Exporting Our Money.

[Bob Fechter]

Let's keep a tally of money from the recovery act sent to foreign countries.

Here's half a billion dollars to Finland, brokered by a venture capital group, one partner being failed presidential candidate Al Gore.

Obama Administration Gave Half-Billion-Dollar Loan to Al Gore-Connected Electric Car Company Fisker to Build in Finland | TheBlaze.com

 

[domtoni]

Interesting. Valmet produced the Porsche Boxster under contract, but that has ended. Makes sense that Fiskar (noted on their website their Finish facility) can start low volume production without much hassle? But will Fiskar ever make cars in the USA.

Here is an interesting article for you all:
Maker of Electric Sports Car Sues a Competitor - New York Times

 

[Jeff Young]

For those who actually read the article:

1. The work tied to the loan guarantee was done in the US.

2. It was just that, a loan guarantee, and no "money was exported."

I wish we could export ignorance.

 

[Ian Anderson]

Jeff

When Fiskers goes bang the creditors will look to the guarantor

Guess that means BO and his cronies - or perhaps just the population in the USA.


Ian

 

[Jeff Young]

No shit.

Loan was made in 2009. Has that happened?

 

[Mark]

Personally I think the UK tax payer ought to pay for some more brand new freeways in Spain! And our local councils should invest the council tax revenues in High risk-low gain-ten year saving plans in Greek banks.

Don't mock me guys, not yet. It just could happen!

 

[Bob Fechter]

For those who actually read the article:

1. The work tied to the loan guarantee was done in the US.

2. It was just that, a loan guarantee, and no "money was exported."

I wish we could export ignorance.

1. "is reportedly now assembling its first line of cars in rural Finland, rather than in the United States."

2. "Henrik Fisker said the U.S. loan has been spent on engineering and design work" How do you spend money you never got?

3. "I wish we could export ignorance." Don't be so hard on yourself.

 

[Jeff Young]

Bob --

Your complete inability to have basic reading comprehension skills, or an understanding of things like how a loan guarantee works, makes it impossible for reasonable people to discuss this with you.

Thanks.

Jeff

 

[domtoni]

Actually, I can't imagine Valmet producing the cars for nothing. They are in business to make money and Fiskar is just a means to that. Someone had to give Valmet an order, and agree to pay for said products at a specified price. Sure Fiskars bought an old GM plant, but will they ever make a car in the USA?

 

[Bob Fechter]

Bob --

Your complete inability to have basic reading comprehension skills, or an understanding of things like how a loan guarantee works, makes it impossible for reasonable people to discuss this with you.

Thanks.

Jeff

Your inability to see anything outside of your measly little liberal world makes your sphere of cognizance limited to the 5% of the lunatic left.

 

[Bob Fechter]

And the plot thickens!

ABC Exposes Govt. Loan to Build Cars in Finland, Skips Company's Ties to Dem Fundraisers | NewsBusters.org

 

[Jeff Young]

Ok Bob, let's stick to the basics. Let's assume that (since it all appears to be the case) the following is true:

1. The $500 million was a private loan guaranteed by the DoE.

2. It was used to fund design and development work in the US.

3. The loan is not in default.

Please explain to the rest of us why this is ohmygodsoterribleweareexportingmoney?

 

[Nick]

Hope they get a better return for their money than the British Government got for the $150 million it gave to DeLorean in the mid 1970's.

 

[Bob Fechter]

Ok Bob, let's stick to the basics. Let's assume that (since it all appears to be the case) the following is true:

1. The $500 million was a private loan guaranteed by the DoE.

2. It was used to fund design and development work in the US.

3. The loan is not in default.

Please explain to the rest of us why this is ohmygodsoterribleweareexportingmoney?

All letter of the law stuff, Jeff, I'm sure you specialize in it. How many Chevy Volts were sold last month, 125. How many $95,000 electric cars do you think will be sold? Not many and then what good is your non defaulted loan.

 

[Jeff Young]

Is guaranteeing loans to startups risky? Yep. Is it what China and India and others do to stay competitive? Yep.

By the way, not sure why this "story" just hit the right wing nutjob blogosphere. Fisker apparently disclosed the decision to manufacture the Karma in Finland back in 09 when it applied for the loan. But again, the design work is being done here and Karma is just the initial product with the $40,000 entry level car (if the company succeeds) to be built in.......drum rolll......Delaware.

When Will Fisker Build Cars in the U.S.? - Popular Mechanics

Non-story. Dumb thread. Nothing to see here, move one.

 

[Bob Fechter]

Is guaranteeing loans to startups risky? Yep. Is it what China and India and others do to stay competitive? Yep.

By the way, not sure why this "story" just hit the right wing nutjob blogosphere. Fisker apparently disclosed the decision to manufacture the Karma in Finland back in 09 when it applied for the loan. But again, the design work is being done here and Karma is just the initial product with the $40,000 entry level car (if the company succeeds) to be built in.......drum rolll......Delaware.

When Will Fisker Build Cars in the U.S.? - Popular Mechanics

Non-story. Dumb thread. Nothing to see here, move one.

Sure, lets move on. We've lent a foreign enterprise over half a billion dollars. It was brokered by a company that is a big Obama campaign contributor, They benefit from the research that money was spent on (I'm not seeing how much was actually spent on research, but we all know what happens to money that gets filtered through any enterprise Al Gore is involved with). And we have a pie in the sky promise that IF this $88,000 Impractical, untested luxury car generates enough money they will produce their $40,000 "economy" car in DELAWARE, which sounds a lot like the Volt and the Leaf, which Chevrolet and Nissan can't get rid of.

Chevy and Nissan aren't selling the Volt and the Leaf because they are waiting for Fisker to show them the way, right? Maybe the next guaranteed loan will be to people who can't afford a car and will never pay it back.

Yeah, move along, absolutely no story here, for a corrupt Liberal. Sorry for the oxymoron.

 

[domtoni]

Take a look at the number of units Fiskar has sold. 2, produced 40 and that's it.

American Federal Loans Create Jobs . . . in Finland*|*Godfather Politics

And people want to be paid.

Here is a commentary on Fox Auto about Fiskar's fuel economy. Note it comes after 6 minutes or so:

http://video.foxnews.com/v/1231328304001/hyundai-in-the-house/?playlist_id=86965

Let me add that Aeroquip, part of Eaton, has announced they are supplying air conditioning and power steering hoses. Great, but the parts will be made in Germany, not the UK or the USA.

 

[Jeff Young]

Get back to me when they default on a loan. May happen. Hasn't yet.

 

[Bob Fechter]

Get back to me when they default on a loan. May happen. Hasn't yet.

Heading down the default road, and look where they're making the cuts;

Electric car maker and U.S. loan recipient Fisker cuts jobs - Feb. 6, 2012

 

[Jim Craik]

General Motors lives and Bin laden does not!

Not every endeavor is successful, why do you only note the failures?