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GM Will Spend $109 Million To Preserve 96 Michigan Jobs

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Fri, 05/13/2011 - 10:10 | 1271541 TheTmfreak
TheTmfreak's picture

Kind of like that white house temporary job initiative?

Fri, 05/13/2011 - 10:33 | 1271637 nope-1004
nope-1004's picture

Clearly the average Goldman employee is overpaid.


Fri, 05/13/2011 - 10:35 | 1271654 TheTmfreak
TheTmfreak's picture

Are they? They sure can accumulate a hell of a lot of money (private and public) for their company...

Fri, 05/13/2011 - 10:54 | 1271724 TruthInSunshine
TruthInSunshine's picture


Actual Unemployment Rate = 22% (see John Williams SGS *Shadow Government Statistics* alternative unemployment rate reflecting methodology that includes "long-term discouraged workers" that the Bureau of Labor Statistics in 1994 under the Clinton Administration redefined away from those considered "unemployed."

Real Inflation Rate = 8.8% Annualized (with a head of steam baked into the cake to possibly accelerate this significantly by Q3)

Government Net Transfer Payments = 51% of U.S. Population

1 out of 7 Americans on SNAP (aka Food Stamps)

U.S. Deficit (Annual Revenues - Expenditures) = -1.9 Trillion

U.S. Debt = Officially stated as 15 Trillion as of 2011 (actual is 56 Trillion to 202 Trillion; reference David M. Walker & Laurence Kotlikoff) - U.S. Is Bankrupt

U.S. Government Spending as % Component of U.S. GDP at Present = Approx. 1.6% (so if GDP is stated as 3.2%, U.S. 'Organic' GDP is only rising at 1.6%)

Approximate % of GDP Growth that is Nominal & Attributable to Inflation = 1.1% (so that 'Organic' 1.6% Growth in GDP is closer to 0.5% - not enough to stop further job losses and close to the point whereby we could start contracting again very soon)


You're Doing A Heckuva' Job, Bernank! (crushing consumption and organic economic & job growth while ratcheting inflation higher, all in one fell swoop)

Fri, 05/13/2011 - 11:04 | 1271785 nope-1004
nope-1004's picture

The current discussion about rising food prices and the fears of inflation are largely overstated.  I attribute increases in food prices in developing nations a result of the people in those nations having more sophisticated diets.


- Benocide



Fri, 05/13/2011 - 10:32 | 1271644 MisterAmbassador
MisterAmbassador's picture


Tyler, who seriously gives a phuck anymore?

It's all over.

Tyler, do you happen to actually look like 1990s Brad Pitt?  If so, and if I were gay, I'd totally hit that...

BTW, Tyler is just part of my delusion, everyone.  Just wait until I shoot myself in the cheek...

/snorts anotha line of coke/

Gonna be a hell of a weekend, my ZeroHedge anonymous friends who know me better than most...  A hell of a weekend, indeed.

"If you erase the debt record, we all go back to zero..."

If I die, the Big Bang just happens again...

Have a good weekend, everyone.  I know I will.  Flag this as junk to make yourselves feel better.

Fri, 05/13/2011 - 10:44 | 1271681 tmosley
tmosley's picture

I thought your codename was "Duchess".  What gives, Mister Ambassador?

Fri, 05/13/2011 - 11:46 | 1271892 TheAkashicRecord
TheAkashicRecord's picture

I use Archer as a litmus test for taste.  

Fri, 05/13/2011 - 11:05 | 1271792 Abitdodgie
Abitdodgie's picture

Hook me up !

Fri, 05/13/2011 - 16:09 | 1272758 -Michelle-
-Michelle-'s picture

Strangely enough, this is pretty much how I feel at this point.  Minus the gay and the coke.

Fri, 05/13/2011 - 10:33 | 1271647 aint no fortuna...
aint no fortunate son's picture

I guess we know who picked up the tab at Tryst

Fri, 05/13/2011 - 10:11 | 1271546 LawsofPhysics
LawsofPhysics's picture

Fuck GM, the taxpayers want their money back.

Fri, 05/13/2011 - 10:12 | 1271553 TheTmfreak
TheTmfreak's picture

Taxpayers (non GM) never wanted tax dollars to go there in the first place.

Fri, 05/13/2011 - 11:40 | 1271811 hedgeless_horseman
hedgeless_horseman's picture

More saving or creating jobs...

Allied Bank (new bailed-out GMAC) is now a heavy supporter of National Public Radio, helping to perpetuate the "journalistic" tradition of NPR reporters interviewing other NPR reporters as "experts" on any and all topics.

Fri, 05/13/2011 - 11:51 | 1271895 TheTmfreak
TheTmfreak's picture

While I always knew NPR was awful there was one story that finally did it in for me. The "experts" they bring are just awesome...

This one random story about the civil war. This woman who was an "expert" on civil war history stated that "only blacks were slaves" during that time. I did what anybody with common fucking sense did. (Call my congressman and demand these people be put under?) No, I turned it off.

Fri, 05/13/2011 - 12:04 | 1271932 tmosley
tmosley's picture

Indentured servitude had long since been disappeared by the time of the Civil War, though it was still legal until the end of the 1800's.

Or were you talking about Indians, or other nations, or what?

Fri, 05/13/2011 - 12:52 | 1272132 TheTmfreak
TheTmfreak's picture

Oh i'm definitely not talking about indentured servitude. Exactly what you're saying. Literally what that woman said was "blacks were the only slaves." Which is a flat out false statement. It certainly reinforced to never assume anybody is an "expert." I also learned that very much later in life, when I was able to take the reins and be a somewhat "decision maker." Thats when i found out everybody is just making the shit up as they go.

Fri, 05/13/2011 - 13:48 | 1272304 hedgeless_horseman
hedgeless_horseman's picture

It used to be the case that reporters would actually leave the studio to interview witnesses, experts, and men and women on the streets.  Now, on NPR and most other MSM programs, they sit at a computer and interview their fellow "journalists" who give their "expert opinions" which we are supposed to believe to be the facts.



Fri, 05/13/2011 - 14:12 | 1272374 TheTmfreak
TheTmfreak's picture

And these dogmatic fools like to talk about how NPR actually brings news rather than just "celebrity gossip" like they claim other news stations do. (I'm not defending mainstream news).

Meanwhile they run stories like lets take a look at "Bill Clinton" a little 6 year old boy in Kenya, or some stupid bullshit like that. That is NOT fucking news. They do that all the time. I remember when they were running this "Story" and it was such a give a fuck less "story." There is hardly any defending this organization, any more than the rest. I'm not going to go around and just repeat the traditional line "Their LIBERAL LIBERAL LIBERAL." I'll just say they're a bunch of dumbasses and hypocrits.

Fri, 05/13/2011 - 14:54 | 1272507 hbjork1
hbjork1's picture


+1.  I think your posting is completely correct.  One group of my forebearers had been pre-Civil War southerners and a great grandfather had lost 3 brothers as soldiers for Confederacy.  I was raised in the northern edge of the "South" with a number of family friends who could talk about what "grandaddy did during the Civil War". 

I had the feeling that the "Trail of Tears" was avoided because it was embarrassing but questions surrounding the civil war were openly discussed. 

I am pretty sure that any "white" servitude was voluentary, although there were many "shavecroppers" who were poorly paid.    

Fri, 05/13/2011 - 10:12 | 1271554 williambanzai7
williambanzai7's picture

I read somewhere today that global vehicle ownership peaked 5 years ago.

Fri, 05/13/2011 - 11:19 | 1271820 Dr. No
Dr. No's picture

I bet the same could be said of houses.

Fri, 05/13/2011 - 12:15 | 1271974 sun tzu
sun tzu's picture

I doubt it. China has just surpassed the US in auto sales in the past few years. More people in India, Africa, South America, and Seatheast Asia are buying cars. It might have peaked in Europe and North America, but the rest of the world is just getting started.

Fri, 05/13/2011 - 12:45 | 1272103 JR
JR's picture

General Motors is a post office that makes cars.

Fri, 05/13/2011 - 10:17 | 1271555 GetZeeGold
GetZeeGold's picture


Lottery jobs bitchez!


.....and no....you can't just have the million dollars....nice try.



Fri, 05/13/2011 - 11:56 | 1271911 hedgeless_horseman
hedgeless_horseman's picture

"This additional GM investment...is a testament to all the UAW Local 599 members who have worked so hard."

I see the clouds that move across the sky
I see the wind that moves the clouds away
It moves the clouds over by the building
I pick the building that I want to live in

I smell the pine trees and the peaches in the woods
I see the pinecones that fall by the highway
That's the highway that goes to the building
I pick the building that I want to live in

It's over there, it's over there
My building has every convenience
It's gonna make life easy for me
It's gonna be easy to get things done
I will relax alone with my loved ones

Loved ones, loved ones visit the building,
take the highway, park and come up and see me
I'll be working, working but if you come visit
I'll put down what I'm doing, my friends are important

Don't you worry 'bout me
I wouldn't worry about me
Don't you worry 'bout me
Don't you worry 'bout me

I see the states, across this big nation
I see the laws made in Washington, D.C.
I think of the ones I consider my favorites
I think of the people that are working for me

Some civil servants are just like my loved ones
They work so hard and they try to be strong
I'm a lucky guy to live in my building
They own the buildings to help them along

It's over there, it's over there
My building has every convenience
It's gonna make life easy for me
It's gonna be easy to get things done
I will relax along with my loved ones

Loved ones, loved ones visit the building
Take the highway, park and come up and see me
I'll be working, working but if you come visit
I'll put down what I'm doing, my friends are important

I wouldn't worry 'bout
I wouldn't worry about me
Don't you worry 'bout me
Don't you worry 'bout ME...


Fri, 05/13/2011 - 10:14 | 1271560 RobotTrader
RobotTrader's picture

New auto industry ETF came out today.

It's called CARZ...


Fri, 05/13/2011 - 10:21 | 1271583 Hondo
Hondo's picture

Good.....short it!

Fri, 05/13/2011 - 10:15 | 1271565 Mercury
Mercury's picture

Now that's winning the future!

Fri, 05/13/2011 - 10:15 | 1271566 tawdzilla
tawdzilla's picture

The gov't stake in GM is only transitory

Fri, 05/13/2011 - 10:20 | 1271586 Mercury
Mercury's picture

Anyone with a Bloomberg (I'm sure it can be reproduced elsewhere) can see that entire transitory portfolio in all it's glory here:

PHDC REV C 177622 [GO]

Fri, 05/13/2011 - 10:21 | 1271591 lizzy36
lizzy36's picture

The Black Plague was only transitory.

Fri, 05/13/2011 - 10:35 | 1271646 tip e. canoe
tip e. canoe's picture

nice one lizzy

Fri, 05/13/2011 - 10:37 | 1271663 InconvenientCou...
InconvenientCounterParty's picture

genus homo sapien is transitory.


Sat, 05/14/2011 - 13:50 | 1274423 Freddie
Freddie's picture


Barrons now is pimping every week for Obama, GM and GE.    Based on Barrons analysis - you would think GM is Amazon, Apple, Google and Chiptolte.  The must own stock.  Incredible.

Fri, 05/13/2011 - 10:16 | 1271573 hugovanderbubble
hugovanderbubble's picture

Chicago >Train

Fri, 05/13/2011 - 10:19 | 1271574 nobusiness
nobusiness's picture

At least that explains why the Michigan Survey was up

Fri, 05/13/2011 - 10:26 | 1271600 Sophist Economicus
Sophist Economicus's picture

Mystery Bud Lite drinkers at Tryst solved too!

The Bud lites were for a couple of the union hall boys that tagged along with the politicos and UAW honchos that arranged this assine deal!


Those UAW guys, always looking out for the rank-and-file

Fri, 05/13/2011 - 10:20 | 1271576 Atomizer
Atomizer's picture

Change You Can Believe In

Fri, 05/13/2011 - 10:17 | 1271577 Hondo
Hondo's picture

I'd never ever buy a GM car.....never have never will.

Fri, 05/13/2011 - 10:20 | 1271590 duo
duo's picture

Exactly.  It's not in my economic interest to buy a product where the profits are used to buy politicians and support unions who have sworn to destroy my standard of living.

Fri, 05/13/2011 - 10:27 | 1271605 TheTmfreak
TheTmfreak's picture

I have been looking around leisurely for a good deal on a Diesel 4x4 truck so for shits and giggles I looked at buying a new one from Ford (F250) and GM (i would never buy from them but thought i'd check).

Sure enough the exact same truck at GMC was like 2 or 3k cheaper than Ford. Wonder how thats possible....

Fri, 05/13/2011 - 10:25 | 1271612 SheepDog-One
SheepDog-One's picture

With full taxpayer funding, anything is possible.

Fri, 05/13/2011 - 10:29 | 1271618 TheTmfreak
TheTmfreak's picture

So said the Soviet Union...

Fri, 05/13/2011 - 10:38 | 1271653 GetZeeGold
GetZeeGold's picture


So said the Soviet Union...





Fri, 05/13/2011 - 18:16 | 1273160 Maos Dog
Maos Dog's picture

there are good deals to be had on f250's if you look at used fleet vehicle sales. Yes, they have crazy mileage for their age, but they are well maintained. Start with Ebay and Enterprise

Sat, 05/14/2011 - 00:11 | 1273761 TheTmfreak
TheTmfreak's picture

I've looked at other places. I've seen some great deals. There is no doubt about it that I'll be buying an F250. I don't think i can bring myself to pay for a new vehicle for what those cost. I bought my current car with some serious discounts. (About 6k off the sticker price). I doubt I'd be able to get even close to that on the truck.

I've seen some that are like 70k miles for 18k. Not a bad price if you ask me.

Fri, 05/13/2011 - 11:12 | 1271801 duo
duo's picture

ditto for GE, Monsanto, etc.

Fri, 05/13/2011 - 11:13 | 1271802 riley martini
riley martini's picture

  Only the banksters should be given free money to buy politicians, all wealth should flow in one direction not. Nice post let me guess a ditto head or a Tea Partier who never stood up and fought for a living wage . Now aren't they bitter the Tea Partiers will be led to lower wages and more bitterness.


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