Ask The Trucker

Raising the Standards of the Trucking Industry


PoliticsTrucking

U.S. Government to Own 72.5% of GM

May
29,
2009
3

Remember when the talk about the stimulus bail out money was all about “preventing” the auto makers from going into bankruptcy?  We were told that by shelling out billions of dollars, maybe trillions, of OUR money . . . would insure that those companies would not have to file bankruptcy.  Yet, we are seeing the filings anyway.  Of course, we all know that the U. S. Government has no right to hold any kind of stakes in matters that do not fit within the Constitution.

Now, on Monday, June 1st, 2009 – General Motors is expected to file bankruptcy in U. S. Court along with the announcement of closing up to 14 of its plants.  But do not fear!   GM bondholders have agreed to a new deal that will leave them with 25% of ownership and the U. S. Government will walk away with 72.5% ownership, in a United States Auto Maker.  The deal was made when GM asked for, and will receive, ANOTHER $30.1 billion of funds.

Chrysler, is working hard to convince the Government that by selling their assets to Fiat will be “best for everyone.”  Chrysler, also is in bankruptcy.  So far, the Government is not so sure.  I would imagine the Government would think it’s best to sell to the Government!

So, here we are sitting back and watching this Administration taking over whatever they can.  It doesn’t matter that the U. S. Constitution says it’s wrong . . . they are doing it anyway.  Of course, all for the good of the “people.”  Our Government now holds high stakes in the auto industry, the home mortgage industry and they are trying hard for the health insurance industry.

Bringing back the railroad system, as I’ve mentioned in prior posts, will bring about a loss in the trucking industry . . . even though 3800 trucking companies went out of business in 2008.  I wonder what they have planned for trucking companies?   What further “disaster” may be looming in the future that will give this Administration the maneuver they need to “buy out” trucking companies?    Hey, we may all be drivers for the U. S. Government someday!

Sure, I’m being facetious, but is there anything you can say that would assure me otherwise?  Only time will tell . . . but the way things are going right now, I would be willing to bet the possibilities are closer than we think.  This is just the beginning . . . now, auto parts makers Visteon and Metaldyne filed for Chapter 11 protection for their U.S. operations.

“Power to the People” has become “Power to the Government.”

At least there is Ford . . . the one auto maker that REFUSED to take ANY of the stimulus package bail out.  Now, that’s American!

American Flag

© 2009, Allen Smith. All rights reserved.

Technorati Tags: , , , , , , , , , , , , , , , ,

Previous

Next

By: Allen Smith

Allen Smith is a 37 year veteran who started at an early age in a household goods family moving business. He began driving straight trucks in 1977 and moved to the big rigs in 1982. His experience within the industry includes; owner operator, company driver, operations manager, and owner of a long distance HHG moving business, taking many of the long haul moves himself when needed. Allen Smith, a truck driver advocate who is driven by the desire to help others succeed within an industry where injustice, unrewarded sacrifice, and lack of respect and recognition exists. Allen and his wife Donna are hosts of Truth About Trucking ”Live” on Blog Talk Radio. Other websites include AskTheTrucker, TruckingSocialMedia, NorthAmericanTruckingALerts, TruthAboutTrucking, and many Social Media websites. In 2011 Allen and Donna hosted the first Truck Driver Social Media Convention, designed to create unity and solutions for the trucking industry. This is now being extended through the North American Trucking Alerts network as those within the industry join forces for the betterment of the industry. Allen strongly supports other industry advocates who are also stepping up to the plate to help those who share honesty, guidance and direction. He believes that all those involved in trucking need to be accountable for their part within the industry, including drivers, carriers, brokers, shippers, receivers, etc… The list of supporters and likeminded people grow daily, networking together and sharing thoughts and ideas for the betterment of trucking. He has coined the popular phrase "Raising the standards of the trucking industry"

View all posts by Allen Smith →

Tagged: , , , , , , , , , , , , , , , ,

3 Responses to U.S. Government to Own 72.5% of GM. - Post a Comment

  1. Tyler

    I don’t even care, I’m so sick of people whining and complaining about the govt every day of my FU@@@@@ life! Just shutup and get on with your life, a bunch of pissed of moanin and cryin people are NOT going to change anything at all. The whole thing doesn’t effect me anyways.

  2. Truckdriversnews

    Tyler, The Govt doesn’t effect you? How did you come to that conclusion? They effect everyone and everything. Unless of course, maybe I don’t know your story but maybe you are disabled, and getting money from the Govt. But, then again that still effects you also.
    With a reply like yours maybe you should take some of your own advice and use it!

    BTW, you would be surprised just how much crying and complaining will get you..

  3. Allen Smith

    LOL … I love the way some “adults”?? articulate themselves….LOL…..a bunch of people are not going to change anything??? You need a BIG lesson in history, Tyler … moanin and cryin?? It’s a NEWS POST on a NEWS BLOG!!!! .. LOL ….. How sad is this point of view?? “Doesn’t effect me anyways.” ??? How pitiful is this? What about the thousands of other people without jobs? Allen

What do you have to say about this?

To the top