OBAMA ANNOUNCES NEW AUTO PLAN; STOCKS DROP AGAIN
President Obama gave General Motors 60 days and Chrysler 30 days to turn around their businesses yesterday. If they don’t, they will probably be forced to declare bankruptcy.
Obama also relieved the GM head of his position.
With the moves, the stock market plunged again, this time more than 254 points to 7522.
My take: Why not just go ahead and let GM and Chrysler fail? Yes, it would hurt for a time, but what’s going to hurt worse is the fact that we — you and I, the taxpayers — are going to be paying for their continued bailouts for generations to come.
This is getting ridiculous. We are a free-market government. Businesses come and go — they fail.
How long before the government has its hands in every aspect of business?
CALIPARI APPEARS HEADED TO UK
Various sources are reporting that John Calipari will, indeed, leave Memphis for Kentucky.
My take: Why not? It’s a virtual certainty that he will almost double his $2.3 million salary, plus he’ll be in the basketball-crazy Bluegrass State. The fact that he could stick it to Rick Pitino — evidently, they’re not the best of friends – is just icing on the cake.
And that No. 1 recruiting class he had coming to Memphis? It appears he can bring them to Lexington, too.
VIRGINIA GETS ITS MAN
In other coaching news, the God-fearing, flag-waving Cavahoos of Virginia got the next great coach (wait, didn’t we hear that about Dave Leitao?) in Washington State’s Tony Bennett.
My take: Of course, being a Virginia apologist, I wish the guy luck. He has the ACC’s Freshman of the Year, a sparkling new arena and his team plays in the best league in America (OK, maybe not this year, but historically).
But this is what makes me know I’m getting old — he’s 39, a year younger than me. Geez. I even remember him as a Charlotte Hornet.
Let’s see what someone with no East Coast connections can do in the ACC.
The iPod shuffle
Yo! Bum Rush The Show — Public Enemy
Ante Up (Robbing Hoodz Theory) — M.O.P.
That Smell — Lynyrd Skynyrd
Da Da Da — Trio
Ain’t Going Down (Til The Sun Comes Up) — Garth Brooks