As it continues to defy common sense and the laws of economics with its lofty stock price, Tesla has again shown it has little corporate competence in the ability to deliver a consistently functional product that satisfies customers.
The latest evidence comes in the recently rolled out Model X, which is allegedly an SUV, but looks like just another car. Retailing at a price only the extremely wealthy can afford ($138,000), the all-electric follow-up to the similarly troubled Model S automobile has stumbled out of the gate. The problems were outlined in a Consumer Reports article posted online Tuesday, which spurred a number of similar follow-up stories in other media, and temporarily caused Tesla’s stock to dip. Long-time followers of the company know that is only a temporary condition, however.
Nonetheless those who actually own a Model X – as opposed to those who own a certificate of … Read More ➡
If there is anything Black Lives Matter activists might enjoy even more than a downtown rally, it’s a campus rally. The social media-driven network of incendiary racial politicians is now a presence at colleges and universities across the U.S., conducting “anti-racist” campaigns against chosen targets. Case in point: the University of Kansas. Since November, black students at Kansas, inspired by BLM, have intimidated people they deem racist, aware that the feckless administration will do next to nothing to discourage them. The catalyst for all this was a claim by a black co-ed that several white males assaulted her at an off-campus Halloween party and that local police brushed off her complaint. Evidence suggests this was a hoax. The larger issue is academic freedom – and not just at KU.
The higher education gambit by Black Lives Matter, also known by the Twitter hashtag “#BlackLivesMatter,” requires context. For the group’s influence … Read More ➡
According to unconfirmed reports, the FBI is now investigating the possibility that donors were directed to the Clinton Foundation in return for favors from the State Department when Hillary Clinton was Secretary of State. This would be in addition to the ongoing investigation into Hillary’s use of a private email account for official business.
We hope the FBI is reviewing the circumstances described below that we uncovered and have already made public:
New York University (NYU) and the United Arab Emirates UAE)- We documented that Cheryl Mills, Hillary’s longtime aide and confidant, worked as State Department chief of staff while at the same time she was NYU general counsel from January to May 2009. She collected $198,000 from NYU during that period, while she also received a government paycheck.
Mills also continued to serve on the board of the Clinton Foundation for over a month after joining the State Department. Even worse, … Read More ➡
Railroading innocent persons into prison, or extracting outsized settlements from them, is now a defining feature of civil rights activism. The possibility of such an outcome explains why Kendrick Johnson, a Valdosta, Georgia black teen who died in a freak accident at his high school nearly three years ago, has become a rallying symbol for “anti-racist” activists. Johnson isn’t as familiar as the late Trayvon Martin or Michael Brown. But give it some time. From the start, the Johnson family and supporters have insisted, without evidence, that he was the victim of a racially-motivated murder and cover-up. They’ve convinced the Justice Department to search for the “killer,” and with methods that subvert due process. It’s only fitting that Al Sharpton, a master of racial hoaxes, has left his mark.
The hash tag phrase “#Black Lives Matter” suddenly has become a meme among young blacks across the nation. Strictly speaking, it … Read More ➡
Access to reliable, high-speed Internet is almost given in today’s America. But should it be subsidized? The Federal Communications Commission thinks it should, now more than ever. On May 28, FCC Chairman Tom Wheeler announced a proposal to expand the agency’s Lifeline program to include broadband Internet. Costing about $2 billion annually in recent years, Lifeline defrays the cost of landline or mobile phone service for low-income subscribers. Carriers and consumers share in the cost; Internet service providers soon may join them. Funding has risen so much under Obama that the program often is called ‘Obamaphone.’ Given the rampant fraud, the main issue would seem less the proper funding level than the program’s very existence.
Achieving justice, Al Sharpton-style, isn’t cost-free. And even his natural allies are admitting that the New York-based civil rights leader-provocateur can’t say “no” when it comes to money. This Tuesday, the New York Post published an article on a Staten Island, N.Y. rally on behalf of the late Eric Garner, a local black resident who died last July 17 soon after being arrested by police. Rev. Sharpton has championed his cause, insisting that white cops had racial motivations in using a banned chokehold in the arrest, which involved Garner’s attempted sale of loose cigarettes. Yet Garner’s adult daughter, Erica Snipes, is not impressed. Asked by an undercover video journalist if she thought Sharpton was a crook, she responded, “He’s (Sharpton’s) about this,” rubbing her fingers together. And she’s not the only person who feels the Rev is putting his bank account first.
NLPC Associate Fellow Mark Modica was a guest on Closing Bell today on CNBC. He was joined by Kevin O'Leary of Shark Tank.
Here is a transcript:
Sara Eisen: At first it seemed like it was just another activist investors at work but our next guest says something else is in play here. We're talking about Harry Wilson, the restructuring expert who served on President Obama's auto industry task force during the financial crisis and was instrumental in bringing GM out of bankruptcy. Now Wilson is a GM activist investor and represents hedge funds holding a total of 34 million shares asking General Motors' CEO Mary Barra for a seat on the board and is pressing for a stock buyback, Simon.
Simon Hobbs: Our next guest is a former GM bondholder who says the company isn't so financially healthy, that it shouldn't burn through its reserves with buybacks … Read More ➡
Unfortunately for “green” proponents, they are stuck with the stigma that they can’t make it without government mandates and subsidies. The last few years of President Obama’s (un-)stimulating spending, with billions of dollars that have gone to prop up projects that produce piddly amounts of energy (compared to fossil fuels), that have resulted in bankruptcies including Solyndra and Abound Solar, have projected an even worse image for wind and solar.
As a result the advocates for clean-tech, in order to conceal the true nature of renewable economics, have come up with a new term: “Democratization.” … Read More ➡
Entrepreneurs in industries tied to the energy efficiency gambit, justified by the climate change House of Cards, all have the same false bravado: they are “game changers” and “market leaders” (for products nobody wants); all their squandered revenues are “investments;” their technological breakthroughs are always “just around the corner;” and it just takes one more round of mandates/grants/loans/tax breaks to achieve viability in the free market.
It’s true of renewable energy and electric vehicles, and as Cree Inc. CEO Chuck Swoboda (in photo with President Obama) revealed last week, it’s true of the alternative light bulb industry too. In a shareholder meeting at the company’s Durham, N.C. headquarters, he boasted about his marketing acumen that he says will persuade the public to embrace Cree’s light-emitting diode (LED) technology and abandon the traditional light bulb – which consumers will soon have no choice about. The meeting featured some new Cree television … Read More ➡