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Author: Subject: OBAMA, GM: YOU BREAK IT, YOU OWN IT

Peach Extraordinaire





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  posted on 4/2/2009 at 08:08 AM
It's often said there is a fine line between tragedy and comedy. Ably proving said axiom, the ongoing joke that is the BarryO presidency would be a laugh-riot if only the resulting disaster were not so profound.

# # #

OBAMA, GM: YOU BREAK IT, YOU OWN IT
By "You know who"

GM, now renamed Government Motors, has a new CEO: President Barack Obama.

By replacing the head of the company and demanding a restructuring of its board in return for further TARP aid, Obama has taken upon himself the responsibility for the future of the company. As Gen. Colin Powell said when Bush was considering invading Iraq and toppling the Saddam Hussein government there: "If you break it, you own it." Now it is Obama's company.

This move will backfire big time! The auto giant is very, very unlikely to be saved by this current TARP infusion. Doubtless it will need more in the near term. But the resentment now focused on the management of the company will then turn to Obama. Having demanded a replacement of the management, it is he who will be held responsible for the company's future.

And each time GM asks for more money, Obama will face a choice: take personal responsibility for laying off 100,000 auto workers or anteing up the additional cash. By inserting himself so deeply into the management of the company, Obama makes himself central to its future. If Obama lets the company fail, having already extended credit, he will have all of Michigan on his case. If he keeps coming up with more and more tax money, he will earn the contempt of the voters.

Socialism has its price. By taking over the management of a company, you become the determinant of its fate in the public's mind.

Obama does not seem to realize that government takeover is the beginning, not the end, of the problem. He should have stuck with being president and left making cars to others.

And, as the new CEO of General Motors, what will his policy be on corporate compensation? Will the public tolerate his letting his new company pay salaries sufficient to attract the talent necessary to salvaging the firm? Or will he have to rely on a bunch of kids right out of school, willing to work for one or two hundred thousand a year, for the company's salvation?

When it comes to the hard work of cutting retiree health benefits, reducing salaries, laying off workers and closing plants, is Obama willing to resist calls for his intervention? Is he up for taking the blame for all the "heartless" measures GM will have to take to salvage its future? He has put himself squarely in a position to pay a steep political price for his assumption of power at GM.

Most troubling is the sense that Obama cannot have thought this through. He can't have planned this. President Clinton used to say at strategy meetings that we needed to think three or four moves ahead and not just "kick the can down the road." Obama is clearly not following his predecessor's advice. He realized GM needed money. He knew the public would have a fit if he gave it. So he decided that he would appease his electorate by exacting blood from the company's management and directors by using his guillotine on some of its old gray heads.

But, had he thought before he acted, he would have realized that it would have been far better to have criticized GM from a distance even as he extended more money -- rather than to, in effect, take over the company.

The president's protestations that the government does not want to own a car company are quite beside the point. It's his now, and he better figure out what to do with it.

 

____________________
As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 
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A Peach Supreme



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  posted on 4/2/2009 at 09:57 AM
quote:
It's often said there is a fine line between tragedy and comedy.


Good morning “pork loin” I see we are at it early this morning. Speaking of comedy your assertion of the comedic presidency of Obama is not nearly as hilarious as your performance as Hitler at the Circle Theatre in Grand Rapids. Your portrayal of Hitler was down right hilarious. I will give credit where credit is due; your portrayal was absolutely brilliant. However, I would recommend you lay off the pork chops, I noticed the stage was buckling during your fleet footed dance routine. I don’t want you falling through the stage and hurting yourself depriving all of your fans of your next epic performance. Now that would have been a real “tragedy”!




[Edited on 4/2/2009 by PattyG]

 

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Copying from a single source is called plagiarism, copying from multiple source is called research.....

 

Zen Peach



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  posted on 4/2/2009 at 10:29 AM
quote:
It's often said there is a fine line between tragedy and comedy.
You noticed this, too??? I say this every time I see a thread generated by RBK and JPB!!!

 

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"Come on down to the Mermaid Cafe and I will buy you a bottle of wine, and we'll laugh and toast to nothing and smash our empty glasses down..."

 

Zen Peach



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  posted on 4/2/2009 at 11:26 AM

 

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RIP Hugh Duty

 

Sublime Peach



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  posted on 4/2/2009 at 12:00 PM

 

____________________


 

A Peach Supreme



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  posted on 4/2/2009 at 01:31 PM
quote:
You noticed this, too??? I say this every time I see a thread generated by RBK and JPB!!!


Both comic and tragic to be sure.

 

____________________
Copying from a single source is called plagiarism, copying from multiple source is called research.....

 
 


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