More "green jobs" heading out of US...after we loan them money! (Obama, companies)

[Robeaux]

Nice, very nice.

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

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.

[Toyman at Jewel Lake]

An investigation by ABC News and the Center for Public Integrity's iWatch News that will air on "Good Morning America" found that the DOE's bet carries risks for taxpayers, has raised concern among industry observers and government auditors, and adds to questions about the way billions of dollars in loans for smart cars and green energy companies have been awarded. Fisker is more than a year behind rolling out its $97,000 luxury vehicle bankrolled in part with DOE money. While more are promised soon, just 40 of its Karma cars (below) have been manufactured and only two delivered to customers' driveways, including one to movie star Leonardo DiCaprio. Tesla's SEC filings reveal the start-up has lost money every quarter. And while its federal funding is intended to help it mass produce a new $57,400 Model S sedan, the company has no experience in a project so vast.

Absolutely assinine waste of the taxpayer's money. These companies aren't designing and building cars for the American public (forgetting for the moment the limitations of E-cars), they are building toys for rich people. Just why is the American taxpayer on the hook for this disaster?

[RCCCB]

Originally Posted by Toyman at Jewel Lake

Absolutely assinine waste of the taxpayer's money. These companies aren't designing and building cars for the American public (forgetting for the moment the limitations of E-cars), they are building toys for rich people. Just why is the American taxpayer on the hook for this disaster?

Not to mention that the green techonology also doesn't work well, costs a ton of money and evidently we now fund insanity outside the USA. Only in Obama world.