Posted on 10/20/2011 6:17:38 PM PDT by kcvl
Wirh approval from the Obama adminstration
$529 million
(Excerpt) Read more at abcnews.go.com ...
So, does this count for US jobs saved or created?
Of course...
We have more than enough evidence that the government loan program is mismanaged, counterproductive and outright corrupt.
WHY is there not already a moratorium on new loans until the issues surrounding Solyndra and similar are investigated and addressed?
Every loan seems to be a half-a-billion here and a half-a-billion there. WHY hasn’t the GOP worked to stop this now?
Now I know why the Google CEO was spinning so hard for Obama last week on TV.
The people in this administration are showing all the characteristics of the French nobility before the Revolution, exhibiting lavish lifestyles and providing images of wild extravagance as the people were starving. While Americans see their standard of living decline sharply the Obamas throw lavish parties, take luxurious vacations and underwrite luxury toys for the rich while running up deficits that were unimaginable just three years ago. It’s as if taxpayers were French peasants, our money was Monopoly money and they represent a natural aristocracy. It’s pitchfork time!
“We’re not in the business of failing; we’re in the business of winning. So we make the right decision for the business,” Fisker said. “That’s why we went to Finland.”
Umm...Did he just call the U.S. a failure and a loser? It sure sounded like he did. (after accepting the loan, of course)
This guy Henrik Fiskar already sounds Finnish or German. (Come to think of it Fiskar is the name of a huge company in Europe that sells a lot of sheers and scissors, for example.)
Just wondering if maybe he had a inkling BEFORE he took the U.S. loan that, oops, there would be no U.S. manufacturer for his product and he’d have to take the production home — I mean, to Finland.
How do you take a half-billion dollar loan to produce a car and then realize a short time (designwise) that you haven’t figured out who can manufacture your product.
So, if Algore is involved, it automatically becomes a “risk-y scheeeeme”.
Oh, and I see that former VP Al Gore is a major investor in Fiskar Automotive.
How convenient.
Okay, I finished reading the article (was commenting as I went along).
We MUST start pushing for a MORATORIUM on these loans NOW.
Ricardo Reyes, Tesla’s vice president of communications, called us this morning to clarify that the company is considering another loan, and been working through the pre-application process. But Tesla hasn’t made a decision on it or submitted a formal application to the US Department of Energy, which administers the loan program.
“Tesla has no completed loan applications pending before the DOE,” he said.
The program that has awarded loans to Tesla, Fisker Automotive and a handful of other car companies is separate from the one that gave $528 million to Fremont’s Solyndra, which declared bankruptcy earlier this month.
http://blog.sfgate.com/energy/2011/09/28/tesla-fed-loan-update/
Good catch!
But sad.
LOL!!! Just like the ‘Hoopties for Hybrids’ (Cash for Clunkers) fiasco! (That was a Van Jones brain fart, BTW.)
http://bigthink.com/ideas/12968
Regardless.
A pox on all of them and a moratorium on all these types of loans, regardless of which “program” they are under.
Donors, Bundlers, and Obama Allies Secure $1 Billion in Loans, Export Jobs to Finland
Stimulus Working as Intended
Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland.
Yet an audit this year by the Government Accountability Office, the investigative arm of Congress, criticized the Energy Department for not keeping close enough tabs on its fleet of auto loans — including those to Fisker and Tesla — to ensure they meet benchmarks. The funding was issued under the $25 billion Advanced Technology Vehicles Manufacturing loan program, one piece of a giant umbrella of DOE loans and loan guarantees going out the door.
“DOE cannot be assured that the projects are on track to deliver the vehicles as agreed,” said the GAO report examining the department’s ATVM program. “It also means that U.S. taxpayers do not know whether they are getting what they paid for through the loans.” [emphasis mine]
The Fisker website says its vehicle will be an “electric luxury vehicle.”
So this thing is for rich people, anyway! Way to go, President Obama! Tell OWS your taxpayer-funding an electric vehicle for it’s a luxury car for fat cats! WOOT!
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