Boeing gets tailwind from subsidy bank

Think Big Business fears Big Government? My column should help dismiss that notion:

A government agency that finances U.S. exports directed 90 of its loan guarantees last year to subsidize one company: Boeing.

Before President Obama unfurls his export-promotion plan at the Export-Import Bank's annual conference this Thursday, he should review the agency's recent annual report, which documents an unparalleled case of corporate welfare -- a government program dedicated almost entirely to serving one well-connected company.

Of the $9.3 billion in loan guarantees Ex-Im issued in fiscal 2009, $8.4 billion subsidized Boeing sales....

Candidate Obama assailed government policy that enriched the wealthiest in the hope that "somehow prosperity will trickle down." But this is this mission of Ex-Im -- subsidize Boeing's profits in an effort to create jobs.

Village with 292 population hires a Washington lobbyist

[Originally posted at Beltway Confidential.]

Bald Head Island in North Carolina is accessible only by ferry, and no cars are allowed on the island -- people drive golf carts. Weekend at Bernie's was mostly filmed there. The Census Bureau says that the Village of Bald Head has a population of 292.

That means Bald Head might be the smallest municipality to hire a federal lobbyist.

The K Street firm Akerman Senterfitt registered Monday as the lobbyist for the Village. Thomas Donnelly Jr. and Richard Spees Jr. will represent these 292 folks (and presumably plenty of summer vacationers) on "Maintenance of beach and shipping channel sand affected by erosion," as well as endangered species issues, according to the lobbying registration.

The revolving door spins out a new John Warner

Former Sen. John Warner is lobbying on behalf of foreign and U.S. companies to loosen national-security export controls he once backed. My column tells the story:

"When hard decisions must be made, national security must always be the paramount consideration," Sen. Warner said in 2001. He assailed the companies that were lobbying for looser export controls at the time: "I am afraid there are those, including people in the corporate boardrooms across this country, who sometimes are not mindful about what serves as the foundation of our economic strength and their ability to project beyond our shores."

But now Warner's priorities have shifted. "I remember the Strom Thurmond Act -- that's fine," he told me. "I stand by whatever I said. I don't remember what I said, but I'll be delighted to read it in your column tomorrow. But I know this is an industry that needs help, and I'm privileged to be in a position to try and help them."

Tire tariffs show another cost of cap and trade: Free trade

Obama's tire tariffs, I argue in my column today, show how cap-and-trade is the enemy of free trade:

And cap and trade makes a trade war a political necessity, because the policy otherwise will ship U.S. jobs overseas. A trade war may cost jobs, but in a way less traceable to specific policies. In this way -- when U.S. politicians claim China is subsidizing its exports by not taxing emissions -- carbon caps could become a net short-term winner for manufacturing companies.

Cap-and-trade legislation may not stop the oceans' rise, as Obama has suggested. On the contrary, it may cause a rising tide of prices that lifts the fortunes of the well-connected companies, leaving American taxpayers and consumers drowning.

How GE's green lobbying is killing U.S. factory jobs

I traveled to a GE factory in Winchester, Virginia, to write my column on GE's green lobbying:

WINCHESTER, VA--“Government did us in,” says Dwayne Madigan, whose job will terminate when General Electric closes its factory next July.

Madigan makes a product that will soon be illegal to sell in the U.S. - a regular incandescent bulb. Two years ago, his employer, GE, lobbied in favor of the law that will outlaw the bulbs.

Madigan’s colleagues, waiting for their evening shift to begin, all know that GE is replacing the incandescents for now with compact fluorescents bulbs, which GE manufactures in China.

The corporate myth of free trade

"Free trade" the a top exporters' lobbyist recently told me, "is a theoretical construct. What we’re talking about is practical business transactions.”

My Examiner column argues that "free trade," especially in this age of bailouts, often means "whatever is best for business."

Last November, weeks after bailing out Wall Street and while pushing a $34 billion bailout for U.S. automakers, President George W. Bush, signed an agreement with other world leaders proclaiming, “we underscore the critical importance of rejecting protectionism and not turning inward in times of financial uncertainty.”

Read the whole thing here.