Tesla uses the government to “help” people buy its devices – via the $7,500 tax kickback the government offers to people who buy Tesla’s devices. How about GM using the government to “help” pay for the renovation of its buildings?
The Renaissance Center in Detroit, Michigan has been GM’s corporate HQ for decades but GM has been moving out, piecemeal, over the past several years because GM has gotten smaller over the past several decades. GM wants to demolish at least two of the iconic towers and renovate one of the remaining ones for its own use – but only if GM doesn’t have to pay for it.
GM wants the taxpayers of Michigan – state and local – to pay for it.
To the tune of about $350 million. If not, GM hints it will have the whole complex demo’d and thereby leave Detroit in much the same position New York City found itself in after the similarly iconic World Trade Center Towers were demo’d by “evildoers” who – to their credit – didn’t have the effrontery to present a bill for their services to the city of New York.
According to The Detroit Free Press:
“GM confirmed in a statement . . that full demolition is a possible alternative to its proposal to partially demolish and renovate the complex, after it faced pushback from a chorus of lawmakers opposed to helping publicly fund a plan to tear down two towers and renovate three. That plan has also drawn critics from the architectural and preservation communities, who called it shortsighted and ill-conceived.”
Italics added – to prevent the mewly verbiage from passing without parsing. It is not about “helping” GM. It is about forcing the public to “fund” the demo’ing and renovation of GM’s office complex. That is the straight truth and ought to be said so because it is so.
Of course, billion-dollar corporations using government to “help” them is nothing new – and it’s not just GM. It is the inevitable result of corporatism – the fusion of corporate and state power. There is another term for this, too. It was coined by a Leftist by the name of Mussolini – who has somehow (along with another Leftist who emulated him) become a Rightist, a truly phenomenal etymological-philosophical sleight-of-hand.
Sidebar aside, corporatism is the business of the United States now.
Corporations such as GM are “too big to fail,” so when they do the state “bails them out.” This last occurred – as regards GM – back in 2009, when GM faced bankruptcy and dissolution as a consequence of poor management.
But the natural course of things was not permitted – as it always is for small-time operations that are not big enough to become partners with the government. Probably because small-time operations are not big enough to buy themselves enough (or even any) government. Viz, in this respect, the government that was purchased by the Bidens, with money obtained via their control of the very same government! They bought enough government – probably with some of the billions they sluiced to Keeeeeeeeeeeeevvv – to pardon their own looting!
GM hasn’t got that kind of influence. But it has more than you or me. We can’t get the government to “help” us remodel the bathroom. But if you own a landmark building that’s become dated and needs a makeover . . .
There has been some pushback.
“A bipartisan coalition opposed to public funding for the RenCen redevelopment has already emerged. Incoming Republican House Speaker Matt Hall, R-Richland Township, who has changed his tune on corporate subsidies, described the idea that taxpayers would pay for the RenCen project as insulting. State Sen. Mallory McMorrow, D-Royal Oak, told the Detroit Free Press she opposes $250 million in public support. The district she represents includes part of northwest Detroit, where she said residents have pushed for investments in their neighborhoods and wouldn’t see any impact from the proposed redevelopment.”
Italics added. To point out that the little fish don’t object to the big fish feeding. They just want to be fed, too.
Everyone wants a bite. Ideally, a bigger one than the one taken out of them.
The idea that businesses ought to pay for their own buildings – and renovations – is as quaint as the idea that people ought to pay for the education and other costs associated with the raising of their own children. And it is precisely because so many people do believe that someone else ought to be made to pay for the education and other costs associated with raising their own children (and other such things they want someone else to “help” them have) that we have arrived at the point where billion-dollar corporations expect – and demand – that someone else “help” them pay for the costs of building and renovating their office spaces.
This sickness has metastasized to such a terminal stage that even hugely profitable businesses such as professional sports franchises shove their paws into the pockets of electricians and others who make an honest living to “help” pay for a new Feetsball stadium in their town.
The argument being it will bring in more “revenue” than is extracted to pay for it.
GM doesn’t much use the Renaissance Center anymore because it stopped using much of the office during the mass-psychosis event that people still stupidly refer to as “the pandemic.” GM is in the process of moving its headquarters a few blocks away from the Renaissance Center, to the Detroit Tower – which owned by a corporatist by the name of Dan Gilbert. He is worth almost $24 billion, according to Forbes – and so could “help” GM without the “help” of government.
But why do that when you have the government to “help” you?
. . .
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It’s not even the first time GM has stuck the taxpayers with the bill for a former HQ. GM moved into the Renaissance Center in the 1990’s. It left the even bigger former GM building in the New Center neighborhood behind. That HQ, built in the 1920’s, at the height of Detroit’s and GM’s growth is a beautiful building unlike the RC. It is so big they had to locate in New Center, a secondary “downtown” for Detroit, as there wasn’t a site large enough for it at the time (unlike today) downtown.
The state of Michigan got stuck with it, and made it into an office building for state employees. It’s now called Cadillac Place, and is occupied by government employees, so it will cost taxpayers big money basically forever now. Guessing the Renaissance Center will someday house more government “employees” too. Either that it or it will be an empty lot or an abandoned building. Three lousy “choices”.
There is no demand for office space in Detroit and nobody should be building one inch of new space IMHO. Ford should have never built the RC to begin with.
GM Led in China for Years. Here’s How It Ended Up 16th in Sales.
‘In China, for a quarter-century GM drew enormous profits and vied with Germany’s Volkswagen as the top seller of cars. Those days are over.
‘GM’s sales in China have entered a death spiral, falling 42.5 percent in the first 11 months of this year. The company now ranks 16th by sales. The dizzying collapse of its China business forced GM to take a roughly $5 billion charge against profits this month.
‘GM’s early China executives were highly responsive to the unique characteristics of the market. They built bulky minivans for state-owned companies that were big customers. They sold Buicks, a faded brand in the United States that still had cachet in China. For rural farmers, GM offered vans and pickup trucks with flimsy seats and no air-conditioning that cost only $5,000.
‘Government policies that forced GM into joint ventures with Chinese companies meant that GM ended up teaching much of what it knew about car manufacturing to local rivals that now outsell it.
‘Today, Chinese automakers dominate their home market. SAIC, GM’s longtime partner, is among the most successful. Private Chinese companies emerging from the cellphone industry — like BYD, Xiaomi and Huawei — pose even more formidable competition.’ — NYT
https://archive.ph/zsF7L#selection-1569.0-1581.41
Competing with the cellphone industry to make cellphones on wheels — welcome to dystopia with Chinese characteristics!
It’s Christmas (Chaos), All Over, Again
BY QUOTH THE RAVEN……..
Today gave me an immediate flashback to the week before Christmas in December 2018. Those who have been reading my blog for a long time know that I have harped endlessly on the fact that market crashes don’t usually occur until the Fed actually starts cutting rates. From September:
This situation is not unlike the one we have with the stock market and the economy now. In addition to the American consumer being tapped out, I’ve pointed out multiple times that the stock market has a history of finally cracking and giving way after cuts begin. In essence, cuts finally happening could wind up being the biggest “sell the news” event in recent memory.
In countless posts here, I have used 2018 as an example. When the market started to drop precipitously at the end of 2018, just days before Christmas, the Fed sped up rate cuts and blew more air back into a bubble that would continue up until today…….
Now 6 years later….down she goes….
https://www.zerohedge.com/news/2024-12-18/its-christmas-chaos-all-over-again
The bubble has been pricked. But ‘they’ are already pumping it up again.
Well, I sat down to listen to the shoeshine boy
And I thought I was gonna jump for joy
Slapped on the shoe polish left and right
He bought Nvidia calls and he held ’em tight
He stopped once to wipe the sweat away
I said, you’re a mighty little boy to be a-bettin’ that way
He said, “I like it” with a big wide grin
Kept on a-poppin’ and then he pop it again
— Johnny Cash, Get Rhythm
Everthing is down…but…what is up?….
VIX…. 14.10 dec 13….dec 19th….21.65…up 53%….
https://finviz.com/futures_charts.ashx?p=d&t=VX
Funny Ren-Cen story
Ren-Cen used to (early 90s) have a nice rotating restaurant on top and a hotel. Was a nice place to watch 4th July fireworks / have a night out.
But . . . Never leave the building . . . Them’s the rules of Detroit at night especially back in the 90s when car jacking was all the rage.
So it’s about 1am and wife and I were sort of lost in the building (alcohol may have played a role) and wandering about.
We go through a set of double doors and basically find ourselves somewhere out side in back of building near street level. Looks absolutely deserted. Just as I realize the mistake, the doors click closed behind us.
In a split second, I had already made the decision that I would kick in the glass to reenter the building if need be vs walking a long, long way around the block on the street.
As fate would have it, the doors were unlocked and allowed re-entry.
Crazy how the brain works like that.
So I do have sort of fond memories of Ren-Cen but in no way support taxpayers funding the joint.
Rob the People??? Seems Familiar….
Hmm, Moneybags Dan Gilbert gonna help???
Huh…. Hey, Wikipedia, early life section…
ah yes, there it is…”Gilbert was born to a jewish family in Detroit…”
Every…
Single…
Time…
So tired of companies, sports teams, etc threatening to move away or not come if they don’t get tax breaks or other peoples’ money.
Bulldoze all three of them. Right now the Ren Cen is made up of a total of 10K employees, with 6K being GM employees. They want a $350 million renovation for 6000 people!?!? That is over $58K per employee of taxpayer dollars to house these people. Does the city and taxpayers get the money back if GM turns around the sells the building three years later? Is the correct answer when pigs fly?
How much in real estate and property taxes does GM pay to Detroit annually? It took a bit of digging and I am not 100% correct, but the guessimate is around $11 million.
GM wants $350 million. Okay, now let’s say Detroit (and Michigan) are stupid and decide to give this $350,000,000 to them. The property now jumps to $850 million of value compared to $500 million in value with a tax rate of 2.16% that is now $18.36 million in tax dollars. So for an extra $350 M the city gets 7 million more in revenue annually. It would take 50 years to just break even. Does anyone think GM will own this building and even be a corporation come 50 years? I am not holding my breath.
Ask Mary if she is willing to give GM a loan for the renovation. I am sure they are good for it.
RG – good guesstimate / napkin analysis
You can be sure Detroit city council cannot do basic maff. Percentages not even in the realm of possibility.
On a side note: it always drives me crazy when in a store and I overhear something to the effect of what’s 15% off of $40 or even worse, what’s 10% of $40 and out comes the phone.
And people wonder why I’m cranky. LOL.
Silverstien to the rescue. With inflation the lizard could bank 10za billion on bogus settlements.
Just get “Lucky” Larry Silverstein to “pull” the RenCen buildings just like what was done with the WTC on 9-11.
Silverstein pulled off the largest successful “jewish lightning” caper in world history.
If you think that “Arabs with box-cutters” brought down the WTC, I have a bridge to sell you…
‘Update (1335 ET): Now things are getting interesting – as House Speaker Mike Johnson (R-LA) is reportedly discussing a ‘Plan B’ to fund the government as a ‘clean’ Continuing Resolution (CR) without $100 billion disaster aid and a shitshow of swampy handouts and government overreach, Politico reports.’ — ZeroHedge
BWA HA HA HA. Let it bleed. Repugniclown donnybrook.
Carpe diem: slug a RINO in the mouth … just to watch them scrabble on all fours along the sidewalk, picking up pieces of their broken teeth. 🙂
‘CALL THEIR BLUFF’: Trump And Vance Slam Pork-Filled Bill, Tell GOP To Stand Their Ground
https://www.zerohedge.com/political/pork-city-johnson-tries-ram-through-insane-funding-package
A 29% raise! These people are psychopaths. They have done nothing for this country except waste our tax dollars. They have put the country teetering toward bankruptcy and these bastards think they deserve a hike in salary.
I vote for shutting the whole damn thing down. We have already proved the country doesn’t need a President, we don’t need a Congress either. That alone would save us billions a year.
Amen, RG!
Here’s truth: If DC were to literally disappear tomorrow – leaving a crater where it was – the lot of most people in this country would be immediately improved.
Betcha there will be extra funding for israel…
The RenCen sits on what used to be the waterfront terminus of the Grand Trunk Western Railroad, which still had daily passenger service from the suburbs to downtown Detroit in 1970.
But Detroit had been mortally wounded in the ’67 riots, and even as a kid, I could sense that the forthcoming RenCen was only going to be a tuxedo on a corpse. I left the Rust Belt in ’81 and never returned.
Just as I watched my parents mourn over what became of Detroit, the fabulous city they grew up in during the 40s and 50s, so I mourn over what’s become of the greatest country in the world. I ache for my kids and grandkids, since aside of Divine Intervention, they’ll probably never experience the incredible freedom, opportunity and abundance that I was blessed with, and taught to appreciate as a kid.
‘Detroit had been mortally wounded in the ’67 riots’ — MrBill
As was Newark, and other Rustbelt cities, in a coordinated phenomenon that Congressional ‘investigations’ never managed to explain. Imagine my shocked face.
Alexander Portnoy recalled the Before Time:
Ikey, Mikey, Jake and Sam
We’re the boys who eat no ham
We play football, we play soccer—
And we keep matzohs in our locker!
Aye, aye, aye, Weequahic High!
— Philip Roth, Portnoy’s Complaint (1969)
Detroit is dying a slow death. The population back in 1950 was about 1.8 million and now Itz about 620,000 and dropping. The people who pay taxes started leaving in 1967 after a series of unfortunate events. The vibrant population who cannot run and support a first world civilization are left. There are people trying to resuscitate the dying corpse but itz going to require a miracle and some brainwashing propaganda of the tax payers.
This business of supporting and giving tax payers money to support private industry and sports has got to stop.
That population figure for Detroit can’t be correct. More voted in the last several general elections.
Amen.
A couple of those “unfortunate events” that may have been instrumental in causing the death spiral:
• Detroit’s leaders failed to shrink the city budget after the WW2 defense contract gravy train ended. Instead, they kept on spending, then imposed the city’s first income tax in ’62. Industry responded by closing factories and offices south of 8 Mile Road and opening new ones in the burbs … or out of state completely. Employees followed.
• Decades of (black) migration into Detroit from the South led to a lot of problems: housing shortages, overcrowding, plus the usual problems you get at the margins when culturally dissimilar groups get mashed together, and the cops don’t belong to one particular group. That powder keg finally detonated in ’67. The War on Poverty destroyed the intact families and any work ethic they might’ve had.
Maybe Detroit could be saved if it became a tax-free, duty-free, regulatory-free and government-benefit-free zone for 100 years. See what happens.
As Eric alluded to this grift is following the major league sports model of demanding a new stadium or the team will pack up and leave, taking all thise great minimum wage jobs of working a concession stand with them. Even the cities that cave and build stadiums find that in about ten years the team will leave anyway for a shinier new stadium paid for by taxpayers somewhere else. It’s great to be a billionaire team owner and get other people to pay for your stuff while raking in the dough from ticket sales and broadcast fees.
‘the major league sports model of demanding a new stadium or the team will pack up and leave’ — Mike in Boston
‘The [continuing resolution] could have easily been under 20 pages. Instead, there are dozens of unrelated policy items crammed into its 1,547 pages. There’s no legitimate reason for them to be voted on as a package deal by a lame-duck Congress.
’72 pages worth of “Pandemic Preparedness and Response” policy; renewal of the much-criticized “Global Engagement Center,” a key player in the federal censorship state; 17 different pieces of Commerce legislation; paving the way for a new football stadium in D.C.; a pay raise for Congressmen & Senators and making them eligible for Federal Employee Health Benefits. It’s indefensible to ram these measures through at the last second without debate.’ — Vivek R
Screw football stadia. I want public-funded colosseums, featuring monthly spectacles of Congress Clowns fed to hungry lions, as we gleefully cast lots on how many minutes it takes for them to be dismembered and devoured. Bring it, Lord!
Now why would you do that to the noble lion? Simply give them each a rusty blade or a club and allow them to fight to the death. Are you not entertained?
“major league sports model of demanding a new stadium or the team will pack up and leave”
The local professional football and baseball teams are always threatening to leave unless the tax payers give them more money. These teams are nothing but mercenaries who will play for the highest paycheck. Nothing wrong with making money but it shouldn’t be tax payer money.
They owners and managers understand herd mentality psychology and are exploiting our human instincts to enrich themselves and so many naive people fall for their BS.
The sports ball teams should just let themselves be acquired by the online gambling companies. Online bookies seem to be the only ones making money on sports these days. Or at least they’re capitalized well enough by Sand Hill road to keep the plates spinning.
Hi Euro!
Yup. I have never understood the fervor of sportsball fans. I can see watching a game every now and then. What I don’t get is the emotional investment many fans have in what they refer to as “their” team. As if they were a part of that team, somehow. Also – and this is just me – I have zero interest in discussing “the game” with other men, as so many men seem to love to do. Who cares? It’s literally just a game. The outcome means nothing to me because why would it?
I’d much rather talk about something that at least involves my life or might have some relevance to it or the lives of the people I’m close to.
PS: Mail received – thank you!
We are in agreement. Thank you!
I’ve been criticizing grown men for supporting professional “sports” for more than a few decades. I never watched that garbage…
Not only the “National Felon League” and the “National Basketball Association” but even that bastion of truly professional skills, NASCAR has been infected with “woke” ideology. When (((they))) banned the “Stars and Bars” flag, a part of their history, NASCAR sealed its fate.
Let’s not forget the billions spent by grown male “sports fans” on sports ball jerseys, caps and other “trinkets”, overpriced game tickets and taxpayer-subsidized stadiums (playpens), all to benefit the (((owners))) of the criminal, steroid-addled costumed players who are paid millions of dollars to play children’s games.
“Bread and circuses” which are provided to “quell the masses” are just as successful now as they were in ancient times…
It is disgusting to see grown men spout off useless and meaningless sports statistics and the adulation that they give these costumed players (actors) while not giving a damn about the direction this country is taking. It is just sickening to see grown men debase themselves with that mind-numbing garbage.
I realize that sports ball is “entertainment for the masses” and do look down derisively on grown men who sport their favorite sports ball players clothing or other accouterments.
I think to myself: “don’t you have anything better to do?”
There are much better things for grown men to do than watch sports ball sports.
Build something…repair something…study philosophy or technical journals on something that interests you, make something better, improve yourself and your standard of living and devices…use your wisdom and knowledge to get your fellow men to THINK for themselves, not what to think, but HOW to think and to not just accept the pablum, lies and falsehoods of the mainstream media and useless professional sports.
Message to grown men: Get away from the sports ball. You are much better than that…
That’s the current state of these USA. Everybody expects to live at the expense of others. It creates such a corrosive economic environment. Becoming wealthy becomes less a matter creating value, and more of just stealing more from everybody else than that which is stolen from you.
Another straw in the wind for makers of motorized and electrified transportation devices:
‘Industrial conglomerate Textron has halted production of its entire powersports product line, which includes golf carts, utility vehicles, side-by-sides, ATVs, and snowmobiles.
‘Textron cited “soft” consumer end-market powersports demand, a warning that overlaps with Polaris’s concerns about “challenging retail demand” for its ATVs, UTVs, and jet skis.
‘Sliding consumer demand for ATVs, UTVs, and snowmobiles has forced Textron to pause powersports production “indefinitely in the first half of 2025.” ‘ — ZeroHedge
Here is where the consumer discretionary sector finds itself today:
https://ibb.co/FVBQKRW
Tariffs can’t fix this. We’re goin’ down. :-0
I see guys toting $30K side-by-sides all the time. And their $50K bass boats. And $100K campers. And $20K jet ski.
I personally think that stuff is a waste of money, but it’s their decision. Then again I daydream about a $10K solar telescope with a $2500 mount.
The market is softening of course, mostly due to interest rates disfavoring taking on so much nonsensical debt. But it’s also a statement on Textron mismanagement of the brands. Other manufacturers have experienced some increase in sales because Arctic Cat and the other brands Textron bought are being driven into the ground with poor quality and uninteresting models, not unlike what GM and Stellaris are doing with their brands.
It is going to help GM if the United States of America, its government, donates 10 billion dollars to improve GM’s image.
Zelensky has done exactly what for you? Bueller?
Billions for war and more war and even some more after that!
Bibi collects 200 billion every year, another collectivist doing it like every collectivist will do. Bibi wouldn’t lift a finger for you, he’d rather shoot you.
Give GM 200 billion and tell Bibi to go to hell, where he is anyway, but tell him again to remind him just how it really is for him.
Beer time!
All of the time!
All those billions to Ukraine help the military contractors, so just as economically “helpful” to the USA as GM, maybe more since GM builds vehicles with more and more imported parts anyway. The sale of a GM car probably helps Mexico and China more than the USA. At least Raytheon and others have minimum domestic supplier rules such that they have to get a waiver to buy an imported component when there’s literally no domestic option. The argument that we’re building stuff that only destroys vs automobiles that allow average people to live better is an important one, though.
Which is all well and good, always. All wars are to make money, not that cool.
I can’t appreciate someone like Bibi taking advantage of Americans from coast to coast.
The subhuman animal is abusing the entire extant human population. Fuck him.
That is not how you fucking do it!
Here’s another aggravating thing coming to cars in the future – I’d link to my local paper but unless you have a subscription you won’t be able to access it. Anyway, its just a blurb, here is the quote:
US requiring alarm on seat belts in rear
DETROIT — Starting in September 2027, all new passenger vehicles in the U.S. will have to sound a warning if rear-seat passengers don’t buckle up.
The National Highway Traffic Safety Administration said Monday that it finalized the rule, which also requires enhanced warnings when front seat belts aren’t fastened.
In a statement, the agency estimated the new rule will save 50 lives per year and prevent 500 injuries when fully in effect.
The new rule will apply to passenger cars, trucks, buses except for school buses, and multipurpose vehicles weighing up to 10,000 pounds.
The rule also lengthens the duration of audio and visual warnings for the driver’s seat. — Associated Press
“ the agency estimated the new rule will save 50 lives per year and prevent 500 injuries when fully in effect.”. And they know that how? Gotta love how these agencies just pull these random numbers out of their ass ; do they use one of those lottery machines that spits out random numbered ping pong balls? Might as well, be just as (in)accurate.
If they predict that 50 lives will be saved per year, and that outcome does not in fact obtain, does the rule go away?
No?
Well then 🖕
How will that work if the rear seats are removable, like in minivans?
If I was a betting man, I’d say theres a better than average chance that the newest Porkulus CR contains copious amounts of cash to ‘help’ GM. Cant expect RePubes to stand up against the corporatists. Thats like opposing baseball, hotdogs, apple pie, and Chevrolet. Plus Rs are chicken shit cowards to boot.
My accountant recently told me that our LLC needs to lease a car next year. If thats the case then I’ll go with a Subaru, or Toyota. Fuck GM, Fuck Ford, may they die screaming.
‘Rs are chicken shit cowards to boot. My accountant recently told me …’ — Norman Franklin
Mend not end: the CR delays implementation of a “beneficial ownership” database meant to curb money laundering until 2026.
Repukes could have ditched this FinCen overreach. But no-o-o-o-o-o-o — they just kicked the can for a couple of years. It’s Obamacare deja vu.
Sen. Rand Paul (R-KY) said he had “hoped to see @SpeakerJohnson grow a spine,” but “this bill full of pork shows he is a weak, weak man.”
At least our AZ-2 Freedom Caucus rep Eli Crane will vote against this poisonous, evil horseshit.
Heres hoping we can convince Eli to run for Governor and oust that yeasty shill who is currently soiling the highest office in our once formerly great state
With her shrill pipes, Katie can get a new job doing voiceovers for talking Barbie dolls. She sounds like a 15-year-old.
Yeasty shill? I assume that’s somewhat like a moistened bint? Bravo!
It seems that too many Republicans are “milquetoasts”, afraid of showing “the courage of their convictions” (if any) and are just plain lazy.
You see, whether their party is in power or is the minority, “the pay and perks” of the office are the same. Why get into real “rough and tumble politics” when you can “kick back” and still enjoy the perks of office?
Even when the Republicans held both legislative bodies, they “laid back” and let the democRATS run all over them.
This is the “new and improved” corporate business model. See how much money stolen from tax “payers” you can get from the “benevolent” tax collectors. The collectors won’t mind. It gives them an excuse to steal more, and put part of that in their pocket.
Downtown redevelopment of these towers-$850-$1,000 per square foot minimum (construction costs only) for a cube farm excluding the expense implosion demo and remediation of the existing structures. Then add the non-functioning 10-year or greater payback green (LEED) features they all insist upon. All at the taxpayer’s dime? Maybe GM should pay for this themselves based on them rolling in profits…harrumph. Mary is better at picking curtain colors than building cars, she has got to go or so will GM.
What happened to the Chevy’s that were built to the Bob Seger song “Like a Rock”.
There it is . . . Yet another reason to hate GM.
Never forget that this is an institution that demolished bankruptcy law by providing relief to non-secured stakeholders over secured creditors via government intervention during their last bankruptcy.
And we are supposed to be surprised that they learned that grifting is a viable business model.
Turmoil in the Clowngov:
‘Congressional “leaders” [sic] have struck a 1,500-page bipartisan deal to keep the government funded beyond a looming Dec. 20 shutdown deadline. It includes 500 pages of “health care” [sic] provisions.
‘House Speaker Johnson said the goal was for “a very simple, very clean” [sic, LOL] stopgap funding plan “to get us into next year when we have a unified government.” But he added that “acts of God,” such as hurricanes, required disaster aid and other additions to the package.
‘Rep. Marjorie Taylor Greene (R-Ga.) complained it was akin to a year-end omnibus, which conservatives abhor. And Rep. Eric Burlison (R-Mo.), a member of the conservative House Freedom Caucus, called it “a total dumpster fire.”’
https://thehill.com/business/budget/5040567-government-funding-deal-shutdown-deadline/
This is what the death throes of a dying empire look like — 1,500 pages of turgid boilerplate to keep the giant, flailing fedgov stumbling along for a dozen more weeks. #FAIL #BOZOS #COPROPHAGIA
Helping Obamacare: the simple mechanism at the heart of the Uniparty. Its pawl clicks into place on January 3rd:
https://ibb.co/DD8bQvb
The Scamdemic caused Allstate Insurance to stop using their large office campus in (metro Chicago) Northbrook, IL and they SOLD it in 2021.
What a novel concept!!!
Instead of forcing the state to buy or renovate it, they simply sold it on the open market.
Based on what’s likely to happen in MI, sounds like IL taxpayers dodged a bullet on that one.
The “iconic” Michigan Central Station was recently reopened after a $1 billion restoration, and from what I can gather Ford paid for it without government money:
https://michigancentral.com/a-new-beginning-ford-to-reopen-michigan-central-station-after-multi-year-historic-restoration/
The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ – Revelation 18 v9-10
This is why monopoly (or duopoly or triopoly) is so bad. They were so busy trying to please themselves they forgot what they were there to do: Sell cars. There’s only so much DEI a corporation can tolerate before it runs out of money.
“Where was I going to go? Detroit?” – Saddam Hussein on arrival in hell after Satan kills him
And what about Detroit? For much of my life Detroit was a mess, continuing to hold on to the idea that some new thing will just spontaneously revitalize the area. That’s how the Ren-Cen was built to begin with. Whatever was the flavor of the day had the Detroit chamber of commerce, city hall and all those endless committees for economic development shouting ME TOO! Thing is, no one wants to live there, and no one wants to build anything there. Because as soon as someone buys a piece of property they have to start paying taxes. And maybe they have to settle up all the back taxes owed too. Anyone with a tax attorney will be advised to stay very far away from the Motor City.
And why would you want to build there? Shipping? The Great Lakes are only open in the summertime. So you’re shipping by rail. Except that truck transportation is more flexible and the roads go everywhere. Or if it’s small objects you’re making, just fly ’em.
“The Great Lakes are only open in the summertime.”
Say what?
As per federal orders, normally the Soo Locks close on January 15 and re-open March 25 every year. During this time maintenance is performed on the chambers. Although there are occasional exceptions, such as ice, these two dates are pillars for shipping season in the Great Lakes.
The St. Lawrence Seaway usually matches the Soo Locks
The only reason that the city of Detroit should pay to renovate the buildings is if they own them. Perhaps gm should give them to the city or stop paying their property taxes on said buildings and let the city seize them. That way the city can waste their own money on their own property.
Well, that’s the big fear isn’t it? Jingle mail to the city, defaulting on the taxes. What are they going to do with all that office space? Open up the ultimate laser tag course?
Hi RK:
Based on a course offered on YouTube by the Economic Ninja the standard procedure is to sell the tax lien at public auction. The winning bidder then pays the amount owing plus fees. If after a set time period the defaulting party has not paid back the money plus interest the property would default to the individual holding the lien (a bunch of paperwork is involved to do this though).
I can’t remember what other factors play into it but that’s the gist of it. On his channel he mentioned people having their property’s seized for $50.00 owing.
If all else fails it winds up looking like the old Packard plant in Detroit and we can watch people on YouTube wander through the abandoned property.
RK, the ultimate Laser Tag in that building would be more economically sensible than selling 100k pickups for the school run or 40k battery powered city that will get you as far as a horse in a day…..Its also a better use case for batteries… Maybe you should contact Mary with the idea…
Why in the hell should we taxpayers “help” GM any more? We “helped” them out to the tune of 50 billion dollars back in 2009, and the company never paid us back. Are they going to “help” the consumer with a worthless device when someone’s EV gets them stuck in BFE in the Winter, or when someone is on a road trip miles from the next charging station that may or may not work? Yeah, I did not think so. But, taxpayers always were the endless cookie jar for the greedy.
‘Corporatism is the business of the United States now.’ — eric
Indeed. ‘Health care’ [sic] and ‘defense’ [sic] both occupy outsized shares of the US eclownomy, impoverishing citizens with the vast scale of their grift.
A smaller sector, regularly subjected to ritual flogging by Eric, is ‘insurance’ [sic]. Here’s a New York Slimes headline today on that subject:
Insurers Are Deserting Homeowners as Climate Shocks [sic] Worsen
‘Without insurance, it’s impossible to get a mortgage; without a mortgage, most Americans can’t buy a home.’
Looks like the engine of corporatism is starting to wheeze and cough. All is not well, comrades, despite Orange Exuberance. Even in Japan — corporatist to its very core — auto makers are struggling. Another NYT headline today:
Honda and Nissan Are in Talks to Deepen Ties and Possibly Merge
Stenographers couldn’t find any facts to append beyond the headline, so it’s not worth linking. But yes, Nissan needs a bailout, sooner rather than later.
[‘Without insurance, it’s impossible to get a mortgage; without a mortgage, most Americans can’t buy a home.]
Uncontrolled financing. Financing people that cannot afford even the financing.
Financing saves the economy when people can no longer earn a decent salary but can earn enough to make payments forever. Financing creates slaves. Financing causes price inflation. “How about we just put the insurance payment in with your mortgage” or “We can add a couple thousand if they’re financing”
It’s so bad now one cannot get a cut when paying cash. The last motorcycle I purchased,,, a Harley ,,, the dealer would not take cash…. only financing. Then I got rooked when paying it off because of a “Early Payoff Clause”.
Today most are ball and chained to these credit bureaus. Can’t even rent a damn garage without them wanting to check your credit. And:::::
Having no credit background is worse then bad credit for not paying your bills. I had to accept a credit card in order to have a “credit history” THEN if you pay it off every month you are considered a deadbeat. Can’t win!
Nope,,, this nation is going DOWN like every indebted nation before in all of history. Not one,,, Not some but All! Every nation/empire has fallen due to debt and the destruction of their currency. We will be no different.
What we have today is called corporatism. Corporatism occurs just prior to Fascism. (Today’s re-definition) When WW3 officially begins (Iran likely under Trump the patsy to Israhell) we will then advance to fascism.
IMO nothing can change this course. Soon people will be talking about the American empire like we talk about the Ottoman empire.
Government always (ALWAYS) attracts the worse among us.
Ironically, RenCen was developed by …. FORD. GM only bought it in 1996. Now it’s a white elephant on their hands. But wait, there’s more:
The Renaissance Center (RenCen) in Detroit, Michigan has asbestos-contaminated fireproofing and HVAC ductwork insulation that will need to be abated before any renovation or demolition:
Fireproofing
The fireproofing used in the RenCen was called “Monokote” and contained vermiculite from Libby, Montana, which is known to contain amphibole asbestos.
HVAC
The HVAC piping and ductwork insulation in the RenCen from the 1970s when the building was completed also contains asbestos. — AI summary
Well, durn. Looks like GM’s got a World Trade Center situation on its hands. Better call Saul — errrr, Larry Silverstein. He’ll take care of that mess in a jiffy. 😉
Sadly, that’s probably the prime reason why they’re actually ballsy enough to ask government for “help” burning down their HQ, because of the asbestos. Someone probably figured out that maintaining all that empty office space costs money, proposed destroying it. Then in the course of some meetings were presented with “Yep, you’ve got asbestos” test results. Then on page 6 of the Powerpoint the contractor showed all the federal dollars available for mitigation. This got them thinking out of the box and several mid-level MBA types, looking to climb, came up with the harebrained scheme to get the feds to cover the cost of everything.
But why not? Everyone else is grabbing what they can…
Hey government! My marriage failed! I need you to pay for the divorce attorneys… oh and child support too! thanks.
https://www.youtube.com/watch?v=rnE5zvosplc
To think people in the West believe feudalism ended in the 15th century…
Sadly this trend will end up as tragic as that of Il Douche Bag. What will replace it may not be any better, however. Which Asian nation, Russia, China, India, be the one that emerges as the business model for the future? I don’t see any of them (except, perhaps, Russia) offering anything like a free market model.
Can anything remotely like an Austrian economic model be achieved? With the entire planet seemingly built upon envy it is doubtful. Envy, the original “Green” movement.
From the outside looking in, I think Switzerland is at least a little closer to the Austrian model than pretty much anywhere else. Certainly not perfect, but seems like they’re more about free markets than most countries.
April 19, 1999: ‘Swiss voters approved a new Constitution today that eliminates the traditional requirement for the country’s currency to be backed by gold.
‘Some 59 percent of voters casting ballots, 969,400 people, approved the new document.’ — NYT
https://archive.ph/ajO54#selection-245.0-253.85
If I recall correctly, gold backing of the swiss franc was down to 40 percent before the
Cidreköpfevoters ditched it entirely.Within a few years, the Swiss National Bank was backing the franc with shares of Apple, Microsoft, and Amazon. Not a joke.