GM Keynote Address Spells Trouble

Rick Wagoner paused while giving his keynote address at the Consumer Electronics Show in Las Vegas. The CEO of General Motors on January 8 2008. But why report this now? It is because until today what he had to say had not been reported. I guess with the Stock Market on the roller coaster ride, the General Motors people did not want to loss any of their stock holders. So What was it that he spoke about in his Keynote address. Well, it may be better if I just cut and paste what a reporter stated in the news article.

DETROIT Feb 12, 2008 (AP) The Associated Press
--General Motors Corp. reported the largest annual loss for an automotive company Tuesday and said it is making a new round of buyback offers to U.S. hourly workers as it struggles to turn around its North American business amid a weak economy. GM said it lost $38.7 billion in 2007. The loss largely was due to a third-quarter charge related to unused tax credits. The Detroit-based automaker also on Tuesday said it was offering a new round of buyouts to all 74,000 of its U.S. hourly workers who are represented by the United Auto Workers. The 2007 loss topped GM's previous record in 1992, when the company lost $23.4 billion because of a change in health care accounting, according to Standard & Poor's Compustat. Excluding the tax charge and other special items, GM lost $23 million, or 4 cents per share, for the year, compared with a net income of $2.2 billion in 2006, beating Wall Street's expectations. Analysts polled by Thomson Financial expected GM to post a full-year loss of 95 cents per share.

GM posted a loss of $722 million, or $1.28 per share, in the fourth quarter, compared with a net income of $950 million in the year-ago quarter. Fourth-quarter charges included $622 million to Delphi Corp., GM's former parts division, for its restructuring efforts. GM reported $181 billion in revenues for the year, down from $206 billion in 2006. Its automotive business saw record automotive revenues of $178 billion in 2007, up $7 billion from a year ago thanks to growth in emerging markets and favorable exchange rates. But GM's North American division continued to struggle, posting a $1.5 billion loss for the year.

GM's results also were dragged down by its 49 percent stake in GMAC Financial Services, which lost $2.3 billion in 2007. GM reported a $1.1 billion loss attributed to GMAC. GM barely retained its title as the world's largest automaker in 2007, selling just 3,000 more vehicles than Toyota Motor Corp. GM sold a total of 9,369,524 vehicles worldwide, up 3 percent from the year before. Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.--

Now I am No Expert, but even I know that it spells trouble for the American Workers Jobs again. After all They have been sending American Jobs to their plants overseas, Laying off American Workers for Years. How do they expect Americans to by their cars if Americans do not have the jobs and incomes to buy the cars.

Just like I always say: "A Working Economy Only Works When The People In That Economy Are Working!"

Do you think that the American Major Corporations who are solely for Global Economy ever going to get it? My answer as always - They are too greedy.

Is McCain Slipping?

With Mitt Romney out of the Race it appeared that McCain was a shoe-in for the Republican presidential nominee. But today it Was Huckabee who won Kansas on Saturday January 09 2008 for the Republican Primary.

McCain went to the states that were to participate in todays primary, to woo them into voting for him. He is trying desperately to prove that he is a conservative Republican. In less than 12 hours, McCain campaigned in Seattle, Washington, in Norfolk, Va., and in Wichita, Kan. He spoke of uniting the Republican party. But in the areas that are known to be extremely conservative his reception did not go very well. There were jeers and boos, with a lot of the old time conservative Republican not trusting McCain.

"He's betrayed not just the conservative movement but the Republican party, year after year, in the Senate, and he will not get my support," said conservative activist Ruth Malhotra. The same type of sentiment has been mentioned time and time again from many conservatives.

The Republican party is showing even more signs of split with a close win in the Conservative Political Action Conference presidential straw poll, today, in Washington. The straw poll is non-binding and largely meaningless, and the results should not be read as representative of the conservative movement. The Results of the Straw Poll from the 1,5558 votes that were cast has: Romney leading the pack at a 35% with McCain following closely behind at a 34% while Huckabee and Ron Paul are both tie with a 12%. Only 5% are undecided with other at 1%.

Madden, The spokesman for Romney's campaign told ABC: "Gov. Romney is thankful for the support grassroots conservatives have shown toward his campaign. The governor promises to be an important voice for them and their issues, within the Republican Party, as he works to bring the party together behind the eventual nominee."

Clean Sweep for Obama

On Saturday February 9 2008, Obama sweep the primary states today. In Washington state Obama held a 68 percent over Hillary's 32 with 94 Percent of the precincts in. In the early hours In Louisiana it looked like Hillary may win but by the time that 74 percent precincts were counted Obama was on top with 53 to Hillary's 39 percent. Obama also won the state of Nebraska. But his biggest win so far is the Virgin Islands, there Obama won with a 90% margin over Hillary's 10 percent. No candidate, not JFK, not Bill Clinton, not even Reagan had come close to winning that much of a percentage in any primary.

When we speak of the total delegates thus far, however, Hillary's total of delegates is still ahead of Obama's. Yet the total number of Hillary's delegates only numbers 60 more than Obama's. It is less than 1 percent.

Imagine if Obama did as the News commentators said he should do early on, when they said he should cut his losses. But, as it seems, the News commentators don't know everything. The one factor not added to the equation were the states with the voters who do not follow the polls, with the voters who do not follow what the other states did, with the voters who do have minds of their own and have decided to make up their own minds.

The day for excepting what we are given as a choice is over. People can and will decide for themselves as long as they continue to be given the right to do so. This is a true historical moment for All Americans.

Now who will be the presidential nominee, we do not know yet. There are still a few more primaries to go. And it could go either way.

Rebate Checks in May?

The following Article I picked up on ABC news on-line. '

Rebate checks could begin arriving in May. They would be based on 2007 tax returns, which are due April 15.
The Senate's 81-16 vote capped more than a week of political maneuvering. The logjam broke when majority Democrats dropped their demand that rescue proposal offer jobless benefits, heating aid for the poor and tax breaks for the home building and energy industries.
GOP senators blocked those ideas, but agreed to add $300 rebates for older people and disabled veterans to a $161 billion measure the House passed last week.
Bush called the bill "robust, broad-based, timely, and it will be effective." The compromise, he said in a statement after the Senate acted, was "an example of bipartisan cooperation at a time when the American people most expect it." The White House said Bush would sign the bill sometime next week.'

Once again Republicans have done what they always do when they are in the White House for 8 years, they destroy the ECONOMY by the 8th year. RIGHT ON SCHEDULE. Republicans are so predictable. 8 Years with Nixon and Ford policies - RECESSION catches up at end of 8th year. 8 years of Regan - RECESSION catches up at end of 8th year. With 4 more years of RECESSION with Bush Senior. 8 years of GW Bush - RECESSION now catches up by the end of 7th year. Have to admit, REPUBLICAN are experts at creating RECESSIONS. Good job! And now it's bail out time.

One day after Super Tuesday

John McCain looks to be the front runner for the Republicans. But on the Democratic side the delegates have not all been counted. They are still being counted, one day after Super Tuesday, in the afternoon. Although Hillary did get the big delegate states, Obama still has a chance to win the delegates. He already won 13 states to Hillary's 8 states on Super 5. It looks like it could be either one after the final count is in.

Super Tuesday Economic Failure

Super Tuesday is a failure for the Stock market and America's economy. Many have been saying around the country that we are already in a recession. However, President Bush, the Republicans, and wall street are all avoiding the term recession. There is one thing I have to ask, with all the knowledge about economics the Republicans claim to have, why is it they do not understand the one simple rule for a working economy? 'A working economy only works when the people in that economy are working.' Strange how none of the Republican experts know this simple rule. Because if they did then in 2002 they would have never given GOVERNMENT financial incentives to corporations to take American high tech and other jobs overseas. If they knew the simple rule of a working economy, they would have never changed the rules of engagement in the foreign trade agreement that slowly took jobs away from Americans during the Nixon years. Take a look during each time. 1970s while slowly through those years of Nixon taking jobs away from the American workers, producing less products with less exports out of the country, having more imports of foreign products competing with American products, closing production all together with some companies who opened production in foreign countries by late 1970s the ugly monster of recession showed itself. During the 1980's slowly through those 8 years of sending more jobs overseas, closing more plants, less production in American products being sent overseas with more Foreign imports coming in competing with the few products produced in America gave way to an even more frightening horrid creature of a depression. This time beginning when GW Bush took office in the White House, the recession monster has sprung out from hiding, with the 2002 Government financial incentives for companies to send American high tech and other jobs overseas. Bush said:"We are no longer a High Tech America We are a service America." What a joke!

Yes We Can

It was a creed written into the founding documents that declared the destiny of a nation, Yes We Can. It was whispered by slaves and abolitionists as they blazed it's trails toward freedom, Yes We Can.... It was sung by Immigrants as they trudged out deadly shores, Pioneers pushed westward against unforgiving moments, Yes We Can. It is the Call for workers Organized, Women who reached for the ballots, a president who chose to move us to a new frontier and King who led us to the mountain top pointing to the promise land, Yes We Can. Yes we can to justice and equality, Yes We Can..., Yes We can to opportunity and prosperity, Yes We Can to opportunity and prosperity, Yes we can Heal this nation, Yes We can prepare this world, Yes we can. Yes We Can. Yes We Can, We know the battle ahead will call. Always remember that no matter what obstacles stand in our way nothing can stand in the way the power of millions of voices calling for change, We Want Change..., We have been told we cannot do this by a force of census, it'll only grow louder and more distant, And asked to paused for a reality check, we've been warned against offering people of this nation false hope. But in this unlikely story of America there is NOTHING false about hope. I want change..., And the hopes of the little girl who goes to Public school in Dillon are the same as the hopes of a little boy who learns in the streets of L.A. - We will remember that there is something happening in America that we are not as divided as our politics suggests. We are one People, We are one Nation, and together we will begin the next GREAT Chapter in the American story, with three words that will ring out from coast to coast, from sea to shining sea YES WE CAN YES WE CAN YES WE CAN... - On YouTube type in the tree words 'YES WE CAN' for the music version of Obama's speech. Obama08 Yes We Can!