NEW YORK (TheStreet) -- Thanks to Herb Greenberg of CNBC for relaying a story (via The Atlantic) that showcases former General Motors (GM) Chairman Bob Lutz, the man who conceived the electric Chevy Volt, slamming conservatives.
Lutz, a conservative himself, blasted "the political extreme right" for "distorting the facts of the Volt." For example, he notes that it was the Bush administration, not the Obama administration that approved the $7,500 federal tax credit for electric vehicles. According to Lutz, they "trash an outstanding American product [the Volt] and do damage to American employment just to get at Obama."
I will not get into the merits of electric vehicles; others more than ably fill that role. Instead, I focus on Lutz's comments as they pertain to the stock market and its broader implications.
For the record, I am not sure if a direct connection exists between "trashing the Volt" and "damage to American employment." That said, Lutz's choice of words should not distract from the otherwise obvious and straightforward spirit of his argument.It's one thing to be bearish about a company. I'm bearish about GM as well as Ford (F). But it's another thing to allow that bear case to spin out of control. For example, political pettiness fuels a considerable chunk of the incessant Tesla Motors (TSLA) bearishness. Dear politically motivated Volt and Tesla bears: From personal experience, here's a nickel's worth of free advice: Get over yourself. There was a time when I hated America. I had moved to San Francisco, where I quickly transformed into what Fox News might label "extreme left wing." I've never had an issue with being liberal -- I still am, particularly on social issues -- but I do wish I had handled myself better politically in those days. Simply put, I allowed myself to fit into a neat little box: I live in San Francisco and I am liberal, therefore these are the things I think. That's how half of the population carries itself in San Francisco and Berkeley. Think freely, but just limit your thoughts and convictions to the stuff that fits a pre-conceived agenda. Lutz proves that you can step away from your party and ideology and do what you think is right. He deserves tremendous credit for this. As Lutz argued, the Chevy Volt, if it succeeds, is good for America. Can conservatives really say with a straight face that the proliferation of electric vehicles will irreparably damage the country? If they believe this, they're delusional.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV