yes.. I have seen a 200% increase in the 'positive' in my life that I accredit to Obama and the choices he's made..Had he not stopped the economic fall.. had he let the auto industry fail at the same time.. we(as a country) would have been destroyed and neither me nor my husband would be working today for more than minimum wage at some fast-food place..if we were lucky enough to get such work.. (and truthfully, I don't think he could..even if he could, he wouldn't have the temperament to last)..
I'm doing better also because of word of mouth with my elderly assistance work and other things, thank's to my initiative. I'm glad you're doing better. How GM being given tax payer money to build and transplant it's operations to China helped anyone escapes me.
http://www.theglobeandmail.com/globe-investor/closing-oshawa-line-could-breach-gm-bailout-conditions/article4358326/?cmpid=rss1(Canada)
http://autonews.gasgoo.com/china-news/summary-shanghai-gm-s-sales-performance-from-2002-120619.shtml(Don't like Romney but they all sound good when they're running to some extent)
The government still owns 26 percent of GM, as it has for almost the last three years. http://www.weeklystandard.com/blogs/government-down-16-billion-gm-bailout_646676.html (I know, I know, Weekly Standard but facts are facts.)
Monday June 18, 2012
GM-Chrysler bailout was a big-ticket move
Taxpayers will lose $23 billion; UAW retirees will gain $23 billion
Advertiser
When General Motors and Chrysler were running out of cash, an $85 billion taxpayer bailout saved the day. This was greeted as great news.
As James Sherk and Todd Zywicki said in a recent column in the Wall Street Journal, "President Obama touts the bailout of General Motors and Chrysler as one of the signature successes of his administration."
You can stop celebrating.
Taxpayers are expected to lose an estimated $23 billion on the deal.The preferential treatment the United Auto Workers received in those bankruptcy cases accounts for the entire loss, the authors say.
"A bedrock principle of bankruptcy law is that creditors with similar claims priority receive equal treatment," they write. Each creditor is entitled to an equal percentage of recovery.
But the administration gave the unsecured claims of the union's Voluntary Employment Beneficiary Association much higher priority that the claims of others.
When the automakers went under, GM owed the retiree benefits association $20.6 billion. Chrysler owed it $8 billion.
The United Auto Workers benefits association got an estimated $12.2 billion more than it would have received had it been treated like the other unsecured creditors."The administration also insulated the UAW from most of the sacrifices that unions usually make in bankruptcy - at taxpayer expense," the authors say.
Because of that, GM still has higher labor costs ($56 an hour) than any of its competitors (approximately $47 an hour).
"The Treasury expects the auto bailout to ultimately cost taxpayers $23 billion," Sherk and Zywicki said.
"The funds diverted to the UAW account for the taxpayers' entire net loss."
Thus was
$23 billion transferred from the pockets of people who cannot retire at 55 and will have no employer-proved health care in retirement to the pockets of UAW members who can.It's just one example of the administration's zeal to serve its political partners in organized labor.
http://www.dailymail.com/Opinion/Editorials/201206170115