The Toyota Witch Trials Part One

Update 1: Well it isn’t going well for Toyota from my view. Lenz indicated there was a report of trouble in the UK and it seems they did not notify NHTSA….

CNBC has LiveStream Coverage of the testimony and questioning of Toyota’s Lentz here

If they knew it was an issue in 2006 and covered it up shame on them. If Congress uses this to destroy Toyota and steal marketshare for GM shame on them.

If NHTSA helped them cover it up, then DC is working as it always has. And it is shameful. Looks like the same old pay to play shxt to me. Lobbyists, corporations, politicians in each others pockets, like FINRA and SEC ‘regulating’ their former and future employers, completely ineffective.

But I have also been doing recent reading on those GM trucks that had engine fires and NHTSA didnt do jack shxt there either did they? Yet no big show trial Congressional Panel, cause ya know they love them some GM. Waxman is playing clips of Phil LeBeau interviewing Lenz for CNBC…

Now that the government owns upwards of 70% of GM this has the appearance of impropriety and it is hard to deny these Critters now feel a much more personal stake in tearing down Toyota and thus in their minds building GM market share.

Me, I suggest peeps buy a FORD.

CNBC provides background here:

The president of Toyota’s U.S. operations insisted Tuesday that electronic problems did not contribute to sudden acceleration of its cars, drawing sharp criticism from lawmakers who said such a possibility should not be ruled out and from a tearful woman driver who could not stop her runaway Lexus….

February 23, 2010. Tags: , , , , , , , . Politics. Comments off.

Turning Japanese: Cash for Clunkers data in…

This is basically an excuse for me to play this song 🙂 Ed has already broken down all the data for us over at HotAir:

The Obama administration spent three billion dollars subsidizing the destruction of 700,000 vehicles in order to boost car sales.  Which auto makers actually benefited from these American tax subsidies?  Reuters reports that foreign car manufacturers gained market share, while the two bailed-out American automakers lost significant portions of theirs in the big summer sale…

The majority of cars crushed were American models like the Grand Jeep Cherokee  😦  I love my Jeepster! I still wish they had given vehicles to charity, it wasn’t making a meaningful impact on ‘greening’ to destroy them….the worst was seeing the video of a corvette killed…. awful…

The Vapors courtesy of Emmanuel123454321; Corvette murder courtesy of dcartjr

August 27, 2009. Tags: , , . Politics. Comments off.

Still the Same: TOTUS is a Spend and Tax Carter Democrat…

Not your Daddy’s moderate-Big Dawg-grow the pie-pro-business-Era of Big Govt is over-tax-cutting Democrat. This is your grandaddy’s ultraliberal-Carter-redistribute the pie-anti-business-Era of Big Govt has just begun-spend and tax Democrat.

The media lied the economy died.

The American people have read the writing on the wall and it is profane. If you look at virtually any polling TOTUS has lost the support of Indies. The Indies with whom Dems gained goodwill in the Big Dawg years. Pissed away on 70s era failed statist policies….

Rasmussen:

Just six percent (6%) of voters nationwide now expect their own taxes to go down during the Obama years. The latest Rasmussen Reports national telephone survey found that 42% expect their taxes to go up while 40% expect little change. Another 12% are not sure.

It gets even more clear that we have seen who Obama is and he is not the moderate Clinton like Democrat the media and the pundits and the ELITIST POLITICAL CLASS sold him as, IOW we got a pig in a poke, (without even lipstick):

Seventy percent (70%) of voters expect government spending to increase during the Obama years. That’s up from 54% when he was elected and 63% since Inauguration Day.

Only six percent (6%) expect the Obama administration to reduce government spending.

Seventy-one percent (71%) say the president’s policies have increased the size of the federal deficit.

Seventy-six percent (76%) believe it is at least somewhat likely that taxes will have to be raised on the middle class to cover the cost of health care reform, even though 54% think middle class tax cuts are more important than new spending on health care.

Other recent survey data shows that 76% now view the president as politically liberal. The number who consider Obama Very Liberal jumped from 28% just before he was elected to 48% today.

Now why would only 28* have viewed him as politically liberal just before he was elected?? We are looking at you journOlists….

We're gonna need a bigger graph.....

We're gonna need a bigger graph.....

Bob Seger courtesy of catrevolver

August 18, 2009. Tags: , , , , , , . Economy, Healthcare, Obama Administration, Politics, Popular Culture. Comments off.

Update: Ron Bloom to take over, Steve Rattner stepping down as Auto Czar…

Bloomberg has it up, they say Ron Bloom who I have seen described as a friend of labor but who isn’t at this point on the auto force?? How can GM make money negotiating against its own workers interests when it owns itself?

…Ron Bloom, who has worked with Rattner on the car company restructurings, will take over the leadership of the Obama administration’s auto task force, the statement said.
…Rattner “has decided to transition back to private life and his family in New York City,” Treasury Secretary Timothy Geithner said in a statement. “I hope that he takes another opportunity to bring his unique skills to government service in the future.”

Here is a take on Rattner and Bloom from the former chief of IBM…

…“Who did we pick to figure out how to fix the automobile industry? We picked two investment bankers,” Gerstner said in an interview with Bloomberg Television’s “Conversations with Judy Woodruff” airing today. “It’s sort of like asking the arsonist to run the fire department.”

In February, Obama named Steven Rattner, co-founder of private-equity firm Quadrangle Group LLC, as chief adviser on auto-industry issues, and Ron Bloom, a former vice president at investment bank Lazard Ltd., to advise his auto task force….

steven_rattner_graphic

Breaking on CNBC Chyron. The way Rattner allegedly treated Chrysler senior bondholders is truly abhorrent to our system of law. Hope this is not so they can promote him to destroying more contract law elsewhere in our economy…Karma is a two way street. He may be going off to spend more time in his mondomansion for all I know but what comes around goes around and he did a lot of damage to American business and contract law with his actions IMO…

Our MANY previous posts on the Chrysler travesty here

He is taking his giant cheese and going back to his giant rat trap perhaps…we hear the TOTUS family will be vacationing in MASS also…

zodiac-rat-pic

MM is also following the story

July 13, 2009. Tags: , , , , , , . Politics. Comments off.

UPDATE: Saturn goes under- Penske drops bid, GM says it will not seek alternate buyer; The New GM – CNBC.com

Wow! 1992 (the album!) !? Damn am I old!

Update: 9/30 -Commenter Thomas Stewart notes GM called the end of Saturn today as Penske withdrew its bid.

CNBC:

General Motors will close Saturn and wind down its dealership network after a deal to sell the faltering brand to Penske Automotive Group collapsed, the automaker said Wednesday.The breakdown of a deal that had been widely expected to close this week will force some 350 Saturn dealerships to close and could cut thousands of auto retail jobs that would have been preserved under a plan by auto magnate Roger Penske.

Shares of Penske Automotive ..were down almost 10 percent Wednesday in aftermarket trade. The breakdown of the deal was announced after the New York Stock Exchange closed.

GM’s failure to complete the deal also adds uncertainty to the automaker’s production plans as it struggles to regain its footing following a $50-billion taxpayer funded restructuring.

“This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality,” GM Chief Executive Fritz Henderson said in a statement…

(more…)

June 1, 2009. Tags: , , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, Popular Culture, Uncategorized, Unemployment Statistics, Wall St. 2 comments.

Update 2: GM Bondholders accept counteroffer….Breaking: GM to close 14 plants Monday…

Update 2:  CNBC has the details:

..The bondholders will start with 10 percent equity, 7.5 percent more at both $15 billion and $30 billion market cap. GM  will emerge from this deal with $25 billion in secured debt. The offer came Thursday morning from GM and the Treasury Department. However, the move may not stop a possible bankruptcy for GM.

But in exchange for the improved payout, creditors would agree not to oppose a move to sell GM’s profitable assets to a new company funded by the U.S. government in a fast-track bankruptcy process.

The exchange offer will be open to bondholders until 5 p.m Saturday EDT, GM said…

Breaking now, GM Bondholders accept ‘sweetened’ offer, but bankruptcy still a go? developing on CNBC- GM shares resume trading

developing story on CNBC chyron…coming from AP, ugh…..

SOO glad we are spending that 60-70 Billion to save GM …so we can watch all these layoffs anyway….good Gawd almighty….and the pensions will be the next shoe to drop…you and I will carry that unfunded liability as well no doubt…i hearFed Reserve Fisher says  its like 11 trillion theentire unfunded public pensions coast to coast…pfffft!!!

May 28, 2009. Tags: , , , , . Economy, Finance, Politics, Uncategorized, Unemployment Statistics, Wall St. Comments off.

Government Motors: Chrysler- Does TOTUS stand on the side of the car dealerships or the mean executives closing them…

I mean just asking..since he made clear whose side he was on last time ’round..

A very unhappy Chrysler Dealership owner on L.I. was on CNBC this morning. Despite being in the top 2% of dealers in volume he was notified he is being shutdown, the guy up the block gets to stay open and they didn’t give this guy the chance to offer to merge/buy/sell with the dealer up the block. He called it unAmerican.

This is that dealer from CNBC:

ISLAND JEEP INCORPORATED DBA ISLAND JEEP-EAGLE 26272 J
1 EAST MONTAUK HIGHWAY
LINDENHURST, NY 11757-5833
JAMES T ANDERER

See TOTUS broke Constitutionally protected contract law to side with the workers not the speculators, except these workers..this is why the government needs to stay out of it. There are a lot of franchise laws in states and minority franchises may be perceived in some cases to get preferential treatment as Congress Critters meet with the over 100 Car Dealer lobbyists who are not going away.

The dealers have promised to sue in court to fight this. Where is TOTUS to call them unpatriotic?

Here is the PDF list of the Chrysler Dealerships being closed, we are waiting for a  list from GM..

They are in alphabetical order by dealer name not location so it will take a bit before we find out if there were geographical preferences given…the whole Southern state, Right to Work v Union state thing..we shall see….at first glance an awful lot of Florida dealers being closed…lot in NJ too…

WSJ:

..Chrysler LLC is seeking to drop 789 dealers from its retail network, according to documents filed Thursday with the U.S. Bankruptcy Court in Manhattan. The company has requested a June 3 court hearing to approve the planned streamlining, though some dealers said they would oppose being shut down. The dealer restructuring is being driven by Italian auto maker Fiat SpA, which plans to take an initial 20% stake in Chrysler when it emerges from bankruptcy protection.

Chrysler needs to pare its dealer network so that the company “can begin implementing efficiencies, marketing strategies, production plans and model changes” that will make it more profitable, the auto maker’s director of dealer operations, Peter M. Grady, said in a statement filed with the court.

..Chrysler studied the sales, locations, market shares, finances and facilities of each of its dealers to identify the strongest of its roughly 3,200 outlets, he said.

Some Chrysler dealers questioned the methodology used by the company and Fiat in their deliberations, and have vowed to battle the planned cuts. Leo Jerome, owner of Story Chrysler Jeep in Lansing, Mich., which is targeted for closure, said he has about $2 million in inventory and Chrysler informed him that the company won’t repurchase any of the cars or parts.

The auto maker said all of its dealer contracts allow the company to terminate its relationship for any reason with 30 days’ written notice.

Here is AZ:

BROTHER’S MOTORS INC DBA DIAMOND DODGE-CHRY-PLYM 68771 CDT
350 N SWITZER CANYON DR
FLAGSTAFF, AZ 86001
DARRYL R SACKS

DARNER MOTOR SALES INC DBA DARNER CHRYSLER JEEP 35058 CJ
837 WEST MAIN STREET
MESA, AZ 85201-7194
JOEL O DARNER II

JONES FORD-MERCURY, LLLP DBA JONES DODGE CHRYSLER JEEP 42779 DTCJ
781 W WICKENBURG WAY
WICKENBURG, AZ 85390
THOMAS G JONES

PERFORMANCE DODGE LLC DBA PERFORMANCE CHRY-JEEP-DODGE 44364 DTCJ
4240 W GLENDALE AVE
PHOENIX, AZ 85051-8190
WILLIAM R COULTER

May 14, 2009. Tags: , , , , , , . Economy, Obama Administration, Politics. 1 comment.

Chrysler: Government Motors, the Prequel: Glenn Beck- Sweet Deal…

Glenn Beck explains what you’re getting from Chrysler rescue plan

Vodpod videos no longer available.

more about “Chrysler: Government Motors, the Preq…“, posted with vodpod

May 7, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , , . Big 3, Economy, FDIC, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized. Comments off.

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