After years of media hype and presidential accolades, Chevrolet has rolled out its new electric car, the Volt, to one of the coolest receptions since Ford began production of the Edsel; in fact, the only way that sales figures for Chevy’s new electric car can appear positive is by comparing them to the even more abysmal sales experienced by the Nissan Leaf.
Item: In his State of the Union Address, reported the Washington Post for January 26, President Obama “for the first time” did not “hail a newly passed ‘recovery act’ or call for a ‘new jobs bill.’ Instead, he called for a five-year freeze in domestic spending, except for ‘investments’ in education, infrastructure and research.”
During his 1992 presidential campaign, Texan Ross Perot was maligned for his warning that the North American Free Trade Agreement (NAFTA) would cause many American jobs to be outsourced. But it turns out he was right about that “giant sucking sound.” NAFTA went into effect January 1, 1994, and the resultant suction of American jobs to points south — and ultimately west — has seemed almost audible.
In a clear case of having more dollars than sense, America Online (AOL) is undertaking its least palatable acquisition to date: Arianna Huffington’s amalgam of left-wing screeds, The Huffington Post. Ironically, what some might view as a website with a less than favorable view of capitalism went for a king’s ransom of $315 million.