Another Stimulus FAILURE
Posted in the Minneapolis Forum
“The one and only Smart Liberal”
Since: Aug 12
Former MN Tax Payer
#1 May 8, 2013
The Obama Administration is on a roll.
How much can they piss away in bad loans that never should have been made in the first place?
Get the government out of the private sector. They should never be picking winners and losers in the private sector.
Another company backed by DOE loans shuts down
8:54 AM, May 8, 2013
By Chris Woodyard
A Michigan maker of vans for the disabled that received a $50-million Energy Department loan has quietly ceased operation and laid off its staff.
Vehicle Production Group, or VPG, stopped operations after finances dipped below the minimum threshold required by the government as a condition of the loan, says its former CEO, John Walsh. Though about 100 staff were laid off and its offices shuttered, it has not filed for bankruptcy reorganization.
VPG, of Allen Park, received its Energy Department loan under the same clean-energy programs under fire by House Republicans, especially the $527 million to troubled plug-in hybrid car maker Fisker Automotive and $535 million to solar startup Solyndra, which filed for bankruptcy reorganization. VPG was deemed eligible for the loan because some of its vans were expected to be fitted with engines fueled by clean compressed natural-gas.
Saint Paul, MN
#3 May 8, 2013
There are people with a golden touch.
You know everything the touch turns to gold and then there are those who have a lead touch, the DFL and Libertards of the USA.
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