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Detroit, 6:43 AM
Thu Nov 26
22 posts in the last 24 hours
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11/19/09
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Kind of like when you couldn't make rent right after you finished college, and scared your parents into lending you $1,500. But you didn't tell them that you spent $400 of this on concert tickets and beer, and when you paid them back $200 early it was just so that they'd forget about the remainder.
11/20/09
#tips
11/19/09
11/19/09
Let's assume that the profit on the materials can outpace the facility overhead cost, and break it down to where all losses are associated with personnel, both labor and administration.
Let us furthermore assume that the taxpayer funded loan was a gift, and that none of it will come back.
Then, let us assume that the funds remained within North America.
With approximately 112,000 employees in North America, 8.6 billion dollars works out to $76,785 per worker that the taxpayers have spent.
Fire them all, and give me back my money. All $30 of it ($8.6 billion divided by the current US population of 300 million is only $28.67; The $1.33 is interest)
11/19/09
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11/19/09
Also, faring, not fairing.
/grammarian
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11/19/09
Hopefully, GM will learn the lesson and not stagnate. Next time, the taxpayers won't be so willing to hand over billions on a silver platter.
But then again, this isn't exactly the first time, either. Do we, as a species, ever learn?
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11/19/09
I quit building when it became more expensive to build one than to just buy a workstation off eBay.
11/19/09
Thomas D. Hopkins is Professor of Economics at Rochester Institute of Technology. He served as Dean of the College of Business 1998-2005 and as President, U.S. Business School in Prague, Czech Republic, an RIT MBA program where he taught 1992-98. He was the Arthur J. Gosnell Professor of Economics in RIT's College of Liberal Arts, 1988-98. Hopkins held senior management positions in two White House agencies during the Ford, Carter and Reagan Administrations; in 1979 President Carter appointed him a charter member of the federal government's Senior Executive Service. In the early 1980s, he served as Deputy Administrator, Office of Information & Regulatory Affairs, in the Office of Management & Budget. His research on business burdens of government regulation has been sponsored by the Organization for Economic Cooperation & Development (OECD) in Paris and the U.S. Small Business Administration (SBA) in Washington. He has testified on regulatory policy issues before committees of the U.S. Senate and House, and Canada's House of Commons. He co-authored a 2001 SBA report, "The Impact of Regulatory Costs on Small Firms," as well as National Research Council reports on marine transportation, the Exxon Valdez oil spill, and trucking/rail/barge transportation. He previously was on the faculty of American University, University of Maryland, and Bowdoin College.
Yeah, sounds like a total moron.
11/19/09
09/15/09
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09/15/09
Britain gets two things right: car purchases (usually) and traffic lights. I love that yellow-before-green thing.
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