tom moody

Who else can I bail out?

Sun Sep 28, 1:38 PM
DETROIT, Michigan (AFP) - The US Senate Saturday approved 25 billion dollars in loan guarantees for the financially strapped US auto industry, intended to spark a wave of automotive innovation.

The loan guarantees were included in a continuing resolution that included funding for the US government and the wars in Iraq and Afghanistan.

President George W. Bush has indicated that he intends to sign the bill.

"We're very pleased Congress has chosen to act at this critical time," said Greg Martin, director of communications for General Motors Corp's Washington office.

GM had been subject of much speculation that it could be forced into bankruptcy.

The bill, which was approved by the House of Representatives on Wednesday, are the first loan guarantees for US carmakers since Congress approved a similar 675 million dollar measure for Chrysler Corp. in 1980.

Chrysler Chairman Robert Nardelli, however, said this week the loan guarantees should not be considered a rescue package for struggling carmakers. "This is not a bailout," he said.

Under provisions of the new legislation, not only US carmakers are eligible for the guarantees but also suppliers and foreign automakers with plants in the United States that are more than 20 years old -- Nissan and Honda's US operations qualify.

Martin said automakers could use the money for projects such as a new engine plant GM has announced it intends to build in Flint, Michigan.

GM Chairman Rick Wagoner spoke of plans to invest 370 million dollars in a new plant, which will be the exclusive site for production of the gasoline engine or "range extender" for the electric Chevrolet Volt, due out in November 2010.

[hat tip shm]

Speaking of bailouts, this little AP item may have been eclipsed by recent financial news:

House clears huge defense bill, sends it to Senate

By LAURIE KELLMAN – September 24, 2008

WASHINGTON (AP) — Bowing to President Bush's demands, the House passed a mammoth package for the Pentagon on Wednesday that contains a pay raise for troops, billions of dollars for the wars in Iraq and Afghanistan — and some political protection for lawmakers during a tense election season.

The 392-39 vote sent the $612 billion defense authorization bill to the Senate, which was expected to clear it this week.

To earn President Bush's signature rather than a veto, House and Senate negotiators dropped several provisions he opposed. They include a ban on private interrogators in U.S. military detention facilities and what would have amounted to congressional veto power over a security pact with Iraq.

Why any congressman at this point is "bowing to Bush's demands" is a mystery. It's frightening that the US's empire costs in a year equal the amount of a supposed one-time financier bailout. Expect worse under McCain and no change under Obama, who told maniac Bill O'Reilly that he "absolutely" believes there is a war against a noun ("terror").

"Sinebeats 39-40 (Variations)" [6.6 MB .mp3]

Played mostly live on the computer (i.e., very little overtracking) with the Reaktor Sinebeats sequencer.

"Sunshine Stomp (Minimal)" [6.7 MB .mp3]

Another track played mostly live on the computer (i.e., very little overtracking) with the Reaktor Sinebeats sequencer.

uh oh, a series. graffitioid MSPaint or Paintbrush drawings to date: 1 / 2 / 3

"How and When" [3.9 MB .mp3]

4/4 time; 155 bpm. Mostly made with the Reaktor Aerobic synth/sequencer. Two preset sequences are tweaked into multiple variations, beats added and dropped, modulation added, etc. This is the most straight-up use of this synth on this page to date.

David Galbraith - "Lines in Two Directions (Once More and Again, with Feeling)" Soundmuseum.fm (Click "depot" and pray.)

The essence of analog, very warm and sensuous abstract electronic music in a Subotnickian vein. Galbraith has performed with the Experimental Makeup duo (with Michael Mahalchick) and in the Analogos series at Diapason.

Had a hard time finding the tune at soundmuseum. It didn't come up with the search function. Eventually I found the little billiard ball icon in the "Electronic" field and dragged it into the play bar. (These icons change every time the page loads.) Really wish organizations wouldn't use Flash bells and whistles. A simple html list would work fine (but then you could easily save the mp3 and they seem keen to prevent that).

Still, looking forward to checking out the site's other offerings. Work by Hakan Libdo, Tom Fruchtl, etc.