Sunday, October 23, 2011

Sending Jobs Overseas To Cure Our Recession?

If you have been following Fisker Automotive and Vice President Joe Biden you would know this is his "darling" he enveloped with open arms. Fisker secured a $529 million dollar loan guarantee for its startup electric car company from the Department of Energy.

A venture capital firm financing Fisker includes former Vice President Al Gore. Oh, the price of the car, $97,000.00.for its luxury version and $57,000.00 for the mass produced vehicle. Now that's a price we all can afford. Remember, Barack Obama put a Car Czar in charge of Government Motors and the electric car,Volt, will only set us back $41,000.00. Yet, the Democrats call the Republicans "rich". What a laugh.

ABC news is reporting that Fisker created 500 manufacturing jobs in Finland to produce the car. You can read the story 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.

An investigation by ABC News and the Center for Public Integrity's iWatch News 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.

What's that's George Bush's fault, right. Leonardo DiCaprio??

1 comment:

Used Cars Twin Cities said...

I'm not an expert on economic matters but it seems to me to make more sense to create jobs in the U.S. Hoping overseas jobs will cure our recession is far fetched.