The $82 billion auto bailout has been a Crony Socialist nightmare mess. We’re going to lose at least $30 billion on the deal. And that’s only if the Barack Obama Administration’s math can be trusted - a dicey proposition at best.
The Administration eviscerated two hundred-plus years of bankruptcy law, throwing bond holders over the side to over-reward their United Auto Workers shock force buddies.
General Motors (GM) is cutting undisclosed deals with executives’ wives businesses.And on, and on, and on....Haven’t heard most or all of this? Not surprising - the Jurassic Press ain’t reporting it.
And the Jurassic Press is in lockstep unison behind him, once again serving as the White House Steno Pool.
The press in parrot-unison hail Obama for having “saved” the auto industry.
But always somehow fail to report that we have lost (at least) $30 billion on the (mis-ad)venture....
The press in parrot-unison blithely called the Chevy Volt fire investigation closed - immediately after the Obama Administration did. An investigation which only looked at one Volt fire - involving a vehicle that had in government testing been involved in an accident.
It’s as if they have forgotten that the Obama Administration and GM covered up the Volt fire(s) for nearly six months.
It’s as if they have forgotten the two other Volt fires that took place during government testing.
It’s as if they have forgotten the two Volt fires that led to the government’s Volt investigation in the first place - involving a vehicle that wasn’t in an accident.
And it’s as if they have forgotten about a third non-accident Volt fire.
GM’s Volt fire “solution” - and the Obama Administration’s “successfully” “concluded” Volt investigation - did nothing to address these non-accident fires.
But once the Obama Administration declared the woefully incomplete Volt case closed - so too did the media.
Contrast all of this non-reporting with the Democrat-Media zeal for Government Motors-competitor Toyota's auto-acceleration "problem." Which led to millions of recalls - but turned out to be exclusively the result of operator error.
The Volt’s electric battery range was “improved” - from 35 to...38 miles. Hay-yuge increase, right?
But this “accomplishment” was accomplished only by increasing the battery size. Which means it’s not a bigger range - just a bigger battery.
Which means it takes even longer than the original 12 hours to recharge. Which means it becomes an even bigger paper weight to be dragged around by the gasoline engine once it’s (so rapidly) depleted.
And which means ostensibly an even bigger fire hazard.
That’s Government Motors’ definition of “improvement” - right in line with the Administration’s definition of “success.”
And the Jurassic Press is backing this disingenuous play on words.
Pretty all-encompassingly effusive for a non-existent improvement, no? It’s nearly endless.
There are many, many more slathering examples of this - but you get the point.
There is no Volt “improvement” - no increased battery range. You wouldn’t know it reading these headlines.
The Jurassic Press - once and yet again serving as an Obama 2012 open channel.