SFM are you there?
Remember back on January 7th when you said this? About Obama and his waited MILLIONS !!! on green jobs.
1. Posted by SFM January 7, 2012
I have twice driven the Fisker Karma. It is a supberb car and making it first, would have been like debuting the Chevrolet brand with the Corvette. The next Fisker models will be more moderately priced, but the Karma was a stroke of genius. It has captured attention all around the world. Why don't you admit you just you really dislike President Obama and you were looking for insulting things to say, so you chose the loan to Fisker. In point of fact, Fisker has purchased an old plant in Delaware and is only having the Karma assembled in Finland until the new plant is ready. You really should read up before you comment, because your partisanship is showing.
Well here goes another $249.1 MILLION of our federal tax dollars add that to Michigans pitch in for a total of $390 MILLION to another Obama green stimulus company. To the A123 Systems battery company that was supposed to make batteries for your lovely company Fisker.
So how is the battery company doing?
-has laid off 125 employees since receiving $390 million in government subsidies -- but is still handing out big pay raises to company executives.
-the company has laid off 125 employees and had a net loss of $172 million through the first three quarters of 2011
-Yet, this month A123's Compensation Committee approved a $30,000 raise for [Chief Financial Officer David] Prystash just days after Fisker Automotive announced the U.S. Energy Department had cut off what was left of its $528.7 million loan it had previously received."
This month has seen significant pay boosts for other A123 executives, as well:
Robert Johnson, vice president of the energy solutions group, got a 20.7 percent pay increase going from $331,250 to $400,000, while Jason Forcier, vice president of the automotive solutions group, saw his pay increase from $331,250 to $350,000. Prystash's raise was 8.5 percent, going from $350,000 to $380,000.
Why is A123 going under? Because Fisker auto is failing just as I predicted in my January 7th post.
-After failing to meet the milestones required by a loan agreement with the U.S. Department of Energy, Fisker Automotive, a startup making high-end hybrid electric cars, announced this week that it will stop work on a factory in Delaware and lay off 26 people.
-both are operating at a loss and may need to raise more funds to stay out of bankruptcy.
Green Jobs=Taking more of the taxpayers Green $$$