Paul Chesser's blog

Boeing Woes Balloon as Battery Fix Remains a Mystery

Boeing 787 DreamlinerWould you be willing to fly on a newly developed jumbo airliner with battery technology that has been known to cause fires, whose exact cause is still unknown, but whose manufacturer has claimed to find a temporary “fix” that would allegedly contain –but not prevent – future flaming flights?

Boeing bets you would. Airbus bets you wouldn’t.

Inspector General Confirms Fun & Games at LG Chem

LGChem logoThe employees of battery maker LG Chem still haven’t found anything to do worthy of their pay since they were caught playing games and watching videos four months ago, and now the Inspector General for the U.S. Department of Energy has embarrassed the company into returning some – but not much – of the $142 million (out of a $151 million grant) in taxpayer money they took.

Gregory Friedman released his report – which was based on an inquiry spurred by the original media stories in the fall about the mostly idle workers in Holland, Mich. – last week. Turns out the reports about workers on-the-clock playing Texas Hold ‘Em and video games, doing Sudoku and crossword puzzles, and volunteering at nonprofits like Habitat for Humanity, were not exaggerations.

Taxpayer Millions, Lithium Ion and Rich People Just Don't Mix Well

Elon MuskUndoubtedly alternative energy and transportation innovator Elon Musk (Flickr photo: Jurvetson) – like his competitor for the taxpayer-funded, six-figure electric automobile market Henrik Fisker – is a smart guy. But will economic and technological realities humble him, or worse, make him look like a fool?

After the experience recounted last week by New York Times journalist John Broder, who test drove the Tesla Model S in frigid conditions that required frequent unplanned recharging stops throughout the Northeast, humility is out of the question for Musk. The jury is still out on inanity.

Interior Nominee Would Likely Continue Bad Policies

Sally JewellConsidering the anti-fossil fuel track record of President Obama and his first-term cabinet members Lisa Jackson (EPA), Steven Chu (Energy Dept.) and Ken Salazar (Interior Dept.), there is no reason to expect that Department of Interior nominee Sally Jewell (photo courtesy Fortune Live Media) would impose a different agenda – especially since the president no longer has to worry about re-election.

Sale of A123 Systems to Chinese Gets Final U.S. Approval

A123 logoA123 Systems has received approval from the Committee on Foreign Investment in the United States for the controversial bankruptcy sale of most of its taxpayer-funded technology and assets to China-based Wanxiang, according to a statement released by subsidiary Wanxiang America Corp.

The authorization was the final major hurdle needed to complete the transaction. A123 had been granted $249 million to refurbish two plants in Michigan for battery production, another $30 million as a subcontractor for another stimulus-funded wind energy storage project, and various other grants and contracts by state and federal governments. But A123’s executives, while making sure their own bank accounts were well-taken care of, ran the company into the ground and now Wanxiang will reap whatever technology value is left, for cheap.

Will Departing Duke CEO Rogers Officially Join the Obama Team?

Jim Rogers and windmill photoNow that he’s been forced out as chairman and CEO of Duke Energy, James Rogers is apparently looking for something else to do, and may now be more receptive to the idea of becoming President Obama’s next Secretary of Energy.

The new speculation, primarily from the Charlotte Business Journal, which is based in Duke’s home city, arose following an interview that Rogers did with Bloomberg News while at the World Economic Forum in Davos, Switzerland. Whereas Rogers used to routinely dismiss suggestions that he might be up for a cabinet post, when asked this time by Bloomberg reporter Tom Keene what he would bring to the job if the president asked him to serve, he was unhesitant.

Boeing Battery Quick Fix May Be Elusive

battery photoThe crisis that has enveloped Boeing over the grounded Dreamliner, at a cost of billions of dollars in losses in addition to what has already been “invested” in it  -- voluntarily by its owner/investors and coercively from taxpayers – exemplifies perhaps more than any other redistributionist corporatism scheme why government intervention is more headache than help.

Boeing's Green Dreamliner Costs the Company, Customers and Taxpayers

Boeing 787 DreamlinerSeemingly endless government subsidies and the impetus to “go green” have made a mockery yet again of those who direct their business toward pleasing politicians and activist groups rather than delivering quality products built upon a proven history of performance.

Such is the case with Boeing’s troubled – and now grounded – Dreamliner.

EPA Transparency Still In Question After Release from Jackson's Alias Email Account

Lisa JacksonThe emails released by the Environmental Protection Agency pursuant to a Freedom of Information Act request, that sought communications under a nom de plume for Administrator Lisa Jackson, only heightened the agency’s obfuscation according to the man who went to court to demand them.

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