Another Obama investment goes bad – loses jobs
After blowing $200 million of taxpayer dollars as part of Obama’s great green hope, electric car make Fiskar balks at building a plant in the US and threatens that if it doesn’t keep getting government funding it will go elsewhere. Another great example of Obama’s “public equity” disasters. Can we afford four more years of economic suicide?
Consider just a few more examples of Obama’s public equity failures from Marc A. Thiessen at Washington Post:
● Raser Technologies. […] $33 million taxpayer-funded grant … company filed for bankruptcy protection in 2012. …
● ECOtality. [..] $126.2 million in taxpayer money […] company has since incurred more than $45 million in losses …
● Nevada Geothermal Power (NGP). […] $98.5 million taxpayer loan guarantee in 2010. […] company is in “financial turmoil” …
● First Solar. [..] more than $3 billion in loan guarantees [ .. ] after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.”
● Abound Solar, Inc. [ .. ] $400 million loan guarantee to [ .. ] company halted production and laid off 180 employees.
● Beacon Power. [ .. ] $43 million loan guarantee. [ .. ] Beacon received a delisting notice from Nasdaq and filed for bankruptcy.
… SunPower got a $1.2 billion loan guarantee … Brightsource got a $1.6 billion loan guarantee … Solyndra …. $535 million in taxpayer-funded loan guarantees and went bankrupt, …
… fully 71 percent [] went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.”
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