Oh, What's Another $ Billion of US Taxpayers' Money Down the Drain...

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Biden: "This is seed money that will return back to the American consumer in
billions and billions and billions of dollars in good new jobs"

Quote at 1:20 mark of video here:
http://abcnews.go.com/Blotter/car-company-us-loan-builds-cars-finland/story?id=14770875#.TzEv6MhlxEN

But.... the jobs went to Finland, OOPS.

Car Company Gets U.S. Loan, Builds Cars In Finland

ap_henrik_fisker_joe_biden_jp_111019_wg.jpg

Car Company Gets U.S. Loan, Builds Cars Overseas
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By MATTHEW MOSK (@mattmosk) , BRIAN ROSS (@brianross) and RONNIE GREENE
ABC NEWS and iWATCH NEWS
Oct. 20, 2011



With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.
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 company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
"There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here."
Henrik Fisker said the U.S. money has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive.
"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."
The loan to Fisker is part of a $1 billion bet the Energy Department has made in two politically connected California-based electric carmakers producing sporty -- and pricey -- cutting-edge autos. Fisker Automotive, backed by a powerhouse venture capital firm whose partners include former Vice President Al Gore, predicts it will eventually be churning out tens of thousands of electric sports sedans at the shuttered GM factory it bought in Delaware. And Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin, says it will do the same in a massive facility tooling up in Silicon Valley.
 
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Fisker having trouble delivering its hybrid cars






Updated 2012-01-23 12:56 PM



CAPTION
By GABRIEL BOUYS, AFP/Getty Images



When you see the kind of trouble that Fisker Automotive is having trying to get its first model in the hands of buyers, it sort of makes you wonder how will it ever get the next one out -- and whether taxpayers will ever get their loan repaid.Fisker is starting to lose buyers, and their $5,000 deposits, because of trouble delivering the cars, reporter Mark Rechtin of Automotive News reports. The car is the Karma, a $103,000 hybrid. Some 1,500 of the Finnish-built Karmas are stuck at sea, stuck in customs or otherwise stuck.
Fisker, meanwhile, is seeing problems such as strained relations with suppliers and cash-flow issues. That's not good when you're gearing up for a second model, a yet-unnamed, mass-market electric car to be built in Delaware with proceeds from a $500 million government loan. If the company can't hold itself together, it is likely to become an issue in the presidential campaign, with the Republican nominee pointing to Fisker as an example of Obama administration waste.
Fisker has geared up employment to 650 at its Anaheim, Calif., headquarters, from 150 a couple of years ago.
It probably didn't help matters that Fisker got rid of its powertrain supplier, Quantum Fuel Systems Technologies Worldwide, last year, Rechtin reports. Now, Fisker is going to make its own powertrains.




http://content.usatoday.com/communi...er-karma-hybrid-obama-waste-government-loan/1
 
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Awwww. Looks like scammer Al Gore is part of Fisker's venture capital firm. How convenient.
 

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Zit....not another thread that will get proven false. You have been getting destroyed lately. Time to give up. That georgia birth certificate thread was an embarrassment
 
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Of course, what Zit fails to disclose is that Fisker has actually only received $193 million of the loan so far. It was not a lump sum loan. They are trying to renegotiate the loan with the government now in order to start another plant in Delaware. But this company has had a rough start and if things don't improve I doubt they will not get any more than the $193 million.


http://www.businessinsider.com/electric-car-company-fisker-may-be-running-out-of-juice-2012-2
 

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That didn't take long. Another zit thread torn apart. How can he continue to show his face? Amazing.
 

Life's a bitch, then you die!
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Of course, what Zit fails to disclose is that Fisker has actually only received $193 million of the loan so far. It was not a lump sum loan. They are trying to renegotiate the loan with the government now in order to start another plant in Delaware. But this company has had a rough start and if things don't improve I doubt they will not get any more than the $193 million.


http://www.businessinsider.com/electric-car-company-fisker-may-be-running-out-of-juice-2012-2

So what you’re admitting is the BO made another in a long line of bad decisions.

What did you expect from a guy who has never run anything, not even a lemonade stand.
 
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Of course, what Zit fails to disclose is that Fisker has actually only received $193 million of the loan so far. It was not a lump sum loan. They are trying to renegotiate the loan with the government now in order to start another plant in Delaware. But this company has had a rough start and if things don't improve I doubt they will not get any more than the $193 million.


http://www.businessinsider.com/electric-car-company-fisker-may-be-running-out-of-juice-2012-2

Um, I disclose whatever is in the news articles that I post, with the sources.
ABC news reported that it was a guaranteed loan.

So, your insinuation that I failed to disclose something is laughable.

Nice troll attempt though.
 
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So what you’re admitting is the BO made another in a long line of bad decisions.

What did you expect from a guy who has never run anything, not even a lemonade stand.
I didn't admit anything. Just pointed out that Zit left out some information...as usual
 
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Um, I disclose whatever is in the news articles that I post, with the sources.
ABC news reported that it was a guaranteed loan.

So, your insinuation that I failed to disclose something is laughable.

Nice troll attempt though.

Maybe if you investigate a story a little more instead of just cut and pasting the first thing you read, maybe you wont look like an idiot so often...
 

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Maybe if you investigate a story a little more instead of just cut and pasting the first thing you read, maybe you wont look like an idiot so often...

Zit has been doing this kinda thing forever. He was busted omitting authors of some stories because they were know to be loons. He has even used british tabloids as sources before.

I've seen guys like willie and dave007 take some severe beatings here before but zit is getting destroyed on a whole new level these days.
 

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