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« CHART: The Real Inflation Rate Is 11% According To CPI Calculations From 1980s | Main | Banker's Got A Gun »
Saturday
Jan192013

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.

 

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Reader Comments (10)

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.
Jan 19, 2013 at 5:27 AM | Unregistered Commenterjohn
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.
Jan 19, 2013 at 5:47 AM | Unregistered Commenterjohn
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.
Jan 19, 2013 at 7:53 AM | Unregistered CommenterSKINFLINT
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.
Jan 19, 2013 at 9:58 AM | Unregistered Commenterjohn
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...
Jan 20, 2013 at 7:55 AM | Unregistered Commenterchiller
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
Jan 20, 2013 at 4:32 PM | Unregistered CommenterTR
Automobile manufacturing is the most important part of the working process of Automotive industry. Automobile workers do the work for the company and its growth. The manufacturing and designing with several necessary works are performed by the Automotive workers. They all really play a huge role in an Automotive plant.
Sep 28, 2013 at 9:31 AM | Unregistered CommenterWillson Smith
Car and carbon dioxide both are related to each other because due to the increasing pollution of air and this issues also creates a different situation for our next generation. But in this issues also we have to think how to prevent this problem for our generation. From my own experience the car is really very luxurious in look also very comfortable to drive .Also it prevents us from the air pollution and the unusable problem like fuel finished so car will stop. So we should purchase car running through electricity.
Oct 3, 2013 at 8:37 AM | Unregistered CommenterBlogery
CEO Marchionne says IPO not best way to invest in Chrysler

http://www.reuters.com/article/2013/10/09/us-autos-chrysler-ipo-idUSBRE9981D520131009


(Reuters) - Chief Executive Sergio Marchionne discouraged investors at a conference last week from participating in Chrysler Group LLC's initial public offering - a process that was forced by the automaker's second-largest shareholder last month.


---------------

Buy a FORD!
Oct 11, 2013 at 7:27 AM | Unregistered Commenterjohn
Automobile industry is playing a huge role in country's economic development. People working in any Automotive farm are leading from the front and playing a huge role in the Automobile manufacturing process. These Automobile workers are the people working hard for the development of the Automobile farms. For a good and quality Vehicle model, the manufacturing and designing are the main part of the work and these are controlled by the Automotive workers.
Oct 26, 2013 at 8:40 AM | Unregistered CommenterDavis

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