• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Congressman demands answers on Chrysler deal

hypocritexposer

Well-known member
Steve LaTourette demands White House answers on Chrysler
by Stephen Koff / Washington Bureau Chief
Thursday May 21, 2009, 2:24 PM

WASHINGTON — Congressman Steve LaTourette today introduced legislation that demands the White House better explain why it painted a positive portrait of Chrysler's future for all communities, only to be contradicted hours later with news of plant closings.

"Many people feel misled by this entire process," said LaTourette, who with other Congress members, governors and mayors believed from President Barack Obama's April 30 announcement that no permanent plant closings were planned.

Obama that day announced a short-term Chapter 11 bankruptcy for Chrysler in exchange for government aid, saying, "It will not disrupt the lives of the people who work at Chrysler or live in communities that depend on it."

He introduced legislation today demanding that the administration provide all information it has regarding the closing of Chrysler plants and 789 dealerships nationwide. If successful, his resolution would force the White House to provide all documents, records and communications regarding scheduled Chrysler plant closings that were not divulged by the administration or Chrysler until the plant names appeared in a bankruptcy filing, LaTourette's office said.

http://www.cleveland.com/open/index.ssf/2009/05/steve_latourette_demands_white.html
 
A

Anonymous

Guest
Sandhusker said:
Didn't this adminstration mention something about transparancy?

Didn't they call up the banker of WTF Nebraska and explain it for his approval :???: :wink: :p :lol: :lol:
 
A

Anonymous

Guest
hypocritexposer said:
Oldtimer said:
Sandhusker said:
Didn't this adminstration mention something about transparancy?

Didn't they call up the banker of WTF Nebraska and explain it for his approval :???: :wink: :p :lol: :lol:

OT, you should move to Venezuela, then you could really find humor in such tactics.

They didn't explain it to the anonymous communist agitator hiding in Anonymous Canada either - eh :???:
 

hypocritexposer

Well-known member
"On all of these matter related to the disclosure of sensitive information, I wish I could say that there is a simple formula," Obama said. "But there is not. These are tough calls involving competing concerns, and they require a surgical approach. But the common thread that runs through all of my decisions is simple: we will safeguard what we must to protect the American people, but we will also ensure the accountability and oversight that is the hallmark of our constitutional system. I will never hide the truth because it is uncomfortable. I will deal with Congress and the courts as co-equal branches of government. I will tell the American people what I know and don’t know, and when I release something publicly or keep something secret, I will tell you why."

Barack Obama
 
A

Anonymous

Guest
As Geithner told Congress the other day the reason that they couldn't release any plan on the Auto companies bankruptcy/future is because they are changing daily as the facts on how bad of shape the Bush Bust has left them- and it all still needs to be approved by the Courts...

And I can see why they are closing dealerships-- why should the auto companies/taxpayers continue paying part of the financing to have 2-3-4 showroom/lots expenses of same company dealers in a small area- or others that only sell a small amount of vehicles a year...One in our area they are closing doesn't even have a shop to do warranty or regular maintenance work.....

Its been a long term practice of auto dealers to not give out more dealerships than the community/area trade will bear- as I was involved in trying to get in a Dodge dealership years ago- but they wouldn't cut into the territory of the dealer 50 miles away-- and its only been the last few years they started handing them out like a two bit hooker on the street corner...
 

hypocritexposer

Well-known member
Just days before the bankruptcy filing, the local United Auto Workers union had approved a new contract made in order to keep the 1,250-worker Twinsburg plant open. Union members approved it by an 88 percent margin, LaTourette noted.

"I don't think it's logical that you'd vote by an 88 percent margin to kill your job and close your plant," LaTourette said. "There's nothing more disruptive to a community than losing its largest employer. If this was the plan all along, fine, but I believe it was intentionally kept from key stakeholders and that's not right. Let's find out who knew and when and why it wasn't shared."
 

hypocritexposer

Well-known member
Remember how President Obama blamed Chrysler’s bankruptcy filing last month on “a small group of speculators” who turned down Treasury’s $2 billion final offer for their $6.9 billion in debt? Well, it turns out that hedge funds and other short sellers weren’t the only secured creditors who got a raw deal from Uncle Sam.

Indiana Treasurer Richard Mourdock revealed this week that his state’s police and teacher pension funds have lost millions of dollars in the Chrysler “restructuring.” Indiana’s State Police Fund and Major Moves Construction Fund, which finances roads and bridges, together lost more than $1 million. And the Teacher’s Retirement Fund “suffered, at a minimum, a loss of $4.6 million due to the action of the Federal government,” reports Mr. Mourdock.

Far from being speculators, these funds represent retired public employees, including cops and teachers. The funds paid a premium to buy “secured” status, only to discover that they were politically outranked by the United Auto Workers in the White House hierarchy.

http://online.wsj.com/article/SB124286497706641485.html
 

Richard Doolittle

Well-known member
Oldtimer said:
As Geithner told Congress the other day the reason that they couldn't release any plan on the Auto companies bankruptcy/future is because they are changing daily as the facts on how bad of shape the Bush Bust has left them- and it all still needs to be approved by the Courts...

And I can see why they are closing dealerships-- why should the auto companies/taxpayers continue paying part of the financing to have 2-3-4 showroom/lots expenses of same company dealers in a small area- or others that only sell a small amount of vehicles a year...One in our area they are closing doesn't even have a shop to do warranty or regular maintenance work.....

Its been a long term practice of auto dealers to not give out more dealerships than the community/area trade will bear- as I was involved in trying to get in a Dodge dealership years ago- but they wouldn't cut into the territory of the dealer 50 miles away-- and its only been the last few years they started handing them out like a two bit hooker on the street corner...

What do dealerships cost the auto companies? The way I understand it, the dealerships have to bankroll their own inventories.
 

Sandhusker

Well-known member
Oldtimer said:
As Geithner told Congress the other day the reason that they couldn't release any plan on the Auto companies bankruptcy/future is because they are changing daily as the facts on how bad of shape the Bush Bust has left them- and it all still needs to be approved by the Courts...

And I can see why they are closing dealerships-- why should the auto companies/taxpayers continue paying part of the financing to have 2-3-4 showroom/lots expenses of same company dealers in a small area- or others that only sell a small amount of vehicles a year...One in our area they are closing doesn't even have a shop to do warranty or regular maintenance work.....

Its been a long term practice of auto dealers to not give out more dealerships than the community/area trade will bear- as I was involved in trying to get in a Dodge dealership years ago- but they wouldn't cut into the territory of the dealer 50 miles away-- and its only been the last few years they started handing them out like a two bit hooker on the street corner...

Bush left the auto companies in bad shape? :lol: :lol: :lol: :lol:

Come on, OT, Bush was not my favorite by far, but you're getting totally carried away. Don't you think those Democrat supporting unions had more to do with it than Bush?
 

Mike

Well-known member
Don't you think those Democrat supporting unions had more to do with it than Bush?

Of course they did. That's as plain as the nose on your face.

And for OT to be so blind not to see that Zer0 is handing the car companies to the UAW is a laffer also.

Like Ray Charles said, "There's only one thing wrong with being blind. You just can't see". :mad: :mad:
 
Top