LET’S REPEAT AUTO BAILOUT ‘WITH EVERY INDUSTRY’
Out on the campaign trail today, Obama threatened to do to the manufacturing industry, what he did to the auto industry, which caused pounding heart palpitations to non union workers all across the nation.
The Washington Free Beacon reported:
President Obama said Thursday he wanted to “do the same thing with manufacturing jobs, not just in the auto industry, but in every industry,” in a Pueblo, Colo. campaign speech.
OBAMA: I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM’s number one again. Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.
Obama’s flunkies at The Politico are already trying to make Obama’s stunning words into a “You didn’t build that”/”I didn’t say that” moment.
Politico has now “fixed” the story, because they claim they were “unclear” about Obama’s intent, about his main thrust. Although they don’t say so, they’re attempting to now say Obama did not mean he wants to heavily invest government money in every industry — even though his actual examples are about precisely that (subsidies for the wind farm industry, for example).
Another case where the Obama Palace Guard actually has a scoop but refuses to report it, or at least report it as such — thus Drudge sweeps in and gets it right.
And Drudge does get it right, despite Politico’s attempt to cover up yet another “I didn’t say that” moment by Obama.
Mark Levin had audio of Obama’s words teed up and ready to go for his Thursday show:
He hat tipped Seton Motley of Less Government, who has written extensively about the auto bailouts on numerous blogs, including Big Government, Newsbusters, and PJ Media.
In Seton’s latest post at PJ tatler, he wrote, General Motors is Imploding — and Team Obama is Lying About It:
Last week we cataloged how much General Motors (GM) likes firing people.
As we pointed out, 2009 was not a good year if you were a Republican-donating GM or Chrysler dealer.
(M)ultiple dealers who have been closed are found to have contributed millions to Republicans and mere hundreds to Obama….
“It became clear to us that Chrysler does not see the wisdom of terminating 25 percent of its dealers. It really wasn’t Chrysler’s decision. They are under enormous pressure from the President (Obama)’s automotive task force,” said attorney Leonard Bellavia.
And Europe has (again) become a GM employee graveyard.
GM intends to shed another 500 managers in Europe, adding to the 8,000 factory workers let go over the past three years as part of a massive though only modestly successful push to cut costs.
GM is serially throwing people over the side in part as a personnel bailing of the sinking ship. But it appears the Bad Ship Bailout is going down even faster than we knew – or they can address.
Sit back and take in the additional cavalcades of terrible Government Motors news.
Two weeks ago, Opel chief Karl-Friedrich Stracke presented numbers to Dan Akerson. Akerson fires him. Opel gets two interim chiefs in a week. Last Thursday, Opel’s new design chief Dave Lyon doesn’t even start his job….A day later, global marketing chief Joel Ewanick suddenly leaves. Instead of wishing him all the best for his future endeavors, GM spokesman Greg Martin puts a knife in Ewanick’s back: “He failed to meet the expectations the company has of an employee.”…
It all looks like (President Obama-appointee CEO) Dan Akerson is panicking. The GM stock is at an all-time low. GM is losing market share. When July numbers will be announced this week, GM won’t look so good, industry oracles say. Mass executions always are great to deflect criticism – for a while.
Speaking of that “all-time low” stock:
We are still stuck with 500+ million shares of the stuff. For us to break even, they must be sold at $53 per. They debuted post-bankruptcy at $33 per. They closed on Tuesday at $19.71 per. Setting us up for a nearly $17 billion loss – just on the stock.
Speaking of those “industry oracles”:
For GM earnings, analysts forecast 74 cents per share, down 52% from a year ago.
Akerson…is getting impatient with the slow pace of GM’s revival.
“Earnings…down 52% from a year ago” isn’t a “slow pace revival.” It is a free fall implosion. Remind you of anything else?
GM is “recovering” – like the entire Obama Economy is “recovering.”
GM is not “roaring back”.