Tell me, when was the last time an executive for a private firm, someone not accused of any wrongdoing or convicted of any crime, was forced out of their position by the US government? That is what happened over the weekend at General Motors. Rick Wagoner was forced out by the Obama Administration. By all accounts, Wagoner is a well-respected, hard-working sort who has been working to set a new course for the company. The GM Board of Directors had given him their full confidence and they had gone along with some rather radical changes he made in a company where labor has long had an adversarial relationship with management. Now he is out and the signature on his pink slip is Barack Obama's.
True, Wagoner is not the first CEO to lose his job after taking part in a government bailout. The CEOs of mortgage giants Fannie Mae and Freddie Mac were forced out after the government took over the companies in the fall. Robert Willumstad, the former CEO of American International Group Inc., left the compa...
By Charles M Cooper · March 30 2009
small business, congress, senate, bailout
Government and Economy
Key Republican Changes Position, Now Opposes Card-CheckSenator Arlen Specter's vote may determine the fate of the pro-union card check bill, which would make it easier for workers to form unions. He declared his new opposition to the bill in a March 24 th Senate floor speech. Workforce.com
SBA Launches Online Community for Small Businesses
SBA’s Business Gateway Program has launched the first government-sponsored online community built specifically for small businesses, Community.Business.gov. Small Business Administration
By Charles M Cooper · March 25 2009
small business brief, marketing, small business, economy
As time goes on, and more and more people wade through the hundreds of pages that make up the so-called economic stimulus bill, it becomes more and more evident that the Senate, as much as the House, sees this bill as a Democrat wish-list come true that will, like the New Deal, keep our economy in shambles for years. However tempting, I am not going to dissect the package, except to say that like the House version, it is very long on spending and very short on stimulus. What’s more, the area lacking the most in both bills is small business.
What Small Business Can Expect
The House has come up with a generous $880 million out its $819 billion package, or approximately .1% of the total. On the Senate side, the picture is not much better. It is a little better, to be sure, but hardly something to write home about. According to Senator Mary Landrieu (D-LA), Chair of the Senate Committee on Small Business and Entrepreneurship:
The stimulus bill includes $51...
By Charles M Cooper · February 09 2009
small business, economy, senate, obama
Government and Economy
Senate: Insufficient Votes on Stimulus BillSenate Democrats concede that they lack the votes they need to pass the stimulus bill as currently written. They say that they will seek to cut provisions that would not immediately boost the economy in order to gain the additional support they need.
Obama: Failure to Pass the Stimulus Bill Would be “Catastrophic”
With Republicans working to reduce President Obama's ballooning economic stimulus plan, the President warned of “a catastrophe” if the bill is not passed quickly.
By Charles M Cooper · February 04 2009
small business brief, small business, economy, sales
Government and Economy
Economy shrinkage Rate is 3.8% in Q4
The economy shrank at a rate of 3.8% at the end of 2008, the worst showing in a quarter-century, the result of consumers and businesses throttling back their spending.
Obama: Bailout Will Deal With Executive BonusesThe White House promises that the upcoming financial plan will clamp down on the salaries and bonuses paid to Wall Street executives from companies receiving taxpayer money.
Republican Senators: We Will Fight...
By Charles M Cooper · January 30 2009
small business brief, marketing, small business, economy
Government and Economy
Ledbetter Wage Bill Passes Senate
The Lilly Ledbetter Bill, a wage discrimination bill that presages the pro-labor stance of the Democratic-controlled Congress and White House, has cleared the Senate and could be signed by President Obama within days.
Unions vs. Business: An Early Test for Obama
President Obama is facing an early important test—card-check—the Employee Free Choice Act. It is a key goal for Labor, which is hoping for action this spring; but that has some other Obama allies—seeing the reaction of business interests—very wor...
By Charles M Cooper · January 23 2009
small business brief, small business, economy, insurance
Government and Economy
Small Business "Lost in the Equation" Because banks are refusing to make loans and the government is focusing on big-business bailouts, small businesses are "lost in the equation" and are hurting, says Raymond J. Keating, chief economist with the Small Business and Entrepreneurship Council.
Landrieu: Include SBA in the Cabinet Sen. Mary Landrieu, D-La., the new chair of the Small Business and Entrepreneurship Committee, has called on President-elect Barack Obama to put a Small Business Administration voice in his Cabinet.
By Charles M Cooper · December 18 2008
small business brief, marketing, small business, sales
I know that we are supposed to expect a level of duplicity and shadiness from what is shaping up to be one of the worst Congresses on record, but even this was a new low. Senate Majority Leader Harry Reid (D-NV) and Senate Appropriations Committee Chairman Robert Byrd (D-WV) introduced a $56 billion economic stimulus package that would have spread all sorts of money all over (sorry folks, no checks coming back in this one), while the following language was buried in the midst of it:
SEC. 1602. Notwithstanding any other provision of law, including section 152 of division A of H.R. 2638 (110th Congress), the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, the terms and conditions contained in section 433 of division F of Public Law 110–161 shall remain in effect for the 19 fiscal year ending September 30, 2009.
In layman’s terms, Reid tried to extend the ban on shale oil exploration and development in the Ro...
By Charles M Cooper · September 29 2008
small business, energy, senate, harry reid
