John Stossel
  • January 14, 2010 06:23 PM UTC by John Stossel

    A Little Company Praised by President Obama

    Thursday, on my FBN show, I talked about “crony capitalism.”  That is when Big Business uses the clout of Big Government to get special privileges or protect themselves from the raw competition of the free market.  My first example is the story of a little window manufacturer, Serious Materials:

    We asked the White House, the Department of Energy, and Serious Materials to provide someone to talk about this, but they all declined. A spokeswoman for Serious Materials said, “we don’t comment on the personal lives of our employees.”  Just this afternoon, she called to say that my story is “full of lies.”  But she wouldn’t say what those lies are.

    If you have any more information on this subject, please tell us about it.

    **Update: The "crony capitalism" episode re-airs tonight (Friday) at 10pm EST, Saturday at 7pm, and Sunday at 11pm.

female companions

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May 16, 2010 at 8:28 pm

Adora WASHINGTON

Really great post you have here. I'd like to read something more concerning such matter. Thnx for giving such information. Adora WASHINGTON rent to buy

April 28, 2010 at 12:14 pm

fenestration

disappointing...

January 21, 2010 at 4:53 pm

irloyal

The Serious materials group are a "Serious" bunch of greenwashers. They not only make some outrageous claims about their windows, but their "Green" wall coverings as well. They recently attempted to push through an ASTM standard by working closely with EPA representatives in a new and largely unknown group of the ASTM called "Sustainability". This standard received the largest amount of negative votes in ASTM History. Watch out for these guys.

January 21, 2010 at 12:49 pm

kevin

i love the chicago bashing you clone rush zombie will belive any thing the real story is the former owner of the plant commited crimes and defaulted on loans and tryed to move plant to iowa and loot the penision plan he is indicted serouis saved 350 jobs and treets there union employes great john is a pompus tird who is worth millions he only went to fox forthe cash if msnbc would have paid him he would be prasing oboma.

January 20, 2010 at 11:29 pm

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January 20, 2010 at 10:37 pm

Shelby

John, don't forget that Inc. magazine gave them a big puff piece. I wonder if Inc. magazine was tricked too or are they complicit?

January 20, 2010 at 7:20 pm

Vincent Cipriano

Mr. John Stossel First, I would like to say that I have been in the window industry for more than 20 years and I have no relations or ties to Serious Window Company. However, I resent the manner of how your statements slant any company that manufacture products made in the USA. The window and door industry throughout the USA use virtually 90 % plus US content and manufactured in the USA creating thousands of jobs. I would like to point out that a 548k tax credit is not free money and the Serious Window Company must spend their own money in order to satisfy the tax law requirement, again creating more jobs. The window and door industry has been decimated over the last few years and can use promotion so I challenge you cover both ends of the story and not creating an imbalanced position? So what if there is a relationship in the energy division and the window company. At least the company is trying to survive in a poor economy and creating jobs. Thank you Vincent Cipriano Michigan

January 20, 2010 at 11:51 am

Architect

I have been putting Harvey Industries windows in my spec for years. A local Northeast long term company dedicated to quality, green and energy efficiency. it is too bad other companies like Harvey were not mentioned as part of this stimulus.

January 19, 2010 at 2:43 pm

Les

i knew these guys had some ties to Washington. nothing they ever spoke about or had a hand in has had a positive conclussion. they seem to get money from the sky to allow them to stay in business.

January 19, 2010 at 12:17 pm

Buc

Yes, this happens all the time in Washington.. but is this the change I voted for.. the same-o.. same-0 I think not! Buc

January 19, 2010 at 11:52 am

rednorth

John , Thank you. Keep it up, expose the corruption. Would you please do a follow the money report on Michael Mann of Penn St and IPCC getting $500K from the Stimulus bill for his supposed climate research.

January 19, 2010 at 1:06 am

dave

It is not always a big conspiracy. Maybe John should do just a bit more investigating rather than his over-the-top and misleading editorializing. Check the reply below, which are apparently facts available even before the broadcast. I hate politicians lining their pockets too, and both parties do it, but sometimes they are just recognizing a success story. http://blog.seriousmaterials.com/?p=1007

January 18, 2010 at 3:53 pm

Dave H.

John, I think as you continue to do these stories it is important to make an effort not to show that both parties are guilty of the same transgressions. Not only is it an important message but it will make your show stand out from the pack. Being on Fox and with the Dems in so many powerful positions, you may have to work extra hard to show that the Republicans also don't really believe in capitalism. Perhaps a story about the marginalization of 3rd party candidates is worth an effort.

January 18, 2010 at 3:32 pm

Ken Roko

Serious Materials' response to this report on their blog. http://blog.seriousmaterials.com/?p=1007

January 18, 2010 at 3:15 pm

Lou

Having owned a independent window distributer for over 20 years, I have sold Andersen, Pella, Marvin and many others. Unfortunatly the piece did not explain what it is that Serious uses in it's product to get the low U-values and high R-values. Basically it is an old tecnology that resulted in law suits for the manufacture that utilized it.As mentioned the 3 largest window mfg.(actaully Jeld-Wen is the largest)None of these co. will touch that product with 10' pole! It's junk.

January 18, 2010 at 2:15 pm

Steve

Hey I love the blog. I've been looking for more information on Downtown San Diego Real Estate and I was wondering if you have any good tips or pointers? I'm getting ready to move and I need all the information I can get. Thanks!

January 18, 2010 at 11:04 am

William

Check their production status. Potentially all talk no action. They had not restarted production at the release of the INC article.

January 18, 2010 at 10:34 am

Donald Bryan

This is a story of how a New Economy predicated on innovation and efficiency [and a big fat load of Cronyism] is not only helping us today [to fool the gullible into thinking we're pro-small business], but in inspiring a better tomorrow [now that we've got all these employees here at this company in our pocket]. - Joe Biden, Corporatist Re-mix

January 18, 2010 at 1:06 am

Valerie Kreager

To state that Anderson or Pella "cannot make anything comparable" surely cannot be true. What experience does this company have, and what bids were sent out with specific criteria? The fact that this VP is married to the person in control of awarding these bids is suspect at best. The only way this could be considered even remotely ethical is if the bids were sent out and awarded fairly. I highly doubt that was the case. I would love to be proven wrong.

January 18, 2010 at 12:40 am

john

Greedy corporations we can work around. Greedy politicians, greedy for more power, are the real threat because we can't make more freedom.

January 18, 2010 at 12:39 am

In the business

A good thing to mention might be the fact that Pella Windows (not Serious) have won the J.D.Power Award for the last 3 years and that Pella Windows (not Serious)has been named by the EPA as Energy Star Partner of the Year for the last 3 years. Obamaa didn't know abour Serious until they biught the old Republic factory in-you guessed it- CHICAGO.

January 18, 2010 at 12:21 am

Dr. Ronald Johnson

I ordered R7 and R9 Serious Windows last year and had them installed. I replaced 15 year old Anderson dual pane windows. The Serious windows look beautiful and our heating bill went down almost 50% compared to the dual pane windows that had been there. There product really works. I did a lot of research before deciding and no other maker came close to this performance. If they opened plants and hired back workers and do make the highest performing windows, they should receive attention.

January 17, 2010 at 6:01 pm

OJ

Ordered SM's highest energy efficiency with several films nside the glass. They couldn't ship it because they couldn't manufacture it...Really expessive and there is no payback on the extra cost. Double pane glass with Argon gives 80%+ of the savings vs.single pane. The extra energy improvement of SM's window saves pennies. They are selling smoke and mirrors and they look to be in bed with Obama's whitehouse. Let's see if they are around to service their windows in 5 years

January 17, 2010 at 10:43 am

Anonymous

I know a little secret here in Minnesota. Annette Meeks and her Freedom Foundation took money from more than one major window manufacturer in the state to create this story. Everyone knew it wasn't true. That company has not taken any money from the feds and no one could find anything they did wrong, even though they tried. But certain competitors here didn't like the fact serious windows make really high performing windows, and thought this would hurt them. That is the real tragedy here.

January 16, 2010 at 7:19 pm

About this Web Site

  • John Stossel joined FOX Business and FOX News in October 2009. His show, Stossel, airs on the Fox Business Network on Thursdays at 9 PM and midnight ET. It re-runs Fridays at 10 p.m., Saturdays at 9 p.m. and 12 midnight, and Sundays at 10 p.m. (all times eastern).

    He is the New York Times best-selling author of Give Me A Break and Myths, Lies and Downright Stupidity. His "Give Me a Break" commentaries take a skeptical look at a wide array of issues, such as education, the economy, parenting, and more.

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