Waxman Throttled On Auto Bailout: 'Teachers Get Screwed, Unions Win Big'

Chrysler and GM in the crosshairs.  UAW wins again.

Interesting clip from recently discovered congressional testimony on June 5, 2012.  The anger from Rep. Mulvaney towards Henry Waxman is refreshing.  Three hundreds years of contract law did not apply to the Chrysler bailout of the United Auto Workers and private equity crony-extraordinaire Cerebrus Capital.

Comments

[john]

Cerberus group acquires Shaw's, Star Market in $3.3B deal

http://bostonherald.com/business/business_markets/2013/01/cerberus_group_acquires_shaws_star_market_33b_deal

[snip]

Supervalu Inc. said today it will sell five of its retail grocery chains to AB Acquisition, an affiliate of a Cerberus Capital Management L.P.-led investor consortium, in a transaction valued at $3.3 billion.

The sale will consist of the acquisition by AB Acquisition of the stock of New Albertsons Inc., a wholly-owned subsidiary of Supervalu, which owns the banners, for $100 million in cash plus the assumption of $3.2 billion in debt. The grocery chains being sold include Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market.

As part of the transaction, which includes 877 stores across the banners, AB Acquisition-owned Albertsons LLC will reunite its Albertson’s stores with the acquired NAI Albertsons.

[john]

Obama "really likes a good party". (a quote from the man himself earlier this week)...


Labor unions give to Obama’s inauguration

http://thehill.com/homenews/administration/278169-unions-give-to-obamas-inauguration

[snip]

At least nine unions are listed as donors to the inauguration, according to the latest update on the Presidential Inaugural Committee’s website. The committee has been releasing donors’ names to the inauguration every Friday for the past several weeks.

The unions that have donated to Obama’s second inauguration include the American Federation of Government Employees; the American Postal Workers Union; the International Association of Fire Fighters; the International Brotherhood of Electrical Workers; the Laborers International Union of North America; and the United Food & Commercial Workers...


....Many corporations, including Bank of America, the Coca-Cola Company and FedEx, also appeared on the Inaugural committee’s donor list for the first time on Friday. Almost 20 corporations have now given to the inauguration.

Brand-name companies like AT&T and Microsoft already had been listed as contributors to the inaugural festivities.

Obama did not accept contributions from corporations as well as unions for his first inauguration. Donations were also capped at $50,000. Obama raised more than $53 million for his first inauguration.

This time, there is no cap on contributions or ban against corporate or union donations for Obama’s second inauguration. Donors are also being offered several packages priced between $75,000 and $1 million to gain access to select events, including the inaugural ball and parade.

[SKINFLINT]

John, not one hundred per cent certain on this but I think that Weis is the only major grocer left that is not owned by a larger firm. A bunch of Maryland stores went through leveraged buy outs in the nineties. It is worrisome that the food supply is concentrated in such few hands. Also for those of you not familiar with these stores, they have what is called onte deliveries, which means that the stores have what they need on the shelves and very little in the way of back stock. The back rooms of these stores have virtually no supplies to speak of. What you see up front is what they have.

[john]

Profiting on Disaster: NJ Senate Votes To Exclude Non-Union Construction Workers For Hurricane Sandy Work

http://www.redstate.com/2013/01/14/profiting-on-disaster-new-jersey-senate-votes-to-exclude-non-union-construction-workers-for-hurricane-sandy-cleanup/

Note: we also saw non union contractors being sent away from restoring electricity.

[chiller]

I have a gnome in my front yard that not only looks exactly like Waxman....he is as ignorant and evasive of his surroundings as well....that was unfair to my gnome...

[TR]

I do not have any problem with Rep. Mulvaney jumping Waxman.
Mr. George Carlin, I try to be a "critical thinker". The other side of the coin has a picture of Rep. Mulvaney receiving a govt. check, govt. paid health care, govt. retirement? Sign me up! A friend of mine calls this Big Govt. Redistribution Socialism. LMAO