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$529 Million In Federal Funding And All Jobs Destroyed Or Lost

Tyler Durden's picture





 

Pop quiz:

Q. What is the fiscal multiplier on $529 in government stimulus?

A. If you are Fisker Automotive, zero.

While the terminal fate of the federally-subdizied car company was no secret to anyone, there were some questions when this latest example of idiotic government "capital allocation" would get Solyndraed. The answer is now. 

GigaOm reports:

According to several sources, electric car maker Fisker Automotive is planning to lay off many of its employees today. Sources tell me that there is a company meeting at 8AM today where the company will announce this to the employees.

 

I’ve also heard that law firm Outten & Golden has been looking into initiating a class action law suit to represent Fisker’s employees should Fisker fall into bankruptcy. The firm is looking into whether Fisker (like Solyndra) will or already has violated the WARN act.

 

The news follows reports that Fisker has hired a law firm to advise it on bankruptcy options. It owes a loan repayment to the Department of Energy this month, and has been cutting costs and furloughed its employees last month. The company hasn’t made a car since the summer of 2012.

...

Fisker was founded in 2007 and has raised over a billion dollars from venture capitalists like Kleiner Perkins, NEA and others, as well as wealthy individuals organized by now defunct broke Advanced Equities. Fisker also received part of a loan from the Department of Energy.

Perhaps the employees of the taxpayer-funded company can also sue the taxpayers for being dumb enough to have loaned cash to Fisker in the first place, instead of investing in other projects that actually have an IRR>0%. Oh wait: this is government "investing" where a 0% return is actually a good thing.

Oh well: time for the administration to spend a few more hundred million in another dead-end company just to purchase a few hundred votes for the next electoral cycle.

 


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Fri, 04/05/2013 - 11:45 | Link to Comment Bearwagon
Bearwagon's picture

Why haven't they built an electric choomwagon? All would be well ...

Fri, 04/05/2013 - 11:47 | Link to Comment TeamDepends
TeamDepends's picture

DIY.  The government will give you bales of cash.

Fri, 04/05/2013 - 11:52 | Link to Comment DJ Happy Ending
DJ Happy Ending's picture

This is the republicrat way. Get used to it.

Fri, 04/05/2013 - 12:22 | Link to Comment knukles
knukles's picture

The reason that Fisker has had to stop producing electric cars is that the price of gasoline has gone up because too many people stopped driving.
            -Paul Krugman

 

and with that I think I'm gonna go play with myself

Fri, 04/05/2013 - 12:25 | Link to Comment pods
pods's picture

Since I can read your tiny writing without glasses does that mean I don't have to stop yet?

pods

Fri, 04/05/2013 - 13:45 | Link to Comment TerminalDebt
TerminalDebt's picture

They stopped producing electricity cars because the cost of producing batteries increase as oil increases. Who would have known that the cost of everything is based on the price of oil?

Fri, 04/05/2013 - 16:18 | Link to Comment eatthebanksters
eatthebanksters's picture

Knukles you always have good shit that gives me a laugh...that Krugman 'quote' is priceless!

Fri, 04/05/2013 - 17:08 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris

Fri, 04/05/2013 - 19:21 | Link to Comment StychoKiller
StychoKiller's picture

Boris is smart of brains! :>D

Fri, 04/05/2013 - 20:04 | Link to Comment smlbizman
smlbizman's picture

hang in their boys...we still have tesla....another genius succeeding  on his own....

Fri, 04/05/2013 - 21:38 | Link to Comment CaptainObvious
CaptainObvious's picture

Ohhhh.  And here I was thinking that they stopped producing electric cars because the batteries blew up and burned down the houses of the car owners. 

Fri, 04/05/2013 - 12:31 | Link to Comment TeamDepends
TeamDepends's picture

Do it soon before the Self Pleasure Tax kicks in....

Fri, 04/05/2013 - 13:14 | Link to Comment TeamDepends
TeamDepends's picture

"Fisking" will be exempt.

Fri, 04/05/2013 - 17:14 | Link to Comment James-Morrison
James-Morrison's picture

Nothing Runs... Like a Fisker

Fri, 04/05/2013 - 11:48 | Link to Comment asscannon101
asscannon101's picture

I am very intrigued by your theories and I would like to sign up for your weekly newsletter...

Fri, 04/05/2013 - 11:50 | Link to Comment Chuck Norris
Chuck Norris's picture

They did build the first car to burn underwater.

Got to give them props for that.

Fri, 04/05/2013 - 12:00 | Link to Comment TeamDepends
TeamDepends's picture

You were kick-ass in that Ranger show.  You should go do that in D.C!

Fri, 04/05/2013 - 11:49 | Link to Comment House-of-Cards
House-of-Cards's picture

"Electric Choomwagon"

 

Aren't those called Vaporizers?

Fri, 04/05/2013 - 11:52 | Link to Comment ebworthen
ebworthen's picture

That's it!

THC laden electronic joints, no real smoke or flame, just choom vapor!

Chargers built into the armrests, vapor drops and cartridges taxed to subsidize QE.

Break a window!

Fri, 04/05/2013 - 12:00 | Link to Comment McMolotov
McMolotov's picture

http://www.hempcar.org/

You put your weed in there, man.

Fri, 04/05/2013 - 12:05 | Link to Comment ghostfaceinvestah
ghostfaceinvestah's picture

This is classic

http://www.reuters.com/article/2013/04/05/us-autos-fisker-layoffs-idUSBRE9340LW20130405

 


Fisker Automotive, the struggling hybrid sports car maker, terminated most of its rank-and-file employees at a Friday morning meeting at its Anaheim, California, headquarters, according to a source who attended the meeting.

 

About 160 employees are affected, the source said.

Fisker will retain about 53 senior managers and executives, the source said, primarily to pursue buyers for the company's assets.

The remaining Fisker executives also are continuing negotiations with the U.S. Department of Energy, the source said. The company hopes to renegotiate a DOE loan payment that is due on April 22.

Fri, 04/05/2013 - 12:25 | Link to Comment ebworthen
ebworthen's picture

53 senior managers and executives!?!?

That's enough for 20 or more small car companies!

What, did they come to Fisker from GM?  Or was it Solyndra?

Fri, 04/05/2013 - 12:58 | Link to Comment Freddie
Freddie's picture

I remember many years ago reading DeLorean's book or something about the endless layers of management at GM during their 1960s heydey.   Fisker takes the cake.  About 2.5 employees for every senior manager and exec. 

LOL! Hope & Change Motors.   And f*** Elon Musk at Tesla too. 

Fri, 04/05/2013 - 18:11 | Link to Comment Freddie
Freddie's picture

These CS'ers are so corrupt.  Another Calliefornia fraud Dem company.   The employees want to sue.  LOL! Were they UAW or Electrical Workers Union of Amerika?

Fisker Karma - as in bad f**king karma.

Is this that fake con artist Elon Musk who O handed NASA too?  No he has the Tesla POS.   At least the Fisker was better looking than Tesla's shitboxes. 

I will laugh my arse off for all the libturds who bought these Fisker's which will now be worthless. I smell an Obam the muslim bailout coming. 

Fri, 04/05/2013 - 13:26 | Link to Comment DawgAss
DawgAss's picture

It's a good thing they layed off the $10.00 hr employes so the "53 senior managers and executives" can divie up the payroll savings!

Fri, 04/05/2013 - 16:35 | Link to Comment RafterManFMJ
RafterManFMJ's picture

You know, I'm willing to fail and only burn 100 million dollars; can you imagine how many others can also fail if we kept our failures in the 100 million dollar range? Maths show that if we had enough 100 million dollar failures at a savings rate of 400 million per, those savings would easily pile up and end the deficit.

Fri, 04/05/2013 - 17:13 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

If break window good for local economy, break all window.

Fri, 04/05/2013 - 12:08 | Link to Comment NEOSERF
NEOSERF's picture

Electric Paddywagons would be a good idea

Fri, 04/05/2013 - 12:26 | Link to Comment Freddie
Freddie's picture

F---ing Dems, O, Silyconning Valley and Calliepornia - so corrupt and evil.  Totally protected by their friends in TV and Hollywood. F them! 

And no - I loathe the Bush klan who are like the Kennedys and Clintons and the other NWO/CFR/Goldman scum. 

Rand Paul, maybe Ted Cruz and a few others are decent but name one decent Dem. 

Fri, 04/05/2013 - 13:11 | Link to Comment robobbob
robobbob's picture

kucinich? wrong, but exceedingly honest. that would be a huge leap over whats going on now.

Fri, 04/05/2013 - 13:26 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

Kucinich and Bernie Sanders are probably the only two I can think of; Dennis is barely tolerated and no longer in office (they "redistricted" him) and Bernie isn't even in the party.  I don't know that I can really think of substantially more R's.

While I disagree with Dennis and Bernie regarding their governmental philosophy, they are against the banksters, and that's way more than I can say for most people on either side.

Fri, 04/05/2013 - 18:28 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris is like Ralph Nader. But need good haircut.

Fri, 04/05/2013 - 11:47 | Link to Comment Winston Churchill
Winston Churchill's picture

Gone down in flames ,a little like their products.

Fri, 04/05/2013 - 11:46 | Link to Comment BandGap
BandGap's picture

I could use one of those loans. I'm as good at doing nothing/producing nothing as the next guy. Just sayin'. Is there a sign up sheet or sumptin?

Fri, 04/05/2013 - 11:53 | Link to Comment Go Tribe
Go Tribe's picture

Your skills are not sufficient to qualify for the loan. You have to be good at LOSING MONEY.

Fri, 04/05/2013 - 12:03 | Link to Comment BandGap
BandGap's picture

Shit, my ex-wife would be good to have right now....

Fri, 04/05/2013 - 12:53 | Link to Comment Harbanger
Harbanger's picture

We're not losing too much, 529 Million is not even 1% of the 85 Billion we produce every month.

Fri, 04/05/2013 - 11:47 | Link to Comment asscannon101
asscannon101's picture

'They took err' JOBS!!'

Fri, 04/05/2013 - 11:48 | Link to Comment GeezerGeek
GeezerGeek's picture

I suppose it is okay, as long as the bigwigs at Fisker got their inflated salaries and bonuses and remembered to donate to the proper political entities.

The Feds could have saved a lot of effort by just giving me the half billion. I, at least, would still have a little left.

Fri, 04/05/2013 - 11:48 | Link to Comment paddy0761
paddy0761's picture

It's not about buying votes. It's about lining pockets. Follow the money.

Fri, 04/05/2013 - 11:55 | Link to Comment McMolotov
McMolotov's picture

Oh, come on. They were just trying to save the world, for the children or bunnies or something. And it's the thought that counts.

Fri, 04/05/2013 - 12:04 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Bullshit, buying votes is essential to changing laws and avoiding prosecution.

Fri, 04/05/2013 - 12:49 | Link to Comment Bearwagon
Bearwagon's picture

I'd say LoP is right, because, if you indeed follow the money, it always leads you to where the power is. Money flows to power, not the other way around ...

Fri, 04/05/2013 - 11:48 | Link to Comment Cursive
Cursive's picture

Amerika:  Formerly the Land of the Free and the Brave

Fri, 04/05/2013 - 11:49 | Link to Comment suteibu
suteibu's picture

Haven't made a car in 9 months.  That's some business model.  No worries, though, the execs will resurface as Obama bundlers for his 2016 presidential election campaign.

Fri, 04/05/2013 - 12:57 | Link to Comment Urban Redneck
Urban Redneck's picture

If they haven't made a car in NINE MONTHS then what the fuck they been paying those 160 employees to do every day that they weren't furloughed for the last NINE MONTHS with taxpayer dollars?

Clawbacks are in order, for everyone, from the janitor to the CEO, to that stupid DoE physicist who sucks at math (despite the Krugman-like Nobel award from his peers) who signed off on this theft.

Fri, 04/05/2013 - 16:39 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Clawbacks? lol, isn't he so damn precocious? You're cute! Yes you are! I got your nose!

Fri, 04/05/2013 - 11:49 | Link to Comment Yen Cross
Fri, 04/05/2013 - 11:50 | Link to Comment suteibu
suteibu's picture

They must have been using the Boeing battery.

Fri, 04/05/2013 - 12:14 | Link to Comment Matt
Matt's picture

They were both using Lithium Ion batteries (likely Lithium Cobalt Oxide) so while they may or may not be from the same manufacturer, they are the same type of battery prone to burst into flames.

This was a big issue with RC toys ~5 years ago. Then they came up with safer batteries. Funny that corporations making airplanes and cars wouldn't check with the hobby industry to see the challenges and solutions involved in making things run on batteries.

Fri, 04/05/2013 - 12:48 | Link to Comment cougar_w
cougar_w's picture

This has 15,000 miles on it and never once caught fire:

http://madscienceunlimited.com/blackbird.jpg

Making a bigger and faster one right now. See it at the MakersFaire in San Mateo, CA the weekend of May 18th.

Fri, 04/05/2013 - 13:12 | Link to Comment prains
prains's picture

a couple of 50 .cal strapped to it and it's Mad Max 2013 brother

Fri, 04/05/2013 - 14:28 | Link to Comment cougar_w
cougar_w's picture

Last Halloween I made a fake .50 BMG (really convincing wish I had a picture) and bolted it to the back on a stand. Got some looks let me tell you, I still run it out sometimes for the morning commute.

For the new bike my son is making me a 30 cal minigun replica. The barrel manifold rotates on an electric motor. Should be great for clearing traffic.

We have more fun with this shit than is probably prudent. And to answer the obvious question, no I have never been pulled over by the cops. They look me over reeeeeeeeeal close, but then they roll by. You gotta appreciate professionalism like that.

Fri, 04/05/2013 - 14:43 | Link to Comment Matt
Matt's picture

What kind of battery are you using? If you have a link to general specs, that would be nice.

Fri, 04/05/2013 - 16:30 | Link to Comment cougar_w
cougar_w's picture

The machine in the picture is running a 36V 16Ah LiFePo (actually not in the picture because I had pulled it out for charging) but that was too weak so eventully I had it on a bigger 30Ah battery split into "ammo" boxes on the sides, which was excellent. The new bike is going to be 48V 40Ah LiFePo. Should do the trick.

LiFePo is stable and doesn't catch fire ever, but still has the desired crazy-assed charge density of lithium formulations. Perfect for bikes.

I get all my kit here:

goldenmotor.com

That's China. They have a Canadian distributor, I buy from him. FYI, the battery for the new bike cost $1800. I don't even blink, it's worth the price.

Check out this utterly insane rear wheel for the new bike:

http://madscienceunlimited.com/blackbird/thewheel.jpg

Yes it is a truck tire, on a steel rim with the center cut out, and one of two electric motors mounted. It now has another just like that mounted on the other side. The most evil looking thing ever made for a bike, will pull 2000 watts at 48V. Probably gonna be dangerous as hell! :D

Alon Musk got nuthin on me.

Fri, 04/05/2013 - 23:31 | Link to Comment Matt
Matt's picture

Might need to add a wheelie bar, to keep it from flipping right over when you get started on dry asphalt.

Fri, 04/05/2013 - 14:44 | Link to Comment House-of-Cards
House-of-Cards's picture

Cougar:

Is that a Burning Man festival bicycle?

Fri, 04/05/2013 - 16:28 | Link to Comment cougar_w
cougar_w's picture

That is my daily driver. 60 miles round-trip at one point. A lot less since the startup I worked for was bought and moved closer to home.

Fri, 04/05/2013 - 18:31 | Link to Comment Yen Cross
Yen Cross's picture

      That thing has Sturgis written all over it...

Fri, 04/05/2013 - 11:51 | Link to Comment azzhatter
azzhatter's picture

Jeff Spicoli- I can fix it

Fri, 04/05/2013 - 13:46 | Link to Comment prains
prains's picture

 A picture tells a thousand words.

 

and the first two are; "holy shit"

Fri, 04/05/2013 - 12:37 | Link to Comment angel_of_joy
angel_of_joy's picture

The opposite of a Bond car ?

I wonder what the opposite of a Bond girl would look like...

Fri, 04/05/2013 - 14:18 | Link to Comment Forty Six and 2
Forty Six and 2's picture

Probably something along these lines (courtesy of WB7)...

 

http://flic.kr/p/dQJShX or

http://flic.kr/p/e7RUki or

http://flic.kr/p/e59L5k

 

 

Fri, 04/05/2013 - 11:49 | Link to Comment azzhatter
azzhatter's picture

Barry is definitely picking winners

Fri, 04/05/2013 - 12:24 | Link to Comment knukles
knukles's picture

I got a nice booger out myself this morning, too!

Fri, 04/05/2013 - 14:42 | Link to Comment forwardho
forwardho's picture

Bet it didn't cost us ONLY 193 million.

Fri, 04/05/2013 - 11:51 | Link to Comment El Oregonian
El Oregonian's picture

How many Solyinders did those Fisker vehicles have?

Fri, 04/05/2013 - 11:59 | Link to Comment Anglo Hondo
Anglo Hondo's picture

I see what you did there!

 

Fri, 04/05/2013 - 11:54 | Link to Comment LawsofPhysics
LawsofPhysics's picture

First of all, "funding" or "money" is not the same thing as capital or collateral.  You need all kinds of real fucking capitial (i.e. energy, other resources, skilled labor, infrastructure etc.) to actually get anything accomplished.

This (intentional) confusion of the meaning of capital and the growing acceptance of debt (with no real collateral), and the lack of any real consequences for bad behavior at the top is the fucking problem.

A banker presses a few buttons, adds a few zeros, and you, your children, and your grandchildren (50+ 100+ year mortgages) all serve them for life by paying the interest/fees.  Do these same fucker protect your savings?  Hell no, they steal that too while living high on the hog, they they buy your "representation" and change the laws so they can't be prosecuted.

History is very clear on how this ends, hedge accordingly.

Fri, 04/05/2013 - 11:53 | Link to Comment kito
kito's picture

hey maybe they can use some of those 900 million dollars worth of military stryker parts that are rusting in obsolescence!! win win for our esteemed politburo!!......................

 

http://www.mcclatchydc.com/2013/03/31/187297/dod-inspector-general-finds...

Fri, 04/05/2013 - 11:54 | Link to Comment FieldingMellish
FieldingMellish's picture

As always, the government proves to be a less efficient allocator of capital than a drunken sailor.

Fri, 04/05/2013 - 12:19 | Link to Comment bigfire
bigfire's picture

The difference being that when the drunken sailor ran out of money, he stop drinking.  The Federal money have no such constraint.

Fri, 04/05/2013 - 12:40 | Link to Comment caribbeanbarry
caribbeanbarry's picture

At least we drinker sailors spend it on hookers and liquor.

Fri, 04/05/2013 - 13:12 | Link to Comment TexasAggie
TexasAggie's picture

And you get the clap and a hangover.  Which is best?

Fri, 04/05/2013 - 11:56 | Link to Comment BandGap
BandGap's picture

I live in West Michigan. We have a lithium ion battery facility (LG) that got shitloads of money from Oblamma. They have not made a saleable battery EVER, and have stopped producing experimental ones SINCE JULY OF 2012. Get set for another one of these "revelations" soon.

Fri, 04/05/2013 - 12:32 | Link to Comment Almost Solvent
Almost Solvent's picture

 

GM is closing their fuel cell plant here in upstate NY and relocating all 220 jobs to Michigan. The federal government had just invested a few hundred million in the NY plant not too long ago.

http://www.whec.com/news/stories/s2790586.shtml

Fri, 04/05/2013 - 11:55 | Link to Comment patb
patb's picture

http://en.wikipedia.org/wiki/Fisker_Automotive#U.S._government_loan

 

the feds only released 193 million of the loan,  facts matter

Fri, 04/05/2013 - 12:01 | Link to Comment ghostfaceinvestah
ghostfaceinvestah's picture

Interesting connection to Ray Lane, wasn't he just in the news for something....

Fri, 04/05/2013 - 12:35 | Link to Comment HF Critic
HF Critic's picture

Nice catch!

 

Fri, 04/05/2013 - 12:03 | Link to Comment McMolotov
McMolotov's picture

Cool, so we only got anal raped a little bit.

Fri, 04/05/2013 - 12:20 | Link to Comment dark pools of soros
dark pools of soros's picture
if they just woulda spent moar!
Fri, 04/05/2013 - 12:32 | Link to Comment knukles
knukles's picture

DON'T FUCKING SAY THAT!

One of my golf buds is a died in the wool neo-Keynesian who thinks Krugman walks on water and that's his prescription to everything.

Spend Moar!

Drives me Nuts!
Everything is political, including the weather.
He's a great guy... just misdirected and misinformed

Full disclosure:  And today I got a game with 2 neo-cons who think that the Republican Party in its current configuration ex the Tea-Party wing is the only way to go.  Just don't be Arab, unwed single mother, black, Mexican, poor, unemployed, Ron Paul (Commie) whatevrethefuck.  You're a free person as long as you meet their standards.

Why can't people wake up?
They all think I'm crazy.
So be it.

 

Fri, 04/05/2013 - 12:42 | Link to Comment Freddie
Freddie's picture

F that!  I usually go late in the day and play by myself.   I cannot stand listening to retards or smokers while playing.  Thanks to O - my playing is now slim and none.   If you waste your life hanging around some arsehole who likes Krugman then you sound a bit like a tard.

Fri, 04/05/2013 - 13:14 | Link to Comment shovelhead
shovelhead's picture

I thought you'd be home watching TV...

Fri, 04/05/2013 - 13:48 | Link to Comment prains
prains's picture

fuck i'd love to golf but the snow is two fucking feet deep still, but when the phones go dead I'll be the fucker with the head start

 

bwwwaaaaaaahhhaaaaaahaaa

 

fuck it's cold

Fri, 04/05/2013 - 12:21 | Link to Comment Blano
Blano's picture

Oh thank God it was only 193 million.  I feel so much better about it.

Fri, 04/05/2013 - 12:03 | Link to Comment earleflorida
earleflorida's picture

while 'fisker burns', Elon will be the next Rocket`feller and Morgan`ite,  all wrapped up in one trillion dollar bills-- the Edison [GE] and Tesla [Westinghouse] financial genius/guru of the 21st Century.

cna't wait for refueling ports, along with stations for battery swap-outs!

all this without one fucking cent from uncle sam!!!    

Fri, 04/05/2013 - 12:10 | Link to Comment otto skorzeny
otto skorzeny's picture

you can swap your battery right next to the NG filling station

Fri, 04/05/2013 - 12:40 | Link to Comment Paul E. Math
Paul E. Math's picture

I believe the government guaranteed several hundred million in loans.  That's not nothing.  Youl will learn this within the year when Tesla is unable to pull an accounting gimmick to make itself profitable.

Tell me, btw, why did Tesla suddenly stop publicizing the size of its waiting list?  And why won't they tell us how many cancellations they are experiencing?  And why would they need to resort to leasing if they have such an infinite backlog?

Those whom the Gods would destroy they first made great.  Elon is a pretty smart guy but far from infallible and we shall soon see demonstrated in wild, flaming failure.

P

Fri, 04/05/2013 - 12:47 | Link to Comment Freddie
Freddie's picture

Elon Musk is another crooked douche bag suckling on the O govt teet.   His shitbox Tesla's go for about $65,000 to 82,000.  He is another f***tard crook.

I have seen a few Fisker's around.  They look nice but the buyers are well and truly f***ed-ed unless O bails them out.  I bet they all get vouchers for a Tesla or that GM Elec shitbox.

Fri, 04/05/2013 - 12:01 | Link to Comment Richard Head
Richard Head's picture

Where is Justin Bieber gonna go to get his Karma serviced?

Fri, 04/05/2013 - 12:32 | Link to Comment knukles
knukles's picture

Talk about someone in need of an anal probe...

Fri, 04/05/2013 - 14:32 | Link to Comment forwardho
forwardho's picture

Pretty sure that has already been taken care of.

Fri, 04/05/2013 - 12:08 | Link to Comment PAWNMAN
PAWNMAN's picture

A good friend of mine is employed by Fisker. He just spent the last 4 months in Belgium doing....something? Saw a lot of pics of him snowboarding the Alps on Facebook. I'm sure it was a profitable endeavor . Forwarded him the article before I read it. Just received a text hes been laid off.

Fri, 04/05/2013 - 12:13 | Link to Comment dark pools of soros
dark pools of soros's picture

his expense card still workin?

Fri, 04/05/2013 - 12:17 | Link to Comment DrDinkus
DrDinkus's picture

haha...this sht would be hysterical if not so sad. imagine what this country could do with a functioning electorate.

Fri, 04/05/2013 - 12:50 | Link to Comment Bear
Bear's picture

Just think what it would be with a functioning Media

It's 1984, bring on the rats

Fri, 04/05/2013 - 12:21 | Link to Comment Seasmoke
Seasmoke's picture

Fridays are a bad day to go to work. Always bad news told on Fridays.

Fri, 04/05/2013 - 12:33 | Link to Comment knukles
knukles's picture

And presdiential directives/orders....

Fri, 04/05/2013 - 16:20 | Link to Comment eatthebanksters
eatthebanksters's picture

move to France....they don't work on Fridays...come to think of it they don't work any days...

Fri, 04/05/2013 - 12:30 | Link to Comment orangegeek
orangegeek's picture

Another government fuck up.

 

Thanks Barry.

Fri, 04/05/2013 - 12:31 | Link to Comment Bear
Bear's picture

I would be very happy with a zero return on any .gov venture.

Fri, 04/05/2013 - 12:36 | Link to Comment IamtheREALmario
IamtheREALmario's picture

Hmmm ...

a) I do not have any problem with the US government investing in new technology for the masses as long as it is a reasonable deal and the people are not super-subordinate. I would much rather they do that than start more wars and hire more TSA-bots. Put people to work in something that has a future, if only an unfortunately distant one.

b) ... and Tesla reported its first profit. If it is a REAL profit and not a Wall Street engineered artificial profit, then good for them. Clone it and invest in it.

Fri, 04/05/2013 - 12:44 | Link to Comment moonman
moonman's picture

 

Hurricane Sandy Destroys 300 Karmas

The company suffered a setback on October 29, 2012 when Hurricane Sandy flooded and destroyed its entire European shipment of 300 Karmas at Port Newark, New Jersey. Sixteen of the cars burned, because six to eight feet of seawater caused a short circuit in a Vehicle Control Unit in one Karma, and high winds spread the resulting fire to fifteen others. The company said that its Lithium Ion battery was not at fault.

Insurance assertedly covers the approximately $30 million loss in destroyed Karmas

 

 

 

Fri, 04/05/2013 - 12:48 | Link to Comment Frank N. Beans
Frank N. Beans's picture

saw my first fiskar yesterday

they make scissors too

 edit: by the way, remember the tucker?

Fri, 04/05/2013 - 13:16 | Link to Comment Clowns on Acid
Clowns on Acid's picture

Whats the problem? This is the way that ledt wing facsism works...didn't you get the memo from Barry the Kenyan ?

Oh...wait a minute ...you were not a fundraiser with a  Chicago connection.

Fri, 04/05/2013 - 13:19 | Link to Comment shovelhead
shovelhead's picture

The scissors are really very good.

They don't burn up when you put them down.

Fri, 04/05/2013 - 13:18 | Link to Comment shovelhead
shovelhead's picture

dup

Fri, 04/05/2013 - 13:24 | Link to Comment Bagbalm
Bagbalm's picture

But if they really, really wanted the electric cars to work they should have. Did they try closing their eyes and clicking their heels?

 

Fri, 04/05/2013 - 13:26 | Link to Comment Father Lucifer
Father Lucifer's picture

Cars that run on batteries should be no bigger then 1/20 scale.

Fri, 04/05/2013 - 13:32 | Link to Comment Van Halen
Van Halen's picture

This is another great example of the Left dragging the US taxpayer kicking and screaming into a "green" future.

Remember folks, there are about 3000 of them running 320 million of us. This isn't working. We should be marching this summer.

Fri, 04/05/2013 - 16:57 | Link to Comment blunderdog
blunderdog's picture

There is no "the Left," and if there were, it wouldn't be dragging anyone anywhere.

Bad government does not lie on either side of a left/right scale.

Fri, 04/05/2013 - 13:39 | Link to Comment eclectic syncretist
eclectic syncretist's picture

If you print it, they will end up bankrupt!

Fri, 04/05/2013 - 13:41 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

$529 million?  Hell, you can find that much by shaking down a couch.....

Fri, 04/05/2013 - 14:17 | Link to Comment Bastiat
Bastiat's picture

You mean a senator's couch.

Fri, 04/05/2013 - 14:03 | Link to Comment flacorps
flacorps's picture

I bet a company making restomodded '78 Cadillac Eldorados running turbine engines on coal dust could be a rousing success. But not a favorite of the Obama administration.

http://www.thetruthaboutcars.com/2010/10/gms-own-turbine-car-program/

Fri, 04/05/2013 - 14:48 | Link to Comment TrustbutVerify
TrustbutVerify's picture

$529 or $529 million.

Fri, 04/05/2013 - 16:56 | Link to Comment blunderdog
blunderdog's picture

ZERO?  In a case like this, zero would be GOOD.

The fiscal multiplier here is fucking NEGATIVE.

Fri, 04/05/2013 - 17:44 | Link to Comment Powder
Powder's picture

As soon as I saw Ashton Kutcher driving one on Two and a Half Douchebags, I knew they were doomed. 

Fri, 04/05/2013 - 22:49 | Link to Comment blunderdog
blunderdog's picture

Man, THAT guy. 

I'm so conflicted whether to cackle with glee or hatred now that Demi's trying to squeeze him for some bucks...

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