Category Archives: economy

Volkswagen Shareholders Approve Dividend Increase

The shareholders at the 52nd Annual General Meeting of Volkswagen Aktiengesellschaft voted by a majority of 99.96% to pay a dividend of €3.00 (previous year: €2.20) per ordinary share and €3.06 (€2.26) per preferred share as recommended by the Board … Continue reading

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Changan Ford Mazda to Build a New Plant in Hangzhou China

Ford Motor Company today announced it would build a new assembly plant in Hangzhou, China, adding 250,000 units of capacity. This latest $760 million investment by Ford and its communist-government required joint venture – Changan Ford Mazda Automobile – will … Continue reading

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EPA Issues Tougher Rules for Oil and Natural Gas Production

EPA – sensitive, if not given over to election year politics and high energy prices – also said the standards would enable companies to collect additional natural gas that can be sold. The updated EPA standards include the first federal clean air rules for natural gas wells that are hydraulically fractured, specifically requiring operators of new fractured natural gas wells to use what it says are cost-effective technologies and practices to capture natural gas that might otherwise escape the well. Continue reading

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DOE Gives EV Supplier UQM More Time on ARRAS Grant

The politically contentious American Recovery and Reinvestment Act contained billions upon billions in taxpayer funding to businesses though a number of Recovery Act and related programs, including loans, loan guarantees, grants, contracts and tax incentives, in partnership with the Department of Treasury. In total, CBO estimates that the legislation will increase budget deficits by about $831 billion over the 2009–2019 period. Continue reading

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EPA Releases 2010 U.S. Greenhouse Gas Inventory

The U.S. Environmental Protection Agency released today the 17th annual U.S. greenhouse gas inventory. The final report shows overall emissions in 2010 increased by 3.2% from the previous year because the economy expanded slightly. In addition, a factor was an … Continue reading

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Taxpayers to Turn Profit from Controversial TARP Bailouts

TARP, arguably the most contentious of the Federal government’s attempts to stop the U.S. and global economies from sliding into another Great Depression or worse, prevented the collapse of the financial system by bailing out profligate and reckless Wall Street firms. To date not one person has been successfully prosecuted for the rampant financial fraud that caused the housing and stock markets to collapse. Continue reading

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Commercial Freight Shipments Rise Slightly in February

Shipments in February 2012 were at the second highest level since the early recession month of April 2008 despite the 3.0% decline from December 2011 (113.7 on the index), which was the highest level in the 22-year history of the series. Whether this constitutes a recovery is unclear. Continue reading

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Automobile$ Provide $91.5 Billion in $tate Tax Revenue$

The amount of revenue involved begs questions about the lack of U.S. industrial policy – alone among industrialized countries – as well as what critics say is anti industry attitudes among politicians and regulators. These critics also point to the actively hostile policies of the U.S. State and Defense Departments, which support and protect offshore automakers, while increasing taxes for U.S. based automakers. Continue reading

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Justice Department Seizes Counterfeit Chinese Sports Jerseys

The Department of Justice has seized more than $896,000 in proceeds from the distribution of Chinese made counterfeit sports apparel and jerseys as the result of an investigation into the sale of bogus goods on commercial websites. The individuals involved, based in China, sold counterfeit professional and collegiate sports apparel, primarily counterfeit sports jerseys. Continue reading

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Jobless Recovery as U.S. Employment Barely Grows in March

Some independent estimates have the real U.S. unemployment levels at 14% or more, as politicians in a dysfunctional Washington try to cast the blame on the other party. One thing is certain; unemployed do not increase revenues via payroll or social security taxes, at a time of soaring deficits. Continue reading

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Delta Largest U.S. Airline. American Largest Overseas

Delta Air Lines, because of its merger with Northwest Airlines, carried more total system passengers in 2011 than any other U.S. airline for the second consecutive year. American Airlines carried more international passengers to and from the United States in 2011 than any other U.S. or foreign carrier, followed closely by Delta. Continue reading

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Chrysler, Ford and GM U.S. March Sales Continue Rebound

All of the Detroit Three continue to have weak spots as they face the resurgent Japanese and hard charging Korean automakers. However, all have critical car launches this year, which should keep the momentum going. One thing is becoming clearer as the year progresses – the offshore brands are coming back and the loyalty of their buyers remains as impressive as it remains a huge marketing challenge to the Detroit Three. Continue reading

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California Drivers Cut Gasoline Use. Tax Revenues Hurt

Because of the recession, increases in California’s sales taxes and more fuel efficient vehicles, among other variables, taxable gallons of gasoline used in California – at 14.7 billion gallons in 2011 – was at the lowest level in more than a decade, a declining trend that has been going on since 2005. Politicians with their insatiable need for more taxes are concerned, which means hang on to your wallet as they figure out how to make you pay more for using less gasoline. Continue reading

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AIG Repays Taxpayers $1.5 Billion, Still Owes $45 Billion

During the financial crisis, overall support for AIG through Treasury and the Federal Reserve Bank of New York totaled approximately $182 billion. The remaining $45 billion investment consists of Treasury’s investment ($35.7 billion) for which it holds 1.248 billion shares of AIG common stock a whopping 70% of outstanding common stock. Then there is the Federal Reserve Bank of New York, which lent $9 billion to AIG. Continue reading

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Colorado Volt Buyers Eligible for $13,500 in Taxpayer Subsidies

The core environmental problem here is an economic one. The slow selling $40,000 Volt – even with subsidies – remains overpriced and not competitive in the marketplace. No wonder that the Volt plant in Michigan is currently down for five weeks. More troubling is the sales of the smaller Prius c hybrid. In the first three days since the small Prius c went on sale this month it sold 1,201 units, bypassing sales of the much more expensive – two times the price – Chevrolet Volt and Nissan Leaf for the entire month of February. Continue reading

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