Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts

Louis Woodhill: The Folly Of Government Venture Capital

Another $171 million taxpayer dollars down the tubes. If you go to www.fiskerautomotive.com, you see a picture of a red Fisker Karma sedan and the words, “Welcome.  New Site coming soon.”  Ominously, if you click on the “Tomorrow” link at the top of the page, nothing happens.  In fact, none of the links on the page produce any    ... MORE

Andrew Napolitano: When The Government Goes Bankrupt

What happens when the government goes bankrupt?   This question is one that sounds like a hypothetical exercise in a law school classroom from just a few years ago, where it might have been met with some derision. But today, it is a realistic and terrifying inquiry that many who have financial relationships with governments in America   ... MORE

Terence P. Jeffrey: Stockton Was Murdered

It was an inside job. Were a rational person given the assignment to search this planet to find the best place for human beings to live and build wealth, he might well settle on San Joaquin County, Calif. That is where Americans built a city called Stockton — the municipality a federal bankruptcy judge just declared dead. How did Stockton die?   ... MORE

Union Greed Drives California To Bankrupcy

by Steven Greenhut.  Few non-local people pay much attention to the goings-on in Stockton, a hard-pressed Gold-Rush-era industrial city of 300,000 that sits in the agriculturally rich San Joaquin Valley at the eastern edge of the California Delta. But bond-holders, taxpayers and government officials throughout the country will be listening to U.S.          ... MORE

John Stossel: Shopping Around For A Better Life

Thanks, California!    Thanks for your monstrous spending and absurd regulatory overreach! America needs you. We need Connecticut and Illinois, too! We need you the way we needed the Soviet Union, as models of failure, to warn us what happens if we believe those who say, "Government can." Moving to California was once the dream for many Americans.  ... MORE

Walter E Williams: A Hundred Percent Of Nothing

The power to control Detroit.    JoAnn Watson, Detroit city council member, said, "Our people in an overwhelming way supported the re-election of this president, and there ought to be a quid pro quo." In other words, President Obama should send the nearly bankrupted city of Detroit millions in taxpayer bailout money. But there's a painful lesson     ... MORE

John Stossel: About That Fiscal Cliff

It's less frightening than the bankruptcy cliff.     Yikes, we're headed toward a fiscal cliff! It will crush the economy! Or so the media and politicians tell us. The "cliff" is a series of tax increases and budget cuts that automatically go into effect Jan. 1 unless Congress acts. Will Congress act? It will! I see the future: The politicians will meet     ... MORE

Thomas Sowell - Killing The Goose

Incentives for destruction. Killing the goose that lays the golden egg is one of those old fairy tales for children which has a heavy message that a lot of adults should listen to. The labor unions which have driven the makers of Twinkies into bankruptcy, potentially destroying 18,500 jobs, could have learned a lot from that old children's fairy tale.             ... MORE

50 Obama-Backed Companies Are Financially Troubled

by Micheal Bastasch. The October bankruptcy of solar company Satcon Technology Corp. puts the number of bankrupt or troubled green energy companies as high as 50, according to one estimate. During the first presidential debate, Republican candidate Mitt Romney said the Obama administration had doled out $90 billion to green energy        ... MORE

Quarter-Billion-Dollar Stimulus Creates Just 400 Jobs

by Jim McElhatton. Battery maker A123 Systems vowed thousands of new jobs when it received a nearly quarter-billion-dollar stimulus grant in late 2009, but federal job-tracking figures show only a few hundred positions were created before the company joined a growing list of federally backed energy businesses that ended in bankruptcy.    ... MORE

How Government Workers Profit At Taxpayer Expense

by Steven Greenhut.   Stockton, California city workers who attended the unveiling of a new report detailing the trends in public-employee compensation in California on Wednesday night complained about cuts in their compensation packages that are causing hardship for them and their city. But the report, prepared on behalf of the Howard Jarvis  ... MORE

Shikha Dalmia: Big Labor Is Going For Broke In Michigan

Making unions more powerful than the legislature. We've seen Gov. Scott Walker's battle in Wisconsin and the Chicago Teachers Union strike next door. Now in Michigan comes another Midwestern political showdown that will carry enormous implications for the role of unions in American life. The Michigan Supreme Court recently approved  ... MORE

VIDEO: Social Security As A Wealth Redistribution


Walter E Williams explains Social Security is really a handout.

Steve Chapman: Obama's Auto Fairy Tale

Taking credit for every car sold since 2009. I'm a little hazy on the particulars, but as I understand things from the Democratic convention, a team of Navy SEALs landed in Detroit to save General Motors, and then autoworkers ran over Osama bin Laden repeatedly with a Chevy Volt. Or something like that. What was clear, regardless, is that the same   ... MORE

Steven Greenhut: California Goes Bankrupt

One city after another becomes insolvent. First Vallejo, then Stockton, then Mammoth Lakes, and now San Bernardino and soon possibly Compton. As Orange County Supervisor John Moorlach told Bloomberg News, the bankruptcy dominoes are starting to fall. One California city after another—following a decade-long spree of ramping up public-   ... MORE

Steve Conover: The Essential Lesson Of The Auto Bailout

Punishing success.    What do companies get when they act responsibly? Government-subsidized competition. On July 5 in the swing state of Ohio, President Obama treated voters to his campaign-2012 synopsis of the 2009 auto industry bailout: "When the American auto industry was on the brink of collapse and more than one million ... MORE

John Fund: California Demon

A state fast becoming America's version of Greece.  The lastest unemployment numbers show the economic recovery stalling. But as weak as the national economy is, it’s nothing compared to the condition of some states whose policies are guaranteed to scare away jobs and investment. Call it the European Disease: Run up spending and   ... MORE

John Fund: Off The Rails, Over The Cliff

California's train to nowhere: full speed ahead.  It’s hard to express how sad it was for me to watch, in person, as the state I grew up in committed fiscal suicide. I went down to the state capitol here on Friday afternoon to watch the state senate approve, by a single vote, a $4.7 billion bond package to build a high-speed-rail system from ... MORE