Showing posts with label James-Pirretti. Show all posts
Showing posts with label James-Pirretti. Show all posts
Wednesday, August 14, 2013
Wednesday, August 15, 2012
General Motors
President Obama continually talks about how the government’s investment in bailing our General Motors saved the taxpayers money and helped protect jobs. Well, today’s issue of Investors Business Daily paints a far different picture.
As you may recall, the GM bailout costs taxpayers $25 billion. In return the UAW and government became the largest shareholders in GM. The Government owns 500,000,000 shares of GM stock. Yesterday the closing price of GM stock was $20.21. To break even on it’s investment the stock would have to rise to $53 a share. Only the bungler in chief would call this a victory for taxpayers.
On the jobs front the bailout tells even a worse story. First, as a result of the GM restructuring many dealers lost their dealerships. The decision as to what dealers would lose their dealership was not based on who did the best job or was the most profitable. Rather, the decision was based on gender and race: female and minority dealerships were allowed to remain open no matter how poorly they performed. In 2008 GM employed 252,000 workers. Now that figure is 207,000 – with 131,000 working in foreign plants.
GM joins the ranks of Solyndra and other alternative energy companies as horrible investments. If Obama were a financial consultant and put his clients’ money in such investments he would be sued for negligence and incompetence. Instead, the bungler in chief is asking for another four years in office.
Written by Jim Pirretti
As you may recall, the GM bailout costs taxpayers $25 billion. In return the UAW and government became the largest shareholders in GM. The Government owns 500,000,000 shares of GM stock. Yesterday the closing price of GM stock was $20.21. To break even on it’s investment the stock would have to rise to $53 a share. Only the bungler in chief would call this a victory for taxpayers.
On the jobs front the bailout tells even a worse story. First, as a result of the GM restructuring many dealers lost their dealerships. The decision as to what dealers would lose their dealership was not based on who did the best job or was the most profitable. Rather, the decision was based on gender and race: female and minority dealerships were allowed to remain open no matter how poorly they performed. In 2008 GM employed 252,000 workers. Now that figure is 207,000 – with 131,000 working in foreign plants.
GM joins the ranks of Solyndra and other alternative energy companies as horrible investments. If Obama were a financial consultant and put his clients’ money in such investments he would be sued for negligence and incompetence. Instead, the bungler in chief is asking for another four years in office.
Written by Jim Pirretti
Monday, February 20, 2012
Obama's Economic Report Card
Recently, the Obama Fan Club, also known as the mainstream media, proudly proclaimed that the Obama stimulus worked and that we have turned the corner. According to them, the unemployment rate is down and Obama has turned around the economy he inherited from Bush. Naturally, it’s always Bush’s fault.
However, a review of the latest statistics from the BLS reveal how off the above claims are.
In February 2009 the unemployment rate was 8.3%. The current unemployment rate is the same 8.3% despite spending $825 billion (the latest BLS figures) on stimulus that did not stimulate. What’s even more telling is what has happened to the number of long-term unemployed workers – those who have not been able to find any work in 27 months or more. The latest BLS figures for the long-term unemployed are that they now stand at 5.5 million, an increase of 83%.
Some other interesting statistics showing what has happened since Obama took office:
• Median annual household income has dropped by about 7% under Obama’s stewardship.
• The national debt has increased by 41% and now stands at $15.4 trillion.
• The civilian workforce has decreased by 126,000 unlike the increases that have happened when the economy recovers.
But you would never know this if you read the newspapers or watched NBC news. According to them everything is coming up roses.
Conservative Commentary from James J. Pirretti
However, a review of the latest statistics from the BLS reveal how off the above claims are.
In February 2009 the unemployment rate was 8.3%. The current unemployment rate is the same 8.3% despite spending $825 billion (the latest BLS figures) on stimulus that did not stimulate. What’s even more telling is what has happened to the number of long-term unemployed workers – those who have not been able to find any work in 27 months or more. The latest BLS figures for the long-term unemployed are that they now stand at 5.5 million, an increase of 83%.
Some other interesting statistics showing what has happened since Obama took office:
• Median annual household income has dropped by about 7% under Obama’s stewardship.
• The national debt has increased by 41% and now stands at $15.4 trillion.
• The civilian workforce has decreased by 126,000 unlike the increases that have happened when the economy recovers.
But you would never know this if you read the newspapers or watched NBC news. According to them everything is coming up roses.
Conservative Commentary from James J. Pirretti
Tuesday, October 18, 2011
Cheerleaders for Occupy Wall Street
It is becoming readily apparent that the St. Petersburg Times and the main stream media have forgotten their obligation to report news and not be a cheer leader for the Occupy Wall Street movement.
When the Tea Party was having their weekend demonstrations, the main stream media manufactured racist comments that were allegedly made by some of the demonstrators and painted the entire movement as racist. Of course, no proof was necessary that these statements were ever made or that the founders or leaders of the Tea Party made, approved, or adopted them.
Now, however, the Occupy Wall Street movement begins and since its agenda is more in line with what Democrats appear to believe, the main stream media seems to have adopted a policy of not reporting statements, endorsements, or actions taken by its supporters.
Here a just a few of the no news items that failed to be reported:
· On Sunday the American Nazi Party endorsed the Occupy Wall Street movement. The statement urged all Nazis to “take part and join in…Produce some flyers EXPLAINING the ‘JEW BANKER’ influence.”
· On that same day the American Communist Party endorsed the same movement saying the objectives of both are to end capitalism in the U.S.
· In Los Angeles, protester Patricia McAllister, who identified herself as an employee of the Los Angeles Unified School District, said on TV “I think that the Zionist Jews, who are running these big banks and our Federal Reserve, which is not run by the federal government, need to be run out of the country.”
· In Portland OR marchers sang a song “F__k the USA.”
· In NYC one protester defecated on a police car.
· In many protests the U.S. flag was desecrated and stomped on.
· In NYC protesters carried signs that said “Google for Wall Street Jews, Jewish Billionaires.”
· The conduct of the demonstrators is never discussed. In NYC the owner of Panini & Co Breads said, “I’ve had a lot of damage from the protesters. I’ve had to put a $200 lock on my bathroom because they come in here and try to bathe. The sink fell down to the ground, cracked open, pulled the plumbing out of the wall and caused a flood..”
It is a sad day when newspapers and the main stream media become cheerleaders and no longer report all of the news.
Conservative Commentary by James J. Pirretti
When the Tea Party was having their weekend demonstrations, the main stream media manufactured racist comments that were allegedly made by some of the demonstrators and painted the entire movement as racist. Of course, no proof was necessary that these statements were ever made or that the founders or leaders of the Tea Party made, approved, or adopted them.
Now, however, the Occupy Wall Street movement begins and since its agenda is more in line with what Democrats appear to believe, the main stream media seems to have adopted a policy of not reporting statements, endorsements, or actions taken by its supporters.
Here a just a few of the no news items that failed to be reported:
· On Sunday the American Nazi Party endorsed the Occupy Wall Street movement. The statement urged all Nazis to “take part and join in…Produce some flyers EXPLAINING the ‘JEW BANKER’ influence.”
· On that same day the American Communist Party endorsed the same movement saying the objectives of both are to end capitalism in the U.S.
· In Los Angeles, protester Patricia McAllister, who identified herself as an employee of the Los Angeles Unified School District, said on TV “I think that the Zionist Jews, who are running these big banks and our Federal Reserve, which is not run by the federal government, need to be run out of the country.”
· In Portland OR marchers sang a song “F__k the USA.”
· In NYC one protester defecated on a police car.
· In many protests the U.S. flag was desecrated and stomped on.
· In NYC protesters carried signs that said “Google for Wall Street Jews, Jewish Billionaires.”
· The conduct of the demonstrators is never discussed. In NYC the owner of Panini & Co Breads said, “I’ve had a lot of damage from the protesters. I’ve had to put a $200 lock on my bathroom because they come in here and try to bathe. The sink fell down to the ground, cracked open, pulled the plumbing out of the wall and caused a flood..”
It is a sad day when newspapers and the main stream media become cheerleaders and no longer report all of the news.
Conservative Commentary by James J. Pirretti
Subscribe to:
Posts (Atom)
