The Cody Word
  • October 30, 2008 12:10 PM EDT by Cody Willard

    Random Random Thoughts: Auto Industry Bailout To Save Jobs Costs Jobs, Google Trends of Obama and McCain and So On

    It's a random kind of thing
    Came upon a delicate flower
    I can't believe a machine gun sings
    Driveby, driveby  -- Neil Young

    I'll do my usual Weekend Vittles piece tomorrow, but in the meantime, here's a random collection of random thoughts -

    * We definitely need to bail her out, asap.

    Maid-Turned-Realtor Masterminded Las Vegas Mortgage Scam, Prosecutors Say

    How else can we possibly save this economy if people like this poor maid are turned out of their jobs. Oh, wait, only executives and politicians get away with create mortgage scams (we even send them free taxpayer money when the scam goes wrong). Well, them and anyone who's taken on a mortgage they can't now payback.

    * So we can't afford to pick up the citizenry's garbage with tax dollars anymore, but we can afford $2 trillion for Wall Street?

    Chicago May Make Deep Trash-Collection Cuts: Sun-Times Link

    * I thought the whole premise for giving the car companies billions of your tax dollars was because otherwise tens of thousands of people would lose their jobs. How many hundreds of thousands of people have to lose their jobs as the current shareholders fleece the US taxpayer to avoid recapitalizing the current shareholder? Classic Flip It - Jobs won't come back to Detroit until the Big 3 are allowed to fail:

    GM-Chrysler deal to mean big Michigan job cuts

    And on that note, do I have to change the name of my Big 3 on Happy Hour to Big 2 if Chrysler merges with GM?

    * You actually see anything all that wrong with this trend? Fewer people making huge dollars by moving the working citizen's money around and instead creating value through servicing people's alcohol desires is probably a bullish thing in the long run:

    Wall Street's Jobless Go Back to B-School, This Time to Mix Purple Hooters

    * Wonder if there's anything meaningful to extrapolate out of the fact that twice as many people are Googling "Obama" as are Googling "McCain".

    * And finally, you know you're in a bear market when these words are actually printed in the WSJ and not just said ironically on a fake news TV show or something:

    "But so far, investors have rewarded him and, in the process, upended Las Vegas's established financial order. Though Wynn Resorts' stock price has fallen 76% since last October, it has held up better than its peers."

    Steve Wynn

    UPI/Newscom

    "Investors have rewarded him"?! Because his stock is ONLY DOWN 76% in the last twelve months???

    Maybe we're closer to a bottom than I realize. Probably not though. This is gonna still get uglier before it gets prettier IMHO.

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Janice McGinnis

I am a 30 year retired woman, who when hired in the plant in 1977 singned a contract which intitled me a pention and health care, if I lived up to my contract of working 30 years. All these people that sit at desks and talk on XM radio and say that the union holds too much over the companies so they cannot survive, I would like you(the ones that don't think union is needed), come in and put your feet where your mouth is and do a job for just one week, or better yet, for one day. I bet if there would have been a union for the banking crisis, there would not be the need to bail out all the ones that want the taxpayers,(like me),to bail out the banks, so you all can have your investments taken care of. The union has agreed to new employees making half what the salary was, and reduced the employees over the last 10 years or so, so what else do they want??? Now there is that many cars not being bought, from all those employees that once bought cars, and the ones not making the full pay, can't afford to buy the cars now because they have to live on what they make. Unless you have ever worked for a car company, don't tell the American people that you know what is going on. And I in turn won't judge the ones that should have taken better care of their money and not getting into the situation that all of us now have to help bail out. Social security is not getting money from all those job losses and making half the wage is less going into social security. So really, is reducing the workforce, sending jobs overseas, and reducing wages really helping the economy? The auto companies have gotten what they wanted and you people still say it is the unions fault. What more do the companies want?? Please stop judging auto workers unless you really know what you are talking about!!!!!!

November 3, 2008 at 8:53 am

Scott

Having close associations with many US Presidents over the past several decades, the Reverend Billy Graham has been known as “America’s Pastor”. Under a Barack Hussein Obama administration, which of the following clergymen will likely become the next “America’s Pastor”? a. Father Michael Pfleger b. Reverend Jeremiah Wright c. Minister Louis Farrakhan Vote at http://tableofwisdom.com/Poll_N8O8.html

October 31, 2008 at 4:11 pm

Scotty

Great thoughts Cody, Hey Ann, lighten up. Best financial shows on TV-Happy Hour and Cavuto. I vote for real people over real economist how bout you? Financial concerns on hold, biggest decisions tonight-Airheads, Reeces or Snickers. Halloween kids are the shizz, they get so excited, it's awesome.I've been in some arguments over our favorites. It's about the kids tonight. Happy Halloween everyone and be safe.

October 31, 2008 at 1:21 pm

Ann

Your opinions would be so much more credible if you didn't act like a fool on TV. I know jobs are scarce right now, but really, Cody. . .you should go back to your music and stop trying to compete with real economists.

October 30, 2008 at 7:12 pm

Glenn

Cody, Thanks for the links. Did you hear Judge Andrew Napolitano's(sp.) thoughts on the Chrysler-GM talks? In his chat with Stuart Varney, he said something about GM becoming the bank and Chrysler the manufacturing arm of the merged company. What do you think about that? Whenever I think about the continued demise of the car companies, it seems pretty clear to me why as a consumer. Consider my experience over the last year or so. I find out in 2007 Dodge is going to start remaking the Hemi Challenger in 2008. Pictures of the concept car at the Detroit Auto show up on the internet - I am in love. What do I have to do to get one? This is my dream car - had a '73 Challenger with a 318. All I can think about is road-tripping around the U.S. with my wife in this beast! Then comes the first run versions: no hemi-orange-SRT! WTF! O.K., so I'll wait for the 2009 version. 2008 we get - 3% gas guzzler tax - McBama messing with the tax rates - bailout nation - universal healthcare - expanding the empire - $4.00+ gas - union workers wanting to coerce colleagues - counterfeiting by the FRS - savers and renters being plundered - rescuing investors - etc. All baloney. So, Dodge loses a customer, I keep some much needed cash and keep driving my Subaru. Rest in peace, Detroit.

October 30, 2008 at 4:38 pm

about this blog

  • Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company. He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."

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