Chicago

Lobbying Muscle and Green Agenda Blinded Boeing to Reality

Submitted by Paul Chesser on Thu, 01/31/2013 - 12:53

Boeing 787 Dreamliner With the revelation that All Nippon Airways replaced defective lithium ion batteries 10 times, Japan Air Lines replaced “quite a few,” and United Airlines replaced “multiple batteries,” in the months preceding the smoke emergency that grounded their Dreamliners, is there anything that can be said about the technology that can overcome its now-horrible reputation?

SEC Issues Big Fines, Penalties Against Green-Tech Investment Firm

Submitted by Paul Chesser on Wed, 09/19/2012 - 09:30

A123 logo The venture capital redistributionist game that surrounds President Obama’s green energy stimulus doesn’t necessarily require the actual delivery of taxpayer cash to crony corporations. Sometimes the malfeasance appears simply based upon the false promise of government “investment.”

NY Times Discovers Obama's Favorite Utility

Submitted by Paul Chesser on Thu, 08/30/2012 - 10:30

John Rowe photo Attentive NLPC readers were aware of the extent of Exelon Corporation’s activism to gain regulatory favor in support of “green” policies in which it reaped millions of dollars in government grants and mandates, but last week’s lengthy New York Times article about the cronyism-tainted relationship between the Chicago-based utility and the Obama administration revealed a few nuggets.

The story told how Exelon, with top executives as “early and frequent” supporters of the president as his political career ascended, were able to gain more access to the White House than others thanks to their longstanding relationships. According to one Exelon lobbyist, his employer was considered “the president’s utility.”

Fisker’s Private Fundraisers Face SEC Investigation

Submitted by Paul Chesser on Mon, 03/12/2012 - 11:14

A123 logo

The Securities and Exchange Commission has notified the brokers who raised most of the private financing for taxpayer-backed electric automaker Fisker Automotive that charges may be brought against them, in connection with a private offering in 2009.

ShoreBank Successor Named Crooked Contractor to Board

Submitted by Paul Chesser on Tue, 12/14/2010 - 17:15

It's only been four months since the FDIC seized the Obama-favored ShoreBank, changed management, adjusted some of the director oversight, and kept the machine running as Urban Partnership Bank. But it turns out a name change makes no difference when it comes to institutions born, raised and protected under Chicago politics. Crain's Chicago Business reports:

'Firestorm' Promised to Save Politically-Connected Chicago Bank

Submitted by Paul Chesser on Tue, 06/22/2010 - 11:57

ShoreBank logo According to a story over the weekend from the Chicago Tribune, the $135 million that the Obama Administration reportedly coerced from TARP recipients like Goldman Sachs and Citigroup may not be enough to save ShoreBank, the politically connected “community” lender whose big bank bailout was supposed to make it eligible for its own TARP funds. From the Tribune:

The bailout of Chicago-based ShoreBank has hit a serious snag as the Federal Reserve and Treasury drag their feet on whether to provide funding to the ailing South Side lender, sources close to the situation say….

The Treasury is deferring to the Federal Reserve. One source said some at the Fed want ShoreBank to raise more private dollars before it gets government money.