Corporate Integrity Project

Scandals involving Enron, Tyco, Global Crossing, Boeing and WorldCom have shaken confidence in America's corporate leaders. 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.
Paul Chesser
09/18/2012 - 09:26

Nissan Leaf photoIn what looks like an attempt to avoid a potentially costly and disastrous recall of its taxpayer-funded electric vehicles, Nissan has dismissed the concerns of its Leaf customers in Arizona and other hot states by claiming the apparent loss of battery capacity is “normal.”

Owners of the company’s dismal selling plug-in have banded together to collectively test their vehicles and see just how “normal” their loss of “bars” on their power indicators are.

view
Mark Modica
09/13/2012 - 09:44

Volt and AkersonA Reuters' article earlier this week created quite a buzz when it suggested that General Motors was losing $49,000 on every Chevy Volt sold. While many continue to debate just how much money GM loses on the politically-motivated car, a more important story on the Volt was reported by Automotive.com last week which explained the increase in August sales numbers for the vehicle. The piece exposes how GM (along with taxpayers) is heavily subsidizing leases and even gets an embarrassing admission from GM on the struggling Volt that, "The whole idea is we're creating a market." And this blockbuster, "There is no plug-in market."

view
Mark Modica
09/10/2012 - 10:06

We have heard the claims over and over again from the Obama campaign; the President "saved" General Motors and Mitt Romney said "let Detroit go bankrupt." The clear implication is that GM never went through the bankruptcy process that Romney suggested. Here's news for voters who didn't pay attention to how, exactly, Obama "saved" GM; $50 billion dollars of taxpayer money was given to GM to get them through a manipulated bankruptcy process. Replacing the word bankrupted with saved does not change the facts. And the fact is, GM DID go bankrupt.

view
Peter Flaherty
09/05/2012 - 13:05

GM/ObamaTonight, the Democratic National Convention will reportedly highlight the "success" of the auto bailout.  Michelle Malkin comments in a column today, and quotes NLPC Associate Fellow Mark Modica:

The claims that GM paid back its taxpayer-funded loans "in full" - a story peddled in campaign ads narrated by Hollywood actor Tom Hanks - were debunked by the Treasury Department's TARP watchdog this summer. GM still owes nearly $30 billion of the $50 billion it received, and its lending arm still owes nearly $15 billion of the more than $17 billion it received. Bailout watchdog Mark Modica of the National Legal and Policy Center adds: "In addition to U.S. taxpayers anteing up, Canada put in over $10 billion, and GM was relieved of about $28 billion of bondholder obligations as UAW claims were protected. That's an improvement of almost $90 billion to the balance sheet, and the company still lags the competition."

view
Paul Chesser
08/30/2012 - 10:30

John Rowe photoAttentive 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.”

view
Mark Modica
08/28/2012 - 07:36

USA Today reports that General Motors will be, once again, temporarily halting production of the Chevy Volt. According to GM, the halt is not due to low sales of the Volt. The article quotes a Chevy spokesman as saying, "We are not idling the plant due to poor Volt sales. We're gearing up for production of the new Impala."

view
Paul Chesser
08/24/2012 - 09:49

Herbert Allison

When is a government watchdog not really a watchdog?

When he rolls over and lays at the feet of his master rather than sink his teeth into a program that he’s been tasked to guard.

Such appears to be the (unsurprising) case with Herbert Allison, Jr. (pictured), a former Wall Street executive (Merrill Lynch and TIAA-CREF) until he was appointed president and CEO of Fannie Mae in 2008, after it was put into conservatorship. Subsequently President Obama named (and the Senate confirmed) him as overseer of the Troubled Asset Relief Program (TARP), the $700 billion asset acquisition fund that bailed out Wall Street financial institutions. He served in that role for about 15 months, until September 2010.

view
Mark Modica
08/23/2012 - 08:57

Akerson and Volt photoSome truths are so obvious that they cannot be denied. But that doesn't stop General Motors and politically-motivated cheerleaders for the Chevy Volt from trying. In the case of the Volt, the truth is that this car has been a dismal failure when considering the amount of hype and taxpayer money that has been spent to produce the supposed green wonder-car. Let's review just how wrong GM CEO, Dan Akerson, has been regarding sales projections for the Volt and how he refuses to take accountability for GM's blunders. 

view
Peter Flaherty
08/21/2012 - 16:20

Akerson photoGeneral Motors CEO & Chairman Dan Akerson has an op-ed in yesterday's Detroit Free Press in response to the growing chorus of criticism of the company in general, and his leadership in particular.  It is rather typical corporate PR, complete with a Teddy Roosevelt quote.

One line is odd, though. Akerson (or his flak) writes:

I believe our culture is our "secret weapon" and is on the way to being a true difference maker for us.

So, how is GM's culture,  according to Akerson?

view
Mark Modica
08/16/2012 - 10:31

Steve GirskyThree years into their forced marriage with GM, the American taxpayers have seen the value of their investment in GM deteriorate by approximately $24 billion, largely due to continuing European losses. Exposure in Europe has contributed to crushing the value of GM's stock due to its chaotic and failing Opel unit in Germany. While government, journalists and Wall Street sympathizers have given the Obama Administration and GM leadership an almost incomprehensible pass on this value destruction and massive loss (presumably due to the macro-economic nature of the crisis), it's time to call for the accountability that this new Board was supposedly going to deliver. 

view
Syndicate content