And my Tea Party was hateful?

Tuesday, March 31, 2009

If the Government is not running GM, who is?

Rick Wagner, the former CEO, has been replaced with Fritz Henderson with the board’s approval. However, Obama was the one to break the news to the public. Wagner will not receive a severance package despite 30 years of service to GM. GM has sold its corporate jets under pressure from congress, so now the big wigs at GM will pay more to rent private jets. In the mean time, Pelosi has demanded a larger jet, which will be subsidized solely by tax payer dollars. The make up of the fleet will be regulated by congress in the form of mileage standards, but this is not new. The President also announced that all warranties will have the full faith and credit of the United States Government, whose faith and credit are drying up rapidly. In between tax payer funded 5-star Congressional junkets, the House and Senate have examined every bit of spending and every perk the executives have enjoyed. Congress is passing legislation to limit the pay of the executives at GM and at all companies receiving bailout funds, The Treasury has bought/loaned (it changes daily) banks to loan money to consumers to purchase cars and homes. Congress controls the amount of the federal gas tax, which greatly affects the price of gas and the type of car consumers buy. Congress also regulates access to the oil used to make the gas. California is banning the sale and manufacture of ‘dark” colored cars to reduce the usage of air-conditioning. GM can not hire and fire employees at will, because that right is reserved for members of the US government. GM can not adjust wages or benefits without approval from the Untied Auto Workers.

GM does not control the salary of workers, worker benefits, the production line, the color of the production line, compensation packages for executives, the method of travel for executives or the time line for restructuring. Who is reorganizing GM? After all of these regulations and interferences by the federal government, GM may still file for bankruptcy. On the bright side, congress spent several days berating those horrible rich executives just to let you know how much they care. After the insults settled to the ground, congress tossed our good money after GM’s bad money. I am sleeping well knowing that congress cares. They wagged a good stern finger at the GM executives who has been held hostage for decades by Unions and Congress. As GM plants and dealerships across the nation are forced to close, will Congress’s negative ad campaign bring the recently laid-off workers any peace of mind? How many dinners will those worried families be able to purchase with another round of congressional mandates. Despite the flowing rhetoric and hyperbole, GM has dome far more for its employees than congress ever can.

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