Bloomberg reported last week that General Motors will be paying $12 million in additional bonuses to its UAW workers for meeting "quality targets." It's nice to see the holiday spirit of giving at GM. Unfortunately; US taxpayers are not faring as well as Government Motors' politically favored union members.
The Obama Administration still refuses to exit its stake in GM with Treasury serving as Money Manager for the American taxpayers. Geithner and friends continue to gamble on a market-timing strategy to "maximize" taxpayers return on its GM bailout (sorry, "investment.") So, how are they doing?
The deal has been planned for months, and when approved by state and federal regulators, will create the largest investor-owned electric utility in the nation. Combined the companies serve residents and businesses in Florida, the Carolinas, Kentucky, Ohio and Indiana.
But Coke’s passion to avert climate catastrophism runs deeper than the Arctic ice. The company even has a position statement that says “the consensus on climate science is increasingly unequivocal,” that “global climate change is happening” (everyone agrees with that – it always has changed and always will), and that “man-made greenhouse gas emissions are a crucial factor.”
In January of 2010 USA Today reported that Consumer Reports (CR) temporarily suspended its recommended rating for eight Toyota models. This was in response to the possibility of Toyota models being unsafe as accusations were made that the vehicles had sudden acceleration problems and NHTSA investigated the alleged incidents. In CRs' words, "Although incidents of sudden acceleration are rare, we are taking this action because the vehicles have been identified as potentially unsafe without a fix yet being available to consumers." CRs' response to the Chevy Volt NHTSA fires is quite different from the Toyota response.
Billionaire Phil Falcone, whose cozy relationship with the Obama Administration was first exposed by NLPC, may face civil fraud charges by the Securities and Exchange Commission (SEC). According to a filing yesterday by Harbinger Group Inc., Falcone and two other directors have received "Wells Notices," meaning that they are under investigation.
Falcone is the Chairman, CEO and primary investor in Harbinger Group Inc., a hedge fund. Reportedly, other Harbinger investors include Soros Fund Management. Harbinger owns LightSquared, which has received an unusual waiver from the Federal Communications Commission (FCC) to deploy a national 4G wireless network.
Here's another surprise for Chevy Volt owners. Autoblog reports that General Motors is holding an online chat with Volt owners about winter driving. Part of the chat reveals that, despite the fact that GM claimed the Volt is purely electric for a range of about 35 miles, the vehicle will use gas in cold conditions. GM states, "Please be aware: when starting your Volt in these colder months, in some instances, your gas engine may engage regardless of the state of charge of the battery. This was designed into (the) Volt to generate heat for the battery when temperatures are well below freezing."
Yesterday, former Illinois Governor Rod Blagojevich was sentenced to 14 years in prison for, among other things, attempting to "sell" the US Senate seat that was once held by President Barack Obama. Blagojevich's punishment comes on the heels of the U.S. House Ethics Committee's decision to continue its investigation into Congressman Jesse Jackson's role in the same scheme.
For organized labor, the National Labor Relations Board (NLRB) during the Obama years has become a de facto legislative body, issuing rules and rulings to give unions extra advantages in organizing and bargaining that Congress won't enact. Not surprisingly, union officials are dismayed over a vote in Congress last week to block a proposed NLRB regulation to shorten the time frame for holding representation elections and a board ruling expanding the leeway for forming workplace "micro-unions." Last Wednesday, on November 30, the House of Representatives by 235-188 passed the Workforce Democracy and Fairness Act (H.R. 3094), which, among other things, would counteract a "quickie" or "ambush" election rule unveiled by the NLRB in mid-year. Meanwhile, the Senate has come out with a similar bill focusing on the micro-union issue.
You may have heard of the announcement that there will be a congressional investigation into why NHTSA waited six months to notify the public of the crash-tested Chevy Volt which burst into flames three weeks after the crash-test. If you have, it was probably not through mainstream media networks, which seem to be keeping fairly quiet on the story. I have not been able to ascertain a logical reason for General Motors and the Obama Administration's transportation safety agency to withhold reporting the incident.