GM Has Chance to 'Rise Again' Under Restructuring, Obama Says
GM's reorganization plan will rely on up to $30 billion of additional financial assistance from the Treasury Department.
FOXNews.com
President Obama said Monday that the federal government wants to fix General Motors quickly and then get out of the auto business, as the Detroit legend filed for Chapter 11 bankruptcy protection and the government prepared to pump another $30 billion into the company. "Our goal is to help GM get back on its feet ... and get out quickly," Obama said.
The president defended the White House-engineered restructuring plan and the additional government investment just hours after the troubled automaker filed for bankruptcy in New York. Though critics of the plan worried that the administration had no exit plan for its intervention, Obama said the government would act as "reluctant shareholders" and that he has "no interest" in running GM. He said the proceedings, though painful for all stakeholders, would "mark the end of an old GM and the beginning of a new GM." "What we have then is a credible plan that is full of promise," Obama said. He called the restructuring a "viable, achievable plan that will give this iconic American company a chance to rise again."
GM's bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 billion in debt and $82.29 billion in assets. Under the plan, GM would eventually have 50 percent fewer liabilities and far fewer product lines. The $30 billion government infusion is on top of about $20 billion in taxpayer money GM already has received in the form of low-interest loans. Obama assured consumers looking to purchase GM vehicles that their warranties would be safe and government-backed. He defended the government intervention as essential, linking the health of the auto giant to the health of the U.S. economy.
And he defended the government's decision to take such a large ownership stake in the company -- estimated at 60 percent.
Monday, June 1, 2009
Thursday, May 28, 2009
Texan Woman Told to Remove 'Offensive' American Flag From Office
FOXNEWS.comThursday, May 28, 2009
Debbie McLucas has been invited by her supervisor to display the flag in her office. Debbie McLucas comes from a patriotic family – her husband and both of her sons served in the U.S. military, and her daughter is currently deployed to Iraq on her second tour of duty as a combat medic. So when McLucas arrived at work at a Texas hospital last Friday, she was stunned to be told that the Stars and Stripes she had hung in her office in advance of Memorial Day were offensive, and that the flag had been removed. “I got into work, I was met by my supervisor and told that there had been multiple complaints, that people found the flag very offensive and it had been taken down," McLucas told FOXNews.com. "I went to the office to retrieve it and found the flag wrapped around the pole, sitting in the corner on the ground. I was speechless."
McLucas, a supervisor at Kindred Hospital in Mansfield, Texas, had displayed the 3-by-5-foot flag in the office she shares with the hospital’s three other supervisors. McLucas said one of her colleagues, a woman who immigrated to the United States from Africa 14 years ago, complained about the flag to upper management, and the hospital decided to take down the flag. "I was told that as long as my flag offended one person, it would be taken down," McLucas said. She said the hospital told her that the American flag flying outside the building would have to suffice. "I was told, ‘There is a flag hanging out front, everyone can see that one. Is that not enough?’" No, she said, that wasn't enough. "It is more than I can even fathom, that you would find the American flag offensive, in America," McLucas said.
A Kindred Healthcare spokeswoman did not return calls for comment. Kindred issued a press release stating, “Kindred Hospital Mansfield has a great deal of appreciation for the service that many of our employees and their families have given to their country. We honor our veterans and active military through a variety of benefits and service programs. This was an isolated incident between two employees that we are working to resolve amicably.” The statement went on to explain: “The disagreement was over the size of the flag and not what it symbolized. We have invited the employee to put the flag back up.” And it will go back up and stay up, McLucas said. "I do think they're trying to do the right thing. I have no reason to believe the flag won't remain there as long as I'm employed."
Wednesday, May 27, 2009
Chairman Steele's Statement on Obama Administration Stimulus Progress Report
WASHINGTON – Republican National Committee (RNC) Chairman Michael Steele today released the following statement on the Obama administration’s stimulus progress report.
“In the Obama administration the word ‘report’ must be code for ‘PR.’ One hundred days after spending $787 billion of the taxpayers’ money, President Obama is touting a second progress ‘report’ on the stimulus bill to convince voters his reckless spending plan is working. Let’s be clear: 100 projects, nearly $1 trillion spent, and 1 million jobs lost doesn’t sound like progress to me. The Obama administration may believe its own spin, but American families want jobs and to keep more of what they earn, not another ‘report,’” said Chairman Michael Steele.
“In the Obama administration the word ‘report’ must be code for ‘PR.’ One hundred days after spending $787 billion of the taxpayers’ money, President Obama is touting a second progress ‘report’ on the stimulus bill to convince voters his reckless spending plan is working. Let’s be clear: 100 projects, nearly $1 trillion spent, and 1 million jobs lost doesn’t sound like progress to me. The Obama administration may believe its own spin, but American families want jobs and to keep more of what they earn, not another ‘report,’” said Chairman Michael Steele.
Tuesday, May 26, 2009
Burris Pleads for Senate Appointment on Taped Call
Sen. Roland Burris promised to "personally do something" for Rod Blagojevich's campaign fund while pressing for the then-Illinois governor to appoint him to President Obama's former Senate seat, according to a wiretap transcript released Tuesday.
This doesn't sound shady at all [enter sarcasm here]! Sheesh!
Click on the following link for the full story:
http://www.foxnews.com/politics/2009/05/26/burris-pleads-senate-appointment-taped/?test=latestnews
This doesn't sound shady at all [enter sarcasm here]! Sheesh!
Click on the following link for the full story:
http://www.foxnews.com/politics/2009/05/26/burris-pleads-senate-appointment-taped/?test=latestnews
Coalition Department e-mail Alert:
Republican National Committee (RNC) Chairman Michael Steele today released the following statement on the nomination of Sonia Sotomayor.
“Republicans look forward to learning more about federal appeals court judge Sonia Sotomayor’s thoughts on the importance of the Supreme Court’s fidelity to the Constitution and the rule of law. Supreme Court vacancies are rare, which makes Sonia Sotomayor’s nomination a perfect opportunity for America to have a thoughtful discussion about the role of the Supreme Court in our daily lives. Republicans will reserve judgment on Sonia Sotomayor until there has been a thorough and thoughtful examination of her legal views.”
Republican National Committee (RNC) Chairman Michael Steele today released the following statement on the nomination of Sonia Sotomayor.
“Republicans look forward to learning more about federal appeals court judge Sonia Sotomayor’s thoughts on the importance of the Supreme Court’s fidelity to the Constitution and the rule of law. Supreme Court vacancies are rare, which makes Sonia Sotomayor’s nomination a perfect opportunity for America to have a thoughtful discussion about the role of the Supreme Court in our daily lives. Republicans will reserve judgment on Sonia Sotomayor until there has been a thorough and thoughtful examination of her legal views.”
Monday, May 25, 2009
What Will Obama Do?
Condemned by the U.N. for its nuclear test, North Korea appears set to launch more short-range missiles!
Iran Moves Warships Near Gulf of Aden!
Tehran sends six warships into international waters, a move security experts call 'muscle flexing' defiance.
Well, Mr. President?
Iran Moves Warships Near Gulf of Aden!
Tehran sends six warships into international waters, a move security experts call 'muscle flexing' defiance.
Well, Mr. President?
Friday, May 22, 2009
RNC Chairman Michael Steele announces appointments to Temporary Delegate Selection Committee
WASHINGTON – Republican National Committee (RNC) Chairman Michael Steele today announced the appointment of Ohio National Committeeman Bob Bennett, Wisconsin National Committeeman Steve King, Florida National Committeeman Paul Senft, former Maryland Secretary of State Mary Kane, former Michigan Republican Party Chairman Saul Anuzis, former Office of Personnel Management Director Kay James, former Iowa Republican Party Chairman Brian Kennedy, former White House Spanish media spokesperson Mercy Schlapp, and former New Hampshire Attorney General Tom Rath to the RNC Temporary Delegate Selection Committee.
“I am proud to announce the appointments of this impressive group of people to the RNC Temporary Delegate Selection Committee. They are all exceptionally qualified people and I look forward to working with them in the future,” said Chairman Steele.
The RNC Temporary Delegate Selection Committee serves to review the timing of the election, selection, allocation, or binding of delegate and alternate delegates to the Republican National Convention. In accordance with The Rules of the Republican Party, the RNC Chairman appoints three RNC members and six non-members to the RNC Temporary Delegate Selection Committee, which is already comprised of four elected RNC members.
“I am proud to announce the appointments of this impressive group of people to the RNC Temporary Delegate Selection Committee. They are all exceptionally qualified people and I look forward to working with them in the future,” said Chairman Steele.
The RNC Temporary Delegate Selection Committee serves to review the timing of the election, selection, allocation, or binding of delegate and alternate delegates to the Republican National Convention. In accordance with The Rules of the Republican Party, the RNC Chairman appoints three RNC members and six non-members to the RNC Temporary Delegate Selection Committee, which is already comprised of four elected RNC members.
Thursday, May 21, 2009
Compare and Contrast: Obama and Cheney's Divergent Views on National Security
President Obama and former Vice President Dick Cheney each delivered major speeches today outlining America's national security challenges, each man making the case why his respective political ideologies serve best to keep the United States safe.
click on the link to read the article on FoxNews.com:
http://www.foxnews.com/politics/2009/05/21/obama-cheney-excerpts-national-security/
click on the link to read the article on FoxNews.com:
http://www.foxnews.com/politics/2009/05/21/obama-cheney-excerpts-national-security/
Wednesday, May 20, 2009
RNC Chairman Michael Steele Issues Statement On Today's RNC Resolution Vote
Coalition department e-mail Alert:
NATIONAL HARBOR, MD – Republican National Committee (RNC) Chairman Michael Steele today released the following statement on the RNC resolution vote.
“The Republican Party strongly believes that a government which spends without restraint, incurs record amounts of debt, owns banks and makes cars is not the right kind of ‘change’ America needs. Republicans are united in opposition to the destructive policies of the President and Congressional Democrats. I am pleased that the committee adopted a resolution that focuses on the Democrats’ policies and their destructive effects on America’s economic engine, rather than attempting to rename our opponents. The RNC and the entire Republican Party is moving forward with strength and unity,” said RNC Chairman Michael Steele.
NATIONAL HARBOR, MD – Republican National Committee (RNC) Chairman Michael Steele today released the following statement on the RNC resolution vote.
“The Republican Party strongly believes that a government which spends without restraint, incurs record amounts of debt, owns banks and makes cars is not the right kind of ‘change’ America needs. Republicans are united in opposition to the destructive policies of the President and Congressional Democrats. I am pleased that the committee adopted a resolution that focuses on the Democrats’ policies and their destructive effects on America’s economic engine, rather than attempting to rename our opponents. The RNC and the entire Republican Party is moving forward with strength and unity,” said RNC Chairman Michael Steele.
Obama Tries to Keep Order Among Democrats on Gitmo
By Trish Turner/AP
President Obama will deliver a speech Thursday addressing plans to close the Guantanamo detention camp, as Democrats back off support for funding the closure. President Obama is trying to keep Democratic unrest from derailing his plans to close the Guantanamo Bay detention camp, offering up a speech Thursday meant to shed light on how the administration expects to transfer 240 detainees off the island.
The speech already appears to be overdue, considering the resistance and mixed messages coming from top-ranking Democrats over the issue on Capitol Hill. On Wednesday, the Senate will vote on an amendment that not only blocks supplemental funds from being used to close Guantanamo and move detainees to U.S. soil, but also orders that no funds already in U.S. coffers be redirected toward that purpose. The amendment precludes the upgrade of any U.S. facility or the building of any new facility to house detainees. The supplemental bill on which senators are voting lasts until the new budget year, which starts on Oct 1. The amendments complicating Guantanamo closure don't stop there. This afternoon, the Senate is expected to vote on an amendment from Senate Minority Leader Mitch McConnell, R-Ky., that would mandate a U.S. threat assessment for every single detainee at Gitmo. Such votes make assurances from Obama Thursday all the more important.
Democrats had been hammered by Republicans, some of whom don't want Guantanamo shuttered at all, over the possibility that detainees could be sent to live in the United States -- in prisons or otherwise. Democrats agreed with that line Tuesday, deciding to pull $80 million from the war funding bill for the closure plan proposed by the president. They told the administration the money could be forthcoming, once the president presents a plan, that is now expected to be enacted in just seven months. Michele Flournoy, Obama's new Pentagon policy chief, said members of Congress must rethink their opposition to accepting these detainees into the United States. Flournoy said it is unrealistic to think that no detainees will come to the United States, and that the U.S. cannot ask allies to take detainees while refusing to take on the same burden. Without singling anyone out, Flournoy said lawmakers need to think more "strategically." White House Press Secretary Robert Gibbs said Tuesday that Obama will detail a "hefty part" of his plan for the detainees in his speech on Thursday. "We agree with Congress that before resources, that they should receive a more detailed plan," Gibbs said.
To continue enjoying the article click on the following link:
http://www.foxnews.com/politics/2009/05/20/obama-tries-order-democrats-gitmo/
President Obama will deliver a speech Thursday addressing plans to close the Guantanamo detention camp, as Democrats back off support for funding the closure. President Obama is trying to keep Democratic unrest from derailing his plans to close the Guantanamo Bay detention camp, offering up a speech Thursday meant to shed light on how the administration expects to transfer 240 detainees off the island.
The speech already appears to be overdue, considering the resistance and mixed messages coming from top-ranking Democrats over the issue on Capitol Hill. On Wednesday, the Senate will vote on an amendment that not only blocks supplemental funds from being used to close Guantanamo and move detainees to U.S. soil, but also orders that no funds already in U.S. coffers be redirected toward that purpose. The amendment precludes the upgrade of any U.S. facility or the building of any new facility to house detainees. The supplemental bill on which senators are voting lasts until the new budget year, which starts on Oct 1. The amendments complicating Guantanamo closure don't stop there. This afternoon, the Senate is expected to vote on an amendment from Senate Minority Leader Mitch McConnell, R-Ky., that would mandate a U.S. threat assessment for every single detainee at Gitmo. Such votes make assurances from Obama Thursday all the more important.
Democrats had been hammered by Republicans, some of whom don't want Guantanamo shuttered at all, over the possibility that detainees could be sent to live in the United States -- in prisons or otherwise. Democrats agreed with that line Tuesday, deciding to pull $80 million from the war funding bill for the closure plan proposed by the president. They told the administration the money could be forthcoming, once the president presents a plan, that is now expected to be enacted in just seven months. Michele Flournoy, Obama's new Pentagon policy chief, said members of Congress must rethink their opposition to accepting these detainees into the United States. Flournoy said it is unrealistic to think that no detainees will come to the United States, and that the U.S. cannot ask allies to take detainees while refusing to take on the same burden. Without singling anyone out, Flournoy said lawmakers need to think more "strategically." White House Press Secretary Robert Gibbs said Tuesday that Obama will detail a "hefty part" of his plan for the detainees in his speech on Thursday. "We agree with Congress that before resources, that they should receive a more detailed plan," Gibbs said.
To continue enjoying the article click on the following link:
http://www.foxnews.com/politics/2009/05/20/obama-tries-order-democrats-gitmo/
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