From Trevor Loudon:
July 28, 2012
This association has been reflected in many of the President’s policies – and appointments.
Today we present documentary evidence, that Ron Bloom, Obama’s “Car Czar” from July 2009 through February 2011, was also in the D.S.A. orbit.
Bloom played an integral role in managing the process that led to the reorganization of General Motors and Chrysler as they teetered on the edge of bankruptcy. In total, the government spent about $80 billion to bail out the companies.
Throughout the bailout, Republicans regularly criticized Bloom for giving favorable treatment to the United Auto Workers union over investors, who lost billions in the car manufacturers’ bankruptcies.
Coincidentally, the U.A.W. is also dominated by Democratic Socialists of America affiliates, including union president Bob King, who was appointed in February 2011, by President Obama, to the Advisory Committee for Trade Policy and Negotiations.
Ron Bloom penned an article for D.S.A.’s Democratic Left, Fall 2006 issue, on the steel industry, but until now there has been no documentary evidence that he was actually a member of the Marxist group.
In May 1979, Ron Bloom wrote an article for Democratic Left, “Fair Share Builds Where Liberals Rarely Tread,” which positively identified him as an activist with the Boston local of the Democratic Socialist Organizing Committee.
Democratic Left, May 1979, page 1
Democratic Left, May 1979, page 7
After leaving the Obama Administration, Bloom served for a time as Senior fellow at the leftist dominated/Obama Administration friendly Center for American Progress.
In February 2012, Bloom became a senior adviser to investment bank Lazard.
“Ron’s skills, experience and relationships will be a tremendous complement to our global franchise,”Kenneth M. Jacobs, Lazard’s chief executive, said in the statement. Jacobs is a member of the Board of Trustees at the leftist leaning Brookings Institution.
The Obama Administration is a toxic blend of socialism and crony capitalism.
It is little wonder Obama chose Ron Bloom, a man with his feet firmly in both camps to save Chrysler and GM for the unions and certain big business elements, at the expense of both shareholders and the American taxpayer.
Trevor Loudon blogs at TrevorLoudon.com, edits the KeyWiki website (an online encyclopedia of the US left) and is the author of a 700 page book on the US President’s communist and Marxist ties Barack Obama and the Enemies Within.
**GM still owes American taxpayers 25 BILLION, yet they find it in their wisdom to do this and think it is all okay***
From the Washington Free Beacon:
BY: Bill McMorris
August 1, 2012
General Motors plans to shell out as much as $600 million to sponsor a European soccer team despite owing $27 billion to American taxpayers.
GM’s Chevrolet logo will appear front and center on the jerseys of soccer powerhouse Manchester United, as part of one of the largest sponsorship deals in U.S. history. GM will pay $60 million per year for the logo—nearly double the $31 million European insurance company Aon paid—despite plummeting sales and massive liabilities.
Manchester United is the world’s most valuable sports franchise, according to Forbes:
The Red Devils still lay claim to … : The world’s most valuable sports team. Forbes estimates Manchester United is now worth $2.23 billion, 19% more than No. 2 Real Madrid, which is worth $1.88 billion.
The deal was announced at a time when Congress is constraining military advertising: The Army withdrew its sponsorship of a NASCAR vehicle as part of the $80 million budget cut, and Dale Earnhardt Jr. also faces the prospect of losing his $26.5 million deal with the National Guard.
Military officials have argued that the sponsorships help attract talent to their ranks. Several lawmakers are attempting to preserve the deals.
GM and its lending arm, Ally Bank, owe U.S. taxpayers $42 billion. The prospects of a full return on investment are looking grim. Ally is on the verge of bankruptcy and its attempt to spin off the mortgage division that sunk it in 2008 is under investigation. GM’s stock has fallen by more than 30 percent since its November 2011 initial public offering. It would have to triple in order for taxpayers to recover the entire $50 billion bailout.
President Obama has touted the auto bailout as one of his biggest successes, while falsely claiming that the companies have paid back American taxpayers.
The car company got more bad news on Wednesday as sales fell 6.4 percent in July, 8.5 percent short of expectations.