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Leading Bidder for Fisker: China

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    Former McDonald’s USA CEO Edward Rensi on China’s bid for the U.S. automaker.

  • Duration 4:47
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This transcript is automatically generated

That little -- -- start.

That's in the you know -- -- electric car company taxpayers where what at least a 190 million bucks and do well it's for sale.

And -- leading bidders.

China.

It's like China the -- China that's been on acting street US companies could cash in big time with a big.

Too big to refuse McDonald's USA CEO Ed -- he's been warning about this type of nonsense.

He joins me right now at a Chicago.

On they've got that's that preemptive offer here that just -- what this thing is worth it to -- north of three to fifty million.

Probably double what it's worth opt for a reason they want this puppy badly and data -- -- nine.

What do you -- rally.

I look at this and it's just absurd on their -- seventy you know.

You talk about sequester -- -- dropper rain in the Gulf of Mexico you look at China hacking.

All of our intellectual property from our great corporations from the government itself.

And then we turn around governments subsidize a car company based on.

Technology that yet to have its its day in China wants to walk in and buyout that company after -- subject.

They're taking our US aid tax dollars that built that company and converted into an asset in China it will put an end up buying us car.

Are you had any -- I think I don't doubt it is of course all of these auto bailouts and some of these subsidies for green energy in the like we're all predicated on a belief.

The jobs are American they stay in America now it's like we spent all of this money gets up and up its -- and running.

And the Chinese by the very country that we were competing -- to challenge and in this area.

We get him you know dressed up and running -- -- that has those firing on all cylinders here but but.

China -- -- thank you very much and we'll just take it.

Yet why don't we need an electronic sports car anyway with coats leather interiors I mean it's and saying.

-- you know we laid off according to people in Delaware because we wouldn't given the balance of the 500 million thank god somebody had some sense.

But -- -- -- this day after day after day after day.

We need a level playing don't look I -- China and we wanted to add on that time I don't wanna job I got from that head on our audit careful.

What one -- arguments for doing what the administration did and for Barack Obama doing what he did to get money to this industry was China's doing it.

-- on steroids and we have to respond or China's gonna own this technology all -- this market.

What did you think of that strategy and obviously boomerang in this case it and ultimately proves it -- falls into.

Beijing's arms but what do you make of that that we have to compete with giant food and a buyout this holds ago.

-- -- United States and our government should not be making choices.

About what companies and technologies will -- will not succeed.

Do basic fundamental research and leave that that a private sector to do applied research we're just paying them.

The benefit of our research and it's craziness it's a bad failed policy it will not -- government.

Get out pick and winners and losers.

Well them when the administration comes back -- says we've been picking -- subsidizing established winners for years like the oil giants.

Would you take away.

There are benefits there breaks.

I you know I don't -- -- I don't even really understand why we don't put.

Money into research for energy that has practical application.

If we look at the fracking process let's -- -- that's who we -- pull the natural -- gas on the ground intelligently and protect the environment.

You know that's practical useful applied research these far reaching things like -- it wind turbines -- electric batteries.

You know that they did big New York Post said in 190 wait.

Then electric cars here to -- its quiet -- vision that makes no smoke there -- still waiting 200 years later it's craziness.

I think you're on the little I think you're -- and around and -- -- in just not telling anyone.

I it -- that you know.

I wish I could frankly I'd rather have a curb I'd like to have a high pressure compressor at my house.

To compressed natural disaster -- my car like they do in Europe.

Make that happen that's practical applied research.

For 500 million dollars you could do an awful lot of good using compressed natural gas who -- you could always good seeing my friend thank you very much.

Our mission -- the same your body advent's it was speaks as much fun anymore and I know and.

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