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Topic: Half Billion+ Stimulus...To Finland To Build Cars!
Message: Posted by: Kevin Connolly (Oct 21, 2011 03:06PM)
And it's a crappy car to boot. The problem is not with Wall Street, but the White House.
Message: Posted by: Big Jeff (Oct 21, 2011 03:18PM)
When barry loses his re-election here, he is going to run for king of finland.

The private sector is 'just fine' with job creation, it's the govt that has been losing jobs and needs to add more, that is according to Vice president joe biteme.
Message: Posted by: Magnus Eisengrim (Oct 21, 2011 03:26PM)
Do you have a source? I suspect you are talking about the 2009 loan guarantee to Fisker, an American company that does the bulk of its manufacture in Finland. According to the Wall Street Journal, the bulk of the loan was to be used to develop US-based manufacturing.

The [url=http://energy.gov/articles/fisker-tesla-and-american-auto-innovation]Department of Energy[/url] says

[quote]Fiskerís loan has two parts. In the first part, Fisker used $169 million to support the engineers who developed the tools, equipment and manufacturing processes for Fiskerís first vehicle, the Fisker Karma. That work was done Fiskerís U.S. facilities, including its headquarters in Irvine, California which has 700 employees and plans to continue hiring. While the vehicles themselves are being assembled in Fiskerís existing overseas facility, the Departmentís funding was only used for the U.S. operations. The money could not be, and was not, spent on overseas operations. The Karma also relies on an extensive network of hundreds of suppliers in more than a dozen U.S. states.

The larger portion of the loan -- $359 million Ė is supporting the production of Fiskerís Nina vehicles. Fisker is using this funding to bring a shuttered General Motors plant in Delaware back to life and employing more than 2,500 workers. Fisker was attracted to this site in part by the opportunity to rehire some of the trained, dedicated workers who lost their jobs when that plant closed.

Fiskerís production schedule was delayed by regulatory issues that were outside of its control, but the company has successfully raised more than $650 million in private sector investment to support its ongoing operations since closing its DOE loan.

[/quote]



John
Message: Posted by: bblumen (Oct 21, 2011 03:52PM)
Not to worry, internet inventor Al Gore is an investor.

What could go wrong?


Brian
Message: Posted by: Kevin Connolly (Oct 21, 2011 05:43PM)
John,

The money is supposed to be used to develop the car here and build it in Finland. Money is supposed to be used to open a closed factory here, but is up and running(poorly) in Finland. This sounds-like Solyndra all over again. Instead of solar panels that failed, this car is a failure too. They had better electric cars in 1895.
Message: Posted by: tommy (Oct 21, 2011 06:30PM)
Crap paper for a crappy car. :)
Message: Posted by: Magnus Eisengrim (Oct 21, 2011 06:59PM)
[quote]
On 2011-10-21 18:43, Kevin Connolly wrote:
John,

The money is supposed to be used to develop the car here and build it in Finland. Money is supposed to be used to open a closed factory here, but is up and running(poorly) in Finland. This sounds-like Solyndra all over again. Instead of solar panels that failed, this car is a failure too. They had better electric cars in 1895.
[/quote]

Are you saying that the DOE is misrepresenting the facts? They clearly state that "the larger portion of the loan -- $359 million Ė is supporting the production of Fiskerís Nina vehicles. Fisker is using this funding to bring a shuttered General Motors plant in Delaware back to life and employing more than 2,500 workers." The fact that Fisker has other factories elsewhere is irrelevant. If they got a loan to rehabilitate the GM plant in Delaware, and they are doing that while employing 2500 workers, where is the problem?

John
Message: Posted by: tommy (Oct 21, 2011 07:02PM)
The problem is selling them
Message: Posted by: Big Jeff (Oct 22, 2011 12:02PM)
The problem is the factory in delaware isn't open, therefore no AMERICAN jobs.
Message: Posted by: tommy (Oct 22, 2011 12:14PM)
If that is the case then one wonders why the USA has done that?
Message: Posted by: rockwall (Oct 22, 2011 06:33PM)
[quote]
On 2011-10-21 19:59, Magnus Eisengrim wrote:
...
Are you saying that the DOE is misrepresenting the facts?
...
[/quote]

Apparantly, yes. Quite a surprise.