Burlington Derailed — The Continuing Story

03 June

Obama's GM Mechanic


Obama's GM mechanic, Brain Brian Deese is set to dismantle GM and capitalism. Here's his resume:

31 years old
Never graduated from law school
Never graduated from business school
Not a formally trained economist
Never ran a company
1st government job
Never been in an auto plant

"In charge of dismantling GM Deese has become one of the most influential voices in what may become President Obama’s biggest experiment yet in federal economic intervention."

Thrown up in your Cheerios yet?

If not, wait. You will.

Spike

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The GM Bankruptcy By The Numbers


When General Motors filed for bankruptcy protection Monday morning the plans include a split-up over time into “new” and “old” companies with billions of new dollars in support from the U.S. government as well as the governments of Canada and Ontario.

GM CEO Fritz Henderson said at a press conference that the company would be leaner and more customer-focused when it comes out.

“We intend to offer you nothing less than best-in-class cars and trucks,” Henderson said. “We look forward to the chance to win your business, and win back your trust.”

The largest automotive industry bankruptcy ever

The 8th public company bankruptcy of 2009 with pre-petition assets of $10 billion or more

The 30th public company bankruptcy of 2009 with pre-petition assets of $1 billion or more

The 45th historic public company bankruptcy with pre-petition assets of $10 billion or more

The 99th public company bankruptcy of 2009

$344 billion is the total figure for 2009’s combined pre-petition public company bankruptcy assets

62,000 union-represented U.S. employees

68 percent of its total 243,000 employees are represented by unions

61,000 is the number of employees represented by the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW)

377,000 U.S. hourly retirees

116,000 U.S. salaried retirees

3 million cars and trucks sold by GM in the U.S. in 2008 — 22.1 percent of total car and truck industry sales

8 million cars and trucks sold by GM worldwide in 2008 — 12.4 percent of total car and truck industry sales

$31 billion is GM’s reported net loss for 2008

Source: BankruptcyData.com

GM Government Funding per Job:

Government bailout funds

Pre-bankruptcy TARP bailouts: $19.4 billion

Reported bankruptcy assistance: $30.1 billion

TOTAL: $49.5 billion


GM jobs

On December 31, 2008, GM employed 243,000 employees (with 116,000 of these employees working for GM North America)

[source: GM 2008 Form 10-K, ]


Government bailout funds per job

$203,703.70 per GM employee

$426,724.14 per GM North American employee

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Ad Vertiser Wins Spelling Bee




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Single Party System Succession


Spike,

Kim Jong Il has anointed his 26-year-old son _ said to be competitive, proficient in English and a heavy drinker _ as the next leader of the communist state, news reports said Tuesday.

How do you pick a new leader in a single party dictatorship?

It looks like North Korea will keep on creeping along with the Kims. What if the world gets tired of the Kims' setting off skyrockets and forces them to flee?

Jong II has one sterling qualification to be Mayor of Burlington, but being competitive and proficient in English disqualifies. Like North Korea, West Burlington has one great ruler for life.

Should Kommandant Tousil hang up his gavel, would Kim Jong II be a possible replacement.

Napoleon XXIII

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