The Energy Department conceded Friday that the federal government will lose $42 million on a loan to a shuttered Michigan van manufacturer — part of the same program that provided a $529 million loan to an electric car maker that also has gone under.
Vehicle Production Group (VPG), which made vans for the disabled, ceased operations in February and laid off 100 workers, two years after receiving a $50 million federal loan under the same clean-energy program that provided a $529 million loan to electric car maker Fisker Automotive Inc., according to the Associated Press.
h/t Matthew
I;m less concerned with the trough guzzling these green start-up companies are doing as I am seeing government climb into bed with globalist corporate interests – as in the secret trade pacts they are forging for monopoly protectionism.
http://www.youtube.com/watch?v=p3KlrfjcjV4
Oh come on,people.What’s a few million or hundreds of millions here and there? After all,it’s only tax payer money.
Look! Over there! Syria!
Really, these “loans” are not necessary for a sound business. And they are very large. It is rather obvious that the money is intended for the Democrat Party or for the private pockets of individual Democrats.
600 million flushed down toilet on another useless enterprise!
I’m so sick and tired of this blatant waste while necessities are ignored I mean, do you realize how many gasplants those tax-dollars could have cancelled?