Another High Tax Economic Boom! America Hating Rightards On Spree Shooting Watch
Bret Cahill
BY JEFF BATER
Wall St. Journal
The U.S. economy surged at the end of 2009, a bigger-than-expected
gain
driven more by slower inventory liquidation than by consumer
spending.
Gross domestic product rose a seasonally adjusted 5.7% annual rate
October
through December, the Commerce Department said Friday in its first
estimate of fourth-quarter GDP.
Economists surveyed by Dow Jones Newswires had forecast 4.8% GDP
growth
during the fall.
GDP has gone up two straight quarters, rising 2.2% in the third
quarter
after a year of contraction.
http://online.wsj.com/article/SB1000142405274870338900457503289330141...
tml?mod=WSJ_business_EconomyNewsBucket
Fred Weiss
> GDP Expands at 5.7% Rate
That should be reassuring to the 35 million+ Americans on food stamps.
Or the 2.8 million who lost their homes to foreclosure.
But I don't want to be entirely negative. I'm pleased that the country
is getting something back - if just for the moment - for the projected
$1.35 trillion deficit Obama racked up. And that's just for his first
year. Let's assume he's just warming up.
Apres moi le deluge!
Fred Weiss
Wildbilly
<279f3f91-5bb2-4df7...@t34g2000prm.googlegroups.com>,
Bret Cahill <Bret_E...@yahoo.com> wrote:
On jobs, it�s now clear that the Obama stimulus wasn�t nearly big
enough. No need now to resolve the question of whether the
administration should or could have sought a bigger package early last
year. Either way, the point is that the boost from the stimulus will
start to fade out in around six months, yet we�re still facing years of
mass unemployment. The latest projections from the Congressional Budget
Office say that the average unemployment rate next year will be only
slightly lower than the current, disastrous, 10 percent.
Yet there is little sentiment in Congress for any major new job-creation
efforts.
http://www.nytimes.com/2010/01/29/opinion/29krugman.html
"I'm not seeing much of a recovery right now," said Clint Binley,
president of Pallets Inc., a maker of wooden pallets in Fort Edward, N.Y.
Orders have picked up, said Mr. Binley, but rather than hiring more
workers, he has increased hours. He says he doesn't foresee hiring
anyone this year.
Lost wealth and tight credit are keeping household spending in check.
This suggests Americans are likely to increase their spending only once
companies step up hiring and wages. That leaves the recovery more
dependent on firms' confidence than in past upturns, when increases in
consumer spending helped lead recoveries.
<http://online.wsj.com/article/SB1000142405274870338900457503289330141484
2.html>
Obama is going to ask Congress to freeze spending for some domestic
programs for three years beginning in 2011, but don�t worry � not the
Pentagon allowance. It�ll just be a small part of the budget ($250
billion over ten years)�for some tiny, domestic programs. You won�t even
miss it. Everyone, calm down, the wars won�t be affected by the freeze.
This single act marks Obama�s surrender to the deficit hawks. It doesn�t
seem to matter that Nobel Prize-winning economists like Krugs and
Stiglitz have been screaming that the only way out of a recession is
stimulus. In the name of bipartisanship, Obama feels the need to give
the appearance he�s acting fiscally conservative even though, remember,
these cuts are small.
<http://trueslant.com/allisonkilkenny/2010/01/26/dont-worry-budget-freeze
-wont-do-anything-except-make-obama-look-like-a-liar/>
NOAM CHOMSKY: Well, one doesn�t expect to get much content from a State
of the Union address, and there wasn�t very much. But that�s normal.
There were some proposals that made some sense. They weren�t very
definite, but, yes, it�s a good idea to put Americans to work building
the infrastructure of tomorrow, railroads, but not the interstate
highway system. He said that. I don�t think that�s a good idea. It�s a
good idea to take $30 billion of the money Wall Street banks have repaid
and use it to help community banks to give credit to small businesses
and so on. It�s true that we should export more of our goods, but he
didn�t mention the way that has to be done to do that, namely, lowering
the inflated dollar, which the financial industries aren�t going to
like, so I don�t think it�ll happen.
On freezing government spending, it�s not�it�s certainly not�it�s
partially, but not totally, in accord with the public will. So, in fact,
the recent, most recent poll I�ve seen by Pew on people�s priorities,
the highest for increase in spending, by far the highest, over
two-thirds was for education. Well, that�s being frozen. The next was
veterans� benefits; that�s frozen. Next is healthcare, which is
partially frozen. Environmental protection, not there. Energy, not
there. When you get down to about, I think it�s eleventh or so, you get
the military defense, which is increasing�call it �defense.�
Antiterrorism defense is thirteenth; that�s increasing. So, by and
large, the priorities are, I wouldn�t say the opposite of, but not
consistent with the spending block.
It�s a good idea to revitalize community colleges, to cut back, to
modify the student loan program so it doesn�t go through banks. The
childcare tax credit makes some sense. These are all�it�s also good to
reverse the Supreme Court ruling, but he didn�t say�which was a horrible
ruling, but he didn�t indicate how we should go ahead with that. And
most of it is the kind of rhetoric you expect in a State of the Union
address. There were a few scattered things like the [inaudible] be
sensible if there�s�if there�s some way to carry them out.
AMY GOODMAN: Naomi Klein, right now�well, you just flew into Park City,
Utah just before President Obama�s State of the Union address. Your
reaction to it?
NAOMI KLEIN: Well, I mean, we knew the spending freeze was going to
come, but to me, it�s really striking. I think what this moment
represents is the decision, which we all feared would come, to pass the
bill on from saving Wall Street, from saving the elites of this country
from their own mess, a bill worth trillions of dollars, to regular
people in need in this country. I mean, that�s what a spending freeze
really means.
And we have to look at it in the context of the debt crisis that is
occurring at the state level. There�s deficit�huge deficits being run
up. California is the most dramatic example, but you�re already seeing
how students are facing things like 30 percent tuition increases.
Women�s shelters are being closed. So, you know, when the President says
freeze spending, that�s saying to the states, �We�re not going to help
you. We�re not going to bail you out.�
So this is really�this, to me, all comes back to the top-down bailout
that should never have taken place in the first place, the decision that
was made to throw the taxpayer dollars at the banks, at the elites, no
strings attached, not to help the people losing their jobs, losing their
homes. And now the bill is being passed on, because the debt crisis, the
private-sector debt crisis, which started this, the banks racking up
these huge debts, was never solved. It was just moved. It was just moved
to the public coffers.
And now Obama is�this is a Hoover move. This is a Herbert Hoover move.
And I think we have to say very clearly, he is not FDR. And, you know,
in the spirit of Howard Zinn, who passed yesterday, I keep thinking, you
know, what would he say about the State of the Union? And I think he
would tell us to refuse to pay this bill, that we need a debtors�
revolt.
<http://www.democracynow.org/2010/1/28/noam_chomsky_and_naomi_klein_respo
nd>
This is Economic Readjustment in the "World Bank" sense of the phrase
but, now it's us.
See:
Confessions of an Economic HitMan (Hardcover)
~ John Perkins
<http://www.amazon.com/Confessions-Economic-HitMan-John-Perkins/dp/B002N7
1L2O/ref=sr_1_1?ie=UTF8&s=books&qid=1264994941&sr=1-1>
--
"Fascism should more properly be called corporatism because it is the
merger of state and corporate power." - Benito Mussolini.
http://news.yahoo.com/s/ap/20100119/ap_on_re_mi_ea/ml_israel_arresting_activists
http://www.democracynow.org/2010/1/19/headlines
Beam Me Up Scotty
> On Jan 31, 4:25 pm, Bret Cahill <Bret_E_Cah...@yahoo.com> wrote:
>
>> GDP Expands at 5.7% Rate
>
> That should be reassuring to the 35 million+ Americans on food stamps.
>
> Or the 2.8 million who lost their homes to foreclosure.
>
The 15 million out of work are loving it too.
> But I don't want to be entirely negative. I'm pleased that the country
> is getting something back - if just for the moment - for the projected
> $1.35 trillion deficit Obama racked up. And that's just for his first
> year. Let's assume he's just warming up.
>
The numbers have been revised upwards....
> Apres moi le deluge!
>
> Fred Weiss
--
Rod Speed
> Bret Cahill <Bret_E_Cah...@yahoo.com> wrote
>> GDP Expands at 5.7% Rate
> That should be reassuring to the 35 million+ Americans on food stamps.
It is reassuring for those that arent.
> Or the 2.8 million who lost their homes to foreclosure.
It is reassuring for the vastly more that didnt.
> But I don't want to be entirely negative. I'm pleased that the
> country is getting something back - if just for the moment -
> for the projected $1.35 trillion deficit Obama racked up.
Because your clowns completely imploded the entire world financial system, AGAIN.
> And that's just for his first year. Let's assume he's just warming up.
Stupid assumption given that quite a bit of the TARP money has already been repaid.
> Apres moi le deluge!
I dont speak wog, wog boy.
Rod Speed
> Bret Cahill <Bret_E...@yahoo.com> wrote
>> GDP Expands at 5.7% Rate
>> BY JEFF BATER
>> Wall St. Journal
>> The U.S. economy surged at the end of 2009, a bigger-than-expected gain
>> driven more by slower inventory liquidation than by consumer spending.
>> Gross domestic product rose a seasonally adjusted 5.7% annual
>> rate October through December, the Commerce Department said
>> Friday in its first estimate of fourth-quarter GDP.
>> Economists surveyed by Dow Jones Newswires had forecast 4.8% GDP
>> growth during the fall.
>> GDP has gone up two straight quarters, rising 2.2% in the third
>> quarter after a year of contraction.
>> http://online.wsj.com/article/SB1000142405274870338900457503289330141...
>> tml?mod=WSJ_business_EconomyNewsBucket
> On jobs, it�s now clear that the Obama stimulus wasn�t nearly big enough.
We'll see. Unemployment ALWAYS lags GDP growth.
> No need now to resolve the question of whether the administration
> should or could have sought a bigger package early last year.
Its not even resolvable.
> Either way, the point is that the boost from the stimulus
> will start to fade out in around six months, yet we�re
> still facing years of mass unemployment.
You wouldnt know what real mass unemployment was if it bit you on your lard arse.
10% is nothing even remotely resembling anything like mass unemployment.
> The latest projections from the Congressional Budget Office
> say that the average unemployment rate next year will be
> only slightly lower than the current, disastrous, 10 percent.
And it remains to be seen if they have got that right.
> Yet there is little sentiment in Congress for any major new job-creation efforts.
> http://www.nytimes.com/2010/01/29/opinion/29krugman.html
Because 10% isnt something to start slashing wrists about.
> "I'm not seeing much of a recovery right now," said Clint Binley,
> president of Pallets Inc., a maker of wooden pallets in Fort Edward,
Pity about that GDP growth.
> N.Y. Orders have picked up, said Mr. Binley, but rather
> than hiring more workers, he has increased hours.
Unemployment ALWAYS lags GDP growth.
> He says he doesn't foresee hiring anyone this year.
Unemployment ALWAYS lags GDP growth.
> Lost wealth and tight credit are keeping household spending in check.
Consumer confidence is a MUCH more important factor.
> This suggests Americans are likely to increase their
> spending only once companies step up hiring and wages.
Yes, only a fool spends a lot when they may lose their current job.
> That leaves the recovery more dependent on firms' confidence than in
> past upturns, when increases in consumer spending helped lead recoveries.
> <http://online.wsj.com/article/SB10001424052748703389004575032893301414842.html>
Yes, we dont see downturns the worst since 1929 very often.
> Obama is going to ask Congress to freeze spending for some domestic
> programs for three years beginning in 2011, but don�t worry � not the
> Pentagon allowance. It�ll just be a small part of the budget ($250
> billion over ten years) for some tiny, domestic programs. You won�t
> even miss it. Everyone, calm down, the wars won�t be affected by the
> freeze.
> This single act marks Obama�s surrender to the deficit hawks.
Pigs arse it does.
> It doesn�t seem to matter that Nobel Prize-winning economists like Krugs and
> Stiglitz have been screaming that the only way out of a recession is stimulus.
And that is a lie.
> In the name of bipartisanship, Obama feels the need to give the appearance
> he�s acting fiscally conservative even though, remember, these cuts are small.
> <http://trueslant.com/allisonkilkenny/2010/01/26/dont-worry-budget-freeze
> -wont-do-anything-except-make-obama-look-like-a-liar/>
So what are you mindlessly hyperventilating about ?
> NOAM CHOMSKY:
That does it, that fool has never ever had a fucking clue about anything at all, ever.
<all the rest of your mindless silly shit flushed where it belongs>
Wildbilly
"Rod Speed" <rod.sp...@gmail.com> wrote:
Same ol' Speedy. Dosen't even think before he opens up that sewer mouth
of his. OK, dumb fuck, where are your cites or, are you just grabbing
this out of your lazy back-side as usual?
Just loving Bush III, huh?
Rod Speed
> Rod Speed <rod.sp...@gmail.com> wrote
>> Wankerbilly wrote
>>> Bret Cahill <Bret_E...@yahoo.com> wrote
>>>> http://online.wsj.com/article/SB1000142405274870338900457503289330141...
>>>> tml?mod=WSJ_business_EconomyNewsBucket
>> Its not even resolvable.
>> Pigs arse it does.
>>> NOAM CHOMSKY:
<reams of your silly shit flushed where it belongs>
> OK, dumb fuck, where are your cites
Yours are just completely mindless steaming turds, fuckwit child.
John Jones
Fred Weiss
> Fred Weiss wrote
> > And that's just for his first year. Let's assume he's just warming up.
>
> Stupid assumption given that quite a bit of the TARP money has already been repaid.
Possibly because much of it wasn't needed in the first place.
But that aside, from the numbers I've seen the projected deficit for
next year is even higher.
If he listens to Krugman and other Keynesians, it would even higher
than that.
Fred Weiss
Bret Cahill
>
> > Stupid assumption given that quite a bit of the TARP money has already been repaid.
>
> Possibly because much of it wasn't needed in the first place.
>
> But that aside, from the numbers I've seen
Did you git them numbers from a creationist site or a dowser on a
LaRouche site?
Bret Cahill
AZDuffman
>
> BY JEFF BATER
>
> Wall St. Journal
>
> The U.S. economy surged at the end of 2009, a bigger-than-expected
> gain
> driven more by slower inventory liquidation than by consumer
> spending.
>
> Gross domestic product rose a seasonally adjusted 5.7% annual rate
> October
> through December, the Commerce Department said Friday in its first
> estimate of fourth-quarter GDP.
>
> Economists surveyed by Dow Jones Newswires had forecast 4.8% GDP
> growth
> during the fall.
>
> GDP has gone up two straight quarters, rising 2.2% in the third
> quarter
> after a year of contraction.
But didn't Obama state that he LOWERED taxes for the bottom 95% and
sadi he didn't raise them?
And isn't there still 10% unemployment?
What boom?
All I see is a jobless recovery due to the fact that the democrats
imploded the financial system.
Nickname unavailable
ROTFLOL! Peugeot Citroen Recalls Autos Made AT A PLANT IN EUROPE
JOINTLY OWNED, AND MANAGED BY TOYOTA, TOYOTA=POOR QUALITY CONTROL,
POOR ENGINEERING
http://www.bloomberg.com/apps/news?pid=20601087&sid=aFLKiaHJxRMo&pos=5
PSA Peugeot Citroen Recalls Autos Made With Toyota (Update2)
By Rudy Ruitenberg and Cornelius Rahn
Jan. 30 (Bloomberg) -- PSA Peugeot Citroen, Europe’s second-largest
automaker, will recall more than 90,000 cars because they may share a
gas-pedal flaw that prompted Toyota Motor Corp. to recall millions of
vehicles.
The action affects about 10 percent of Peugeot 107 and Citroen C1
models sold throughout Europe, or fewer than 100,000 vehicles, Jean-
Marc Sarret, a spokesman for the Paris-based carmaker, said today in a
telephone interview. The accelerator- pedal defect may cause crashes.
The vehicles were made at a plant in the Czech Republic where Toyota
and Peugeot Citroen jointly manufacture small cars. The factory is
managed by Toyota and produces about 330,000 cars a year, split
between the 107, C1 and Toyota Aygo models, according to the venture’s
Web site.
“We’ll have the same recall campaign as Toyota for the affected cars,”
Sarret said. “The faulty component isn’t used in all the vehicles. It
represents about 10 percent of C1s and 107s in circulation.”
Toyota announced a recall of 2.3 million U.S.-built vehicles on Jan.
21 because the gas pedals may stick in the depressed position, causing
vehicles to speed uncontrollably. As many as 1.8 million Toyotas will
be recalled in Europe, the Japanese automaker said yesterday, and some
cars will be recalled in China.
U.S. Deaths
Sudden acceleration of Toyota vehicles has been linked to 19 deaths in
the past decade, Henry Waxman, chairman of the U.S. House Energy and
Commerce Committee, said in a statement on the committee’s Web site.
Two congressional committees have scheduled hearings on Toyota’s
handling of the matter.
The pedal parts were supplied in the U.S. and in Europe by CTS Corp.,
Juergen Stolze, a spokesman for Toyota in Germany, said today. Toyota
has said that customers will get repair details next week and that
parts from Elkhart, Indiana-based CTS will be replaced or new
assemblies will be installed.
Sarret said no other Peugeot or Citroen models are affected and that
he wasn’t aware of any injuries caused by the problem in the company’s
vehicles. The Times of London reported earlier today that some of the
company’s cars might have the flaw.
The recall affects the equivalent of about 0.5 percent of the cars
Peugeot sells in Europe in a year. The company sold 3.26 million
vehicles worldwide in 2008, and sales in Europe last year were 1.87
million, according to Peugeot’s Web site and reports from the European
Automobile Manufacturers Association.
‘Setback’
“From a purely financial standpoint, it isn’t dramatic, but especially
for a company that builds its business on quality, it’s a real
setback,” said Jens Schattner, an analyst at Sal. Oppenheim Jr. & Cie.
in Frankfurt.
The Peugeot and Citroen models affected were made from 2005 to
mid-2009, Sarret said. Toyota is in charge of operational management
of the factory in Kolin, he said. The plant is the only production
site for 107 and C1 models and made a total of 216,200 of the vehicles
in 2008, according to the company’s Web site.
Peugeot must assume responsibility even though Toyota runs the
factory, Sal. Oppenheim’s Schattner said. The recall probably won’t
hamper cooperation between the carmakers because the plant is
otherwise a success, he said.
Sarret said he didn’t know whether Peugeot Citroen will be able to
reclaim costs from the supplier or insurers.
Peugeot has advanced 78 percent in Paris trading in the past 12
months, giving the company a market value of 5.53 billion euros ($7.67
billion). Toyota lost 14 percent of its market value last week.
Dealer Losses
The National Automobile Dealers Association has said that U.S. dealers
could lose as much as $2.47 billion in revenue as Toyota, the world’s
biggest carmaker, halts sales of some models, including Camry sedans.
In Europe, the company recalled Aygo cars produced from February 2005
to August 2009, iQ vehicles made from November 2008 to November 2009
and Yaris cars made from November 2005 to September 2009. Also on the
list: Auris, October 2006 to Jan. 5, 2010; Corolla, October 2006 to
December 2009; Verso, February 2009 to Jan. 5, 2010; Avensis Nov. 2008
to Dec. 2009; and RAV4 vehicles produced Nov. 2005 to Nov. 2009.
“The potential accelerator pedal issue only occurs in very rare
circumstances,” Tadashi Arashima, CEO of Toyota Motor Europe, said
yesterday in a statement.
The Jan. 21 recall in the U.S. applies to model years 2009- 2010 RAV4
sport-utility vehicles, 2009-2010 Corolla and 2005- 2010 Avalon
sedans, 2009-2010 Matrix hatchbacks, 2007-2010 Camrys, 2010
Highlanders, 2007-2010 Tundra pickups and 2008-2010 Sequoia SUVs,
according to Toyota.
The Toyota City, Japan-based company has also asked for the return of
5.35 million cars in the U.S. because gas pedals may become stuck
under floor mats.
To contact the reporters on this story: Rudy Ruitenberg in Paris at
rruitenb...@bloomberg.net; Cornelius Rahn in Frankfurt at
cra...@bloomberg.net
Last Updated: January 30, 2010 10:55 EST
Nickname unavailable
it looks like toyota maybe lying:the sudden acceleration goes back to
1999 the american supplier cts corp has only been supplying toyota
since 2005:it looks like toyota is trying to shift the blame and dumb
toyota republicans are their target
the pedals were built to toyotas engineers specifications. it appears
that there is more than one problem to blame for this situation. poor
engineering, poor production values, poor quality control.
yet toyota was blaming others for their mistakes.
http://www.bloomberg.com/apps/news?pid=20601110&sid=aj0q1Jc.JkME
Toyota Pedal Maker CTS Thrust Into Spotlight as Recalls Widen
By Jeff Green and Mike Ramsey
Feb. 1 (Bloomberg) -- CTS Corp. was honored three times by Toyota
Motor Corp. for the quality of the accelerator pedals that have now
thrust the 114-year-old electronics supplier into the center of a
global recall of about 4.1 million vehicles.
Toyota’s sales freeze last week intensified the focus on Elkhart,
Indiana-based CTS since it was singled out after the world’s largest
automaker’s Jan. 21 U.S. recall of autos whose pedals might “stick.”
CTS expressed “deep concern” on Jan. 29 about how its parts were being
portrayed.
The supplier’s prominence in the case is unusual because automakers
usually shield such details. General Motors Co. and Ford Motor Co. in
November resisted identifying a partsmaker until India’s Rico Auto
Industries Ltd. said it was the cause of a shortage that shut GM and
Ford factories in the U.S.
“CTS was put on the defensive right away and it was evident there
seemed to be finger pointing going on,” said Rebecca Lindland, an
analyst at consultant IHS Global Insight. “It seemed like they were
the sacrificial lamb.”
Toyota has said its priority remains restarting five North American
assembly lines idled by the recall and getting replacement parts to
dealers for models already sold, not assessing any blame in the
sudden-
acceleration cases.
“We are currently doing all we can to ensure our customers’ safety,”
Hideaki Homma, a spokesman for the automaker, said yesterday. “I am
not aware of any discussion yet on the question of who will bear
responsibility.”
Modified Pedal
CTS began production of a modified pedal approved by Toyota last week
that is being shipped to factories, both companies have said.
In last week’s statement, CTS said the pedals shouldn’t be linked to
any cases of “sudden unintended acceleration,” which it said have been
reported in Toyota autos as far back as 1999. CTS said it first
supplied parts to Toyota for 2005 model-year vehicles. Mitchell
Walorski, director of CTS investor relations, didn’t return a phone
call or e-mail seeking comment.
CTS was pulled into the spotlight on Jan. 21 when Toyota cited the
supplier in an announcement that accelerator pedals might stick in a
depressed position on 2.3 million U.S-built cars and light trucks,
causing them to speed uncontrollably.
On Jan. 26, Toyota said it was suspending sales of eight models in the
U.S., and three days later it disclosed plans for the recall of as
many as 1.8 million Toyotas in Europe. Toyota’s China venture will
recall 75,522 cars.
Slow Release
CTS Chief Executive Officer Vinod M. Khilnani said the flaw in the
pedals was a slow release after being depressed, and that there have
been fewer than a dozen such occurrences in the U.S.
The trouble probably was caused by condensation resulting from
“extreme environmental conditions that go beyond CTS’s original
specifications” from Toyota, Khilnani said on a Jan. 28 conference
call. Toyota came back to CTS with a “more stronger, robust
specification,” Khilnani said. CTS said it has liability insurance
with a $1 million deductible.
“Once Toyota approved the specification CTS delivered and used on its
products, they can’t blame CTS,” said Koji Endo, managing director of
Advanced Research Japan.
The U.S. Transportation Department doesn’t object to a remedy Toyota
is proposing to fix the CTS design, an agency official said. The
department’s safety agency also said Jan. 26 it is studying whether
additional recalls are required by other vehicle manufacturers who may
have installed defective pedals. Toyota said it has been installing a
modified pedal in European models since August.
CTS, formed in 1896 as Chicago Telephone Supply Co., sells electronic
components and sensors to auto, communications, medical, defense and
aerospace manufacturers.
Biggest Customer
Based on 2008 sales, the last year for which full data are available,
Hewlett-Packard Co. was CTS’s biggest customer, with 11 percent.
Toyota had about 3.2 percent of last year’s sales, according to CTS.
The supplier estimates that it has 16 percent to 20 percent of the
global market for accelerator pedals.
Publicity about the recall has helped batter CTS shares, which have
tumbled 18 percent since Jan. 20, the day before Toyota singled out
the pedals in the recalled models. That exceeded the 14 percent slide
for Toyota’s American depositary receipts. CTS fell 7 cents to $7.61
on Jan. 29 in New York Stock Exchange composite trading.
That erased some of the gains in the previous 12 months, when CTS more
than doubled compared with a 49 percent increase for the Standard &
Poor’s Smallcap 600 Index.
CTS was recognized by Toyota in September 2005 with an “Excellent
Launch Award” for the “design, quality and launch coordination” for
electronic throttle controls and pedal assemblies for the Avalon, one
of the models now subject to the recall.
Toyota Award
In June 2006 and again a year later, CTS issued statements after
Toyota honored the supplier for “exceeding quality expectations on the
accelerator pedal modules” built by a CTS plant in Canada that makes
the pedals now being recalled.
“If they manufacture a defective part, they could be held liable,”
said Michael Louis Kelly, a lawyer with Kirkland & Packard LLP in El
Segundo, California. “A plaintiff wouldn’t have to sue them, though.”
Suppliers usually aren’t part of legal actions unless the automaker
can’t be sued, said Kelly, whose firm filed a class- action lawsuit
against Toyota in federal court on Nov. 18. It’s harder to prove fault
at suppliers, which often only build parts to specifications and
aren’t involved in testing them, he said.
Industry researcher Safety Research & Strategies Inc. said Jan. 28 it
documented 2,262 reported incidents of sudden acceleration involving
Toyota vehicles since 1999. Those cases resulted in 815 crashes, 341
injuries and 19 deaths, according to the Rehoboth, Massachusetts-based
group.
Pedal Buyers
CTS also supplies pedals to Honda Motor Co., Nissan Motor Co.,
Chrysler Group LLC and Mitsubishi Motors Corp., Khilnani said. Each
company has its own specifications and designs, and there isn’t a
common application of the Toyota part with other companies, the CEO
said.
After an inquiry into a CTS pedal in China on Ford delivery vans in a
partnership with Jiangling Motors Co., assembly was resumed when the
design was found to be “unique” and not related to Toyota, Jiangling
said in a statement this weekend.
“The relationships between manufacturers and suppliers is very much
symbiotic these days,” said Lindland, the analyst at Global Insight in
Lexington, Massachusetts. “It’s not really beneficial to anyone to be
pointing fingers. But Toyota has an awful lot to lose if they are seen
as responsible.”
To contact the reporters on this story: Jeff Green in Southfield,
Michigan, at jgree...@bloomberg.net; Mike Ramsey in Southfield,
Michigan, at mrams...@bloomberg.net
Last Updated: January 31, 2010 22:52 EST
Rod Speed
>>> And that's just for his first year. Let's assume he's just warming up.
>> Stupid assumption given that quite a bit of the TARP money has already been repaid.
> Possibly because much of it wasn't needed in the first place.
Still means that your just warming up claim is a lie.
> But that aside, from the numbers I've seen the projected deficit for next year is even higher.
Yes, but not that much higher.
> If he listens to Krugman and other Keynesians, it would even higher than that.
And now that we have had two quarters of decent GDP growth, that is unlikely.
Fred Weiss
> Fred Weiss wrote
> Still means that your just warming up claim is a lie.
>
> > But that aside, from the numbers I've seen the projected deficit for next year is even higher.
>
> Yes, but not that much higher.
So I was'nt lying. These are the Administration's own numbers, widely
publicized. I don't have to make them up.
They are projecting deficits *for years to come*!
> > If he listens to Krugman and other Keynesians, it would even higher than that.
>
> And now that we have had two quarters of decent GDP growth, that is unlikely.
Assuming that growth is not merely being pumped by the deficits and
will not evaporate as soon as the pumping stops.
When did you become a cock-eyed optimist? I expect that from Brat
(when it suits him) but you're usually sceptical of *everything*. Why
not this?
Fred Weiss
Rod Speed
> Rod Speed <rod.speed....@gmail.com> wrote
>> Fred Weiss wrote
>>> Rod Speed <rod.speed....@gmail.com> wrote
>>>> Fred Weiss wrote
>>>>> And that's just for his first year. Let's assume he's just warming up.
>>>> Stupid assumption given that quite a bit of the TARP money has already been repaid.
>>> Possibly because much of it wasn't needed in the first place.
>> Still means that your just warming up claim is a lie.
>>> But that aside, from the numbers I've seen the projected deficit for next year is even higher.
>> Yes, but not that much higher.
> So I was'nt lying.
Yes you were. Just warming up means a lot more than it may get a bit higher.
> These are the Administration's own numbers, widely publicized. I don't have to make them up.
And it remains to be seen what acually happens too.
No one predicted that so much of the TARP money would be repaid so quickly.
> They are projecting deficits *for years to come*!
Yes, but thats an entirely separate matter to JUST WARMING
UP when even the shrub ALWAYS ran deficits too.
>>> If he listens to Krugman and other Keynesians, it would even higher than that.
>> And now that we have had two quarters of decent GDP growth, that is unlikely.
> Assuming that growth is not merely being pumped by the
> deficits and will not evaporate as soon as the pumping stops.
The pumping has mostly already stopped, and that growth continued anyway.
> When did you become a cock-eyed optimist?
I have always rubbed fools notes in the fact that when the US
economy survived the great depression and two world wars fine,
it will take a hell of a lot more than this recent recession to sink it.
Particularly when even the shrub realised that the shit had hit the fan
and ensured that there would not be another great depression or worse.
> I expect that from Brat (when it suits him) but you're usually sceptical of *everything*.
I have never ever been skeptical of the fact that the US economy
has survived everything thrown at it and will survive this too.
Or that the west has always survived everything too, and even managed
to work out how to avoid world wars and worked out how to move from
lots of full depressions in the century before 1929 to just one at that time.
Yes, we still havent worked out how to avoid bubbles and busts yet.
And I have never ever been skeptical of the claim that properly regulated
capitalism works a hell of a lot better than any of the alternatives either.
> Why not this?
I've never taken any real notice of what fools like that claim.
Those fools were so stupid that they didnt even notice the GFC
coming, or what would produce it either. So I dont give a flying
red fuck what they predict now with a dismal record like that.
Les Cargill
> On Jan 31, 11:24 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
>> Fred Weiss wrote
>
>>> And that's just for his first year. Let's assume he's just warming up.
>> Stupid assumption given that quite a bit of the TARP money has already been repaid.
>
> Possibly because much of it wasn't needed in the first place.
>
Very much so but all firms had to take it so
that it would not signal weakness.
> But that aside, from the numbers I've seen the projected deficit for
> next year is even higher.
>
> If he listens to Krugman and other Keynesians, it would even higher
> than that.
>
> Fred Weiss
http://corner.nationalreview.com/post/?q=NGE2Mzg1NWYwN2ExMmI1ZGJkZGIyNzA3ODM0Y2JhODM=
--
Les Cargil
Fred Weiss
> Fred Weiss wrote:
> > On Jan 31, 11:24 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
> >> Fred Weiss wrote
>
> >>> And that's just for his first year. Let's assume he's just warming up.
> >> Stupid assumption given that quite a bit of the TARP money has already been repaid.
>
> > Possibly because much of it wasn't needed in the first place.
>
> Very much so but all firms had to take it so
> that it would not signal weakness.
Yes, but apparently no one has yet sent the memo to Rod.
> > But that aside, from the numbers I've seen the projected deficit for
> > next year is even higher.
>
> > If he listens to Krugman and other Keynesians, it would even higher
> > than that.
>
> > Fred Weiss
>
> http://corner.nationalreview.com/post/?q=NGE2Mzg1NWYwN2ExMmI1ZGJkZGIy...
Yes.
My concern right now - even assuming we can avoid hyperinflation - is
a long, slow painful period of relative stagnation, similar to what
Japan has gone through since their bubble burst in the 1990's. If our
national debt now looks bad, Japan's is staggering.
Fred Weiss
Les Cargill
> On Feb 1, 6:14 pm, Les Cargill <lcargil...@comcast.net> wrote:
>> Fred Weiss wrote:
>>> On Jan 31, 11:24 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
>>>> Fred Weiss wrote
>>>>> And that's just for his first year. Let's assume he's just warming up.
>>>> Stupid assumption given that quite a bit of the TARP money has already been repaid.
>>> Possibly because much of it wasn't needed in the first place.
>> Very much so but all firms had to take it so
>> that it would not signal weakness.
>
> Yes, but apparently no one has yet sent the memo to Rod.
>
What a seriously wasteful effort.
So how bored *are* you?
>>> But that aside, from the numbers I've seen the projected deficit for
>>> next year is even higher.
>>> If he listens to Krugman and other Keynesians, it would even higher
>>> than that.
>>> Fred Weiss
>> http://corner.nationalreview.com/post/?q=NGE2Mzg1NWYwN2ExMmI1ZGJkZGIy...
>
> Yes.
>
> My concern right now - even assuming we can avoid hyperinflation
You cannot hyperinflate the world. St. Hayek...
- is
> a long, slow painful period of relative stagnation, similar to what
> Japan has gone through since their bubble burst in the 1990's. If our
> national debt now looks bad, Japan's is staggering.
>
> Fred Weiss
>
So let's not do that, old chap.
"You cannot hyperinflate the world. " man.
Hip hip, cheerio.
--
Les Cargill
Rod Speed
>>>> Fred Weiss wrote
>>>>> And that's just for his first year. Let's assume he's just warming up.
>>>> Stupid assumption given that quite a bit of the TARP money has already been repaid.
>>> Possibly because much of it wasn't needed in the first place.
>> Very much so but all firms had to take it so that it would not signal weakness.
> Yes, but apparently no one has yet sent the memo to Rod.
More than just those forced to take it have repaid it now.
>>> But that aside, from the numbers I've seen the projected deficit for next year is even higher.
>>> If he listens to Krugman and other Keynesians, it would even higher than that.
>> http://corner.nationalreview.com/post/?q=NGE2Mzg1NWYwN2ExMmI1ZGJkZGIy...
> Yes.
> My concern right now - even assuming we can avoid hyperinflation
Corse we can.
> - is a long, slow painful period of relative stagnation, similar to what
> Japan has gone through since their bubble burst in the 1990's.
And the US has never had anything like that.
And there is a reason why it has not.
> If our national debt now looks bad, Japan's is staggering.
Yes, but what matters is that their real standard of living is still very acceptible.
Rod Speed
> Fred Weiss wrote:
>> On Feb 1, 6:14 pm, Les Cargill <lcargil...@comcast.net> wrote:
>>> Fred Weiss wrote:
>>>> On Jan 31, 11:24 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
>>>>> Fred Weiss wrote
>>>>>> And that's just for his first year. Let's assume he's just
>>>>>> warming up.
>>>>> Stupid assumption given that quite a bit of the TARP money has
>>>>> already been repaid.
>>>> Possibly because much of it wasn't needed in the first place.
>>> Very much so but all firms had to take it so
>>> that it would not signal weakness.
>>
>> Yes, but apparently no one has yet sent the memo to Rod.
>>
>
> What a seriously wasteful effort.
Corse song lyrics are nothing like that, eh ?
> So how bored *are* you?
Not bored enough to bother with your lyrics.