Billy Discusses the News
So today we are going to look at a few news stories and I am going to comment on them and we'll call that the article for the week. Ok? I've been busy.
GM Sells its Profitable Lending Arm for $10.4b
By Micheline Maynard in Detroit
THE board of General Motors has expressed support for Rick Wagoner, the company's chief executive, as GM announced a long-expected deal to sell a majority stake in its financing arm, GMAC, for $US7.4 billion ($10.4 billion).
It marked the board's first public comment on Mr Wagoner since a spate of recent bad news but analysts said it did not indicate unconditional backing.
Indeed, accounting errors prompted a board investigation two weeks ago after one error forced GM to increase its losses in 2005 by $US2 billion to $US10.6 billion.
Sales continue to fall, GM recording a sharp drop nationwide in March, despite pitches for consumers to take advantage of the latest deals.
GM's "March Madness" promotion did little to end the slowdown in sales, while incentives at Ford and Chrysler also seemed to do little to lift overall results.
Total sales at GM fell 14.4 per cent in March, in part because a successful promotion led to abnormally high sales in March 2005. GM is also weaning itself off sales to car rental companies. Ford's sales fell 4.5 per cent; Chrysler posted a 1.6 per cent increase.
In announcing the sale of GMAC, GM's lead independent director, George Fisher, said: "This transaction along with the other progress GM has been making on its turnaround plan is an important milestone.
The GM board on Sunday approved the sale of the 51 per cent majority stake in GMAC to a group of investors led by Cerberus Capital Management. The consortium also includes Citigroup and Aozora Bank of Japan.
Under the deal, which was months in the making, the consortium will pay GM $US7.4 billion, with another $US2.7 billion in cash distributions later, for a closing value of $US10.1 billion. GM said the deal would yield $US14 billion over three years, including the net book value from lease and retail assets retained by GM from GMAC.
Hey, GM good idea selling away the only part of your corporation that makes a profit. That is a sound financial decision. Come on GM, you guys aren't even trying to make money anymore.
If you ask me, what GM should do is keep their financing arm and get rid of the arm that makes automobiles. That will turn GM right around for the better.
Duke Lacrosse Suspended Amid Rape Charges
Team idled for rest of season after black dancer claims she was gang-raped
By Ed Wiley III
BET.com
March 29 — - Duke University President Richard H. Brodhead said Wednesday that he has suspended the rest of the season for the men’s nationally ranked lacrosse team following charges from a Black exotic dancer that several White members of the squad gang-raped her while calling her racial slurs.
The alleged victim, a student at nearby historically Black North Carolina Central University, told police that she had been hired to perform at a private party on March 13. She said that showed up at a wood-frame house on a quiet tree-lined street when she was pulled into a bathroom by three members of the team, who choked her and raped her, The Baltimore Sun reported.
All but one – an African American – of the 47 members of the team were asked to submit to DNA tests. The alleged victim, whose name is being withheld because she is charging that she was sexually assaulted – said that the assailants were all White.
"Sports have their time and place, but when an issue of this gravity is in question, it is not the time to be playing games," Brodhead said at a news conference Wednesday morning.
The team’s three captains, who have refused to comment on the matter, met with Brodhead Tuesday and issued a statement on behalf of the team shortly afterward stating "unequivocally that any allegation that a sexual assault or rape occurred is totally and transparently false."
They also agreed it would be "in the best interest of the university, the community and our families" to forego any more intercollegiate games until DNA results exonerated team members, according to Brodhead.
No charges have been filed.
Damn it, this proves a point I have been saying for years. Lacrosse players are all a bunch of sexual deviants, each and every one of them. This rape story is big news but it's not an isolated incident. Lacrosse players rape people all the time, it's part of their psyche. Anyone who enjoys lacrosse, we should put their names on the sex and make it illegal for them to live near schools or playgrounds. We need to protect the innocent from these damn dirty lacrosse people.
If you think I am exaggerating then lets look at the evidence.
Seriously, does this look like anyone other than a sex freak?
Or how about this picture? Tell me, with all the time in these guys must spend out in the sun, why are they so pale? They are either sick fucks or Irishmen, and since they play lacrosse they are defiantly sick fucks. I'm sure plenty of players are Irish too, but not all of them. However, they are all potential rapists.
Famous People Who Enjoy Lacrosse:
- Garry Glitter
- Mike Tyson
- Marv Albert
- Dave Hilton Jr.
- Reverend Mark Matson
- Jonathan King
Lacrosse people are freaks.
Maryland Wins NCAA Women's Title
Maryland won their first NCAA women's basketball championship title on Tuesday in Boston when they edged Duke 78-75 in overtime.
Kristi Toliver hit a 3-pointer at the end of regulation to cap a 13-point comeback, then the freshman made two free throws with 35 seconds left in overtime to give the Terrapins their first NCAA women's basketball title.
This was Maryland's sixth overtime victory this season after winning the first five on the road. It was also the women's first overtime game since Tennessee beat Virginia in 1991.
Jessica Foley made two free throws with 18 seconds left in regulation to give Duke a 70-67 lead, then Maryland coach Brenda Frese called timeout to set up a play.
Toliver brought the ball down and veered over to the left side before putting through the 3 with 6.1 seconds left.
Duke took a 75-74 overtime lead before Toliver sank two free throws to put Maryland ahead for good.
Marissa Coleman hit the last two free throws for Maryland with 13.4 seconds left. Foley was forced to take a well-covered, off-balance 3 at the buzzer that barely nicked the rim.
Who cares?