Comments on: The Answer to Detroit's Problem is Multiple Choice http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/ FOXBusiness Fri, 20 Nov 2009 18:24:21 -0500 http://wordpress.org/?v=2.8.5.2 hourly 1 By: Ted Sherman http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2877 Ted Sherman Fri, 12 Dec 2008 03:25:24 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2877 DC Frey: You wrote a long letter of BLAH!!!!!!!!!! It was said of the Piano industry in turn-of-the-century, the textile industry, and the TV business. All went out of business all couldn't compete. All had other industries dependent on them. The same with the Army, Navy, Air Force bases that were shut down and everybody cheered that. People's livelyhoods were destroyed that depended on the bases. If GM, Ford, or Chrysler execs were sooooo smart why did they agree to fund people who didn't work in the stupid Job Bank? The executives at the "Big 3" are the worst. No company has $1,600 per item of healthcare costs. BMW cars are more expensive then most GM cars and they don't have that cost. You can write a book and you are still wrong. At the Gettysberg battlefield the speaker before Pres. Lincoln spoke for an hour, President Lincoln's speach was 268 words long and took 2 minutes. In the speach he said "The world will very little note nor long remember what we say here..." Pres. Lincoln was wrong we do remember what he said. I believe that long speaches and essays are always forgotten. Nice try, but most of us know better. DC Frey:

You wrote a long letter of BLAH!!!!!!!!!!

It was said of the Piano industry in turn-of-the-century, the textile industry, and the TV business. All went out of business all couldn’t compete. All had other industries dependent on them. The same with the Army, Navy, Air Force bases that were shut down and everybody cheered that. People’s livelyhoods were destroyed that depended on the bases.

If GM, Ford, or Chrysler execs were sooooo smart why did they agree to fund people who didn’t work in the stupid Job Bank? The executives at the “Big 3″ are the worst. No company has $1,600 per item of healthcare costs. BMW cars are more expensive then most GM cars and they don’t have that cost. You can write a book and you are still wrong.

At the Gettysberg battlefield the speaker before Pres. Lincoln spoke for an hour, President Lincoln’s speach was 268 words long and took 2 minutes. In the speach he said “The world will very little note nor long remember what we say here…” Pres. Lincoln was wrong we do remember what he said. I believe that long speaches and essays are always forgotten. Nice try, but most of us know better.

]]> By: Viability “Now?” Congress Needs to Get Real. at The Brian Sullivan Blog http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2785 Viability “Now?” Congress Needs to Get Real. at The Brian Sullivan Blog Wed, 10 Dec 2008 16:52:50 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2785 [...] sales turn that around in a short period of time?   The answer is it can’t.   As we wrote about over the weekend, the only solution is to cut costs and hope the economy, and car sales, turn around in 2009.    [...] [...] sales turn that around in a short period of time?   The answer is it can’t.   As we wrote about over the weekend, the only solution is to cut costs and hope the economy, and car sales, turn around in 2009.    [...]

]]> By: Nett http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2777 Nett Wed, 10 Dec 2008 04:07:24 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2777 For those of you who forgot, the US Government is NOT A BANK. It is not supposed to lend money. The auto company's are asking for a loan, so, let them go to a bank! Oh, I forgot, they did that and all the BANKS SAID NO! Why should the US Government lend money, when the BANKS say no. Why should we and our elected officials believe the auto company's have a plan to fix their own problems? The banks don't believe it! What part of the US Constitution authorizes the Government to lend money? What part of national security warrants the saving of an industry comprized of 3 company's? Is a car company the only company that can make a tank? AND....... If you do believe in BAILOUTS, why not have the Congress buy GM and Chrysler, outright, as was mentioned by another respondent? That would be a true bailout! Why are our elected officials quibbling about the tax payer being guaranteed an outcome, when (IF YOU BELIEVE IN BAILOUTS) the answer is so simple: buy the company and run it in such a way as the Congress see's fit. I know why the Congress wont buy GM and Chrysler, because then Congress would be forced to actually do something other than PONTIFICATE. The Congress would actually have to take responsibility for its own actions and actually be responsible to the taxpayer! Good grief, Barney and Chris can't let that happen! For those of you who forgot, the US Government is NOT A BANK.

It is not supposed to lend money.

The auto company’s are asking for a loan, so, let them go to a bank!

Oh, I forgot, they did that and all the BANKS SAID NO!

Why should the US Government lend money, when the BANKS say no.

Why should we and our elected officials believe the auto company’s have a plan to fix their own problems? The banks don’t believe it!

What part of the US Constitution authorizes the Government to lend money?

What part of national security warrants the saving of an industry comprized of 3 company’s?

Is a car company the only company that can make a tank?

AND…….

If you do believe in BAILOUTS, why not have the Congress buy GM and Chrysler, outright, as was mentioned by another respondent?

That would be a true bailout!

Why are our elected officials quibbling about the tax payer being guaranteed an outcome, when (IF YOU BELIEVE IN BAILOUTS) the answer is so simple: buy the company and run it in such a way as the Congress see’s fit.

I know why the Congress wont buy GM and Chrysler, because then Congress would be forced to actually do something other than PONTIFICATE.

The Congress would actually have to take responsibility for its own actions and actually be responsible to the taxpayer!

Good grief, Barney and Chris can’t let that happen!

]]> By: Martha http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2770 Martha Tue, 09 Dec 2008 20:57:31 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2770 The magnitude of the underfunded pension liabilities that would be dumped on the PBGC would by a factor of 10 exceed the $34 Billion these auto companies are asking as a LOAN. So, the PBGC would either go bankrupt itself or need a taxpayer based infusion of over $300 billion to do for the employees of these companies what the companies could do for the $34 Billion LOAN! The magnitude of the underfunded pension liabilities that would be dumped on the PBGC would by a factor of 10 exceed the $34 Billion these auto companies are asking as a LOAN. So, the PBGC would either go bankrupt itself or need a taxpayer based infusion of over $300 billion to do for the employees of these companies what the companies could do for the $34 Billion LOAN!

]]> By: Martha http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2769 Martha Tue, 09 Dec 2008 20:50:38 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2769 One item no one seems to touch on is the underfunded Defined Benefit Program (retirement fund) the PGBC would get dumped on them. Between GM, Chrysler and all of the parts suppliers the government would be better off to give the Big 3 money for Research and Development to make greener cars (all of the foreign car company countries do this!) so we can compete and keep jobs in the U.S.. On top of the retirement fund costs, the U.S. government would then have how many more people on unemployment, welfare and medicare/medicaid. Has anyone contemplated the loss of tax revenue that keeps our govenment running? We all need to get out of the 80's and look at the J.D. Powers list of best cars. Every time we buy any foreign product, we take money out of the U.S. economy and at some tipping point we will no longer be a superpower. Last, one of the top three exports are parts from all of those small companies that supply the big three. Most of those go out of business if the BIG 3 go under or even file for chater 11. One item no one seems to touch on is the underfunded Defined Benefit Program (retirement fund) the PGBC would get dumped on them. Between GM, Chrysler and all of the parts suppliers the government would be better off to give the Big 3 money for Research and Development to make greener cars (all of the foreign car company countries do this!) so we can compete and keep jobs in the U.S.. On top of the retirement fund costs, the U.S. government would then have how many more people on unemployment, welfare and medicare/medicaid. Has anyone contemplated the loss of tax revenue that keeps our govenment running? We all need to get out of the 80’s and look at the J.D. Powers list of best cars. Every time we buy any foreign product, we take money out of the U.S. economy and at some tipping point we will no longer be a superpower. Last, one of the top three exports are parts from all of those small companies that supply the big three. Most of those go out of business if the BIG 3 go under or even file for chater 11.

]]> By: Ra King http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2768 Ra King Tue, 09 Dec 2008 19:29:58 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2768 Its simple. stop all payroll taxes for 6 months starting friday. Have the treasury print the money to replace lost revenue, and send it to the IRS. Yes, some the items consumers will buy are auto's. Yes, just think of it, more grocerys, more that are able to pay on the mortgage, and yes that new shiny car. I know, it will not happen because its to easy. Its simple. stop all payroll taxes for 6 months starting friday. Have the treasury print the money to replace lost revenue, and send it to the IRS. Yes, some the items consumers will buy are auto’s. Yes, just think of it, more grocerys, more that are able to pay on the mortgage, and yes that new shiny car. I know, it will not happen because its to easy.

]]> By: charles locke http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2765 charles locke Tue, 09 Dec 2008 17:18:33 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2765 I think the real anger of the American citizen/taxpayer (whose willingness and generosity to help out the world since the beginning of WWII should not be forgotten)is that we know that Detroit has always been able to build a better product but has been unwilling to do so since the introduction of the once lucrative business concept of planned obsolescence.Their engineers went to the same schools that produced the people who gave us the space age and landed on the moon but who still after 50 years cannot produce power windows that dont fall off their tracks.These self proclaimed lords of finance along with their equally obnoxious counterparts in the UAW are very good at crying crocodile tears.Whenever the has been a challenge to their industry they have responded by producing bumper stickers about American jobs and rice burners or have produced commercials waving the flag with background music in CW style while some idiot drives a truck over rocks that even an Abrams tank would find difficult to cross while proclaiming in small print that this was just a simulation and not to do it in real life.And while this is going on another "financial genius" Thain wants a 10 million dollar bonus for selling Merrill Lynch to stave off bankruptcy to BoA with its 15 billion dollar bailout by the Treasury that instead of using to lend money cut off credit to Republic windows causing a sit in by fired union labor while the company reorganized and set up shop in a non-union state.As someone once said this is not the USA this is a state of insanity.We have bad plans for this crisis because we dont have first rate people in government only people who look good on tv and sound good in sound bytes.Working in government was once considered "public service"often performed by patriotic citizens who wanted to give back to the country for what they had received.Instead it has become another avenue of personal enrichment for those who serve.BTW all of this talk of saving the auto industry is predicated on the enormous assumption that there will be continued buyers for their product which from sales figures for the last 10 years is highly doubtful. I think the real anger of the American citizen/taxpayer (whose willingness and generosity to help out the world since the beginning of WWII should not be forgotten)is that we know that Detroit has always been able to build a better product but has been unwilling to do so since the introduction of the once lucrative business concept of planned obsolescence.Their engineers went to the same schools that produced the people who gave us the space age and landed on the moon but who still after 50 years cannot produce power windows that dont fall off their tracks.These self proclaimed lords of finance along with their equally obnoxious counterparts in the UAW are very good at crying crocodile tears.Whenever the has been a challenge to their industry they have responded by producing bumper stickers about American jobs and rice burners or have produced commercials waving the flag with background music in CW style while some idiot drives a truck over rocks that even an Abrams tank would find difficult to cross while proclaiming in small print that this was just a simulation and not to do it in real life.And while this is going on another “financial genius” Thain wants a 10 million dollar bonus for selling Merrill Lynch to stave off bankruptcy to BoA with its 15 billion dollar bailout by the Treasury that instead of using to lend money cut off credit to Republic windows causing a sit in by fired union labor while the company reorganized and set up shop in a non-union state.As someone once said this is not the USA this is a state of insanity.We have bad plans for this crisis because we dont have first rate people in government only people who look good on tv and sound good in sound bytes.Working in government was once considered “public service”often performed by patriotic citizens who wanted to give back to the country for what they had received.Instead it has become another avenue of personal enrichment for those who serve.BTW all of this talk of saving the auto industry is predicated on the enormous assumption that there will be continued buyers for their product which from sales figures for the last 10 years is highly doubtful.

]]> By: DC Frey http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2764 DC Frey Tue, 09 Dec 2008 16:00:45 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2764 You folks have no idea as to how to run an automotive company or support our industrial sector. You have a bunch of farmers, attorneys, real estate, doctor, vets... who have never run a business and are out of touch. Most are just politicians who couldn't even run a party store. You don't know that our automotive companies create wealth for our country... not the banks you bail out. You advocate BANKRUPTCY! YOU WANT OUR GOOD CITIZENS TO ACCEPT BREAKING OF AGREEMENTS THAT GO BACK TO THE TURN OF THE LAST CENTURY! You have no idea of how failure of our home grown automotive companies will affect every, I mean, every citizen in our great country. In Michigan, even the local restaurant, barber, farmer, cherry picker... you name it... is directly affected. I AM SURE IF YOU TAKE A CAREFUL LOOK... EVERYONE IN THE COUNTRY IS OR IS ABOUT TO BE AFFECTED! As I recall, the automotive companies are asking for a loan. They will pay back the government directly and indirectly. GM alone contributes Billions a year at the very least in the form of its employee and supplier income taxes. Not to mention the money these people spend throughout the country on goods and services which are taxed. One car that comes off the line in the US also generates sales taxes... over and over as they are sold and resold! You forget that on the Board of Directors of each of these automotive companies sits some of the most seasoned, brightest, and hands on business talent this country has to offer. Our congress should have some of them running our country rather than "vote getters." You folks in congress think that you can dictate EPA standards, gas mileage standards, car size and equipment standards, forget about having foreign automotive companies pay a fair duty, forget about how the foreign country automotive companies came to produce cars... many times with the workforce which once worked for the US manufactures. You forget about the fact that US auto dealers also sell foreign products! Yes, the foreign car makers don't need more than 1500 dealerships of their own when they can tap into existing US automotive dealerships for distribution of both new and used automobiles. Kick the foreign cars out of our domestic dealerships and see how many they will need. You forget that foreign countries have subsidized their automotive manufactures... USA has not. Whatever financial help the government here in the US have to the automotive companies has always been paid back. You forget that without the US automotive companies... you will no longer have competition to keep price in line... to keep engineering and new developments growing... to keep labor rates to the best standard in the world. To keep meaningful jobs here in this country... and employ our citizens globally! You forget that our automotive companies are actually owned by its shareholders... mostly Americans. You forget that Bankruptcy is a last resort. That you are advocating every company use it as a tool to get out of its employee commitments... supplier commitments... dealer commitments... on and on. These companies are trying to compete in an environment created by Nader, and all those attorneys who think that if something added to a vehicle at no matter the cost... saves one, even one, life or visit to the hospital for what may be related to a poor road or road conditions. You think that you can say all cars should get 20 miles to the gallon... why not say they have to get 100 miles to each gallon of gas. I suggest that you figure out a way to help make our automotive companies stronger! Sit back and think about the fact that our automotive companies have contributed to the wealth of our country... remember the industrial revolution... if it weren't for these companies where would we be? OUR AUTOMOTIVE COMPANIES ARE ASKING FOR A VERY SMALL INVESTMENT COMPARED TO THE DEVASTATION THAT WILL BE A RESULT OF THEM EXITING OUR WORLD AND COUNTRY WE HAVE COME TO ENJOY. IF OUR AUTOMOTIVE COMPANIES WERE TO GO OUT OF BUSINESS... WE WILL BE MOVING INTO A GREATER DEPRESSION. OUR LABOR FORCES WILL NO LONGER TRUST CORPORATION BENEFITS... AND OUR COUNTRY. YOU WILL BREAK THE NATIONAL GUARANTEE CORPORATION. YOU WILL BREAK THE BELIEF IN OUR SYSTEM AND SELL OUT OUR COUNTRY AND EVERYTHING IT STANDS FOR GLOBALLY! Think about it: The easy road is to deny these companies the relief needed during this slowdown in our economy. It takes a strong leader to realize what is right. It doesn't take a brain surgeon, farmer, real estate sales person, veterinarian, or anyone else who only knows how to get a vote to sit back and use some common sense. You know that the average voter in the US is not really aware... take all those votes that are cast just because of name recognizability... nothing more. God help us if one of these automotive executives gets kidnapped driving a car to Washington. Or, finds a drunk driver on the road who makes the wrong turn. Or is spending more hours worrying about their method of travel and actual travel time rather than hours doing what they do best. This argument posed by certain people in congress is so patronizing to get votes than common sense. Very childish and unproductive nonsense to get a sound bite for votes! You guys are sitting in a glass house that is about to break. Do you know what you just did to our private aircraft industry? Oh, I suggest you speak to many in government who fly around in private jets... last I heard, 41 of the 50 states are broke... yet we fly everyone around in private aircraft! Why do you allow candidates for political office run campaigns that last for years... travel to town after town... state after state... with the exact same message over and over... just as though we don't have today's mass communications! Oh, did they drive their own cars or fly on commercial airlines. What a waste of money you officials seem to ignore! You folks have no idea as to how to run an automotive company or support our industrial sector. You have a bunch of farmers, attorneys, real estate, doctor, vets… who have never run a business and are out of touch. Most are just politicians who couldn’t even run a party store.

You don’t know that our automotive companies create wealth for our country… not the banks you bail out.

You advocate BANKRUPTCY! YOU WANT OUR GOOD CITIZENS TO ACCEPT BREAKING OF AGREEMENTS THAT GO BACK TO THE TURN OF THE LAST CENTURY!

You have no idea of how failure of our home grown automotive companies will affect every, I mean, every citizen in our great country. In Michigan, even the local restaurant, barber, farmer, cherry picker… you name it… is directly affected. I AM SURE IF YOU TAKE A CAREFUL LOOK… EVERYONE IN THE COUNTRY IS OR IS ABOUT TO BE AFFECTED!

As I recall, the automotive companies are asking for a loan. They will pay back the government directly and indirectly. GM alone contributes Billions a year at the very least in the form of its employee and supplier income taxes. Not to mention the money these people spend throughout the country on goods and services which are taxed. One car that comes off the line in the US also generates sales taxes… over and over as they are sold and resold!

You forget that on the Board of Directors of each of these automotive companies sits some of the most seasoned, brightest, and hands on business talent this country has to offer. Our congress should have some of them running our country rather than “vote getters.”

You folks in congress think that you can dictate EPA standards, gas mileage standards, car size and equipment standards, forget about having foreign automotive companies pay a fair duty, forget about how the foreign country automotive companies came to produce cars… many times with the workforce which once worked for the US manufactures.

You forget about the fact that US auto dealers also sell foreign products! Yes, the foreign car makers don’t need more than 1500 dealerships of their own when they can tap into existing US automotive dealerships for distribution of both new and used automobiles. Kick the foreign cars out of our domestic dealerships and see how many they will need.

You forget that foreign countries have subsidized their automotive manufactures… USA has not. Whatever financial help the government here in the US have to the automotive companies has always been paid back.

You forget that without the US automotive companies… you will no longer have competition to keep price in line… to keep engineering and new developments growing… to keep labor rates to the best standard in the world. To keep meaningful jobs here in this country… and employ our citizens globally!

You forget that our automotive companies are actually owned by its shareholders… mostly Americans.

You forget that Bankruptcy is a last resort. That you are advocating every company use it as a tool to get out of its employee commitments… supplier commitments… dealer commitments… on and on.

These companies are trying to compete in an environment created by Nader, and all those attorneys who think that if something added to a vehicle at no matter the cost… saves one, even one, life or visit to the hospital for what may be related to a poor road or road conditions.

You think that you can say all cars should get 20 miles to the gallon… why not say they have to get 100 miles to each gallon of gas.

I suggest that you figure out a way to help make our automotive companies stronger! Sit back and think about the fact that our automotive companies have contributed to the wealth of our country… remember the industrial revolution… if it weren’t for these companies where would we be?

OUR AUTOMOTIVE COMPANIES ARE ASKING FOR A VERY SMALL INVESTMENT COMPARED TO THE DEVASTATION THAT WILL BE A RESULT OF THEM EXITING OUR WORLD AND COUNTRY WE HAVE COME TO ENJOY.

IF OUR AUTOMOTIVE COMPANIES WERE TO GO OUT OF BUSINESS… WE WILL BE MOVING INTO A GREATER DEPRESSION. OUR LABOR FORCES WILL NO LONGER TRUST CORPORATION BENEFITS… AND OUR COUNTRY. YOU WILL BREAK THE NATIONAL GUARANTEE CORPORATION. YOU WILL BREAK THE BELIEF IN OUR SYSTEM AND SELL OUT OUR COUNTRY AND EVERYTHING IT STANDS FOR GLOBALLY!

Think about it: The easy road is to deny these companies the relief needed during this slowdown in our economy. It takes a strong leader to realize what is right. It doesn’t take a brain surgeon, farmer, real estate sales person, veterinarian, or anyone else who only knows how to get a vote to sit back and use some common sense. You know that the average voter in the US is not really aware… take all those votes that are cast just because of name recognizability… nothing more.

God help us if one of these automotive executives gets kidnapped driving a car to Washington. Or, finds a drunk driver on the road who makes the wrong turn. Or is spending more hours worrying about their method of travel and actual travel time rather than hours doing what they do best. This argument posed by certain people in congress is so patronizing to get votes than common sense. Very childish and unproductive nonsense to get a sound bite for votes!

You guys are sitting in a glass house that is about to break.

Do you know what you just did to our private aircraft industry?

Oh, I suggest you speak to many in government who fly around in private jets… last I heard, 41 of the 50 states are broke… yet we fly everyone around in private aircraft!

Why do you allow candidates for political office run campaigns that last for years… travel to town after town… state after state… with the exact same message over and over… just as though we don’t have today’s mass communications! Oh, did they drive their own cars or fly on commercial airlines. What a waste of money you officials seem to ignore!

]]> By: Ted Sherman http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2763 Ted Sherman Tue, 09 Dec 2008 15:17:07 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2763 God Bless Karen Duke. Finally some sanity in an insane time. I may be in the throws of Alzheimer’s, but I do not remember protests in the streets of Detroit demanding electric cars or grass based ethenol. I live in upstate NY and Fox News Alert it snows up here every 6 months for 3 months minimum. I had a family member hit in a head-on collision and the only thing that saved that family member (besides the great work of the Fire Department and Police Department) was the SUV!!!!!! I will not give up my SUV for all the reasons I just articulated. If we are going to get out of this credit crisis then Drill here! Drill Now! Cut the capital gains and employment taxes (Fair Tax), and demand that the mark-to-market accounting rule be thrown out for assets that are making money, and are on the books (or should be) as held-to-maturity or available for sale. I can understand the mark-to-market rule for trading securities since they are to be sold within a year. Who is going to hold a 30 mortgage bond for 3 months? It is earning income isn't it? Please get people who are smarter then me to fix this NOW!!!!!!!!! As Glenn Beck says "I am just an alcoholic" and I can figure this out; why can't Sec. Paulson? God Bless Karen Duke.

Finally some sanity in an insane time. I may be in the throws of Alzheimer’s, but I do not remember protests in the streets of Detroit demanding electric cars or grass based ethenol. I live in upstate NY and Fox News Alert it snows up here every 6 months for 3 months minimum. I had a family member hit in a head-on collision and the only thing that saved that family member (besides the great work of the Fire Department and Police Department) was the SUV!!!!!! I will not give up my SUV for all the reasons I just articulated. If we are going to get out of this credit crisis then Drill here! Drill Now! Cut the capital gains and employment taxes (Fair Tax), and demand that the mark-to-market accounting rule be thrown out for assets that are making money, and are on the books (or should be) as held-to-maturity or available for sale. I can understand the mark-to-market rule for trading securities since they are to be sold within a year. Who is going to hold a 30 mortgage bond for 3 months? It is earning income isn’t it?

Please get people who are smarter then me to fix this NOW!!!!!!!!! As Glenn Beck says “I am just an alcoholic” and I can figure this out; why can’t Sec. Paulson?

]]> By: Gerald Horn http://briansullivan.blogs.foxbusiness.com/2008/12/06/the-answer-to-detroits-problem-is-multiple-choice/comment-page-2/#comment-2759 Gerald Horn Tue, 09 Dec 2008 12:16:44 +0000 http://briansullivan.blogs.foxbusiness.com/?p=337#comment-2759 Auto industry gets diluted talent; with most going to NASA. Get NASA back in the loop to joint venture with the auto industry and produce the next generation of cars with superior technology. Then we get back to what made us leaders in this industry in the first place - our best engineered industry leading technology. Auto industry gets diluted talent; with most going to NASA. Get NASA back in the loop to joint venture with the auto industry and produce the next generation of cars with superior technology. Then we get back to what made us leaders in this industry in the first place – our best engineered industry leading technology.

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