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-- oil companies -- century.
That's long enough.
It's time to end the taxpayer giveaways to -- -- it's -- that rarely been more profitable.
-- more promising.
Wow well why -- promoting capitalism segment was president of -- refer to clean energy companies perhaps likes -- skirt.
The electric carmaker announcing it is stopping work at a former GM plant in Delaware.
Laying off 26 workers because it's run out of government loan money we don't have any more.
So for the company is in heart attacks -- already.
Million dollars and yet amazing -- It is negotiating for 336.
Is this what the administration means by doubling down on good solid.
Well paying Green energy.
Areas where the national legal and policy center you know I think of that old phrase from the 1950s have you no shame let.
-- -- -- they no shame asking for more money asking to double down -- that are going bad it seems insane does the president really think you can run on this.
The that they were actually awarded of the full 529.
Million dollars alone in the first a 193 million that they've already received.
-- to produce the karma which is a sports car which retails for over a 100000 dollars.
And being produced in Finland.
There that they didn't what happened was the company missed their mark in didn't get -- karma is out and times are now there -- little scared.
This this plant in Delaware that where they're laying off 26 people -- refurbishing a former GM plant.
And now they're saying was -- refurbishing the plant.
Because we're not sure we're going to be able to go through with the all the American jobs we thought we -- -- today so that's that's really the scary part well by the way that that the place -- -- -- Is a subsidiary it's not exactly fits your buddy again it's it's people that they have virus sub sub contractors to do that but that that the project in Delaware's a one I wanna talk about because.
The -- project.
Was supposed to be great it was supposed to be a middle class -- not one for just the rich people because that was nuts.
Using taxpayer money to it to fund somebody was terrific but this is positive middle class but that -- is a 50000.
The volt the Chevy Volt doesn't sell it's supposed to sell our 101000 cars -- and -- that they sold 7000.
And that's just got costs 40000 -- this cost 101000 more and they say they're gonna sell a 100000 cars I mean there.
These these figures are in the fantasy land.
Well exactly and and the and car model was the 193.
Million was supposed to produce the karma to get the karma out of the market here and in the United States they have.
Something like 600 employees in California working on R&D for that.
And so that so that is a sports car that is giving us money for so you know are subsidized outlet like you said India that Nina is getting fit is.
50000 dollars a vehicle.
The volt the average customer of the -- earned a 170000 dollars.
On average that this is a subsidy for wealthy -- straw purchasers of vehicles.
Who want a third or fourth toy car to play live on the side right either whether it's the need or the more expense -- obviously by the way -- you know DiCaprio and a lot of a lot of people a lot of -- -- very faster karma that's right -- the first car -- and other wealthy people again.
Your tax dollars folks are going to subsidize rich people.
Buying 100000 dollar -- But I do evident no one of the private investors because there is still 600 million dollars in private money that is going to -- -- Toby Smith who's who's been on this program many time.
He's a good guys -- savvy investor he saw something in sister.
And here's what he said earlier I guess was back in October about why he still believed in the sister model has played the tape -- -- -- -- response.
This is a company that has 3000 of their cars pre -- they have deposits they're going to be a company that's gonna go a billion dollars in sales in 2012 the fastest growth company in the history of commerce the United States.
Selling at a profit every one of those Garcia 47 dealerships they have several hundred new jobs that that deal we loan circuit.
Our right now obviously Tobey was selling his book there but he's a good salesman I was listening I was skeptical but I was listening.
Are these private investors gonna pull out now are they gonna stick would.
Well who -- that's not my end of the game I'm more focused on the government subsidies but if it's such a good deal shirt let the private investors invest -- -- let them that there financial.
Their finances that risk.
The number I have I saw was a 10850.
Million in and one of the biggest venture capitalists firm in -- here is Kleiner Perkins which has a it's a couple of major.
Supporters of President Obama in a lot of Democrats.
As senior partners surprises are prisoners and other aspects of the crony capitalism there absolutely think it.
One other thing David Wesley and there's another company called a one Q3 systems -- produces the batteries for faster -- threat to recall the karma because of batteries have leaks.
And work and -- could potentially cause fires like the vault similar to the -- problems and eight Q1 Q3 because of their relationship with this there had to lay off 125 people in December what what will now have to happen if -- those folks would that company -- drugs -- -- -- direction that's for sure Paul -- good to see a Paul thanks for key.
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