Electric Car Maker Coda Files For Bankruptcy

Another Obama “green” energy company fails miserably … Another One Bites the Dust.

According to the WSJ, electric car maker Coda has filed for chapter 11 bankruptcy. The company’s lone passenger car, the CODA sedan debut in March 2012 went poorly; less than 100 units were sold. 100!!! Or what we like to call Obamanomics in action. The company blamed the car’s flop on a variety of factors, including stunted demand for electric vehicles, adverse macroeconomic conditions and insufficient capital to effectively market the car. The fact of the matter is no one is going to pay $38,000 for am electric car. There is no demand for them and if there were the price would have to be cut in half and that does not men by getting a federal government rebate.

Electric car maker Coda Holdings Inc. filed for Chapter 11 protection from creditors after pronouncing its $38,000 sedan “a commercial disappointment” and failing to sell its assets outside of bankruptcy.

The company’s lone passenger car, the CODA sedan, was plagued by delays. Its eventual market debut in March 2012 went poorly; less than 100 units were sold, “falling well short of the company’s expectations,” according to the Los Angeles company’s bankruptcy filings.

A group of lenders led by an affiliate of Fortress Investment Group FIG 0.00%is offering about $25 million for the assets and may use debt to cover that price, according to documents filed in a Wilmington, Del., bankruptcy court. The group also is providing the company with a $5 million loan intended to keep Coda afloat as it navigates Chapter 11

Obama White House Knew “Green” Electric Car Maker Fisker Automotive was Failing and Still Gave them More Tax Dollars

CBS News is reporting that the Obama White House knew that the electric car maker Fisker Automotive Inc. was failing and still gave the “green” company even more money. According to documents, the Obama administration knew as early as 2010 that the company was not meeting standards, yet did nothing to halt the government loan. Fisker had received a total of $192 million of the $529 million loan before it was suspended. I guess Obama would call that a success that his administration did not give them all of the loan. This administration was hell-bent on funding their pet green energy companies at all cost, regardless of the cost and the failings of this companies.

Newly obtained documents show the Obama administration was warned as early as 2010 that electric car maker Fisker Automotive Inc. was not meeting milestones set up for a half-billion dollar government loan, nearly a year before U.S. officials froze the loan after questions were raised about the company’s statements.

An Energy Department official said in a June 2010 email that Fisker’s bid to draw on the federal loan may be jeopardized for failure to meet goals established by the department.

Despite that warning, Fisker continued to receive money until June 2011, when the DOE halted further funding. The agency did so after Fisker presented new information that called into question whether key milestones — including the launch of the company’s signature, $100,000 Karma hybrid — had been achieved, according to a credit report prepared by the Energy Department.

It is just endless, the number of green energy failures and the wasted tax payers money that the Obama administrations has spend down a “green” energy rat hole. Whether it be Fisker, Solyndra, Abound Solar, A123 Systems, Ener1 and list goes on and on and on.

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)

Economy Surges in America’s Low Tax, Energy Rich, Pro-Business Red State Growth Corridors … Obamanomics Disproved Yet Again

OBAMANOMICS: EPIC FAILURE …

It is no coincidence that “RED” states with energy rich, low taxes and less oppressive government regulation are showing an economic growth in the United States as liberal “blue” states like California and Massachusetts are not. The trends show that the U.S. economic future is dominated by four growth corridors that are generally less dense, more affordable, and markedly more conservative and pro-business: the Great Plains, the Intermountain West, the Third Coast, spanning the Gulf states from Texas to Florida, and the Southeastern industrial belt. When businesses move to these areas for economic reasons, the people will follow. Imagine that, what a novel concept. Areas that are low in taxes, pro-business, energy rich states that are not afraid to unleash capitalism are a success. What do most all of the states have in common, they are “Red” states.

In the wake of the 2012 presidential election, some political commentators have written political obituaries of the “red” or conservative-leaning states, envisioning a brave new world dominated by fashionably blue bastions in the Northeast or California. But political fortunes are notoriously fickle, while economic trends tend to be more enduring.

These trends point to a U.S. economic future dominated by four growth corridors that are generally less dense, more affordable, and markedly more conservative and pro-business: the Great Plains, the Intermountain West, the Third Coast (spanning the Gulf states from Texas to Florida), and the Southeastern industrial belt.

Overall, these corridors account for 45% of the nation’s land mass and 30% of its population. Between 2001 and 2011, job growth in the Great Plains, the Intermountain West and the Third Coast was between 7% and 8%—nearly 10 times the job growth rate for the rest of the country. Only the Southeastern industrial belt tracked close to the national average.

More interesting data pointed out by Instapundit showing the migration of the population away from the high tax states. Their fear though is that will the migration of blue state liberals ruin the places to where they are going to as they have devastated the Northeast and states like California and Illinois. My personal opinion is no. The moochers and leeches will stay put looking for a government hands and entitlements. Those who are tired of the high taxes and liberal oppression are the ones who are looking for greener pastures. Or should I say “red” state pastures.

Since 2000, the Intermountain West’s population has grown by 20%, the Third Coast’s by 14%, the long-depopulating Great Plains by over 14%, and the Southeast by 13%. Population in the rest of the U.S. has grown barely 7%. Last year, the largest net recipients of domestic migrants were Texas and Florida, which between them gained 150,000. The biggest losers? New York, New Jersey, Illinois and California.

Barack Obama Unveils $500 Million Gun Violence Package Including Putting 1,000 Police Officers in Schools … I Thought the LEFT Scoffed at Police in Schools Suggested by the NRA?

TALK ABOUT LOST IN SMALLNESS … OBAMA UNVEILS $500 Million GUN VIOLENCE PACKAGE AND PLANS TO PUT 1000 POLICE OFFICERS IN SCHOOLS.

Today President Barack Obama unveiled a $500 million gun violence plan that included plans to put 1000 police officers in schools. Ok, three things come to mind here that are quite telling and somewhat interesting with regards to Obama’s anti-2nd Amendment agenda in the wake of the Sandy Hook Elementary school shootings. He also proposed his 23 executive orders that in retrospect looked rather weak and lame.

500 million dollars!!!

One, $500 million, that’s it? Barack Obama throws billions around like its water. Obama gave failed green energy companies Solyndra $535 million, Fisker Automotive $529 million, Abound Solar $400 million, Willard and Kelsey Solar Group $700,981, let alone the rest of the green energy boondoggle failures. Yet, when it comes to the safety of the children Obama can only muster a measly $500 million. WOW, how big of him. The above referenced failed companies were provided over $2 billion of tax payer dollars, yet he comes up with $500 million for the children’s safety. NICE!

Two, 1000 police officers? That’s it? How small can this president be? As of 2010,  from the National Center for Educational Statistics there were a reported approximate 98,000 schools in the United States of which 67,000 were elementary schools. To put this in its proper perspective, 1000 police officers represents 1% of all schools and 1.5% of elementary schools. Really Mr. President, that’s your plan to keep the children safe from gun violence like what occurred at Sandy Hook, placing police in 1% of schools in America?  “We the People” can you understand now why I say that Obama is not serious at all?

Three, how is it that Obama is putting any police officers in schools after NBC’s David Gregory and the collective LEFT mocked the NRA’s Wayne LaPierre for proposing that armed guards be at every school in America. The LEFT lost their collective minds when this was suggested, yet Obama considered it, well kinda. So instead Obama split the difference and suggested putting police officers in 1% of the schools. Meanwhile his children are well protected by armed men with guns. No one is saying that Obama’s children should not be protected, of course they should. However, they are no more important than other American parents children. How is it that “We the People’s” children are not deemed worthy of protection as well?

Braced for a fight, President Barack Obama on Wednesday unveiled the most sweeping proposals for curbing gun violence in two decades, pressing a reluctant Congress to pass universal background checks and bans on military-style assault weapons and high-capacity ammunition magazines like the ones used in the Newtown, Conn., school shooting.

But the president, speaking at White House ceremony, focused his attention on the divided Congress, saying only lawmakers could enact the most effective measures for preventing more mass shootings.

“To make a real and lasting difference, Congress must act,” Obama said. “And Congress must act soon.”

The president vowed to use “whatever weight this office holds” to press lawmakers into action on his $500 million plan. He is also calling for improvements in school safety, including putting 1,000 police officers in schools and bolstering mental health care by training more health professionals to deal with young people who may be at risk.

Even supportive lawmakers say the president’s gun control proposals – most of which are opposed by the powerful National Rifle Association – face long odds on Capitol Hill.

Obama Adviser Axelerod Says, Romney’s Effort in Pennsylvania a Sign Mitt is in ‘deep trouble’ … Hmm, Then Why Dispatch Bill Clinton to PA?

This morning on FOX News Sunday, Obama senior political adviser David Axelrod told Chris Wallace that the Romney campaigns move to Pennsylvania was a sign of desperation and that they were in “deep trouble”.

Senior Obama campaign strategist David Axelrod said Mitt Romney’s visit to Pennsylvania shows the GOP nominee’s campaign is in “deep trouble” and losing in the traditional battlegrounds.

Axelrod told Chris Wallace on “Fox News Sunday” that the Romney campaign’s move into Pennsylvania is a sign of desperation because they are trailing in polls in Ohio, a state no Republican has won the election without.

“The battleground states on which we have been focusing on are not working out for them,” Axelrod said. “We’re ahead in all of them and now are looking for somewhere, desperately looking for somewhere to try and dislodge some electoral votes to win this election. And I can tell you that’s not going to happen.”

Ok, if it is such a sign of desperation on the part of Romney campaigning in Pennsylvania, what does one call it when Obama dispatches Bill Clinton to the Key Stone state? That is correct, Team Obama feels the need to send former President Clinton to PA to stem the “mittemtum”. If its such a waste of time and a sign that Romney is in “deep trouble”, how does Axelrod justify sending Obama’s greatest asset, Bill Clinton to Pennsylvania. In fact, as reported at the Gateway Pundit, Clinton is scheduled to do four rallies in PA.

I would dare say that it just might be Obama who is in trouble in Pennsylvania. Isn’t it interesting that Obama cannot go himself to Pennsylvania to stump in front of those folks who cling to their Bibles and guns. When will blue collar Democrats understand that Obama is 180 degrees different from Obama. A vote for Obama will end coal and any energy jobs in PA.

However, in the end when talking spinning the battleground states and what party is ahead, I think it comes back to who you think is telling the truth. To hear the GOP and Democrats discuss who is ahead is like listening to a divorce case. One of the two has to be lying as the laws of physics prove that both Obama and Romney can’t win convincingly.

If that is the litmus test, who is telling the truth, sorry but Team Obama has no credibility. For folks who can’t tell us the truth about Benghazi prior to an election as have not wanted to answer difficult questions about FEMA screw ups like running out of water following Hurricane Sandy … who is really going to believe you now?

Mayor Bloomberg & NYC Marathon Shamed into Canceling Race

This is still America, right?

In the end, the New York City Marathon has been canceled and will not be “run” on Sunday. Just hours after a fool-hearty Mayor Bloomberg supported the decision for the race to go forward, he backtracked on that decision after much criticism. However, the fact that the marathon was even contemplated to go forward shows just how little politicians really think of “We the People”.

“We would not want a cloud to hang over the race or its participants, and so we have decided to cancel it,” Bloomberg added. “We cannot allow a controversy over an athletic event — even one as meaningful as this — to distract attention away from all the critically important work that is being done to recover from the storm and get our city back on track.”

A note to Mayor Bloomberg, not sporting event is as important as the disaster, death and destruction of “We the People”. What fool actually thought that the NYC Marathon should have been run at all as individuals in the five boroughs of New York are struggling after Hurricane Sandy? We have seen nothing but death and destruction in the wake of Hurricane Sandy and contrary to Obama’s photo-ops and playing president, local politicians patting themselves on the back for a job well done … ALL IS NOT WELL!

How could anyone justifying going forward with a stupid road race as those in NY struggle to find food and water? They are without power, gas and heat and Bloomberg originally wanted to have a “Let them eat cake” moment and go ahead with a marathon? UNBELIEVABLE. Were the runners supposed to dodge the debris and bodies long the route? Were the runners supposed to grab water at marathon water stops as victims of Sandy did without? More than that, how did anyone justify bring people into NYC, filling up hotel rooms and using NYC resources as its citizens cried out for help?

Of course the race should not go forward and thankfully some one was shamed into canceling it. What would the reaction have been to run a marathon following Hurricane Katrina? No Sandy was not Katrina, but can we at least find the missing and the dead following the wrath of Sandy before the high and mighty decide to go for a jog?

Another Failed Obama Green Energy Venture … Michigan Battery Plant Places Workers on Furlough. Another $150 Million Wasted

Well there you go again … Obama picks another ‘green” energy loser …

Remember during the recent Presidential debate when Mitt Romney stated the following, “Mr President, you just don’t pick winners and losers, you pick losers VIDEO).“ Well, Obama has done it again, this time it is a Michigan battery plant that was given $150 million of tax payer dollars at the Compact Power plant as workers are placed on a rotating furlough.

From Fox News comes the following, ‘Plant that got $150M in taxpayer money to make Volt batteries furloughs workers’.

President Obama touted it in 2010 as evidence “manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced.

Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month based on lack of demand for lithium-ion cells.

As the Lonely Conservative opines, remember when Obama was touting that “green energy” jobs boom? Consider that among many of Obama’s 2008 promises to fix the economy in the where are they now files.

One of the Best Lines of the Denver Presidential Debate … Romney Slams Obama,“You Don’t Just Pick Winners and Losers, You Pick Losers”

As the dust settled on last night’s Presidential debate in Denver, CO, it was obvious that Romney was a man with a plan and Obama looked like a kid who had studied the wrong chapters for a test and was left begging the moderator to ask the next question, wanting to use a lifeline and ask Bill Clinton what to say and looking to the MSM for the protective cover they have provided him for the past five years.

In the VIDEO below, Romney pounded Obama in the exchange over subsidies for oil vs. the $90 billion that Barack Obama gave to the failed “green” energy companies like Solyndra, Solar Trust, Abound Solar, What is the equivalent of 50 years of breaks. Then came one of the memorable lines of the night and it is about time some one called Obama on it. What better place than with 40-60 million viewers. Mitt Romney said of Obama last night, “You Don’t Just Pick Winners and Losers, You Pick Losers.” Ouch, that’s going to leave a mark.

President Obama was so thoroughly beaten last night that even the LEFT had to admit that Obama did a dismal job. During last nights debate I thought Obama was going to use his “LifeCall” medical alert device and say, “I’ve fallen and I can’t get up”.

Where is the MSM? Remember When Obama Trashed Republicans for High Gas Prices During 2008 Election

REMEMBER WHEN GAS WAS UNDER $2/GAL? OF COURSE NOT, THAT WOULD REQUIRE THE MEDIA TO ACTUALLY CARE TO REPORT IT.

Remember when Barack Obama was trashing Republicans for the high price of gas during the 2008 Presidential election? The gas prices have more than doubled, $1.84 to $3.85, since Obama took office, yet the silence in deafening from the MSM informing America. The corrupt liberal media complex is so in the tank, pardon the pun, that it would be simply unheard of for the media to remind America that they are not better off today than they were four years ago.

From CNS News:

Average retail gasoline prices have more than doubled under President Obama, according to government statistics, rising from $1.84 per gallon to $3.85 per gallon.

The average gasoline price is calculated by the Energy Information Agency, and shows that over the past 43 months of President Obama’s term retail gasoline prices have more than doubled, rising from an average of $1.84 per gallon to $3.85 per gallon.

Rising gasoline prices were particularly prevalent in August, which saw a 9.0 percent rise in the Consumer Price Index (CPI) for gasoline, a rise that almost entirely accounts for the general increase in prices seen by families across the country over the past month.

Just curious, what energy independence plan did Obama come up with in the last four years? Question two, who thinks if Obama was a Republican that the price of gas and unemployment rate would lead every new broadcast?