President Obama loves Cree. Just who is Cree you ask?
Cree embodies Obama-era capitalism: profiting from government grants, political connections, revolving-door lobbyists and regulations that force people to buy your product.
Cree deals mostly in light-emitting diode technology. The company makes LED light bulbs and sells LED components to other manufacturers to put in their own bulbs, automobiles or electronics. This is by far the fastest-growing part of Cree’s business.
And frankly Cree has been very successful…..in fact they were a major supporter (pusher) of the Energy Independence and Security Act of 2007 — which bans incandescent light bulbs after 2012 (and by the way I am stockpiling) But Cree is wary that the political environment may be changing and have told the Securities and Exchange Commission this chilling statement….one of the risks the company faces is the risk that consumer choice might be restored. (Seriously — that gives me chills)
So besides depriving SD of it’s freedom of choice in light bulbs….what else does Cree have to do with you…..well….
As with any company that plays in the world of subsidy-seeking and regulation-for-profit, Cree retains a former congressman as a lobbyist. Democrat Max Sandlin of Texas is Cree’s leading outside lobbyist. Sandlin’s wife, Stephanie Herseth Sandlin, was a congresswoman until she lost re-election last November.
So I guess part of the changing political climate may be the lack of pillow talk with a member of Congress. Now the light bulb clicks on….
Read more at the Washington Examiner