Real Estate Bank Owned Distressed Properties,
Short Sales and more
Florida Foreclosures
California
Foreclosures
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New York Foreclosures
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Emperor Obama Forcing
Auto Makers
into
New Obama Car Designs
 April
2009 - General Motors is teaming with Segway, maker of the upright,
self-balancing scooters, to build a new type of two-wheeled vehicle designed
to move easily through congested urban streets.
The Obama Administration is fully
behind new green cars. They say the vehicle could allow people to travel around cities more
quickly, safely, quietly and cleanly, and at a lower total cost. Expect the
Obama Car buyers to get huge incentives and other vehicles to be taxed
highly.
The Obama administration forced out General Motors Chief Executive Rick
Wagoner and the majority of its directors.
The United Auto Workers Union refused to make any more concessions and they
wound up with a 17.5% stake in the new GM. The federal government gets 60%,
the Canadian government gets 12.5% and unsecured bondholders get 10%.
Existing GM shareholders are expected to be wiped out.
The White House slammed Chrysler for its Truck and SUV product lineup
and said they do not have enough products in the pipeline to meet an
expected increase in demand for small cars.
The only successful carmaker in history that was started by national leader
was Volkswagen.
Obama threatens Bank Officials, “My administration is the only thing
between you and the pitchforks.” (which could only mean he controls
the threat of public violence by his statements)
---------------------------------------------------------------------------------------------
Big Democrat Donor Group allowed to keep all
6 Chrysler dealerships open.... Local competitors eliminated by Obama's task
force.
The government is firmly in the business of running companies using taxpayer
dollars, "Does anyone really believe that politicians and bureaucrats in
Washington can successfully steer a multinational corporation to economic
viability? It's time for the administration to fully explain what the
exit strategy is to get the U.S. government out of the board room once
and for all,"
What criteria were used to determine which
dealership would be closed?
How was the list assembled?
Did federal agencies or officials assist Chrysler executives in putting the
list together?
Did any federal agencies or officials see the list before it was released
and did they have to approve it?
Were their any alterations made to the list of dealerships to be closed
prepared by Chrysler and, if there were, why and on what authority were any
the changes, additions or deletions made?
These are fair questions, ones that should be asked in any case, even if the
dealerships to be closed were overwhelmingly owned by major givers to
liberal causes or to Democrats running for office. If ever there was an
issue that demanded transparency, this is it.
GM said it would close 17 factories and parts centers and lop off 20,000
more jobs by the end of 2011 in Michigan, Indiana, Ohio, Tennessee and other
states.
The government-orchestrated shrinkage will cost taxpayers $30 billion, on
top of $20 billion in U.S. funds already put into the company. In exchange,
the U.S. will own 60% of the new GM. In all, the rescue of the car industry
could cost taxpayers close to $100 billion.
Some Republican lawmakers called the move another sign of the
administration's deepening incursion into the private sector. And the risk
remains high that the administration or Congress could meddle in the
company's day-to-day affairs, an experience familiar to banks that took
government bailout cash last fall.
-------------------------------------------------------------------------------------------------------------------
May 19, 2009 - Obama administration
effecting auto emission laws that mean the average vehicle would cost about
$1,300 more. Private analysts say the increase will be more than double
that.
The companies will have to redesign their vehicles faster than
planned to meet the 2016 target, “and that makes for a lot of expense
because you can’t recoup the cost for whatever you’ve invested,”
The rules would require new passenger cars sold in the U.S. to meet an
average mileage requirement of 39 miles per gallon by 2016. Light trucks
would have to deliver an average of 30 mpg. That's a dramatic rise from
current averages--27.5 mpg for cars, 23 mpg for trucks--and would bring the
overall average of cars and light trucks to 35.5 mpg by 2016, four years
earlier than current federal law requires
The rules also will raise the cost of manufacturing new vehicles at a time
when the auto industry is struggling, and Chrysler LLC is in bankruptcy,
where it may soon be joined by General Motors Corp
Unlike under existing rules, auto makers won't be able to boost the fuel
efficiency of some models while leaving others untouched. That's because
standards will be set for each vehicle size and manufacturer.
Questions remain over how the government can persuade car buyers to purchase
the greener and more expensive vehicles, Doubts remain over whether American
consumers are ready for a rapid switch to smaller, fuel-sipping cars. Soon
they will not have much other choice.
"U.S. consumers, do not have the same inclination for small cars as their
European or Asian counterparts,
The action is the “biggest single step to curb
global warming” so says the lobbying environmental group Safe Climate
Campaign.
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