American Morning
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Monday’s American Morning audience awakened to the bankruptcy of General Motors. While the event was not unforeseen, many remained confused about the bankruptcy in conjunction with the government bailout and presented questions on numerous topics related to the filing.
- Joe: The U.S. Government already bailed out GM. The Hummer was designed for the military, it was the new 50K+ Jeep. The Government already supported GM by buying Hummers, Suburbans and Blazers at inflated prices, with billions of tax payer dollars. How many Government owned Hummers and other GM vehicles (running and in scrap yards) do we the people have in countries all over the world? No really, what is the price of this GM bailout?
- Andrew: I think that GM needs to cut down their prices on cars and trucks not a lot of people are buying new cars and trucks people are buying used cars and trucks now because new cars and trucks are too high
- 5XXXXXXX1: The auto execs had an opportunity to change their business practice years ago and didn't; they were getting their outrageous salaries.
How do you feel about the General Motors’ bankruptcy? How will it affect you? What is your opinion about GM’s future? What questions do you have about the bankruptcy?
The GM bondholder/school teacher was very heavily criticized for her naïveté and her seemingly alternative agenda against President and Mrs. Obama.
- Angus C: I am disgusted that you would bring that ditzy teacher on this morning whose only agenda was to try to bash Obama. I don't believe she was genuinely upset about the bonds. I expect this kind of nonsense from Fox News, not CNN. The very last comment about Michelle Obama was telling of her real position. If the government did not intervene with GM her bonds would be worth zero.
- L.T.: GM bondholder crying about not having a say, is wrong. When she and America voted G. Bush pres. she and they BANKRUPTED the U.S. and GM. creating the failures from surpluses to deficits and gave TAX breaks for Hummers.
- Bob: Today, Monday, on breaking news, a women was interviewed that invested $70,000 in GM six years ago. She was complaining about losing some of her money in the GM reorganization. Your reporter should have taken a few minutes to ask her if she understood that stocks and bonds all have a risk and that is the reason they generally provide more return than CDs or the money market. Please don't have that air brain on again – I am happy that she isn't teaching my grandchildren.
- Gwen: This is the first time I've ever written in but felt I should do so. First, this is regarding the so-called teacher who was on TV at approx. 5:30am Central time. She was upset about losing most of the $70,000 in GM investment and I understand her frustration. Many people have lost money during these economic problems. This lady readily wanted to blame the President for her lost, but no one explains that the President is working as hard as he can for the country with what he was handed when coming into office. If GM had not received the stimulus money, the GM retired workers would not have continued to receive their retirement, pension, and other benefits. I feel this needs to be explained to the American people, since there are so many criticizing the president every move he makes. Secondly, I was very upset with the comment she made regarding Michelle Obama's comment during the campaign about being proud of being an American only after her husband was campaigning for the presidency. She made a comment about how would Michelle feel if she was her children's teacher. This woman was out of order; these kids should never be mentioned in any political manner. This lets us know what type of teacher she really is. It appeared to be an attack on these sweet little Obama girls. She needs to come back on TV and explain her comment. I want to know what she was meaning.
- Rod: Where did you get that Gm bondholder you interviewed this morning from? And what may I ask was your purpose in talking with her? Mr. Obama just did a humane act. He pulled the plug on a life support patient that was never going to make it. Where has this bondholder been for the past decade? And she teaches our children? Now that in and of itself is a very scary thought.
What did you think of the interview with the schoolteacher/bondholder? Was she right to blame the government for the failure of GM?
Judging Sotomayor
During his presidential campaign, President Obama suggested that he hoped to have an administration that would be post-racial. In other words, not hung up on matters of race. But several Republicans say Judge Sonia Sotomayor's own words have put the issue of race front and center in her nomination to the Supreme Court.
Abortion providers face serious threats
A 51-year-old man, identified by police as Scott Roeder, has been charged with the murder of abortion provider Dr. George Tiller. Tiller was gunned down in Wichita, Kansas at his church yesterday.
Diane Derzis owns the New Women Health Care Clinic in Birmingham, Alabama, a clinic that provides abortions and has for more than three decades. She spoke to Kiran Chetry on CNN’s “American Morning” Monday.
Kiran Chetry: You knew Dr. Tiller for years. What was your reaction when you heard about this shooting?
Diane Derzis: Absolutely stunned…also not surprised. We've all known that something like this was going to happen. The question was who was it going to happen to?
Chetry: Your clinic was the one that was bombed in Birmingham, Alabama, by Eric Rudolph, the suspect now serving time because of that.
Derzis: Right.
Chetry: What is it like going to work knowing you have a target on your head?
Derzis: It's been like that for many years. You know, every abortion provider in this country knows what kind of atmosphere we work in. We have these people in front of the clinics…These antics would not be allowed in any other business, but it's part of what we do. I think you would have the hundreds of abortionists tell you the same thing that we are all proud of what we do, we love what we do, that we do serve women. And that we do so knowing what the risks are.
Chetry: When you say you love what you do, can you explain more about that for people who understand what a contentious situation it is. It's a choice that no one wants to have to make, people make it obviously. But when you say you love what you do, explain that.
Derzis: You know, you can't meet and talk with the women that we see on a daily basis and not know that what you're doing is right and moral…And Dr. Tiller, the women he saw…he was the last resort. These were women who had wanted to be pregnant, who valued their pregnancies and for whatever reason were forced to terminate. And I think that's the important thing is we know what kind of a role we place in the community…no one would choose to do this for a job. It's a calling.
Bondholder furious over GM bankruptcy
General Motors turns to bankruptcy today in the hopes of finding a new start. The move comes after a majority of those holding $27 billion in GM bonds agreed to swap that debt for a stake in the new General Motors.
Debra June is a small bondholder who six years ago invested $70,000 in GM bonds. She predicts that investment is now worth less than $200. She spoke to John Roberts on CNN’s “American Morning” Monday.
John Roberts: You invested $70,000 in GM bonds some six years ago. As a result of this deal, that is going to be converted to equity shares. What's that investment worth now?
Debra June: Well, what happened, John, I got this booklet at the original thing. This is a 200-page booklet and they sent this in the mail and the offering was two shares of stock for every $1,000. That's 140 shares of stock. They said originally in the booklet it was going to be 225 shares, but as you kept reading the booklet it said they were going to convert that to 101 reverse-split, which would be two shares of stock. $70,000 for 140 shares of stock.
There was no way I was going to take the deal. Then they came out and they sweetened the deal. And I tried to contact General Motors. I left a message with the people I called up. I talked to the people on the phone. I e-mailed two e-mails, “Please let me know what the deal is.” I'm with GM Bondholders Unite, the 60-plus group and also the Main Street Bondholders. What they're doing to the people is ridiculous. It's horrible. You're wiping out common people that saved money. I'm not a corporation.
Roberts: No, you're a school teacher, we should point out. So $70,000 is a huge amount of money to you.
June: It is. It is. And it's a shame. I mean what they're doing, they're saying 10% and this and that. I don't know what they're doing. People out there have saved their money. We've done the right thing. I pay my bills and here all of a sudden, they want to give me two shares. 140 shares of stock.
Roberts: And that stock, all in total is worth about what, $200?
June: I believe so right now.
Roberts: Maybe less than that.
June: Even less. When they regroup, even if the stock was $10. That's unbelievable. I mean I can't imagine someone doing something like that.
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