President Obama announced the nomination of Anthony Foxx, the current mayor of Charlotte, North Carolina, as his choice to succeed Ray LaHood as the next head of the Department of Transportation.
Congressional Republicans blasted current and former Fisker executives, as well as an official from the Department of Energy over missed milestones for their Department of Energy loans, which saw the company repeatedly fail to meet obligations while continuing to receive taxpayer money.
The U.S. government has managed to recover $21 million in cash from Fisker, funds that will go towards repaying the nearly $200 million its received from the government in the form of loans.
PrivCo, a private corporate intelligence firm, has published a 20+ page dossier on Fisker’s seemingly strong ability to fundraise for itself, while failing to do a good job of actually creating cars. With Fisker teetering on the verge of bankruptcy, the results are staggering; with just under 2000 units sold, Fisker burned through an estimated $1.3 billion in venture capital, taxpayer-funded loans and private investor funds.
So on Thursday, the
crazy drunk uncle career politician who currently sits a mere heartbeat from the big desk in the oddly- shaped office without any corners went on MSNBC and said this:
It’s used to be, Joe, we were dealing almost exclusively with hunters. … There’s a whole new sort of group of individuals who, I don’t what the numbers are, that never hunt at all, but they own guns for one of two reasons: Self-protection, or, they just like the feel of that AR-15 at the range. They like the way it feels. They just, you know, it’s like driving a Ferrari, you know. So, my impression is, there’s not the same sort of cultural norm about gun ownership with a lot of people who are buying guns now.
Now we could (and probably will) get deep into the weeds in the comments section going back and forth about the nature of the 2nd Amendment in the 21st century and just how frightening it is that a man like Joe Biden could one day have his fingers on ”The Button,” but I’d rather focus on the sheer brass of the VPOTUS and the underlying elitist mentality that shapes his world view. (Read More…)
A U.S. House of Represenatives subcommittee meeting became a forum for Ford to advocate on behalf of harmonized vehicle standards, as the US and EU continue to discuss a possible free trade deal.
California Congressman Darrell Issa wants to investigate the Department of Energy’s loans to nearly-bankrupt Fisker after the company laid off most of its employees and retained bankruptcy lawyers last week.
“The only way to break this cycle of spiking gas prices — the only way to break that cycle for good — is to shift our cars entirely, our cars and trucks, off oil,”
So said President Obama during a speech in Illinois, where he outlined a plan to provide $200 million a year for 10 years to a fund that would promote the development of alternative fuel vehicles. The funds would be provided by royalties from oil drilling on the Out Continental Shelf.
Tesla announced plans to pay down their $465 million dollar Department of Energy loan in 5 years or less, as Tesla seeks to achieve profitability.
The U.S. Treasury has begun a sale of its remaining stake in General Motors, with a goal of selling its remaining shares by March 2014. Currently, the government owns more than 300 million shares in the auto maker, equivalent to a 19 percent stake.