What's Hot
07/02/2015 - 10:49

Former New York Senator Malcolm Smith was yesterday sentenced to seven years in prison for bribery and related offenses. He was convicted in February. A former majority leader in the New York Senate, Smith was defeated for re-election in 2014.

Smith is the latest associate of U.S. Rep. Gregory Meeks (D-NY) headed to jail. Formal investigations of several New York politicians began in 2010 after the National Legal and Policy Center (NLPC) exposed corruption through stories in the New York Post, New York Times and New York Daily News.

07/02/2015 - 10:12

Elon Musk ModelSIt’s been six years since electric vehicle manufacturers enjoyed their windfall from U.S. taxpayers via the stimulus, but the thirst for subsidies, and pain from financial losses, have not waned.

The pursuit of government goodies continues apace for Tesla Motors, even more vigorously after the Los Angeles Times reported last month that CEO Elon Musk depends on more than $4.9 billion in corporate welfare for his companies, which also include SolarCity and SpaceX.

06/26/2015 - 09:43

General Motors seems intent on becoming the global leader in producing money-losing vehicles that attempt to compete with Tesla. The latest so-called Tesla Killer from GM is the Chevy Bolt and the hype is beginning with media articles such as With Jab at Tesla, GM Amps Up Chevy Bolt Promotion, Testing. GM shareholders need this latest sequel to the Tesla Killer series as much as movie aficionados need another sequel of Police Academy.

06/24/2015 - 12:34

Alana Goodman of the Washington Free Beacon details today how Cheryl Mills, one of Hillary Clinton’s longtime underlings, apparently collected a paycheck from New York University at the same time she was serving as Chief of Staff of the State Department. According to the article:

After joining the State Department in the beginning of 2009, Mills continued to serve as general counsel for New York University for several months. She also sat on the board of the “NYU in Abu Dhabi Corporation,” the fundraising arm for the university’s UAE satellite campus. The school is bankrolled by the Abu Dhabi government and has been criticized by NYU professors and human rights activists for alleged labor abuses.

06/23/2015 - 12:12

Whether one sees New Jersey Governor Chris Christie as confronting or punting, it’s hard to deny he knows a crisis when he sees one.  The State Supreme Court sees one as well.  On June 9, the Court ruled 5-2 that Christie was within bounds in delaying two years of contributions, nearly $2.5 billion, to the state’s chronically underfunded public-employee pension system.  The ruling, a clear blow to the unions who brought forth the suit, for now averts a fiscal calamity.  Critics claim that Christie, expected shortly to enter the Republican presidential race, broke a law he signed in 2011, passing the buck to his successors.  Supporters counter that the ruling gives the legislature breathing room to fix a condition resulting from years of excessive union contract demands.  The latter is a familiar story in other states, too.

06/18/2015 - 08:59

Earlier this month, the Wall Street Journal reported that the United Auto Workers union (UAW) was drawing up contingency plans to strike if upcoming negotiations with General Motors, Ford and Fiat Chrysler Automobiles do not satisfy UAW officials. The UAW is leveraging the good timing of the negotiations, which are occurring at the same time as the auto industry’s cyclical top.

06/16/2015 - 08:35

Duke EdwardsportThe monument to former Duke Energy CEO Jim Rogers’s boondogglery – a “clean coal and carbon capture” power plant in Edwardsport, Ind. – has become the rate-busting gift that keeps on giving.

Over the weekend the Indianapolis Star reported that the facility that Duke Energy’s Indiana president called “state-of-the-art” continues to have premature breakdown and decay problems. Repair costs are likely to be passed on to customers, who have already seen their electric bills increase by up to 16 percent because of construction estimate overruns.

06/15/2015 - 13:03

Access to reliable, high-speed Internet is almost given in today’s America.  But should it be subsidized?  The Federal Communications Commission thinks it should, now more than ever.  On May 28, FCC Chairman Tom Wheeler announced a proposal to expand the agency’s Lifeline program to include broadband Internet.  Costing about $2 billion annually in recent years, Lifeline defrays the cost of landline or mobile phone service for low-income subscribers.  Carriers and consumers share in the cost; Internet service providers soon may join them.  Funding has risen so much under Obama that the program often is called 'Obamaphone.'  Given the rampant fraud, the main issue would seem less the proper funding level than the program's very existence.

06/09/2015 - 09:56

The Wall Street Journal recently reported that Fiat Chrysler Automobiles CEO, Sergio Marchionne, has been pressing for a merger with General Motors. Marchionne has been appealing to hedge funds and activist investors in a move that seems to verge on desperation. The main takeaways from the appeal are that the government bailouts of GM and Chrysler were not a long-term fix for the industry and that Mr. Marchionne is one of the few experts on the industry who is honest enough to admit it.

06/05/2015 - 07:47

Elon MuskAlt-energy/transport-tech CEO Elon Musk and his trio of companies (Tesla, SolarCity and SpaceX) didn’t cooperate with the Los Angeles Times on its article that tabulated his businesses’ whopping sum of corporate welfare ($4.9 billion), and he was predictably miffed by the (accurate) portrayal.

So he went about trying to fix things on CNBC and with the Times on Monday, but not by denying the conclusions reached by reporter Jerry Hirsch, but instead by essentially pointing at fossil fuel industries and saying “they do it more.”

Syndicate content