Ain’t it funny how there’s never enough of other people’s money?

Old Trooper sends us a link about a company in Salinas, California that sucked more than a half-million dollars from the town seducing them into believing that they had a plan to build “green cars” that would solve all of the world’s problem. But as it turns out, a half-million samolians weren’t quite enough and the company went tits-up before the first car rolled off the assembly line;

The start-up company promised city leaders that it would create 70 new jobs and pay $700,000 in taxes a year to Salinas.

Green Vehicles was supposed to be up and running by March 2010 inside their 80,000 square-foot space at Firestone Business Park off of Abbot Street.

Ryan had lofty goals, listing his company’s mission as: “To make the best clean commuter vehicles in the world; To manufacture with a radical sense of responsibility; To engage in deep transparency as an inspiration for new ways of doing business.”

Green Vehicles designed two vehicles, the TRIAC 2.0 and the MOOSE, which it planned to manufacture.

On July 12, Ryan wrote a blog post announcing that his company was closing.

That’s classy, writing a blog post to let everyone know you burned up all of their cash. I’m sure my employer would be impressed if I resigned from the paying job on this blog instead of face-to-face.

Ryan outlined three mistakes he made while steering his company into a brick wall. All three reasons boiled down failing to generate enough capital.

Funny how fast you can burn through other people’s money so quickly. Just like the city that gave away hundreds of thousands of dollars they were given by the tax payers. Twice. After the company didn’t produce last year, they dumped a few hundred thousand more into the unicorn-fart powered cars. Oh, and they claim they collapsed because a grant from the state never materialized – i guess the state isn’t all that stupid after all.

I guess that’s what the hippies mean when they say that we only need to invest more money into these schemes to make “green energy” possible.

Category: I hate hippies, Taxes