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NY Times Chevy Volt Criticism Confounds Proponents

Volt photoThe report by the NY Times that it would take up to 27 years for Chevy Volt buyers to save enough money in gas costs to make up for the high price of the car must be very confusing for apologists of the vehicle. The normal defense for any criticism is to accuse sources of having a right wing hate of the car. But the NY Times? The very vocal Volt defenders, who are quick to attack anyone who doesn't agree that the car is a technological marvel worthy of billions of dollars of taxpayer largess, will have to attribute the left-leaning Times' criticism to something other than a political agenda.

Another Taxpayer-Funded Solar Company Looks Like a Failure

Biden Strickland photoAn Ohio-based solar company received millions of dollars in state and federal subsidies despite government officials’ knowledge that the company was in financial trouble, and now a local newspaper reports little activity at the manufacturer’s Perrysburg plant.

Taxpayers’ Green ‘Investment’ in Battery Company Withers

A123 logoA123 Systems – the taxpayer-funded electric vehicle battery manufacturer that famously shipped duds to Fisker Automotive, which caused one of its luxurious Karma EVs to shut down just before a Consumer Reports test – is now the defendant in an investor class action lawsuit and its stock has tanked to below $1.

Which Pays Fair Share of Taxes, ExxonMobil or GM?

One thing that I have realized about the rhetoric surrounding green energy initiatives and the proclamations by Team Obama glorifying companies like General Motors while vilifying others like ExxonMobil is that the claims and the facts are worlds apart. Voters are led to believe that evil oil companies like ExxonMobil are getting a free pass and not paying their fair share while the supposedly patriotic GM is an American success story which now contributes to society and builds miracle cars like the Chevy Volt which will free the US from foreign oil dependence. One set of facts that is very easy to check on is the amount of taxes each of these companies pays. Following are the facts from the SEC annual financial reports (10Ks) of GM and ExxonMobil.

GM Blames Chevy Volt Owners for Power Cord Problems

Volt power cord photoBeing a politician means never having to say you're sorry. It now seems that the same philosophy holds true with government-owned General Motors. About eight months ago some owners of Chevy Volts complained that charging cords were overheating, sometimes to the point of melting. At the time, GM blamed owners, saying the wall outlets were the culprits. We now finally have GM addressing the safety concerns and agreeing to replace charging cords for all 9,500 Volts that have been sold since production began. But in what is becoming a new public relations precedent, the move is not being called a "recall."

 

Class Action Filed Against Taxpayer-Backed First Solar

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Securities law firms are lining up to get a piece of the action after a class action lawsuit was filed against federally subsidized First Solar, Inc., allegedly because the company failed to disclose the massive costs it was incurring due to defects in its solar panels, leading investors to believe the company’s stock was worth more than its actual value.

Ally Financial Failure Jeopardizes Auto Bailout 'Success'

Ally ad imageAlly Financial seldom gets mentioned when the auto bailouts are discussed. The company was formerly known as GMAC and the 17 billion dollars that taxpayers sunk into the company was crucial for the perceived success at both General Motors and Chrysler. We now learn that Ally Financial has failed a government stress test and, according to Reuters, "fared by far the worst of 19 banks examined."

Chevy Volt – The Prize-Winning Pig

pig imageFresh off the heels of its European Car of the Year award, the Chevy Volt has been named "Vincentric Best Value in America." You just can't make this stuff up. I didn't know that there were so many awards in the auto industry, but the less that the Volt sells, the more awards it seems to win. After this latest award, it dawned on me that the Chevy Volt is eerily like Wilbur, the prize-winning pig from the classic children's tale, Charlotte's Web.

10 Reasons Why Fisker May Be Worse Than Solyndra

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This story has been updated below.

Automotive and green technology advocacy Web sites are abuzz with a story about a former employee of Fisker Automotive who claims the company released its $102,000-plus Karma electric sport sedan prematurely, in order to meet targets set forth by the Department of Energy so Fisker could access funds from a $529 million loan award.

Crotchety Bob Lutz Leads GM’s Defense of the Chevy Volt

Bob Lutz photoAnyone following the Chevy Volt story has seen the internet headlines trumpeting the blog by General Motors' Bob Lutz in which he blasts Bill O'Reilly, Fox News and what he calls, "the rabid, sadly misinformed right." It remains a mystery as to why GM would take a political stance, and seek to identify with one ideological faction over another. It's ridiculous to blame poor Volt sales on a Republican conspiracy. It is also pretty stupid. After all, some of the people who buy cars are Republicans.

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