Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts

Tuesday, October 29, 2013

George Will Vs. Juan Williams

Here's George Will wiping the floor with Juan Williams, eating his lunch, drinking his milkshake, and then letting Williams escape with the last word. 

Will starts by explaining why all rational people want to see ObamaCare defeated.  That's easy. 

Then Williams start in on Social Security, arguing that it's now incredibly popular, and that ObamaCare will soon achieve the same level of popularity.  AND WILL LETS HIM GET AWAY WITH IT!!!

All you have to do, George, is stand on the table, bang your shoe on the rafters, and say "JUAN, YOU OVERPAID IDIOT, SOCIAL SECURITY IS BROKE!!  THERE IS NO MONEY LEFT IN THE FUND!!!  ENRON WAS POPULAR!  LEHMAN BROTHERS WAS POPULAR!!  WHO GIVES A SHIT ABOUT POPULAR!!  THE WHITED SEPULCHRE WILL NEVER, EVER COLLECT WHAT HE PUT INTO THE FUND!  IT'S F***ING BROKE!! BROKE AS THE TEN COMMANDMENTS!!!" 

(God, I feel better now.)

Watch the whole thing.  It's only two minutes. 

 

Saturday, June 16, 2012

Rats on the West Side, Bedbugs uptown !!!!

Ok, go to the video at the bottom of this post, hit play, ignore the annoying ad, crank up your speakers, and start reading.  Here's something from Reason magazine, via a link from Glenn Reynolds:

Tacking on overtime is only one of a long list of union-won perks behind New York's rising pension burden. To dodge a federal law capping public pensions to $195,000 a year, in 1997, Albany created a second fund for "excess benefits." Twenty-eight New York employees, nearly all teachers, exploited the loophole, leaving taxpayers with a $6 million check this year alone.

A prediction....  Next on the list will be Illinois and California.  They're going to go broke.  Shattered, Shattered.  Shadoobee, etc.... 

These and other sweeteners are part of the reason why the city's annual pension payout has increased 900% since 2000. And that's before health care benefits are included. For every dollar police officers contribute to their retirement, taxpayers contribute nine. Mayor Bloomberg's office warns that if one thing pushes New York City into bankruptcy again - 35 years after the last time - it will be pensions.

A prediction.... Next on the list will be Illinois and California. They're going to go broke. Bloomberg isn't worried about that as much as he's concerned about your right to purchase more than 16 ounces of Coca-Cola at once.  Rats on the West Side, Bedbugs uptown !!!  Shattered, Shattered....Go ahead, bit the Big Apple. 

As Gov. Paterson pins budgetary balance partly on more federal money, and lawmakers throughout the state struggle to balance the books, they have no further to look than their own legislative records for the cause of New York's growing fiscal stress. What is perfectly legal in New York's pension systems is also not fiscally sustainable. [...]

No, retirements that last longer than employments are not "sustainable".  And yet NPR's "Sustainability Desk" remains curiously quiet on the subject.  BTW, Illinois and California are going to be broke as the 10 Commandments in a few years....

Technically estimated at $452 billion as a result of flawed accounting, the real unfunded pension obligation in state pension plans is closer to $3 trillion.

The bill is now coming due.

It's also coming due in California and Illinois, BTW.  They're going to go broke. 

Professor Joshua Rauh of Northwestern University projects that even if public sector plans earn 8% on their investments, four states - Illinois, New Jersey, Connecticut and Indiana - will run out of assets to pay retirees by the end of the decade. States and local governments will soon find themselves up against a painful tradeoff: between closing schools and libraries and cutting other essential services or paying inflated pensions to 50-year-old retirees.

Here's the Stones.  Rats on the West Side, Bedbugs uptown, this town's in tatters.  Even if New York, California and Illinois are going broke, this stuff here, the soundtrack to my high school years, it'll give you a great case of Happy Feet. 



Saturday, January 14, 2012

Everything was clean and green....

...except for their balance sheets. 

Go here to see a list of ELEVEN more Solyndra-like companies to whom Barack Obama gave your money.   

If all of them go under, and it's looking like they will, Obama will have blown 6.5 billion dollars of your money, money that he took from you by force. 

Saturday, December 24, 2011

6 Things Ron Paul Has To Explain

Here are 6 things that various ConservaPundits think that Ron Paul has to explain before getting any more traction in the (snicker) Party Of Small Government. 

•The “disaster” of Ronald Reagan’s conservative agenda


•Social Security, Medicare and Medicaid are unconstitutional

•American drug laws are designed to fund rogue governments, CIA programs

•U.S. foreign policy “significantly contributed” to 9/11 attacks

•Returning white supremacist donation is “pandering”

•The Civil Rights Act “violated the Constitution”

Only one of them should be difficult. 

Monday, November 28, 2011

In which the Occupy Wall Street movement starts to get a clue

I've had a glorious time ridiculing the Occupy Wall Street movement for the last few months.  They have no idea what they want, no idea about the root cause of their complaints, and their problem with homeless people mooching the food that was donated to THEM ONLY, well, that makes me wake up in the middle of the night with fits of The Giggles. 

But now they're getting somewhere.  See the chart below.  Bear in mind, this is only the "discretionary" spending. 

We're responsible for more than 40% of the world's military expenditures.  We have 6% of the world's population.  We have a massive % of the world's debt. 

Isn't it time for this sacred cow to get slaughtered?  Or at least put on a reasonable diet?

Where the hell did the Peace Movement go?  Are we going to have to elect a Republican before we hear from those people again?  Where's the freakin' outrage over Libya and Pakistan?   

p.s. - We really shouldn't spend this much on the other stuff either. 

Friday, August 26, 2011

On the places where Warren Buffett chooses to invest his money

Zillionaire Warren Buffett has been in the news a lot. 
First, he made worldwide headlines by complaining in a New York Holy Times editorial that he isn't forced to give enough money to our government. 
This is strange.  Anyone wanting to give more money to the government can do so by hitting this link, which gives you some helpful information, plus this address:

Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782

No New York Times editorials are necessary.  No complaining is necessary.  No righteous posturing is required.  All Mr. Buffett has to do is write a check for the amount he thinks he should be paying, mail it to that address, and his money will be wasted just as quickly as the money that Washington is borrowing from China.  (And if Mr. Buffett wants some publicity and increased stature amongst The Statists, that would do it.  The more rational half of the nation, however, would know that he'd gone stark, raving mad.) 

Or perhaps Buffett just wants other people to pay more money, but not himself.  We'll never know.  You can go here to read an analysis of why Buffett's claims about his tax rate are somewhat misleading.

Here's something else about how Warren Buffett chooses to spend his money, this time from The Wall Street Journal:

Warren Buffett's Berkshire Hathaway Inc. will invest $5 billion in Bank of America Corp., giving the nation's biggest bank a much-needed vote of confidence amid questions about the credibility of its management.What do you think? Will that figure shore Bank of America up adequately for a return to profitability? Is Buffett seizing a golden opportunity, or taking too risky a gamble?

Hmmmm..... This is a strange one.  You can go elsewhere on the internet and read that it isn't just the 5 billion investment that has caused Bank Of America's stock to increase.  It's that Warren Buffett, The Sage of Ohama, has taken a look at Bank Of America, thought about it, and declared BofA to be worthy of his money and his shareholders' money.  If Warren Buffett says it's a good investment, it's a good investment. 

Why would Warren Buffett voluntarily throw money at a risky proposition like a failing bank, but complain about not being forced at gunpoint to give more money to a failing government? 

I think it is because Bank Of America is probably a good investment, and a good use of Buffett's money, and a good use of the money of the investors who trust Warren Buffett. 

The United States Government, under present leadership, is not. 

Money talks, bullshit walks.  Especially if it is Warren Buffett's money. 


Friday, February 18, 2011

Borders Books - Burleson Texas, R.I.P. We'll miss you, but don't ask for a bailout

Dang it, dang it, dang it. 
Border's Books has declared bankruptcy. 


They're closing 200 stores, one of which is their Burleson/I-35 store where I've spent many a lunch break.  I got to hear one of my alt-country heroes, Deryl Dodd, play an acoustic show in their coffee bar during the store's grand opening.  (I'm typing this in that same Border's coffee bar, BTW.) 

They're also closing their 30,000 square foot monster store on Preston Road in Dallas.  I used to run stores for Bookstop/Barnes and Noble, and that Border's store kicked my Preston/Forest Bookstop's rear end.  Hard.  Bookstop couldn't compete on selection or service, and couldn't beat them by very much on price.  It was ugly.   

(Full Disclosure:  I left Bookstop because of illness and fatigue.  They got sick and tired of me.)

The Preston Road Border's has great sales but is probably burdened with rent from hell.  Oh well.  They're closing it.   

The Fort Worth Hulen/I-30 store looks safe for now (congratulations, Jackie G.!) as does the south Arlington location. 

Gary Hoover founded Bookstop, sold it to Barnes and Noble, and went on to create business data provider Hoovers.com
Gary (once my boss's boss's boss) also doubts that Border's will survive:

Now, the survival of Borders depends on the financial stability of the company, the ability to secure interim funding (GE Capital has promised $505 million in financing) and the willingness of publishers to supply books, Hoover said. But in retailing, unlike the airline industry, it’s uncommon for a company to emerge from bankruptcy, he said.


“If the same management team who has been running it the last several months stays in place, it is only a matter of time until they close up completely. But whether that is six months or six years depends on many variables,”
That's not a vote of confidence. 

I  love books.  I keep them stacked in dangerous piles on my bedside table, I keep them in unlikely piles on my truck seat, and I have various books "started" at my mother's house, my sister's house, a church library, and in two different vehicles.  Until my eyes went bad, I had books beside the bathtub.  (Reading glasses fog up in hot water.) 

I'm sure that I'll eventually get a Kindle or a Nook, but I'm fighting it. 

I'm the same way with CD's.  They're all over the bedroom, leaking by the dozens out of a bookcase across from the bed.  I can't quite go digital.  I don't trust any electronic device with my stuff.  Do a Google search on "symptoms of old age" for more details. 

The Aggie hasn't bought a CD in 6 years.  The main draw at Border's Preston used to be the massive CD selection.  It's now dwindled to a few lonely rows. 

So....

Name an industry worthy of a bailout.  Explain why. 

Did you pick Border's?  Would you be willing to prop up a failing business model and product line with your own money?  Would you take that risk? 
Did you pick Chrysler?  Would you be willing to prop up a failing business model and product line with your own money?  Would you take that risk? 
Did you pick a bank or a Wall Street firm?  Blah? Blah? Blah? Blah?  Would you encourage them to carry on as usual with your money? 

If Texas Governor Rick Perry were to intervene and throw a hundred million taxpayer dollars to the Texas Border's stores because they were "too big too fail", would it give you a warm and runny feeling?  What if he did it to "save and create jobs"?  Would that work for you? 

I didn't think so. 



The marketplace has spoken, which is another way of saying that YOU have spoken.  Rick Perry doesn't know any more about Bookselling than John Boehlout Boehner knew about Wall Street or banks.  There is no difference.  For capitalism to work, government can't support any form of screw-uppery. 
 
There came a time when the last American Buggy Whip manufacturer had to close its doors.
Ditto for Betamaxes, Edsels, the TRS-80 computers, the Commodore 360's and my beloved Sour Lemon "Now and Laters" candy. 
Within 5 years you won't be able to purchase a new car with a CD player in the dashboard. 

I'm betting that within 10 years, you'll be able to approach some sort of device in any public place and access all of your "stuff" - work, health, movies, music, books, email, pictures, and things we can't even imagine.  Maybe the device will even be portable.
Oh, wait a minute....that has already happened.  I'm typing this on a contraption called a "laptop".  You may have heard of them.  And they've almost killed the filing cabinet industry, the movie rental industry, Virgin Music Megastores, Border's Books, the U.S. Mail, and Eastman/Kodak, and the IBM Selectric typewriter, and World Book Encyclopedias, and the career of Dan Rather.

I used to think that one day I would write a book.  And if it was really good, maybe 3 or 4 thousand people would read it.  I called it my dream.  Now, because of this website, that's not called a dream, it's called.... "Friday".  Or "Monday".  I now reach more people every day than my hometown Sunflower County News used to reach in a week.  The dinosaurs have died out, but the possums lived on....

But I'll miss the Border's in Burleson.  (At the risk of sounding totally contrived and corny, they've already closed the cafe at the Border's Burleson, where I'm typing this, but the Wi-Fi has still been working.  The staff just came by, thanked us for our support, and told us that they're about to turn off the wireless internet.  For good.  I'm switching over to a Sprint/Nextel aircard....speaking of devices that need to be replaced QUICKLY with something better.) 

Heck, you're reading the words of somebody who violently resisted the switch from 8-tracks to cassettes. 

This is what has to happen in order for things to improve.  Dammit. 

The picture of the Debt Star came from here. 

Sunday, May 9, 2010

Who Wants "Newsweek"?

The Boston Post asked the "Who Wants Newsweek?" question in a recent article about the once-great weekly magazine being put up for sale after years of declining readership. 

Newsweek's editor, Jon Meacham, is a good writer, but he suffers from a blinding affection for The Teleprompter Jesus, along with the typical inconsistencies that go with joining that cult.  Here's a pic from the cover story that Meacham wrote shortly after the bailout scam:


Later on, Meacham managed to make light of the Tea Party bunch who claimed Obama was some kind of "Crypto-Socialist". 
Go figure.  According to Meacham's cover story, I though we all were. 

Here's the closing paragraph of the Boston Post article:

It would be a mistake to argue that Newsweek’s center-left stance and Obama worship did it in. U.S. News and World Report converted to a monthly two years ago. No one can fault Newsweek for trying a new course. But maybe the world already has a surplus of must-see analysis and opinion.

Well, I disagree.  If you give your readers a steady diet of Barackaganda, you're going to lose readers.  Lordy, if I want a center-left stance, complete with "Obama worship", I can turn on Meet The Press.
.










 








 So goodbye, Newsweek.  You got me through many a dull Study Hall at North Sunflower Academy, 1974 - 1979.  And one other thing, compliments of these folks:

Thursday, August 6, 2009

A note to Tyna with SAIA, mostly about the YRC Worldwide discount

One of our sales reps sent me a link to this WSJ article today:

As YRC Struggles, Rivals Stalk Clients
BY ALEX ROTH
YRC Worldwide Inc., one of the nation's biggest trucking companies, has been struggling in recent months as the recession has sapped demand for freight services. Now, in an industry known for its hardball tactics, YRC's competitors are piling on, trying to pick off its clients by telling them the company's weakness could put their shipments at risk.

The competitors are indeed piling on. I have to kick sales reps off the steps just to get in the office each morning.

YRC is the largest player in so-called less-than-truckload shipping, in which goods from several customers are consolidated on trucks and delivered through a nationwide series of distribution centers. The company, which operates the Yellow and Roadway trucking lines, has a 20% share of ...

And that's where the WSJ "preview" of the article ends, except for paid WSJ subscribers. Unless, of course, you have sense enough to use an internet search engine. You plug all of that last sentence into Google, and you can find where an outfit called Cargonews Asia has already scraped it (without attribution). Here's some more:

....has a 20% share of the $51 billion-a-year business. Though it says it can weather the economic storm, YRC's financial situation has become increasingly dire, amid losses stemming in part from what analysts say are underperforming acquisitions and problems integrating its national route networks. Last week it reported a 35 percent drop in second-quarter freight tonnage, a steeper decline than those of many rivals.

YRC's competitors can smell blood in the water. This is a huge opportunity for them. They take me to lunch, and at some point they give me the look that Baptist preachers used to have when they asked "If you were to die today, where would you spend eternity?" But instead, they ask "What are you going to do if YRC goes under?" "Are you going to have a lot of freight stuck on their docks?" "How have YRC's service levels been?"

Roadway had little or no debt when Yellow Freight bought them out a few years ago. Both were (and still are) union companies. The problems with integrating their national networks aren't an exaggeration, and neither are the issues with underperforming acquisitions. (Do a bit o'Googling on USF Bestway.) I haven't even mentioned the Teamsters Union, have I ?


If YRC goes under, that will leave ABF as the only union LTL carrier. I never thought I would see this day. (Do another bit o'Googling, and you'll also see that their competitors aren't shy about advertising that they have non-union drivers. I wonder why.) Despite my anti-union bias, I hope YRC can find a way to survive.

Here's some other stuff from further down the article:

SAIA, of Johns Creek, Georgia, sent some YRC customers a letter offering prices "equal to a 12 percent discount off the current pricing the [customer] currently has in place with any carrier" in the YRC group. A Saia official said the company wasn't necessarily singling out YRC customers and also offers rate cuts to customers of other competitors.

Note to Tyna with SAIA.....I haven't gotten that letter yet, and I'm looking forward to getting one. We need to talk. If ANYBODY gets another 12%, WE get another 12%.

Friday, July 17, 2009

Why You Should Pray For The Continued Health Of Barack Obama

(CNSNews.com) – Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.


“And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,” Biden said at the event on Thursday in Alexandria, Va. “It’s totally unacceptable. And it’s completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially.”

“We’re going to go bankrupt as a nation,” Biden said. “Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.” (Listen to Audio)Click here to read the rest.

A fresh coat of Whitening to The Kitten Accounting Corps for the link, and Theodore's World for the picture.

Thursday, June 4, 2009

I Have A Dream ! (And Buy Some Stuff I Don't Need)

This is a continuation of the previous post.
I've been having these recurring dreams about going to the final G.M. bankruptcy auction in the year 2014.



These dreams have been curiously episodic, with each one beginning where the previous dream ended.....


In my dream, I wipe my feet on the Hillary doormat and go into the former office of General Motors' CEO Barack Obama.

GM's President Obama had the strangest career path in automotive history. From his early days as a failed community organizer, then his unremarkable tenure as a constitutional law professor, to his generic stay in the Illinois state senate, and a brief pit stop at the U.S. Senate., Obama finally used all of his non-experience as a launching pad to become leader of the free world for about six months.

But what Obama really wanted to do was make cars. Using his status as president of a less vital organization to mount his hostile takeover, Obama forced Rick Wagoner, GM's Old School president, to resign.

Then Obama started rebuilding every element that mattered in the GM organization - the union, the lobbyists, the environmental compliance officers, the get-out-the-vote specialists, the Card Check goons, the retirees' pension fund administrators, the rent seekers, the UAW liaisons, and the company logo.

Judging by campaign contributions from employees and vendors, things went well at first. But then it became necessary to sell some cars, and the government could only purchase so many for itself. So the government began issuing new coupons to low income families. These coupons were good for Agricultural College staples like eggs and cheese, or could be traded in for a Chevy Cavalier.

Within a few months, middle schoolers were calling all GM products "Loser Cruisers". No amount of marketing (Tipper Gore was brought in for a YouTube video in a failed attempt to revive the GTO) could restore any level of coolness to GM automobiles.

There was a failed re-branding campaign....

....and then the company continued its sad slow decline.

I slid into the chair behind Obama's desk, and put my feet up. To my left was the famed trophy case, still containing Hillary's pride and Larry Summers' integrity. To my right was a large bookcase displaying titles like CEO For Dummies, Auto Design For The Complete Idiot, and several hundred copies of Dreams Of My Father. The office had a massive picture window looking out over the now-quiet assembly line, and I could barely hear the auctioneer droning away.

How sad it would have to be, to work one's entire life to become President of a major car company, only to have it go out of business.

I make a note to bid on the trophy case, and go back into the hallway toward the production floor. The auctioneer is on a rolling platform, obviously frustrated that there is no longer a market for much of what he is selling....

"Ok, let's move on to the next lot," he says. "Who'll give me three million dollars for this inline paint system? Who'll give me two million? Somebody start us off. One million? 500K? Somebody get us going...."

Mr. China looks at his shoes. Mr. Japan heads to the restroom.

"What do you want to pay for this system? Somebody start us off. It cost 40 million when they installed it in the nineties. Who'll start us off at fifty thousand?"

Mr. China says something about not having enough carbon credits. Mr. Taiwan is unseen, remaining the silent online bidder. They both look at me, and I have to explain that I'm not registered with the cap-and-trade system. Eventually I offer $500, out of guilt more than anything else, and the auctioneer immediately says "Sold". If I'm lucky, I'll clear enough from a scrap dealer to purchase a McDonald's Value Meal.

No one bids on the welders. They emit gases into the atmosphere.

No one bids on the shears or machining centers. The insurance is too expensive. Lawsuits waiting to happen.

No one bids on the giant punch presses - they're now White Elephants. With permits, fees, sin taxes, and other regulations, no one can afford to drive any of the large cars this machine once created. Most new model 2014 cars are small enough to be made on an anvil.

The auction goes on and on, with most of the lots going unsold, or selling for pennies on the dollar. And then I find myself raising my hand for one more irrational purchase.

I woke up at 6:00 this morning, wondering how I was going to explain paying $2,000 for a "Hillary" doormat. Thank God it was a dream. I get a feeling I'm going to dream about this damn auction again tonight.

The G.M./Obama logo came from Black & Right, an African-American blogger who makes me seem calm and reasonable. The Obama cap was emailed from The Moxie Mom.

Wednesday, June 3, 2009

I Have A Dream ! (of General Motors in 2014)

I go to a lot of auctions.
A few of these are held at workplaces that are selling off surplus equipment, but most of the time the company has simply gone bankrupt. Auctions are the best way to determine fair market value when selling assets to pay back creditors.



At some point during the sale, I usually find some excuse to visit the CEO's office, sit down in the chair from which he directed his vast empire, and wonder what went wrong.

Some places suddenly go under with 6 months' worth of orders still waiting to be manufactured. Others are slowly starved out of existence. Sometimes, there's a lawsuit that shuts them down.

Occasionally I can stroll through the maintenance area and understand the big picture. There will be a vast collection of hot rods, boats, classic cars, 4WD hunting vehicles, plus lots of other toys the owner purchased with company funds. Never a good sign.

Last night, I had a dream....

I'm walking down Highway 360 in Arlington, Texas. It's sometime in the year 2014.
The weather is pleasant, considering that the earth is supposed to already be past Al Gore's "Tipping Point" in 2014.

I follow the "General Motors Auction" signs to a vast factory.....


The parking lot isn't very crowded, considering that billions of dollars worth of equipment is about to change hands. Several of G.M.'s infamous 48-year old retirees are milling around the entrance.
"Want to buy our pensions?" one of them asks. "Sorry, but I'm already on the hook for them," I apologize.
I fight my way past several Union Organizers who are still trying to register passersby for Card Check, and am surprised to see that there's no waiting line at the registration table.
This is unusual.
I give the clerk my business card, and a letter of credit for $350 million dollars. (Remember, its the year 2014, and the bailout and stimulus money has now infiltrated our financial system. It now takes at least fifty grand to get a pizza delivered.)
"Here's your auction catalog and bidder number," says the clerk. "You'll be bidder number 4."
"There are only three other bidders here?" I ask.
"Well, the gentleman from China registered yesterday, the Japanese representative arrived sometime this morning, and the Taiwanese government is bidding online. This could be your lucky day !"


I walk past the registration desk toward the famed G.M. assembly line. It's a manufacturing geek's paradise. There are robotic welders that could weld Juicy Fruit wrappers to a Coke can. There are massive punch presses that could stamp a block of steel into a Chevy Tahoe. These machines demand respect and reverence as you approach them. These are the machines that made the parts for Buicks, Cadillacs, Saabs and Saturns.

I'm walking down the assembly line that for the last five years has manufactured the Michelle 4x4, the Sasha 401K, the new GTO (Malia edition), and the Biden Gaffemaster convertible. Incredible.


With nothing on the assembly line but chassis assemblies, it's hard to tell what particular car was in production when the line shut down. Possibly the Geithner Evader 4.0

"All right, everyone, it's time to get started," I hear the auctioneer say.
This is surreal. There's no one in the plant but the Chinese bidder, the Japanese bidder, and me.

"We're here this morning to sell off the assets of the General Motors Arlington Texas Facility, at the request of the United States Government and President Barack Obama. Getting a facility of this size ready for an auction isn't easy, and we're thankful for all the help and cooperation we've received from General Motors President and CEO, unhhh, Barack Obama."

"All goods are sold 'as is, where is, and with all faults noted', and all sales are final. You will have 10 days to remove your purchases from the factory unless you are high bidder on the building and surrounding real estate. The real estate is part of a package bid that will include The George W. Bush/Texas Rangers Ballpark, the Dallas Cowboys' Arlington Stadium, the Jerry Jones Triumphal Arch, and several other bankrupt taxpayer-funded boondoggles."

"Any questions before we begin?" the auctioneer asks. "Good. Let's get started. Lot #1 is a Kyoto brand emissions tester....Who'll give me $50,000 Who'll start the bidding at $50,000?"

I wander away, leaving the Chinese, Japanese, and Thai bidders to fight it out for the regulatory equipment. I look into the design rooms. The progression from drafting tables to Autocad to Solidworks to Feng Shui Lao Tzu (3.0) has made these auctions a lot less interesting. There are never any leftover drawings to burrow through. But I do find a clay mockup of the prototype Lewinsky Hummer, a model that never made it into production. Everyone said it sucked.

I journey down another hallway, trying to find President Obama's office. This is one of those dreams where each hallway leads to another. I go past the Office Of Regulatory Oversight. I see the Office Of Parallel Authority. I accidentally wander into the lair of the U.S. Government Dispensers Of Red Tape, whose jobs required them to keep the U.S. Government Red Tape Elimination Bureau in business and running at full capacity. I spend an hour trying to find my way out of the Department Of Diversity, the Chamber Of Change, and the Hall Of Hope. Everywhere I look are papers. Filing cabinets full of papers. Reports about papers. None of them have anything at all to do with making cars. The auctioneer's voice begins to fade in the distance as my walk carries me closer and closer to Waco, Texas.

Finally, I see what I'm looking for. At the end of the hallway is a door labeled "Barack Obama, CEO, General Motors". I wipe my feet on the "Hillary" doormat, and go inside.

I just woke up and hit my alarm clock. This dream will probably continue tonight.

Photos from here and here.