Stock Market and Political Commentary

The No Cash for Suckers Program

I personally talked to two car dealers this weekend who told me that not a single dealer in Tennessee had received payment from the government on the Cash for Clunkers program.  This is causing them severe cash flow problems.  As a result they were no longer participating.  

Now this is hitting the national news.   New York dealers are also pulling out.  I'm sure the same thing is beginning to happen around the country since the dealer told me that as of a few days ago 222,000 deals had been made and only 1,900 of those had received checks from the government.

This is a simple program and the government can't even get this right.  What do you think they would do with something as massive and complicated as the US health care system?

NY Dealers Article

J. Cogburn

Falling Standard of Living in US?

Remember the good old days when people could get a job in the auto factory and make a decent living?

 

And how about pilots and crew members of major airlines? Remember when these were great jobs with good pay for crew members and great pay for pilots?

 

Well those days are gone.... see what the hero "Sully" had to say about his financial situation over the last few years.

 

http://news.yahoo.com/s/ap/20090224/ap_on_go_co/plane_splashdown_hearing

 

And if you think Obama is going to improve this slide, you know with hope and change... forget about it!  His policies will accelerate the decline.

 

 

My Canadian friend responds....

I had to dry my eyes several times, What BS.  Pilots in Canada and in the States make good money (see below at bottom of post). As for the auto industry they are overpaid, have big pensions and BIG medical plans. In Canada the people with small salaries are the military(not including Majors and above).
  Obama is not the messiah, so don't expect him to turn the mess he was handed into GOLD, overnight. Negativity will only make thing worse. This is the time for the USA to work as a unit and not pull itself apart.       
  Good Luck in the turnaround.

My question to pilot friend....

Looks like an old salary chart to me as it is my understanding the salaries of yester year are gone... what say you?

My pilot friend responds.....

Exactly true.  Salary I was paid flying 300 people on an Airbus A330 over the North Atlantic was less than I was making in 1985 flying 112 people in a B737.  Retired 2006.  I'm talking absolute numbers of $, no inflation factors thrown in the mix. In addition, pension fund was looted by management for personal benefit (federal prosecutors investigating now), and pension promised over 34 years of loyalty to company is being paid at about 42% of the numbers promised all those years.  Really threw a monkey wrench into financial planning only two years out from retirement. 

I agree with Sully in that I don't know of a single pilot flying for a large airline that would recommend his children follow in his footsteps.  Hey, but you can buy a ticket for only $59 on sale.  You get what you pay for.  Ask the folks on the commuter in Buffalo. It used to be one of the most sought out professions out there, now most in it can't wait to leave.  Don't get me started on the idiots in the FAA and TSA and their clueless BS....

Sully was in a younger pilot group at time of pension termination, and he will get less than half of what I ended up with.  And the CEO seems to have bought his $9M house using our pension fund.  We have

the paper trail where the fund was looted by his management team.  

Tell me where the medical plan is...  My medical was cut off at forced age 60 retirement, and was told COBRA was available for $2k a month (about half the pension), otherwise had to fend for self until 65 when Medicare would kick in.  Age 65 retirement for pilots came in '07, but guys over 60 would only be allowed to work if they started at the bottom of the seniority list again.  And those who retired in the 18 months prior to the new law would not be allowed to come back at all.

Our old CEO's would make somewhere south of $1M per year.  Last three for the company were averaging $8-12M/yr and left with payouts of $50M+, after leaving the company in Chapter 11.  Twice.

Your friend Phil  obviously has a case of salary envy in his dead end job, in addition to not having a clue what he is talking about or having current information.  

Steve

Retired USAirways

International Captain

 

Salary data presented by my Canadian friend....

 

Pirates Now Attacking Cruise Ships

Let's examine how the world works, shall we?  If it is easy to rob banks there will be a lot of bank robberies. If the terrorists can attack our embassies and even our naval vessels without any serious consequences, then they will move on to bigger and better attack plans such as those we saw on 9/11.

The pirates have had a field day by attacking oil tankers.  So far this has been a lot of fun and very profitable.  Hence you now have the predictable escalation to what looks to be an even better target, namely the cruise ships.  Yes, more people to terrorize and hold hostage plus more diverse and interesting goods to steal makes a better target, don't you think?

Will the shipping industry wise up and start sinking any vessel that approaches without authorization and killing anyone, with no questions asked, who dares to come aboard without permission?  Or will they simply allow this to escalate until these shipping industries are brought to their knees?

We shall see.  But for God's sake, if you capture any of these people don't "torture" them.  Make sure they have very comfortable living quarters with all they can eat and a free team of lawyers at their beck and call.

Never ask them tough questions that they might feel compelled to answer due to concern over peronal consequences if they don't.  That way you can demonstrate how humane and civilized you are by allowing innocent people to be killed or financially crippled while allowing the pirates to have their "rights".

MSNBC Article

J. Cogburn

Palin Travel Expenses too Much for Media?

AP could not resist running another negative story on Sarah Palin's travel expenses even though she spent $93,000 on airfare in 2007, compared with $463,000 spent the year before by her predecessor, Frank Murkowski. See my previous commentary Notice How They Work for more details.

And once again they launch an attack on her and her children even though she did nothing illegal and saved the state 75% on travel expenses over her predecessor.  Appraently the media doesn't care much for parents who actually raise the kids and spend time with them.

Notice how when it's a conservative like Sarah Palin the fact that she saved all this money and even voluntarily cut her own salary while in office to lead the way on reducing government spending they are simply outraged that this woman would take her children along on some of her travels.  And they made it clear the children were not welcome when they arrived as well.

AP INVESTIGATION: Palin children traveled on state

ANCHORAGE, Alaska – Gov. Sarah Palin charged the state for her children to travel with her, including to events where they were not invited, and later amended expense reports to specify that they were on official business.

What a scoop!  We new this weeks ago and also knew there was nothing illegal about what she did, but the AP had to run another negative story on this because they are afraid the great black hope, Barack Obama, might lose the election unless they try to smear Palin.

Now look what else they dug up....

"When Palin showed up at the luncheon with not just Piper but also Willow and Bristol, organizers had to scramble to make room at the main table, said Janet Bartels, who set up the event."

This is real news!  Apparently she just brings those children with her and really put everybody out... imagine having to make room at a table for the children... I never heard of such a thing... does this woman not think of others at all?

We couldn't have a mother like her anywhere near the White House could we?  But I'm a little confused.  First the attack was that she simply would not have time to raise a family and be Vice President (even though that would probably take less time and energy than being Governor).  But now the attack is that she took motherhood seriously by taking her children with her on some trips.

Bottom Line: The media is determined to destroy Sarah Palin.

http://news.yahoo.com/s/ap/20081021/ap_on_el_pr/palin_family_travel

J. Cogburn

Proposed Letter to Castro

Written on 08/30/08

My friend Phil and his wife are planning a vacation trip to Cuba.....

Good News.  If you sing a song Castro doesn't like while you are in Cuba, maybe you will not have to be imprisoned 4 years.  But you probably will be hauled into court and fined.

"Following a two-hour trial, the court ordered Gorki Aguila to pay 600 pesos (US$28) and released the 39-year-old singer."

"The fine is big money in a country where nearly everyone, Aguila included, works for the state and takes home an average of 408 pesos (US$19.50) per month."

Before you go on vacation there maybe you should send Castro a letter.  Let me draft one for you.

---------------

Dear Fidel,

I plan to visit your country in January and hope to meet or at least get a glimpse of you since I have admired you from afar for many years.  I love communist dictators and you are one of my favorites.

I know you have imprisoned the citizens of Cuba for 49 years and made them your personal slaves, but in your great wisdom and mercy you always make sure they are employed by the state and pay them an average of $19.50 per month.  Once again may I say this is most generous of you.

In addition you spend an average of $271 a year on free health care for your captive citizens as well.  Everyone knows you would not have to do that because you have complete control over these nobodys that are on the island.

If they get sick you could simply have your staff come up with a phony charge, shoot them in the head, and bury them in a mass graves.  But you don't.  Instead you spend all this money to have the best health care system in the world just for your people.

Even though I'm not a citizen, I still want to personally thank you for all the kindness and mercy you have shown to human kind, especially the citizens of Cuba.  I know they are eternally grateful. Even in Canada we hear the Cuban people are still talking about that subsidized rice cooker offer you surprised them with out of the goodness of your heart back in 2005.

The ones who have accidentally been swept away by the tides and landed on the shores of the US have nothing but praise for you and long for the day they can return to the island paradise you have created.

Once again I'm looking forward to visiting your magnificent country and hope to see you in January.

With Admiration and Support Always,

Phil

http://news.yahoo.com/s/ap/20080830/ap_on_re_la_am_ca/cuba_rocker_jailed

J. Cogburn

Music in Cuba

Written on 08/29/08

My friend Phil says he and his wife are going to take a vacation in Cuba.....

Be sure to take your guitar and sing a few songs for your buddy Castro while you are vacationing in Cuba.  Keep in mind the citizens there have not been allowed to leave the tiny island for a vacation outside the country themselves unless Castro said they could leave for the last 49 years.  Of course most of them could not afford it anyway as Castro only pays them a few dollars per month, i.e., they are slaves.

Just be sure not to offend the dictator or you may end up with 4 years in jail for singing a song. 

Here is the good news.  While you are sitting in prison for 4 long years just for singing a song it will give you time to reflect on how you could have been so stupid as to think Castro was a great and wonderful guy who was good to the citizens of Cuba while at the same time thinking your old friend and President Bush were the bad guys for standing against tyranny and dictators, whether they be Castro, Hussein, or any of the others on the planet who are enslaving their population.

I assure you that your thinking will be much different in 2012 than in 2008 after this experience.

http://apnews.myway.com/article/20080828/D92QV2TO0

RWG

Pirates on the High Seas

Written on 08/25/08

I was worried when I read piracy on the high seas is making a comeback.  Then I was relieved to read where the UN had passed a resolution to stop this.

 

But to my horror and utter disbelief I read,

 

"The U.N. resolution has done nothing to prevent these attacks," says Pottengal Mukundan, the director of Commercial Crime Services for the International Chamber of Commerce.

 

Come to think of it, what has any UN resolution ever done to stop anything?

 

The article indicates it might take military force to deal with the Pirates, but I'm sure Obama could just talk them out of their wicked ways....no doubt Pirates will respond to resolutions and other pieces of paper that condemn their actions.

 

That's what evil men do; they tremble at the thought of someone passing a law or resolution against them that will not be backed up by military force.  Scares them to death!

 

http://www.npr.org/templates/story/story.php?storyId=93893918

 

J. Cogburn

Cost of Gasoline

Written on 05/03/08

Here is a cost of living data point for you.....

 

Around the world, the cost of gasoline ranges from a low of 12 cents per gallon to a high of $10.86 a gallon..

 

http://finance.yahoo.com/family-home/article/104996/Why-Gas-in-the-U.S.-Is-So-Cheap

 

RWG

Dollar Strength

Written on 05/03/08

Regarding costs of living in various countries, these facts are changing rapidly as our currency fluctuates against other currencies.  In the past you could live well in most other countries, but now that has changed for many of them.

 

The dollar may have a short rally here of a few months, but if you look at the long term chart you will see we recently broke below a major trendline going back 30 years.  Normally what happens in this case is that it will go below the line a ways and then rally back to the line.

 

But a major trend line that was support in the past now becomes resistance meaning that once it breaks through to the downside it is difficult to get back above it again.  Then if it fails to do so the next downleg is often swift and painful.  So based on this the dollar may take another huge drop in value in the coming years.

 

RWG

Prayers on Planes

Written on 04/18/08

I'm sick of all these folks who want to show us all how religious they are by engaging in public prayers in airports, on airplanes, etc.  This was a Jewish guy holding up the plane.

 

The muslims now have special areas set aside in some of our airports so they can go through their religous ceremonies.  I'm 100% against it.

 

Numerous morons on the blog said, "it was only 2 minutes... they couldn't even wait 2 minutes?".

I say, those who think 2 minutes is OK, then how about 3, or 4, or 5 or 6?

 

Not one second, do you understand?  You get in your seat and follow the instructions of the flight crew at all times.... no exceptions.

 

The plane normally has its engines running at this point.  Large jets use huge amounts of fuel even when on the runway.  The airlines are already going bankrupt and now you want this guy to cost them more money so he can say his prayers?  He can say his prayers before he gets on the plane.

Delaying all passengers on that plane for personal reasons, religious or otherwise, is a selfish act.  Maybe he should have reviewed the areas of the scriptures that speak of doing unto others as you would have them do unto you.

 

Amen.

 

http://www.msnbc.msn.com/id/24191236

 

RWG