1 of 512345

Tag Archives: Detroit

Report cites “utter incompetence”: As Recalls Mount, Was It Worth Bailing Out the ‘Old GM’?

No it was not. There are a few union members who made out like bandits and a few more senior managers who got to keep their very generous pensions. It was worth it for the president because he was able to sway Michigan and Ohio by convincing people the auto bailout was for them. But for the rest of us, the world would be better off if GM had died in 2009.

Read More

How GM betrayed its customers

We’ve said multiple times that GM is a company which deserved and deserves to die. It is a shame that this company still treads the earth along with the rest of the herd of bailout dinosaurs.

Read More

How Motown Gets its Mojo Back, Rand Paul’s “Freedom Zone” Idea

This week Senator Rand Paul, who is likely running for president, suggested that Congress act to pass legislation which would declare Detroit an economic “freedom zone.” That is to lower taxes in Detroit to near 0% levels spurring business activity and development.

We at Against Crony Capitalism wholeheartedly agree with this idea. We even called for something similar last year. Unleash the market in Detroit and the city will bloom.

Few cities have been as ravaged by inept governing and crony capitalism as Detroit has. Because of decades of mismanagement and neglect what was once one of the great cities of the world is now a rusting heap. But it need not remain so.

Read More

Detroit to get $300 million in taxpayer funds

This isn’t a bailout, a bailout would be much larger, but it is a gift (paid for by you) from the Feds. Mostly a political move to placate some of the restless Dem party loyalists who would like far more for Detroit, I am surprised it isn’t a greater sum. In the end it probably will be.

Read More

1 of 512345