Kaepsknee
New Fish
The administration used close $150 Billion, yes BILLION with a B to invest in Clean Tech. "Loans" were granted to many companies who simply had an idea. But all those companies that failed simply filed bankruptcy and then went to auction for pennies on the $$$
We've all heard about Solyndra which was a $500MM loss but there was also a division of LG which also burned about $500MM in a plant that was built to produce batteries for electric cars that were never purchased. Consequently hundreds of employees were paid months to do nothing.
All the while the only really successful venture to come out of clean tech stimulus is a luxuty car maker, Tesla.
But do take heart America, eventually there were about 6,000 jobs created from this. Nevermind that it wasn't until a Chinese raider came in and snapped up some of these companies for pennies on the dollar. His company here produces auto parts. But part of the deal that this Chinese businessman got, was billions of $$$ of R & D to take back to China for them to use to compete against companies here.
We the taxpayers paid $150BB to create 6,000 jobs and ship Billions worth of R & D to Chinese companies to beat the pants off of us if any of these Clean Tech ventures were to work.
Thoughts from the resident obama gulpers???
oops Link:
http://www.cbsnews.com/news/cleantech-crash-60-minutes/
We've all heard about Solyndra which was a $500MM loss but there was also a division of LG which also burned about $500MM in a plant that was built to produce batteries for electric cars that were never purchased. Consequently hundreds of employees were paid months to do nothing.
All the while the only really successful venture to come out of clean tech stimulus is a luxuty car maker, Tesla.
But do take heart America, eventually there were about 6,000 jobs created from this. Nevermind that it wasn't until a Chinese raider came in and snapped up some of these companies for pennies on the dollar. His company here produces auto parts. But part of the deal that this Chinese businessman got, was billions of $$$ of R & D to take back to China for them to use to compete against companies here.
We the taxpayers paid $150BB to create 6,000 jobs and ship Billions worth of R & D to Chinese companies to beat the pants off of us if any of these Clean Tech ventures were to work.
Thoughts from the resident obama gulpers???
oops Link:
http://www.cbsnews.com/news/cleantech-crash-60-minutes/
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