Sirius Weekly Thread Week April 12

[john]

Well you're wrong about my company. Headcount is actually up. I question some of the hires, but hey, who am I?

I hear what you are saying John. I'm no fan of what Obama is doing. In retrospect, McCain would likely have been the better choice. It's simply a matter of revenues and expenses. The gov't can stimulate by increasing expenses (Obama) or decreasing revenue through tax cuts. Tax cuts would have been better IMO. I could spend that money in my community for things that need to be done, and pay sales tax. Or what I don't spend, I can save. Savings is liquidity. All good, right? Not to mention how efficient our government is at spending.

We know of Chapter 7 and 11, it has been said that the next wave of bankruptcies will be municipalities (Ch 9 I think). Harrisburg, PA is high on that list - defaulting on bond maturities. Might be the next "assignable cause".

Just one correction to your post. You got what was said confused. When I said for every 10 people your company is hiring 9 were lost, is refering to the economy in general. What I am saying is that for every 10 jobs created ANYWHERE 9 are lost. I dont even have to get into the fact that that does not even count the new people entering the job market each month. The numbers are the numbers. That is why even the Obama administration is telling us, dont expect the unemployment rate to go down anytime to soon because WE are expecting it to be close to this high well into next year (2011). Boy if I did not know any better, I would think he is telling us to be ready for Europian style unemployment rates.

[Havakasha]

Things are looking up. Financial reform bill will be passed. Then hopefully we can move onto energy and immigration bills. Steady progress on many fronts.
Obviously we have to work on bringing unemployment down from the Bush recession and that one will take a long time. We had to spend our way out this recession. Almost ALL economists (conservative and progressive) agreed. They may not have agreed on the amounts and the particular programs but they were in agreement that spending as opposed to tax cuts for the rich were the way to go. And by the way 95% of the middle class got tax cuts this year. i'm sorry to be a bearer of the facts.
First you spend then you cut deficit not the other way around. All those Republicans who let the deficit rise and who supported dishonest accounting to boot under Bush have know discovered a new religion on deficits. Hypocrisy at best. Under McCain/Palin we would probably be at closer to 11% to 12% unemployment.

[john]

Oh and by the way. Remember the Republicans line GM="Government Motors"? It looks like they are going to have to eventually drop that line. We are getting paid back and with interest.

http://www.dailykos.com/storyonly/20...nt-Motors-meme

Wait a minute are you saying GM only borrowed 8.3 billion. Hummmm I seem to recall it was more like 64 billion borrowed from the U.S. and Canada.

P.S. Much of that amount came at the cost of firing 63,000 people. I wonder if it was not now owned by the unions and the government if that would have been tolerated by them before they owned it. I should not have to get into how the Obama administration ran rough shot over normal bankruptcy law to get what THEY wanted.


Here is a clue about many bankruptcies why the company may go bankrupt the assets are still there and would be put back to use UNDER NEW OWNERSHIP. The government did not have to step in to save GM the bond holders would have done that themselves. The end result may not have been GM but the end result of most of the jobs would have still been there and most likely without all the terrible union contracts that were the reason for them going bankrupt in the first place.


Here is an example for you: Take SIRIXM the fact is if SIRIXM would have gone bankrupt there would still be satellite radio just not SIRIXM satellite radio.

[Havakasha]

You have to read. "Looks like they are going to eventually have to drop the line".

Are you saying we wont get most of our money back and that the Govt will continue to be in the car owning business? You did read the article now didnt you?

[SiriuslyLong]

BB you've been saying the same $hit forever. I doubt the market will see 6500 again, but if it does, I'm prepared. You like FAZ; I like SPXU. I plan on making money whichever way the market goes. That's one thing I've learned through this mess. The difference between you and I is that I'm not waiting for an axe to fall, or rooting for it either.

The only long position I have is SIRI, and that's because I'm holding a bag. Glad I did dollar average down LOL. Those nickel share's really helped out.

[SiriuslyLong]

Just one correction to your post. You got what was said confused. When I said for every 10 people your company is hiring 9 were lost, is refering to the economy in general. What I am saying is that for every 10 jobs created ANYWHERE 9 are lost. I dont even have to get into the fact that that does not even count the new people entering the job market each month. The numbers are the numbers. That is why even the Obama administration is telling us, dont expect the unemployment rate to go down anytime to soon because WE are expecting it to be close to this high well into next year (2011). Boy if I did not know any better, I would think he is telling us to be ready for Europian style unemployment rates.

Correct, I was citing my company, and completely agree with your point. Job losses > new jobs.

[Havakasha]

Just in case you dont want to read it.

The head of GM Ed Whitacre says "we're paying back--in full, with interest, YEARS ahead of schedule..."

Wolkonowitz say taxpayers coud recoup virutally all their investment if the govt waits until 2013 r 2014 to sell its stock.

"BUT THE OBAMA ADMINISTRATION SAYS IT WANTS TO DIVEST THE STOCK AS SOON AS POSSIBLE."

translation: The Obama administration doesnt want to be in the car owning business despite what the Republicans have said. Watch and see.

[john]

You have to read. "Looks like they are going to eventually have to drop the line".

Are you saying we wont get most of our money back and that the Govt will continue to be in the car owning business? You did read the article now didnt you?

You dumb twit, I dont have to read a bias article from one of the most liberial outlets there is (besides MSNBC and the New York Times) I KNOW WHAT WAS BARROWED and I know 8.3 billion is only 13% of it. I'll tell you what, call me when they at least get to the 50% mark of the total, OK.

[Havakasha]

Those are called quotes. Not bias.
Do you disagree with the chairman of GM or not?
Do you disagree that we are going to get most of our money back or not?
Do you disagree that the Obama administration wants to get out of the car owning business or not?

More jobs would have been lost if we had followed your path. Just the facts.


P.S. This one is from CNBC. you now that Cramer loving, Obama hating, Big bank and Goldman Sachs supporting institution.

http://www.cnbc.com/id/36689823

[SiriuslyLong]

Things are looking up. Financial reform bill will be passed. Then hopefully we can move onto energy and immigration bills. Steady progress on many fronts.
Obviously we have to work on bringing unemployment down from the Bush recession and that one will take a long time. We had to spend our way out this recession. Almost ALL economists (conservative and progressive) agreed. They may not have agreed on the amounts and the particular programs but they were in agreement that spending as opposed to tax cuts for the rich were the way to go. And by the way 95% of the middle class got tax cuts this year. i'm sorry to be a bearer of the facts.
First you spend then you cut deficit not the other way around. All those Republicans who let the deficit rise and who supported dishonest accounting to boot under Bush have know discovered a new religion on deficits. Hypocrisy at best. Under McCain/Palin we would probably be at closer to 11% to 12% unemployment.

No tax cut here. Cut uncle sam an $800 check last week. That's what you get for making middle class money and being responsible and keeping your mortgage up to date, taking care of your kids.....

I'm sick of this "rich" stuff. My house pulls in ~$170,000 a year and we can't afford new siding, a shed or internal doors without borrowing. And I have to write Obama a check. Screw him.