Energy Secretary Chu Has To Go

 

NLPC Associate Fellow Paul Chesser was interviewed on Cavuto on the Fox Business Network on March 13. Here is a transcript:

Neil Cavuto: Well, Energy Secretary Steven Chu back on the Hill and backpedaling.

Unidentified Congressman: Are you saying that you no longer share the view that we need to figure out how to boost gasoline prices in America?

Steven Chu: I no longer share that view. These prices well could have – well affect the comeback of our economy and we’re very worried about that and so of course, we don’t want the price of gasoline to go up. We want it to go down.

Neil Cavuto: All right. So Steven Chu actually backing off what he had said back then but Paul Chesser of the National Legal and Policy Center still says the guy’s got to go and now. You know, I know he’s … Read More ➡

SPECIAL REPORT: Why Immelt Needs Obama: General Electric Is a Bank, and It’s Too Big to Fail

Special Report coverNLPC Associate Fellow Fred N. Sauer asserts that General Electric is no longer a great industrial company, but is now dominated by its General Electric Capital Services (GECS) division. Contrary to the conventional wisdom of the financial media that GECS has been GE’s strength in recent years, Sauer argues that GECS is dangerously reliant on short-term financing to support its own lending. The result is a company ultimately dependent on political influence to mitigate the risk, creating opportunities for the well connected, like Warren Buffett.

Click here to download an 18-page pdf version of the Report.

The role of CEO Jeffrey Immelt is explored and unfavorably contrasted to that of Jack Welch, his predecessor. Sauer charges that GE’s executives have put increasing their own compensation above the interests of shareholders- and taxpayers.

 

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Modica Criticizes Tax Credits to GM Dealers Selling Chevy Volts to Gov’t

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UAW Bonuses Add Insult to Injury

Last night, NLPC President Peter Flaherty criticized GM’s bonuses to United Auto Workers while the company is stil deep in the hole to taxpayers. He appeared on CNN’s Situation Room. Here’s a transcript:

Candy Crowley: New evidence that General Motors has made a big financial comeback after taxpayers bailed out the auto giant a few years ago. The company proudly announced it has posted record profits, but critics aren’t happy about the way GM is spending that money. Here’s our Lisa Sylvester.

Lisa Sylvester: Hi there, Candy. Well, all three U.S. automakers are back from the brink. GM had a very profitable year in 2011 with its North American operations. Now the question is, though, should those profits be shared with the workers, even though U.S. taxpayers are still on the hook for the company?

(BEGIN VIDEOTAPE)

Lisa Sylvester (voice-over): November 2008, the CEOs of the big three … Read More ➡

Luxury Carmaker Fisker Looking for More Taxpayer Money

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Gov’t Conflict of Interest on Chevy Volt Probe?

NLPC Associate Fellow Mark Modica last night discussed the National Highway Traffic Safety Administration (NHTSA) investigation of the Chevy Volt fires with Gerri Willis on the Fox Business Network. Here’s a transcript:

Gerri Willis:  The National Highway Traffic Safety Administration, NHTSA, says the Chevy Volt, the controversial electric car the Obama administration has touted as a major step forward, step forward towards a green future is perfectly safe to drive. But does the government have too much of a vested interest in the Volt?  Joining us now is Mark Modica from Philadelphia, of the National Legal and Policy Center associate fellow. Welcome to the show, Mark. It’s great to have you here. Look, we can trust NHTSA on this, right? I mean, they are a federal agency. Do you disagree?

Mark Modica:  Yes, considering that their … Read More ➡

Consumers Should Select Cars, Not Government

NLPC Associate Fellow Mark Modica says it is time to end tax credits and subsidies for electric vehicles. He is interviewed by Neil Cavuto on the Fox Business Network on Friday, January 6. Here’s a transcript:

Neil Cavuto:  Meanwhile, a Fox Business Alert that is going to be a topical issue, drivers paying more to fill up. But it doesn’t look like they’re getting fed up with the gas guzzlers. Gasoline now at its highest price ever for the start of the year. It’s still rising. But look what else is rising. Sales of really big vehicles like the Dodge Durango, the Jeep Grand Cherokee, so much so that Chrysler is adding, adding over a thousand jobs to build them. Former GM bondholder Mark Modica says the car buyers are going for the gas guzzlers. So D.C. should stop fueling its green car agenda?  Mark, you do raise an … Read More ➡

GM Recalls Chevy Volt

Last night, NLPC Associate Fellow Paul Chesser discussed the Chevy Volt recall with Neil Cavuto on the Fox Business Network. Here’s a transcript:

Neil Cavuto:  …Forget Volt sales and that they are far from catching fire. Apparently the cars really are in danger of catching fire. GM is recalling nearly 8,000 Chevy Volts for what they’re calling enhancements. I actually hate it when people do that but that’s what they’re calling them, enhancements, aimed at preventing the battery from bursting into flames. The National Legal and Policy Center‘s Paul Chesser says that this recall should be a wake-up call for the government to just stop this nonsense. Just get out of this whole subsidizing, tax crediting, everything having to do with this stuff, right?

Paul Chesser:  Neil, you’re not supposed to call it a recall. GM’s not calling it a recall. The government’s not calling it a … Read More ➡

Taxpayer-Subsidized Electric Vehicles Are a Bust

NLPC Associate Fellow Paul Chesser was interviewed last night on Cavuto on the Fox Business Network. Paul asserted that electric vehicles like the Chevy Volt have failed in the marketplace, despite massive taxpayer subsidies. Here’s a transcript:

Neil Cavuto: Well as you can tell, I have been somewhat subdued in my criticism of electric cars, especially the Volt.  But despite my downplaying Americans seem to be plugged in to the fact that plug ins are not in.  I want you to check out this USA Today headline, that’s right, copying me, questioning if electric cars are losing their spark.  Of course it is a misleading headline since they never had a spark.  But I digress because you have lost me and USA Today, well I think that it is fair to say you lost the … Read More ➡