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Old November 2nd, 2009, 06:53 PM   #1
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Default So, Exactly WHY Do I Hate Obama?

I have three very specific reasons. None of these were part of his campaign, although they're all fully consistent with what I said he was at that time.

Reason One: GM Bondholders
Disclaimer: I am a holder of GM unsubordinated bonds. What that means is I (and 1000s of others) lent money to GM with the understanding that we'd be repaid, with interest. The whole "unsubordinated" thing means that in exchange for a lower interest rate (reflecting reduced risk) we would be first in line to get paid if anything happened to GM, bankruptcy-wise, which was still pretty unthinkable before the - driven collapse of the credit system. We were ahead of stockholders, subordinated bondholders, pensions, etc... first in the line.

Well, until Obama intervened, disregarded our contract (which is going to be litigated and wrangled over for years, since he DOES NOT have authority to do so) in order to pay off the UAW for services rendered. The bondholders were demonized, criticized, and then raped in the interests of the UAW (and by proxy, big labor who mindlessly fawn over whatever moron the trot out in front of them).

Reason Two: Delphi pensions.
As part o Delphi's emergence from bankruptcy, it was determined that the Pension Benefit Guaranty Corporation - which is essentially an FDIC for pensions - would have to step in and cover Delphi pensions. But then Obama and his merry band of fcukups stepped in and ordered GM - which sold Delphi 10+ years ago - to cover the full pension amounts for represented workers - leaving non-represented workers to lose 30-70% of their pensions. Pretty clearly a case of payment for services rendered.

Reason Three: Project Labor Agreements
In a nutshell, in order to bid on winning jobs over $25M funded with stimulus $, only firms who agree to enter into a Project Labor Agreement are eligible to bid on and possibly win work. The catch: PLAs can only be created between a firm and a unionized workforce - nonunion forms need not apply.

For work under $25M, nonunion workers can be used provided: that "prevailing" (defined as union scale) wages are paid AND (pay attention here) the corresponding union local for the area receives dues for those workers, even through they are not members and will not receive benefits. Basically, a pseudo-legal transfer of $ directly from our tax $ into union coffers.

For the record, I am a former GM employee, GMI student, and own six American cars currently. My father was a union officer, and I fact-checked a biography of Walter Ruether as an undergrad. And despite that, the next vehicle I buy will NOT be union made - Toyota, Hyundai, whatever here I come. Those crooked bastards have gotten the last dollar they'll get from me.
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Old November 2nd, 2009, 07:04 PM   #2
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I would put up all the reasons I don't like him, but it would be bigger than his health insurance bill....

So i'll go with. Obama Sucks Ass
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Old November 2nd, 2009, 08:20 PM   #3
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I agree with all of the above however the "prevailing wage" ie davis-bacon (mmmm bacon) has been around much longer than Obama. There are many loop holes for small company's to work with.

For the larger jobs there really are very few non union contractors that are able to do them. This is probally due to the fact that they aren't allowed to play in that area so therefore they don't grow to have that capacity. In todays world unions have no place being a requirement for construction. Let the workers decide where they want to spend there time are effort and how they want to be compensated.
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Old November 3rd, 2009, 08:03 AM   #4
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Originally Posted by DuffMan View Post
For the record, I am a former GM employee, GMI student, and own six American cars currently. My father was a union officer, and I fact-checked a biography of Walter Ruether as an undergrad. And despite that, the next vehicle I buy will NOT be union made - Toyota, Hyundai, whatever here I come. Those crooked bastards have gotten the last dollar they'll get from me.


I cannot blame you for feeling this way, and can offer no soothing words of comfort. I also assume you're whizzed off at the UAW for punishing Ford for being successful and voting against similar contracts/agreements that GM and Chrysler have? I wouldn't be surprised if those assholes strike soon to "Teach Ford's a lesson".
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Old November 3rd, 2009, 10:50 AM   #5
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be careful, you will go to jail for hate crimes
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Old November 3rd, 2009, 10:57 AM   #6
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Originally Posted by ScOoTeR View Post


I cannot blame you for feeling this way, and can offer no soothing words of comfort. I also assume you're whizzed off at the UAW for punishing Ford for being successful and voting against similar contracts/agreements that GM and Chrysler have? I wouldn't be surprised if those assholes strike soon to "Teach Ford's a lesson".
A big driver of my 'tude, but not one I can blame The Messiah for. Let 'em strike - it could be the event that triggers the end of the UAW as we know it, as they'll get ZERO sympathy.

There are already an appreciable number of folks who buy imports simply because they don't want to feed the UAW beast, and that would add to those ranks.

As a (former) salaried GMite, I didn't hate the UAW. And as a "synchronous manufacturing" (lean production) guy, i worked with them routinely. I still don't hate the membership, just the outdated organization that's doing increasingly desperate things to survive.
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Old November 3rd, 2009, 11:22 AM   #7
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Originally Posted by ScOoTeR View Post


I cannot blame you for feeling this way, and can offer no soothing words of comfort. I also assume you're whizzed off at the UAW for punishing Ford for being successful and voting against similar contracts/agreements that GM and Chrysler have? I wouldn't be surprised if those assholes strike soon to "Teach Ford's a lesson".
Yeah the whole Ford deal is fucking bullshit.
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Old November 3rd, 2009, 11:31 AM   #8
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You need to tow the line Comrade. Our great and majestic leader only wishes the best for you and the rest of the faithful workers of America. Do not question the ever wise and all knowing dictat......ahhh..... President of this great communist...opps...community.
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Old November 3rd, 2009, 12:28 PM   #9
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You need to tow the line Comrade. Our great and majestic leader only wishes the best for you and the rest of the faithful workers of America. Do not question the ever wise and all knowing dictat......ahhh..... President of this great communist...opps...community.
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