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Economic History 101, Individual Vs. Government Initiative: The Great Leap Forward

The agricultural economy of the late 1950's largely resembled that of the Nationalists prior to Mao's ascension to power, characterized by peasant farmers tilling small plots on which they had some form of claim of ownership or tenancy, the latter of which dated from the time of China's last dynasty, the Qing line. All that changed in 1957 with the policy known as the Great Leap Forward, its major policy elements being the redirection of labor Read More »

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Was Joe Paterno Really That Generous?

Many of those defending Joe Paterno's legacy point to his involvement in and giving to many projects at the University. At the press conference of the Penn State University Board of Trustees on the release of the Freeh Report, Trustee Kenneth Frazier was quoted as saying, that the report found "inexcusable failures on the part of Joe Paterno and others to protect children. But I'd also say Joe Paterno did a lot of tremendous things in Read More »

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Ford and the Auto Bailout…

The visit of President Barack Obama to Detroit yesterday gave the Administration ample opportunity to crow about the Government led auto bailout of 2008. "If it was up to the Republican Party, Chrysler and General Motors would not have been here," UAW Secretary-Treasurer Dennis Williams told the crowd of thousands "If it wasn't for President Obama, we would not have the opportunity to once again build the best cars and trucks in the whole world." I should Read More »

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Obama and Motown….

President Obama apperared today in my hometown, the city of wheels, Detroit, MI. Although in the grand and beautiful state of Michigan for the Labor Day weekend, I did not venture into the Motor City to hear the President speak, instead choosing to stay in a quintessentially Michigan setting near a lake and tune into it on C-Span. What I was treated to via the helfpful public affairs channel was vintage Barack Obama at his Read More »

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AT&T and T-Mobile: Troubled Reasoning Despite Good Policy

While I applaud the decision of the Department of Justice to file suit to block the merger of AT&T and T-Mobile as a sound free-market and pro-competive decision, recent quotes from Administration officials leave us to believe that this positive and constructive move may be more of a case of a blind squirell finding a nut than any sort of visionary and sound policy posture. Moreover, in reading the reviews of this action, I Read More »

Category Archives: Business

Ford and the Auto Bailout…

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The visit of President Barack Obama to Detroit yesterday gave the Administration ample opportunity to crow about the Government led auto bailout of 2008.

“If it was up to the Republican Party, Chrysler and General Motors would not have been here,” UAW Secretary-Treasurer Dennis Williams told the crowd of thousands “If it wasn’t for President Obama, we would not have the opportunity to once again build the best cars and trucks in the whole world.”

I should note that the first phase of the auto bailout was announced on December 19, 2008 by Treasury Secretary Paulson, under Republican George W. Bush, but facts don’t seem to matter these days.  As I pointed out yesterday in a review of Mr. Obama’s speech, divisiveness, catalyzed by mendacity if necessary, seems to be the tenor of the times.

The President, as well, was not shy about proclaiming the success of his program stating:  “When we stood by the auto industry, we made some tough choices that were  necessary to make it succeed,” Obama told the crowd. “Now the Big Three are  turning a profit and hiring new workers and building the best cars in the world  right here in Detroit.”

Of course, the auto bailouts did not bail out “The Big Three” but rather two of the three, one of which is now controlled by an Italian company.

Moreover, one segment of the UAW and the “Big Three” seems to be getting the shaft – Ford Motor Company and its employees.  As the following article makes clear…

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