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November 19, 2008 03:15 PM UTC

Wednesday Open Thread

  • 63 Comments
  • by: Colorado Pols

“Blessed are the peacemakers.”

–Ken Salazar

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63 thoughts on “Wednesday Open Thread”

  1. from ABC News we have a story that will bring tears to your eyes as you see that they too are having to tighten their belts.

    All three CEOs – Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler – exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM’s $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone.

    But the important thing is they understand what their companies need to focus on to regain profitablity

    GM and Ford say that it is a corporate decision to have their CEOs fly on private jets and that is non-negotiable, even as the companies say they are running out of cash.

    1. that makes me balk at bailing them out. Then I remind myself that they won’t suffer one iota whether the company declares bankruptcy or not–it’s the tens of thousands of American middle class auto workers that are going to pay the price here.  

          1. I daresay there are a few more conditions we could come up with that must be implemented as part of the package, if the fatcats want to be bailed out.

              1. but here’s the catch: they have to work a crappy minimum wage job for at least 6 months. Flipping burgers or pumping gas or something. If they can do it, they get their money.

                I wonder how many would actually do it?

                2. picking through sewage with no gloves to get their millions.  And it would be fun to watch.  Maybe it could be a new reality show.  Uh-oh, aren’t we supposed to all be for unity and Kumbaya now?  I forgot.

                    1. Something about behind every fortune there is a crime?

                      Probably a bit of exaggeration, but also close to the mark.  The crime of the CEO’s may not be legal, but moral.

                      When someone builds the better mousetrap, or is just top man/woman in their field, or they are an effective leader bringing jobs to many, I have zero problem with wealth.

                      The fact is many people got their wealth from the lucky sperm contest, or by screwing people figuratively, or a stroke of luck that could have gone 180 degrees opposite. Then they think they are fucking geniuses.  See “George Walker Bush” for an example of all three rolled into one.  

                    2. but jokers who pay themselves hundreds of millions for doing a lousy job, then arrive in their private corporate jets with their hands out whining about how fast their companies are burning through money  deserve nothing but contempt. And if we had universal health care we wouldn’t be having  the problems that you chalk up to greedy unions.  

                      The auto industry and big oil have been pushing huge vehicles on easy credit and with tax incentives as if big luxury SUVs were  working trucks.  Companies like Ford  went through a decade having recalls every 15 minutes.  Yeah, the credit melt down  puts them in a bad spot but they aren’t total victims here.

                      The party is over.  Not just autos but all retail (except guns) is tanking in spite of record low prices and deals.  Thing is, when everybody’s credit is maxed out in a culture where everybody buys everything on credit, it doesn’t matter how good the deals are. Big ticket items like vehicles are right behind the biggest ticket item, homes.  It’s going to get much worse before it gets better.

                      Between construction and manufacturing related job loss, auto industry related job loss, financial sector job loss etc. etc. etc. this snowball has just gotten started and it’s headed down hill and over the cliff.  

                      But the clueless elite CEOs who got us here while doing absolutely nothing but helping each other get fat will still be sending their kids to the best private schools  with their golden compensation, while working stiffs finance the bail outs.

  2. from TPM

    But analysts suggested that prices might be bottoming out as they moved closer to the psychologically significant $50 mark.

    Personally I think they have no idea how low it will drop and any claim of $50.00 being a floor is wishful thinking. As long as demand stays well below supply, it can keep dropping.

      2. I just traded my wife’s comverted ’05 Heritage Trike, that was only getting 22 mpg, in for Harley’s brand new ’09 Tri Glide model. Very cool with a bigger motor but gets 48 mpg. More than double her old bike.

        We sold her mid size car a year ago and bought a used Chevy Colbalt, and I keep my diesel Ford parked and ride the scoot as much as possible.

        I think most everyone is doing what they can to save on gas. But I’m also betting it is not because we are all trying to conserve, but because we freakin can’t afford $4 gas.

        I read the other day that OPEC was trying everything in their power to cut back production so prices would go back up, but because demand was so low, prices stayed low.

        A taste of their own medicine.

    2. …Caribou Barbie’s state budget is premised on oil prices remaining in the mid- $70/barrel price range.  If it goes much below that price for any substantial length of time, she’ll have to cut spending, raise taxes (God forbid) and/or cut the annual dividend checks (Alaskans get $1,200 per year…doesn’t quite measure up to your $59 per year pre-Referendum C TABOR refund, does it, Gecko?).

        This little challenge should show the rest of the nation what Palin is made of.

      1. .

        Don’t think she has the option of “raising” taxes, because I don’t think they collect any.  No need to, since Alaska collects equitable severance taxes (unlike Colorado.)

        .

      3. Last year’s budget was built to break even with oil at $75 a barrel, state officials have said. If the price stays down, the state will have to dip into savings and feel new pressures to cut spending.

        This is where it gets interesting for Alaska.  They have a huge rainy day fund, but a dip into takes away from the refund.  Boo hoo.  No raising (or introducing) taxes, only optional cutting of spending, just a smaller bonus for doing nothin’.

        I read somewhere, can’t remember where, that if the average falls to $55 they are in actual trouble.  Next year might be tough, but I stand firmly behind my boo hoo.

        http://www.dallasnews.com/shar…

  3. Urging me to contact my representatives about the “Bridge Loan.” But rather than state my support in my own words, I should, and I quote:

    “You can review a script that will help you state your support at gmfactsandfiction.com.”

    OK, I get that we need to bail these idiots out in order to protect our economy. But between the 8 corporate jets and the luxury retreats for salesmen, they are not going to get a dime from Uncle Sam’s vault unless they do some serious, Lee Iacoca-like slash and burn action on their own sultan-like trappings.

    As a Marketing Guy, I’d tell them sell the jets, drop ALL the management perks (INTEL), slash their salaries to $1 and only pay them in common stock (AKA Steve Jobs of Apple.) That would show that they have some stake in recovering the company.

    Then, the next time the need to fly to Washington, have them fly Northwest to DC in a very carefully staged event.

    Yes, these jackholes had made way too much money running their companies into the ground. But they need to playthe game if they have any shot of getting this big corporate welfare check.

  4. http://online.wsj.com/article/…

    Mr. Emanuel promised that a major economic stimulus would be “the first order of business” for Mr. Obama when he takes office Jan. 20. The focus of spending will be on infrastructure, specifically “green infrastructure,” which he said would include mass transit, upgraded electricity transmission lines, “smart” electrical meters that allow consumers to save money by using electricity at off-peak hours, and universal broadband Internet access, which he said would encourage telecommuting.

    He stressed that the new administration would “throw long and deep,” taking advantage of the economic crisis to push wholesale changes in health care, taxes, financial re-regulation and energy. “The American people in two successive elections have voted for change, and change cannot be allowed to die on the doorsteps of Washington,” Mr. Emanuel said.

    See, this is why Joe Lieberman doesn’t matter.  

    1. ..although for some, e.g., Gessler, it would be a pay cut, I’ll bet most of these people currently makes less than $80,000/year (e.g. Romanoff, Gordon, Willis) and are simply hoping to make ends meet.

  6. Obama Taps Daschle for HHS

    By David M. Drucker

    Roll Call Staff

    November 19, 2008, 11:48 a.m.

    Former Senate Minority Leader Tom Daschle (D-S.D.) has been offered the job of Health and Human Services secretary by President-elect Barack Obama and has accepted the job, according to a Democratic source close to Daschle.

    Daschle, who served in the Senate until he lost his re-election bid in 2004, also is set to take on the position of “health care czar” in the Obama White House, ensuring that he does not get bigfooted on matters relating to health care policy, according to this source.

    Daschle was a close adviser to Obama throughout the Illinois Democrat’s presidential campaign, and has been outspoken about his desire to enact a government-funded health care insurance program to help cover the approximately 40 million Americans who do not have coverage.

  7. Nice quote Sen. Salazar.

    Blessed are the peacemakers, for they will be called sons of God” (Matthew 5:9)

    We need a new bumper sticker – What Would Salazar Do?

  8. The House Steering Committee has voted to replace Rep. Dingell with Rep. Waxman as Chair of the House Energy and Commerce Committeein the next Congress.

    The vote was close – 25-22.  I’m guessing this signals a desire to change the direction of the country toward alternative energy and cleaner air; as has been pointed out, Dingell wasn’t technically term-limited under House rules, though he has held either the Chair or Ranking Minority Member of the committee since 1981.

    1. To have a total lap dog of the auto industry chairing the Energy (component) committe as has been the case for many years is wrong.

      I’m glad Waxman got it.  

      1. (that nobody even gave me a single ‘lol’ on)

        Not being the chair will free up Dingell for his Presidential run with Marion Barry as his running mate.

        Come ON, you guys….

        2. It took me a few seconds to get it, but I did laugh.

          After eight years of ВЁDick and BushВЁ jokes, though, arenВґt we immune to tickets with funny names?

              1. We libs may disagree with him on many points, but believe me when I assure you, he is a good conservative in the classic and best sense of the word.  Very willing to sit and listen and think of possibilities and solutions with us libs.

  9. I’m a Democrat and a businessman who supported and voted for Obama and Udall. Now, according to Home Depot’s founder, I “should be shot”?

    http://www.huffingtonpost.com/…

    What an asshole.

    The Home Depot I shop at has a Lowe’s just down the street. I think I’ll be visiting Lowe’s from now on. At least I won’t get shot there.

          1. just for small stuff.  Still takes me an extra five minutes to find it by car.  Probably for the best.  Would you really want anyone so dumb working with power tools?

        2. I don’t know how long you’ve lived there, but there used to be Steinbaugh’s hardware on Main Street. That place was great.

          Lowe’s (used to be Eagle) and Home Despot put them out of business.

          1. and have loved it ever since – we don’t want to move anywhere.  Main St. is getting a little more busy with the Empire Grill and Waterloo Icehouse now, and a few more new shops.

            Sadly, I think Steinbaugh’s was before my time. I would have shopped there.

            Lots of change, and Louisville is rolling right along.  There will be a lot of change with the ConocoPhillips research center (11K plus new jobs) and FastTracks, but that is well into the future.  Some of the Boulder richy-foo-foo entitlement mentality (sorry Boulderites) is creeping in though.

    3. in, IIRC, management/labor relations.

      I’ve also heard that they tend to be “higher end” than HD, don’t know if that is true.

      The mere fact that the founder of HD was a Bush Ranger was reason enough for me to steer clear as much as I can.  

  10. Joan Walsh column at Salon.com:

    http://www.salon.com/opinion/w…

    On MSNBC’s “Hardball” tonight, Pat Buchanan was not only insisting Barack Obama should pick Hillary Clinton as secretary of state, he also gave Obama advice about handling his left-wing base – and it’s not what you’d expect. Buchanan suggested that with his next Cabinet pick, “he ought to give someone to the Daily Kos … the people who supported and elected him.”

    This on a day when one anonymous Democratic aide bragged to Chris Cilizza that letting Joe Lieberman keep his chairmanship would mean: “The left has been foiled again. They can rant and rage but they still do not put the fear into folks to actually change their votes. Their influence would be in question.” It’s odd that Buchanan shows more respect for the left than leading Democrats do. The Lieberman decision is an abomination, and Obama and the Democrats may well regret it. Buchanan is no friend of the left, obviously, but he’s an old-time pol who understands the importance of keeping the base happy. Too many Democrats seem to think the first thing they should do when they get power is display contempt for their base.

    3. Really.

      Obama has been President-elect for a whopping two weeks, and we’re already listening to Pat Buchanan for advice?

      I agree with him about Hillary Clinton though.

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