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.

Twofer Tuesday: Twilight Zone style for Nancy Pelosi who tells Charlie Rose ‘a VAT tax is on the table’

Golden Earring courtesy of lin1968

It’s official, Nancy Pelosi is in the Twilight Zone. She told PBS last night a VAT tax is on the table (The Hill):

Pelosi, appearing on PBS’s “The Charlie Rose Show” asserted that “it’s fair to look at” the VAT as part of an overhaul of the nation’s tax code. “I would say, Put everything on the table and subject it to the scrutiny that it deserves,” Pelosi told Rose when asked if the VAT has any appeal to her.

The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.

“They get a tax off of that and they use that money to pay the healthcare for their own workers,” Pelosi said, using the example of auto manufacturers. “So their cars coming into our country don’t have a healthcare component cost.

Gee, wonder why Nancy is raising AUTO MANUFACTURERS, the PENSION LIABILITIES and a VAT TAX now? Could it be b/c GM has ALREADY BURNED THROUGH THE 50B in taxpayer dollars and the UAW cannot meet their pension obligations? Could be rabbit could be…

“Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that’s one part of it,” the Speaker added. “But in the scheme of things, I think it’s fair look at a value- added tax as well.”

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate consuming most lawmakers’ time, and that it may come as part of a larger overhaul to the tax code.

Everyone got that? As soon as they are done ramming healthcare through they will lay a VAT tax on our axxes. Everyone is registered to vote for 2010 right?

Twilight Zone mashup courtesy of FatherMcKenize:

“The segments of intro divide the different seasons. All episodes are in order in which they first aired (instead of production order), I believe, except Occurrence at Owl Creek Bridge which is purposely put last, just because I thought it was more climactic at the end (I’m used to seeing it at the end of the Zicree guide also!)”

October 6, 2009. Tags: , , , , , , , , , , , . Entertainment, Fantasy, Horror, Music, Mystery, Popular Culture, Sci Fi, Supernatural, Suspense. Comments off.

‘City Car’ – TATA Motors Nano: “looks like the bastard offspring of a one night stand between the Prius and a Ford Aerostar”…

BWAAAAHAAAA!! Gawd I love that line and had to do a post just to share it :0)

Title quote found in comment by  Brian DR1665 on June 09, 2009 at 10:36 AM on CarLust found by way of Glenn at Instapundit..

Video Courtesy of autocar:

From David Colborne’s Nano review at CarLust:

…But wait – it gets better. As numerous news outlets are pointing out, Tata is planning on bringing this little bastion of affordable motoring to the United States. Naturally, this begs the question–will it follow the path laid down by the VW Beetle, burrowing a place into our automotive hearts, or will it simply rust out of our consciousness like the Citroen 2CV?

To help us answer that question, let’s run through the specs:

  • 2 cylinder, 33 horsepower engine
  • 4 speed manual transmission
  • 0-43 mph in 14 seconds
  • Top speed of 75 miles per hour
  • 47 miles per gallon
  • Drum brakes all around
  • Seats four

Nano ‘luxury’ model, with air conditioning!

>But guess what? Someone has already made a ‘car’ smaller and cheaper than the Nano:

the only small car I liked was Laura Holt’s convertible Rabbit on Remington Steele., nifty Cabriolet  ….but that was a German engineered car (and I think they still had electrical problems)…..not a Pelosi engineered shxtbox or cheap collapsible SUBcompact like the Nano…imo… …not for use with NYC cab drivers in the vicinity thats a fer shure

Courtesy of calayo29

More after the break..

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June 10, 2009. Tags: , , , , , , , , , , , , , . Big 3, Economy, Entertainment, Politics, Popular Culture, Uncategorized. Comments off.

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.

WSJ: Govt will provide massive additional financial aid to GM

We have already given GM 19 billion….

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May 26, 2009. Tags: , , , , . Big 3, Economy, Finance, Labor Department, Obama Administration, Politics. Comments off.

GM to kill Pontiac Brand…

Say goodbye to an old friend, Pontiac..Treasury gave GM another 2 billion and made them kill Pontiac in exchange no doubt…

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April 24, 2009. Tags: , , , , , , , , , , . Big 3, Doo Wop, Economy, Music, Politics, TARP, Uncategorized. Comments off.

Video Update: GM CFO Ray Young says co won’t make June 1st $1Billion debt repayment…

Update 2: CNBC’s Phil LeBeau

Vodpod videos no longer available.

Update: Bloomberg:

General Motors Corp., trying to avoid a U.S.-backed bankruptcy on June 1, may close plants and scrap models as much as four years sooner than planned to lower its break-even point, people familiar with the effort said….

…The new plan may require GM to complete many of the reductions in models and dealers planned by 2014 as soon as next year, allowing earlier plant and job reductions, people briefed on the talks said. GM said March 31 that by 2014 it would trim dealers to 4,100 from 6,122, nameplates to 36 from 43, and U.S. assembly capacity to 2 million vehicles from 2.8 million.

The bond offer may include some framework of GM’s plan to cut $20.4 billion in obligations to a United Auto Workers union- run retiree-medical fund by more than half, two of the people said. The bond offer may disclose what portion, if any, of U.S. loans would be converted to equity, one person said.

–the flintstones car at the new york international auto show–

Breaking from WSJ on CNBC Chyron…

This is in addition to GM CEO Fritz Henderson commenting bankruptcy more likely…

they are really putting the hammer down on the bondholders..were I they, I would NOT cut a deal, I would wait for my bankruptcy judge, but the pundits say a MI bankruptcy judge will be under HUGE political pressure to wipe the bondholders out anyway…

say hello to Nancy Pelosi and Henry Waxman’s Little Friend..a Flintstone mobile, perhaps all we will be allowed to purchase until they reinvent the wheel..

A vehicle that meets Waxman/Pelosi emission standards

A vehicle that meets Waxman/Pelosi emission standards

We will then get sued by people behind us as our feet produce a cloud of dust they can claim MIGHT somehow damage them as a pollutant…

Good Grief….

April 22, 2009. Tags: , , , , , , , , , , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, Popular Culture, Saturday Morning Cartoons, Uncategorized. Comments off.

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