Another “Fine Example” of Stimulating “Green Vehicle” Production
Well, it looks like another “green vehicle” manufacturer is on the ropes. After taking taxpayers for the proverbial “sleigh ride in July” for tens of millions, of course.
Smith Electric Vehicles was touted as another “green” vehicle maker. It was to specialize in large electric vehicles suitable for commercial use. It originally announced plans to make over 500 such vehicles.
In return for $1.4 million in tax credits from Missouri, Smith promised to create 200+ new jobs. It’s hired 54 people to date.
Smith owes large sums to various creditors. The precise amount isn’t known, but since it includes a $30k+ debt to a Missouri university and six months’ back rent on 90,000 sq ft of space at the Kansas City airport, the total could easily be hundreds of thousands of dollars.
And it’s stopped production.
Of course, since this was one of the Administration’s pet “green” projects – the POTUS touted it publicly in a speech at the Kansas City airport 4 years ago – it got some $30+ million in Federal stimulus funds. Anyone surprised?
The Washington Examiner has a good article on Smith, its troubles, and its past problems (which go far beyond what I’ve listed here). It’s worth reading – providing you don’t have high blood pressure or anger management issues.
Yeah, looks like that “green” stimulus program worked out just swimmingly here. One could even be cynical and say it looks almost like a political payback or “make work” deal. But that can’t possibly be the case.
Still, what’s that old saying: “If it looks like a duck, walks like a duck, and quacks like a duck . . . . “
Category: "Your Tax Dollars At Work", Economy, Global Warming
All of them money pits!! The irony is states are going after Tesla, the only one that seems to be working out, because if how they sell it. When has the government intrusion into the free market been a good idea?
The one thing you can absolutely count on is that these “green” car companies will take shitloads of government funding, blow every bit of it and then go under. Thanks Mr. Obama.
Another example of the responsible use of taxpayer money!!
I wonder how much each of these “green” firms donated to B. Hussein 0bama & Company to get the grants?
I’m going to declare myself a ‘green’ company, because my furnace has a part that broke on Friday, and solar heat plus good insulation has kept my house reasonably warm, despite the chilly weather.
So if I’m a ‘green’ company, and using the sun instead of fossil fuels to keep the house warm without the furnace, that should qualify me as a ‘green’ company. Right? Where’s my big ol’ gubbmint grant for being so clever? Where do I sign up?
I don’t have anger management issues (unless you count sarcasm) but I am tired of the money that is being wasted on this crap, when these companies are actually running scams that net them billions. So I won’t read the article but I will make snotty, snide remarks and try to figure how to run my own scam and ‘get some’ for myelf. 😉
Ex-PH2 You’re on the right track. I think you should get $20 in a federal grant and another $20 million in tax credits, state and federal. Should that cover you, since you’re running “green” and all.
Sparks, I don’t want tax credits.
I want cash! And an obamaphone.
Ex-PH2 My bad. I meant $20 MILLION in free grants as well!
I’m from Minnesota.
Many of our windows faced south. So with the sun transiting the sky lower than the summer, it was at a right position for me to slide all the curtains aside to let the sun in. Most of the time, it was effective in making the place comfortable. 
Has this administration ever thrown money at anything that didn’t fail miserably?
Uh, no.
From the article linked in the Original Post.
“…The company is privately held, with 49 percent of it being owned by the British firm Tanfield Group, which launched the American Smith Electric after its own electric vehicle program collapsed…”
So, they failed in England and came here for a big bite of American Government Cheese. What a bunch of rats. They have not had one profitable year, all years in buisiness they have operated at huge losses.
“… 4 ears ago …”
Hmmm … Freudian slip, Brother?
😛
Nah. Apropos, perhaps – but it was a typo that also happened to be a correctly-spelled word and which I therefore missed.
It’s fixed now. (smile)
This administration isn’t even competent enough to do it the Chicago Way. The Chicago Way is corrupt, all right, because the contract goes to somebody’s brother-in-law. It’s clean graft, however, when the brother-in-law delivers (or even over-delivers) on the contract.
This administration, which throws money at rich white people without any expectation of return to the citizens, engages in dirty graft. That’s not the Chicago Way. It has no redeeming value at all.
And now that another “green car” company has gone under, it’s time for Barrycade to, once and for all, put the kibosh on the Keystone pipeline. That seems to be the M.O. of this Regime.
Oops, sorry, he won’t do that til after the midterms. Along with the coming health insurance cancellations.
Like when Mayor Daley said I know there’s corruption… but I control it!!
Most corrupt and incompetent administration, ever?
It’s looking that way.
‘Most corrupt and incompetent ever’?
I’m not so sure about that. Look at a couple of administrations from the 19th century. Look at some 20th century admins, as well.
I think it’s just proximity that makes it seem like this one is the worst.
While this latest incident shows the administration’s interference in the marketplace resulting in another colossal failure, there is another case working its way through the courts that I believe is just as devastating, if not more so, than Smith Electric Vehicles. The case involves two companies XP Vehicles and Limina, Inc. The companies partnered together to form of a proprietary and patented technology of regenerative batteries that would work in cars. The batteries are light and would have made a huge impact for electric vehicles. In 2008, the companies applies for a Department of Energy grant and were told they were going to get the grant. Yet each time they inquired, they were told that something was holding the grant up and more information was needed. During the period of the grant’s review by the DOE, engineers were called to a meeting at a DOE lab. As they walked through the halls they looked into a conference room where DOE officials where meeting the GM engineers. The documents on the table looked familiar to the XP / Limina engineers. They were the engineering drawings, schematics and technical information the DOE had demanded of XP / Limina. The DOE was sharing private, proprietary, intellectual property which they had demanded and collected under promises and law protecting the documents with GM. XP and Limina are suing the government, the DOE and officials. The case has been going on for over 18 months as the government makes motions which requires a response from the plaintiffs’ lawyers and it goes on and on. I believe that this case is just a big as the Smith Vehicles, Solyndra, etc because not only is there a waste of money, but government officials broke the law in giving GM the documents. People should be headed to jail, but I am not holding my breath for that. After all, if you or I were to steal intellectual property, we would be facing jail terms. Government officials do not face the same thing. Oh, and the grant was not approved. Why spend money on an idea when you can… Read more »