Ex-GM CEO gets retirement package worth over $10M
By TOM KRISHER and KIMBERLY S. JOHNSON, AP Auto Writers
DETROIT – Former General Motors Corp. Chairman and CEO Rick Wagoner will retire Aug. 1 with a pension and benefit package the automaker valued at more than $10 million.
Wagoner, 56, who was ousted by the Obama administration on March 30, will get $1.64 million in benefits annually for each of the next five years, plus an annual pension of $74,030 for the rest of his life, according to company documents filed Tuesday with the U.S. Securities and Exchange Commission.
Let me get this straight. AIG gets billions in taxpayer dollars, gives millions in bonuses, ACORN and the Obama Administration get their feathers ruffled and basically ruin the lives of AIG execs (class warfare and envy).
GM gets billions in taxpayer dollars. Obama basically orders its CEO to step down. GM asks for billions more and gets it. GM files for bankruptcy. Obama takes over GM for all intents and purposes. GM has a fire-sale and emerges as a "new GM". Then the failed ex-CEO of GM gets over $10 million in bonuses.
Where's the outrage toward the CEO, toward GM and toward Obama. President Obama is the one calling the shots along with his Car Czar... and then we see this headline:
Steve Rattner Resigning As "Car Czar" To Spend More Time With His Money
By Ray Wert
Treasury Secretary Geithner announced today Steve Rattner, former Wall Street financier worth more than $188 million, is stepping down after five months in Washington as the President's "car czar." He does know the U.S. automakers ain't fixed yet, right?
Although there's no firm date set yet for Rattner's departure from leading President Obama's auto task force, we're told he's "decided to transition back to private life and his family in New York City."
It's all about the money with this Administration.
Tuesday, July 14, 2009
Unemployment and Public Use
Obama: Unemployment likely to keep ticking up
By BEN FELLER, Associated Press Writer Ben Feller, Associated Press Writer
WASHINGTON – President Barack Obama on Tuesday declined to predict how high unemployment will climb but made clear he expects it to keep worsening for a while as hiring lags behind other signs of economic recovery.
"How employment numbers are going to respond is not year clear," the president said on a day when he was headed to Michigan, home of a particularly battered economy. "My expectation is that we will probably continue to see unemployment tick up for several months."
I know...I harp on this a lot. The fact that the Recovery Act was needed NOW and that it was an emergrency. We couldn't wait and actually read the bill.
Are we supposed to be soothed by Obama's statement? A couple million jobs have been lost since the Recovery Act was enacted. Obama touted it as a jobs saver. If it really is saving jobs...let us not forget that more jobs are being lost and vastly overshadows any "saved" job. When President Obama says that he has saved 150,000 jobs, he tells you this but wants you to forget the half million jobs lost every month. So instead of 2,150,000 jobs lost ONLY 2,000,000 jobs were lost....
SIDEBAR:
Watching the Sotomayor hearings. They're talking about eminent domain and the difference between public use and public purpose. Under public purpose, the State can take your land and give it to a private developer because it would increase tax revenues. Public Use (that's the one in the Constitution) I believe is taking land for use by the public, ie roads, highways, schools, libraries, municipal buildings, parks...NOT shopping malls for the profit of private developers.
By BEN FELLER, Associated Press Writer Ben Feller, Associated Press Writer
WASHINGTON – President Barack Obama on Tuesday declined to predict how high unemployment will climb but made clear he expects it to keep worsening for a while as hiring lags behind other signs of economic recovery.
"How employment numbers are going to respond is not year clear," the president said on a day when he was headed to Michigan, home of a particularly battered economy. "My expectation is that we will probably continue to see unemployment tick up for several months."
I know...I harp on this a lot. The fact that the Recovery Act was needed NOW and that it was an emergrency. We couldn't wait and actually read the bill.
Are we supposed to be soothed by Obama's statement? A couple million jobs have been lost since the Recovery Act was enacted. Obama touted it as a jobs saver. If it really is saving jobs...let us not forget that more jobs are being lost and vastly overshadows any "saved" job. When President Obama says that he has saved 150,000 jobs, he tells you this but wants you to forget the half million jobs lost every month. So instead of 2,150,000 jobs lost ONLY 2,000,000 jobs were lost....
SIDEBAR:
Watching the Sotomayor hearings. They're talking about eminent domain and the difference between public use and public purpose. Under public purpose, the State can take your land and give it to a private developer because it would increase tax revenues. Public Use (that's the one in the Constitution) I believe is taking land for use by the public, ie roads, highways, schools, libraries, municipal buildings, parks...NOT shopping malls for the profit of private developers.
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