Breaking News: People Like the Government Giving Them Other People’s Money – Tea Party Nation

Breaking News: People Like the Government Giving Them Other People’s Money – Tea Party Nation.

Posted by Seton Motley

Note: This first appeared in NewsBusters.org.

 

To paraphrase the estimable Yogi Berra – it’s like deja vu all over, and over, and over, and over again.

 The Jurassic Press media is enraptured with a certain story.

Chevrolet Volt tops Consumer Reports Owner-Satisfaction Survey for …

 Chevy Volt tops Owner-Satisfaction Survey

 Chevy Volt tops Consumer Reports annual owner satisfaction survey

 Everywhere you turn, there is an incessantly recurring Media theme.

 Chevy Volt Tops Consumer Reports Survey, Again

 Survey Finds Chevy Volt Best for Owner Satisfaction 2 Years in a Row

 Chevy Volt tops Consumer Reports most-loved car survey again

 It seems the Chevrolet Volt has for the second year in a row topped a Consumer Reports satisfaction survey.

 Chevy Volt again tops Consumer Reports Owner-Satisfaction Survey

Chevy Volt Wins Again Consumer Reports’ Ranking

 Chevy Volt tops most-loved car survey again

 And the Press can’t get enough of issuing General Motors (GM) press releases.

Survey Finds Chevy Volt Best for Owner Satisfaction 2 Years in a Row

 Chevy Volt named most satisfying car in Consumer Reports survey

 Chevy Volt owners are most satisfied, says Consumer Reports

 You may also have seen this incessantly run Chevy Volt television advertisement featuring “satisfied” Volt owners.

 “I go to the gas station such a small amount that I forget how to put gas in my car.”

 Left out of all of these “news” items – and the ad – is the gi-normous Chevy Volt government money back story.

 A story which sounds a lot like the Obama Phone.  Or Obama Bucks.

 Or liking President Barack Obama “because he gives me stuff.”  Or because (you think) “I won’t have to worry about putting gas in my car. I won’t have to ….”

 Here’s a shocking news flash: People like government klepto-conduits giving them Other People’s Money.

 And the Chevy Volt is a rolling, multi-billion dollar Obama Bucks-mobile.

 There’s the more-than-$3 billion-in-federal-government-subsidies-alone spent thus far on the Volt.

 And the $7,500 federal bribe – I mean incentive check – given to each Chevy Volt buyer.  Which President Obama – in his last unanimously rejected budget – wanted to up to $10,000.

 And the purchase bribes several states are kicking in.

 Behold another bribe: The Volt costs GM $89,000 to manufacture – but they charge all these happy handout recipients only $40,000.  And that’s before the $7,500 federal payola – and the various state palm greasers.

 And GM is cutting even more, more absurd deals.

GM Counts $159 Leases for an $89,000 Car

 Speaking of the manufacturer: There is perhaps no bigger government money handout recipient than GM.  They received $50+ billion of We the Taxpayers’ money – in the $83 billion auto bailout.  A bailout on which we are losing more than $42 billion.

 And GM has since become:

Another Crony Socialist Welfare Office

$26.5 billion of the ($42+ billion auto bailout) loss was a straight payoff to the…United Auto Workers (UAW) union….

 President Obama illegally carried forward through the bankruptcy the ridiculously exorbitant UAW contracts….

 During the bankruptcy process, President Obama illegally paid off the UAW first and in full….

 90+% of GM auto loans are now of the Freddie Mac-Fannie Mae-esque subprime variety – made to people whom GM and everyone else know can’t pay them back.

 GM in 2010 launched a venture capital division which is investing in fabulously successful things like…solar panel companies.

 (N)o company registered more (non-)green (non-)energy patents in 2010 than GM.

 80% of (Department of Energy) green energy loans went to Obama donors….

 I would imagine all of these folks are “satisfied” too.

 Other People’s Money – conscripted by government and given to you – is sadly all too satisfying for far too many Americans these days.

 

President Obama: Is This the ‘Private Sector…Doing Fine?’ – Tea Party Nation

President Obama: Is This the ‘Private Sector…Doing Fine?’ – Tea Party Nation.

Note: This first appeared in Breitbart.com’s Big Government.

 Posted by Seton Motley

President Barack Obama incessantly touts the alleged “success” of the $50 billion General Motors (GM) bailout, evidence to the contrary notwithstanding.

General Motors – The Government’s Warped Definition of ‘Success’

Much like the Obama Economy, General Motors’ numbers are tanking.  Earlier this week we had:

GM’s 2012 Sales Growth Only 2.5%

Outstanding.  And the failures continue to abound.

General Motors 3Q Profit Falls 14 Pct (from 3Q 2011)

Sound familiar?

2011 US GDP growth: 2.0%.

2012 US GDP growth (thus far): 1.77%.

Two percent is pathetic,  and the Obama Economy can’t manage to match it this year.

 

Are things now looking up for the economy?

Economic Outlook for 2012 Even Worse Than We Thought

Things are looking worse for the U.S. economy than even three months ago.

Apparently not.  How about for General Motors?

General Motors Is Headed For Bankruptcy — Again

Outstanding.

 

This all-things-failing-equally can’t be what President Obama has in mind, right?

Government Motors is What Obama Wants to Do to ‘Every Industry’

More than 23 million people are jobless or underemployed under Obama.

Report: Negative job growth under Obama

1,035,000 Construction Jobs Lost Under Obama

Tech (sector) layoffs hit 3-year high in first half of 2012; 260% m…

Obama closes more than 2,000 car dealerships; more than 100,000 let go

111 coal plants – more than 20% of US total – closed under Obama; m…

Government-land oil and gas drill permits down 36% under Obama.

Food stamp recipient number rises from 32 million to 47 million und…

Record 5.4 million join (Social Security) disability rolls under Ob…

Welfare spending jumps 32% during Obama’s presidency

Health care premiums rise $2,370 per family under Obama.

Gasoline prices double under Obama.

Obama: “The Private Sector Is Doing Fine”

Apparently it is what President Obama has in mind.

 

Government Motors vs Free Market Ford – Tea Party Nation

Government Motors vs Free Market Ford – Tea Party Nation.

Posted by Seton Motley

Note: This first appeared in Breitbart.com‘s Big Government.

 

A picture is worth a thousand words.  Here are several that tell the $82 billion auto bailout story a whole lot better than the Barack Obama Administration has.

 We have been told ad nauseum that the auto bailout was unavoidable – irrevocably necessary.  That without it, the entire American auto industry would collapse in a heap.

 Well, Ford demurred – they refused to take a government dime.

 So let us compare and contrast $50 Billion-Bailed-Out General Motors and Bailout-Free Ford.  And see what our $42 billion auto bailout loss (and counting) actually got us.

 Legend:

F = Ford (in blue)
GM = General Motors (in orange)

 Note:

“New GM” was borne out of bankruptcy in 2010, which is why their numbers pick up at that time.

 Charts From: YCharts.com and Google Finance.

 Revenue

 

 

Bailed-Out GM has had consistently higher revenue.  GM and Bailout-Free Ford track fairly evenly, with a between $4 and $4.5 billion (10%-12%) spread.

 But that’s revenue.  How did that translate into profits?

 Gross Profit Margin

 

 

Profit Margin

 

Net Income

 

 

Bailed-Out GM does worse in gross profit, and breaks about even in straight profit margin and net income.  (GM’s late 2011 spike was the result of the federal government making Government Motors purchases.)

 How are the shareholders doing?  After all, We the Taxpayers still own 500+ million GM shares – 26% of the company.  And we’re set to lose more than $14 billion – just on the GM stock with which we’re stuck.

 Stock Price

 

 

Bailout-Free Ford has been thoroughly, consistently better. 

 So, Bailout-Free Ford has in several key ways done just about as well – or better – than $50 Billion-Bailed-Out General Motors.

 So, again, the question is – why did we throw $82 billion down the auto bailout rat hole?

General Motors is Imploding — and Team Obama is Lying About It – Tea Party Nation

 

General Motors is Imploding — and Team Obama is Lying About It – Tea Party Nation.

Posted by Seton Motley

Note: This first appeared in the PJ Tatler.

 

Last week we cataloged how much General Motors (GM) likes firing people.

 

As we pointed out, 2009 was not a good year if you were a Republican-donating GM or Chrysler dealer.

 

(M)ultiple dealers who have been closed are found to have contributed millions to Republicans and mere hundreds to Obama….

 

“It became clear to us that Chrysler does not see the wisdom of terminating 25 percent of its dealers. It really wasn’t Chrysler’s decision. They are under enormous pressure from the President (Obama)’s automotive task force,” said attorney Leonard Bellavia.

 

The $82 billion automotive bailout was supposed to “create or saveAmerican jobs.  But this Republican hunt killed 100,000 gigs right out of the gate.

 

And Europe has (again) become a GM employee graveyard.

 

GM Heads Roll in Europe

 

GM intends to shed another 500 managers in Europe, adding to the 8,000 factory workers let go over the past three years as part of a massive though only modestly successful push to cut costs.

 

GM is serially throwing people over the side in part as a personnel bailing of the sinking ship.  But it appears the Bad Ship Bailout is going down even faster than we knew – or they can address.

 

Sit back and take in the additional cavalcades of terrible Government Motors news.

 

Dan Akerson Runs GM With A Tight Fist, But Appears To Be Losing His Grip

 

Series Of High Level Executions Paint A Picture Of GM in Turmoil

 

Two weeks ago, Opel chief Karl-Friedrich Stracke presented numbers to Dan Akerson. Akerson fires him.  Opel gets two interim chiefs in a week.  Last Thursday, Opel’s new design chief Dave Lyon doesn’t even start his job….A day later, global marketing chief Joel Ewanick suddenly leaves. Instead of wishing him all the best for his future endeavors, GM spokesman Greg Martin puts a knife in Ewanick’s back: “He failed to meet the expectations the company has of an employee.”…

 

It all looks like (President Obama-appointee CEO) Dan Akerson is panicking. The GM stock is at an all-time low. GM is losing market share. When July numbers will be announced this week, GM won’t look so good, industry oracles say. Mass executions always are great to deflect criticism – for a while.

 

Speaking of that “all-time low” stock:

 

We are still stuck with 500+ million shares of the stuff.  For us to break even, they must be sold at $53 per.  They debuted post-bankruptcy at $33 per.  They closed on Tuesday at $19.71 per.  Setting us up for a nearly $17 billion loss – just on the stock.

 

Speaking of those “industry oracles”:

 

General Motors Faces Head Winds Ahead Of Q2 Report

 

For GM earnings, analysts forecast 74 cents per share, down 52% from a year ago.

 

Head winds?

 

Akerson…is getting impatient with the slow pace of GM’s revival.

 

“Earnings…down 52% from a year ago” isn’t a “slow pace revival.”  It is a free fall implosion. 

Remind you of anything else?

 

U.S. Growth Falls to 1.5%; a Recovery Seems Mired

 

GM is “recovering” – like the entire Obama Economy is “recovering.”

 

And more and more, the GM jobs “created or saved” are in…China.

 

32% of first-quarter vehicle productions is going to be in China versus 30% in North America.

 

That would be Communist China.  Where Shanghai GM in 2011 sponsored a movie celebrating the “Glorious Revolution”s 90th Anniv….

 

To duck the deserved criticism:

 

Greg Martin, executive director of communications strategy for GM, told The Daily Caller in May 2011 that Shanghai GM “is a completely separate and distinct business entity based in China that has no organizational or financial ties whatsoever” with the Detroit car maker.

 

“It is not GM,” Martin said then. “It is not GM money. And it is in no shape or form, or indirectly, taxpayer money.”

 

But now that ever more of its sales are in China:

 

“Shanghai GM is GM,” Martin told TheDC on Friday. “We make money, they make money.”

 

Disingenuousness in fact abounds when it comes to the Obama Administration and GM.

 

President Obama once upon a time told us we would make money on the $82 billion auto bailout.  Which was then amended to:

 

“The government will lose less than 20 percent of the $80 billion used to bail out the U.S. automobile industry.”

 

Only now we’re poised to lose (at least) $42 billion.  And as we’ve seen, that number is serially fungible – always upward.  And reliant on Administration-provided data.  It will undoubtedly end up being even worse.

 

GM and the Obama Administration claim to have fixed the Chevy Volt fire problem – when there are at least five fires and a whole host of attending Volt charging pro….

 

President Obama continues to incessantly claim that GM is #1 in global sales – even though Toyota has now recovered from their post-tsunami devastation and .

 

President Obama in April 2010 asserted:

 

“It won’t be too long before the stock the Treasury is holding in GM could be sold ….”

 

And on, and on, and….

 

GM is allegedly an Obama Administration “success.”  This is the President trying his plan, and it “working”.

 

Yet it’s all smoke and mirrors – when it’s not outright lies.

 

Welcome to Campaign Obama 2012.

 

Media Fail: Chevy Volt Makes NO Money, Costs Taxpayers Hundreds of Thousands of Dollars Per Car – Tea Party Nation

Media Fail: Chevy Volt Makes NO Money, Costs Taxpayers Hundreds of Thousands of Dollars Per Car – Tea Party Nation.

Posted by Seton Motley

The Jurassic Press is missing much in their reporting on the $50 billion bailout of General Motors (GM).  The Press is open channeling for President Barack Obama – allowing him to frame the bailout exactly as he wishes in the 2012 Presidential election.

 The President is running in large part on the bailout’s $30+ billion loss, uber-failed “success.”  And the Press is acting as his stenographers.  An epitome of this bailout nightmare mess is the electric absurdity that is the Chevrolet Volt.  The Press is at every turn covering up – rather than covering – the serial failures of President Obama’s signature vehicle.

 The Press has failed to mention at least five Volt fires, myopically focusing on the one the Obama Administration hand-selected for attention.

 The Press has failed to mention that the Volt fire problem remains unsolved.  Is it the battery?  Is it the charging station?  Is it the charging cable?  All of the above?

 GM and the Administration don’t know.  And the Press ain’t breaking their necks trying to find out.

 In more recent news, the Press has almost as one hailed the June Volt sales increase.

GM’s Volt Sales Up in June

 

Surprising June Sales for Volt

 

Chevy Volt Leads US Plug-In Car Sales

 

Chevy Volt Sales Increases

 

Volt Records Second-Best Sales Month

 

The Press has for the most part failed to mention how pathetic this “second-best sales month” actually is.  And even when one Dinosaur does, the unwarranted enthusiasm is palpable.

GM sells 1760 Volts in June, double from 2011

 Wow.  Huge number.

 The Press also fails to put this pathetic tally in perspective.

 The Chevy Cruze is basically a Volt without the dead-weight, flammable 400-lb. electric battery.  Which makes it $17,000, rather than the Volt’s $41,000.

 Chevy in June sold 18,983 Cruzes – more than ten times the number of Volts.  And that’s down 1/3 from last June’s 24,648.

 But that feeble Volt tally has the Press all revved up.

 And speaking of the Volt’s ridiculous $41,000 sticker price:

 According to multiple GM executives there is little or no profit being made on each Volt built at a present cost of around $40,000. Furthermore, the $700 million of development that went into the car has to be recouped.

 Get that?  GM makes “little or no profit” on the Volt.

 So it makes perfect sense that GM would spend millions of dollars advertising it, does it not?  No ideological or campaign intent there, eh President Obama?

 Look, I get it, it’s fun.  I just spent $1 million – of your money – advertising free air.  On which my profit margin is just as good as GM’s is on the Volt.

 Only my ads didn’t have a song, or a dance.  We just aren’t as cool as the Volt.

 I mean, it’s so cool – it can travel back in time to inspire the production of cars before it even existed.

 I mean, it’s so cool – it can travel back in time to offer the exact same technology as a car from 1991.  And the exact same electric battery range as a car from 1897.

 We’re talking retro-grade cool.

 But wait – there’s so much more.

 (A)dd $240 million in Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea of how much taxpayer cash is built into every Volt.

 Speaking of those “tax breaks for purchasers and other consumer incentives” – as of November of last year that tally all by itself was $250,000 per Volt sold.

 And that excruciating pain is ongoing.  Again, a Volt sold makes GM no money – but costs We the Taxpayers a $7,500 bribe – I mean “incentive.”  Oh – and President Obama wants to jack that bribe to $10,000 per.

 I guess it’s good news after all that Volt sales remain so anemic.

 And with GM’s new 60-day return policy, it looks like you can buy a Volt and cash the $7,500 bribe check. Then return the Volt – and keep the $7,500 bribe cash.  How’s that for Taxpayer coin stewardship?

 Keep all of this outrageousness in mind when next the Jurassic Press joins with the Obama Administration in celebrating the Chevy Volt.

 But it (allegedly) helps President Obama get reelected.  And nothing would make the Press happier – and for that there’s (almost?) nothing they won’t do.

Congratulations to General Motors: Worst Car Stock of 2011; Chevy Volt a ‘Worst Product Flop of 2011′ Winner – Tea Party Nation

 

English: General Motors EV1 electric car

Image via Wikipedia

Congratulations to General Motors: Worst Car Stock of 2011; Chevy Volt a ‘Worst Product Flop of 2011′ Winner – Tea Party Nation.

Posted by Seton Motley on January 6, 2012

General Motors stock (NYSE: GM) finished 2011 down 46.1% – the absolute worst car or car-related product stock on the board.  Besting (so to speak) the second worst by 4.5%.

And GM’s unprofitableunpopularcombustible electric Chevy Volt was a ‘Worst Product Flop of 2011’ winner.  Oh, and GM is moving electric vehicle development (and production?) to China – which sort of undermines the jobs “created or saved” reason for the $50 billion GM bailout.

All of which is even more terrible GM news for We the Taxpayers.

Per the titanic GM stock price drop-off: As a result of President Barack Obama’s $30 billion in additional bailout coin, we own more than 500 million shares of GM stock.  To break even on our “investment,” these shares must be sold at $53 per.  GM closed yesterday at $21.15.  Which if sold today would mean for us about a $16 billion loss – just on the stock portion of the GM bailout (we’ve suffered additional huge losses on other portions thereof).

Less Government tracks the looming stock loss – and offers the solution for how we can extricate ourselves from GM – at www.BailoutCost.com.

Less Government President Seton Motley:

“From the moment the bailouts began – and General Motors became Government Motors – we have seen GM stack failure upon failure.

“There’s the unprofitableunpopularcombustible electric Chevy Volt – a ‘Worst Product Flop of 2011’ winner. That costs We the Taxpayers $250,000 per unit sold. GM sold in 2011  25% fewer Volts than they had planned – but is in 2012 bizarrely increasing production by 500%.  And despite all of this failure – including the inability to determine what is causing Volts to burst into flames – GM will next year begin producing an electric Cadillac and an electric Cruze.

“GM in 2010 received more clean (non-energy) energy patents than any other entity – of the Solyndra,TeslaFisker, uber-failure variety.

And onand onand….

“And GM and its Obama Administration-Democrat backers ludicrously tell We the Shareholders that all of this failure is a ‘success.’

“Well, GM was last year the worst car stock of all – and the Chevy Volt was an award-winning flop.  So the market ain’t buying it.  And neither are We the People.”

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