Truth In Advertising
GM President & Chairman Ed Whitacre states that company has paid back their original loan from the government in full. Truth ? No not exactly as the company has only repaid in part the original investment . So far it has only repaid back $5 billion to the US Treasury Dept . However there is the matter of the other $56 billion that the US taxpayer is still owed . And that as of this moment in time the company is unable to say when that money will be repaid. What we do know at this moment in time is that US Canadian governments are the majority stakeholders in the automotive company . The two government’s combined holdings in the company amounts to 72 % of General Motors (GM) .
While President Barack Obama and Treasury Secretary Tim Geithner assures us that our investment in the company is safe . What they cannot tell us is when those monies will be returned to the taxpayer. Because the money owed , no one is absolutely sure when that sum will be repaid . Whitecre and the board of GM are looking to take the company public within the next two to five years and in that time the monies derived from the IPO (initial public offering ) will be used to “repay” the US Treasury . Do you get the feeling that the Obama administration , much like Whitacre and his board aren’t really sure in all likelihood when they will in fact will be able repay the monies owed ? The company through creative accounting still can’t turn an operating profit. And even now with a slight increase in volume sales there’s still no indication that the company is heading in the right direction and that it will indeed become profitable and going concern once again. It has been over a decade since the company turned an operating profit for a fiscal year.
Slideshow gallery for your perusal ……
The Milwaukee Brewers yesterday put a pounding on the Pittsburgh Pirates in what is the largest run total amassed in a baseball game this season. The 20-0 victory over the Pirates was about as lopsided a loss a team could suffer ! The Pittsburgh Pirates were essentially pitiful and hopeless , leaving 10 men on base in scoring positions during the game . If that wasn’t bad enough there were only slightly over 13,000 people in attendance for the ballgame at Miller Park in Milwaukee.
Now one could attest to the fact that this might be a misnomer in the performance of the Pirates. But the truth here is , the team is nowhere near as competitive or good , as first thought. Despite having a young nucleus , the team has “no veteran leadership”. And they possess a front office that is totally bereft of creativity or ideas. And principal team owner Bob Nutting while stating that he wants to guide the organization along the road to success. One now gets the impression that the direction is in the opposite tract of where Nutting and the fans desire where the team needs to be. In all honesty the Pittsburgh Pirates are no more a baseball team than the “members” of Congress can be truly considered to be a political body . In reality by mere appearance alone , do they actually portray that in their performances within their respective environments ?
Now how many of you last night actually took time to watch the initial moments of the NFL Draft last night as it was being televised by ESPN ? As the events unfolded you got the impression that broadcast cable outlet was all the more embarrassed by the fact that their foisted draft guru Mel Kiper Jr had yet to actually get a pick right. It wasn’t until Florida’s Joe Haden was taken 7th overall in the first round by the Cleveland Browns that he actually got a draft pick right according to his own projections. And this is a guy who we’re led to believe is fastidious and uses due diligence in researching his work ? Kiper if anything is more about self publicity and his pompadour bouffant coiffure appearance than anything else ! His talents if any, are marginal at best. I’d lump him in the same category as the bloviate that CNBC has in Jim Cramer , who accordingly recommends his stock tips to the public. But bear in mind Cramer was the guy who recommended to investors that they ought plow their hard earned cash into such equities as AIG and Citicorp prior to the financial meltdown of the economy. The pundit’s response to the malaise was that he ………hadn’t used due diligence in seeking out the right information when offering those tips”. You think ?
The embarrassment couldn’t be offset by the outlet as they repeatedly panned away from Kiper and sought the input of the other panelists that the outlet had convened to give their own thought as to the moves to be made by the teams during the draft. Todd McShay who may well be the heir apparent to Kiper fared little better with his own picks. But the thought is , he’s viewed as more media and viewer friendly than the erstwhile Kiper, who’s is at least twenty years McShay’s senior. But you wouldn’t have thought it given Kiper’s grooming. Other than Donald Trump . I don’t know that I’ve seen someone more scarier with regard to their hairstyles. While Trump has the comb-over I’m not sure what to make of Kiper’s bouffant style ! The expert and his profound knowledge on things alluding to the NFL Draft appears to be lost in a whole deal of muck at present. With two more exacerbating and arduous days to go, this event as far as I’m concerned can’t be over and done with , soon enough ! It’s bad enough to have the pundits proffering up opinions. But in reality no one truly knows whether or not many of the players chosen will actually pan out and have a successful career in the NFL .
It looks as if the Chicago Bulls are not going to make the task any easier for the Cleveland Cavaliers , as they seek move deeper into the playoffs . At the United Center in Chicago they gave as good as they got from the LeBron James’ led Cavaliers . The number one seeds in the Eastern Conference were made too look somewhat ” mundane” during the game. And if anything you would have been hard pressed to have suggested that it was the Cavaliers who in fact possessed the 2-0 lead in the best of seven game series.
Led by Derrick Rose and Joakim Noah . The Bulls made the Cavaliers pay for their complacency and lack of respect of this Bulls’ team . And in front of as a raucous soldout crowd the Vinny Del Negro coached team waylaid the ambitions of the Cavaliers with a 108-106 victory over the LeBron James’ led team. And if only momentarily , the Cavaliers may well have been stopped in their tracks . You get the impression that the Bulls aren’t about to make this series a complete walkover for LeBron and his teammates. Last season in the playoffs the Chicago Bulls put an almighty scare into the Boston Celtics before losing the series in seven games. This time around however , the experience from that loss of the series has made this Bulls’ team all the more resilient. And if anything they are looking to not have a repeat of the same experience at the hands of the Cleveland Cavaliers, this time around.
Though it‘s too early yet to suggest that we have an upset in the making . Would it at all be a surprise if the Bulls were to upend the Cavaliers in the first round of the playoffs ? Record wise the Cavaliers regular season mark (61-21) suggests that they are the best team in the league . But their play leading into the postseason and over the three games so far in this series, doesn‘t actually bear this out. They may have a 2-1 lead in this series but they‘re going to have to play a great deal better if they are to proceed further in the 2010 NBA Playoffs .
Truth in advertising attests to the fact that whatever a manufacturer is stating about its brand or product has to have a basis in fact and not mere suggestions as to what they think is apt for the consumer. This is where the rubber hits the road concerning Ed Whitacre , GM , Pittsburgh Pirates and the Cleveland Cavaliers . They either have to….” put up or shut up” . And the case will now point to the fact that it may well be that none of parties now being mentioned here has actually lived up that statement . Well not as of yet anyway. I mean are the Pirates a baseball team or a mere aberration and a blight to MLB ? Will GM actually become profitable again and repay the $50 billion plus that it still owes the US taxpayer ? Will Mel Kiper ever be taken seriously with regard to the experience he allegedly brings concerning the NFL Draft ? And last but not least are the Cleveland Cavaliers justified as the prohibitive favorites to win the NBA title ? Or is it merely because of LeBron James that we’re all so caught up and enraptured by the team ? These questions and more will have to be answered sooner rather than later !
Picture gallery ………click on each to view as a close up .
What are your thoughts if any on the points I’ve raised ? By all means do chime in with a comment. I‘ll look forward to reading them all and responding in kind .
Alan Parkins aka tophatal …………………………….
Madonna ……………….” Vogue”
Everyone had to been striking a pose with regard to Whitacre, Kiper , the Pirates , LeBron and the Cavaliers. I mean how could they not be ?