Archive for ‘News and Views’

04/24/2010

A Full Ten Percent Of General Motors Bailout Paid Back

By Nicolas Loris

General Motors CEO Ed Whitacre should have thought twice about the title of his Wall Street Journal op-ed, “The GM Bailout: Paid Back in Full.” GM did announce that it would repay the $5.8 billion ($4.7 billion to U.S, $1.1 billion to Canada) remaining balance on the loans the automaker received from the U.S. and Canadian governments. GM is making good on the repayment early – the company had until 2015 to repay the full $8.4 billion loan. But the reality is that this accounts for only 10 percent of the full taxpayer bailout.

The loan repayment is a sign of progress for the struggling automaker, an undeniably good thing. With 90 percent of the taxpayer’s funds tied up in government-controlled equity, there’s still a long way to go to right this ship. Real progress will be made when the government turns GM back to the private sector.   …  

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04/24/2010

Navy Nears Tipping Point As New Threats Rise

By William R. Hawkins

Last month, the Center for Naval Analyses (which now prefers to simply go by its initials CNA) published the disturbing study The Navy at a Tipping Point: Maritime Dominance at Stake? by Daniel Whiteneck, Michael Price, Neil Jenkins, and Peter Swartz. It warned that at its present size, the U.S. Navy cannot sustain its current level of global operations. CNA is a federally funded research and development center serving the Department of the Navy and other defense agencies. The views of its authors do not represent USN or Defense Department policy, but they do seek to inform policy-makers.   …  

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