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The Magic Cafe Forum Index » » Not very magical, still... » » Half Billion+ Stimulus...To Finland To Build Cars! (0 Likes) Printer Friendly Version

Kevin Connolly
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New Jersey
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And it's a crappy car to boot. The problem is not with Wall Street, but the White House.
Please visit my website.
www.houdinihimself.com

Always looking buy or trade for original Houdini, Hardeen and escape artist items. I'm interested in books, pitchbooks and ephemera. Email [email]hhoudini@optonline.net[/email]
Big Jeff
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301 Posts

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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.
Magnus Eisengrim
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Sulla placed heads on
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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 Department of Energy says

Quote:
Fisker’s 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 Fisker’s first vehicle, the Fisker Karma. That work was done Fisker’s 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 Fisker’s existing overseas facility, the Department’s 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 – is supporting the production of Fisker’s 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.

Fisker’s 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.





John
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.--Yeats
bblumen
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Baltimore
987 Posts

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Not to worry, internet inventor Al Gore is an investor.

What could go wrong?


Brian
"Lulling the minds of your company is more important than dazzling their eyes." Ed Marlo
Kevin Connolly
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New Jersey
1329 Posts

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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.
Please visit my website.
www.houdinihimself.com

Always looking buy or trade for original Houdini, Hardeen and escape artist items. I'm interested in books, pitchbooks and ephemera. Email [email]hhoudini@optonline.net[/email]
tommy
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Devil’s Island
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Crap paper for a crappy car. Smile
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Magnus Eisengrim
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Sulla placed heads on
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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.


Are you saying that the DOE is misrepresenting the facts? They clearly state that "the larger portion of the loan -- $359 million – is supporting the production of Fisker’s 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
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.--Yeats
tommy
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The problem is selling them
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Big Jeff
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The problem is the factory in delaware isn't open, therefore no AMERICAN jobs.
tommy
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If that is the case then one wonders why the USA has done that?
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
rockwall
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762 Posts

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Quote:
On 2011-10-21 19:59, Magnus Eisengrim wrote:
...
Are you saying that the DOE is misrepresenting the facts?
...


Apparantly, yes. Quite a surprise.
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