New Fisker Fire, While Taxpayers Cover Utility Bills for Empty Plant

Fisker logoAnother government-funded electric vehicle has burned.

This time it’s the second fire in a Fisker Karma, which received $193 million out of a $529 million award from a Department of Energy loan guarantee before the cabinet agency cut the company off for failure to meet still-undisclosed milestones. This blaze (video), according to a report on the automotive Web site Jalopnik, occurred in a Woodside, Calif. parking lot while its owner was inside a store shopping for groceries.

In another development, the State of Delaware has been stuck paying more than $400,000 in utilities bills for a vacant factory that Fisker was supposed to occupy and use to manufacture its next electric car model, the Atlantic.

As for the fire, Fisker has acknowledged the incident. 

“We have more than 1,000 Karmas on the road with a cumulative 2 million miles on them,” the company said in a statement published … Read More ➡

VIDEO: Bailed-Out GM’s Future in Doubt

NLPC Associate Fellow Mark Modica was interviewed by Tom Sullivan about GM’s future on Fox Business Network on August 11. Here’s a transcript:

Tom Sullivan: Joining me now is an Associate Fellow at the National Legal and Policy Center, Mark Modica. You follow this GM story carefully.

Mark Modica: I sure do.

Tom Sullivan: Do you agree with the other Mark about the fact that GM is looking pretty good right now?

Mark Modica: I agree with some of the comments. The European situation is a mess, so that is an overhang there. As far as the government getting out – no professional investor would say that you base your exit of owing a stock on what you paid for the stock. The government should have been out of GM. They had the opportunity over a year ago to sell their stake – the taxpayers stake. At … Read More ➡

Taxpayer-Funded A123 May Get a Chinese Bailout

A123 logoMonths ago, after they issued their most recent dismal quarterly earnings report, A123 Systems officials announced they would explore options in order to save the company, leaving the impression they were looking for a buyer. 

On Tuesday the heavily subsidized electric vehicle battery manufacturer released its latest financial bad news, but also disclosed that it also had a potential buyer – from China. According to media reports, just as A123 reported another $82.9 million in second-quarter losses, good news also magically materialized as Wanxiang Group Corp. was announced as a new investor. A123 had reported recently to the Securities and Exchange Commission that its ability to continue as a viable company was “a going concern.”

The good news/bad news announcements continue a trend by A123 in which every time the company has a negative media hit or stock downturn, a new press release comes out to give the … Read More ➡

VIDEO: Taxpayers Fund ‘Ridiculous’ Chevy Volt Village

NLPC Associate Fellow Mark Modica was interviewed by Gerri Willis on the Fox Business Network on August 6. Here’s a transcript:

Gerri Willis: Moving on to a story, I know you are going to love. “In Focus Tonight,” the Chevy Volt village. An entire town dedicated to the controversial taxpayer backed car that so happens to spontaneously combust in flames. The government is teaming up with the private sector to test out its green agenda by dumping these Chevy Volts on an entire community. And did I mention you are helping to pay for this? Joining me now is, Mark Modica with the National Legal and Policy Center. All right, Mark, what is going on here?

Mark Modica: Hi Gerri, yes, this is called the Pecan Street Partnership. Funded with $10.4 million of taxpayer money. Edmonds dubs it Chevy Volt ville. They are giving away not only the … Read More ➡

Military Buying Chevy Volts as Glitches Surface

It seems that the supply of taxpayer money available to support the Chevy Volt is never ending. Add the Department of Defense to the list of agencies tapping into the seemingly endless taxpayer funds to purchase Volts, as reported by Stripes.com. The US Military is buying Volts just as a recent poll at GM-Volt.com reveals that over 12% of Volt owners have had electrical problems with the vehicle.

A Marine Corps (pronounced “kawr”, not “kawrps”) Air Station in Miramar California received a couple of the Volts last month. Chris Manis, deputy director of installations and logistics, spoke of the Marines’ green mission when he stated, “Our goal is to reduce our needs of fossil fuels and lower greenhouse gas emissions,” adding, “We can cut back and still execute the missions we need to complete.” And all this time I thought the military’s role was to protect the country.

Miramar … Read More ➡

Obama Boosts GM With Fleet Sales; Localities Buy Police Cars With Federal Money

Government MotorsGeneral Motors announced an increase in government purchases of 115% in July. This follows June’s jump in government fleet sales of 79%. Just what’s going on? GM has claimed that it is localities (mostly for police vehicles) and not federal purchases driving the increases, but aren’t localities struggling with their budgets? Why do the nation’s police forces all of a sudden need new vehicles? A little research uncovers that the Obama Administration is once again being generous with federal grants to localities to purchase new cars, with one of the primary end recipients of taxpayer money being GM.

It seems dubiously orchestrated that GM would make sure that they attributed the unusual increase in government fleet sales to localities rather than federal purchases. It’s almost like money laundering where taxpayer money gets filtered though grants to localities and then gets back to GM via purchases of police vehicles and … Read More ➡

Rep. Meeks Blames NLPC for Ethics Woes

MeeksIn an interview Tuesday on New York City’s WNYW-TV, Rep. Gregory Meeks (D-NY) denied that he is under investigation by federal authorities, contradicting several previous reports by the New York Times, New York Post and New York Daily News.

The New York Post reported on Saturday that a nonprofit called the Greater Jamaica Development Corporation received subpoenas connected to a broader investigation of Meeks, who has steered millions in federal funds to the group.

As he has done in the past, Meeks attributed his woes to the New York Post and NLPC. Of the most recent reports, he told WNYW-TV reporters David Price and Rosanna Scotto:

They’re all inaccurate. It’s the New York Post… I’ve never been investigated. I am not under investigation. I’ve never been questioned.

Later in the interview, Meeks renewed his assault on NLPC:

David Price: …I think the concern to a lot

Read More ➡

Taxpayers Help Fund Chevy Volt Village

Akerson & VoltWell, I really have to hand it to the Obama Administration and General Motors when it comes to promoting green energy initiatives and the Chevy Volt; if nothing else, they are persistent. Unfortunately, that persistence continues to come at the expense of US taxpayers. The latest folly, as reported by Edmunds Inside Line, involves a $10.4 million grant from the Energy Department to create what Edmunds calls “Chevrolet Volt-ville.”

GM and OnStar have joined a partnership (which includes GE Energy, of course) that had been formed to create a community in Texas called Pecan Street Inc. GM says the community will be home to “the greatest concentration of Chevrolet Volts in the world.” In addition to the tax credits already available to Volt buyers, residents receive another $7,500 rebate for purchasing a Volt or $3,000 for leasing one.

Goals of Pecan Street include delivering “reliable and affordable energy to … Read More ➡

NY Times: $900K Flows From ‘Mysterious’ Donor

New York Times logoThe New York Times has a front-page story today on a political giver named James Robert Williams, who has no visible means of support, but is very generous to both parties and to politicians of different stripes.  From the article:

…one government watchdog group called the pattern of donations extremely troubling. Ken Boehm, chairman of the National Legal and Policy Center, said, “In more than 15 years of investigating political corruption, I’ve never seen a more suspicious set of facts.”

According to the story by reporters Raymond Hernandez, Alison Leigh Cowan and Jo Craven McGinty, Williams lives in a small apartment in a scrubby section of Jamaica, Queens where the average household income is $33,800 and many residents receive government assistance.” The reporters state the obvious that it is “hard to say where the big sums are coming from.”

The recipients include Democrats like Rep. Charles Rangel (NY) and … Read More ➡

VIDEO: Motorists Report Battery Problems in Taxpayer-Subsidized Nissan Leaf

Read More ➡

Page 60 of 126« First...102030...5859606162...708090...Last »