From Sarah Palin, 16 minutes ago.
Tesla Motors, copied from another reprised thread from 2009
Tesla gets long-awaited government loan
San Francisco Business Times ^ | June 23, 2009 | Lindsay Riddell
Posted on Wednesday, September 14, 2011 11:08:22 PM by artichokegrower
Tesla Motors, makers of the first electric car that can travel more than 200 miles between charges, got its $465 million loan guarantee from the government Tuesday. Tesla has been banking on the guarantee for more than two years. The guarantee essentially insures the San Carlos-based company can borrow the money from financial partners to build a factory to produce for Tesla’s next-generation sedan, the Model S. The sedan will sell for around $45,000, that’s with a $7,500 tax credit from the government, and is about half the price of its first production vehicle, the high-end Tesla Roadster.
Tesla had struggled to raise money this year as banks essentially stopped lending amid the credit crisis and recession. Tesla Chairman Elon Musk essentially bankrolled the company with his own money through the beginning of the year. Tesla then signed a deal with Daimler AG, which took a 10 percent stake in the company in May. The Department of Energy had indicated that strategic partnerships with credit-worthy companies would be a major advantage as it evaluated to which companies it would award loan guarantees.
Whoo boy. Sarah Palin could clean house in Washington, DC. And the house in DC needs some cleaning.
Palin proved that she is willing to take on crony capitalists when she went after the oil companies in Alaska. That took some real courage. It’s not a new subject for her.