Monday, April 27, 2009

So long Pontiac.

As a long-time Pontiac owner (almost 20 years), this morning I sadly awoke to see the news - General Motors, in its infinite wisdom, has decided to kill off the Pontiac brand of cars. After the past year(s) of destroying the value of its shares, and the lives of its stockholders, employees and retirees (I know some would argue that the employees/unions contributed to the problem, but I am not going to address that for two reasons - I won't "kick 'em when they are down", and I believe overpaid management/executives to be a bigger problem), I can't say that I am surprised. I am disappointed, however.

And puzzled as well. Why Pontiac? Why not Buick (it just seems incredulous that it is more profitable to stay with Buick). Why not GMC - it's made on the same platform as Chevy trucks, or so I am told, and larger vehicles are so passe these days (e.g. too expensive to purchase, to operate, to maintain, and bad for the environment).

CEO Fritz Henderson reportedly said at a news conference today, supposedly in reference to discontinuing Pontiac: "We only want to do this once." If that's the case, Fritz, you can't kill Pontiac - because GM already did "this" once - when GM killed off Oldsmobile in 2004.

My spouse has been a long, long-time Ford fan. And, from the past year or so, I have come to agree that it's time for me to check out Fords again. Bill Ford, Executive Chairman of the Ford Motor Company, has impressed me with his television appearances. I've also been impressed by the fact that, although Ford Motor Company did not need or ask for Federal funds, the company traveled to Washington in support of its beleagured competitors. FMC has managed to more than stay afloat, and to avoid asking for government bailouts, and to keep its customers loyal and happy, all with minimal layoffs (compared to GM).

So, General Motors, as you unceremoniously kill off Pontiac and force me to say good-bye to my favorite cars, I will tell you this: Say good-bye to me as a customer. I've put up with a lot from GM over the years, but, killing off Pontiac is the last straw. When I go shopping for my next new car, GM will not be on my list. Ford Motor Company, however, if it continues on its path through this economic slump with as much integrity and grace as it already has shown, will be on the top of my list.

Wednesday, April 22, 2009

Support for term limits.

Here in Connecticut we have the quintessential evidence for term limits. Christopher Dodd was elected to the U.S. Senate in 1981. His latest term expires in 2010. While I am sure much can be said about his prior terms, it's this last term that truly make the point for term limits.

Some of the major faux pas committed by the Senator who is supposed to be representing the people of Connecticut include the following:
1) Changing his residency from Connecticut to Iowa during the course of, in my opinion, his incredibly narcissistic and pointless run for the Democratic nomination for President in 2008. Changing his residency to another state should have required his resignation as Senator from Connecticut. Connecticut needs to change its laws in this respect (and also grant its citizens the right of recall, but that is a topic for another day) so that another Senator does not pull such a disrespectful stunt.
2) The "sweetheart" mortgage rate he obtained from Countrywide at a time when others were getting no such "deals".
3) Dodd's re-election campaign accepting $162,100 from AIG employees and their spouses after he sent out an email in November, 2006 requesting support for his re-election campaign. Ultimately, Dodd accepted $238,418 from AIG employees and their spouses. "http://www.newsmax.com/insidecover/dodd_aig_contributions/2009/03/30/197552.html
4) Dodd adding a provision into legislation in February, 2009, which ultimately resulted in the allowance of $218 million in bonuses to be paid to AIG executives, after AIG had already received billions of dollars of taxpayer money from TARP. Note: AIG received another 29.8 Billion dollars of taxpayer money yesterday, April 21, 2009. http://www.businessweek.com/ap/financialnews/D97N4P580.htm

As head of the Senate Banking Committee, I have to ask, where was Senator Dodd while the financial and insurance industries were heading into a, and actually beginning to, melt-down? I know he wasn't asnwering my questions during that time.

I certainly don't understand why it consistently takes his office nine months to respond to my written concerns with a form letter that makes so little effort to address the issues raised, it's clear no one in the office truly reads what a constituent writes. By the time the nine months go by, usually no action can be taken on the issue. Perhaps that's the Senator's plan. I can say, however, that Senator Lieberman's office is very quick to respond with it's own vague and generally unresponsive form letters - usually within a matter of days.

On April 17, 2009, the News Times published a story indicating that for the first quarter of 2009, Dodd raised, $4,250 from just FIVE Connecticut residents. Dodd also accepted $604,745 from almost 400 individuals not living in Connecticut. http://www.newstimes.com/ci_12159339?IADID=Search-www.newstimes.com-www.newstimes.com To me, this simple story speaks volumes. It tells me that the people of Connecticut have withdrawn their support from the Senator; that the Senator is making little effort with the people of Connecticut; and that the Senator continues to prefer to deal with people and interests outside the state.

Needless to say, Senator Dodd has done nothing this past term to earn my vote, nor will he get it. I respectfully suggest that, if he wishes to return to the Senate, he return to Iowa and run there. Perhaps he can garner more than 60 votes there this time. http://content.usatoday.com/news/politics/election2008/results.aspx?sp=ia@oi=p&rti=e
As far as I am concerned, it's time to impose term limits on Senator Dodd.

Tuesday, April 21, 2009

April 15, 2009 Tax Day Tea Parties


As an Independent voter, I am quite baffled and bemused by the media’s attempt to label the Tax Day Tea Parties as a Republican or conservative event. I attended an event held in at the Dutchess Stadium (seats approximately 4,300 people) in Fishkill, NY. According to MidHudson News, almost 4,000 people attended. The Poughkeepsie Journal indicated that the stadium was “almost full”. http://www.poughkeepsiejournal.com/article/20090415/NEWS01/90415036 We were backed up on Interstate 84 for a couple of miles just trying to get to the event, and we had planned to arrive early. There were definitely independent voters attending, as well as Republicans, and, I believe, quite a few democrats. It was an interesting evening and program marked by a refreshing absence of name-calling and vicious personal attacks.

My purpose in attending was to protest the totally out of control spending going on right now, including the never-ending so-called “stimulus” and bailouts. These spending programs totaling trillions of dollars must be paid for. Although the President has promised a tax cut for those earning $250,000 or less per year, I believe that this is a temporary promise. These stimulus and bailout “chickens” will be coming home to roost, and all taxpayers will ultimately be called upon to pay for them with higher taxes.

Remember, politicians make promises and have no problem breaking them. In Connecticut, in 1990, as I recall, Lowell Weicker, Jr. ran for Governor and was elected, in my opinion, partially on his promise to solve the fiscal crisis in Connecticut without implementing a state income tax. However, shortly after taking office, Weicker became a staunch advocate of a state income tax, and even vetoed the General Assembly’s measure repealing the tax. Thus, today, Connecticut residents are subject to a state income tax thanks to a political candidate who, during his campaign, promised no state income tax.

The point is, at best, politicians change their minds; at worst, they tell the electorate what it wants to hear just to get into office.
Eventually, each one of us will be paying for these bailouts, stimulus and other out of control spending plans (including studies regarding pig odors) with our own hard-earned tax dollars.

My favorite photo from the Fishkill event is above. As a graduate of the same college from which Mr. Geithner graduated, I was appalled and ashamed that Mr. Geithner would appear to place the blame for his failure to properly report and pay his taxes for four years on money he earned as a consultant on Turbo Tax. I’ve used Turbo Tax for years to do my taxes, and I have had no problem reporting the income I earned as a consultant/independent contractor. Not only has Turbo Tax prompted me for such income, I had the personal responsibility to keep track of my income in order to report it and pay taxes on it.

I am not a fan of “the dog ate my homework” type of excuse for personal failure. Ultimately, it is the taxpayer's personal responsibility to keep track of his or her income, to report it accurately, and to pay taxes on it.

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Thanks for checking out my page. I've decided, after sending numerous letters to my elected representatives only to receive back form letters that, at best, only tangentially discuss my concerns, and, at worst, indicate that the elected official and/or his (all my elected federal officials are male) staff fail to even comprehend the topic at hand, that it was time to voice my opinions a bit more publicly.

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