Glass City Jungle

On this week’s Conklin & Company on WTVG Chris Cooper a Financial Planner and Gary Moore from UT College of Business on the Automotive Industry. Second segment was about Glass City (The Movie) and Take Three was with Schylar Meadows and Jon Stainbrook. As always this is not a precise transcript but notes typed while the program is aired live.

News conferences by two of the Big Three was the focus of the first section of Conklin & Company, Gary Moore said GM would be a much leaner company if it’s survives. Chris Cooper said the issue is going to be the longevity cost issue when it comes to pensions for the automotive industry, the State and other industries, all of these legacy costs, they are carrying this huge ball and chain that keeps them from being profitable. Moore says that things were done in the last round of negotiations to take care of some of the legacy costs so it’s not as bad as it used to be. Cooper said if the legacy costs are funded by stocks and the stocks are not worth very much that doesn’t help. Both experts seemed to agree that they (GM) could need more money, the Federal Government wants the bond holders to take 30 cents on the dollar, they are saying wait a minute, we could do better in bankruptcy court, which is what GM does not want. It’s not just GM and it’s workforce, it’s the investors, the bond holders that are going to drive this issue. Moore pointed out there are a variety of categories of bond holders that also impacts on this, the problem is how to get everyone on the same page.

Conklin pointed out the deadline is March 3st, Moore doesn’t think that March 31st is the “drop dead” date, he thinks a plan will be submitted by then, but the question will be do sales increase in the next three months, if they can’t do that, then the whole tone of the process changes. The form of the ownership might change but there will still be domestic auto producers. We can’t have a world power that doesn’t have a strong manufacturing base. Conklin said local Chevy/Buick dealers are still optimistic. Cooper says they’ll still exist but they won’t be what there were, some have called GM “Generous Motors” which they won’t be anymore, they will have fewer and fewer divisions. Cooper thinks GM will survive but they don’t know if they will have to go through some structured form of bankruptcy or bankruptcy. Conklin pointed out Jeep is still in play, Moore said the Jeep line has that traditional strong brand name while it may go down to less shifts they will still be made. Cooper thinks the potential that they will merge with GM or the Jeep brand would be sold.

Next up “Glass City” the Movie, with John Klein and Cole Simon, Trail Dance Film Festival winner in Oklahoma. It’s about a really disaffected character with lots of skeletons in his closet, unhappy with his life on a variety of levels. It appears to have a happy ending without giving the ending away…It took them a year to write the script but they filmed and produced it in 13 days.

Website for more information including the trailer – www.glasscityfilm.com.

Take Three with Jon Stainbrook and Schylar Meadows, first topic was low voltage legislation, how over 100 residents really gave an earful to City Council according to Lee Conklin. Kudos to the City for listening? Stainbrook said he asked what is this all about that two electricians on the Central Committee told him the commercial aspect was good but the home aspect was too much like big brother in requirements and as well as the fee. Conklin asked Schylar if this was good intentions or monetary attempt? Schylar said good intentions but anytime you hit people in the pocket book people are going to be outraged about it. Stainbrook said it could be dangerous, Conklin pointed out no one was aware of a fire that was created by low voltage. Schylar said council came out with a plan (which is not true it was the administration) and it ended up not being done. (There was a great deal of talking over each other which made the next few moments impossible to transcribe.)

Then on the Mayor not going to DC, Schylar said his job is to represent the people, if you can raise $40,000 to go to London you could have found money to go to DC to talk to the President about jobs. Stainbrook was surprised that he didn’t go, and if thinks if he thinks he (The Mayor) should be here, he’s the Mayor, it’s his decision. Schylar asked aren’t you still the Mayor if you don’t belong to these groups? Couldn’t he scrape up the money to go? Conklin pointed out that the Mayor stated the Governor had the decision making power, Schylar said his not going could have some affect. On should the Mayor go before council? Stainbrook said yes, he needs to explain or be accountable. Schylar said we already know it was shady so what difference does it make, then she clarified that she thinks it’s shady, in part due to the whole $9,999 spending. Stainbook said he allocated that money, so he should be asked questions but that’s the way the process is set.

Then the BOE issue firing on a republican supervisor, that Pat Kriner had stated that there was one more Republican than Democrat prior to the elimination of this position. Stainbrook said the way things are set up there are supposed to be checks and balances, it has to be a republican and a democrat there at the same time, anytime you eliminate the republican position and leave the democrat position it’s suspect. Stain repeated his claim that this was not done fairly and admitted he had his dictaphone recording and claims he helped Lynn Olman out with remembering what he said, that Olman did not remember what he had stated, that because of the skulduggery with the BOE this was an issue for him.