him.
Founding Fathers
I agree @ our Founding Fathers did not ever expect our once great country to go to Hell in this manner. All we need is for Obama & Obiden Opelosi & Oreid to continue & nothing will be left. Like we were told long ago we will destroy you from within is coning true.
auto bailout
I will never buy GM again. They shafted the bond holders and have no claim to seek accalades for making a first Q pofit. The union-government joint venture will never see a dime of my purchase cash and I would do whatever is reasonable to stop any additional government funding for this abortion that some call a company.
Ford Truck buyer
Oh, was it also made in Mexico, as 44% are?
Well, as for quality, you haven't had it long enough to say Quality! Will the speed control catch your mexican truck on fire. What American content do you have? Maybe 0 ????????
ford
Funny why so many Mexicans come here for work. A massive effort over the years has been to take our jobs and relocate them in Mexico! Millions and millions of jobs! Now they come here to be feed, schooled and medicated? Chevys from Canada, Dodges and Fords from Mexico? I made th mistake of buying a GM in December and my neighbors really gave me shit for it. I plan to sell it and be done with anything Obama touches. Vote dems out in November and end Obams raign in 12.
Ford Truck
My 2001 Ford F150 has 149000 miles and still running strong. I don't care if it was made in Canada or Mexico, although I would rather see that it is made in Kansas City, as mine was. Illegal immigrants are criminals, but if the truck is made by Mexicans, good. They are good workers. It is just the criminals (illegals) I have an issue with.
Buy FORD
I've had my F-150 now for over three years after driving GM for 31 years and now I can finally hear the radio! That Suburban was so damn loud!
GM/UAW
OK..agree with all the bailout by the crooks was bad. But everytime I hear/read/think of it, I remember the message on our coins..IN GOD WE TRUST..So, I ask God in prayer, often, to deal appropriately with all those concerned. Then I get God's peace by knowing the creator of the Universe is in control. This doesn't mean I'm not active against the bailout program, but also involke the Lord. Ken