Tuesday, December 09, 2008

Congress Starts Nationalizing American Business In The Name Of Good

Bad business is bad for investors, workers and the buying public. Government in business, nationalizing, is worse.

As it used to be said of the Soviet Union, it may also be said of the Unites States government; If you put the government in charge of deserts then there will be a sand shortage soon.

U.S. Could Take Stakes in Big 3
Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the U.S. government a substantial ownership stake in the industry and a central role in its restructuring.

Under terms of the draft legislation, which continued to evolve Monday evening, the government would receive warrants for stock equivalent to at least 20% of the loans any company receives. The company also would have to agree to limits on executive compensation and dividend payments, much like those contained in the government's $700 billion rescue of the financial industry.

In the case of General Motors Corp., such a move could give the government a large stake in the company and may hurt existing shareholders. GM is seeking about $10 billion in short-term loans and has a market capitalization of about $3 billion. The legislation didn't specify what kind of stock the government would take, leaving open the option it could be preferred, common, voting or nonvoting.

Assuming congressional Democrats and the White House come to agreement on the plan, the car industry would be the latest to submit to strict government scrutiny in return for a bailout, joining most prominently the banking sector.

To add insult to injury, the unions which have had a huge hand in paralyzing industry nationwide and also happen to be as corrupt as organized crime, but I repeat myself, now wants an "equity stake" in GM and a seat on the board. This is such blatant blackmail that even Jesse Jackson must be blanching and as such, I think it must be an outrageous bargaining chip.

In a sign of how messy the reorganization could become, the United Auto Workers union is seeking to attach strings to any concessions it makes for the Big Three. Marc McQuillen, president of UAW Local 2404 in Charlotte, N.C., said the union is looking for an equity stake in GM and likely a seat on the company's board. UAW officials in Detroit couldn't be reached for comment.

Any politician that votes for what congress considers a bailout for the UAW auto-industry as described here should be thrown out of office and made to beg on the streets for scraps.

Remember Our Troops Everyday, Show Your Pride On Fridays

(This is an email I received from a veteran. It is making the rounds and I thought I'd help, especially considering the cut and run crowd heading for Washington, DC.)

International Picture of the Year

Here are two very touching photos honored this year

First Place :

First Place Todd Heisler The Rocky Mountain News
When 2nd Lt. James Cathey's body arrived at the Reno Airport , Marines climbed into the cargo hold of the plane and draped the flag over his casket as passengers watched the family gather on the tarmac.
During the arrival of an other Marine's casket last year at Denver International Airport , Major Steve Beck described the scene as so powerful: 'See the people in the windows? They sat right there in the plane, watching those Marines. You gotta wonder what's going through their minds, knowing that they're on the plane that brought him home,' he said 'They will remember being on that plane for the rest of their lives. They're going to remember bringing that Marine home. And they should.'
Second Place:
Second Place
Todd Heisler The Rocky Mountain News
The night before the burial of her husband's body, Katherine Cathey refused to leave the casket, asking to sleep next to his body for the last time. The Marines made a bed for her, tucking in the sheets below the flag. Before she fell asleep, she opened her laptop computer and played songs that reminded her of 'Cat,' and one of the Marines asked if she wanted them to continue standing watch as she slept. 'I think it would be kind of nice if you kept doing it,' she said. 'I think that's what he would have wanted.'
PLEASE KEEP THIS GOING! - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Blue Fridays. Very soon, you will see a great many people wearing blue every Friday. The reason? Americans who support our troops used to be called the 'silent majority'. We are no longer silent, and are voicing our love for God, country and home in record breaking numbers. We are not organized, boisterous or overbearing.
Many Americans, lik e you, me and all our friends, simply want to recognize that the vast majority of America supports our troops. Our idea of showing solidarity and support for our troops with dignity and respect starts this Friday -- and continues each and every Friday until the troops all come home, sending a deafening message that every red-blooded American who supports our men and women afar, will wear something blue. By word of mouth, press, TV -- let's make the United States on every Friday a sea of blue much like a homecoming football game in the bleachers. If every one of us who loves this country will share this with acquaintances, coworkers, friends, and family, it will not be long before the USA is covered in BLUE and it will let our troops know the once 'silent' majority is on their side more than ever, certainly more than the media lets on. The first thing a soldier says when asked 'What can we do to make things better for you?' is: 'We need your support and your prayers.' Let's get the word out and lead with class and dignity, by example, and wear something blue every Friday.