Showing posts with label chrysler. Show all posts
Showing posts with label chrysler. Show all posts

Thursday, June 11, 2009

Pay Czar, in Today's News 06.11.09

Pay Czar. WSJ: "The Obama administration scrapped the $500,000 salary cap it proposed for executives at firms receiving large amounts of federal assistance but appointed a pay czar to review, reject and even set pay levels -- with no appeal." (!!!) (Emphasis added.)

"...the new 'special master for compensation' will have broad authority over compensation for senior executives and top 100 earners at American International Group inc, Bank of America corp, Citigroup inc, General Motors Corp, GMAC LLC, Chrysler LLC, and Chrysler Financial." 

The sovietization of the American economy continues. Central planners in Washington now dictate major decisions and pay guidelines for some of the most important corporations. And on the pay question there is no appeal to the planners decisions! Lenin, Stalin and all of them couldn't have arranged their control better.

BTW, the pay oversight is not the key for the cryptocracy. What they are after is a control measure to ensure that their chief executives toe the line on implementing the cryptocracy's desires.

Wednesday, May 27, 2009

In Today's News 05.27.09

The new government-controlled economy.  A few weeks ago someone made the remark that GM now stands for Government Motors.  And how accurate he or she was.  Witness this sentence from today's WSJ:

"General Motors Corp and the United Auto Workers have agreed to a new restructuring plan that would give the union a significantly smaller stake in the company and leave the U.S. government owning as much as 70% of the car maker."  (Emphasis added.)

Such a government take-over would have been inconceivable just a year ago.  The cryptocracy seems to be in a hurry to transform the economy into one its sees as more risk-free.  The cryptocracy via Obama's auto task force has made significant strides in humbling General Motors and Chrysler.  Costs have been cut on all fronts. Whether the cuts are enough to satisfy the bank owners remains to be seen, but it's dubious.  

Saturday, May 16, 2009

in Today's News 05.16.09

1.  Pakistan.  (WSJ) "A two-week-old Pakistani army offensive against Taliban militias is triggering a massive exodus of refugees -- one of the largest such crises since the Indian subcontinent was divided in 1947.  Nearly a million people have abandoned the Swat Valley...according to United Nations officials."

This outrageous human suffering was made in the USA. Hillary Clinton, in her swing through this area of the world, was the first to demand that the Pakistan government begin the offensive now in progress.  The US government then put heavy pressure on the Pakistani to the same purpose.  One has the impression that Pakistani did not want to do it (undoubtedly fearing what has happened), but the Obama administration made it very clear that Pakistan must attack the Taliban or relations with the US were at stake.

And so now there is one of the worst crises in the history of the Indian sub-continent.  This mass of humanity is now being herded into refugee camps that consist of rows of small tents pitched in the blazing sun.  Listen to Antonio Guterres, the UN High Commissioner for Refugees, "Many people are fleeing with nothing.  It will not be possible to meet their needs without massive and rapid help from the international community.  And if help doesn't come, it will be a humanitarian disaster." (!!!)

Will the Obama administration and Mrs. Clinton take responsibility for creating this catastrophe?  Don't count on it.  Will they take the lead in trying to alleviate the human suffering?  Don't count on it.  All that matters in Washington is that the Pakistan government did as they were told and the Taliban was attacked. 

2.  The New Government-Controlled Economy.  The closing of Chrysler and General Motors dealerships gives an indication of why the cryptocracy is now opting for a government-controlled economy. 

The big banks and their owners have been pressuring the auto makers (especially General Motors) for years to dramatically reduce spending.  Wages, health and retirement benefits, bloated dealerships, and inefficient corporate functioning were the targets.  The cryptocracy was driven to distraction over the zillions of dollars that were wasted (from the cryptocracy's viewpoint) on these silly expenditures.

General Motors and the others have made several runs at trying to meet the demands of the bank owners.  All of them pretty much failed.  Failed because of union intransigence, the incredible hide-bound bureaucratic complaceny, and the weight of past decades of glorious American auto-maker success.

It is now clear that the cryptocracy finally lost patience. They created the economic crisis so that emergency governmental action could be taken in regard to various sectors of the economy including to bust up General Motors and others like them. The bank owners obviously decided that the only way to accomplish their aims was to move to a government-directed economy where corporate entities would be under supervision and restraint. And where action would be taken immediately on the demands of the bank owners.

Mere mortals usually think that politics and the economy are evolving normally. The bank owners have a much different view. They believe that many, many changes urgently need to be made.  They are always on the prod to accomplish their secret agenda.  Their outlook is intense; they are always contemplating drastic action to ensure their control, their fortunes, and their investments, and their political agenda.  

Monday, May 11, 2009

in Today's News 05.11.09

Today's Wall Street Journal has a front page article on the Chrysler situation, "U.S. Forced Chrysler's Creditors to Blink."  This piece gives a detailed account of how the government-controlled economy works, and therefore shows where the cryptocracy is heading.  Unfortunately the article is only available on the internet to WSJ subscribers.