Obama Green Energy Failure: Fisker Automotive Received More than Half-Billion Dollars in Federal Loans … Laying off Workers at their Delaware & California Plants


Another Barack Obama “green” energy failure …

Fisker Automotive, a California based electric car start up company that received $529 million in loans to produce two lines of plug-in hybrid cars, is laying off workers in Delaware and California. Wow, who could have predicted that this would have been a waste of tax payer money? After all, as the Lonely Conservative reminds us the electric car goes for such a paltry cost of $100,000.

Delaware’s News Journal reports that Fisker Automotive, a California-based electric car start-up company, is laying off an undisclosed number of staff to try to reserve enough capital in order to qualify for more federal help from the Department of Energy, according to a Delaware state development official.

“They’re trying to preserve the cash that they have,” said Alan Levin told the News Journal. “And unfortunately, until they meet the milestone that DOE continues to set … they’re not able to access the additional capital that they need.”

The company also came under fire last year for taking federal loans while producing cars in Finland. Company officials told ABC News at the time that “there was no contract manufacturer in the U.S. that could actually produce our vehicle.” The company was working on reopening a shuttered General Motors plant in Wilmington to produce vehicles — an effort that top Obama administration officials lauded.

So lets get this correct. Obama’s answer to US jobs and the economy is wasteful spending to “green” companies like Solydra and Fisker … but The One says no to the  Keystone XL pipeline. We all know that Obama’s funding of these companies had nothing to do with jobs and everything to do with politics. Obama must go in 2012.

If you liked this post, you may also like these:

  • Obama White House Knew “Green” Electric Car Maker Fisker Automotive was Failing and Still Gave them More Tax Dollars
  • Fisker Automotive Who Received Government Loan Totaling $529 million Fires 75% of Workers
  • Obama’s Failed Green Energy Policies: American Taxpayers Lose $139 Million on Fisker Automotive Loan
  • Another Obama Touted Green Energy Company Lays off Workers, Abound Solar Received $70 Million and Lays Off 280 Employees
  • A123 Systems, An Electric Car Battery Company … Another Barack Obama Green Stimulus Company Failure

  • Comments

    4 Responses to “Obama Green Energy Failure: Fisker Automotive Received More than Half-Billion Dollars in Federal Loans … Laying off Workers at their Delaware & California Plants”

    1. brie. on February 7th, 2012 11:28 am

      I wish Obama would go before 2012, just more time to do more damage. With everything he is responsible for I don’t know how he has remained in office. Complete misuse of money and power. And Michelle’s out of control spending. $500.00 for a pair of gym shoes, ridiculous!!! These people make us look like fools!!!

    2. rightknight on February 7th, 2012 4:39 pm

      Due to the Obama Economy failures, the cost of
      buying a vote will soon outstrip the ability of this
      Administration to use We the People’s money to
      acquire enough of them for reelection.

    3. barbreee on February 7th, 2012 8:25 pm

      I wonder if the fool would give me a loan, so I can pay my FRICKIN taxes.

    4. SUPER DAVE on February 8th, 2012 8:11 am

      the Republicans need to pour on the heat and pressure on Obama like has never been seen. he needs to be bombarded with this every waking minute and also he need to hear about Fast and Furious continously until he admits that he and holder caused this and the death of an American citizen at their hand.
      if this border patrol agent had been black, we would be hearing it on the news every day.

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