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Fisker Karma
This is the same program that funded Fisker Automotive

South Dakota's Republican senator wants to terminate the federal loan program that gave millions of dollars to Fisker Automotive -- an automaker that has failed to produce a car in over a year and is now missing loan payments to the U.S. Department of Energy (DOE). 

According to The Detroit News, Sen. John Thune (R-S.D.) wants to get rid of the $25 billion Advanced Technology Vehicle Manufacturing loan program due to failures like Fisker Automotive wasting taxpayer money. He has already proposed an amendment that would “permanently end the ATVM program and save taxpayers from paying for more of President Obama’s bad green-energy bets.”

Thune's amendment comes after the DOE said it would auction off Fisker Automotive's $168 million unpaid loan earlier this week. DOE plans to launch the auction in early October. 

Fisker Automotive is an auto startup that received $529 million in DOE loans back in April 2010. However, Fisker fell a little behind on its production schedule, and in May 2011, DOE froze the loans due to "unmet milestones." Fisker had only drawn $193 million of it at that point. It hasn't been able to build a car since July 2012, and started looking for a buyer so it doesn't have to claim bankruptcy.

But Fisker isn't the only auto company that failed after receiving money from the Advanced Technology Vehicle Manufacturing loan program. Vehicle Production Group LLC -- which is a Michigan-based startup building wheelchair-accessible compressed natural gas vehicles -- was awarded $50 million in loans back in March 2011, but has since halted production.


Senator John Thune

DOE sold its unpaid $50 million loan for Vehicle Production Group LLC to AM General for $3 million earlier this month. According to The Detroit News, taxpayers lost about $42 million on that sale.

The Advanced Technology Vehicle Manufacturing Program was created by Congress in 2007 in an effort to reach the goal of 1 million EVs on U.S. roads by 2015, but the program hasn't made a new loan since March 2011. This is mainly due to the fact that two of the five companies (Fisker and Vehicle Production Group) that received government loans stopped production. 

The Obama administration received a lot of flak for these failures, but the program wasn't all bad. The other three loans -- $5.9 billion to Ford, $1.4 billion to Nissan and $465 million to EV startup Tesla Motors -- proved to be successful. Tesla even managed to pay its full sum back nine years early, which was a great feat for a startup. 

U.S. Energy Secretary Ernest Moniz said last month that the Obama administration is interested in reviving the $25 billion Advanced Technology Vehicle Manufacturing Program. He noted that it plans to draw a new round of loan requests (but is not actively considering any applications for retooling loans) and reexamine its lending criteria in order to avoid problems it encountered in the past. 

Source: The Detroit News





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RE: Bad Loans
By EricMartello on 9/26/2013 12:28:21 AM , Rating: 2
quote:
Monarchies are not inherently left nor right. Furthermore, Britain was a parlimentarian system, even in 1776. The king had power, and indeed part of the problem with George the third was his attempts to restore more power to the throne, but what kept him in check was the Parliament.


You've basically just stated that you do not understand why the revolutionary war was fought, or why Britain's rule was tyranny.

The fundamental tenet that defines a left wing government from a right wing government is who the government serves and how government officials are appointed.

Monarchies (along with dictatorships) are without a doubt far left wing. Only "nobles" are eligible to serve within governmental positions, and only descendants of the king or queen are eligible to rule. There are no elections, ever...and if there are, they're usually ripe with fraud.

Rome had an emperor; the existence of the roman senate did not "keep rome's emperor in check". It gives people the illusion that they have some say over what's going on in their country when in reality, the final say is up to ONE person or a very small group of people.

quote:
I''m not certain how you feel it was a right wing view, by definition ''conservative'' is an adherence to tradition, and at the time of the Revolution the tradition was monarchy.


Conservative politics imply minimal deviation from what was laid out in the original constitution and limited application of government. Conservative philosophies, favoring tradition, are a separate thing.

There used to be such things as conservative democrats, and some still exist today as in Colorado with the recall of two politicians that pushed forth unconstitutional laws against the 2nd Amendment.

quote:
Right = Saddam''s Iraq
Right = Putin''s Russia
Right = Iran
Right = Saudi Arabia


None of these are even remotely right-leaning...wow... /facepalm

What you listed above are either dictatorships, oligarchies or theocracies - all manifestations of left wing. Left wing governments seek absolute control and power over its people.

Right wing governments are limited in scope and power.

MOST GOVERNMENTS IN THE WORLD ARE LEFT WING - THAT IS WHY THE USA IS SUCH A GREAT AND UNIQUE COUNTRY.

quote:
Authoritarinism has nothing to do with right or left leaning policies. Furthermore, economic systems are not inherently left or right, you mention the National Socialists(NAZI) but Hitler was extreme right leaning in almost all social and military aspects.


Here we go again with the MSNBC portrayal of what "right wing" means. Sorry dipsh1t, but the Nazi regime, which was elected into power during a time when Germany's people were suffering economic strife and were receptive to the kool-aid, was a dictatorship.

Once elected, Hitler promptly killed anyone who didn't acknowledge him as the sole leader of his regime. Hitler was probably the most famous "progressive" to date. Progressives believe they have all the answers, and that they have some divine edict to "save" the rest of us from ourselves. They strive to fit everyone into their idea of how things should be - EXACTLY what Hitler did once he came to power.

Let's review...right wing governments are:

- Limited in size and scope.
- Tend to exist as republics, to serve the people.
- Derive their authority from the people; i.e. not controlled by military doctrine.
- Typically have a constitution document that declares the rights of its people and the powers granted by the people to the government.
- Have democratically elected officials.
- Have term limits for key offices (something that was removed from the US constitution and needs to be re-inserted).

So...yeah...your assertion that Hitler's Germany was "right wing" or that nazi SOCIALISTS are right wing underlines your sheer stupidity.

quote:
And it is your opinion that a tilt to the left is a bad thing for the USA. I look at rising lifespans, greater economic opportunities, rising wealth and a much higher quality of life and it seems to fly in the face of a claim that the US is declining due to any perceived leftward tilt.


None of these things exist because of anything the left did, moron. America's greatest recent era of prosperity took off after Reagan reversed a decade of liberal left-wing failures in the 80s and nearly half a century of democrat-controlled house and senate.

Bush Sr. managed to keep Reagan's momentum going, but fizzled out toward the end when he decided to cave to democratic demands rather than standing for his own beliefs.

Clinton, a centrist, spent the first few years of office trying to push a program similar to obamacare but it flunked out bad. His efforts resulted in a backlash that enabled republicans to gain control of the house. Clinton, being a better president than Obama, was able to work out a deal with republicans to accept spending cuts and did some work to reform welfare. However, in 1995, Clinton signed the glass-steagall act into play which planted the seed for the economic meltdown of 2008.

Furthermore, many of Clinton's presidency, which benefited from the things put in place by reagan and bush sr, was falling apart near the end of his second term as he was facing impeachment.

Better for you does not equal better for America - but that's what liberals just don't seem to get. It's NOT about YOU and what YOU want.

With your head so far up your a55 it's no surprise that you don't perceive any decline. You also don't seem to realize how much better things could be now with the proper leadership in place right now...and the proper leadership for a country is NEVER from left wing.


RE: Bad Loans
By Reflex on 9/26/2013 1:57:10 PM , Rating: 2
Given that you cannot reply without constant insults, and you seem to believe you have a right to your own facts rather than only a right to your own opinion, I am not going to bother to respond to this mess. I will respond to one thing though:

quote:
It's not society's job to pay for his treatment - that's your family's job and responsibility. Short of that, turn to charity.

No.

Period. And anyone who tries to change this I will oppose. This is basic human decency. This kind of thinking is a war against the people who built this country. My father worked in construction his whole life because he wanted to be one of those people you talk about as making America great. Unfortunately that kind of work has a great toll, especially physically. Combined with unlucky genetics, he is in a situation that would cost me more than a hundred grand a year. That burden is too great for me, even at my income level, and it is certainly nothing he could have ever prepared for.

Society can afford to take care of situations like this. Otherwise there is no point to a society at all.

Believe whatever you choose to believe, but advocating this point of view will not only lose you credibility, it will lose you votes. Most of the people who agree with much of what you said are also in need of the programs you oppose. Like it or not, this is a decision we as a society made 80 years ago, and it is one that has worked out well for the vast majority of people. It works, it works well, and it is inexpensive.

I would say that I am sorry that the country is not going in the direction you would prefer, but I'm really not. The nation you would like would cripple me financially and penalize people like my father who built the things you get to enjoy every day.

Such entitlement is astonishing, but I guess its to be expected on both extremes of the political spectrum.


RE: Bad Loans
By EricMartello on 9/26/2013 11:04:33 PM , Rating: 2
quote:
Given that you cannot reply without constant insults, and you seem to believe you have a right to your own facts rather than only a right to your own opinion, I am not going to bother to respond to this mess.


Everything I stated is fact, and as such is independently verifiable. Me stating facts that you disagree with does not magically convert my statements into "opinion"...and I didn't insult you, again, a simple statement of fact. You're obviously not that smart but maybe you're pretty. Work with what you got.

quote:
No.

Period. And anyone who tries to change this I will oppose. This is basic human decency. This kind of thinking is a war against the people who built this country. My father worked in construction his whole life because he wanted to be one of those people you talk about as making America great. Unfortunately that kind of work has a great toll, especially physically. Combined with unlucky genetics, he is in a situation that would cost me more than a hundred grand a year. That burden is too great for me, even at my income level, and it is certainly nothing he could have ever prepared for.


I like how you think that merely working hard, and doing so for a living - not out of charity, somehow qualifies him for taxpayer-funded handouts. It doesn't, and you're not making a logical case. You're making a dumb-witted emotional plea.

You've obviously wrapped yourself in a thick layer of bogus justifications and you've also failed to state why your own family is unable to take care of themselves. You claimed that you were 'raised conservative' implying that your family was conservative - if they were, they'd be contributing to the care of your grandfather.

It really seems like you lied about that too, just like you're trying to hide the fact that you're a dumba55 liberal parasite by claiming to be a "moderate".

Like I said, your family members' health issues are YOUR problem not mine - you making it mine because of you trying to impose your idea of "decency" at my expense is what makes you an enemy of the state.

What you fail to grasp is that if you supported local community groups, church, charities rather than having the government steal more money from peoples' paychecks only to hand it over to you, then you would likely have been able to get the support you need from people around you that know you.

quote:
Society can afford to take care of situations like this. Otherwise there is no point to a society at all.


No point to society if it's not giving losers handouts?

What an asinine statement. Pure stupidity condensed into a short string of words...

In America, society was intended to provide a general structure that offered all citizens equal opportunity - something that still exists today despite being steadily eroded by selfish liberals like you.

Your idea that society only exists to give the failures "free stuff" by taking it from the people who are motivated to succeed is about as anti-American as anyone can get.

Why are you still in this country? Just leave and go back to Europe where your way of thinking is generally accepted.

quote:
I would say that I am sorry that the country is not going in the direction you would prefer, but I'm really not. The nation you would like would cripple me financially and penalize people like my father who built the things you get to enjoy every day.


Your contrived anecdotal tale, which is was overused during the 2012 campaign, is a load of crap that you're hoping makes your point for you. It doesn't because it's devoid of logic.

First of all there are many people who participate in the construction industry and do so as small business owners or independent contractors. They did not do so because of a government mandate - they did it to pursue one of the many opportunities available to Americans.

A lot of these people were and are making a respectable living with construction work, but apparently the stupid gene that you carry now was present with your grandpa since he wasn't able to move up from the ranks of "rookie" in the world of construction.

You're also overstating your imaginary grandpa's contribution to society. He did his job like millions of other people used to do (before the obamaconomy) - his existence or lack thereof would not have had any appreciable impact on the development of the USA. Now you have millions collecting food stamps, disability and welfare checks - I guess that's the "new" jobs he promised.

Your personal financial solvency is again your problem - not society's responsibility. There are state-run institutions that could offer care for people who cannot afford it. Short of that, ask yourself, what's the point of keeping someone around who can't remember anything? Let nature run its course and do the world a favor and don't reproduce and spread your fail genes.

The notion that just because someone is wealthy, that they should be obligated to prop up people who don't is inherently flawed. People need options to move up and those who do should be rewarded. Those like you, who give up when faced with a challenge, should be penalized and should be allowed to fade into oblivion. The FEWER people like you that exist in society, the better society is.


"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation













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