It doesn't matter when and what Sokol told Warren Buffet. Sokol was working for Berkshire Hathaway at the time he was interacting with Lubrizol and trading its shares. Sokol's defense that he did not have ultimate control on approving the acquisition deal is about as lame as it gets. And we are supposed to believe that his resignation is unconnected to these events?
The Securities and Exchange Commission (SEC) has notified Wal-Mart that it will not allow the company to exclude from consideration our shareholder proposal that asks for a report on the business risks of climate change. Our supporting statement criticizes the company's support for unpopular measures like Cap & Trade, and for forcing its controversial political positions on its suppliers.
Today, I asked the Securities and Exchange Commission (SEC) to investigate the activities of short sellers, including Steven Eisman, who profited from the collapse of share prices of companies that are in the for-profit education field. Evidence continues to emerge that officials of the Education Department cooperated in the shorts' campaign. The same request was previously made by Citizens for Responsibility and Ethics in Washington (CREW), and other ethics advocates. My letter reads, in part:
The Detroit News was recently involved in a controversy surrounding a negative Chrysler 200 review by auto critic, Scott Burgess. Jalopnik.com reported that after receiving a complaint by an advertiser identified as a Chrysler dealership, the Detroit News softened the criticism on an online version of the review. Mr. Burgess displayed journalistic integrity by resigning over the incident. Since that time, the Detroit News has apologized and Burgess has returned to his position. This affair may just be a small scale indicator of a much wider flaw in the quality of journalists' coverage of the auto industry, particularly regarding General Motors.
Last night, NLPC Chairman Ken Boehm appeared on Fox Business Network to describe political favoritism by the Federal Communications Commission (FCC) that benefited Harbinger Capital, a hedge fund headed by billionaire Phil Falcone.
As if General Motors did not have enough challenges to contend with, the UAW is now offering up some bellicose talk regarding upcoming labor contract negotiations. I discussed this issue last night with Neil Cavuto on Fox Business Network.
McDonald's Corporation is no stranger to threats from the Left, especially environmental activist groups. The nanny-state obesity fighters' attacks (think Super Size Me) are well-documented, and Green groups like Rainforest Alliance, Greenpeace and Environmental Defense have extracted their pound of flesh over things like coffee bean suppliers, Amazon rainforests, and styrofoam packaging.
The mortgage foreclosure crisis in this country may have been superseded by events in Japan, Libya and elsewhere for now, but in its own way it's taking a heavy toll. And it's likely to get worse, given the context of evidence that an Obama-initiated homeowner subsidy program to stem the tide isn't working and of a new federal agency poised to extract $20 billion from lenders on behalf of heavily delinquent borrowers.
Last week, ex-car czar Steven Rattner seemed to pre-emptively blame rising gas prices for problems at bailed-out General Motors. Now AP reports that GM says that it will cut unnecessary spending in the wake of the Japan disaster. Here's a novel thought for GM executives, you shouldn't be spending taxpayer money unnecessarily in the first place! Beyond that, I get the sense that the crisis in Japan will be the next excuse for the continued underperformance of GM stock since its IPO.