The city of Detroit has filed for bankruptcy protection. It is the largest municipal bankruptcy case in U.S. history.
|By: DSWright Wednesday July 10, 2013 10:27 am|
While Big Business think tanks and lobbyists try to foster skepticism on climate change one mega-corporation has decided to take the science very seriously. Unfortunately that company is Monsanto and their plan is to expand their monopoly into climate-resilient crops.
|By: DSWright Friday March 29, 2013 6:50 am|
Hope and change strikes again. A provision many are dubbing the “Monsanto Protection Act” was covertly inserted into the Agricultural Appropriations Bill that President Obama signed Tuesday. The provision protects genetically modified food interests from litigation.
|By: David Dayen Thursday October 18, 2012 9:00 am|
The way in which the hedge fund syndicate secured these taxpayers dollars for Delphi sounds pretty much like blackmail. For example, according to Steven Rattner, the auto czar, Delphi demanded an immediate cash infusion of $350 million or they would stop supplying to GM. Oh, and Delphi promptly fired all the unionized workers at Delphi, cut health care for all their nonunion pensioners, and took the production jobs to China. Delphi employs less then 5,000 US workers, from a high of 25,000.
How do the Romneys figure into this? They have at least $1 million invested in Paul Singer’s Elliott Management, per their 2011 and 2012 financial disclosure. Based on that investment, they made at least $15.3 million on the deal, which involved ripping off the US taxpayer, shedding US jobs in favor of China, and using leverage created by the auto bailout to do it. Most of these profits have been kept offshore to avoid US taxes, of course. The Romneys protest that these investments are all held in a blind trust, but the executor of their blind trust is Romney’s personal lawyer.
Just another day in the life of a vulture capitalist, I guess.
|By: Lisa Derrick Monday November 7, 2011 5:00 pm|
It’s baaaack! The electric car is charging its way onto the freeways and Chris Paine, our guest tonight, documents the vehicle’s resurrection by GM (who killed off the EV1), Nissan and Tesla along with Reverend Gadget aka Greg Abbott’s retro-fitted electric cars which use the bodies of Boxters and other sports cars to house rechargeable batteries. In Revenge of the Electric Car, Paine takes us through the death of the EV1 to the return of the electric car, spurred as much by public demand as by rising gas costs, corporate rivalry, and in some cases the creators’ desire to redeem themselves or to be heroes.
|By: David Dayen Monday September 19, 2011 7:10 am|
The successful auto industry rescue is definitely a feather in the cap for the Administration, protecting up to a million direct and indirect auto industry jobs, and putting GM and Chrysler in a position to succeed. Now there’s a new contract with the United Auto Workers to share the success with labor.
One criticism of the rescue was that the UAW was forced to give up good wages for new employees and accept a two-tier structure for pay and benefits. But unless I have my timeline wrong, that all happened in a contract prior to the decision to forward additional loans to automakers in 2009. That contract expired, and the UAW just inked a new deal with GM that should serve as an industry standard. And they made some significant gains in this contract, a testament to how far back the industry has come.
|By: emptywheel Tuesday May 24, 2011 12:30 pm|
The DNC is focused on the GM and Chrysler headlines, not so much the suppliers, where the bulk of the jobs are. More importantly, the Democrats as a whole don’t seem to be cataloging the many examples where down-ticket Republicans are claiming credit for government investments in new technology that are just now paying off in jobs.
|By: emptywheel Tuesday May 10, 2011 4:32 pm|
|By: emptywheel Monday February 28, 2011 12:50 pm|
For the moment it looks like just three things have worked to create jobs: the MIC, QE2 and other policies favoring commodities, and actual industrial policy.