Monday, March 30, 2009

Dear President Obama: The evidence indicates you've lost your fricking mind.

The thought occurred to me in a rather frightening way, that you don't have someone like me at the table.

You don't have someone there who will look at you and tell you that what you want to do in a given situation, flat out, "stuck on stupid," wrong.

Or, as I would put it a bit more succinctly, "stupid... moronic... idiotic... irresponsible... short-sighted... damaging... dumber than a box of rocks... sheer, unadulterated idiocy."

As far back as the Ides of March with another tonedeaf leader in the past, EFFECTIVE leaders include those unimpressed with their positions, so they'll be told the truth.

The market is weighing in on your stupidity and interference, down almost 300 as I write this. Mr. President, you have no more idea on how to run GM then you do how to stop smoking... which, come to think of it, you ALSO don't know how to do... some example to our children YOU are.

How has GM stock responded to your arrogant idiocy? As of this writing, the stock is off 20%.

Now, Mr. President, companies around the world in all areas of business will be asking themselves: Am *I* going to get the call? Is this moron going to fire ME?

Mr. President, clearly, you know no more about running business then you do foreign policy. You're as clueless about this as you are the deficit.

And one thing I bet is this: You would never DARE fire the management of the autoworkers unions, would you?


MARCH 30, 2009, 12:09 P.M. ET

Obama Outlines Plans for GM, Chrysler

WASHINGTON--Warning that they can't depend on unending taxpayer dollars, President Barack Obama on Monday gave General Motors Corp. and Chrysler LLC a brief window to craft plans that would justify fresh government loans.

[GM CEO Rick Wagoner] Associated Press

DETROIT IN CRISIS: The ouster of Rick Wagoner, shown at a February news conference, is a milestone in the state's intervention in the economy.

"We cannot, we must not, and we will not let our auto industry simply vanish," President Obama said at the White House.

"What we are asking is difficult," he said. "It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognize that they cannot hold out for the prospect of endless government bailouts."

The remarks come a day after the administration ousted GM Chief Executive Rick Wagoner and rejected the restructuring plans that GM and Chrysler had hoped would lead to another infusion of government cash. Instead, the White House is giving GM 60 days to come up with a strategy for viability. Chrysler has a month to wrap up a partnership with Italy's Fiat SpA.

General Motors Corp. (GM) is expected to hold a news conference Tuesday morning to respond to the White House's rejection of the auto maker's restructuring plan, a person familiar with the plans said.

The administration says a "surgical" structured bankruptcy may be the only way forward for GM and Chrysler, and President Obama held out that prospect Monday.

"I know that when people even hear the word 'bankruptcy,' it can be a bit unsettling, so let me explain what I mean," he said. "What I am talking about is using our existing legal structure as a tool that, with the backing of the U.S. government, can make it easier for General Motors and Chrysler to quickly clear away old debts that are weighing them down so they can get back on their feet and onto a path to success; a tool that we can use, even as workers are staying on the job building cars that are being sold."

The firms, hobbled by the economic downturn and years of reliance on sport-utility vehicles, will receive an unspecified amount of working capital from the government while they hone their new plans.


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