On Thursday, July 17, General Motors CEO Mary Barra will be back as a witness on Capitol Hill, this time before the Senate Subcommittee on Consumer Protection, Product Safety and Insurance.
Senator Claire McCaskill (D-MO), who has been an outspoken critic of GM's response to the deadly ignition switch defect, chairs the Subcommittee. Indeed, the hearing is titled, "Examining Accountability and Corporate Culture in Wake of the GM Recalls." Another subcommittee member, Senator Richard Blumenthal (D-CT), has been even more outspoken. Both deserve credit for seeking to make GM accountable, especially since some members on both House and Senate committees have pulled their punches on Barra and GM.
Here's the background on the lawsuit as explained by Fred:
On May 4, 2008, Missourians For Cleaner, Cheaper Energy filed a petition with the Missouri Secretary of State, Robin Carnahan, to put Proposition C, the Clean Energy Initiative on the November 2008 ballot in Missouri. This proposition created a renewable electricity standard in the state. The standard requires utility companies to gradually increase their usage of renewable energy annually until 15% of the energy used in the state is renewable.
Should perpetuating racial grievance be the defining mission of a U.S. Attorney General? Eric Holder, who has held the office for the past five and a half years, really believes it is - and acts accordingly. A new book, Obama's Enforcer: Eric Holder's Justice Department (Broadside), presents a strong case for removing Holder from office as a corrective to his many abuses of power related to racial and other issues. In 256 pages, authors John Fund and Hans von Spakovsky pull no punches in revealing how Holder and other department officials routinely have subordinated rule of law to radical politics, all the while stonewalling Congress and punishing internal dissenters. They also, properly, point a finger at Holder's boss, President Obama.
Is General Motors trying to make lemonade out of lemons? In the case of the company's recent string of lemon recalls, there seems to be a strategy to increase showroom traffic by issuing recalls for only those vehicles which do not require high costs to repair. GM CEO, Mary Barra, gave a hint at this strategy during last quarter's earnings conference call.
Senator Robert Menendez (D-NJ) is claiming that Cuban intelligence operatives may have planted reports that he patronized underage prostitutes. According to a Washington Post story on Monday by Carol Leonnig and Manuel Roig-Franzia:
The alleged Cuba connection was laid out in an intelligence report provided last year to U.S. government officials and sent by secure cable to the FBI's counterintelligence division, according to the former official and a second person with close ties to Menendez who had been briefed on the matter.
On May 13, we asked GM to recall Chevy Silverados and other pickups and SUVs with a brake line corrosion problem. GM responded by claiming that it was a "maintenance issue" and therefore not a reason to order a recall.
General Motors continues to deny that there is a problem with rusting brake lines on its vehicles, as noted here yesterday. GM's new Vice President of Global Safety, Jeffrey Boyer, claims that brake line rust "is a maintenance issue that affects the entire automotive industry." However, a search of the National Highway Traffic Safety Administration's (NHTSA) website shows that GM vehicles have about ten times the complaints for brake lines than Ford, Toyota and Honda combined!
NLPC has extensively documented how Tesla Motors has taken advantage of market distortions to reap revenues – including government mandates, subsidies, and taxpayer support – not the least of which have been so-called “zero emission credits” from the state of California. But much of the revenue Tesla enjoyed last year – which often meant the difference between profit and loss – was credited based upon theoretical technological capabilities and not ones actually put into practice.
CEO Elon Musk has also relied on accounting gimmicks to enhance his bottom line over the last 18 months, during which a couple of quarterly earnings reports even showed a profit – albeit under non-Generally Accepted Accounting Principles. Those handsome returns were achieved in part thanks to a scheme administered under the California Air Resources Board in which additional zero emission credits are awarded to vehicle manufacturers based upon the ability for models to “fast fuel.” In the case of Tesla and other electric vehicle makers, the faster a car can recharge to the point it can drive a longer distance, the more credits it receives.
Rep. Charles Rangel (D-NY) faces a primary election tomorrow against State Senator Adriano Espaillat, who came within 1,100 votes of upsetting him two years ago, and Harlem preacher Rev. Michael Wolrund. If elected, Espaillat would be the first Dominican elected to Congress. In a June 6 televised debate, Rangel invoked Espaillat's ethnicity:
Just what the heck has he done besides saying he's a Dominican?...He wants to be the Jackie Robinson of the Dominicans in the Congress, which is ambitious, but the fact is, Jackie Robinson was a star before he reached the major leagues. And he's not a Jackie Robinson.