While sales of the Chevy Volt languish, the maker of the all-electric and better-selling (but not great-selling) Nissan Leaf maintains that his company’s fortunes and that of his alternative vehicle have a promising future – with two big “ifs.”
On Friday NLPC reported that the Department of Energy may have made a bad bet on Ecotality, the car-charging company that is heavily dependent on $115 million in government grants to deploy stations for electric vehicles through its EV Project. It turns out that DOE may not only be gambling taxpayer funds on a shaky company, but may also have dumped a bunch of money into a technology with a questionable future.
Say what you want about Duke Energy and the often-injudicious CEO James Rogers, but at least he is focused on his company’s profitability and the interests of shareholders.
Last week he composed an op-ed for The News & Observer of Raleigh in which he praised Democrat Sen. Kay Hagan and Republican Sen. John McCain for their introduction of the Foreign Earnings Reinvestment Act. The bill would give American companies a “holiday” from the 35 percent U.S. corporate income tax, enabling businesses to – as James Valvo of Americans for Prosperity explained – invest in capital and R&D, hire and train employees, and pay dividends to shareholders.
Last week we had the marketing whizzes at General Motors apologizing for its "reality sucks" ad campaign (see story here) around the same time that Chevy dealer and congressman, Mike Kelly, was revealing that there is very little demand for the much-hyped, taxpayer-funded Chevy Volt. The reality of the limitations of the Volt seems to be something that GM execs do not want to face. Worse yet, Government Motors continues to try and convince the American taxpayers, who spent billions of dollars to develop and sell the Volt, that demand is wonderful and it is supply that is lagging.
After enduring years of Chevy Volt hype, we now get a new "new best thing" from General Motors in the form of an electric version of the Chevy Spark. And I have it on good authority that the Spark will be made in Korea.
The media seems to be pretty excited about the prospects for yet another green vehicle entry from Government Motors, despite the fact that the Volt did not exactly live up to the hype. Well, fool media once, shame on GM; fool media twice, shame on media.
In the aftermath of the Solyndra scandal, in which $535 million guaranteed by taxpayers for the solar company’s loan has been lost, President Obama told ABC News his people “felt that it was a good bet.”
Submitted by NLPC Staff on Thu, 10/13/2011 - 13:03
Paul Pelosi, husband of House Minority Leader Nancy Pelosi, will reportedly make millions of dollars from a previously undisclosed real estate venture in Mrs. Pelosi's home state of California. Mr. Pelosi is a real estate developer and an investment banker and entered into this project with the father of the current Ambassador to Hungary, as reported by The Washington Times earlier this week. Mrs. Pelosi helped the ambassador secure her the post.
The merger hearings for Duke Energy and Progress Energy before the North Carolina Utilities Commission were supposed to be the last major hurdle for the deal to be approved, but now the concerns of a small coastal city and a federal government regulatory agency have cast last-minute doubts. It turns out the demands by environmental groups for Duke to pay more money into weatherization boondoggles were minor irritants compared to the threat posed by the Federal Energy Regulatory Commission.
General Motors continues to claim that demand will drive Chevy Volt sales and 10,000 of the vehicles will be sold in 2011, even as September sales came in at a still disappointing dismal rate of 723 units sold. GM has staked its credibility on the success of the much-hyped hybrid. The Obama Administration also risks another embarrassment if Volt sales continue to underwhelm following the Solyndra scandal that saw a similar failed green energy initiative lead to a 500 million dollar loss on its taxpayer funded gamble. Now we learn that GM has been selling the $40,000 plus vehicles for as low as $29,500 each according to the gmauthority.com site. How far will GM and the Administration go to pump sales figures to persuade the public that the Chevy Volt is a green success story that justifies the spending of billions of taxpayer dollars on such initiatives?