By now, you have all heard about how bad the jobs picture is, or should I call it the no-jobs picture. We have lost another 300,000 from the work force, more than 90 million Americans are not working, and it has been 35 years since we have had so few looking for jobs. You will be happy to know however, that we have only lost 42 million dollars on one of Obama’s green car ventures. Heck, it could have been 50 million.
The $50 million was loaned to the Michigan-based green car company, Vehicle Production Group or VPG, and they haven’t produced a thing since May. They made wheelchair accessible green vehicles – obviously not very many of them. They were called purpose-built vehicles. Cool, huh?
The company went up for auction when no one was foolish enough to buy it and $45 million dollars of the US taxpayers’ investment went for $3 million to AM General who were building the cars under contract. [I smell a rat here]
VPG still has 3 employees.
The Energy Department’s Advanced Technology Vehicles Manufacturing program loaned them $50 million. It was a financing scheme which happened to benefit some Obama fundraisers. Nissan, Tesla, Ford, and Fisker also received $50 million in loans under this deal.
Read More: http://www.independentsentinel.com/