Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (578744)	7/31/2010 10:10:22 AM
From: Brumar89	Respond to of 1571636

Obama: Mission Accomplished Henry Payne / TheMichiganView.com Standing in front of a Jeep Grand Cherokee in Chrysler's Jefferson North Detroit assembly plant Friday afternoon, President Obama Friday declared that Chrysler "was building the fuel-efficient cars of tomorrow." Come again? The visual non-sequitor was one of many jarring notes in his "Mission Accomplished" visit to Detroit automakers. At one point the president even compared Chrysler's bailout to winning the lottery -- hardly a model for planning long-term corporate security. Eager to claim credit for charting a new course for Detroit with "targeted investments making new technologies," the president strangely chose as his backdrop the iconic Jeep SUV brand that first launched the small truck craze in the 1980s. This the same vehicle that Obama and his green allies condemn as having laid waste to the planet. With Chrysler only just struggling to its feet after the bottom fell out of the market in 2008, the company has gone back to its roots to launch the gas-guzzling, 4-wheel drive SUV. Chrysler's truck-heavy lineup has suffered in a recession where customers returned to smaller sedans, but the new Grand Cherokee has been met with rave reviews, and the Jefferson North plant has added 1,100 jobs to keep up with renewed SUV demand. This seemed lost (or perhaps willfully lost) on a president who is determined to transform what Americans drive. "If you're wiling to remake yourself for changing times, we'll stand by you," Obama said in explaining the rescue of Chrysler. But a new Grand Cherokee is as status quo as they come. Because that's what Americans drive. The Divider-in-Chief also quickly turned to partisan rhetoric. Taking credit for saving the industry, he set up a straw man to demonize his Republican critics. He claimed the "leaders of the 'just-say-no' crowd" wanted to "do nothing" which would have led to "these jobs being wiped out." They "don't like to admit when I'm right," he said, personalizing the issue. In fact, "doing nothing" was never on the table. No politician in leadership in Washington wanted to see GM and Chrysler collapse. Instead, the fight was over how much government -- and UAW -- involvement there should be in helping the auto companies through bankruptcy. Obama was also insincere about the political stakes for his own party. As Big Labor's biggest benefactor, the Democratic Party had to step in for the Detroit Two. Yet Obama claimed that "the politics weren't good. I have enough to do," as if he could walk away from Democratic Sugar Daddy and then-UAW chief Ron Gettelfinger's demands. "We'll take hands off approach," said Obama recalling the administration's bailout. Hand's off? The administration dictated bankruptcy terms, then courted Fiat to buy the company, then gave Fiat an initial free, 20 percent stake in return for the Italian automaker promising to bring the compact Fiat 500 to the U.S. market. Through this fog of contradictions and half-truths, Obama finally emerged at the end of his speech to compare Chrysler to 14 Jefferson North employees who just won the Michigan lottery. "The guy who bought the winning ticket bought a new Grand Cherokee. And he is still working at the plant," the president said. If Chrysler is to survive, it will need to sell lot more Grand Cherokees -- and a few more lottery payouts from Uncle Sugar. detnews.com