Much has been made of Tesla’s repayment of its DOE loan. There has been much crowing. Finally a DOE loan which didn’t implode into a black hole. And we are very happy that the loan has been paid back, and ahead of schedule.
Everyone wants a piece of the taxpayer funded pie. The inventor of “The Whisper,” an inflatable car is no different. When billions were handed out from the Obama administration for “green” vehicles in the Whisper project (now updated as an SUV) was not picked up for funding. Now the inventor is miffed.
The average annual household income for those who live in the Washington DC area is $86,680. And this is factoring some of the “less wealthy” counties of the region too. Loudoun County, just to my north averages over $120,000/household/year. It’s the wealthiest county in the United States largely because it is filled to the brim with government employees and military contractors. In years past one would have expected the wealthiest areas of the country to be populated by captains of industry, but no longer. Government is the route to riches for more and more people these days
I am a big fan of used cars generally. I just can’t bring myself to buy a new one given the immediate depreciation which occurs once I wave goodbye to the salesman. It’s just too painful for me. I prefer to buy my cars used.
Toyota just paid $1.1 billion to settle lawsuits alleging random acceleration problems in its cars. The allegations were, and are essentially false. But, Toyota paid out because it knew it had to, to move on. A giant speeding ticket to the government. (And Toyota wasn’t even speeding.)
Peter Schweizer reports in the Washington Times, that as bad as many believe the auto bailout was, it is likely worse than they imagine.
The above was in the comments section of the attached article below. I thought it captured things with GM nicely. GM is Government Motors and that is shameful.
In 2009 GM was given to the unions that pushed it to the brink and then over. GM is the company that makes (made?) the Volt, each one with over $250,000 in subsidies. That’s a quarter of a million dollars in each car. A quarter million of your dollars.
Additionally as the attached article explains, it’s not like GM has paid the taxpayer back. This is often cited as a fact, but it apparently is not a fact, as the article explains.
Good news everyone. GM, despite its stock being off by over 25% since its 2011 IPO has decided to take a 7% stake in Peugeot, possibly the world’s worst car company.
Yes, Government Motors of America and Government Motors of France are teaming up to build what I am sure will be just fantastic cars.
I am all for alternative fuels. I like wind. I love solar. I am for electric cars. But I am deeply against the subsidization of these things.
The Chevy Volt is the embodiment of heavy-handed government. Between the $7500 tax credit one receives upon the purchase of the car and the additional $250,000 of hidden subsidies in each new Volt, I have come to loathe the vehicles.