The New GM or should is it Government Motors

Filling for Chapter 11 is what they were looking for, the government won’t let them falter because they have too much invested and a good portion amount of the population is part of their workforce or tied to that industry.

Chapter 11 in this situation means they can ditch their bad debts and keep their good assets.

Hello:

  • Chevrolet
  • Cadillac
  • Buick
  • GMC

Bye bye:

  • Hummer
  • Saab
  • Saturn
  • Pontiac

Ownership of the company, split very nicely. The Government won’t interefere but they will check up on their progress, I wonder how they plan on doing that.

The government is basically giving GM about $50 Billion but because of the bankruptcy they will agree to dropping that figure to $6.7 Billion

The Labor people or UAW, instead of $20 Billion pay out which GM owed them they took a 17.5% stake of the new company. I have a feeling its not going to be worth the same amount.

Dealers are out, only 3,605 by 2010

When GM is in chapter 11 they can pretty much restructure what ever they want without any litigation risks. Even the UAW is accepting less pay, job cuts, and plant shutdowns for the sake of keeping what jobs they do have.

Lets think about this way, a GM worker makes twice the amount Toyota Worker does in the US while only being 25% as productive as the Toyota worker. Seems GM is gonna be trimming some fat and cutting back on the feed.

Will GM survive, I think they will, but it shall grow to be a different creature.

Link: Autoblog

Moe @ Gumball

mohammed-al-thani-rr

I got this from an anonymous email, a really anonymous email but I thought I would post it up. It seems that Mohammed Al Thani of Sharjah will be participating in this year’s Gumball, that I am not surprised about since he is a car fanatic of sorts. But I’m surprised he is participating in a Rolls Royce Drop Head, you have to cover 3000 miles in a certain amount of time and avoid police throughout that period, why would you do it in Rolls Royce not one of the many fast cars he owns.

mohammed-al-thani-rr2

Name: Mohammed Al-Thani
D.O.B: 16-06-1982
Nationality: United Arab Emirates
Home Town: Sharjah, UAE
Occupation: Retired!!!
Career Highlight: Looking for one first week of May!
In our quest across America we will imitate our character as Prince Abdul Bin Falafel, dressed in our traditional Sheikh attire, we will pursue the quest to avoid being stopped by police using our on-dashboard radar detectors, police scanners and a cool box filled with just ”Red Bull”. The website is up and running www.moenmatt.com check it out…

Link: Gumball
Link: Moe&Matt

Review: Blackwater – The Rise Of the World’s Most Power Mercenary Army – Jeremy Scahill

There was a time you kept hearing about Blackwater the security firm. I decided to pick up this book to see what the hype was all about. You would think that we do have an ideae about what is going on with the US military in Iraq and other areas of US military interest. As I started reading this book you get a feeling of being an insider on the plans that were being made for the Iraq invasion, but there is more to it then that. The private military industry has been riding a high tide of the Bush administration no longer a tool of the small countries but an integral part of the US military force. You are reading through this book and can’t believe that it is real and that all this is going on. It explains the reason for a lot of what is happening around the Middle East and other areas of military activity. I recommend this book to any person interested in US miltary activities and their reasoning for their approach in their aggressive foreign policy.

Link: Amazon

Rating:

Emirates New Flights

Recently Emirates has been making some big announcements, they now have 3 very long haul flights. They are really taking over some of these long haul flights, I know someone who just tried the Brazil flight and they said it was very comfortable for 16 hours. It is a little bit more expensive then planes with stop overs. BA Flight from Kuwait to London, then London to San Paulo is cheaper then the Dubai to San Paulo for 400 KD. So sometimes it might be a little bit more expensive but still very convenient flights to have, some of these flights are booked up ahead with no availability for a few months.

  • San Paulo, Brazil
  • Los Angeles, United States (Sept 08)
  • San Francisco, United States (Oct 08)