Paul Ryan was accurate in fact, regarding the Janesville, Wisconsin GM plant, Mitt Romney's team better back him up 100%.
First to the historical facts, footnotes omitted:
“On February 13, 2008, Democratic Presidential Candidate Barack Obama stated, "This can be America’s future. I know that General Motors received some bad news yesterday, and I know how hard your Governor has fought to keep jobs in this plant. But I also know how much progress you’ve made – how many hybrids and fuel-efficient vehicles you’re churning out. And I believe that if our government is there to support you, and give you the assistance you need to re-tool and make this transition, that this plant will be here for another hundred years. The question is not whether a clean energy economy is in our future, it’s where it will thrive. I want it to thrive right here in the United States of America; right here in Wisconsin; and that’s the future I’ll fight for as your President."
“Fuel prices, the related slow sales of SUVs, and the economy affected the Janesville plant. In April 2008, GM announced that the plant would cut back full-time production to a single shift. Combined with an ongoing employee buy-out program, layoffs totaled around 750 jobs in July 2008.
“During GM's 2008 annual shareholder meeting on June 3, 2008, CEO Rick Wagoner announced that the Janesville assembly plant would close by 2010, along with three other GM factories, and could close sooner if the market dictated. The cutbacks announced, along with other changes, were expected to save the North American division $1 billion per year starting in 2010.
“GM extended its annual summer shutdown an additional two weeks and planned another ten weeks of shutdown for the remainder of 2008 because of excess inventories of SUVs made at the plant....
“...In October 2008, GM announced Janesville Assembly would be largely idled December 23, 2008 when production of SUVs would end. On December 23, workers gathered at a ceremony to take photos with a banner reading "Last Vehicle off the Janesville Assembly Line". The last vehicle was sold in a raffle benefiting the United Way.” (see, Janesville GM Assembly Plant, http://en.wikipedia.org/wiki/Janesville_GM_Assembly_Plant)
A few points must be highlighted:
First, it is a reality that GM banked on SUV sales and therefore had larger than expected inventories. Once the 2007 recession hit, the company saw the Janesville plant as a means to save money.
Second, George Bush took part of the bank bailout funds and committed them to the auto bailout, http://www.politico.com/news/stories/1208/16740.html. Please make note of this as this article progresses.
Now to the basic hypothesis, that Barack Obama knew the plant was in trouble in 2008. I submit that GM's lobbyists for corporate welfare were already asking the government for aid and assistance even before the 2007 recession, and that this is how Senator Obama, running for President in 2008, already knew the plant was in trouble. Our Senators would tell the lobbyists that the company had to make some significant changes to make sure that the giving of money to a corporation like GM didn't have a negative political backlash, Janesville just a piece in the “staging” of GM's corporate welfare push. This is just the beginning of this story too, and believe me I am doing all I can to keep this short as possible.
Let's make sure everyone knows the actual date the Janesville, Wisconsin GM Plant was closed, April 23rd 2009. Yeah, Obama was already President of the United States, and the $787 billion “stimulus” already allocated elsewhere, as well as George Bush's 17 billion to GM gone, by the time the Janesville GM plant was closed. Now remember what Obama said to those employees, “...The question is not whether a clean energy economy is in our future, it’s where it will thrive. I want it to thrive right here in the United States of America; right here in Wisconsin; and that’s the future I’ll fight for as your President.”
Clearly President Obama lost that “fight” if there was one at all, which at this point in time I doubt because GM still owns the plant. Must have been a real brawler to hand GM all this money, and use the U.S. Treasury to make risky stock investments that can't be paid back until this stock is $55 per share.
No, wait, it wasn't a brawler at all.
According to Wikipedia, GM filed for bankruptcy June 1, 2009. On July 10, 2009 a new company emerges out of New York, not Detroit, “NGMCO.” General Motors Website has it a bit different, claiming the judge approved the sale on July 5, 2009.
Remember: GM still owns Janesville. What I mean is that they have an idle plant, of 4.8 million square feet on 250 acres just sitting there doing nothing for the last 3 years, while taking money from the American people. See, if I were a home owner today that didn't pay the bank for the $200k loan that I had on my house, well I'd be told by the IRS that the 200k is income for the year I defaulted, and then they would be wanting the taxes paid on that 200k of income. How is it this doesn't apply to GM? Sure, there is no mortgage paperwork directly in hand for the plant, but GM was given money from us while they hold properties dormant that can be sold?
Please, think about this carefully. GM has Janesville “decommissioned,” a sort of “rainy day fund” for General Motors if they ever become successful again. Now ask yourself what rainy day fund you have, has it reached its pre-2007 height? And if you don't have one, ask very carefully why Obama and his people helped save GM knowing that this plant was not an operational facility, that the asset was given over to “NGMCO” out of New York (Now “General Motors Company”) without being an open and working facility, just a dormant 250 acres of land. Now ask yourself if GM has more of these, as it likely does, worldwide for that matter.
Now this takes us to the real reason for the GM fraud committed on the taxpayers to bail it out, that it wasn't about General Motors at all, but the giving away of some of the company to the unions who helped Obama get elected, same GM article as above as it shows the stock ownership breakdown.
And let us be clear that even the local union doesn't see the plant re-opening ever again.
Suffice it to say that the Janesville GM Plant was officially closed on April 23 2009, and decommissioned thereafter. What is further evident is that President Obama did nothing to make sure the employees he spoke to in February of 2008 still had their jobs. President Obama did nothing to make sure that a fraud was not perpetrated on the bankruptcy court in the transfer of the Janesville GM Plant to the “New GM.”
This article before you is to illustrate that “Chicago style” fraud is the synonym to “Change we can believe in,” and “Forward” a term to illustrate ignoring the past and all its wrongs, hoping the American People don't mind being the ones taken advantage of. Obama's recent rant against “tax-cuts” makes this obvious.
Obama's DNC speech further admitted this failure to see the U.S. Treasury as the American people's money, or to act in a manner consistent with the fiduciary role of government in spending that money wisely (let us not forget the illegal loan subordination to the shareholders of Solyndra, either). No, instead President Obama assumes a right of continuing to spend borrowed money on the ever-expanding social programs that we can only afford by more borrowing as it is. This is Obama's future platform and it is solely because the American People forget it is our taxes that constitute the U.S. Treasury and pay the debts our “leaders” get us into. Today, more than ever before, we're being placed in bondage to our creditors with every dollar the government borrows. And what must be said is that Tax-Cuts are necessary for the simple fact they are a recognition of the 4th and 5th Amendments to the Constitution, government's lessening grip on the American People's private property.
So please cease from voting for President Liar, President Corporate-Welfare, President Sell-Out, President Enslavement-Of-Every-American and stay the hell home if you can't vote for Mitt Romney, for you, your children and grandchildren do not deserve slavery to our creditors just because we have a President who can't comprehend that money borrowed for war is to no longer be spent after the war is over, and that bloated social programs need streamlining, or spending on them is just throwing good money after bad.
If you can't comprehend this, please be a good Progressive and see a therapist for treatment for narcissism, for that's the ailment that would make the current generation not care at all for the generations of the future.
Thank you for reading,
P.S. Anyone blaming Bush for the 2007 recession needs to comprehend that union leaders wanted Obama in so badly they destroyed America's economy through artificially inflating fuel prices, the unions taking on the role as speculators buying the oil futures and chasing the price to $150 a barrel, which shows that union leaders have no allegiance to America, save to destroy it, hsgac.senate.gov/public/_files/052008Masters.pdf.