Anybody using the financial services industry puts their faith and trust in a whole lot of people they have never seen or ever will. We all rely on regulators and regulations that are instituted by state and federal governments. In fact, almost anybody who has any savings probably has them parked in one of our financial institutions. To sharpen your focus on this, remember that about 80% of the balance of your checking account is tied up in loans that some strangers have promised to repay.
Last night on Neil Cavuto's show on Fox News Channel, NLPC Associate Fellow Mark Modica discussed disappointing sales of the Chevy Volt, and GM's apparent goosing of sales figures through fleet sales. Here's a transcript:
Greenpeace, which has campaigned against technology companies for nearly two years over their coal-burning electricity use at “cloud computing” data centers, has convinced one – Facebook – to promise to use renewable energy at facilities they build in the future.
Sales for the Chevy Volt have been stagnant and it has become apparent that lack of supply is not the reason. GM CEO Dan Akerson is responsible for tying the success of GM into the success of the Volt by having made lofty claims that the vehicle was, in fact, the future of the company while investing a major portion of marketing dollars to help support the perception. Deception was evident as statements were made that the vehicle was "virtually" sold out and supply couldn't keep up with demand, while evidence surfaced that this was not the case. GM cancelled plans to run a second shift for the vehicle even as it continued the ruse and floated rumors that there were huge waiting lists of purchasers for the vehicle.
When Boeing Co. two years ago announced plans to open a plant in South Carolina to assemble many of its 787 Dreamliner commercial jets, the decision triggered an outcry by the International Association of Machinists. The IAM's unofficial partner, the National Labor Relations Board (NLRB), filed a complaint against the company this April to block its opening of the facility, located in a Right to Work state. Last Friday, December 9, the board dropped its action. With the plant up and running for a half year, Boeing won a "victory" -- so says CNN. Or did it?
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.”