Category Archives: Pay to Play

Smaller insurance companies going away thanks to Obamacare

As we have said several times before and even when yours truly wrote for his old college blog, consolidation is a goal of the progressive secular left.

What is consolidation? It is when smaller players are driven out of the market by slanted government regulations, enforcement, and taxes in favor of the biggest players who tend to be campaign contributors. It also makes controlling the economy easier as a few players are easy to monitor and control. You cannot control the economy without first controlling people, so the less people to control the better. [Smaller companies tend to contribute to Republicans – Editor.]

Forbes: Obamacare Consolidation Continues: Aetna Buys Coventry For $7.3B

Consolidation in the healthcare sector was an obvious consequence of the latest Supreme Court ruling that upheld Obamacare. On Monday, Aetna announced it reached an agreement to buy Coventry Health for a transaction value of $7.3 billion including debt in over to increase its exposure to government business such as Medicare and Medicaid.

On the market side of that issue, major companies are already in consolidation stage. Aetna’s acquisition of Coventry, for which it will pay $5.7 billion in cash and stock, is a direct consequence of the Supreme Court’s decision to uphold the individual mandate. As I wrote in the aftermath of the ruling, “in the face of it, this should be negative for major health insurance companies, as it will drive more customers at lower margins, and positive for Medicaid companies.”

Aetna was very clear in the press release, the transaction will increase its “share of revenues from government business to over 30% from 23% currently.” Coventry will add over 5 million members to Aetna’s plans, including about 4 million medical members and 1.5 million Medicare part D members. The deal also “substantially increase[s] Aetna’s Medicaid footprint, creating more opportunity to participate in the expansion of Medicaid and to pursue high acuity positions as they move into managed care.”

The Supreme Court ruling already fueled WellPoint’s acquisition of Amerigroup for about $5 billion, while last year Cigna bought HealthSpring for $3.8 billion in a push to gain exposure to Medicare patients. Markets appear to approve of consolidation in the industry, as stock prices showed on Monday.

Obama Admin proposes 68 regulations per day, 6,125 in 90 days

And people wonder why jobs and wealth leave the country……

CNS News:

It’s Friday morning, and so far today, the Obama administration has posted 165 new regulations and notifications on its reguations.gov website.

In the past 90 days, it has posted 6,125 regulations and notices – an average of 68 a day.

The website allows visitors to find and comment on proposed regulations and related documents published by the U.S. federal government. “Help improve Federal regulations by submitting your comments,” the website says.

The thousands of entries run the gamut from meeting notifications to fee schedules to actual rules and proposed rule changes.

In recent days, for example, the EPA posted a proposed rule involving volatile organic compound emissions from architectural coatings: “We are approving a local rule that regulates these emission sources under the Clean Air Act (CAA or the Act),” the proposed rule states. “We are taking comments on this proposal and plan to follow with a final action.”

Another proposed rule will provide guidance for FDA staff on “enforcement criteria for canned ackee, frozen ackee, and other ackee products that contain hypoglycin A.”  (Ackee is the national fruit of Jamaica; unripened or inedible portions can be toxic.)

Some of the proposed regulations revise regulations already on the books.

The website also links to a video of a speech President Barack Obama gave at the U.S. Chamber of Commerce in Washington, D.C. on Feb. 7, 2011, in which the president promised to remove “outdated and unnecessary regulations.”

“I’ve ordered a government-wide review, and if there are rules on the books that are needlessly stifling job creation and economic growth, we will fix them,” the president said.

A number of groups, including the Competitive Enterprise Institute, expect a rush of new regulations now that President Obama has won a second term:

CEI expects the EPA to move ahead on delayed rules on everything from greenhouse gas emissions to ozone standards.  “Rules from the health care bill and the Dodd-Frank financial regulation bill will also likely make themselves known in the weeks to come,” the group said on its website.

Lawsuit Alleges “Corruption and Negligence” at Department of Energy

More about Green Corruption” and kickbacks. Welcome to energy policy, Chicago style.

Via Heritage:

A lawsuit filed in federal court on Wednesday alleges mass favoritism in the Department of Energy’s decisions to award federal grants to major car companies to develop electric vehicles, according to a legal complaint obtained by Scribe.

The plaintiff, San Francisco-based XP Technology, says in a complaint filed in the U.S. Court of Federal Claims that “corruption and negligence” pervaded DOE’s decision to award loan guarantees to Ford, Nissan, Tesla Motors, and Fisker Automotive for the development of electric vehicle technology.

“Investigations have shown that DOE officials intentionally stalled numerous applicants’ reviews in order to force them out of business and protect favored players,” the complaint claims. It adds:

XP has received information demonstrating that the unprecedented number of failures in the DOE program relative to what DOE officials have claimed to be “the most expensive and extensive due diligence in history” is explained by manipulated reviews, in the due diligence effort, on behalf of what the United States Government Accountability Office (GAO) investigations found to be “favoritism” in published investigation reports. A senate ethics investigation states, in published reports, that “negligence and mismanagement by DOE officials” was a regular occurrence.

XP, which applied for federal backing under the Advanced Technology Vehicle Manufacturing program, “is seeking to have applicants who were “targeted” receive fair re-reviews, in a transparent manner, if they so desire.”

In addition to an unfair selection process, XP alleges that DOE retaliated against the company for reporting evidence of negligence and corruption incorporated into the various investigations into the ATVM program.

After XP staff first reported the incidents, becoming “whistle-blowers”, by reporting the evidence to GAO, Justice Department, The White House Press Office and The Senate Committee on Energy and Natural Resources, among others, they received threats and personal attacks. Over time, the volume of third party investigations, which have validated the charges of questionable acts by DOE staff have become voluminous.

Read the full complaint HERE.

Obama’s IRS targeting small business, less focus on mega-corps

Breitbart News:

The Internal Revenue Service (IRS) recoups $702 in taxes for every hour it spends auditing small businesses, versus $9,173 an hour for auditing large corporations. But under Barack Obama, audits of small and medium-sized businesses have skyrocketed.

So says Peter Schweizer, President of the Government Accountability Institute:

According to IRS statistics, from 2009 to 2011, the coverage rate (number of audits as a percentage of total returns filed) for corporations with assets between $10 million and $50 million has increased 32 percent. The coverage rate for corporations with assets between $50 million and $100 million has increased at the same rate. Some businesspeople file individual returns, and those with incomes higher than $1 million have experience a 94 percent increase in their coverage rate, and a 29 percent increase in the actual number of exams since 2009. Those with incomes $200,000 and higher have seen a 36 percent increase in their coverage rate.

We are not surprised. As we have reported many times before the leadership of the Democratic Party has no interest in taxing the mega-corporations and super rich, rather they are targeting small to medium sized domestic businesses and upper middle class wage earners.

Political Arena:

Democrats want to tax the rich?

This is perhaps the biggest false narrative of all. The Democratic Party leadership has never been interested in taxing the very rich. They have been “taxing the rich” for 50 years. Is it just a coincidence that they just happened to keep missing the target? President Obama gave the speech at Google, which paid 2.4% federal tax on 3.1 billion in income. In that speech he trashed the Chamber of Commerce for fighting against raising the tax on most small businesses which actually employ people from 35.5% to 39.9% . In the 2008 elections President Obama railed against Wall Street, but not only did he take more money from Wall Street and “the big banks” and such, but as if to add insult, their executives became the who’s who of those running his administration (LINKLINK). Keep in mind that CNN once said Obama attacks private equity at 6am and is fundraising with private equity at 6pm. Wall Street and the big banks made more under three years of Obama than they did under eight years of Bush. His Treasury Secretary says that taxes on small businesses must rise so that government doesn’t shrink, and Obama’s new health care taxes target you, not just the rich. All of the stimulus and spending and so forth all in the name of the poor sounded nice, but look who got rich.  Odds are that people who buy into the false narrative know none of this.

New Political Ad: China

Also keep in mind that government is now a major owner of GM and Chrysler/Jeep, and recently both have announced that they are moving manufacturing to China.

GM Brags: Since bailout 70% of our manufacturing outside of US. Announced GM R&D moving to China (video)

Jeep throws in the towel, moving production to China

[/sarcasm] But I thought that the bailout’s were about keeping jobs here……

Green Corruption: Over 80% of “Green Jobs” money went to Obama donors, 50 “green” companies going under…

In a nutshell: 150 more Obama Administration emails released showing how green energy money was steered to Obama cronies with sham junk bond companies. The list of green jobs companies gone or going under grows to 50. That is your money folks.

With so many of these green energy boondoggles it looks like this: Obama gives big taxpayer money to a fund raiser who is an owner in a “green energy company”. Said owners pay themselves in a big way, give big money to Democrats and go out of business.

While the administration claims that this was all science and no politics, a slew of leaked emails show the corruption and influence peddling.

Our friends Christine Lakatos at Green Corruption and Marita Noon at Townhall  have been tracking the list of green jobs boondoggles that are going out of business after paying themselves lavishly with your money. That list went from 15, to 16, to 36  and now 50 green jobs enterprises paid for with your money that either have shut down or are about to. See that list here:

http://greencorruption.blogspot.com/2012/10/green-alert-tracking-president-obamas.html

Via the research from Lakatos and Noon, the Daily Caller is now running with this story, as is former Speaker of the House Newt Gingrich:

Newt comments on the erupting “green corruption”story after he discusses the emails showing that the order to let or embassy staff die was from the White House.

Erupting indeed. Emails showing the influence peddling and corruption keep coming out.

The House Oversight Committee has released a new set of 150 emails that show how your money was steered to cronies in the name of green jobs. More on this story from Marita Noon in today’s Townhall (excerpt):

The 1705 loan guarantee program had 460 applicants, but only 7% were approved—26 projects were funded. Of those 26 projects 22 were junk-bond rated—meaning private investors wouldn’t fund them. So why did we, the taxpayers?

Our research showed that at least 90% of the projects had close ties to the White House and other high ranking Democrats. Despite the obvious connection, President Obama has repeatedly denied any involvement—preferring to blame “career bureaucrats” who could take the fall with no political consequence.

In March, Energy Secretary Steven Chu, testified that, “We looked at the loans on their own merits.” Also, back in November 2011, he said: “I am aware of no communication from White House to Department of Energy saying to make the loan or to restructure.”

Just last week, on October 26, President Obama affirmed Chu’s position when he said: “Decisions made in the loan program office are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.”

However, late Wednesday, the House Committee on Oversight and Government Reform released a new report of “over 150 emails that contradict statements by the President, Secretary Chu, and White House and DOE officials.” The emails reveal a series of questionable practices, including coercion, cronyism and, cover ups.

Read the rest HERE.

Says Noon, “The Obama green energy program is the largest, most expensive, and deceptive case of crony capitalism in American history”.

See the rest of our green jobs scam and Solyndra coverage HERE.

UPDATE – Even MORE from the House Oversight Committee: Obama Administration lying about the influence peddling; caught again with more of their own emails.

House Oversight Committee:

INTERVIEW EXCERPT FROM KUSA Channel 9 News Denver Colorado’s Kyle Clark:

KYLE CLARK: In a national address, you touted the stimulus money going to Abound Solar – a Colorado company connected to one of your billionaire fundraisers. Now, as you may know, Abound Solar is out of business and under criminal investigation. The jobs are gone and taxpayers are out about 60 million dollars. How do you answer critics who see Abound Solar as Colorado’s Solyndra – a politically connected clean energy company that went under and took our money with it?

PRESIDENT OBAMA: (Laughs) Well, Kyle, I think that if you look at our record that these loans that are given out by the Department of Energy for clean energy have created jobs all across the country and only about four percent of these loans were going to some very cutting-edge industries that are going to allow us to figure out how to produce energy in a clean, renewable way in the future and create jobs in Colorado and all around the country. And some of them have failed but the vast majority of them are pushing us forward into a clean energy direction. And that’s good for Colorado and good for the country. And these are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.

Investigative Reporter Todd Shepherd: NOT POLITICAL? EMAILS SHOW WHITE HOUSE DROVE FAILED GREEN-LOAN IN COLORADO

CompleteColorado.com has obtained emails that seem to directly contradict Plouffe’s answer, and also challenge the President’s notion that the DOE’s loan decisions were universally autonomous within the agency. The emails also lend even more credence to the theory that the loan to Abound Solar was political payback to Colorado’s wealthy Democratic benefactor and Gang-of-Four member, Pat Stryker.”

In the above email thread, DOE loan executive Jonathan Silver tells DOE credit advisor Jim McCrea, “You better let him know the WH wants to move Abound forward.” It appears to be a mild scolding to a Treasury advisor, Ian Samuels, who is not moving fast enough to schedule calls regarding Abound.

The second page of the email thread makes mention of “…transaction pressure under which we are all now operating…” This entire email thread happened just a few days before President Obama would hail the government-backed loans as a job creator for Colorado.

Obama Green Energy Jobs Project Cost $28 Million Per Job

And this is just an excerpt… and so many billions in green jobs projects that just went to cronies and campaign contributors to make them rich. When you are done reading be sure to click the link below and read the rest. Also, retired famed super athlete Christine Lakatos now tracks these green energy projects and dollars on her web site which has shown to be very illuminating as to just how far this corruption has progressed.

Townhall Finance Columnist Marita Noon excerpt:

With the assistance of researcher Christine Lakatos, I have been chronicling Obama’s stimulus-funded green energy failures. First we looked at the companies that have gone bankrupt, and then those that are heading that way—or, at least, have financial issues. Within those reports, we frequently addressed specific green jobs failures. For example, regarding Fisker, the electric car made in Finland, we say:

ABC reported: ‘Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright, new path to thousands of American manufacturing jobs.’ Those jobs didn’t materialize—at least not in America. … Two years after the loan was awarded, the Washington Post stated that Fisker ‘has missed early manufacturing goals and has gradually pushed back plans for U.S. production and the creation of thousands of jobs’… Now, in 2012, Fisker Automotive is laying off staff in order to qualify for more government loans. So, President Obama’s ‘green’ energy stimulus was supposed to create jobs; now it’s destroying jobs so that companies can get more stimulus?”

About now-bankrupt, and under-investigation for fraud, Abound Solar, we wrote:

“President Obama, in July 2010, praised Abound Solar, which was to make advanced solar panels … He believed these plants would be huge job creators: ‘2000 construction jobs and 1500 permanent jobs.’ In December 2011, CEO Craig Witsoe called Abound Solar the “anti-Solyndra” saying that his company is “doing well and growing.” However, just months after that optimistic report, Abound Solar filed bankruptcy…”

Due to the various loans, grants, and subsidies, it would take an investigative team made up of dozens of people to ferret out each and every true green-energy job that was created, absent that, we are hitting the high points in attempt to answer Ryan’s question: “Where are the 5 million green jobs?”

Short answer, even optimistically—and perhaps deceptively, according to a Bureau of Labor Statistics (BLS) news release, only 3.1 million green jobs were created. To reach this number, BLS counts jobs that “were associated with the production of green goods and services,” specifically those which “are found in businesses that produce goods and provide services that benefit the environment or conserve natural resources.” It is important to note that most of these 3.1 million jobs are primarily pre-existing jobs that have been reclassified as “green.” Once those existing jobs were shifted into the green column, through three-quarters of 2011 only 9,245 new “green” jobs were generated when the White House touts generating over 200,000 new jobs by 2010.

The House Oversight Committee wondered, just what are those jobs that are “associated with the production of green goods and services?”

On June 6, 2012, at a House Oversight hearing Rep. Darrell Issa (R-CA) questioned BLS Director John Galvin on his agency’s green jobs numbers. Through Galvin’s reluctant responses (he didn’t want to be there), we learned that the Obama administration’s labor department counts oil lobbyists, bus drivers, garbage men, etc., as green jobs—shameful, embarrassing, deceptive. According to how BLS rates green jobs, I have a green job. I qualify under several headings. After all, I do education and public awareness on environmental issues. Next time I am at a social event, where I am asked the inescapable: “What do you do?” I’ll respond: “I have a green job.”

Complete details can be found in a report on the “Green Job Myth” from the Institute for Energy Research (IER). It states: “the green-job definition is extremely broad and includes both direct and indirect jobs.”  Each of the following would qualify:

A person who sweeps the floor in a solar-panel manufacturing facility

A driver of a hybrid bus

A school bus driver

An employee who fills the bus with fuel

An employee involved in waste collection or water and sewer operations

A clerk at a bicycle repair shop

A manufacturer of rail cars

An oil lobbyist whose company is engaged in environmental issues

An employee of an environment or science museum.

Now that we know what the BLS constitutes as a green job—even recycled ones; those that already existed—we’ll look at the billions of taxpayer money spent on green jobs. We’ll focus specifically on just two programs: the Loan Guarantee Program and the Renewable Energy Grant Program.

On June 19, 2012, Veronique de Rugy, a senior research fellow at the Mercatus Center at George Mason University, testified at the House Committee on Oversight and Government Reform hearings on the Loan Guarantee program. Within her thorough assessment of the program, she states: “since 2009, Department of Energy has guaranteed $34.7 billion in loans, 46 percent through the 1705 loan program, 30 percent through the 1703 program, and 14 percent through the Advanced Technology Vehicles Manufacturing (ATVM) loan program.” And, that “some 2,378 permanent jobs were claimed to be created under the program. This works out to a potential cost per job of $6.7 million.”

The 1603 Grant Program was implemented as part of the Obama stimulus, and is administered by the Treasury Department, with the goal of reimbursing eligible applicants for a portion of the costs of installing specified energy property used in a trade or business or for the production of income. Basically, 1603 gives billions in favored-businesses, tax-free cash gifts that do not have to be paid back.

The June 19, 2012 Subcommittee on Oversight and Investigations hearing on “The Federal Green Jobs Agenda,” highlighted the “gimmick” accounting method used by the BLS. Testimony revealed that a multi-billion dollar stimulus program, the section 1603 grants for renewable energy, does not even include job creation among its primary objectives—which obviously contradicts the purpose of the 2009 trillion-dollar Obama stimulus package.

Congressional Research Services expert, Dr. Molly Sherlock, deflected direct questions regarding the total jobs created by the 1603 program. “If you’re looking at the direct jobs, this one estimate has direct jobs created at 3,666 in the construction phase, and direct jobs created at 355. Direct jobs would just be the construction jobs and the ongoing operations and maintenance jobs. But if you wanted to look at the supporting jobs in other industries then you’d want to look at the other figures.”

According to the Washington Free Beacon, Rep. Cory Gardner (R-CO) pressed on: “I just want to know how many jobs were created”

Sherlock admitted: 355 jobs created a year, for $10 billion—which comes out to about $28 million per job.

Washington D.C. Tops List of Richest Cities….

What’s wrong with that picture? All the stimulus, regulations, bailouts and other spending in the name of the poor and who gets rich?

CBS Local:

LANHAM, Md. (CBSDC) — The Washington region is well off financially.

The D.C. metro area sits atop The Wall Street Journal’s list of America’s richest cities.

D.C. area residents have a median household income of $86,680, well above the national average of $50,502.

The large salaries may be attributable to the nearly 47 percent of workers who hold college degrees, making Washington one of the most highly educated areas in the country.

The list also shows more adults in the area were able to find employment during a down economic time.  Just 5.8 percent of the workforce were unemployed in 2011.

Only 8.3 percent of Washington homes are living below the poverty line — the fifth lowest ranking in the country.

McAllen, Tex. is the country’s poorest city with a median income of $31,077.

Overall, the list shows a decline in the national median income for a second straight year and a seven percent decline since 2007.

GM Brags: Since bailout 70% of our manufacturing outside of US. Announced GM R&D moving to China (video)

This will make your stomach turn. Your bailout money goes to sponsor Chinese propaganda films sponsored by GM. You can watch a GM CEO Dan Ackerson brag that since the bailout 70% of GM’s manufacturing is outside of the USA. They also announced that much of GM’s R&D will move to China in part so as to give advanced technology to the Chinese Government.

Remember that according to far left university academic theory U.S. wealth is essentially “capitalist ill-gotten gains” and that our wealth needs to be transferred to the rest of the world.

Obama Advisor Valerie Jerrett’s Cook County Luxury Towers Assessed at 25% of Value

Valerir Jarrett is a Chicago Democrat Party power broker and President Obama’s most trusted advisor. The slum lord side of her business has been known to those active in politics for a long time, but outside of Chicago what is less known is that the Chicago Tax Board of Review, which is headed by Cook County Democrat Chairman Joe Berrios, is essentially ran as a RICO enterprise trading influence and donations for big breaks on property tax assessments. We wrote about this as a part of a larger story on Chicago corruption HERE.

[See the RICO filing against the Chicago BOR HERE. The RICO complaint charges the Commissioners on the Board of Tax Appeals and their staff with extortion and bribery. It states that the Commissioners, powerful members of the Cook County Democratic Party and the Machine, grant tax reductions based upon the campaign contributions made by property tax law firms and lawyers who practice before the Board of Review. Institutionalizing “bribery and quid pro quo as the mandatory means for the adjudication of tax appeals” in Chicago.] 

Washington Free Beacon:

Senior White House adviser and long-time Obama confidant Valerie Jarrett’s role in a number of controversial Chicago housing developments has garnered her investments worth millions of dollars while highlighting the administration’s extensive business ties to presidential donors.

Before joining the Obama administration in 2009, Jarrett was president and chief executive officer of the Habitat Company, a real estate development firm founded by major Democratic donor Daniel Levin. Before that, she served three years as commissioner of the Chicago Department of Planning and Development under Mayor Richard Daley.

Jarrett currently owns an 11-percent equity interest in Kingsbury Plaza, a 46-story luxury apartment complex developed by Habitat between 2005 and 2007 at a cost of more than $100 million.

She valued the investment at between $1 million and $5 million on her 2011 financial disclosure form, up from $250,001 in 2010. A Jarrett spokesman told the Washington Times that the investment was “a direct result of her 13 years working for Habitat.”

Cook County records show the Kingsbury property is worth around $27.2 million, but thanks to a series of legal appeals beginning in 2003, the land and building are assessed at a much lower value for tax purposes. Since 2008, the property has been designated a “special commercial structure” and is taxed at a value of just $6.8 million, or 25 percent of the actual value.

Asked how such a property could enjoy such a low taxable value, an official with the Cook County Assessor’s Office told the Free Beacon that the property’s owners “must have good attorneys.”

Jarrett and Obama
Valerie Jarrett and Barack Obama

In addition to Jarrett’s investment through her former employer, she received deferred compensation of more than $556,000 in January 2009, on top of her $302,000 salary the previous year.

Levin, the firm’s founder, has close ties to the Obama administration and the Democratic Party. Levin and his wife, Fay Hartog Levin, are long-time acquaintances of the president’s, and have personally donated nearly $1 million to Democratic candidates and committees since 1989, including about $25,000 each to Obama.

In 2009, President Obama appointed Hartog Levin ambassador to the Netherlands, a move that drew criticism from government accountability advocates. The president has a history of awarding top donors and fundraisers with ambassadorships and other administrations posts.

The Levins each hold personal stakes in the Kingsbury development worth at least $1 million as of 2011.

Jarrett’s involvement in Chicago real estate development between 1992 and 2009 was marred with controversy, much of which centered on Habitat’s role as the sole developer for “family public housing,” a status granted under a district court ruling in 1987.

Under Jarrett’s leadership, Habitat oversaw the development of a number of public housing projects, one of which, in the Cabrini Green neighborhood, was dubbed a “national symbol of urban despair.” Others became so run-down the city had to ask the federal government to intervene.

A 2003 Harvard Law Review article cited the decline of the Cabrini Green development as an embodiment of the negative consequence associated with the “privatization of public housing.”

“They are rapidly displacing poor people, and these companies are profiting from this displacement,” Matt Ginsberg-Jaeckle of Southside Together Organizing for Power, a Chicago community organization, told the Boston Globe in 2008.

More energy price hikes and power shortages on the way due to government regulation

Government picking winners and losers and getting kickbacks in what has become “Greenscam”, an effort to funnel tax dollars into far left eco-extremists groups and the Democratic Party – LINK.

Read carefully – Marita Noon:

“Once real numbers have come out about renewable energy costs, people are having second thoughts,” reported Maureen Masten, Deputy Secretary of Natural Resources and Senior Advisor on Energy to Governor Bob McDonnell, VA,  while addressing his “all of the above energy” strategy to meet the state’s energy needs.

The real costs of renewable energy are coming out—both in dollars and daily impacts. After years of hearing about “free” energy from the sun and wind, people are discovering that they’ve been lied to.

On Tuesday, August 14, the New Mexico Public Regulation Commission (PRC) approved a new renewable energy rate rider that will allow the Public Service Company of New Mexico (PNM) to start recovering a portion of its recent development costs for building five solar facilities around the state, a pilot solar facility with battery storage, and wind resource procurements. The renewable rider could be on ratepayers’ bills by the end of the month—“depending on when the commission publishes its final order,” said PNM spokeswoman Susan Spooner.

The rate rider currently represents about a $1.34 increase for an average residence using 600 kilowatt hours of electricity per month—or a little more than $16 per year. This increase seems miniscule until you realize that this is only a small part of increases to come. PNM needs to recover $18.29 million in renewable expenditures in 2012 and the rate rider only addresses monies spent in the last four to five months. The remaining expense will be carried into 2013.

Like more than half of the states in the US, New Mexico has a Renewable Portfolio Standard (RPS) that mandates public utilities have set percentages of their electricity from renewable sources. In New Mexico the mandate is 10 percent this year, 15 percent by 2015 and 20 percent by 2020. Most states—with the exception of California (which is 33 percent by 2020)—have similar benchmarks. To meet the mandates, PNM will need considerably more renewable energy with dramatically more expense—all of which ultimately gets passed on to the customer. PNM acknowledges that the rider will increase next year and predicts the total cost recovery for 2013 to be about $23 million. By 2020, based on the current numbers of approximately $20 million a year invested, resulting in a $24 a year increase, consumers’ bills will go up about $200 a year just for the additional cost of inefficient renewable energy.

Had the PRC not approved the special rate rider, costs would be even higher. Typically rate increases are only approved at periodic rate case hearings, usually held every few years. The system of only allowing rate increases after a lengthy hearing, keeps the costs hidden from the consumer for longer but increases costs to the utility and, ultimately, the consumer, due to interest charges on the borrowed money. PNM believes the rider will allow for more “timely recovery of costs,” resulting in a $2.7 million savings.

Environmental groups, who’ve been pushing for the renewable energy increases, opposed the special renewable rate rider and have threatened a potential appeal of the PRC’s decision. It is hard to tout “free” energy when there is a special line on the utility bill that clearly points out the new charge for renewables.

So, renewable electricity is hardly free. It also isn’t there when you need it—like in the predictable summer heat of California.

To meet their 33 percent renewable mandate, California’s utility companies, like New Mexico, have been installing commercial renewable electricity facilities—with wind capable of providing about 6 percent, and solar 2 percent, of the state’s electric demand. But in the summer heat, the wind doesn’t blow much and the solar capacity drops by about 50 percent when the demand is the highest.

Despite increasing renewable capacity and an exodus of the population, California has been facing threats of rolling brown/blackouts due to potential shortages. TV and radio ads blanket the air waves begging consumers to limit electricity usage by setting their air conditioners at 78 degrees and using household appliances only after 6PM. “Flex Alerts” have been issued stating: “conservation remains critical.” “Consumers are urged to reduce energy use,” “California ISO balances high demand for electricity with tight power supplies” and “maintain grid reliability.”

Even with expedited permitting, California cannot build renewable electricity generation fast enough. Environmentalists block construction due to species habitat, such as that of the desert tortoise or the kit fox. If they oppose renewable energy construction, you can imagine the vitriol they extend toward coal, natural gas, and nuclear. There is a big push to shut down nuclear power plants and new natural-gas plants, which are ideal for meeting the needs of “peak demand,”are fought by the very same groups that are pushing electric cars.

San Diego-based, nationally syndicated radio talk show host Roger Hedgecock observed: “Right at the moment in California, building new electricity generating power plants of any kind is politically taboo. Electricity itself is becoming politically taboo.”

Texas has been faced with both increasing costs and fears of shortages. “Concerned about adequate electricity supplies,” the Texas Public Utility Commission recently voted to allow electricity generators to charge up to 50 percent more for wholesale power. The increase is to encourage the building of new power plants in the state with the highest capacity in the country for wind electricity generation.

Apparently new electricity-generating power plants are politically taboo in Texas, too—at least within the environmental community. Instead of encouraging new power plants to be built, Ken Kramer, the Texas head of the Sierra Club, said, “A better idea would be to encourage more energy-saving programs”—perhaps like setting the thermostat to 78 degrees and not turning on appliances until after 6PM.

When will Americans revolt over being forced to use less while paying more?

We know that high energy prices are just the beginning of inflation that raises the cost of everything from food to clothing to manufactured goods. When the cost of manufacturing goes up, industry moves to countries with lower-priced energy, cheaper labor, and more reasonable regulations. Jobs go overseas and we import more. The trade deficit grows, and America is less competitive.

The higher electricity costs are 100 percent due to government regulation and legislation that are unreasonably crushing American businesses and ratepayers—much like the pressure England imposed on the American colonies that launched the American Revolution.

Fauquier County, Virginia persecuting small farms in violation of state law.

Fauquier County is in in violation of the Virginia Right to Farm Act, but they don’t care as they think they have immunity and when they get sued it is the taxpayer who pays, not the people who actually broke the law.

The Blaze:

When Martha Boneta hosted a birthday party for a friend’s 10-year-old daughter on her Virginia farm, she didn’t expect to have the county come knocking on her door.

But come knocking it did — threatening her with nearly $5,000 in fines.

Fauquier County officials say Boneta, owner of the 70-acre Liberty Farms in Paris, Va., didn’t have the proper permit to host the party, nor to sell produce on her own land. Zoning Administrator Kimberley Johnson sent her a cease-and-desist letter in April after the party, warning her with the financial consequences if she didn’t stop her activities within 30 days.

Boneta told Fox News she wasn’t doing anything wrong — that selling produce is just about as old as farming itself, and that curiously she seems to be the only one being targeted — possibly because of a neighbor’s complaint.

“It’s rather odd that I’m the only farmer in the county having these issues,” she told Fox. “It’s customary to do these things. It’s done on farms throughout Virginia to help farming and agriculture.”

The Institute for Justice has taken the case.

 

UPDATE – Holland, Michigan puts hot dog stands out of business by charging a fee every day for a permit that costs more than what a hot dog cart can make – LINKLINK –    The boy who is being targeted by the city can be reached HERE. UPDATE – The boy and his disabled parents are now homeless – LINK.

GM Bailout: Obama Administration ordered the termination of retiree benefits for 20,000 non-union workers while topping off union benefits (video)

Welcome to Chicago….err I mean Detroit…..err I mean Washington; where if you don’t want to be punished you had better pay “the man”. This is unspeakable cruelty and where was the elite media?

UPDATE – Michelle Malkin tells the story:

UPDATE II – Retired Delphi Employees Spaek Out! http://www.whymrpresidentwhy.com/

UPDATE III – New ad tells story of how Obama screwed non-union GM employees:

Matt Boyle at The Daily Caller:

Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company.

The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions.

The internal government emails contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that the administration misled lawmakers and the courts about the sequence of events surrounding the termination of those non-union pensions, and that administration figures violated federal law.

Delphi, a 13-year old company that is independent of General Motors, is one of the world’s largest automotive parts manufacturers. Twenty thousand of its workers lost nearly their entire pensions when the government bailed out GM. At the same time, Delphi employees who were members of the United Auto Workers union saw their pensions topped off and made whole.

The White House and Treasury Department have consistently maintained that the Pension Benefit Guaranty Corporation (PBGC) independently made the decision to terminate the 20,000 non-union Delphi workers’ pension plan. The PBGC is a federal government agency that handles private-sector pension benefits issues. Its charter calls for independent representation of pension beneficiaries’ interests.

Former Treasury official Matthew Feldman and former White House auto czar Ron Bloom, both key members of the Presidential Task Force on the Auto Industry during the GM bailout, have testified under oath that the PBGC, not the administration, led the effort to terminate the non-union Delphi workers’ pension plan.

“As a result of the Delphi Corporation bankruptcy, for example, Delphi and the Pension Benefit Guaranty Corporation were forced to terminate Delphi’s pension plans, which means there are Delphi retirees who unfortunately will collect less than their full pension benefits,” Feldman testified on July 11, 2012.

The emails TheDC has obtained show that the Treasury Department, not the independent PBGC, was running the show.

Under 29 U.S.C. §1342, the PBGC is the only government entity that is legally empowered to initiate termination of a pension or make any official movements toward doing so.

NOTE – READ THE EMAILS HERE – LINK.

UPDATE IV – ‘Highly confidential’ internal Treasury documents show Obama admin’s involvement in Delphi pension scandal  – LINK

AFL/CIO Gives $206.7 Million to Obama, Gets 40% of All ObamaCare Waivers

This is is AFL/CIO Union President Richard Trumka. He said that government should take over all private business, who speaks in front of communist revolutionary groups, and has a long history of violence. Trumka brags that he talks to the White House every day and visits twice a week (video). Trumka also says that the best way to create jobs is to raise taxes. Keep in mind that each ObamaCare waiver results in a massive tax cut.

AFL/CIO Union Leader Rich Trumka
AFL/CIO Union Leader Rich Trumka

Forbes:

Waivers for Favors

When President Obama was campaigning in 2008, he spoke often of his desire to limit the influence of lobbyists in Washington. There’s only one problem: the more government involves itself in the private sector, the more private businesses needs to hire lobbyists to make sure that new laws and regulations don’t put them out of business. Inevitably, the next step involves campaign contributions to key lawmakers, protection money that ensures that the law favors those with the right political connections.

In the case of Obamacare, this phenomenon shows up in manifold ways. Roy Poses highlights the story of how Dr. Elias Zerhouni, former head of the National Institutes of Health, had leveraged his position into lucrative corporate packages. Timothy Carney of the Washington Examiner has been tracking a long list of Washington officials and staffers who are taking advantage of “The Great Health-Care Cashout.”

Then came the news last week the Department of Health and Human Services has granted over 700 waivers [Note – this number is up to 1,200 last we checked – Political Arena Editor] to Obamacare’s obtuse rule that businesses drop “mini-med” plans in favor of more expensive, comprehensive coverage. Many businesses, such as McDonald’s, were faced with dropping their health coverage entirely, rather than face the prohibitive expense of complying with the new law. So rather than repealing the regulation, HHS has taken it upon itself to grant waivers arbitrarily to those whom it deems fit.

The Casablanca-style shocker is that, of the more than 2 million workers who will benefit from the HHS waivers, 40 percent belong to labor unions [as of 2011] “Waivers for Favors,” as Michelle Malkin memorably put it:

The Teamsters Union, which hailed Obama last March for “enacting historic health care reform, providing health insurance to millions of Americans who don’t have it and controlling costs for millions more who do,” obtained waivers for 17 different locals.

The United Food and Commercial Workers International Union (UFCW), which celebrated the passage of Obamacare as “an achievement that will rank among the highest in our national experience,” secured waivers for 28 different affiliates.

The International Brotherhood of Electrical Workers — which exulted after the health-care law’s passage that “finally, affordable and comprehensive health care coverage will be available for millions of working Americans” — saw eight of its affiliates win shelter from the Obamacare wrecking ball.

The Communications Workers of America, which sent its workers to lobby for Obamacare on Capitol Hill as part of the Health Care for America Now front group funded by left-wing billionaire George Soros, snagged a waiver that will spare a hefty 19,000 of its members from the onerous federal mandate.

And the Service Employees International Union, which poured $60 million into Democratic/Obama coffers in 2008 and millions more into the campaign for the federal health-care takeover, added four new affiliates to the waiver list: SEIU Local 2000 Health and Welfare Fund, representing 161 enrollees; SEIU 32BJ North Health Benefit Fund, representing 7,020 enrollees; SEIU Local 300, Civil Service Forum Employees Welfare Fund, representing 2,000 enrollees; and SEIU Health & Welfare Fund, representing 1,620 enrollees.

That’s in addition to three other previous SEIU waiver winners: Local 25 SEIU in Chicago with 31,000 enrollees; Local 1199 SEIU Greater New York Benefit Fund with 4,544 enrollees; and SEIU Local 1 Cleveland Welfare Fund with 520 enrollees. This brings the total number of Obamacare-promoting SEIU Obamacare refugees to an estimated 45,000 workers represented by seven SEIU locals.

According to the Bureau of Labor Statistics, labor unions represent less than 7 percent of the private sector workforce, compared to 40 percent of HHS’ waivers. Does anyone seriously believe that HHS is handing these waivers out based on merit and need, rather than political self-interest?

Obama Gives AARP $52 Million – And It Wasn’t Because He Loves Seniors….

AARP, whose board of directors has been hijacked by liberal political activists threw seniors under the bus when they supported ObamaCare with its bureaucrats that can deny seniors access to care (after Obamacare is fully implemented) and its half a TRILLION dollars in Medicare cuts. President Obama of course sought to enrich those who run AARP with some giveaways [from my old college blog – yes we were paying attention even then]:

AARP Making Mega-Millions on Corrupt ObamaCare “Easter Egg” – LINK

Corrupt AARP Health Care Deal Puts Seniors at Risk – LINK

AARP and Many Others Hiking Premiums or Dumping Coverage Because of ObamaCare – LINK

 

Now this. Big Government:

Today, the Department of Labor proudly announced that it had given away some $260 million in grants to various organizations through its Senior Community Service Employment Program (SCSEP). SCSEP is “a community service and work-based training program for older workers – providing subsidized, part-time, community service training for unemployed, low-income persons 55 or older who have poor employment prospects.”

Sounds great. Except the biggest recipients of SCSEP cash are Democratic political surrogates.

The largest single recipient of general SCSEP funds was – you guessed it – the American Association of Retired Persons Foundation, which pulled down almost $52 million. The AARP Foundation is a wing of the AARP, which stands to make some $1 billion over the next decade thanks to Obamacare and spends hundreds of millions of dollars to push liberal policies. The head of the AARP contributed some $8,900 to Obama’s campaign committees in 2008.

Coincidentally, the DOL is handing $6.6 million to the National Urban League – and it just so happens that President Obama spoke at the NUL this week in an attempt to reinvigorate his black support base.

The goodies keep on coming for President Obama’s friends. And that’s his entire campaign strategy: buy off specific constituency with taxpayer cash, and then let them push him to victory.

Senator Hatch: Obama Holding Country Hostage With Tax Plan

The GOP needs to get the message out that the tax the Democrats wish to raise does not have much impact on millionaires and billionaires, because most of their income is defined as “unearned”; rather it will impact the small businesses who actually employ people the most.

Remember that new taxes that are designed to soak the rich for some reason just don’t. Instead they impact the productive middle class and risk takers which benefits large, well connected mega-corps.

Newsmax:

President Barack Obama blamed Republicans on Saturday for a stalemate that could increase taxes on Americans next year while a leading Senate Republican cast Obama and his Democratic Party as obstructionists who want to place the tax burden on businesses during an economic slowdown.

In his weekly radio and online address, Obama pressed the Republican-controlled House to extend Bush-era tax cuts for households making $250,000 or less while letting lower rates on wealthier taxpayers expire and go up. The Democratic-controlled Senate narrowly passed such a measure earlier in the week, but the House is not expected to follow suit.

“Instead of doing what’s right for middle-class families and small-business owners, Republicans in Congress are holding these tax cuts hostage until we extend tax cuts for the wealthiest Americans,” Obama said.

Responding on behalf of the congressional GOP, Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee, said Obama’s plan would do more harm to the economy and criticized him with almost identical language. He called for extending current tax rates for all taxpayers and spending 2013 overhauling and simplifying the tax code.

“Raising taxes as our economy continues to struggle is not a solution, and the majority of Americans and businesses understand that,” Hatch said. “The president and his Washington allies need to stop holding America’s economy hostage in order to raise taxes on those trying to lead our economic recovery.”

Obama Gives $737 Million to Solar Firm Ran by Pelosi’s Brother…

Just when you thought this was bad enough…

House Democratic Leader Nancy Pelosi
House Democratic Leader Nancy Pelosi

By Jim Hoft, Gateway Pundit:

It’s as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.

Corrupt banks still paying Democrats….

In 2008 I wrote a long series of articles about the mortgage collapse, who engineered it, who got paid and who is lying.

Related: House Oversight Committee: Members of Congress Received Special Favors from Mortgage Lenders – LINK

Our dear friend Michelle Malkin has put out a column that takes us through memory lane on who was getting paid by the big banks, who was peddling influence, and who was engaging in a pattern of government corruption that is becoming all too familiar. And what is below is only HALF of her column as the examples are almost unending….

 

Michelle Malkin:

Your guide to sleazy Democratic Party-backed banks
Obama campaign adviser David Axelrod and his hatchet people are still yammering about GOP presidential rival Mitt Romney’s overseas investments. It’s time for the Romney campaign to educate voters about all the shady financial institutions embraced by Democrats right here on American soil.

The fat-cat narrative attacks on Republicans won’t go away by making nice with the White House — or by relying on Beltway journalists to drop their double standards and vet the president’s own bad bank entanglements. Indeed, The New York Times admitted this week that their staff and other political journalists from every major media outlet submit their work to the White House for unprecedented review, editing and “veto power.”

Fortunately, the truth manipulators and message massagers haven’t gotten to this column yet. So, let’s talk sleazy Democratic Party-backed banks, shall we?

Fannie Mae/Freddie Mac. Forget Switzerland. The mother and father of all financial industry outrages are rooted in Washington, D.C. And Obama Democrats are among the biggest winners of lavish, out-of-control compensation packages from fraud-plagued Fannie Mae and Freddie Mac. Obama confidante James Johnson raked in $21 million. Former Obama chief of staff and current Chicago Mayor Rahm Emanuel “earned” at least $320,000 for a brief 14-month gig at Freddie Mac. And Clinton Fannie Mae head and Obama economic confidante Franklin Raines bagged some $90 million in pay and stock options earned during the government-sponsored institution’s Enron-style accounting scandal on the public dime.

Self-appointed banking policewoman and DNC Chair Debbie Wasserman Schultz has, uncharacteristically, kept her mouth shut about these wealthy barons.

Superior Bank. One of the Obamas’ oldest Chicago friends and wealthiest billionaire bundlers, former Obama national finance chairwoman Penny Pritzker, headed up this subprime lender. Even after it went under in 2001 and left 1,400 customers destitute, Pritzker was pushing to expand its toxic subprime loan business. Pritzker and her family escaped accountability by forking over $460 million over 15 years. Obama happily accepted the nearly $800 million in campaign and inaugural funding Pritzker drummed up for him. To protect her family’s multibillion dollar fortune, Pritzker’s enterprises park their money in the very same kind of offshore trusts her candidate is attacking Romney over.

Broadway Bank. In 2010, President and Mrs. Obama personally raised money for their Chicago friend and fundraiser Alexi Giannoulias, who ran unsuccessfully for Obama’s old Illinois Senate seat. As I reported then, Giannoulias’ Greek immigrant family founded Chicago-based Broadway Bank, a now-defunct financial institution that loaned tens of millions of dollars to convicted mafia felons and faced bankruptcy after decades of engaging in risky, high-flying behavior. It’s the place where Obama parked his 2004 U.S. Senate campaign funds. And it’s the same place where a mutual friend of Obama and Giannoulias — convicted Obama fundraiser and slumlord Tony Rezko — used to bounce nearly $500,000 in bad checks written to Las Vegas casinos.

Chicago’s former inspector general blasted Giannoulias and his family for tapping $70 million worth of dividends in 2007 and 2008 as the real estate crash loomed. Broadway Bank was sitting on an estimated $250 million in bad loans. The cost to taxpayers after the bank was shut down two years ago: an estimated $390 million.

ShoreBank. The “progressive” Chicago-based community development bank, a “green” financial institution whose mission was to “create economic equity and a healthy environment,” folded in August 2010. Obama personally had endorsed the politically connected bank and appeared in a video promoting its Kenyan microlending project. But it was a doomed social justice experiment. After regulators shut it down, Obama crony companies including Bank of America and Goldman Sachs took over the mess courtesy of taxpayer subsidies.

Countrywide/Bank of America. Earlier this month, the House Oversight and Government Reform Committee released a report on corruption-plagued Countrywide Financial Corp., which was bailed out by taxpayer-bailed-out Bank of America. The House investigation confirmed the notorious favor-trading scheme, which involved sweetheart home loan deals for members of Congress and their staff, top government officials and executives of doomed mortgage giant Fannie Mae.

“These relationships helped (Countrywide CEO and Democratic subprime loan king Angelo) Mozilo increase his own company’s profits while dumping the risk of bad loans on taxpayers,” according to the new report. Mozilo copped a $67.5 million plea to avert a high-stakes public trial in the heat of the 2010 midterm election season. Since then, Obama’s Justice Department has taken no action to prosecute Countrywide officials on federal bribery charges.

Among the influence-peddling operation’s most prominent beneficiaries: the aforementioned Obama top adviser Jim Johnson, who accepted more than $7 million in below-market-rate Countrywide loans, and former Senate Banking Committee Chairman Chris Dodd, whose ill-fated 2010 re-election bid was personally endorsed by Obama. Obama stood by Dodd even as sordid details of his two discounted Countrywide loans and record Countrywide PAC donations mounted.

Bank of Democratic America, which raked in $45 billion in Obama-supported TARP bailout funds and billions more in secret emergency federal loans, footed the $50 million restitution payment bill for Mozilo and another Countrywide official. In 2008, BofA’s political action committee gave its biggest contributions to Obama, totaling $421,000. And as I noted in January, Bank of America supplied the Democrats with a $15 million revolving line of credit, along with an additional $17 million loan during the 2010 midterms.

Embarrassed by the party’s ties to shady Bank of America, progressives are now trying to rebrand the Bank of America Stadium in Charlotte, N.C., where Obama will give his nomination acceptance address. They’re referring to it as “Panthers Stadium” instead.

Chevy Volt Costs Tax Payers $250,000 Per Car, Low Sales, Huge Losses; Elite Media Silent

But when there was a tiny uptick in Chevy Volt sales in June the elite media was ecstatic.

NewsBusters:

The President is running in large part on the bailout’s $30+ billion loss, uber-failed “success.”  And the Press is acting as his stenographers.  An epitome of this bailout nightmare mess is the electric absurdity that is the Chevrolet Volt.  The Press is at every turn covering up – rather than covering – the serial failures of President Obama’s signature vehicle.

The Press has failed to mention at least five Volt fires, myopically focusing on the one the Obama Administration hand-selected for attention.

The Press has failed to mention that the Volt fire problem remains unsolved.  Is it the battery?  Is it the charging station?  Is it the charging cable?  All of the above?

GM and the Administration don’t know.  And the Press ain’t breaking their necks trying to find out.

In more recent news, the Press has almost as one hailed the June Volt sales increase.

GM’s Volt Sales Up in June

Surprising June Sales for Volt

Chevy Volt Leads US Plug-In Car Sales

Chevy Volt Sales Increases

Volt Records Second-Best Sales Month

The Press has for the most part failed to mention how pathetic this “second-best sales month” actually is.  And even when one Dinosaur does, the unwarranted enthusiasm is palpable.

GM sells 1760 Volts in June, double from 2011

Wow.  Huge number.

The Press also fails to put this pathetic tally in perspective.

The Chevy Cruze is basically a Volt without the dead-weight, flammable 400-lb. electric battery.  Which makes it $17,000, rather than the Volt’s $41,000.

Chevy in June sold 18,983 Cruzes – more than ten times the number of Volts.  And that’s down 1/3 from last June’s 24,648.

But that feeble Volt tally has the Press all revved up.

And speaking of the Volt’s ridiculous $41,000 sticker price:

According to multiple GM executives there is little or no profit being made on each Volt built at a present cost of around $40,000. Furthermore, the $700 million of development that went into the car has to be recouped.

Get that?  GM makes “little or no profit” on the Volt.

So it makes perfect sense that GM would spend millions of dollars advertising it, does it not?  No ideological or campaign intent there, eh President Obama?

Look, I get it, it’s fun.  I just spent $1 million – of your money – advertising free air.  On which my profit margin is just as good as GM’s is on the Volt.

Only my ads didn’t have a song, or a dance.  We just aren’t as cool as the Volt.

I mean, it’s so cool – it can travel back in time to inspire the production of cars before it even existed.

I mean, it’s so cool – it can travel back in time to offer the exact same technology as a car from 1991.  And the exact same electric battery range as a car from 1897.

We’re talking retro-grade cool.

But wait – there’s so much more.

(A)dd $240 million in Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea of how much taxpayer cash is built into every Volt.

Speaking of those “tax breaks for purchasers and other consumer incentives” – as of November of last year that tally all by itself was $250,000 per Volt sold.

And that excruciating pain is ongoing.  Again, a Volt sold makes GM no money – but costs We the Taxpayers a $7,500 bribe – I mean “incentive.”  Oh – and President Obama wants to jack that bribe to $10,000 per.

I guess it’s good news after all that Volt sales remain so anemic.

And with GM’s new 60-day return policy, it looks like you can buy a Volt and cash the $7,500 bribe check. Then return the Volt – and keep the $7,500 bribe cash.  How’s that for Taxpayer coin stewardship?

Political Ad: This is how Obama defines “a fair shot” (video)

With so many of thee green energy boondoggles it looks like this: Obama gives big taxpayer money to a fund raiser who is an owner in a “green energy company”. Said owners pay themselves in a big way, give big money to Democrats and go out of business – 15th Green Energy Company Funded By Obama Goes Under (video).

House Oversight Committee: Members of Congress Received Special Favors from Mortgage Lenders

Including the Democrat Chair of the Senate Banking Committee Chris Dodd who was in a position to block mortgage reform legislation, either in Committee or through filibuster and so he did. Republican Senators and the Bush Administration tried repeatedly since 2001 to get such legislation passed Chris Dodd and were unable to do so.

Here’s a quote from the House Oversight Committee’s staff report on Countrywide Mortgage influence-peddling:

http://oversight.house.gov/wp-content/uploads/2012/07/Countrywide-112th-Report-7.3.12-1207-PM.pdf

“Considering the cost to taxpayers of the failure to reform the GSEs, Congress should consider legislation prohibiting companies from offering discounts and other forms of preferential treatment to Members of Congress and congressional staff. In addition to mortgage lenders like Countrywide, such legislation should cover banks, auto dealerships, jewelry stores, and any other company that offers financing to customers.To foreclose the possibility that a lender might apply a discount to a loan without their knowledge, Members of Congress and congressional staff should consider notifying all parties to complex financial transactions that they must not receive discounts due to congressional ethics rules, as Congressman Sessions did.”

Leading Demographer: The Great California Exodus

Related:

California tops states in teen unemployment. Students with jobs hits 20 year low – LINK

Nine of the top 10 jobless metro areas are in California – LINK

Wall Street Journal:

A leading U.S. demographer and ‘Truman Democrat’ talks about what is driving the middle class out of the Golden State.

‘California is God’s best moment,” says Joel Kotkin. “It’s the best place in the world to live.” Or at least it used to be.

Mr. Kotkin, one of the nation’s premier demographers, left his native New York City in 1971 to enroll at the University of California, Berkeley. The state was a far-out paradise for hipsters who had grown up listening to the Mamas & the Papas’ iconic “California Dreamin'” and the Beach Boys’ “California Girls.” But it also attracted young, ambitious people “who had a lot of dreams, wanted to build big companies.” Think Intel, Apple and Hewlett-Packard.

Now, however, the Golden State’s fastest-growing entity is government and its biggest product is red tape. The first thing that comes to many American minds when you mention California isn’t Hollywood or tanned girls on a beach, but Greece. Many progressives in California take that as a compliment since Greeks are ostensibly happier. But as Mr. Kotkin notes, Californians are increasingly pursuing happiness elsewhere.

Nearly four million more people have left the Golden State in the last two decades than have come from other states. This is a sharp reversal from the 1980s, when 100,000 more Americans were settling in California each year than were leaving. According to Mr. Kotkin, most of those leaving are between the ages of 5 and 14 or 34 to 45. In other words, young families.

The scruffy-looking urban studies professor at Chapman University in Orange, Calif., has been studying and writing on demographic and geographic trends for 30 years. Part of California’s dysfunction, he says, stems from state and local government restrictions on development. These policies have artificially limited housing supply and put a premium on real estate in coastal regions.

“Basically, if you don’t own a piece of Facebook or Google and you haven’t robbed a bank and don’t have rich parents, then your chances of being able to buy a house or raise a family in the Bay Area or in most of coastal California is pretty weak,” says Mr. Kotkin.

While many middle-class families have moved inland, those regions don’t have the same allure or amenities as the coast. People might as well move to Nevada or Texas, where housing and everything else is cheaper and there’s no income tax.

And things will only get worse in the coming years as Democratic Gov. Jerry Brown and his green cadre implement their “smart growth” plans to cram the proletariat into high-density housing. “What I find reprehensible beyond belief is that the people pushing [high-density housing] themselves live in single-family homes and often drive very fancy cars, but want everyone else to live like my grandmother did in Brownsville in Brooklyn in the 1920s,” Mr. Kotkin declares.

Read more HERE.

The head of Barack Obama’s “Jobs Council”, is moving even more jobs and infrastructure to China

Attacking the few companies that Bain Capital invested in that had to do some outsourcing to survive is the Obama Administration’s attack plan against Mitt Romney. But after setting up a jobs program for illegal aliens you would think that the hypocrisy from the Obama Campaign could not get much thicker; we thought that too and we were wrong.

Related – White House Connected GE Pays No Tax on $14 Billion ….Again! – LINK

 

Economic Collapse Blog has the details with multiple sources and links for your viewing pleasure:

GE-CEO-Jeffrey-Immelt
Jeffery Immelt – General Electric CEO, Head of Obama’s “Jobs Council”.

Jeffrey Immelt, the head of Barack Obama’s highly touted “Jobs Council”, is moving even more GE infrastructure to China.  GE makes more medical-imaging machines than anyone else in the world, and now GE has announced that it “is moving the headquarters of its 115-year-old X-ray business to Beijing“.  Apparently, this is all part of a “plan to invest about $2 billion across China” over the next few years.  But moving core pieces of its business overseas is nothing new for GE.  Under Immelt, GE has shipped tens of thousands of good jobs out of the United States.  Perhaps GE should change its slogan to “Imagination At Work (In China)”.  If the very people that have been entrusted with solving the unemployment crisis are shipping jobs out of the country, what hope is there that things are going to turn around any time soon?

Earlier this month, Immelt made the following statement to a jobs summit at the U.S. Chamber of Commerce….

“There’s no excuse today for lack of leadership. The truth is we all need to be part of the solution.”

Apparently Immelt’s idea of being part of the solution is to ship as many jobs overseas as he possibly can.

A recent article on the Huffington Post documented how GE has been sending tens of thousands of good jobs out of the country….

As the administration struggles to prod businesses to create jobs at home, GE has been busy sending them abroad. Since Immelt took over in 2001, GE has shed 34,000 jobs in the U.S., according to its most recent annual filing with the Securities and Exchange Commission. But it’s added 25,000 jobs overseas.

At the end of 2009, GE employed 36,000 more people abroad than it did in the U.S. In 2000, it was nearly the opposite.

GE is supposed to be creating the “jobs of tomorrow”, but it seems that most of the “jobs of tomorrow” will not be located inside the United States.

The last GE factory in the U.S. that made light bulbs closed last September.  The transition to the new CFL light bulbs was supposed to create a whole bunch of those “green jobs” that Barack Obama keeps talking about, but as an article in the Washington Post noted, that simply is not happening….

Rather than setting off a boom in the U.S. manufacture of replacement lights, the leading replacement lights are compact fluorescents, or CFLs, which are made almost entirely overseas, mostly in China.

But GE is far from alone in shipping jobs and economic infrastructure out of the United States.  For example, big automakers such as Ford are being very aggressive in China.  Ford is currently “building three factories in Chongqing as part of $1.6 billion investment that also includes another plant in Nanchang”.

Today, China accounts for approximately one out of every four vehicles sold worldwide.  The big automakers consider the future to be in China.

Just a few decades ago, China was an economic joke and the U.S. economy was absolutely unparalleled.

Stroke of Obama’s pen and an entire industry is eliminated

Philip Morris does not like competition, even if it is small time boutique competition that really is no competition at all. In this case a big business and its lobbyists say “JUMP!” in an effort to stick it to a tiny small time competitor and the Congress and the President ask Philip-Morris “How high?” Don’t you wish that your Member of Congress was this responsive to you and our problems? This is why we need new leadership in BOTH parties. Prepare to be made ill by what you are about to read.

They say it is about tax revenues, suuuure, and Philip Morris paid big money to buy off politicians and engage in a massive lobbying effort because, you know, they just can’t stand to see the government maybe miss out on the statistically insignificant lower taxes from roll your own boutique tobacco? Gimme a break. What this is about is a big wealthy company snuffing out a tiny boutique one because the tiny one cannot afford a huge lobbying effort. Anyone who claims that “it’s about taxes” is insulting your intelligence.

There should be a concerted effort to see to it that Boehner is not re-elected Speaker.

Las Vegas Review Journal:

Roll-your-own cigarette operations to be snuffed out.

A tiny amendment buried in the federal transportation bill to be signed today by President Barack Obama will put operators of roll-your-own cigarette operations in Las Vegas and nationwide out of business at midnight.

Robert Weissen, with his brothers and other partners, own nine Sin City Cigarette Factory locations in Southern Nevada, including six in Las Vegas, and one in Hawaii. He said when the bill is signed their only choice is to turn off their 20 RYO Filling Station machines and lay off more than 40 employees.

“We’ll stay open for about another week to sell tubes and tobacco just to get through our inventory, but without the use of the RYO machines, we won’t be staying open,” he said.

The machines are used by customers who buy loose tobacco and paper tubes from the shop and then turn out a carton of finished cigarettes in as little as 10 minutes, often varying the blend to suit their taste. Savings are substantial – at $23 per carton, half the cost of a name-brand smoke – in part because loose tobacco is taxed at a lower rate.

“These cigarettes are different because there are benefits in saving money and in how they make you feel,” said Amy Hinds, a partner who operates the Sin City Cigarette Factory at Craig and Decatur.

“These cigarettes don’t have any of the chemicals in them, and the papers are chemical-free, unlike the cartons people buy from Philip Morris.”

But a few paragraphs added to the transportation bill changed the definition of a cigarette manufacturer to cover thousands of roll-your-own operations nationwide. The move, backed by major tobacco companies, is aimed at boosting tax revenues.

Faced with regulation costs that could run to hundreds of thousands of dollars, RYO machine owners nationwide are shutting down more than 1,000 of the $36,000 machines.

“I feel it’s kind of shaky,” Wiessen said. “The man who pushed for this bill is Sen. (Max) Baucus from Montana, and he received donations from Altria, a parent company of Philip Morris. Interestingly enough, there are also no RYO machines in the state of Montana. It really makes me question the morals and values of our elected speakers.”

Sierra Bawden, a single mom with two kids who started rolling her own smokes at Hind’s shop three months ago, said cost is only one factor.

“It saves me time and money, and in the end I feel better because I don’t get all of the chemicals that the other cigarettes have,” Bawden said. “With the brand-name cigarettes, we pay for the chemicals and the name, and I don’t want any of that, so I don’t even know what I’ll do when the shop closes down.”

15th Green Energy Company (UPDATE – Make that 36th) Funded by Obama Goes Under

UPDATE IV – Make that 50… – LINK

UPDATE III – October 18th 2012 – the number is 36 either filing for bankruptcy or about to – LINK

The latest “Solyndra” is Abound Solar.  With so many of these green energy boondoggles it looks like this: Obama gives big taxpayer money to a campaign donor who is an owner in a junk “green energy company”. Said owners pay themselves in a big way, give big money to Democrats and go out of business. “Scheming that the right people got their loan guarantees” – LINK.

Businessweek:

Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million U.S. loan guarantee, will suspend operations and file for bankruptcy because its panels were too expensive to compete.

Abound borrowed about $70 million against the guarantee, the Loveland, Colorado-based company said today in a statement. It plans to file for bankruptcy protection in Wilmington, Delaware, next week.

The failure will follow that of Solyndra LLC, which shut down in August after receiving a $535 million loan guarantee from the same U.S. Energy Department program. Abound stopped production in February to focus on reducing costs after a global oversupply and increasing competition from China drove down the price of solar panels by half last year.

Ouch –

U.S. taxpayers may lose $40 million to $60 million on the loan after Abound’s assets are sold and the bankruptcy proceeding closes, Damien LaVera, an Energy Department spokesman, said in a statement today.

For more coverage of green energy boondoggles and corruption see our Alarmism category.

Aside from Finnish car company (and Stimulus money recipient) Fiskar already having troubles, here is the list:

UPDATE – Make that 16 – Amonix Corp near Las Vegas closes doors after 14 months and $20 million in Green Energy grants – LINK

Solyndra
Abound Solar
Energy Conversion Devices
BrightSource
LSP
Evergreen Solar
Ener1
SunPower
Beacon Power
ECOtality
Uni-Solar
Azure Dynamics
Solar Trust

A123 – Being handed to the Chinese after they got our money? – LINK.

UPDATE II – A123 now filing for bankruptcy and selling assets to Johnson Controls – LINK.

President Obama statement praising A123

Obama’s FDA causing drug shortages

Washington Examiner:

President Obama’s Food and Drug Administration has caused “a public health crisis” — a prescription drug shortage over the past two years — by increasing the number of threats issued to raid and close drug manufacturing plants, according to House investigators.

“This shortage appears to be a direct result of over-aggressive and excessive regulatory action,” House Oversight and Government Reform Committee Chairman Darrell Issa, R-Calif., said in a statement. “These drugs can save lives and keep people who need them living healthy lives. The FDA is failing to ensure the availability of quality products.”

President Obama signed an executive order last year to help the FDA anticipate drug shortages while knocking Congress for failing to pass his preferred legislation on the issue. “Congress has been trying since February to do something about this,” Obama said in November. “It has not yet been able to get it done . . . we can’t wait.”

The committee report concluded that a significant portion of the drug shortage is a problem of the Obama administration’s making. “Among shuttered manufacturing lines that occurred over the previous two years, the committee’s review did not find any instances where the shutdown was associated with reports of drugs harming customers,” the report says, noting a 30 percent drop in the manufacture of certain prescription drugs at the largest manufacturers in the country.

Instead, the drug shortage crisis began in 2010 after the FDA began sending letters to companies found to be in violation of a given rule, in which the company was warned that “failure to promptly correct these violations may result in legal action without further notice including, without limitation, seizure and injunction.”

The FDA sent just 474 such letters in 2009, but that number spiked to 1720 in 2011. “A common sense approach to regulations must be restored at the FDA,” the committee report advised, calling for more targeted measures to induce company compliance with regulations. “Agency protocols should be revised so that the agency is required to consider the implications of its actions on the nation’s supply of critical drugs.”