Ecotality declared Chapter 11 bankruptcy on Monday.
Compared to other Recovery Act beneficiaries that have failed – like battery maker A123 Systems and electric auto company Fisker Automotive – the deathwatch was short. A July 25th report issued by the Department of Energy’s Inspector General declared Ecotality’s EV Project largely a waste of time and misallocated money.
Then in mid-August Ecotality informed the Securities and Exchange Commission it was in deep financial trouble, with bankruptcy a possibility. A filing showed that the company was unable to obtain additional financing and the DOE had ceased payments to it for the EV Project until the agency could investigate further. DOE also warned Ecotality to not incur any new costs or obligations under the EV Project.
NLPC first raised questions about Ecotality’s viability and origins in October 2011.
Monday’s development is another black eye to President Obama’s green energy agenda, but … Read More ➡
The internet has been abuzz with stories about General Motors competing with Tesla by offering a vehicle that will get 200 miles on an electric charge and cost only $30,000. One headline even declared that GM might be the winner of the competition with the title reading, “GM Takes on Tesla- and Just Might Win.” The only problem is that the car being hyped does not even exist. Nor may it ever.
GM has much experience in the field of green vehicle hype now having a couple of years under their belts with the Chevy Volt. Those in the media that bought on to the hype and helped spread the good (but false) word on the Volt do not seem to have learned from the experience. Perhaps it is GM’s multi-billion dollar marketing budget that helps influence coverage that is not based on facts. Or maybe it is … Read More ➡
A hearing of the House Committee on Oversight and Government Reform last week investigated the Obama administration’s practice of concealing email communications, with former top officials getting grilled about their use of private Internet accounts to conduct government business.
Two of the most egregious offenders were subject to withering scrutiny, although it didn’t last long enough to get very deep. Lisa Jackson, the former EPA Administrator whose FOIA-evadable email address was under the alias “Richard Windsor” – named in part for her dog – was questioned about a message sent to Siemens vice president Alison Taylor in which she asked her to “use my home email rather than this one when you need to contact me directly….”
Jackson, of course, said it was perfectly normal to direct a corporation official that she regulates to communicate with her via methods for which the public has no access. Marlo Lewis of … Read More ➡
Robert F. Kennedy Jr., like his late father, Robert F. Kennedy, long has had a reputation for bluntness. And though a partisan of the Democratic Party Left, he can be as unsparing in his assessment of his allies as he is of anyone else. Just how unsparing was brought home yesterday in the New York Post in an article that summarized several of the younger Kennedy’s entries in a diary back in 2001. Obtained by veteran Post reporters Isabel Vincent and Melissa Klein, the diary underscores many things National Legal and Policy Center has been saying for years, particularly about Jesse Jackson and Al Sharpton. See my Special Report titled Mainstreaming Demagoguery: Al Sharpton’s Rise to Respectability. Kennedy had written that the two civil rights leaders “give me the creeps.” One takes satisfaction in the knowledge that disdain for some of more disreputable members of the nation’s political upper class is an activity not … Read More ➡
It looks like General Motors is attempting to make up for the money it loses on every Chevy Volt in volume as August sales, spurred by recent price cuts, reached an all-time high of 3,351. The fact that the car has been on the market for about three years and initial much-hyped proclamations from GM would have put sales at 20,000 per month by now goes unrecognized by those that think 3,351 vehicles is a lot of cars to sell in a month. To put the sales in perspective, it took Toyota about 2 ½ days to sell that many Camrys with August sales coming in at 44,731. Fortunately for taxpayers, Volt sales are nowhere near those figures. The 3,351 Volt sales came at the expense of over $25 million dollars of federal subsidies.
The big three plug-in electric cars, Chevy Volt, Nissan Leaf and Tesla, led combined plug-in car … Read More ➡
Being an Obama administration stimulus failure doesn’t mean you have to be electric, and it also doesn’t mean the Department of Energy won’t pretend you’re still legitimate when Congressional pressure is on.
The neutrally named Vehicle Production Group, which was loaned $50 million by the DOE thanks to the Recovery Act, revealed in May it had stopped operations in February and laid off 100 staff, after DOE froze its assets. Now, in a typical Obama administration “hope-they-don’t-notice” Friday announcement, DOE told American taxpayers that $42 million of that money won’t be paid back. Apparently there weren’t many assets left to freeze.
About $5 million was recovered by the government. The weekend info release said the rest of the debt was sold at auction for about $3 million to AM General, a Humvee manufacturer.
“After exhausting any realistic possibility for a sale that might have protected our … Read More ➡
So here’s the legacy left in Weld County, Colorado by bankrupt Abound Solar, the crony capitalist-influenced Department of Energy, and Democrat donor/investor/billionaire-ette Pat Stryker: A financially-screwed county government, hundreds who have lost their jobs, and a big, expensive toxic mess to clean up.
But it’s no skin off the jet-setting heiress’s nose as she continues to pour millions into hard-left causes, while the locals affected by the closure struggle.
Commissioners in the sprawling region on the Centennial State’s northern border with Wyoming threw in the towel this week on the hope they could recover much more than a pittance on the $1.8 million they are owed from the bankrupt stimulus beneficiary. The county – which scrambled for over a year to close its Abound budget hole – on Wednesday night agreed to accept a $100,000 settlement. The bumbling bureaucrats at DOE, who found Abound worthy of a … Read More ➡
The auto industry, including Detroit manufacturers, reported strong sales numbers for the month of August. Sales for the industry rang in at pre-recession levels hitting over 16 million units on an annualized basis. While General Motors got its fair share of the wealth, one unusual tactic to drive sales stands out. That is the use of “stair-step” incentives which are paid to dealerships in the month following the reported sales.
Stair-step programs pay dealerships based upon predetermined sales goals being reached at showrooms. As higher goals are attained, more incentive money is allocated towards each vehicle sold. Automotive News reported last week that GM has been “running an unusually broad” level of the incentives. It also seems “unusual” that the brand new Chevy Impala has been included in the program.
Using the stair-step tactic allows GM to report a lower amount of incentive spending for the month. As GM … Read More ➡
When it comes to Tesla Motors, an irrational exuberance has overtaken Wall Street, the Department of Energy, electric car advocates, government interventionists, crony capitalists, techie nerds and Elon Musk fanboys everywhere.
The praise comes rapid fire: $20 billion market capitalization! It’s worth more than Chrysler! Its stock price is at $169! They’ve had two consecutive profitable quarters! They paid back their government loan early! The Model S is the safest car of all time! Consumer Reports says it’s almost perfect! Its batteries don’t burn up!
But the media has not tried to mute the celebration too much with the reality that much of Tesla’s “success” has come thanks to government mandates, subsidies, and taxpayer support. NLPC reported last month, for example, that Tesla’s second quarter results included $51 million in zero-emission credits revenue thanks to a warped California vehicle sales … Read More ➡
NLPC Chairman Ken Boehm was interviewed for CNN’s “The Truth about the IRS Scandal” airing this week on “Erin Burnett OutFront,” at 7 p.m. and 11 p.m. ET. He has this op-ed posted today on the CNN website today:
America can handle the truth. Even if that truth could include a coverup at the powerful IRS.
The IRS mission statement pledges to “enforce the law with integrity and fairness to all.” But public scrutiny has revealed details indicating a level of politicization totally at odds with that.
Look at the two eye-opening developments that have happened at the IRS since May: An acting IRS commissioner resigned, and another powerful IRS official refused to answer questions before Congress, pleading the Fifth Amendment.
Whatever is going on, there is only one way to proceed, and that is a professional and thorough investigation.
Click here to read entire op-ed.
IRS Stalled … Read More ➡