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    Government in the Way Again at GM and Chrysler

    There’s new evidence that General Motors and Chrysler, both owned partly by taxpayers, are still facing interference in the way they are run. The latest example comes not from the Obama Administration, but from Congress. At issue are the closures of over 2,000 dealerships announced by the two firms last … More

    TARP: Will This Crony Capitalist Slush Fund Ever Die?

    It’s been used to buy one car company, give another to union allies, punish non-union workers, undermine the bankruptcy code, enrich Wall Street at the expense of Main Street, keep unionized Zombie firms from dying, and generally terrorize the world economy. Now the left in Congress wants to use it … More

    GM Paints Silver Lining on Cloudy Earnings Report

    Not very often is losing $1.2 billion good news but that’s the way General Motors is spinning its third quarter earnings report. GM claims its finances are stable enough to begin repaying the $6.7 billion in government loans as soon as December and could be paid off ahead of schedule, potentially … More

    Morning Bell: Big Labor Is Bankrupting Our Country

    Last month when the White House released its visitor log for the first six months of the Obama presidency, one name appeared far more often than any other: Service Employee International Union (SEIU) President Andrew Stern. Stern has every right to expect to be welcome in the Obama White House. … More

    Automaker Bailout Sold on Empty Promises

    Have an idea but strapped for cash? Not sure if the idea is going to pan out? That’s all right, just ask the government for a few billion dollars. That’s what the automakers did. USA Today reports: If you believed all the talk from Chrysler about how our tax dollars … More

    Is the House Trying to Start a Trade War?

    Is the House of Representatives trying to start a trade war in the midst of the worst economy in a generation? Sure seems that way. When the House passed the Energy and Water appropriations bill they included a protectionist provision that is not only misguided, but it is poorly applied. … More

    A Union Divided Against Itself: The UAW’s Conflict of Interest

    In the wake of the General Motors and Chrysler’s bankruptcies, United Auto Workers finds itself in a complicated position. In some sense it has achieved a Marxist ideal: it has gained (at least some) control of its means of production. The UAW owns 55 percent of Chrysler and 17.5 percent … More

    Sen. Alexander (R-TN) Wants to Give Govt's GM, Chrysler Shares Back to Taxpayers

    On a blogger conference call this morning, Senator Lamar Alexander (R-TN) discussed a bill he introduced last week that would distribute the Federal government’s recently acquired GM and Chrysler stock to taxpaying Americans. “Instead of the Treasury owning 60 percent of shares in the new GM and 8 percent of … More

    The Majesty of the Law

    It takes an expensive lawyer…scratch that. It takes a very expensive lawyer, from Sullivan & Cromwell no less, to explain to the Supreme Court that when your client’s CEO said he would “never walk away” from a certain deal, what he really meant was that he would run away from … More

    Is An Automaker a "Financial Institution"? You Decide

    Yesterday afternoon, Supreme Court Justice Ruth Bader Ginsburg issued an order delaying the sale of Chrysler’s assets to a new firm controlled by Fiat, in order to more fully consider claims by a group of Indiana pension funds that the process violated federal law. A key argument made by the … More