In The News 11-19-08

Anybody looking for a Japanese automaker…cheap? Ford has joined GM, taking their stake in Mazda to the pawn shop. GM received $230M for Suzuki, and Ford will receive $538M for their stake in Mazda. My question is, “What took you soon long?”

The auto industry is already on the hook for $25B, but without any qualms, they have “come a callin‘” yet again for another $25B. Asked today if he thought this would be the last time he and his cronies would come to the well for another drink, and the chairman of GM stated that [paraphrase],

“…if you [Congressman] can assure us that the financial markets will be better, then we won’t have to ask for more“.

Wow, I can’t wait to invest in a business that says publicly that their survival depends solely on a robust economy, and not necessarily the company’s ability to produce a good product! The congressman commented, “So you will be back.”

Julian Bond has taken the election of Obama as his time to announce his retirement as chairman of the NAACP. The NAACP has a new CEO, Benjamin Jealous, and will replace Bond as well. My thought? With a new Black president, shouldn’t they just shut the entire organization down?

Today was the 30th anniversary of the term “drinking the kool-aid“, yes the Jonestown Massacre was 30 years ago today. This is still the 2nd largest group of Americans to die, the largest being the folks who died during the World Trade Center towers terrorist attack.

What most people may not remember about the Jonestown incident is that Jim Jones was supported by Jerry Brown, who would later become the governor of California, of course a Democrat. And the incident that prompted the “the final solution“, was when Rep Jackie Speier a Democrat from California was shot five times while trying to leave Jonestown. Apparently that Democrat didn’t find Nirvana in Jonestown as expected.

File this under “Bonehead Move”. I started monitoring the news coming from Yahoo a while back, because I found it to be very liberal in its reporting. Well I now know why.

One of Yahoo’s founders and CEO Jerry Yang will be stepping down. The noteworthy thing here is that Microsoft attempted to buy Yahoo a few months back for roughly $31 a share. Yang was chiefly responsible for the sale not happening. Well today the stock is selling for roughly $10. So I know that company is being run by Liberals.

I have to say that Yang does have guts. If I were him, I would have made this announcement from a tropical location…by Blackberry. I wonder if they will be throwing him a party?

File this under “Desperation”. Yes, the financial disaster created by Barack Obama, Barney Frank, and Chris Dodd, and their predecessors, namely Jimmy Carter and Bill Clinton has affected Americans to such a degree, that people are considering… joining the military! You know you must be desperate for work, when your life will depend on the protection of Barack Hussein Obama and a Congress controlled by Democrats!

CITIGROUP: Citigroup steps up. Yes today Citigroup announced that they will be cutting 52,000 jobs, so they get my “Wear Your Cup” award. They didn’t run to the government begging for a bailout, like a bunch of pansies. They did what companies do in trying times, which is to cut costs, tighten the belt.

Unlike the automakers who refuse to confront the unions, who instead are attempting to extort the Fed.

If we fail, it will be catastrophic to the US economy“, said one auto industry executive.

Whatever. File bankruptcy. This is the time for the auto industry to become circumspect, and to stop being a dinosaur. Will it hurt, yes, just like Citibank, but they made the bold move.

That’s my rant!

© 2008 Kevin Jackson – The Black Sphere All Rights Reserved

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