Fisker Automotive Who Received Government Loan Totaling $529 million Fires 75% of Workers


Yet just another example of more poor Obama investments in so-called “Green” energy companies …

Add Fisker Automotive to the long list of Obama’s green energy investment failures. As reported at Bloomberg, Fisker Automotive is firing as much as 75% of workforce. President Barack Obama and the Department of Energy should be forced to explain to the “We the People” why they pissed away the American tax payers hard earned money and continue to do so with these wasteful investments in to so-called green energy. When will the MSM ever do their job and hold Obama accountable? When will the American people ever wake up and do the same?

Fisker Automotive Inc.’s mass firings after receiving federal loans to build luxury plug-in cars is adding to the political debate over the U.S. government’s funding of clean-energy programs.

Most of the assets of Fisker’s battery supplier that received a $249.1 million federal grant, the former A123 Systems Inc. (AONEQ), were acquired last year by a Chinese company. Now Fisker, awarded $529 million in U.S. loans, is firing 75 percent of its workforce after failing to secure a deal with an automotive partner to fund operations.

The debacle is reviving questions over whether the government should be funding makers of alternative energy ventures. Fisker and A123, whose bankruptcy halted Fisker’s output, have drawn Republican criticism of President Barack Obama’s support of green-energy programs intended to spur more fuel-efficient cars.

How long will it be until Fisker Automotive declares bankruptcy? Its already on the list of Obama’s green energy investment failures.  Obama’s green energy investments have been a joke, now they are officially a complete joke.

The complete list of faltering or bankrupt green-energy companies:

  • Evergreen Solar ($25 million)*
  • SpectraWatt ($500,000)*
  • Solyndra ($535 million)*
  • Beacon Power ($43 million)*
  • Nevada Geothermal ($98.5 million)
  • SunPower ($1.2 billion)
  • First Solar ($1.46 billion)
  • Babcock and Brown ($178 million)
  • EnerDel’s subsidiary Ener1 ($118.5 million)*
  • Amonix ($5.9 million)
  • Fisker Automotive ($529 million)
  • Abound Solar ($400 million)*
  • A123 Systems ($279 million)*
  • Willard and Kelsey Solar Group ($700,981)*
  • Johnson Controls ($299 million)
  • Schneider Electric ($86 million)
  • Brightsource ($1.6 billion)
  • ECOtality ($126.2 million)
  • Raser Technologies ($33 million)*
  • Energy Conversion Devices ($13.3 million)*
  • Mountain Plaza, Inc. ($2 million)*
  • Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
  • Range Fuels ($80 million)*
  • Thompson River Power ($6.5 million)*
  • Stirling Energy Systems ($7 million)*
  • Azure Dynamics ($5.4 million)*
  • GreenVolts ($500,000)
  • Vestas ($50 million)
  • LG Chem’s subsidiary Compact Power ($151 million)
  • Nordic Windpower ($16 million)*
  • Navistar ($39 million)
  • Satcon ($3 million)*
  • Konarka Technologies Inc. ($20 million)*
  • Mascoma Corp. ($100 million)

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
  • Obama’s Failed Green Energy Policies: American Taxpayers Lose $139 Million on Fisker Automotive Loan
  • Obama Green Energy Failure: Fisker Automotive Received More than Half-Billion Dollars in Federal Loans … Laying off Workers at their Delaware & California Plants
  • A123 Systems, An Electric Car Battery Company … Another Barack Obama Green Stimulus Company Failure
  • Another Obama Touted Green Energy Company Lays off Workers, Abound Solar Received $70 Million and Lays Off 280 Employees

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