Good for the attorney general and US attorney for filing their complaint. sm

• Europe - Swastika vigilantes kill foreign students to keep their city 'clean' ...see article. - Democrat
  • Hate to say this, but I thought - PK
    • Good for the attorney general and US attorney for filing their complaint. sm - Democrat
      • Yeah, but there's an abundance - PK
        • *Hate* jocks - an observer
          • Who have they threatened to kill? - PK
            • One of them ran a parody of the president being assassinated - an observer
              • Who the heck wants Cheney for prez? YIKES! - holy cow
              • Thank you for such a wonderful - PK
                • P.S. - PK
                  • Ohh I'm so disappointed - an observer

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CHICAGO (Reuters) - General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition.

"One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked."

Citing "people familiar with the matter," the story said that GM could also ask for additional government funds to stave off a bankruptcy filing.

GM declined to comment, the story said.

General Motors and Chrysler LLC face a Tuesday deadline to file restructuring plans to the government in exchange for receiving $17.4 billion in federal loans.

Automakers have struggled as U.S. auto sales have tumbled amid a recessionary economy. U.S. auto sales in January tumbled to a 27-year low.
GM has been in talks with bondholders and the United Auto Workers union to get an agreement on a restructuring that would wipe out about $28 billion in debt for the auto maker, sources have told Reuters. However, it appears unlikely a deal could be reached by the Tuesday deadline, they said.

GM has already announced plans to cut 10,000 salaried workers worldwide, or 14 percent of its staff, impose pay cuts for most remaining white-collar U.S. workers and has offered buyouts to its 62,000 U.S. workers represented by the UAW.

In addition, it is trying to sell its Hummer SUV and Swedish Saab brands and is reviewing the status of its Saturn brand.

GM to Offer Two Choices: Bankruptcy or More Aid

General Motors Corp., nearing a federally imposed deadline to present a restructuring plan, will offer the government two costly alternatives:

commit billions more in bailout money to fund the company's operations, or provide financial backing as part of a bankruptcy filing, said people familiar with GM's thinking.

The competing choices, which highlight GM's rapidly deteriorating operations, present a dilemma for Congress and the Obama administration.

If they refuse to provide additional aid to GM on top of the $13.4 billion already committed they risk seeing an industrial icon fall into bankruptcy.

Some experts and members of Congress say bankruptcy reorganization ...

http://www.washingtonpost.com/wp-dyn/content/article/2006/06/25/AR2006062500764_pf.html

Democrats Cite Report On Troop Cuts in Iraq
Pentagon Plan Like Theirs, Senators Say

By Michael Abramowitz and Thomas E. Ricks
Washington Post Staff Writers
Monday, June 26, 2006; A01

Senate Democrats reacted angrily yesterday to a report that the U.S. commander in Iraq had privately presented a plan for significant troop reductions in the same week they came under attack by Republicans for trying to set a timetable for withdrawal.

Sen. Barbara Boxer (D-Calif.) said that the plan attributed to Gen. George W. Casey resembles the thinking of many Democrats who voted for a nonbinding resolution to begin a troop drawdown in December. That resolution was defeated Thursday on a largely party-line vote in the Senate.

That means the only people who have fought us and fought us against the timetable, the only ones still saying there shouldn't be a timetable really are the Republicans in the United States Senate and in the Congress, Boxer said on CBS's Face the Nation. Now it turns out we're in sync with General Casey.

Sen. Carl M. Levin (Mich.), one of the two sponsors of the nonbinding resolution, which offered no pace or completion date for a withdrawal, said the report is another sign of what he termed one of the worst-kept secrets in town -- that the administration intends to pull out troops before the midterm elections in November.

It shouldn't be a political decision, but it is going to be with this administration, Levin said on Fox News Sunday. It's as clear as your face, which is mighty clear, that before this election, this November, there's going to be troop reductions in Iraq, and the president will then claim some kind of progress or victory.

At issue was a report yesterday in the New York Times that Casey presented a private briefing at the Pentagon last week in which he projected that the number of U.S. combat brigades -- each with about 3,500 troops -- would decrease from 14 to five or six by the end of 2007. About 127,000 U.S. troops are now in Iraq, including many support troops beyond the combat brigades.

White House and Pentagon officials declined to confirm the projections, saying only that Casey met with President Bush on Friday to discuss how the military might proceed in Iraq after Prime Minister Nouri al-Maliki forms a new government. Bush has often said the U.S. military will stand down as Iraqi forces become adequately trained to handle security.

One White House official said there was no formal plan presented or signed off on in Casey's meeting with Bush, only a discussion of various scenarios to guide their talks with the new Iraqi government.

We are entering a phase where discussions with the Iraqis will begin to practically define what 'stand up, stand down' will look like over the next two years, said this official, who spoke on the condition of anonymity in order to discuss internal conversations.

This official dismissed the suggestion by some Democrats that Casey's approach resembles their approach. A conditions-based strategy outlined by our generals on the ground is a far cry from politicians in Washington setting an arbitrary date for withdrawal, the official said.

A Pentagon official said his impression is that Bush and Casey had no lengthy discussion about troop reductions, and that any projections of specific numbers remain speculative. This source noted that Casey had said that he hoped U.S. force levels would be substantially reduced this year but has decided against such a move because of the continuing violence in Iraq.

I think there will be a modest decrease between now and the end of the year, the official added. But, he concluded, Nobody really knows.

U.S. commanders have long wanted to cut the size of their force in Iraq. But plans to do so have proven difficult to realize.

Before the U.S. invasion in March 2003, the Pentagon's war plans called for a swift reduction, from about 150,000 to 30,000 by the early autumn of that year. Paul Wolfowitz, then the deputy defense secretary, told a congressional committee that the thinking behind this was that it is hard to conceive that it would take more forces to provide stability in post-Saddam [Hussein] Iraq than it would take to conduct the war itself and to secure the surrender of Saddam's security forces and his army -- hard to imagine.

That plan was shelved when a fierce insurgency broke out in the summer of 2003. That fall, top commanders hoped to cut the U.S. presence to about 100,000 by the next summer. But a major escalation in violence in the spring of 2004, along with the collapse of the new Iraqi police force and parts of the new army, forced that plan to be discarded as well.

The result is that the United States has kept about 135,000 soldiers in Iraq for the past three years, with occasional fluctuations to as high as 160,000.

The widespread expectation inside the Army is that the U.S. presence will be cut to about 100,000 by the end of this year, with further reductions in 2007 to perhaps 50,000 to 75,000. That size could be maintained almost indefinitely by the Army and the Marine Corps. But whether those new plans will be realized will depend on events in Iraq, which have proven difficult to predict.

Casey's meeting with Bush followed an eventful several weeks in Iraq that included the death of insurgent leader Abu Musab al-Zarqawi and the completion of a new Iraqi government. It also followed particularly rancorous debates in the House and Senate, in which GOP lawmakers -- with the encouragement of the White House -- went after Democrats for being insufficiently supportive of the war effort and said decisions about issues such as troop deployments should remain with the president.

Coming so soon after the congressional debates, the report of Casey's briefing served to keep the debate going another day.

Sen. John F. Kerry (D-Mass.), who co-sponsored an unsuccessful resolution setting a July 1, 2007, deadline for the removal of U.S. combat troops from Iraq, issued a statement saying the Casey plan looks an awful lot like what the Republicans spent the last week attacking. Will the partisan attack dogs now turn their venom and disinformation campaign on General Casey?

But Sen. John W. Warner (R-Va.), chairman of the Armed Services Committee, played down the significance of the reported briefing. The department's drawn up plans at all times, but I think it would be wrong now to say that this is the plan that we're going to operate under, he said on Fox News Sunday.

Warner counseled patience. We have struggled and made tremendous sacrifice to give this nation its sovereignty, he said. They are now beginning to exercise this sovereignty with a young government. Give them a chance to move out. We will consult with them. I'm confident our government will not let them make mistakes that would reflect adversely on troop withdrawals.

Sen. Richard G. Lugar (R-Ind.), chairman of the Foreign Relations Committee, voiced some skepticism that the administration can reach the conditions set for withdrawing troops.

Given current events in Baghdad, in particular, reported on every day quite apart from Anbar province, the violence is horrific, he said on Face the Nation. So getting to the plans either of General Casey or Maliki are a broad sweep. But it is good news to know that there are contingency plans.

People rarely speak of the majority you mentioned. Invading Iraq was a huge mistake since Iraq and Iran were basically enemies, working against each others interests.  Now, thanks to US, the area has been split wide open with positive Iranian influence now present in Iraq, something Saddam Hussein had fought.

I came here at first to debate. It took two posts of acting people to be reasonable in debating (all can be found on this board) before I was labeled by gt.  Since then, after multiple attempts at trying to debate, I have come to point out that while you may think you have taken the higher ground, you have indeed created a cesspool.   So proud that the conservative board is "quiet and peaceful" when those who made it otherwise are posting here daily.  Most of the posters on the convservative board afforded you the decency and honor of not posting here.  But that favor was never returned.  You (and I mean others, I have no idea who YOU are since everyone picks the name of the moment) bullied, brow-beat, denigrated and beat to a pulp any poster who dared to post on the Conservative board.  And it wasn't just AG and Nan and MT. It was anyone.  Well, you have your wish now. You are queens of everything  Masters of your domain.  Live in the land where NO ONE DARES TO DISAGREE with you.  Happy now?  As if.

No I did not watch the youtube link you posted.  That  is definitely not a credible source for such an important issue as this.  The CERTIFIED copy on Factcheck (and never mind discussing the credibility of Fact check) should be enough, it shows the fold marks and clearly the certification and signature.

Many, many years ago, I worked in a small hospital and in addition to my MT-ing, part of my job was to obtain birth certificate applications from new moms.  I know that my birth certificate has the AGE of my parents at my birth, not their birth dates.  It also lists the state in which they were born.  I do not know what Hawaii requirements for birth certificates are but when it is certified by the STATE I would assume it to be legitimate.  The hospital issued "birth certificate" is  not and never has been to my knowledge, a legal document.

With the furious campaining done by Hillary and McCain, do you not even stop to think that if they had not been absolutely certain that his birth certificate was legitimate they wouldn't have blown the lid off months and months ago, especially when it became obvious he was likely to win???  Saying otherwise is ridiculous.  They had no problem trashing him with  Ayers, etc. up until Day Last did they?  Anything to try to knock him out of the race.  So are you saying they are part of the conspiracy to "cover up" Obama's birth certificate?  Come on.....legitimate MTs are more intelligent than that.  Since I don't know you, I have no idea if you are an MT or not.

How many fat kids in school were popular?  Not many, eh?  This type of behavior stems from home.  How many of us talk bad about other people in front of our children?  I'm not just talking about homosexual bashing either.  How many of us gossip about what so and so wore, etc.?  How many of us bash others when we don't think our kids are paying attention? 

How many times do Christians post on here and are bashed horribly for their beliefs and called names?  How many Christians post on here bashing homosexuals and calling them sick freaks?  This type of behavior comes in all shapes and sizes and comes from all sides....black vs white, gay vs straight, believer vs nonbeliever. 

You cannot take on particular subject like homosexuality and us it soley to teach tolerance of people different than you.  There are many other things that children are picked on for than just that one subject. 

Oh look at 4 eyes over there or how about that dork with the braces, etc.  Look at the kid not wearing designer clothes.  Look at the freak with the emo makeup on. 

See what I mean.....tolerance is such a broad thing to teach children that you can't just use homosexuality to teach tolerance and I think it is unfair to people who do not agree with homosexuality that their kids are being taught ACCEPTANCE and not just tolerance on that issue anyway. 

Like I said before....I keep my God out of school.....keep your homosexuality out as well. 

Then came October. Sales plummeted an astounding 45% over the same period last year, a result of a slowing economy and a dearth of financing for would-be car buyers. Total U.S. car and light-truck sales this year could come in at 13.5 million, 2.6 million fewer than last year. "That's in nobody's business plan," says Kimberly Rodriguez, an automotive specialist with Grant Thornton. "The best planning in the world cannot survive that fluctuation." It's now clear that GM can't survive as an ongoing entity without massive federal assistance. The company is burning through more than $2 billion each month. It has $16 billion left. As if they were aboard a dirigible losing altitude, GM's bosses have been frantically throwing all manner of stuff overboard — retiree health-care benefits, people, assets, new car design — to conserve $5 billion. That will get it through the year. (See pictures of the 50 worst cars of all time.)

But 2009 is the year of reckoning for GM and the rest of the domestic auto industry, if not the economy as a whole. The GM crisis is raising once again the issue of how far the government should go in rescuing banks, insurance companies, mortgage holders, credit-card issuers and now carmakers. GM has no doubts about it. "Immediate federal funding is essential in order for the U.S. automotive industry to weather this downturn," GM president Fritz Henderson admitted to investors during a conference call in which GM announced a third-quarter loss of $2.5 billion.

No one is more aware of that need than Barack Obama, who carried Michigan by a huge margin. The President-elect is committed to helping the Detroit Three, and House Speaker Nancy Pelosi is leading a rescue party that plans to get a bailout bill in front of President Bush before Thanksgiving. So far, the President has offered only to speed through Congress an already approved $25 billion loan to help Detroit create new fuel-efficient models. But GM needs an additional $10 billion simply to pay its bills next year and $15 billion more to close plants, compensate redundant workers and dump some of its lesser-performing brands.

The issue boils down to a historic proposition: Is what's good for GM still good for the country?

"If GM were to go into a free-fall bankruptcy and didn't pay its trade debts, then the entire domestic auto industry shuts down," says Rodriguez. The system — the domestic auto plants and their interconnected group of suppliers — is far bigger than GM. It includes 54 North American manufacturing plants and at least 4,000 so-called Tier 1 suppliers — firms that feed parts and subassemblies directly to those plants. That includes mom-and-pop outfits but also a dozen or so large companies such as Lear, Johnson Controls and GM's former captive Delphi. Beyond those are thousands of the suppliers' suppliers.

Although the Detroit Three directly employed about 240,000 people last year, according to the industry-allied Center for Automotive Research (CAR) in Ann Arbor, Mich., the multiplier effect is large, which is typical in manufacturing. Throw in the partsmakers and other suppliers, and you have an additional 974,000 jobs. Together, says CAR, these 1.2 million workers spend enough to keep 1.7 million more people employed. That gets you to 2.9 million jobs tied to the Detroit Three, and even if you discount the figures because of CAR's allegiance, it's a big number. Shut down Detroit, and the national unemployment rate heads toward 10% in a hurry. (See Pictures of the Week.)

Even if just one of the Detroit Three — and GM is the most likely, as Ford is in better shape and Chrysler is much smaller — spiraled into a free-fall bankruptcy, the systemic effects, at least initially, would be huge. The whole industry would not be able to build cars in the U.S., because of the lack of parts. "Unlike the airlines or steel, when you look at the automobile industry and the fact that the whole supplier base is connected — to Ford, Chrysler, Toyota — it will have a ripple effect on the entire industry," says Nicole Y. Lamb-Hale, a bankruptcy expert at the Detroit office of Foley & Lardner, a law firm that represents some GM suppliers.

A carefully planned, prepackaged bankruptcy would still be troublesome, she says. Throwing 479,000 GM retirees onto the rolls of the Pension Benefit Guaranty Corp., for instance, could overwhelm it. And GM's agreement to fund the United Auto Workers' voluntary employee beneficiary association (VEBA) — thus getting a $50 billion unfunded liability off its books — might then be in jeopardy, as would the union's health benefits. The VEBA has already saved GM nearly $5 billion in the past quarter, and still greater benefits lie ahead.

A bailout won't spare GM or its workers pain. Assuming the government bridges GM to the future — or provides debtor-in-possession financing in a bankruptcy — there is still a ton of restructuring to do. The company operates 21 plants in North America and has three more that are scheduled to close. But Grant Thornton's Rodriguez says that still leaves five to go to match demand. "They still need to take structural steps: reduce suppliers, reduce the number of plants, reduce the cost structure and get rid of excessive debt." Most analysts say GM has to dump underperforming brands too.

Shutting down plants and cutting labor are costly — it's one of the ironies of the auto business. Deutsche Bank estimates that GM would have to spend $12 billion to chop labor costs and compensate dealers who lose their franchises. That would lower GM's North American operating costs from the current $31 billion to $25 billion annually, says Deutsche Bank. (See pictures of the global financial crisis.)

None of this can happen without the cooperation of the UAW, which is probably feeling better knowing that Obama is on his way to Washington. Although it hasn't shown its hand, the UAW may try to mitigate job losses in the U.S. by pushing GM and Ford to build fewer vehicles in Mexico, according to Sean McAlinden, chief economist at CAR. Obama might be sympathetic to that argument; he said during the campaign that NAFTA needed to be re-examined. The carrot for GM is that any new workers it hires in the U.S. will make $13 to $14 an hour and collect limited benefits rather than work for $29 an hour and get full benefits — the old UAW wage.

There's also a legitimate question as to who would do the restructuring. GM CEO Rick Wagoner has made the case that his crew is best placed to run the turnaround since it knows where the cost buttons are. But critics like Jim Schrager at the University of Chicago Booth School of Business say the wrong people are in charge: "I think you would only put money in GM if you had a complete change in the board and the current management. They are diligent. They worked very hard, but it just hasn't worked." In Schrager's view, GM is a strategic failure. It can manufacture high-quality cars, but it neither makes the right kind nor markets them effectively. He'd bust the company up into three independent firms: Chevy, Buick-Pontiac-GMC and Cadillac-Saab-Saturn.

If that's ultimately where Detroit ends up, is it worth the price to get there? Put another way, does GM deserve to be bailed out or left at the mercy of the market and almost certain death? "The University of Chicago training in me says the market should prevail," says Schrager. "But the Chrysler bailout was a success, and, gosh, I'd love to save it." That sentiment is not shared by everyone, and it goes to the heart of the central economic debate facing the country — between hard-nosed capitalists, who believe the market should decide, and public-policy types who view the economy as something far more organic than a balance sheet. But ultimately, whether GM is dead or alive, the taxpayers are on the hook for billions, for everything from lost tax revenues to higher unemployment costs to taking over GM's pension obligations. The decision that Washington has to make is whether we pay for GM's survival or for its funeral.

— With reporting by Joseph R. Szczesny / Detroit

over the treaty with Taiwan?  This was reported on Fox News this week.

Anyone been following this?