Category Archives: Business

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That this has led to fraud is no surprise at all!

My good friend and occasional blog pinch-hitter, William Teach of The Pirate’s Cove, has an article this Friday morning on the Biden Administration prosecuting a major ‘carbon offset’ sales company for fraud:

C-Quest Capital LLC Chief Executive Officer Kenneth Newcombe, who stepped down as CEO in February, was indicted Wednesday in New York on wire fraud and commodities fraud charges. He faces up to 20 years in prison if convicted on the most serious charges.

C-Quest develops emission-reduction projects to earn carbon credits that can then be sold to companies or other entities that wish to offset their own emissions. Newcombe, a onetime Goldman Sachs Group Inc. managing director and World Bank official, founded C-Quest in 2008.

You can read the rest on Mr Teach’s fine site.

But this one speaks to me, due to my experience. It was 2003, and carbon offset salesmen came and made a presentation to the concrete company at which I worked. Ready-mixed concrete producers use pozzolans, materials which are not cementitious alone but when mixed with Portland cement during the production of concrete utilize the excess calcium hydroxide liberated to become cementitious. We use them because they are less expensive than cement. The two most frequently used are flyash, which is harvested from the ignition byproducts of burning coal in power plants, and ground granulated blast furnace slag, the material left over from the smelting of iron ore.

The manufacture of Portland cement is a major carbon dioxide (CO2) emitter, so by the partial substitution of flyash, ready-mix companies reduce their carbon footprint. The salesmen told us that we could gain carbon credits every time we used flyash instead of cement, and that we could sell those carbon credits to other companies, to make it look like they were doing something to help fight global warming climate change, but, since it wouldn’t have changed how we did business since we were already using flyash — other than requiring some bookkeeping — it wouldn’t have reduced CO2 emissions at all! It was simply a way to take money, taking it from one CO2 emitter and giving it to a company which emitted less CO2; virtue signaling for the first, without having to actually spend significantly more money to reduce their emissions, and extra money for us, for doing what was already in our own economic interest.

Is anyone really surprised that fraud would be involved? When it comes to global warming climate change, the scammers and fraudsters will always be buzzing around.

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Democrats talk a good game, but when they have had the power, their policies have not worked! 3½ years of President Biden have produced record homelessness

Philadelphia’s last Republican Mayor, Bernard Samuel, left office on January 7, 1952, when Harry Truman was still President of the United States, and George VI was still King of England. In the 21½ years since January 3, 2003, Republicans have been Governors of Pennsylvania for just four years, with Tom Corbett leaving office on January 20, 2015. And since January 20, 2009, a Republican has held the White House for only four years. So, if homelessness is rising in the City of Brotherly Love, it isn’t exactly the GOP’s fault.

Homelessness in Philadelphia increases for third consecutive year

The number of homeless Philadelphians exceeded 5,000 for the first time since 2020.

by Layla A. Jones | Monday, September 23, 2024 | 3:09 PM EDT

The number of homeless Philadelphians increased for the third consecutive year, according to the annual point-in-time homelessness count conducted by the Office of Homeless Services.

The count was conducted in January and includes unsheltered people and those living in emergency shelters, safe haven and transitional housing. In 2024, the total number of homeless people reached 5,191, up from 4,725 the previous year — a 10% increase.

Mandated by the federal Department of Housing and Urban Development, the annual point-in-time count is a snapshot of homelessness on one day in January.

Philadelphia’s count calls on volunteers, armed with clipboards, socks, and gloves, to spread across the city interviewing and cataloging people who are homeless.

How is it, if Democratic Party policies work, that homelessness is increasing in Philly? The Keystone State has had Democrats as Governors, and the city is a one-party, Democratic town. Mr Biden won Pennsylvania by 80,555 votes in 2020, 3,458,229 (50.01%) to 3,377674 (48.84%), but only because he carried Philadelphia 603,790 (81.44%) to 132,740 (17.90%), a margin of 471,050 votes. That’s how Democratic Philadelphia is![1]Without Philly, President Trump would have carried the Keystone State 3,244,935 (52.56%) to 2,854,439 (46.23%). Whatever the Democrats wanted to do in Philadelphia, they had the votes and the officeholders to do.

High – but declining – poverty, the opioid epidemic and a lack of affordable housing are to blame for the rising numbers of unsheltered people, according to a summary of the city’s winter count.

“Poverty remains a factor, irrespective of poverty trends/trajectories,” said Sherylle Linton Jones, spokesperson for the Office of Homeless Services.

More than 20% of homeless people had either been evicted or displaced for another reason in the preceding 90 days, showing how impactful an issue affordable housing is in Philadelphia.

If poverty is declining, why would homelessness increase?

The drug crisis is certainly a factor, as former Mayor Jim Kenney concentrated on hugely important things, like an additional tax on Big Gulps from Seven/Eleven, but, other than that, had pretty much checked out of doing his job, and the Kensington section of the city had become not just a local laughing stock, but a nationally and even internationally known drug wasteland.

Let’s tell the truth here: Democrats talk a good game, but when they have power, their policies have not worked!

Philadelphia’s rising homelessness comes after the office overspent its budget by almost $15 million, pressured by a mandate to keep people sheltered.

The Democrats tell you that they are going to do something, but even with having overspent their budgets, they don’t get the job done!

Philadelphia’s numbers are in lockstep with a nationwide trend of rising homelessness. In 2023, homelessness grew 12% to the highest level ever recorded. More than an estimated 650,000 people are homeless in the United States, the largest number since the country started tracking the annual point-in-time survey in 2007. The rising homelessness crisis led the conservative-leaning Supreme Court to rule that municipalities could ban sleeping in public places, effectively outlawing unsheltered homelessness.

It hasn’t been just Philly. Under President Joe Biden, and the Administration’s oh-so-sympathetic attitude, homelessness nationwide has still soared to record levels. Vice President Kamala Harris Emhoff has been telling us that she’s going to solve the problem by building 3,000,000 new, ‘affordable’ homes, but whatever her ideas to do that are, she never presented it or persuaded President Biden to do it. Once again, the Democrats are talking a big game, but they’ll fail miserably.

Mrs Emhoff is, as the Democrats always say they are, big on labor unions, but if her ‘plan’ includes pushing union labor on building those three million new homes, then she will have automatically made them more expensive, and less ‘affordable.’

Millions of people will vote Democratic this November, but those people will be voting for promises that cannot and will not be kept.

References

References
↑1 Without Philly, President Trump would have carried the Keystone State 3,244,935 (52.56%) to 2,854,439 (46.23%).
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Once again, the left want to restrict our choices It's all for our own good, right?

I have said it many times before: today’s left are pro-choice on exactly one thing, prenatal infanticide. In everything else, they want the government to take control of your lives. William Teach noted that the Biden Administration are trying to shut down existing coal-fired electricity generation plants through emissions regulations which would force them out of business. The Democrats tried to force every American to take an experimental and long-term untested ‘vaccine’ against COVID-19, punishing those who refused with loss of their jobs. They have put in regulations designed to ban the sales of new gasoline-or-diesel-powered trucks and automobiles by 2035, even as the Administration threaten to shut down the coal-fired generation plants, even though 16.2% of our electricity is produced from burning coal. I’m not quite sure how the math works out in trying to push plug-in electric vehicles and concomitantly reducing our electric generating capacity.

Not only do they want to force people into plug-in electric vehicles, the government also wants to regulate the choices we have in those vehicles:

As cars and trucks get bigger and taller, lawmakers look to protect pedestrians

by Joel Rose | Friday, August 23, 2024 | 5:00 AM EDT

RUCKERSVILLE, Va. — In a cavernous white room full of bright lights, video cameras and microphones, a driverless cart hurtles at 37 miles per hour into the side of a large SUV.

Researchers at the Insurance Institute for Highway Safety have crash-tested thousands of cars and trucks like this one over the past three decades at their facility in central Virginia.

But a few years ago, they noticed that those vehicles were getting bigger and heavier. So they decided to make the cart that crashes into them larger, too.

“It was meant to represent a small pickup or a midsize SUV, and those vehicles have gotten heavier and heavier over time,” says Becky Mueller, a senior research engineer at IIHS. “So it’s 500 kilograms more weight because that’s what the vehicle fleet now reflects.”

Americans’ cars and trucks are getting bigger and taller, while roadway fatalities have also climbed sharply over the past decade.

Why have cars and trucks gotten bigger and taller? Because those are the vehicles that the car-buying public have chosen to buy. American automobile manufacturers have moved to produce the vehicles that their customers want to buy. Article continues below the fold, because it contains an embedded video. Continue reading →

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Karma comes to Taylor Lorenz!

Our regular readers, both of them, will remember Taylor Lorenz, a columnist at The Washington Post covering technology and online culture. Miss Lorenz most significant claim to fame was her investigation and doxing of Chaya Raichik, the owner of the Twitter site Libs of TikTok. The left hated LoTT, because Miss Raichik’s schtick was to find the idiocy that the left were posting to TikTok — and there was a lot of it — and expose it far more widely, to the ridicule of the libs. At the time, Miss Raichik was working as a real estate agent, and the exposure was designed to cost Miss Raichik her job.

In the end, it simply made Miss Raichik more popular and wealthy, but it also made Miss Lorenz more of a public figure as well, invited to some of the hoitiest and toitiest of Hollywood soirees.

Of course, despite her insistence that everybody wear face masks to prevent the spread of COVID-19 — though she subsequently deleted it, she informed readers that she was at least somewhat immunocompromised — as late as August of 2023, she didn’t wear one herself.

Well, in a true sauce for the goose moment, it seems that Miss Lorenz has been outed for something. From NPR, not exactly an evil reich-wing site:

‘Washington Post’ reviews star columnist Taylor Lorenz’s ‘war criminal’ jab at Biden

by David Folkenflik | Thursday, August 15, 2024 | 7:55 PM EDT

Senior editors at the Washington Post are reviewing a prominent tech columnist’s private story on social media, which appears to label President Biden a “war criminal” in a photo.

The Post’s Taylor Lorenz attended a White House event for digital influencers on Wednesday. In the photo she shared with a circle of friends on Instagram, Biden appears over her shoulder; the damning caption rests just below him, accompanied by a text frowny face.

After the New York Post’s Jon Levine — a frequent critic of hers — revealed the Instagram photo caption yesterday in a tweet, Lorenz wrote back at him: “You people will fall for any dumbass edit someone makes.”

I am thoroughly amused.

A fact-check appended to Levine’s tweet cited her apparent denial. (The contextual note to the tweet says, “Taylor Lorenz says this is a digital manipulation which has added a false caption.”) Lorenz told her editors that someone else had added the caption to the photo.

NPR has obtained a screengrab of Lorenz’s actual post, which contained that caption. It was not shared with her wider Instagram audience of 143,000 followers.

Four people with direct knowledge of the private Instagram story confirmed its authenticity to NPR. They spoke to NPR on condition they not be identified due to the professional sensitivity of the situation for Lorenz.

“Our executive editor and senior editors take alleged violations of our standards seriously,” a spokesperson for the newspaper told NPR. “We’re aware of the alleged post and are looking into it.” Lorenz declined to comment.

The Post has already been cutting staff, due to the newspaper losing a lot of money. If Miss Lorenz loses her job over this — something which is certainly not guaranteed — would it not be a delicious bit of karma for trying to cost Miss Raichik her real estate position?

Lorenz has since told associates that a close friend took her posted picture and superimposed the caption upon it, as a joke, and that she shared it with the group on the private Instagram posting.

If that is true, then yes, Miss Lorenz has admitted posting it on Instagram. Perhaps she thought it was a joke, but as a social media savvy reporter, she should have realized just what a stink this would cause, as well as understanding that once something goes out into the internet, it can be seen by the wrong people, and used against her. Using utter stupidity as an excuse isn’t a good look.

Perhaps Miss Lorenz is now learning about sauce for the goose!

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Ivy League research associate wants clerks at Wawa to pay for her commute

Talia Borofsky, from her Twitter profile.

Cry me a river! Talia Borofsky is “a postdoctoral research associate in Princeton’s High Meadows Environmental institute, where she researches the evolution and ecology of cooperative hunting.” Dr Borofsky lives in foul, fetid, fuming, foggy, filthy Philadelphia but commutes to work at Princeton University, and she greatly saddened by the fact that cashiers at WalMart and hamburger flippers at McDonald’s won’t be paying as much for her daily commute!

Amtrak’s sudden fare increases bite the hand that feeds it

Amtrak recently raised multi-ride fares along the Northeast Corridor without adequate prior warning to its ridership. The drastic increase is a slap in the face to taxpayers, writes Talia Borofsky.

by Talia Borofsky | Thursday, August 15, 2024 | 12:00 PM EDT

In July Amtrak raised multi-ride fares along the Northeast Corridor by anywhere from 32% to 70% without directly notifying its ridership in advance.

Amtrak, a federally funded and federally majority-owned company, is meant to serve the public. The drastic fare increase is a slap in the face to taxpayers after the infrastructure bill dedicated a total of $22 billion in direct grants to the company.

You might think from Dr Borofsky’s first two paragraphs that her complaint is that she wasn’t notified far enough and directly enough in advance, but that’s not it. What upsets her is that she’s having to pay more for a direct service she receives.

Investopedia notes:

Amtrak receives considerable subsidies from both state and federal governments but it’s managed as a for-profit company. This isn’t unusual. No country in the world operates a passenger rail system without public support.

But Amtrak’s “for-profit” status is sadly ironic. The train company has never been profitable since its founding nearly fifty years ago. It’s only thanks to its subsidies that the company has survived.

In other words, Dr Borofsky’s daily commute has never been entirely paid for by her fares. It has always been subsidized by taxpayer dollars, many of which are taken from people who earn less money than she does. But hey, if you’re a daycare worker in Philly, or a laborer for a roofing company in Lexington, shouldn’t you be glad to know that some of the money you pay in taxes goes to pay for “a postdoctoral research associate” at an Ivy League university, who earned her doctorate at Stanford, the hoitiest and the toitiest of the colleges west of the Mississippi, to research “the evolution and ecology of cooperative hunting”?

As a postdoc at Princeton University, I commute from Philly to Princeton using Amtrak. This commute used to make financial sense; rents in Philadelphia are almost half the price of those in Princeton, and Princeton provided a helpful although limited commute subsidy.

However, the commute became unaffordable for me and likely many others on July 1; the 10-trip (one-way) ticket package between Princeton and Philly shot up from $230 to $390, and the monthly pass increased from $576 to $975. These sudden increases have impacted many postdocs and graduate students at Princeton, whose budgets were already strained by the previous fares.

There’s such a whiff of elitism from Dr Borofsky’s OpEd. As a “postdoctoral research associate” at an Ivy League university, she is paid much more than most Philadelphians. According to Glass Door:

The estimated total pay range for a Postdoctoral Fellow at Princeton University is $57K–$67K per year, which includes base salary and additional pay. The average Postdoctoral Fellow base salary at Princeton University is $62K per year.

The minimum of $57,000 is slightly higher than the median household income of $56,517 for Philadelphians overall. But Dr Borofsky apparently believes that the baggers at Giant Food Mart or the clerk at Wawa brewing her large coffee for the train ride — yeah, I’m guessing about that last, but everyone in Philly should drink Wawa coffee! — should have to contribute a bit more to pay for her train ride.

Dr Borofsky continued to tell readers about Amtrak’s poor service, and that the suddenness of the fare increase was “exploitative.” I have no qualms with her point that the increase was sudden, nor that Amtrak’s service isn’t the greatest.

But it’s her concluding one-sentence paragraph that gets me:

Train travel should be viable for all, not just the wealthy.

No, train travel should be available to those who pay for the service. Why should I, a retiree, be required to pony up some of my tax dollars so that Dr Borofsky doesn’t have to pay for the service she receives? Why should the janitors at Princeton be required to help fund her commute?

The subtitle of her article states, “The drastic increase is a slap in the face to taxpayers,” but no; the drastic increase is a boon to the taxpayers, the ones who are already subsidizing her train ride. The good research associate should pay for the services she receives herself.

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The left are pro-choice on exactly one thing

Journalist James Ochoa of The Street has said that Ford is sending “mixed signals” about its “commitment” to plug in electric vehicles, but he’s got that wrong. Reality is that car buyers have sent signals that the left do not like concerning the silly things!


Ford execs send mixed signals about EV commitment

The Dearborn-based automaker’s moves are a grim reflection of the EV market

James Ochoa | Sunday, July 21, 2024 | 5:09 PM EDT

Despite CEO Jim Farley’s enthusiasm about electric vehicles, navigating the avenues of the EV marketplace has been a rocky road at best for Ford (F).

In its earnings report released in April, the Blue Oval reported that its electric car division, Model e, lost $1.3 billion in the first quarter of 2024. Meanwhile, the automaker’s commercial and fleet vehicle division, Ford Pro, made $7,300 per vehicle on the nearly 400,000 vehicles it sold.

Meanwhile, the electric Model e division lost $130,000 on each of the nearly 10,000 EVs it moved in the same period.

Think about that: Ford was losing twice the cost of its most expensive electric vehicle, the F-150 lightning, on each unit sold.

During the company’s earnings call, Farley expressed that much work had to be done to make its EVs positively impact the company’s bottom line.

“We’re being very consistent about our discipline on profitability,” Farley said. “We expect every one of our EVs to make money in the first 12 months, and that is a very disciplined process.”

But here comes the kicker:

Part of Ford’s “disciplined process” is outsizing the need to build more profitable vehicles. Unfortunately for the environment, those vehicles aren’t electric vehicles but rather massive, fuel-burning, heavy-duty pickup trucks.

In a recent announcement, Blue Oval said it’s investing $3 billion to boost the output of the Super Duty, the bigger, bulkier sibling of the popular F-150 pickup trucks. These trucks, equipped with up to a 7.3-liter V8 engine, are popular with tradespeople and laymen who want extra power for towing larger objects like boats.

The article continues to tell readers about the investments the company is making to produce more of the Super Duty, which is a version of the F-250 or F-350, not the F-150 — because Ford is having trouble keeping up with the demand for the trucks. And here’s the money line:

While Ford’s Model e division loses $130,000 on each EV, Ford makes an estimated $20,000 in profit on every Super Duty.

Translation: in a market in which the federal government is providing tax credits and incentives to buy plug-in electric vehicles, Ford still cannot sell enough of them to come close to breaking even, while the company not only makes money on its larger trucks, but is just barely, if that, keeping up with the demand. While there are obviously some people who want EVs, the majority of the new vehicle buying market simply don’t want them.

But, of course, the federal government, and some state governments, want to force-feed the American people on things they do not really want. President Biden put in place a mandate that all new vehicles sold in the United States must be zero-emission by 2035, but his term ends in January. The expected Democratic nominee, Vice President Kamala Emhoff[1]Just because she does not respect her husband enough to have taken his name, I will not show him similar disrespect. launched her own presidential campaign in 2019, and her stated positions were even more stringent than Mr Biden’s:

  • A bold target to exceed the Paris Agreement climate goals and achieve a clean economy by 2045;
  • Investing $10 trillion in public and private funding to meet the initial 10-year mobilization necessary to stave off the worst climate impacts;
  • Modernize our transportation, energy, and water infrastructure;
  • Accelerate the spread of electric vehicles, solar panels, and wind turbines;
  • Make big investments in battery storage, climate-smart agriculture, advanced manufacturing, and the innovative technologies that will build our carbon-free future;
  • By 2030, we will run on 100 percent carbon-neutral electricity, all new buses, heavy-duty vehicles, and vehicle fleets will be zero-emission;

As we have previously reported, the Southeastern Pennsylvania Transportation Agency (SEPTA) bought 25 battery-electric buses from California manufacturer Proterra in 2016, but all have been parked since 2020 because they were pieces of feces had problems. In November of 2022, one of the mothballed Proterra buses spontaneously caught fire, which a SEPTA spokeswoman confirmed was traced to lithium ion battery units inside the bus.

  • All new buildings will be carbon-neutral; and
  • Transition our public lands from producing the fossil fuels that represent 24 percent of national emissions to carbon sinks.

In 2023, the United States was the world’s largest crude oil producer, as it had been for the previous five years, and has the world’s greatest proven recoverable oil reserves. In 2023, the US was by far the world’s largest natural gas producer, at 1,035,000,000,000 cubic feet, 76.4% more than #2 Russia’s 586.4 billion ft³, and over four times as much as third place Iran.

The propane fireplace that is our secondary heat source.

Mrs Emhoff would curtail our oil and natural gas production where she could, raising prices for consumers, and sending more of Americans’ hard-earned dollars to foreign countries to buy oil and natural gas, and, of course, cut the number of jobs in oil and natural gas production in the US.

That is all pie-in-the-sky, and four years of economic reality ought to temper her proposals, but it tells us that Mrs Emhoff doesn’t care about what the American people actually want, as measured by our own economic choices. We vote every couple of years for political candidates, but we vote every single day of our lives with our economic choices. Those people buying gasoline-powered vehicles are voting against the Democrats’ plans to require zero-emission cars and trucks, at least for themselves. Those people buying or remodeling with natural gas furnaces and ranges are voting against the liberals’ stated policies.

The United States has been blessed with tremendous natural resources, including huge oil and natural gas resources. The US also has the world’s largest coal reserves, 250.3 billion tons, 56.1% more than second place Russia’s 160.3 billion tons. Mrs Emhoff and the Democrats would squander that great natural wealth by leaving it untapped, costing the American people wealth and jobs, and sending more of our remaining wealth overseas to buy things we currently produce ourselves.

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↑1 Just because she does not respect her husband enough to have taken his name, I will not show him similar disrespect.
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Philly advocates for prostitutes want the johns arrested, but not the hookers

It has always struck me as odd that something which is completely legal to do for free can be illegal to do for money, but such is prostitution and the buying of sex. But an OpEd in Tuesday’s Philadelphia Inquirer raised a point that I suspect the authors didn’t realize:

Want to eradicate the sex trade in Kensington, Mayor Parker? Arrest the people buying sex.

Traffickers and sex buyers perpetuate sexual exploitation and keep the commercial sex trade alive. Philadelphia police should arrest them instead of those who are already exploited. 

by Shea Rhodes, Mary DeFusco, and Ann Marie Jones | Tuesday, June 18, 2024 | 5:00 AM EDT

As experts in sexual exploitation, sex trafficking, and systems of prostitution, we disagree with Mayor Cherelle L. Parker’s recent decision to empower the Philadelphia police to make arrests for prostitution in Kensington.

People in prostitution should not be arrested or charged with prostitution offenses. The practice of prosecuting people in prostitution perpetuates a harmful ideology that they are criminals, rather than people who are being exploited.

Traffickers and sex buyers perpetuate sexual exploitation and keep the commercial sex trade alive. Police should arrest them instead.

Parker’s decision will also create additional barriers for victims attempting to exit “the life” of sexual exploitation. Criminal convictions serve as an additional hurdle for survivors to seek meaningful employment, housing opportunities, immigration opportunities, federal student loans, and more.

Continue reading →

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Once again, the hoitiest and the toitiest rally in favor of #Hamas So, what happens to the Stanford grads when it comes to their employment prospects?

Stanford University, 2024-25 tuition only: $21,709 per quarter, a private university in the Pyrite State, has a joyous image of commencement featuring a pretty, blonde girl openly smiling and cheering and clapping her hands in the California sunshine headlining the university’s website main page, or at least they do on Monday, June 17th, at 7:42 AM EDT. Stanford, one of the truly prestigious universities in the United States, sort of an Ivy League of the West school, attracts students from around the world, applying in a highly selective environment.

One would think that, as savvy and smart as those students are, they’d occasionally check the news, and ought to have seen stories noting that corporations which recruit top students are wary of hiring those who’ve been taking part in the pro-‘Palestinian,’ pro-Hamas demonstrations which have taken place. Continue reading →

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Jonathan Zimmerman, get your head out of the clouds! Well heeled Ivy League professor wants Ivy League students to forget high paying "sellout jobs", go into social justice fields, and then whine on TikTok about how underpaid they are

We have previously noted University of Pennsylvania professor of education and history and Philadelphia Inquirer columnist Jonathan Zimmerman on several occasions. Dr Zimmerman has been very supportive of the freedom of speech, but he’s just managed to miss the point in his latest writing.

The biggest problem at Penn is matching what we say about student careers with what we do

Half of our undergraduates enter the fields of consulting or finance. Penn talks the talk of public service, then teaches young people to line their pockets.

Continue reading →