Business

Kyrsten Sinema: Wall St.’s Guardian Angel

“Until the average American realizes that capitalism damages her livelihood while augmenting the livelihoods of the wealthy, the Almighty Dollar will continue to rule.”

Does this sentiment seem consistent with a Democratic Senator who singlehandedly protected super wealthy private equity partners and investment money managers from losing a tax loophole that saves them tens of millions of dollars in taxes?

Allow me to introduce you to Arizona’s Kyrsten Sinema, easily among the most enigmatic persons ever elected to Congress, and the Senator of choice for more than 50 billionaires, only one of whom lives in the Grand Canyon State.

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Gavin Newsom’s White Male Privilege

Joke’s on you if you think the Green New Deal is solely about saving the environment. It’s increasingly about putting more green in the hands of the 1 percent at the expense of the middle and working class.

Gavin Newsom, California’s multimillionaire governor, is doing his part to protect the super-rich from getting hit with a tax that would fund his ambitious environmental goals. Here’s some insight on the guy who thinks he’d make a great president.

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Congress’ Make the Rich Richer Bill

The proposed Inflation Reduction Act concocted by Senate Democrats is shameful public policy that incentivizes GM and Ford to continue building in Mexico their highly profitable luxury electric vehicles most Americans can’t afford. The bill also disfavors GM and Ford competitors who build better and more reliable EVs.

Adding insult to injury, the proposed bill allows private equity billionaires to maintain an obscene tax break that even Bill Ackman has publicly called “a stain on the tax code.”

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How to Mercilessly Punish U.S. Airlines

Americans were once famed for a “rugged individualism” so fierce it sparked a revolution. The defiant spirit has diminished over the centuries, but hopefully there are still Americans with some fight in them.

In the tradition of the Massachusetts colonists responsible for the “Boston Tea Party” protesting taxation tyranny, here’s how to oppose the tyranny of the U.S. airline cartel and make Delta, United, and American feel some real financial pain while lining your pockets with extra cash.

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Mary Barra’s GM Taxpayer Scam

GM’s appetite feeding at the public trough has no limits. The company, already the second most heavily subsidized corporation in America, is getting a low-cost $2.5 billion loan from the Department of Energy to build battery cell plants with a joint venture partner. In my mind the loan is wasteful and risky as I’m doubtful GM can survive if electric vehicles are the future.

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Amazon’s Toxic One Medical Acquisition

Amazon’s acquisition of One Medical primary care clinics this week marked another dark moment in the ongoing decline of U.S. healthcare. Consumers who are fed up with the dismal state of U.S. airlines would be wise to heed this warning.

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Ford’s Farley Played Biden for Fool

In his March State of the Union address and again last month, President Biden was celebrating Ford’s commitment to invest in America and expand its workforce here.

Bloomberg reported today that Ford is looking to cut as much as 26 percent of its salaried workforce in the U.S. Meanwhile, the company has significantly expanded its engineering and other critical operations in Mexico and India.

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Ford’s Future May Rest on Its Lawyers

It’s a wonder how Ford keeps track of all its recalls and lawsuits, which are sprouting like dandelions. Three lawsuits with damning allegations about Ford vehicles were reported last week, and the company was forced to recall more than 100,000 vehicles because of engine fire incidents. Ford has pioneered what literally could become a killer category: Vehicle Flambe.

Little wonder that Steven Croley, Ford’s impressively credentialed chief legal counsel, reports directly to CEO Jim Farley and an influential board member.

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Elon Musk: His Word Isn’t His Bond

A man’s word was once his bond. In walking away from his previously unconditional commitment to acquire Twitter, Elon Musk has demonstrated that character in business no longer matters.

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