Thursday, April 2, 2009

Free Speech for Morons.

I'm starting a new series on Legally Irreverent, called "Free Speech for Morons." Despite the name of this blog, I actually do revere the rule of law and most laws (except for the dumb ones).

The First Amendment protects things like political discourse and political dissent during turmultuous times, the right to flip off police officers, and free speech for morons (and blog).

So in the spirit of encouraging free speech and political discourse, I will cherry pick morons at their best.

Today, I will feature Glenn Beck. Now... I don't watch Fox News. But I can't help but notice the idiocy of talking heads like Glenn Beck on YouTube.



Glenn Beck is simultaneously a firm believer of the "free market," who has blind faith in General Motor's ability to turn itself around, yet at the same time expects the US government to actively support GM. Why? I thought he loved the free market.

Under Rick Wagoner's tenure, GM's costs have decreased, while its quality have increased. However, he's also failed to recognize emerging consumer demand - initially dismissing hybrid technology (even if it is a bridge technology), and heavily investing in GM's traditional strengths like large SUVs and pickups (while failing to create more competitive sub-compacts/compact cars). Under Wagnor's tenure, GM's shares have devalued by 90%, and GM is burning up cash reserves, and now throwing its apples in plug-in hybrid technology in cars like the Chevy Volt, which is dumb.

GM is burning through cash so quickly it cannot survive absent government "loans." Whether these "loans" will be repaid (and thus becoming bridge loans that help a business get through tough times) vs. becoming sunk costs if GM goes under, will be affected by how GM will be restructured in the next coming months.

Glenn Beck confesses ignorance of Wagoner's "niceness" or abilities, saying that "I don't know, I don't even care," but then takes issue with the Obama Administration's decision to ask CEO Rick Wagoner to resign (in exchange for the US government's continued support), calling it a "mob" tactic.

Since when did the mob ask business leaders to quit their job before handing guaranteed low-interest rate loans to failing companies?

Glenn Beck also confesses that he is a paid spokesperson for GM, but then states that he only has faith in the cars, the ideas, and GM employees - not in the corporation. Beck calls for people to get out of the way - because GM can fix the problem. Uh... so wait... the tax payers are supposed to hand over money and get out of the way? Is that what "free market" means?

Anyway - free speech for morons.

1 comment:

moped said...

Waggoner has been there since 2000, and they have lost about $45 billion since then, the stock has lost I dunnohowmany percent. WTF does the board of directors get paid for if it can't can a guy like this?