Monthly Archives: June 2009

Monetize BZ

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Blogger has asked me, a number of times, to monetize my blog.

Even as I write this, above the POSTING tab is the MONETIZE tab.

I don’t know about you, but I REFUSE to ‘monetize’ my blog.

You will NOT see advertisements on the Bloviating Zeppelin blog.

Until the paradigm changes, until I am forced to create my own domain or I am eradicated from the Blogosphere on Blogger, you will NOT see ads on BZ.

My thoughts are my own. My inclinations are my own. I am not yet so deficit that I can’t post my true thoughts and emotions.

Perhaps when I receive thousands of visitors per day I might commercialize this site.

Yeah. Right.

BZ
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The American Automobile Industry: Detroitasaurus Wrecks

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. . . is in a shambles.

In my opinion, if everyone had simply stepped back and allowed every auto industry shoe to drop, the collapse of GM and Chrysler would have occurred earlier, would not have drained American coffers needlessly to the tune of, literally, billions and billions of dollars squandered — dollars that American taxpayers will never see again.

1. CHRYSLER:

Over-riding a glitch by SCOTUS, Chrysler and Italian automaker Fiat have now made good on their proposed merger, ramrodded by the U.S. government, one day after the Supreme Court then cleared the path for the deal.

The new company will be formally called Chrysler Group LLC, after Chrysler/Cerberus Capital Management sold nearly all of its assets to the new firm.

If you’re not aware, the Chrysler crash equals the first American car company to go bankrupt since Studebaker in 1933.

And who “owns” (and I proffer that word quite loosely) what? And does Fiat CEO — and now named Chrysler CEO — Sergio Marchionne really think he’ll be in complete command of Chrysler?
Check this out:
-Chrysler Group is 55% owned by the United Auto Workers union.
-The U.S. government holds an 8% stake.
-Canada owns a 2% share.

Fiat will not be allowed to take a majority stake until the new Chrysler pays back the $22.1 billion lent to it from the Treasury Department, including Wednesday’s $6.6 billion wire transfer.

Do what I call the “logical extension”:

The REAL Big Dog in Chrysler, then, is Ron Gettelfinger of the UAW. One question: what the FUCK does Ron Gettelfinger think he knows about running a massive company like Chrysler?

He is clearly no Robert Nardelli or, moreover, no Lee Iacocca.

In the meantime, Chrysler is dropping 739 dealer locations. My. That should certainly make it easier to find and purchase a Chrysler vehicle, eh? No biases here, real or imagined. And dealerships, who allegedly “contributed to Republicans,” might have been forced to close first? Perish the thought! Simply specious allegations!

Fiat will bring such J.D. Power losers as the Fiat 500 to America.

And, uh, oddly enough, the newest J.D. Power survey lists Fiat as dead last in satisfaction in the United Kingdom. And they know small cars, eh? Fiats actually rate even lower than, say, Chrysler products in the UK.

Are you beginning to sense the slightest amount of irony here — ?

2. GENERAL MOTORS:

The new CEO of GM, Edward Whitacre, admits “knowing nothing about” the car industry.

Good for him. A smidgen of honesty prevails.

On the other hand, as Hugh Hewitt points out, the Socialism of GM disadvantages Ford who — of course — doesn’t have the American Government behind it.

Billions spent; billons lost and pissed away. Government Motors.

3. FORD:

Ford hasn’t taken one government dime. I purchased a new 1997 Ford pickup which had, essentially, every electrical problem imagineable. Its 4.6 liter engine staggered; the rear sliding window leaked. The cruise control didn’t.

Ford’s Alan Mullaly — oddly enough — hasn’t supped from the Poison Cup.

And — if limited to only US cars — I would purposely avoid Chrysler and GM. I’d give Ford another chance.

Simply because Ford is NOT controlled by the United States government and had the BALLS to turn down a staggering amount of cash.

Let’s review, shall we?

Chrysler: the UAW doesn’t have a clue as to how to make a profit with 1/3 of the American Automobile Industry.

GM: their CEO simply doesn’t have a clue.

Ford: viable, still present.

If you’re insisting upon purchasing domestic, I’d suggest NOTHING but a Ford vehicle.

I purchased a 2007 Toyota RAV-4 myself, with the 3.5 litre engine. Chipped up to 290hp. And still getting up to 28 mpg, with an average of 24 mpg. I refused to be shat into a Tuna Can.

I drove a Toyota Prius once. I’d seriously consider buying another for 2010.

BZ
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Obama’s Government Spending

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Some somewhat casual but potentially national death-dealing observations, the likes of which you must be aware:
1. Our national debt under Mr Obama is now $11 trillion dollars.

2. Mr Obama has spent more money than all previous presidents combined.
–and this is every bit as important if not moreso:
3. Every Congress since 1969 has spent more than its incoming revenue through taxes and operated at a deficit.
BZ
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You Make Too Much Money

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I’ll keep it simple today:

Mr Obama is appointing a “Pay Czar” in order “to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines.”

Do the logical extension, ladies and gentlemen. Would it be so terribly far to wonder if the Obama Administration may soon one day be examining your pay to see if you make “too much money”? May they one day be setting the pay of your company in terms of “fairness” and “equality“? And what of retirees? May they not conclude your pension is “too much” and cut it — perhaps then deciding you must pay back an “unfair excess” to the government? You think that’s simply impossible?

BZ

P.S.
Another impressive and high-class fashion display of the First Lady, above, as an official representative of the United States.
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Chrysler & GM

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The sale of Chrysler to Fiat is now not a “done deal”:

WASHINGTON (AP) – Supreme Court Justice Ruth Bader Ginsburg on Monday delayed Chrysler’s sale of most of its assets to a group led by Italy’s Fiat, but didn’t say how long the deal will remain on hold.

Ginsburg said in an order that the sale is “stayed pending further order,” indicating that the delay may only be temporary.

Chrysler LLC has said the sale must close by June 15, or Fiat Group SpA has the option to walk away, leaving the Auburn Hills, Mich., automaker with little option but to liquidate.

Why was the sale delayed, and by whom? Read on:

But a trio of Indiana state pension and construction funds, which hold a small part of Chrysler’s debt, have been fighting the sale, claiming that it unfairly favors Chrysler’s unsecured stakeholders ahead of secured debtholders like themselves.

As part of Chrysler’s restructuring plan, the automaker’s secured debtholders will receive $2 billion, or about 29 cents on the dollar, for their combined $6.9 billion in debt. The Indiana funds bought their $42.5 million in debt in July 2008 for 43 cents on the dollar.

The funds also are challenging the constitutionality of the Treasury Department’s use of money from the Troubled Asset Relief Program to supply Chrysler’s bankruptcy protection financing. They say the government did so without congressional authority.

Consumer groups and individuals with product-related lawsuits also are contesting a condition of the Chrysler sale that would release the company from product liability claims related to vehicles it sold before the “New Chrysler” partnered with Fiat is created.

GM Update:

Scandanavian company Ikea is considering the purchase of General Motors. They are proposing the following as a new marketing idea for the sale of GM’s new coming fleet of small cars.

As you can see, that philosophy is in keeping with Ikea’s belief of “some assembly required.”

BZ
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