Well, Well, Well,
I can't believe that those pirates did not know that United States is #1 when it comes to violence. It is a sad fact, but still a fact. Did these pirate think " They don't know me... I am from a village so small it don't even have a name. I am hard. I, Joe Pirate am not afraid of the US punk bitches!"
then,
Pop, pop, pop
just like that .... seconds elapse ... now I was not there, but because I watch TV and know how we train our defenders; I am betting head shots.
Now, I do expect, unfortunately, there would be those who think this action is wrong to kill because the taking of life... whatever... you are wrong.
OK I addressed it.
Now, of course there is hard talk of retaliation from the pirates. Going to go after the American ships more aggressively. Now, if I remember correctly, this is how US negotiates with terrorists and criminal elements, so the threat of privacy or Terror on the High Seas is something we are committed to fighting.
As I look at the words terrorists and criminal elements the more the words begin to equate to each other but in a inverted way. The terrorist action is a crime, so they are criminals. Since they are criminals they tend to terrorize the community at large with the heinous possibilities that could happen.
Monday, April 13, 2009
Wednesday, March 25, 2009
Prime Minister Mirek Topolanek of the Czech Republic
Not too many Americans will know this guy, but right now he is President of the European Union. Which sounds a lot more important than it is. It is a rotating presidency of every 6 months, but anyway...
This is what he said about the US solution.
"The president of the European Union yesterday ripped the Obama administration's economic policies, calling its massive deficit spending and bank bailouts "a road to hell.""
Washington Post / March 26, 2009 EU head blasts US economic policies
Now this may be coincidence, but
"The collapse of the Czech government threatened a new setback for the European Union’s stalled governing treaty, distracting the bloc’s leadership"
Topolanek, 52, was demoted to a caretaker role by this week’s no-confidence vote, exposing his political weakness as he pleads with the Czech Senate to ratify the treaty.
I don't know what this means and interests me even less, but I just wanted to share this little news...
the moral of the story is ... bad mouth America and see how far that gets you.
Been a year Now.. March 25 2010 what an moron.
This is what he said about the US solution.
"The president of the European Union yesterday ripped the Obama administration's economic policies, calling its massive deficit spending and bank bailouts "a road to hell.""
Washington Post / March 26, 2009 EU head blasts US economic policies
Now this may be coincidence, but
"The collapse of the Czech government threatened a new setback for the European Union’s stalled governing treaty, distracting the bloc’s leadership"
Topolanek, 52, was demoted to a caretaker role by this week’s no-confidence vote, exposing his political weakness as he pleads with the Czech Senate to ratify the treaty.
I don't know what this means and interests me even less, but I just wanted to share this little news...
the moral of the story is ... bad mouth America and see how far that gets you.
Been a year Now.. March 25 2010 what an moron.
Tuesday, March 10, 2009
Mrs.Madoff
Well, let me first state that I have not been to NY and have not had any dealings with your family business.
Yes, it was your family business. Your husband owned and worked at his job. To know or not know that fraud was being produced is of no value. I believe there are lots of wifes out there that don't know what thier husband does and how he earns his pay. This ignorance does not stop the wives from spending the money.
OK, now that we have this established...moving on.
Now because I am just a hack at this.
Madoffs Shared Much; Question Is How Much
By DAVID SEGAL and ALISON LEIGH COWAN
Published: January 14, 2009
"To friends, they were “Bernie-and-Ruth” or “Ruth-and-Bernie,” a pair so inseparable that you wouldn’t mention one without the other. After nearly 50 years of marriage, they worked in the same Midtown Manhattan office, they traveled together, and they dined together night after night, just the two of them."
This is how the article starts. Well let me say what a beautiful marriage; and idealic marriage. Good Show.
“All I will say on the subject is that it’s hard to imagine that she could live with the guy for 50 years and have no inkling,” says Donald Rosenzweig, a childhood friend of Ruth’s and an investor in Madoff Investment Securities.
Well, any husband who has been married more than 7 years knows that your wife is so wired in to your life that all he has to do is get up in the morning and she can tell you what to do the rest of the day.
But is was the instances that of how people got pulled in. Ruth, sweetie, you state
In the cookbook, she describes her role as “director” in Madoff Securities
“Bernie and I worked together in the investment business he founded in 1960.”
very damning evidence.
sweetie, you get nothing. the fund investors, you know some of them, get it all. Well, that is the only way you can prove your innocence to the fraud. You are left with your health and freedom. Don't worry if Otomom can get help you will too.
Update. 03/12/2009
Bernie went straight to jail today. Oh and he kept quite and stuck to the story that it was all him and nobody else. The first thing I am thinking is ...why would he just quit like this. How is his health? Is he terminal? Because this fraud has gone on so long and gotten so large that he could have rode it out longer and fought it with lawyers ...filed bankruptcy...lots of stall tactics available. why?
I mean he obviously has access to wealth. Lived in a penthouse and has millions of "other", separate money. sorry I can't say that without laughing.
Mrs. Madoff is petitioning to retain an estimated $65 million fortune that she says are her own assets.
So why quit now. There was billion left...The stock market was has lost all the money it gained in the 18 years .... well so did you ... why not doctor up invoices with losses? something funky chicken going on here...
Update-
Madoff Homes, Cash, Bonds Are Subject to Forfeiture, U.S. Says
By David Glovin
Bloomberg.com
"...The government’s “notice of intent to seek forfeiture” is not an actual seizure request. Rather, it alerts U.S. District Judge Denny Chin and the Madoffs that prosecutors will be filing documents seeking seizure."
Oh modest living for a NY Banker/Investor Manager is :
"Prosecutors say they’ll also try to seize the Madoffs’ ownership interest in their Manhattan apartment; their land, buildings and personal property in Montauk, West Palm Beach, and Cap d’Antibes, France; a sport yacht called “Bull;” two fishing boats and a third vessel in Ruth Madoff’s name; and four cars, including two Mercedes-Benz automobiles.
Houses, Jewelry, Boats
In the Dec. 31 court filing, the Madoffs said their Montauk home was worth $3 million, their Palm Beach home $11 million, and their Cap d’Antibes home $1 million. Furniture, household goods and art in their four dwellings were worth $9 million. They valued jewelry at $2.6 million and their boats at more than $10 million.
Dassin said the government will also seek a $39,000 Steinway piano and $65,000 worth of silverware, owned by Ruth Madoff and located in the Manhattan apartment."
The furniture was worth more than 2 of the houses. She dressed like "Barbie" if she had $2.6 million in jewelry. Must have been like living in a museum. The sport yacht, the Mercedes-Benz...ah the life.
I would predict that the government will get what it is "seeking". I guess it is time for you to call in those favors you doled out over the last 20 years or so. You did dole out "favors" didn't you? Because I would guess you are going to have to get a new job, but don't work for someone like yourself: a housekeeper at their Manhattan penthouse apartment, where Mr. Madoff served his house arrest, was just a $2,600 a month expense.
The fraud is so obvious now. Everything was put in your name. The yachts, all the property.
Yes, it was your family business. Your husband owned and worked at his job. To know or not know that fraud was being produced is of no value. I believe there are lots of wifes out there that don't know what thier husband does and how he earns his pay. This ignorance does not stop the wives from spending the money.
OK, now that we have this established...moving on.
Now because I am just a hack at this.
Madoffs Shared Much; Question Is How Much
By DAVID SEGAL and ALISON LEIGH COWAN
Published: January 14, 2009
"To friends, they were “Bernie-and-Ruth” or “Ruth-and-Bernie,” a pair so inseparable that you wouldn’t mention one without the other. After nearly 50 years of marriage, they worked in the same Midtown Manhattan office, they traveled together, and they dined together night after night, just the two of them."
This is how the article starts. Well let me say what a beautiful marriage; and idealic marriage. Good Show.
“All I will say on the subject is that it’s hard to imagine that she could live with the guy for 50 years and have no inkling,” says Donald Rosenzweig, a childhood friend of Ruth’s and an investor in Madoff Investment Securities.
Well, any husband who has been married more than 7 years knows that your wife is so wired in to your life that all he has to do is get up in the morning and she can tell you what to do the rest of the day.
But is was the instances that of how people got pulled in. Ruth, sweetie, you state
In the cookbook, she describes her role as “director” in Madoff Securities
“Bernie and I worked together in the investment business he founded in 1960.”
very damning evidence.
sweetie, you get nothing. the fund investors, you know some of them, get it all. Well, that is the only way you can prove your innocence to the fraud. You are left with your health and freedom. Don't worry if Otomom can get help you will too.
Update. 03/12/2009
Bernie went straight to jail today. Oh and he kept quite and stuck to the story that it was all him and nobody else. The first thing I am thinking is ...why would he just quit like this. How is his health? Is he terminal? Because this fraud has gone on so long and gotten so large that he could have rode it out longer and fought it with lawyers ...filed bankruptcy...lots of stall tactics available. why?
I mean he obviously has access to wealth. Lived in a penthouse and has millions of "other", separate money. sorry I can't say that without laughing.
Mrs. Madoff is petitioning to retain an estimated $65 million fortune that she says are her own assets.
So why quit now. There was billion left...The stock market was has lost all the money it gained in the 18 years .... well so did you ... why not doctor up invoices with losses? something funky chicken going on here...
Update-
Madoff Homes, Cash, Bonds Are Subject to Forfeiture, U.S. Says
By David Glovin
Bloomberg.com
"...The government’s “notice of intent to seek forfeiture” is not an actual seizure request. Rather, it alerts U.S. District Judge Denny Chin and the Madoffs that prosecutors will be filing documents seeking seizure."
Oh modest living for a NY Banker/Investor Manager is :
"Prosecutors say they’ll also try to seize the Madoffs’ ownership interest in their Manhattan apartment; their land, buildings and personal property in Montauk, West Palm Beach, and Cap d’Antibes, France; a sport yacht called “Bull;” two fishing boats and a third vessel in Ruth Madoff’s name; and four cars, including two Mercedes-Benz automobiles.
Houses, Jewelry, Boats
In the Dec. 31 court filing, the Madoffs said their Montauk home was worth $3 million, their Palm Beach home $11 million, and their Cap d’Antibes home $1 million. Furniture, household goods and art in their four dwellings were worth $9 million. They valued jewelry at $2.6 million and their boats at more than $10 million.
Dassin said the government will also seek a $39,000 Steinway piano and $65,000 worth of silverware, owned by Ruth Madoff and located in the Manhattan apartment."
The furniture was worth more than 2 of the houses. She dressed like "Barbie" if she had $2.6 million in jewelry. Must have been like living in a museum. The sport yacht, the Mercedes-Benz...ah the life.
I would predict that the government will get what it is "seeking". I guess it is time for you to call in those favors you doled out over the last 20 years or so. You did dole out "favors" didn't you? Because I would guess you are going to have to get a new job, but don't work for someone like yourself: a housekeeper at their Manhattan penthouse apartment, where Mr. Madoff served his house arrest, was just a $2,600 a month expense.
The fraud is so obvious now. Everything was put in your name. The yachts, all the property.
Monday, February 23, 2009
Legalization of Marijuana in CA
A freshman alderman with 3 months on the job experience presented a bill to legalize marijuana for recreational use. Well, Assemblyman Tom Ammiano of San Francisco nice to meet you.
To quickly serve up the financial impact of such a tax was smart. To pin the current California economic situation should help provide the lift needed to get over the first and biggest obstacle: legitimacy.
Update March 25 2010
The supporters to legalize the use of marijuana got enough signatures to put in on the November Ballot.
Told you, Tom Anniano was going places.
To quickly serve up the financial impact of such a tax was smart. To pin the current California economic situation should help provide the lift needed to get over the first and biggest obstacle: legitimacy.
Update March 25 2010
The supporters to legalize the use of marijuana got enough signatures to put in on the November Ballot.
Told you, Tom Anniano was going places.
Tuesday, December 9, 2008
Illinois Government Scandal
Democratic Illinois Gov. Rod Blagojevich was arrested for corruption charges.
Apparently, being a governor just does not pay enough, have the right amount of benefits or have a good enough retirement plan.
nice article from the Wall Street Journal. you know how i roll.
Highlights of the Blagojevich Corruption Charges
Susan Davis reports on politics.
Democratic Illinois Gov. Rod Blagojevich and his chief of staff, John Harris, were arrested today in Chicago amid charges of political corruption. The two were charged with conspiracy to commit mail and wire fraud and solicitation of bribery. According to the Justice Department, the two men allegedly engaged in “ongoing criminal activity” including:
–Conspiring to obtain personal financial gain through the appointment to fill President-elect Barack Obama’s U.S. Senate seat. According to the indictment, Blagojevich sought a highly paid job at either a nonprofit foundation or labor organization, as well as a job for his wife on a corporate board where she would earn at least $150,000 a year.
well i found this nice article that tells me Rod was pulling in about $155,000 in 05/07 and was ranked 7th highest paid. Arnold is #1, but he gives his check back to the state.
Govs' salaries range from $1 to $206,500
By Andrew Knapp, Special to Stateline.org
"“It’s a good political ploy to (not accept a salary),” said Thad Beyle, a University of North Carolina professor who studies U.S. governors. He said politicians run for the top state job not for the money, but sometimes to parlay the post into higher office, including the presidency. Four of the last five U.S. presidents served in the governor’s office before the Oval Office. “It’s just the next step to bigger things,” Beyle said."
this is a good article, but knowing what we know now a year later and the trouble going on.
check it out the Disgraced NY Gov. Eliot Spitzer made the article.
"A list of 2007 gubernatorial salaries compiled by the Council of State Governments shows the largest at $206,500 in California, though the governor doesn’t accept it, and the smallest at $70,000 in Maine, where the governor hasn’t gotten a raise in 20 years. At $179,000, New York Gov. Eliot Spitzer (D) draws the largest salary among governors who actually accept one."
Well, we know where some of his wages went.
All I can do is shake my head.
Live in a mansion. State pays all the household bills.
24 armored guard.
sign bills in State Law.
pardon people.
Set policy.
create jobs.
enact programs that spend millions of dollars.
command the national guard.
people listen to what you have to say.
people love you.
people hate you.
Well anyway. I can only say that Illinois has a major headache because of this.
UPDATE
The Illionis state house voted to impeach. of course he is fighting to the finish.
2-17-09
The former governor has not been heard from since...,but the governor's selection for US Senator has made some news... Apparently, Mr. Burris was not entirely truthful as to his dealings with the disgraced former governor.
Per this nice story :
Burris Admits to Fundraising Attempt
Senator Now Says He Tried to Solicit Money for Blagojevich
By Peter Slevin
Washington Post Staff Writer
Wednesday, February 18, 2009; Page A03
said that he tried to start something, but nobody was helping so he quit helping.
"In the latest in a series of shifting accounts of his conduct, Sen. Roland W. Burris (D-Ill.) told reporters that he tried to raise money for then-Gov. Rod Blagojevich at the same time he was asking Blagojevich to appoint him to the Senate.
Burris said he contacted "some people" about holding a fundraiser at the request of Blagojevich's brother, Robert, only to learn that no one was willing to help the governor. He said he later changed his mind, raised no money and contributed none.
The account to reporters in Peoria, Ill., was Burris's fifth version of his contacts with close associates of Blagojevich and the first time he acknowledged trying to raise money for the former governor, who was arrested and forced from office on corruption charges. "
Damn It!
that is all I got for now on this.
Apparently, being a governor just does not pay enough, have the right amount of benefits or have a good enough retirement plan.
nice article from the Wall Street Journal. you know how i roll.
Highlights of the Blagojevich Corruption Charges
Susan Davis reports on politics.
Democratic Illinois Gov. Rod Blagojevich and his chief of staff, John Harris, were arrested today in Chicago amid charges of political corruption. The two were charged with conspiracy to commit mail and wire fraud and solicitation of bribery. According to the Justice Department, the two men allegedly engaged in “ongoing criminal activity” including:
–Conspiring to obtain personal financial gain through the appointment to fill President-elect Barack Obama’s U.S. Senate seat. According to the indictment, Blagojevich sought a highly paid job at either a nonprofit foundation or labor organization, as well as a job for his wife on a corporate board where she would earn at least $150,000 a year.
well i found this nice article that tells me Rod was pulling in about $155,000 in 05/07 and was ranked 7th highest paid. Arnold is #1, but he gives his check back to the state.
Govs' salaries range from $1 to $206,500
By Andrew Knapp, Special to Stateline.org
"“It’s a good political ploy to (not accept a salary),” said Thad Beyle, a University of North Carolina professor who studies U.S. governors. He said politicians run for the top state job not for the money, but sometimes to parlay the post into higher office, including the presidency. Four of the last five U.S. presidents served in the governor’s office before the Oval Office. “It’s just the next step to bigger things,” Beyle said."
this is a good article, but knowing what we know now a year later and the trouble going on.
check it out the Disgraced NY Gov. Eliot Spitzer made the article.
"A list of 2007 gubernatorial salaries compiled by the Council of State Governments shows the largest at $206,500 in California, though the governor doesn’t accept it, and the smallest at $70,000 in Maine, where the governor hasn’t gotten a raise in 20 years. At $179,000, New York Gov. Eliot Spitzer (D) draws the largest salary among governors who actually accept one."
Well, we know where some of his wages went.
All I can do is shake my head.
Live in a mansion. State pays all the household bills.
24 armored guard.
sign bills in State Law.
pardon people.
Set policy.
create jobs.
enact programs that spend millions of dollars.
command the national guard.
people listen to what you have to say.
people love you.
people hate you.
Well anyway. I can only say that Illinois has a major headache because of this.
UPDATE
The Illionis state house voted to impeach. of course he is fighting to the finish.
2-17-09
The former governor has not been heard from since...,but the governor's selection for US Senator has made some news... Apparently, Mr. Burris was not entirely truthful as to his dealings with the disgraced former governor.
Per this nice story :
Burris Admits to Fundraising Attempt
Senator Now Says He Tried to Solicit Money for Blagojevich
By Peter Slevin
Washington Post Staff Writer
Wednesday, February 18, 2009; Page A03
said that he tried to start something, but nobody was helping so he quit helping.
"In the latest in a series of shifting accounts of his conduct, Sen. Roland W. Burris (D-Ill.) told reporters that he tried to raise money for then-Gov. Rod Blagojevich at the same time he was asking Blagojevich to appoint him to the Senate.
Burris said he contacted "some people" about holding a fundraiser at the request of Blagojevich's brother, Robert, only to learn that no one was willing to help the governor. He said he later changed his mind, raised no money and contributed none.
The account to reporters in Peoria, Ill., was Burris's fifth version of his contacts with close associates of Blagojevich and the first time he acknowledged trying to raise money for the former governor, who was arrested and forced from office on corruption charges. "
Damn It!
that is all I got for now on this.
Thursday, December 4, 2008
Auto Industry Bail-Out
Ok. Hmmm. No.
I am going to have deny the request.
2 of the 3 are being run by a chief executives that are "new" the the auto business. It is painfully obvious that these guys have no clue how to sell cars to the American buying public. Obviously, it is much different than just being a dominate manufacture in an transportation industury (Boeing) or selling multiple and/or bulk units of identical products to the general public at low margin (Home Depot). Apparrently, the actual experience of overcoming the objections of the customer to the sale of your vehicle could have helped guide you to learn how to sell your vehicle to your customer.
Then this gimmick ploy I read somewhere that Chrysler said its chief executive annual pay is $1.
Well, guess what.
When you work on a car lot and you do not sell many cars your pay check not much more than that.
Not like he needed the money anyway ... i found this
Seeing Red Over a Golden Parachute
Home Depot's CEO Resigns, And His Hefty Payout Raises Ire
By Ylan Q. Mui
Washington Post Staff Writer
Thursday, January 4, 2007; Page D01
Robert L. Nardelli has abruptly resigned as chairman and chief executive of Home Depot, pocketing a lavish severance package and leaving shareholders with a stock that has languished even as sales have nearly doubled during his six-year tenure.
In a statement released yesterday, Home Depot's board of directors and Nardelli said they "mutually agreed" to the resignation, which took effect Tuesday. Under the terms of a separation agreement negotiated when he joined the company in 2000, Nardelli, 58, is to receive about $210 million in cash and stock options, including a $20 million severance payment and retirement benefits of $32 million.
then in a different article
Robert Nardelli named CEO of Chrysler
Under the terms of the deal for Cerberus to buy Chrysler, the ex-Home Depot chief took the helm at the struggling carmaker.
FORTUNE Magazine
By Katie Benner, Fortune reporter
August 6 2007: 12:37 AM EDT
(Fortune) -- As the deal to sell Chrysler to Cerberus Capital Management finally came to a close on Friday, there was one rather salient fact that slipped under the radar. Robert Nardelli was appointed Chrysler's chairman and chief executive officer upon the deal's completion.
Chrysler is American again
That's right. Ceberus has confirmed that the disgraced former CEO of Home Depot (Charts, Fortune 500), who became the poster child for excessive CEO compensation, has taken the reigns at Chrysler. On the day the deal was finalized, August 3, Nardelli was elected to the Chrysler board. Soon after, the directors appointed him chairman and chief executive.
This is just me cutting and pasting articles, but from respected published sources. Because that is how I roll.
Main Entry: disgraced
Part of Speech: adjective
Definition: discredited
Synonyms: in disgrace, dishonored, degraded, demoted, shamed, downtrodden,
humiliated, discharged, defrocked, mocked, abject,
down and out, tarred and feathered
http://thesaurus.reference.com/browse/disgraced
If the editors at FORTUNE Magazine approved the use of this adjective what are you to think?
Now on to Ford's CEO
well according to this web page
http://www.forbes.com/lists/2008/12/lead_bestbosses08_Alan-R-Mulally_N5DJ.html
a million dollars a month. 2nd year on the job. wow Mr. Wizard what have you brought to the table as a success? Do you have a clue how many commission vouchers would have to be earned to generate $1,000,000.00? per month, but to add to the difficultly you have to sell the Ford product to do it. Let's just say a car salesman earns $333 average for every new Ford Product he sold. Well lets see... 3003 new cars each month.
I really have lost interest in beating on this guy.
Ok this is how it should go down. GM gets the loan it wants. Ford said it did not need any money and Chrysler gets nothing.
Sen. Bob Corker, R-Tenn. thinks Chrysler is just trying to get the loan to stay in business long enough to be bought by another automaker and I agree.
Update:
WSJ reports that this bailout may come in the form of ownership positions that Rich Uncle Sam would get in the auto industry for the billions invested. I like this idea better than just handing billions of dollars to management with this track record. I can see the high fuel efficient cars being made. This battery challenge that is stumping the progress of electric cars would be solved soon. This new power source/container is very important to the world's future.
Update: 2/17/09
Hot off the press..
GM, Chrysler seek more gov't aid, to cut more jobs
By TOM KRISHER and KEN THOMAS – 40 minutes ago
DETROIT (AP) — "General Motors and Chrysler said Tuesday their request for federal aid ballooned to a staggering $39 billion — only months after receiving billions in loans — in new plans that envision massive job losses and intense restructuring to survive a deepening recession."
"General Motors Corp. presented a survival plan that calls for cutting a total of 47,000 jobs globally and closing five more U.S. factories, a move that represents the largest work force reduction announced by a U.S. company in the economic meltdown. Chrysler LLC said it will cut 3,000 more jobs and stop producing three vehicle models."
Now the best thing to do is let these 2 companies break up and reform again under a new name. These companies are too big to be managed. It might have been possible to save these two companies with "car guys" leading the charge, but all they have are suits.
Sales have not improved. They want to fire/lay-off 40,000 anyway. Obviously, this is too much. I envision separate companies. Each would grow on its own merits.
Update
3/16/09
Chrysler is asking for another $5,000 million on top of the $4,000 million it received recently. So Cerrius this management company is basically asking for same amount it invested to save this wreck. I say total it. Good Bye... and where is my $4 billion dollars? This is what you get when you want to play car dealer.
The management team may be good at selling something, but it is not good at selling cars.
Update 3/31/09
O.K. Rick Wagoner resigned. Now GM has 60 days to come up with a better plan. Chrysler has 30 days to forge a deal with Fiat. The US government is backing the warranties of these companies.
People in Michigan are upset that GM's CEO got fired and Chrysler has 30 days. Well, let me clue you in on something. Chrysler was doomed a long time ago. If the government would not have came in saved it a 2d time it would have died in couple of months ago. The management of Chrysler has 30 days to get it's money out. As for the firing. The CEO of failed company always loses his job. Just like the 40,000 he laid off recently. He too knows how it feels and what it is like to be jobless.
I told you so.
Update 4/26/09
Back in February I asked Why are not these car companies broken up?
Apparently, there must be legal issues, but when the very government is so heavily invested in the companies would they even have to change the law? I mean really, the government, being the largest shareholder or majority owner just "tink" break it up. At least there would be more administrative positions opening up. Each brand would need it's own independent administration, design and marketing teams. I heard there are enough idle factories that could be tapped if needed.
Now what this does is risky, but isn't selling a brand the same as spinning it off?
Where is the money? Well, they are bank rolling it now. New term for me... Cash Burn It is funny because this definition I found make references to "start-up" companies.
Burn rate
"Used in venture capital financing to refer to the rate at which a startup company expends capital to finance overhead costs prior to the generation of positive cash flow." thefreedictionary.com
If Saturn, Saab, Hummer and Pontiac could not survive on there own then they die. Oh Cadillac and the rest all go solo too plus R&D now solo. Bell/Lucent Labs anyone?
Sure it can charge a flat rate for services each company can invest what it needs.
Well the union debt will have to backed up by the productivity of the current worker. The union will have a ownership position in the companies of it choice or each...whatever details,
but the point is...
Yesterday's worker is directly dependent on today's worker.
What the irony of it all is... the workers become the owners and now the workers become thier own proplem. At least that is what I get when you hear the current management access this problem they are experience.
Then, I guess this question could be directed at the union.
Are you ready to invest in yourself?
Update: 06/23/09
Well, both companies declare bankruptcy. The dealership network was "trimmed" back on both companies.
China buys Hummer, Some high-end European automaker buys SAAB, Saturn got sold to the Penske Organization, Pontiac just goes away and dies ... I think... The US government has a majority ownership in GM. the unions own most of Chrysler with Fiat getting a 20-30% cut.
Ford just received a 5,800 million dollar loan for new car technology. Nissan got a loan and so did Tesla.
I am going to have deny the request.
2 of the 3 are being run by a chief executives that are "new" the the auto business. It is painfully obvious that these guys have no clue how to sell cars to the American buying public. Obviously, it is much different than just being a dominate manufacture in an transportation industury (Boeing) or selling multiple and/or bulk units of identical products to the general public at low margin (Home Depot). Apparrently, the actual experience of overcoming the objections of the customer to the sale of your vehicle could have helped guide you to learn how to sell your vehicle to your customer.
Then this gimmick ploy I read somewhere that Chrysler said its chief executive annual pay is $1.
Well, guess what.
When you work on a car lot and you do not sell many cars your pay check not much more than that.
Not like he needed the money anyway ... i found this
Seeing Red Over a Golden Parachute
Home Depot's CEO Resigns, And His Hefty Payout Raises Ire
By Ylan Q. Mui
Washington Post Staff Writer
Thursday, January 4, 2007; Page D01
Robert L. Nardelli has abruptly resigned as chairman and chief executive of Home Depot, pocketing a lavish severance package and leaving shareholders with a stock that has languished even as sales have nearly doubled during his six-year tenure.
In a statement released yesterday, Home Depot's board of directors and Nardelli said they "mutually agreed" to the resignation, which took effect Tuesday. Under the terms of a separation agreement negotiated when he joined the company in 2000, Nardelli, 58, is to receive about $210 million in cash and stock options, including a $20 million severance payment and retirement benefits of $32 million.
then in a different article
Robert Nardelli named CEO of Chrysler
Under the terms of the deal for Cerberus to buy Chrysler, the ex-Home Depot chief took the helm at the struggling carmaker.
FORTUNE Magazine
By Katie Benner, Fortune reporter
August 6 2007: 12:37 AM EDT
(Fortune) -- As the deal to sell Chrysler to Cerberus Capital Management finally came to a close on Friday, there was one rather salient fact that slipped under the radar. Robert Nardelli was appointed Chrysler's chairman and chief executive officer upon the deal's completion.
Chrysler is American again
That's right. Ceberus has confirmed that the disgraced former CEO of Home Depot (Charts, Fortune 500), who became the poster child for excessive CEO compensation, has taken the reigns at Chrysler. On the day the deal was finalized, August 3, Nardelli was elected to the Chrysler board. Soon after, the directors appointed him chairman and chief executive.
This is just me cutting and pasting articles, but from respected published sources. Because that is how I roll.
Main Entry: disgraced
Part of Speech: adjective
Definition: discredited
Synonyms: in disgrace, dishonored, degraded, demoted, shamed, downtrodden,
humiliated, discharged, defrocked, mocked, abject,
down and out, tarred and feathered
http://thesaurus.reference.com/browse/disgraced
If the editors at FORTUNE Magazine approved the use of this adjective what are you to think?
Now on to Ford's CEO
well according to this web page
http://www.forbes.com/lists/2008/12/lead_bestbosses08_Alan-R-Mulally_N5DJ.html
a million dollars a month. 2nd year on the job. wow Mr. Wizard what have you brought to the table as a success? Do you have a clue how many commission vouchers would have to be earned to generate $1,000,000.00? per month, but to add to the difficultly you have to sell the Ford product to do it. Let's just say a car salesman earns $333 average for every new Ford Product he sold. Well lets see... 3003 new cars each month.
I really have lost interest in beating on this guy.
Ok this is how it should go down. GM gets the loan it wants. Ford said it did not need any money and Chrysler gets nothing.
Sen. Bob Corker, R-Tenn. thinks Chrysler is just trying to get the loan to stay in business long enough to be bought by another automaker and I agree.
Update:
WSJ reports that this bailout may come in the form of ownership positions that Rich Uncle Sam would get in the auto industry for the billions invested. I like this idea better than just handing billions of dollars to management with this track record. I can see the high fuel efficient cars being made. This battery challenge that is stumping the progress of electric cars would be solved soon. This new power source/container is very important to the world's future.
Update: 2/17/09
Hot off the press..
GM, Chrysler seek more gov't aid, to cut more jobs
By TOM KRISHER and KEN THOMAS – 40 minutes ago
DETROIT (AP) — "General Motors and Chrysler said Tuesday their request for federal aid ballooned to a staggering $39 billion — only months after receiving billions in loans — in new plans that envision massive job losses and intense restructuring to survive a deepening recession."
"General Motors Corp. presented a survival plan that calls for cutting a total of 47,000 jobs globally and closing five more U.S. factories, a move that represents the largest work force reduction announced by a U.S. company in the economic meltdown. Chrysler LLC said it will cut 3,000 more jobs and stop producing three vehicle models."
Now the best thing to do is let these 2 companies break up and reform again under a new name. These companies are too big to be managed. It might have been possible to save these two companies with "car guys" leading the charge, but all they have are suits.
Sales have not improved. They want to fire/lay-off 40,000 anyway. Obviously, this is too much. I envision separate companies. Each would grow on its own merits.
Update
3/16/09
Chrysler is asking for another $5,000 million on top of the $4,000 million it received recently. So Cerrius this management company is basically asking for same amount it invested to save this wreck. I say total it. Good Bye... and where is my $4 billion dollars? This is what you get when you want to play car dealer.
The management team may be good at selling something, but it is not good at selling cars.
Update 3/31/09
O.K. Rick Wagoner resigned. Now GM has 60 days to come up with a better plan. Chrysler has 30 days to forge a deal with Fiat. The US government is backing the warranties of these companies.
People in Michigan are upset that GM's CEO got fired and Chrysler has 30 days. Well, let me clue you in on something. Chrysler was doomed a long time ago. If the government would not have came in saved it a 2d time it would have died in couple of months ago. The management of Chrysler has 30 days to get it's money out. As for the firing. The CEO of failed company always loses his job. Just like the 40,000 he laid off recently. He too knows how it feels and what it is like to be jobless.
I told you so.
Update 4/26/09
Back in February I asked Why are not these car companies broken up?
Apparently, there must be legal issues, but when the very government is so heavily invested in the companies would they even have to change the law? I mean really, the government, being the largest shareholder or majority owner just "tink" break it up. At least there would be more administrative positions opening up. Each brand would need it's own independent administration, design and marketing teams. I heard there are enough idle factories that could be tapped if needed.
Now what this does is risky, but isn't selling a brand the same as spinning it off?
Where is the money? Well, they are bank rolling it now. New term for me... Cash Burn It is funny because this definition I found make references to "start-up" companies.
Burn rate
"Used in venture capital financing to refer to the rate at which a startup company expends capital to finance overhead costs prior to the generation of positive cash flow." thefreedictionary.com
If Saturn, Saab, Hummer and Pontiac could not survive on there own then they die. Oh Cadillac and the rest all go solo too plus R&D now solo. Bell/Lucent Labs anyone?
Sure it can charge a flat rate for services each company can invest what it needs.
Well the union debt will have to backed up by the productivity of the current worker. The union will have a ownership position in the companies of it choice or each...whatever details,
but the point is...
Yesterday's worker is directly dependent on today's worker.
What the irony of it all is... the workers become the owners and now the workers become thier own proplem. At least that is what I get when you hear the current management access this problem they are experience.
Then, I guess this question could be directed at the union.
Are you ready to invest in yourself?
Update: 06/23/09
Well, both companies declare bankruptcy. The dealership network was "trimmed" back on both companies.
China buys Hummer, Some high-end European automaker buys SAAB, Saturn got sold to the Penske Organization, Pontiac just goes away and dies ... I think... The US government has a majority ownership in GM. the unions own most of Chrysler with Fiat getting a 20-30% cut.
Ford just received a 5,800 million dollar loan for new car technology. Nissan got a loan and so did Tesla.
Wednesday, November 19, 2008
China approves $600 billion economic stimulus
Well of the that would be a little bit more than 4 trillion yuan or 4,000,000,000,000.00 or $600,000,000,000.00 kinda the same thing. Big is not really the verb to use here... almost comprehensible amount of money moving around.
What is so interesting about this is ... just recently China just completed a bridge.
I will just cut out the meat of this article China opens longest sea bridge by Riazat Butt, religious affairs correspondent The Guardian, Friday May 2 2008
The world's longest sea bridge was formally opened yesterday linking Shanghai to the industrial city of Ningbo across Hangzhou Bay in China.
The 22-mile bridge
The bridge is a cable-stayed structure built at a cost of 11.8bn yuan (£500m),
Construction started in November 2003.
The bridge is designed to last 100 years.
Now...4000/11 is 363.636 $1.65 billion dollar projects.
What is most interesting is this...
Daily Journal of Commerce (Portland, OR), Nov 29, 2007 by Alison Ryan
I-5 bridge fix in Oregon could cost at least $3.1B
Estimated construction costs for alternatives for the Columbia River Crossing bridge, transit and highway improvement project range between $3.1 and $4.2 billion. Estimates include components like I- 5 related costs: interchanges, adding high capacity transit or new bridges.
I stopped reading ...because I immediately recalled my Sea Bridge in China that is 22 miles long was $1.6bn going to last 100 years.
The Interstate bridge is not measured in miles like the one in China. It is measured in feet 3538 feet or 2/3 of a mile. It does not cross the ocean it crosses the river.
Estimated to cost at least twice as much to get 1/33 the length hummm...
Now of course Oregon Washington has special needs unique to the function of the bridge, but the money and the numbers make this look ... funny.
What is so interesting about this is ... just recently China just completed a bridge.
I will just cut out the meat of this article China opens longest sea bridge by Riazat Butt, religious affairs correspondent The Guardian, Friday May 2 2008
The world's longest sea bridge was formally opened yesterday linking Shanghai to the industrial city of Ningbo across Hangzhou Bay in China.
The 22-mile bridge
The bridge is a cable-stayed structure built at a cost of 11.8bn yuan (£500m),
Construction started in November 2003.
The bridge is designed to last 100 years.
Now...4000/11 is 363.636 $1.65 billion dollar projects.
What is most interesting is this...
Daily Journal of Commerce (Portland, OR), Nov 29, 2007 by Alison Ryan
I-5 bridge fix in Oregon could cost at least $3.1B
Estimated construction costs for alternatives for the Columbia River Crossing bridge, transit and highway improvement project range between $3.1 and $4.2 billion. Estimates include components like I- 5 related costs: interchanges, adding high capacity transit or new bridges.
I stopped reading ...because I immediately recalled my Sea Bridge in China that is 22 miles long was $1.6bn going to last 100 years.
The Interstate bridge is not measured in miles like the one in China. It is measured in feet 3538 feet or 2/3 of a mile. It does not cross the ocean it crosses the river.
Estimated to cost at least twice as much to get 1/33 the length hummm...
Now of course Oregon Washington has special needs unique to the function of the bridge, but the money and the numbers make this look ... funny.
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