Barney Frank - gunning for a job at GM?
GM, as part of its restructuring plan, decided to shut down its Norton, Mass facility. I'm sure that Obama's GM task force was heavily involved in the GM restructuring plan and deciding which plants needed to be closed. These are very hard decisions to make.
But Barney Frank decides it's not in the best interest of his constituents to close the Norton plant. So he leaned on Fritz Henderson to keep that plant open.
http://www.necn.com/Boston/Business/2009/06/04/Barney-Frank-helps-delay/1244165040.html
Why is Barney Frank dictating how GM should restructure itself?
President Obama says he has no interest in running GM, but apparently Mr. Frank has other ideas. Barney Frank's spokesman says that they are "just doing what any other Congressman would do".
But it's not a level playing field. Every member of Congress will want to force their own special favors on to GM. And that's no way to get GM back to financial health. GM's restructuring decisions must be driven by economic factors, not political ones.
But Barney Frank decides it's not in the best interest of his constituents to close the Norton plant. So he leaned on Fritz Henderson to keep that plant open.
http://www.necn.com/Boston/Business/2009/06/04/Barney-Frank-helps-delay/1244165040.html
Why is Barney Frank dictating how GM should restructure itself?
President Obama says he has no interest in running GM, but apparently Mr. Frank has other ideas. Barney Frank's spokesman says that they are "just doing what any other Congressman would do".
But it's not a level playing field. Every member of Congress will want to force their own special favors on to GM. And that's no way to get GM back to financial health. GM's restructuring decisions must be driven by economic factors, not political ones.
Advertisement
"must be driven by economic factors, not political ones"
It's at least six months, if not 6yrs, too late for that!
Is MCB gunning for Hannity's job?
June 6, 2009 5:37 PM | Reply | Permalink
Frank successful in delaying the closing for 13 months, for workers it "gives us a year" to seek other opportunities. link
This is the worse malfeasance on MCB's current radar screen?
Where oh where was MCB, a torch bearer of common sense and rectitude, when Bush/Cheney were leading the country into economic meltdowns, job losses and endless unnecessary war based on lies and cooked intelligence?
June 6, 2009 8:12 PM | Reply | Permalink
Is that all you can say? That we should instead be discussing items from years ago? If you want to start your own blog on those other items, be my guest but I don't why I can't post about GM and Congress' roles in running the company. I would be happy to discuss all those other misconceptions that you raised but that's appropriate for another blog(s). (I tried to respond to your other "tax havens" and "tax cuts" points but I never got a response from you.)
This is a relevant news story, one of the biggest bankruptcies we've ever seen, and it's of note to see how politicians are getting involved to make business decisions for GM. Last time I checked, Barney Frank wasn't the appointed "Car Czar".
June 7, 2009 6:40 AM | Reply | Permalink
Since Frank is not the Tsar, you're admitting there is a level playing field in Congress, after saying it's not a level playing field.
Feel free to not reply as usual, but try to not shoot your points in their virtual feet.
Also, Frank's involvement is peanuts and peripheral here compared to the sizes of GM.
June 7, 2009 3:10 PM | Reply | Permalink