Yesterday was an incredible day here in the United States. The government decided that the head of GM, Rick Wagner, had to go before the government would agree to give GM an additional 60 days to come up with a restructuring plan. So, after forcing one of the oldest flight departments in the US to close because Congress was pissed that the execs used business jets to come to Washington to plead their case, now the government is going to tell GM how to restructure itself.
One question - can anyone out there tell me anything that the government runs well (other than the military)? What in the name of heaven gives these people in Washington that they have the knowledge to fix these companies? But there is more, read on.
AIG, American International Group, has a subsidiary called International Lease Finance Corporation, which is one of the world's largest purchasers of airliners. The parent unit has been loaning this company millions of dollars, and yesterday the New York Federal Reserve approved yet another $ 900 million dollar loan to this aircraft leasing unit, and AIG states it will continue to do so until March of 2010 or until the unit is sold.
I don't know about you, but these are scary times. If Obama is right the economy will recover, but Big Brother will truly be here in our lives. If he is wrong, we still wind up with Big Brother but a sick economy.
It always bothers me when someone thinks they are so smart they are the only one with the answers to a problem. I don't know what a young man whose claim to fame was being a community organizer has acquired in his lifetime that gives him such great insight into business.
Until next time keep your wings straight and level Hersch!
There is an art, it says, or rather, a knack to flying.
The knack lies in learning how to throw yourself at the ground and miss.
Pick a nice day, it suggests, and try it.
The first part is easy.
All it requires is simply the ability to throw yourself forward with all your weight, and willingness not to mind that it's going to hurt.
That is, it's going to hurt if you fail to miss the ground.
Most people fail to miss the ground, and if they are really trying properly, the likelihood is that they will fail to miss it fairly hard.
Clearly, it is this second part, the missing, which presents the difficulties.
— Douglas Adams, 'The Hitch-Hikers Guide To The Galaxy,'