GM fiasco

[Black Bart]

And furthermore,

Corporate Jet Fiasco -- Did you see it (GM congressional hearings)? Pretty funny, even if it did bring to mind Robespierre's French mob tormenting deposed monarchs. The GM, Chrysler, and Ford CEOs each flew private luxury jets to Washington -- estimated cost $20K each -- rather than commercial flights ($288-coach/$837-1st class) and it didn't go over well.
The most notable quote was NY Rep. Ackerman's: "There's a delicious irony in seeing private luxury jets flying into Washington, D.C. and people coming off them with tin cups in their hands. It's almost like seeing a guy show up at the soup kitchen in high-hat and tuxedo. "

after reading the latest GM article (here's the link):

http://news.yahoo.com/s/ap/20081204/ap_on_bi_ge/autos_ceo_travel

it seems like he (GM CEO Wagoner) still doesn't "get" it.

While he and his party (he had a driver and security guards -- which is understandable I guess) did drive the 500 miles from Detroit to Washington in three hybrid/high-mileage cars, stopping for lunch along the way like ordinary American tourists; the irony (again) to me is that upon arrival they checked into the upscale J. W. Marriot Hotel where, according to this article, the cheapest room is $399 a night or $800 for a suite. While they don't say which one he stayed in, I'm got an idea. Hell; under the circumstances I'da stayed at Motel 6 -- or Holiday Inn if I was going to "splurge."

Other notes: I saw that the UAW guy offered to "suspend" the Jobs Bank program (the one paying people who don't work 90% of regular wages), which sounds like it might be revived later. Last week he said the union was worried about retirees who weren't old enough for Medicare and a conservative columnist made a good comment on that: "If they want to retire at age 55, it's okay with me but I don't see why the taxpayers should have to carry them until they turn 65."

It should be an interesting day at the hearings.

[JohnH]

Back in the early 70's all the professors in the Economics deparment where I attended school at a public university were still drinking the Keynesian Kool Aid as the solution to all economic problems. In spite of having a major in Economics, it still took me decades to begin to learn something practical about the subject. It sure would have been nice to have a Walter Williams or Thomas Sowell around at the time to challenge some of the conventional theory and actually make us think.

[JohnH]

My apologies to those who aren't interested in our continuing to dredge this topic up again & again, but the following article does a pretty good job of discussing the incestuous relationship between the auto companies and our Congresspersons. How can we expect the politicians to put the pigs on a financial diet when half of Washington is feeding at the same trough?

http://www.cbsnews.com/stories/2008/12/03/cbsnews_investigates/main4646424.shtml

[veritas]

Pascal's Wager

Nice quote JohnH

"The supreme function of reason is to show that some things are beyond reason. - Blaise Pascal"


"You must wager; it is not optional... Let us weigh the gain and the loss in wagering that God exists... If you gain, you gain all; if you lose, you lose nothing. Wager, then, without hesitation, that He exists."

[DTS]

John

...but the following article does a pretty good job of discussing the incestuous relationship between the auto companies and our Congresspersons. How can we expect the politicians to put the pigs on a financial diet when half of Washington is feeding at the same trough?

http://www.cbsnews.com/stories/2008/...n4646424.shtml

"Pigs" is an understatement! I had to turn my TV to the cooking channel today, as my tears were flowing from the sad stories and all the hope and optimism in those stories! Makes me tear up now, just thinking about it

Why do they have a plan NOW?

PS: Thanks to you and Veritas for the nod to Walter Williams. I knew nothing of him, but will begin reading. Thanks, again.

D

[JohnH]

Dennis:
Glad to help out.
While you're reading Walter Williams' articles, you can double your pleasure by checking out Thomas Sowell as well.

Veritas:
I like Pascal's wager.
Another related quote:
"Men despise religion. They hate it and are afraid it may be true".

[Burke]

While he and his party (he had a driver and security guards -- which is understandable I guess) did drive the 500 miles from Detroit to Washington in three hybrid/high-mileage cars, stopping for lunch along the way like ordinary American tourists; the irony (again) to me is that upon arrival they checked into the upscale J. W. Marriot Hotel where, according to this article, the cheapest room is $399 a night or $800 for a suite. While they don't say which one he stayed in, I'm got an idea. Hell; under the circumstances I'da stayed at Motel 6 -- or Holiday Inn if I was going to "splurge."

Last time we tried to book a room in downtown DC about 2 weeks out, $399 was the cheapest thing we could find. And the place, although the rooms were fancied up, appeared to be an old refurbished Holiday Inn, complete with metal balconies, and the lobby was about 200 SF, with seating for 2 people. And don't forget the parking, about $35+ per day for the car.

[Black Bart]

Okay,

Last time we tried to book a room in downtown DC about 2 weeks out, $399 was the cheapest thing we could find. And the place, although the rooms were fancied up, appeared to be an old refurbished Holiday Inn, complete with metal balconies, and the lobby was about 200 SF, with seating for 2 people. And don't forget the parking, about $35+ per day for the car.

thanks; I didn't know that. However, if I had phoned for reservations and discovered DC rates were $400, I'd have booked a reasonable motel 20 miles outside town, gotten up two hours early, and driven into town for the meeting. I know, of course, that scrimping around for nickels and dimes among billions wouldn't mean a thing in the overall scheme of things and, under the circumstances, would have been ridiculed, but it's their arrogance that rubs the wrong way. And I don't think it's dead; rather just being played down for the benefit of people they likely regard as "punk congressmen." That first day, Wagoner looked as if he'd like to slap Ackerman's face and say "People don't talk to me that way!"

[JohnH]

Still Not Tax, but I had to post a link to this excellent final 2008 column by Walter Williams.

http://townhall.com/columnists/WalterEWilliams/2008/12/31/teaching_economics

As stated before, it would have been immensely beneficial to have been sitting in an Economics classroom taught by this man (or someone like him at the time), when I was younger.