Green Options » Bloomberg

Auto Bailout: The Government Puts GM Through A Stress Test Too

Reenita Malhotra — Wed, 18 Feb 2009 00:59:03 +0000

GM will get its $4 billion loan payment from the government today but the company is nowhere near being off the hook.

Bloomberg reports that GM must also present a progress plan to the U.S. Treasury tomorrow that shows progress in cutting labor, debt and other expenses to prove the automaker can restructure to become viable and repay the loans by the end of 2011. If GM doesn’t show progress, the loan terms allow the government to recall the money or force the automaker into a government-supported bankruptcy.

Now that sounds like a much more reasonable stress test to me than the bank bailout plan. Fair’s fair. If you can’t survive then it’s reasonable to file for bankruptcy. But effective nationalization…well that’s neither here nor there!

Image credit: Bloomberg

Los Angeles, New York City to Get 500 MINI Es

Jerry James Stone — Wed, 21 Jan 2009 15:53:23 +0000

New York City Mayor Michael Bloomberg has announced that BMW is giving the city a fleet of MINI Es as part of a feasibility test. In fact, BMW will be testing 500 electric MINIs worldwide. Other cities included in the program are Los Angeles, London and Berlin.

>> Read the rest of this article on Gas 2.0

Los Angeles, New York City to Get 500 MINI Es

Jerry James Stone — Sun, 18 Jan 2009 17:08:49 +0000

MINI E is the first product from BMW’s Project i program. Project i takes aim at vehicle and transportation strategies for the world’s mega-cities. The cars will be loaned to both customers and the cities for a full year.

New York City: Wind Energy Powerhouse?

Ariel Schwartz — Wed, 20 Aug 2008 21:13:58 +0000

New York City is famous for many things, but wind power generation is not one of them—yet. New York City Mayor Michael Bloomberg spoke yesterday at the National Clean Energy Summit in Las Vegas about his renewable energy policy proposal for the city.

Bloomberg expressed interest in off-shore wind farms, small-scale wind installations, and and tidal power systems, noting that some estimates predict that wind energy could supply 10 percent of the city’s energy needs within 10 years.

Of course, there are barriers to Bloomberg’s proposal. Many people complain about the unattractiveness of wind turbines, and these complaints certainly can’t be ignored in such a densely populated city. And at least one study claims that urban rooftop windmills are actually net carbon emitters.

Congestion Pricing Plan in Trouble

Amy Stodghill — Sat, 08 Mar 2008 17:34:20 +0000

New York City’s proposed congestion pricing plan may be in trouble.

As part of NYC Mayor Michael Bloomberg’s long term sustainability plan, PLANYC 2030, congestion pricing is intended to reduce the amount of cars coming into the city, thus reducing the amount of auto emissions contributing to air pollution. While many city council members like the idea of cleaner air, some are questioning the details of the plan.