Obama Takes Line-Item Control of Chrysler Budget

Greedy capitalists all but destroyed the economy of the world by writing bad mortgage loans to worse credit risks (but government and the CRA – Community Reinvestment Act – had nothing to do with it, of course).

Greedy capitalists recently were poised to destroy Chrysler Corporation by purchasing way too much advertising in America. This greedy capitalist conspiracy would have caused irreparable harm to the economy of America, too.

Purchasing advertising in America would not only have destroyed Chrysler, but would have driven up the price of advertising so desperately needed for ACORN to add vote fraud organizers (the highest level of economic activity).

Happily, Obama has seized the day, and halved Chrysler’s advertising budget. This savings will reverberate through the American economy, creating 6 million jobs (for vote fraud organizers).

Government officials have always been much smarter than greedy capitalists; but Obama is way ahead, intellectually, of even government officials. Obama understands the economic implications of every economic transaction and will create 10 jobs by blocking the sale of a single gallon of gas, if you listen to him.

Every ton of coal Obama blocks the sale of, will create 20 jobs. To a government official, this makes perfect sense. A smaller economy, economic shrinkage, is needed to make America great. Obama is also a student of history.

Blocking economic activity, as Obama has ordered, will make America great, possibly as great as Zimbabwe or even Somalia.

Obama Halves Chrysler’s Planned Marketing Budget

DETROIT (AdAge.com) — Chrysler wanted to spend $134 million in advertising over the nine weeks it’s expected to be in bankruptcy — the U.S. Treasury’s auto-industry task force gave it half that.

So if GM, which is wrestling with the possibility of a Chapter 11 filing itself, is wondering how much influence the task force will have over marketing, the answer is: plenty. However, transcripts from the U.S. Bankruptcy Court for Southern District of New York, where the Chrysler case is being heard, proved for the first time that the task force at least understands that advertising is a necessary expense — even if it doesn’t think Chrysler needs $134 million for nine weeks of car ads.

Robert Manzo, executive director of Capstone Advisory Group and a consultant to Chrysler, testified at a May 4 hearing that the task force “believed that it was not feasible to not spend anything on marketing and advertising for fear of eroding the image of the brand,” during the company’s planned nine weeks in bankruptcy. However, Mr. Manzo also testified that this “hotly discussed” matter resulted in the task force basically slashing in half the amount Chrysler wanted for advertising in the period.

U.S. Bankruptcy Court Judge Arthur Gonzalez then asked the witness: “Idle plants, why market?” referring to Chrysler’s shutdown of its factories for nine weeks. “The belief on all sides was that it was essential for Chrysler not to lose its brand image in the marketplace,” Mr. Manzo testified. “Advertising and marketing dollars are critical to make sure the right message is out there about Chrysler, what’s happening to Chrysler during this interim period and why Chrysler will be a brand going forward that is one that a consumer should continue to look at as one of their purchase opportunities.”

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One Response

  1. […] Obama Takes Line-Item Control of Chrysler Budget […]

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