It looks like General Motors will be throwing everything in but the kitchen sink to help fluff its second quarter earnings numbers. Taxpayers continue to help with the cause as President Obama campaigns on the "success" of GM following the manipulated bankruptcy process that cost taxpayers $50 billion and another $45 billion of tax credits gifted to GM to help protect powerful UAW interests. We now learn that government purchases of GM vehicles rose a whopping 79% in June, year over year.
This time the recently resigned EPA’s Region 6 administrator will eagerly attack another fossil fuel, joining the litigious environmental group as part of its “Beyond Coal” campaign. If there was any question that Armendariz unfairly regulated the gas and oil businesses under his authority in Texas, Oklahoma, Louisiana and other neighboring states, the Sierra Club announcement left no doubt.
The next time a green energy company announces it is intentionally slowing down for a transition phase, or that a technology breakthrough is just around the corner, or that all that’s needed for future success is just a little more taxpayer “investment” – don’t believe it. It's likely a lie.
The U.S. Supreme Court once again has put the nation's public-sector unions on notice: Fee-paying nonmember workers under contract can't be forced to subsidize political causes they don't like. Last Thursday, June 21, in its long-awaited decision in Knox et al. v. SEIU, the Court affirmed a longstanding principle. Ruling 7-2 on the merits of the case and 5-4 on the issue of First Amendment rights, the Court concluded that the Sacramento-based Service Employees International Union (SEIU) Local 1000, California's largest public employee union, had deprived "agency shop" workers of the right to opt out of making monetary contributions toward union advocacy.
It's time, once again, to clarify a major misrepresentation by General Motors and the media. That is the implication that the recently announced move to modify a portion of non-union pensions will result in an improvement of $26 billion to GM's pension shortfall. GM shares are down about 5% since the announcement, bringing into question the accuracy of the rosy projections.
Labor leaders don't like it when they have to open their books to public inspection. Those in Canada apparently aren't much different from the ones in this country. Canadian lawmakers currently are considering private legislation, Public Financial Disclosure for Labour Organizations, to include unions as among the organizations required to furnish financial data. Sponsors say the measure, alternately known as C-377, is needed to combat corruption and foster transparency. Union leaders insist that compliance would be unjustifiably costly and time-consuming. If this sounds familiar, it should.
Highlighting that electric vehicles are no more than a scheme to extract money from taxpayers rather than sell a viable product, the producer of a dismal-(but still highest) selling all-electric car in the U.S. confirmed they wouldn’t exist at all without government.
Francois Bancon, Nissan’s global general manager of product strategy and planning, could not have been more clear in a discussion with the media at the Australia launch of the all-electric Leaf. In the U.S., taxpayers are backing a $1.4 billion loan guarantee for Nissan to retrofit a Tennessee manufacturing plant to produce the Leaf.
The top private equity raiser for troubled electric automaker Fisker Automotive, which has been the subject of investigations by the Financial Industry Regulatory Authority (FINRA) and Securities and Exchange Commission, has reportedly removed its co-founder and CEO.
Crain’s Chicago Business, citing “a company insider,” reported Friday that Advanced Equities Inc. has reached an agreement with Dwight Badger for him to leave the investment firm. The separation follows a demand by a FINRA arbitration panel for Advanced Equities to pay $4.5 million to one of its former brokers, John Galinsky, over breach of contract claims. Galinsky brought his complaint against the firm, Badger, and his co-founding partner, Keith Daubenspeck.
After experiments on humans were conducted that exposed them to airborne particulates considered to be lethal, a sound-science advocate has accused physician researchers working for the Environmental Protection Agency of misconduct and violations of the Hippocratic Oath.
The president of the GM Retirees Association, Jim Shepherd, sent a scathing letter last week to GM CEO, Dan Akerson. The letter was in response to General Motors' decision to modify pension plans for non-union retirees. Mr. Shepherd stated that the non-union retirees wanted to express their "absolute consternation and disgust" and described the move by GM as not being only unfair but, "it is sheer irresponsibility and greed."