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08/04/2011 - 20:09

Jim Rogers photoDuke Energy, along with General Electric and General Motors, are three of the major companies that are often criticized for their rent-seeking ways by free-market minded people, because their corporate earnings focus seems to depend more on subsidies and tax breaks from government rather than sales of their products. That all three support cap-and-trade policies (although it appears GM has left the US Climate Action Partnership) – as long as the gaming of the credit-trading system falls in their favor – is one example of this.

7,405 reads
08/02/2011 - 15:02

Chevy Volt photoSales of the much-hyped Chevy Volt fell to new lows as did GM share price as July auto sales figures came in. Only 125 Volts were sold during the month of July. Recent reports attributed the slump to supply constraints as GM spokeswoman, Michelle Bunker, was quoted as saying that the Volt was "virtually sold out" and only a "few" were available nationwide. I have confirmed that this statement is not entirely truthful and have gotten clarification from GM through Director of Communications, Greg Martin.

19,595 reads
Ken Boehm
08/01/2011 - 19:15

NY Times building photoThis week the New York Times again ran a story calling into question the credibility of reporter Ian Urbina's June 27th article, "Insiders Sound an Alarm Amid a Natural Gas Rush," which claims the quickly emerging shale gas industry is similar to a Ponzi scheme.

It appears Urbina crossed the line into sensational journalism with his baseless claims by failing to conduct proper background checks, and his tendency to overstate the credentials of anonymous sources. This problems with his reporting apparently have driven a wedge between Times editors trying to justify the story, and those concerned over the long-term repercussions for the paper.

4,482 reads
07/29/2011 - 13:00

Immelt Obama photoGeneral Electric announced this week it will relocate its X-ray business to Beijing in order to capitalize on the burgeoning Chinese health care market.

Bravo for them. Kudos. I’m sure it’s a smart business move for the company – just like not paying taxes in the U.S., rent seeking for “Green” subsidies and mandates, and reducing American jobs are also bottom-line wise.

4,365 reads
07/28/2011 - 14:54

Wall Street casino photoThe latest reports from Reuters state that the US Treasury Department will wait until after September to sell its GM stake. Just why is Treasury gambling taxpayer money by trying to market time its exit of General Motors' shares? The lock-up period for GM expired at the end of May. This was the earliest time that insiders (such as Treasury) involved in the GM IPO would be allowed to file to sell shares. At that time, GM shares were hovering around $31. Today's price is closer to $28. Calculating the loss from late May to now on the taxpayers' approximate 500 million shares, we come up with a loss of about $1.5 billion. What is leading the executive branch of our government to believe it has the right to play investment adviser and market timer for taxpayers on the GM gamble?

3,159 reads
07/26/2011 - 16:36

David Wu photoRep. David Wu, D-Ore., announced his resignation following accusations that he engaged in an unwanted sexual encounter with a young woman.

Moments after Oregon's two United States Senators, Jeff Merkley and Ron Wyden, asked the congressman to step down, Wu addressed the House and said his resignation would go into effect after the resolution of the debt-ceiling crisis.

2,253 reads
07/26/2011 - 15:35
SEIU logoThe Service Employees International Union could have written the book on how to get corporations to surrender. In fact, it has written the book. Lawyers for Sodexo USA, a subsidiary of France-based food services and facilities provider Sodexo Inc., recently revealed as much during the discovery phase of the company's federal racketeering suit against the union: an SEIU manual on how to intimidate employers. By applying extreme pressure, the monograph argued, a union can extract concessions from management on virtually any issue. Section Three of the text, fully 88 pages, can be downloaded from www.workplacechoice.org. The lawsuit, filed in March, has yet to go to trial. Yet whatever the outcome, the manual unwittingly shines a spotlight on the lengths to which unions in this country will go to achieve victory in a corporate campaign.
7,349 reads
07/25/2011 - 13:25

GM UAW Delphi logosThe unprecedented intrusion of the executive branch of the US government into the American auto industry when the Obama Administration orchestrated the General Motors and Chrysler bankruptcy processes is now leading to unprecedented responses. Groups that were clearly discriminated against and had their rights subordinated to politically powerful unions may actually have a winnable case against our own government as lawsuits are being brought against the US Treasury Dept. and others.

7,570 reads
07/25/2011 - 13:11

Meeks photoOn Friday, the FBI arrested Ed Ahmad, the Guyanese businessman who made an unsecured $40,000 loan to Rep. Gregory Meeks (D-NY) that Meeks failed to publicly disclose as required. Ahmad was charged with mortgage fraud in connection to a wide-ranging scheme that involved faking income for applicants and the use of straw buyers. He was reportedly released on $2.5 million bail.

According to one report, "Ahmad had already boarded Delta 383 at JFK International to head to Guyana when Federal agents boarded the aircraft, handcuffed him and removed him from the aircraft."

4,820 reads
07/25/2011 - 12:59

Mike Duke photoBack in April some on the Internet tried (and failed) to argue that Walmart had abandoned political correctness – especially with regard to environmental causes – because the company had suffered seven (now eight) straight quarters of same store sales declines. NLPC showed that if anything, Walmart was more committed to “sustainability” than ever.

Those priorities, under CEO Mike Duke (in photo), may have reached absurd new heights last week as the world’s largest retailer announced a partnership with utility giant American Electric Power to give away electricity. That’s right – free electricity! But as you might imagine, there’s a catch.

3,552 reads
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