NLPC seeks to promote integrity in corporate governance, including honesty and fair play in relationships with shareholders, employees, business partners and customers. In doing so, NLPC places special emphasis on:
* Asserting that the social responsibility of the corporation is to defend and advance the interests of the people who own the company, the shareholders. True responsibility is fidelity to one’s own mission, not someone else’s, or someone else’s political agenda.
* Exposing the seeking of influence on public officials by corporations, which is the inevitable result of high levels of government spending and intervention in the marketplace.
* Combating practices that undermine the free enterprise system, including philanthropic giving to groups hostile to a free economy.
Thirteen years ago a former executive chef/kitchen manager launched an environmentally friendly cleaning products company to compete with industry giant Ecolab, his former employer, where he had worked and achieved the position of district sales manager.
With this dysfunctional history, is it any wonder why Ecotality is on the verge of bankruptcy?
The San Francisco-based subsidy sucker had a bad August. It began under the pall of a Department of Energy Inspector General’s report which found that slow electric vehicle sales affected the worthiness of Ecotality’s $135 million taxpayer-funded charging network. Money … Read More ➡
For years the Obama Administration maintained that they had no significant involvement in the day to day operations at General Motors as the company was guided through a taxpayer-funded bankruptcy process. A report from the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) now sheds light on the process and confirms that the Administration did, in fact, drive decisions at GM. One such decision saw GM provide taxpayer funds to “top-off” pensions for politically-favored UAW retirees at Delphi while non-union retirees lost the majority of their benefits. Treasury officials previously denied any involvement in the actions.
The non-union retirees at Delphi have been trying to get their story heard for years. The Chair for the Delphi Salaried Retirees, Dennis Black, offered the following statement regarding the SIGTARP report, “SIGTARP’s finding that Treasury was greatly involved in the involuntary termination of our pension plan legitimizes our request that Treasury … Read More ➡
An article at Vindy.com reports that the Obama Administration’s lack of cooperation regarding the Delphi case for the past three and a half years has left the Oversight Committee no choice but to subpoena the documents from Treasury. Here is a full explanation from the piece:
“Congress has made repeated requests with the Treasury for what lawyers representing the salaried retirees estimate could be as many as 30,000 documents that could help determine why they saw their pensions slashed by more
Another fiscal quarter has passed and if you consume most of the mainstream and/or pro-renewable energy media, it’s been another consecutive financial smashing success for luxury plug-in maker Tesla Automotive. That is, if you don’t subtract the buyer’s federal tax credit for each vehicle, or the California emission credits sales scheme, or state tax credits and incentives, or subsidies for battery manufacturers. Also, it’s great for Tesla and CEO Elon Musk if you disregard Generally Accepted Accounting Principles. If you can swallow all that government market distortion, taxpayer largess and books-cooking, Tesla’s Model S is finally taking off!
For almost three months – since its last quarterly earnings report – Tesla and its media sycophants have boasted how it paid back its $465 million Department of Energy loan nine years early(!!). The company was upheld as a rousing success after the high-profile Recovery Act failures such as Solyndra… Read More ➡
The Chevy Volt madness continued this week with General Motors announcing that consumers will see a $5,000 decrease in the price of President Obama’s favorite green wonder-car. Sales of the Volt have been dismal, with most consumers refusing to be as smitten with the car as the President and the few enthusiastic green ideologues who seemed to believe that spending approximately $20,000 more for a car (over a gas-powered rival) that can save them about $3 a day in gas makes sense. What seems to go unrecognized is the fact that the price cut comes at the expense of GM shareholders, not to mention the costs to American taxpayers.
The price for the 2014 Volt will start at around $35,000. Some sources, including GM, deceptively tout the reduced cost of the Volt as being $27,500, reflecting the $7,500 federal tax credit for the car. It is important to realize that … Read More ➡
Another fire, another mysterious technical glitch, and happy-go-lucky Boeing skips along enjoying strong sales, revenues and profits, despite the shadow of uncertainty that hangs over the lithium battery-charged Dreamliner.
The wide-bodied 787, following two fires on Japanese airliners in January that grounded them for months, experienced another blaze on July 12 at Heathrow Airport in London. This time the victim was Boeing customer Ethiopian Airlines, whose Dreamliner had a hole burned through the roof of the fuselage in front of the tail. The cause was attributed to an Emergency Locator Transmitter manufactured by Honeywell International, which contains a lithium manganese-dioxide battery – more about that later.
But the monster-sized lithium ion batteries that caused the January fires were cleared. Still, the Dreamliner has not been without its incidents this summer, which were spelled out earlier this week by travel writer Peter Greenberg. And another issue lingers from the … Read More ➡
Duke Energy’s “green” initiative to gasify coal for allegedly “cleaner” burning at its Edwardsport, Ind. power plant has already been vilified for cronyism, corruption, conflicts of interest, cost overruns, delays, waste, and mismanagement, but at least it became operational in June.
For six days.
The so-called “clean coal” project that was intended to have a carbon dioxide capture-and-storage component suffered breakdowns that left it inoperative on June 13, almost a week after Duke’s formal announcement that Edwardsport was on line, and only a day after the nation’s largest utility showed media members around the plant. The Indianapolis Star broke the news on Friday.
NLPC Associate Fellow Paul Chesser was a guest on the Willis Report on Fox Business Network last night. Here’s a transcript:
Gerri Willis: Well, onto electric cars. Uncle Sam is back to doing what it does best – wasting your taxpayer dollars. Over one hundred and thirty million granted to a California company to build a network of electric car chargers in major cities. Chargers, our next guest says, may not even work for electric cars. Joining me now, Paul Chesser, associate fellow for the National Legal and Policy Center. What are you talking about? These charge centers won’t even work?
Paul Chesser: Well, it depends on what kind of car you have, Gerri. There are three different technologies out there, there is the Japanese, which this particular boondoggle happens to work with, there is another one that most … Read More ➡
The sniping and backbiting behind the financial scenes are escalating as those involved with Fisker Automotive and other green tech flops seek to direct blame for their investment failures. U.S. taxpayers, as usual, have suffered bystander casualties.
The latest controversy surrounds Silicon Valley investment firm Kleiner, Perkins, Caufield & Byers, which has suffered a series of setbacks over its strategy to place sizable wagers on so-called “clean energy” companies. Their tech bettors hit on several huge successes during the 1990s dot-com boom, which history shows was a huge bubble with a nasty burst. The same thing happened with the government-fueled housing expansion and now the renewable energy sector is ballooning for the same reason.
The conflicts with Kleiner Perkins are mostly about disagreements over who said what to whom and when – soap opera stuff. Tesla Motors CEO Elon Musk, recipient of a $465 million stimulus loan guarantee from … Read More ➡
Evidence surfaced about a year ago that the Obama Administration played a role, once again, in choosing winners and losers by protecting friends in the UAW over less-favored groups when the Daily Caller unearthed emails pointing to Treasury’s involvement. The emails confirmed that the Treasury Department was the driving force behind the termination of non-union pension benefits. The evidence suggests that Treasury officials lied when they testified, under oath, that the … Read More ➡