Late Night: Little GTO

By Jeralyn, Section Media
Posted on Sun Mar 29, 2009 at 11:54:35 PM EST
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Looks like all we'll be hearing about for the next few days is the death of the American car industry.

This is an open thread, all topics welcome.

< White House Asks GM Chief to Step Aside | Great News! Some Banks Want To Give TARP Money Back >

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Late Night: Little GTO | 54 comments (54 topical)

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My only hope (5.00 / 1) (#2)
by eric on Mon Mar 30, 2009 at 07:05:38 AM EST

is the GM sells SAAB to some company that will keep the brand alive. Or rather, bring it back to life following GM's tragic management of it.

You sound like my brother... (none / 0) (#34)
by vml68 on Mon Mar 30, 2009 at 09:56:17 AM EST

he only buys Saabs and just got another one last week.

Parent

: Sadly, (none / 0) (#36)
by eric on Mon Mar 30, 2009 at 10:03:59 AM EST

I am between SAABs right now.

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So much glee... (5.00 / 3) (#3)
by kdog on Mon Mar 30, 2009 at 08:10:50 AM EST

in some circles at the death of high-paying blue collar jobs....while the same circles lie, cheat, and steal to save their high-paying, low-value white collar finance sector jobs.

Racing to the bottom like a jumper off the Golden Gate..you guys ready to join the third world or what?

We are now a third-world economy (5.00 / 6) (#5)
by Cream City on Mon Mar 30, 2009 at 08:17:52 AM EST

already; that's what this economic mess means, according to the ex-chief economist for the IMF. I heard him interviewed on NPR recently and was struck by his comparisons and comments as well as by his ability to explain matters in a clear and concise manner (what we'd been hoping for from this White House, after the previous idiot's inability to speak).

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government---a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF's staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we're running out of time.

More from the ex-IMFer here in the Atlantic.

Parent

That is an excellent read (5.00 / 2) (#10)
by Militarytracy on Mon Mar 30, 2009 at 08:39:55 AM EST

I think you should repost it as a first comment in a new open thread today. After I wake up with some more coffee I'm going to go back and read it again as it is four long and precious pages of reality.....an almost impossible commodity to find these days.

Parent

: Feel free to do so (5.00 / 1) (#15)
by Cream City on Mon Mar 30, 2009 at 08:46:57 AM EST

if I don't get the chance, with my schedule today.
I tried to find the NPR interview when I heard it, as it was easier to follow -- even on only one cup of coffee then. :-) I envy the guy's students now, as he can make economics understandable. A gift!

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Simon Johnson (5.00 / 2) (#17)
by lilburro on Mon Mar 30, 2009 at 08:53:39 AM EST

as you may know writes at baselinescenario.com... while many of the posts on the main page are over my head, he helped put together this fantastic guide to the financial crisis for people like me. I know of no better resource!

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See you at the Walmart (none / 0) (#4)
by eric on Mon Mar 30, 2009 at 08:12:17 AM EST

kdog. That's all that's gonna be left.

Parent

Actually... (5.00 / 1) (#12)
by kdog on Mon Mar 30, 2009 at 08:42:30 AM EST

I think I'll just stop buying anything besides food, energy, and vice...that and a little love is all I need.

Unless you meant we'll all be working there...in that case I decided if I get laid off I'm gonna become a cigarette smuggler...a new growth industry.

Parent

: Hey, then you could buy a ranch (none / 0) (#14)
by Militarytracy on Mon Mar 30, 2009 at 08:44:43 AM EST

and employ large masses of people to work simply to feed yourselves :) I think it's a great idea.

Parent

or Carls Jr (none / 0) (#9)
by Capt Howdy on Mon Mar 30, 2009 at 08:38:17 AM EST

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I was going to ask what (none / 0) (#49)
by eric on Mon Mar 30, 2009 at 11:24:36 AM EST

a Carl's Jr is, but then I googled it. We don't have them here. I see that they own the Hardees chain, though, and there are a few of those around. Same logo.

Parent

: I was actually joking (none / 0) (#50)
by Capt Howdy on Mon Mar 30, 2009 at 11:34:58 AM EST

about the movie Idiocracy.
if you are not familiar net flix it.

Parent

Sad Thing is.... (5.00 / 3) (#6)
by gtesta on Mon Mar 30, 2009 at 08:22:08 AM EST

Detroit produced exactly what the market was asking for and what current legislation was encouraging.
With tax laws that gave favorable tax treatment to businesses that bought vehicles over a certain weight and with a failure to enact higher CAFE standards for the past 20 years.
Tax laws on vehicle weight were supposed to give a tax break to plumbers, tradesmen, etc. on their econovans, but instead doctors, lawyers, realtors, went and bought Escalades and Hummers and slapped their names on the side and viola, great tax benefits.

: It is a good point (none / 0) (#7)
by eric on Mon Mar 30, 2009 at 08:25:54 AM EST

I know an engineer that I often work with that one time bought a big, giant SUV and left it in his garage for 6 months because he didn't need it. He bought it for the tax benefit.

Parent
: Yup (none / 0) (#8)
by Militarytracy on Mon Mar 30, 2009 at 08:35:10 AM EST

I couldn't believe the size of vehicles everyone wanted. My husband wanted a new GIANT SUV too, it was huge fight with each spouse bringing their arguments. We ended up with an SUV and I would have won the fight to not have one except that these SUV's held the only survivors when they crashed into a compact car. I demanded some sort of "decent" gas mileage, we settled on the full sized Mitsubishi Montero. Now it's paid for and is usually pressed into full service hauling lots of dogs to and fro and at least in the days of the GIANT vehicles someone's extra row of seats Expedition wasn't going to plow into us and kill us and have all of Joshua's titanium protruding.

Parent

I've been meaning to apologize.... (5.00 / 1) (#26)
by kdog on Mon Mar 30, 2009 at 09:15:04 AM EST

to NY State, my state income tax return showed up on Friday...I guess the "no checks till August" rumor I heard from my mom's accountant was exactly that...a rumor. Only took 10 weeks.

Extra scratch for the roulette tables on the high seas come the end of April...woo-hoo!

I'm getting a whopping... (none / 0) (#28)
by MileHi Hawkeye on Mon Mar 30, 2009 at 09:35:29 AM EST

...$1 back from the State of Colorado. Woo-hoo! How much do you suppose it will cost to refund me that buck?

Parent

At least 2.... (none / 0) (#29)
by kdog on Mon Mar 30, 2009 at 09:37:41 AM EST

nah, its beuracracy, probably a c-note:)

Parent

: I'm thinking at least... (none / 0) (#31)
by MileHi Hawkeye on Mon Mar 30, 2009 at 09:47:09 AM EST

...a ten spot. I guess I'll just have to consider it my cost-of-living increase for this year and next.

Parent

That's better than the check (none / 0) (#30)
by Cream City on Mon Mar 30, 2009 at 09:46:56 AM EST

that my laid-off future son-in-law got from his former company last week. A check for $0.00 -- after taxes were taken out. No, I'm not kidding.

Parent

How is that possible? (none / 0) (#33)
by vml68 on Mon Mar 30, 2009 at 09:54:20 AM EST

n/t

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: That's what we want to know (5.00 / 1) (#38)
by Cream City on Mon Mar 30, 2009 at 10:04:54 AM EST

so we put together some questions to ask the union to ask the company. We're not holding our breath here while waiting for answers. . . .

Parent

taxes . . . (none / 0) (#48)
by pukemoana on Mon Mar 30, 2009 at 10:58:39 AM EST

I remember going to a tax info session for international students when I lived in NY state. This guy stood at the front of the room and said I'll answer your questions but I'm not here to proffer any information of my own volition. Skip a few years and I'm in Ontario, filling out tax forms and there are highlighted boxes saying 'have you thought of this way of minimizing your taxes?" "claim this amount this way and you'll owe less!" Completely different attitude

I recently filed my Canadian taxes electronically and got the refund deposited in my bank account within a week. yay

Parent

: I always do the "short" forms... (none / 0) (#51)
by kdog on Mon Mar 30, 2009 at 11:47:34 AM EST

my feeling is just tell me what the vig is, I don't wanna spend 4 hours of my life studying forms and looking up the varios loopholes to keep a few extra bucks.
Even on the short form there was a dedution I wasn't sure if I was allowed to take, the wording in the instructions is meant to confuse and discourage deductions I think...so I just took it. If the audit my arse I'll pay it back...whatever.

Parent

Obama was (none / 0) (#1)
by lentinel on Mon Mar 30, 2009 at 05:42:11 AM EST

is sure a lot tougher on the automakers and the CEOs than he is on Bush and Cheney. With them, it's "let's move forward" and "thanks for the service."

holy moly (none / 0) (#11)
by Capt Howdy on Mon Mar 30, 2009 at 08:40:38 AM EST

Fox News's Mad, Apocalyptic, Tearful Rising Star

Mr. Beck, an early-evening host on the Fox News Channel, is suddenly one of the most powerful media voices for the nation's conservative populist anger.

---

its a scary world

Frig, I don't who is scarier right now (5.00 / 1) (#13)
by Militarytracy on Mon Mar 30, 2009 at 08:43:03 AM EST

The leaders of the bunch I usually attempt to vote in or the other guys.

Parent

Im still goin (none / 0) (#20)
by Capt Howdy on Mon Mar 30, 2009 at 09:06:23 AM EST

with the other guys. but its borderline.

Parent

: I'm hearing ya! (none / 0) (#22)
by Militarytracy on Mon Mar 30, 2009 at 09:08:48 AM EST

Parent

I actually find myself... (none / 0) (#16)
by kdog on Mon Mar 30, 2009 at 08:47:26 AM EST

agreeing with the Beck-ster for a good 10 minute stretch here and there, then he'll contradict himself and lose me.

Another half-arse liberty advocate afraid to go all the way.

Parent

I think his libertarian tendencies (none / 0) (#19)
by Capt Howdy on Mon Mar 30, 2009 at 09:02:15 AM EST

stop at the unwillingness to participate in the social safety net.
99% of his politics are about as far from libertarian as you can get.

Parent

: True... (none / 0) (#25)
by kdog on Mon Mar 30, 2009 at 09:12:04 AM EST

He's libertarian as far as it will help big money and big business, and bails on the philosophy when it actually helps the little guy.

Parent

I can't even attempt to listen to him (none / 0) (#24)
by Militarytracy on Mon Mar 30, 2009 at 09:11:46 AM EST

after he made the video from his hospital bed about his horrible healthcare experience........he's like Rush who had a brush with reality and then shortly after surviving it twice filed it away in #13 up his backside :)

Parent

jeez (none / 0) (#35)
by connecticut yankee on Mon Mar 30, 2009 at 09:57:26 AM EST

He reminds me of the tank hybrids on BSG. Lot's of inane babble that doesnt seem to make much sense. I expect him to turn to the tv in mid-sentence and deadpan, "JUMP!".

Parent

: its ironic (none / 0) (#40)
by Capt Howdy on Mon Mar 30, 2009 at 10:09:02 AM EST

that he seems to think he is Howard Beal when in fact he is what Howard Beal was waring us about.

Parent
: Well, if he is one of those hybrids, I hope a (none / 0) (#41)
by tigercourse on Mon Mar 30, 2009 at 10:17:48 AM EST

number 5 (3?) come along to unplug him.

Parent

Death of America (none / 0) (#18)
by SOS on Mon Mar 30, 2009 at 09:02:08 AM EST

as we once knew it is more realistic.

actually (none / 0) (#21)
by Capt Howdy on Mon Mar 30, 2009 at 09:08:12 AM EST

if I had a lot of money I think I would buy some GM stock.
I dont think they are going away.

Why would you invest in (none / 0) (#23)
by SOS on Mon Mar 30, 2009 at 09:11:33 AM EST

"non-performing" debt, bankrupt enterprise, or even bubble-levitated bonds for that matter?

Parent

: because I know squat about (none / 0) (#27)
by Capt Howdy on Mon Mar 30, 2009 at 09:17:05 AM EST

""non-performing" debt, bankrupt enterprise, or even bubble-levitated bonds"
I just know that its unlikely that GM will be allowed to go away. more likely they will take the government money and come back with salable products.
fortunately I dont have lots of money so the risk is minimal.

Parent

hm (none / 0) (#32)
by connecticut yankee on Mon Mar 30, 2009 at 09:50:35 AM EST

I can't even imagine how bad news this week will go down in Detroit. The area is already in free-fall. Home prices are down about as much as Florida but unlike Florida, there may not be a bottom.

I don't think people realize how many small businesses in michigan service the auto-industry. They contract out a lot of business. Ive always wondered if that was to avoid the unions as much as possible.

What is going on (none / 0) (#37)
by CST on Mon Mar 30, 2009 at 10:04:39 AM EST

at my old school? Probably the weirdest alumni news I've ever gotten.

According to someone who still goes there, some students hiding in the hallways actually bit another student on the neck. Kids!

In other Boston news it was a bloody weekend. I am not looking forward to the summer.

weird (none / 0) (#39)
by Capt Howdy on Mon Mar 30, 2009 at 10:07:44 AM EST

I also saw the other news. awful.

Parent

: terrible (none / 0) (#44)
by CST on Mon Mar 30, 2009 at 10:38:06 AM EST

the sad thing is, while the siblings were big news, and tragically rightfully so, there was another triple homicide, and additional murder that no one noticed, because it's all too familiar for that neighborhood.
Except of course for those of us who live and have friends there.

Parent

I love Vampire stories (none / 0) (#42)
by Militarytracy on Mon Mar 30, 2009 at 10:18:00 AM EST

but I haven't even cracked any of the 'Twilight' series. I'm too old, I need old Vampire stories. But you have the Twilight craze among those with no frontal lobes in yet and they are going to do strange stuff. They are going to do some strange stuff anyhow :)

Parent

i was really into buffy (5.00 / 1) (#46)
by CST on Mon Mar 30, 2009 at 10:40:07 AM EST

back in the day.

Although I have to admit, this story made me rent twilight just to see what the big fuss was.

Meh.

Buffy was better (the show not the movie).

Parent

I watched a lot... (none / 0) (#43)
by MileHi Hawkeye on Mon Mar 30, 2009 at 10:26:25 AM EST

...of Dark Shadows back in the day and it just scared the crap out of my frontal lobe challenged brain. It didn't make me want to run around biting people though.

Parent

I loved Dark Shadows (5.00 / 1) (#45)
by Militarytracy on Mon Mar 30, 2009 at 10:39:42 AM EST

My mother always watched it and as soon as I could begin to figure out what it was about I became a wee junkie. I have admitted that when I was a kid I used to wrap the blankets around my whole head so that only my face was exposed to make it hard for Barnabus to bite me in my sleep. And as an adult, whenever I am very ill with the flu or such things I still find myself doing it subconsciously. I used to have a real scream of a fit if my poor mother wouldn't allow to me to watch Dark Shadows, but when I did watch it I had night terrors. It was a trial for awhile dealing with me and my affair with Dark Shadows.

Parent

: OMG! (5.00 / 1) (#47)
by MileHi Hawkeye on Mon Mar 30, 2009 at 10:43:22 AM EST

I did (and at times still do) the same thing with the blanket wrapped as tight as possible around my neck so the evil vampires couldn't bite me. Too funny!

Parent

Identical twins commit perfect crime (none / 0) (#52)
by jbindc on Mon Mar 30, 2009 at 12:39:42 PM EST

Link

German police say at least one of the identical twin brothers Hassan and Abbas O. may have perpetrated a recent multimillion euro jewelry heist in Berlin. But because of their indistinguishable DNA, neither can be individually linked to the crime. Both were set free on Wednesday.

: Hmmmmm, could this be a possibility (none / 0) (#53)
by Militarytracy on Mon Mar 30, 2009 at 01:46:22 PM EST

as kdog seeks civic minded cat burglars?

Parent
: Never seen it with the DNA angle before (none / 0) (#54)
by Bemused on Mon Mar 30, 2009 at 02:00:35 PM EST

but I have not only heard of the "which twin?" defense beong employed but actually saw a public defender use it once with a witness ID at a prelimnary hearing that happened to be before one of mine on a docket. I don't know how that one turned out because it was a relatively piddling case and I didn't follow it.

Parent

Late Night: Little GTO | 54 comments (54 topical)

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