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.
You may have heard of the announcement that there will be a congressional investigation into why NHTSA waited six months to notify the public of the crash-tested Chevy Volt which burst into flames three weeks after the crash-test. If you have, it was probably not through mainstream media networks, which seem to be keeping fairly quiet on the story. I have not been able to ascertain a logical reason for General Motors and the Obama Administration’s transportation safety agency to withhold reporting the incident.
At the least, they should have immediately publicized the safety protocol that was developed as a result of the risks that come from a new technology that has been thrust upon motorists at the taxpayers’ expense. Do we have a “Fiery and Fallacious” scandal on our hands, or was there justification for NHTSA and GM withholding the information?
We may have to wait for the congressional … Read More ➡
As is custom with corporate announcements that proclaim their eco-accomplishments, so as to pacify persistent climate alarmists, Frito-Lay said the vehicles would emit “zero” pollutants from tailpipes and release 75 percent fewer greenhouse gases than diesel. The ETs (electric trucks) can allegedly run 100 miles on a single charge, and Frito-Lay says the groundbreaking new haulers provide “a long-term economically viable solution” – apparently to solve global warming.
Regular readers of NLPC should know the Chevy Volt sticker price, before the $7,500 tax credit, is $41,000, and for the Nissan Leaf it’s $35,200. So the cost for an electric delivery truck must be somewhat higher, right? And … Read More ➡
The National Legal and Policy Center (NLPC) today filed a formal request under the Freedom of Information Act (FOIA) with the National Highway Traffic Safety Administration (NHTSA) for any and all communications with General Motors (GM).
The NHTSA is investigating three fires in the battery packs of GM’s Chevy Volt following collision tests, but may have withheld information of this potential safety problem from the public for several months.
The United States government still owns a significant stake in GM. There’s an obvious conflict of interest in a government agency investigating a government-owned company. Moreover, the NHTSA cannot be impartial because it has become a cheerleader for electric vehicles. A November 25 NHTSA statement reads, in part:
NHTSA continues to believe that electric vehicles have incredible potential to save consumers money at the pump, help protect the environment, create jobs, and strengthen national security by reducing our dependence on oil.
NLPC has filed a shareholder proposal challenging Pfizer’s support for ObamaCare. The resolution actually asks for a report on Pfizer’s lobbying priorities. Here is the supporting statement submitted to Pfizer for inclusion in the proxy:
Pfizer played a key role in the passage of ObamaCare, even though a majority of Americans were opposed. CEO Jeffrey Kindler organized pharmaceutical CEOs in support of the bill, promoted a massive advertising campaign, and partnered with Left-wing groups normally hostile to Pfizer’s interests. For these actions, he received a multi-million dollar bonus.
According to media reports, Pfizer and other companies in 2009 made an $80 billion deal with the Obama administration. In return for support of ObamaCare, the companies received promises of a guarantee of customers and insulation from certain kinds of competition. This kind of back room dealing corrupts the political process, generates public outrage, and is inappropriate for an institution like Pfizer
The realization that NHTSA’s delay in reporting its Volt fire may have been motivated by allegiances to Government Motors came after a former NHTSA administrator, Joan Claybrook, stated, “Not to tell them anything for six months makes no sense to me. NHTSA could have put out a consumer alert and I think they should have done so.” She went on to say, “I believe they … Read More ➡
NLPC readers by now have learned there is more than meets the media’s eye when it comes to the Obama administration’s “Green” initiatives, and specifically, the government-subsidized electric vehicle program. Particularly egregious might be how American taxpayers have helped save a troubled EV company in the United Kingdom for its burdened investors.
General Motors has announced it is buying back Chevy Volts from any purchasers who are concerned about safety risks associated with the vehicle. NHTSA is currently investigating fires that occurred after crash tests of the vehicles when the volatile lithium-ion batteries ignited days after the tests. Any buybacks of the vehicles sets the stage for wealthy purchasers to take advantage of lax rules for the $7,500 tax credit available on the vehicle. Essentially, many purchasers can return their Volts and then go ahead and apply for the credit, even though they do not currently own the vehicle and received a refund of what they paid for the car.
Overall abuse of the tax credits for plug-in vehicles is costing taxpayers millions of dollars. A USA Today article back in February estimated false claims for the credits at 20% equaling $33 million just for the first seven months of 2010. It … Read More ➡
On Thursday, I discussed disappointing Chevy Volt sales figures with Neil Cavuto on his Fox Business Network program. Here’s a transcript:
Neil Cavuto: It’s not just me. It is now official. The Volt is a dolt. You’re hearing me all you bloggers? It stinks. The car you have to plug in ain’t exactly selling out, not even close. Get this, for all of last month, 1,139 cars. That is 1,139.
Compare that to Toyota, which sold more than 23,000 Camrys in the same month: 1,139 to 23,000. And now news from GM that the Volt could be in for yet another jolt. Company CEO promising today to buy back Volts from customers worried about reported battery fires.
To a disgusted former GM bondholder Mark Modica. Mark, what do you make of this?
Mark Modica (National Legal & Policy Center): Well, I have moved on from being a … Read More ➡
I made an appearance on the Cavuto show last night to discuss low sales for the Chevy Volt. This came after I had listened in on the sales conference call by General Motors. I recognized a major shift on the call regarding the Volt, which is that GM management is finally starting to hedge on the potential for Volt sales after having hyped the vehicle as being a game changer with projections of demand that far exceeded supply.
Statements such as “It’s much more than just being about sales, the Volt is a magnet to showcase our brand.” give evidence that GM management has been gaming auto journalists regarding the true demand for the vehicle while using a bait and switch strategy to lure consumers into showrooms, all at the expense of taxpayers. More importantly, it seems the pundits may finally be catching on.
It’s another day, and another round of layoffs by a recipient of millions of dollars under the Obama Administration’s renewable energy initiatives, administered by the mismanaged Department of Energy.
This time the Recovery Act largesse – taken out of the hide of taxpayers – went to A123 Systems, Inc. The Massachusetts-based energy storage company was given $249.1 million to help launch two battery-manufacturing plants in Michigan. A123 also received grants and tax credits from the state that could total more than $135 million. In a separate federal grant as a subcontractor for another grantee, A123 received nearly $30 million for a wind energy storage project.
In the Wolverine State, the company will lay off 125 employees at the two plants in Livonia and Romulus. Officials said diminished production by a top customer – Irvine, Calif.-based Fisker Automotive – led to the cutbacks. A123 had expected to deliver batteries for 7,000 … Read More ➡