Senator Robert Menendez (D-NJ) and his co-defendant, Dr. Salomon Melgen, are expected to face trial in early 2017 on a score of corruption and bribery charges. Menendez had sought to have the indictments thrown out but on September 13 a Philadelphia-based appeals court refused, upholding an earlier ruling that rejected Menendez’ claim that the “speech […]
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Successor to ‘Clintons’ Favorite Bank’ in Trouble With FDIC
In a series of articles six years ago, National Legal and Policy Center detailed how politically connected ShoreBank – a community development lending institution based on Chicago’s South Side – was granted a bailout under unusual terms from the Federal Deposit Insurance Corporation and the U.S. Treasury after political pressure from area congressmen. Now its […]
Brit Investment Company Gives Up on US Electric Truck Maker
A British investment company has thrown in the towel on an electric delivery truck manufacturer that it once wholly owned, saw fail, then spun off in the United States at the height of President Obama’s green energy stimulus subsidy mania. U.K.-based Tanfield Group announced at the end of June that it wrote down the value of […]
Super-Subsidized Tesla’s Stock Suffers Precipitous Drop
Wall Street, media and government darling Tesla Motors has seen its stock price nearly halved from seven months ago. For so long it has seemed that ongoing bad news never had an effect on the heavily subsidized upstart, but now perhaps the Teflon is eroding off CEO Elon Musk. The precipitous, rapid descent preceded last […]
Letter Carriers President in Texas Charged with Credit Card Fraud
On December 3, Stanley Buchanan, former president of National Association of Letter Carriers Branch 493, was charged in Smith County (Tex.) Court with unauthorized use of a credit card issued by the Tyler-based union in the amount of $7,776. The indictment follows an investigation by the Labor Department’s Office of Labor-Management Standards.
Illinois Local AFSCME Treasurer Indicted for Embezzlement
Jeffrey Magelitz managed the finances of a union representing prison employees. Now he may wind up one of its inmates. On November 18, Magelitz, former treasurer of Local 415 of the American Federation of State, County and Municipal Employees, was indicted in U.S. District Court for the Southern District of Illinois for embezzlement and theft, […]
US Taxpayers Hold Largest Debt in Troubled Spanish Solar Company
A foreign renewable energy company, that U.S. taxpayers hold a major stake in via the Department of Energy Loan Program Office, is imperiled by massive debt and has begun the process of negotiating with its creditors as a prelude to possible bankruptcy. The company is Abengoa, based in Spain, which reportedly holds 887 subsidiaries around […]
Electric Vehicle Sales Plummet Without Taxpayer Subsidy
For years NLPC has reported that the “market” for electric vehicles was anything but free and competitive against traditional gasoline-fueled automobiles. Instead it is “all hype and subsidies.” The evidence could not be any clearer than what has happened in Atlanta. As Watchdog.org has reported, since a $5,000 state tax credit expired on July 1, […]
Consumer Reports Rescinds Recommendation for Tesla’s Model S
Imagine a product that performs so well, that an evaluator says it busted through the top of its grade scale, yet that same scorer can’t recommend the product due to issues of reliability. That would be a seeming disconnect in the real world, but in this case we are talking about the immortal Tesla Model […]
Lawsuit: Transportation Secretary Foxx Had ‘No-Show’ Job at Bankrupt Busmaker
Allegations in civil lawsuit threatens to mar the reputation of Secretary of Transportation Anthony Foxx (Flickr Photo: MTyndall). He has been sued in the case of defunct DesignLine USA. The Charlotte-based hybrid electric bus-maker declared bankruptcy in 2013 after years of missteps that included maintenance problems, production problems, missed deliveries, lawsuits, and an FBI investigation. Its assets were […]