They might not have been Oscar-worthy performances. But the acting job by hundreds of Long Island Rail Road (LIRR) employees and their enablers was convincing enough to run a racket that could wind up costing U.S. taxpayers $1 billion or more. On October 27, FBI and New York State agents arrested 11 persons for operating a scheme by which retired workers at the heavily unionized LIRR allegedly visited doctors who would prepare phony medical histories, allowing retirees to receive outsized pension and "disability" checks, courtesy of the U.S. Railroad Retirement Board. One arrestee, in fact, was a former union president. The investigation was triggered by revelations a few years ago of unusually high rates of disability claims and awards. "This was a game where every retiree was a winner," said FBI New York bureau head Janice Fedarcyk.
A scandal that won’t go away for Duke Energy CEO James Rogers revealed over the weekend, once again, that he will turn over every government rock he can to try to find money to pay for his irrational Green agenda, with reckless disregard for taxpayers and his customers.
Last month NLPC reported that during the holidays Coca-Cola will change its traditional red cans to white as part of an advertising campaign to raise $2 million for the World Wildlife Fund’s “polar bear conservation efforts.” This despite the fact that global polar bear populations are healthy (much larger than 50 years ago), their Arctic habitat is recovering, and the locations where a few of their numbers have declined in some cases are attributed to too much ice, not “global warming.”
Over five months ago, a Chevy Volt that had been crash tested weeks earlier and was sitting in a government storage facility burst into flames. The story was just recently reported by news outlets like the New York Times, a source that certainly can not be accused of being on a right wing witch hunt to discredit electric cars. The Chevy Volt has been very controversial with questions raised regarding the rush to electrify America's auto fleet at the expense of taxpayers, particularly when the main player in the field is an entry of Government Motors. The latest question that has yet to be asked is, "why did NHTSA delay reporting the spontaneously combusting Volt?"
Has Julius Genachowski, the Chairman of the Federal Communications Commission (FCC), met his match in Senator Charles Grassley (R-Iowa)? Genachowski, a buddy of President Obama from Harvard Law School, has brought a culture of wheeling and dealing to the FCC, on whose decisions billions of telecom dollars often ride.
Grassley says that he will hold up two nominations for the Federal Communications Commission (FCC) until the Commission provides documents that he has requested relating to LightSquared, a broadband company owned by the Harbinger Capital hedge fund.
General Motors reported disappointing earnings yesterday and share price fell over 11% (compared to about 3% for broader markets) to $22 and change, down 33% from its IPO offering at $33 about a year ago. Taxpayers saw a paper loss of over $1 billion on their "investment" in just one day. Individual investors may have been confused by initial headlines that trumpeted an earnings beat by GM at the same time that pre-market share price signaled that the earnings report was a disappointment. Let's take a look at what drove the move as well as where GM may be heading.
On Monday NLPC’s Mark Modica smartly called into question Consumer Reports’ sudden change in opinion about the electric hybrid Chevy Volt from a vehicle that they once believed “doesn’t seem to make a lot of sense,” to one the publication recommends. The next day, however, CR delivered an online review of the major all-electric vehicle on the U.S. market – the Nissan Leaf – and while not intended to be scathing, the account given by reviewer Liza Barth makes the car sound so unappealing, she should have panned it outright.
No matter how much Walmart officials pander to liberals and their institutions, or how much they implement alternative energy gimmicks, or how much they earn fawning media attention for “corporate responsibility” and “sustainability” gestures, a giant segment of the political Left will still resent the retail giant.
In March NLPC reported that Duke Energy guaranteed a $10 million loan to the Democratic National Committee to host its 2012 convention in Charlotte, NC – the utility’s hometown. Now Duke CEO James Rogers – who heads the fundraising effort as co-chair of the DNC host committee for the convention – is silent about how much money has been brought in so far.
General Motors has gotten much attention on its controversial Chevy Volt tax-subsidized vehicle. The hype for the Volt started over two years ago as GM was trying to put a positive face on the future green potential of a plug-in vehicle that was to be a game changer for the industry as Washington was lobbied for a taxpayer funded bailout. While the final verdict on the success of the Volt has not been reached, the initial performance is underwhelming; especially considering the amount of hype and marketing money (supplied by taxpayers) emanating from GM.