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 Chrysler, you would own them, if you were one of about 120 million individuals who paid taxes on April 15,” Alexander explained. “This is the fastest way to get the stock out of the hands of Washington and back into …
On Tuesday, the Wall Street Journal’s Bret Stephens noticed that President Obama’s policy initiatives resemble a 1998 South Park episode in which grand plans are formulated with a beginning and a successful ending, yet without the requisite how-to in the middle. When it comes to the handling of GM, we couldn’t agree more. It’s clear the administration had no idea what it was getting itself into when they relented to the UAW’s powerful lobby and lent taxpayer money to the struggling carmaker. Nevermind that the UAW is one of the main …
Last night, the CEO of General Motors, Rick Wagoner, was fired by the President of the United States. Perhaps not “fired” in the strict legal sense – if legalities matter anymore – but certainly fired for all effective purposes. In a statement by Wagoner released last night, the now-former CEO states specifically that Administration officials “requested that I “step aside”’ as CEO of GM.” “And so I have,” he said. No pretense of an agonized decision, no pretending that the board asked him to go, simply that the White House …
