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Thread: Second Obama Green Venture in Weeks Folds after Getting Millions

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    Second Obama Green Venture in Weeks Folds after Getting Millions

    Another one of President Obama’s brilliant clean-energy ventures has collapsed after taking tens of millions of dollars from American taxpayers, in this case to develop a special wheelchair-accessible “green” van.

    The news comes just weeks after a separate company that got nearly $200 million from the government to develop hybrid vehicles folded. That fly-by-night company, Fisker Automotive, had been heavily touted by the administration as an innovator that would develop two lines of plug-in hybrid electric vehicles that could run up to 300 miles on a rechargeable Lithium-ion battery. Before doling out the cash, Obama’s Energy Secretary assured the cars “will save hundreds of millions of gallons of gasoline and offset millions of tons of greenhouse gas emissions by 2016.”


    Instead the southern California startup manufactured a measly 2,700 vehicles, sold a laughable 2,000 and failed to build one for nearly a year before laying off three quarters of its employees. That’s after getting $192 million from Uncle Sam.

    This week’s green-energy fleecing du jour is like a pathetic sequel to the Fisker scandal, except the hemorrhaging got plugged sooner, after only $50 million.

    Second Obama Green Venture in Weeks Folds after Getting Millions | Judicial Watch
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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    OPM (Other Peoples Money) is as addictive as a narcotic.

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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    The nature of venture capital is that it is at risk, and sometimes is lost.
    The question is, why is the government in the business of venture capital?
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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    Quote Originally Posted by Dittohead not! View Post
    The nature of venture capital is that it is at risk, and sometimes is lost.
    The question is, why is the government in the business of venture capital?
    Agreed - the government is far better off giving tax incentives for private individuals to risk capital or to reward successful risks with corporate tax breaks once up and running.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    In the same vein, does the President not get credit for the success of Telsa? I mean, they too received an ATVM loan from the government and they are now finally posting their first gains.

    Quote Originally Posted by zimmer View Post
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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    Quote Originally Posted by Chaddelamancha View Post
    In the same vein, does the President not get credit for the success of Telsa? I mean, they too received an ATVM loan from the government and they are now finally posting their first gains.
    How many people can afford its cars?
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    Quote Originally Posted by AlabamaPaul View Post
    How many people can afford its cars?
    Since they seem to be in the $100,000 price range, the average Joe on the street has to settle for less! Poor Joe!

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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    It's not just affording their cars. It's about Telsa being able to use that money to manufacture the cars, using other American companys, which helps improve the economy. That's what Fisker was also doing.

    In the first stage of the program, Fisker Automotive will use a $169.3 million ATVM loan for engineering integration costs as it works with primarily U.S. suppliers to complete the company’s first vehicle, the Fisker Karma.
    https://lpo.energy.gov/us-energy-sec...er-automotive/

    Quote Originally Posted by AlabamaPaul View Post
    How many people can afford its cars?
    Hail to the King baby!

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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    Quote Originally Posted by Chaddelamancha View Post
    It's not just affording their cars. It's about Telsa being able to use that money to manufacture the cars, using other American companys, which helps improve the economy. That's what Fisker was also doing.



    https://lpo.energy.gov/us-energy-sec...er-automotive/
    Yes, it's providing jobs around the world, not just in the US...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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    Re: Second Obama Green Venture in Weeks Folds after Getting Millions

    And..................

    Quote Originally Posted by AlabamaPaul View Post
    Yes, it's providing jobs around the world, not just in the US...
    Hail to the King baby!

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