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Archive for December 2nd, 2011

General Government Motors wants to bailout taxpayers who bailed them out by buying the craptasitc Chevy Volt. Wonder if GM will return the $7500 tax credit per car which was given to them via the Obama stimulus? Remember Obama pitching the Chevy Volt and adding a few hundred to the fleet? Umm, it seems the Chevy Volt has a problem with bursting into flames.

NEW YORK (AP) — General Motors will buy Chevrolet Volts back from any owner who is afraid the electric cars will catch fire, the company’s CEO said Thursday.

How about those who want GM to buy back the Volt due to false advertising? The Volt sucks and can’t compete with other “green energy” vehicles, on top of costing over $40,000.

In an exclusive interview with The Associated Press, CEO Dan Akerson insisted that the cars are safe, but said the company will purchase the Volts because it wants to keep customers happy. Three fires have broken out in Volts after side-impact crash tests done by the federal government.

Akerson said that if necessary, GM will recall the more than 6,000 Volts now on the road in the U.S. and repair them once the company and federal safety regulators figure out what caused the fires.

“If we find that is the solution, we will retrofit every one of them,” Akerson said. “We’ll make it right.”

The fires happened seven days to three weeks after tests performed by the National Highway Traffic Safety Administration. And GM has said there’s no threat of fires immediately after crashes. GM also has said that no Volts involved in real-world crashes have caught fire.

Still, NHTSA has opened an investigation into the fires and has asked other companies that make electric cars for battery testing data. NHTSA said the safety testing hasn’t raised concerns about electric vehicles other than the Volt.

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It’s all coincidental that those who helped raised millions for Obama are the same ones who are receiving hundreds of millions in loans.

From The Washington Examiner:

Abound Solar, given a $400 million Department of Energy (DOE) loan guarantee for a project expected to create 400 permanent jobs, receives private financial backing through an investment firm founded by a fundraising bundler for President Obama.

The Sunlight Foundation notes thatBohemian Companies, which was founded by billionaire and Obama bundler Pat Stryker, participated with other companies in the “second institutional equity round of financing” in 2008 for Abound Solar, which recieved $104 million total through that round of financing.

Stryker gave $50,000 to Obama’s inaugurationaccording to the Center for Responsive Politics,  and raised a further $87,000 for the inauguration. Stryker has since donated $35,800 to the 2012 Obama Victory FundSunlight reports.

One year after Bohemian invested in Abound, and a year before the DOE granted a loan guarantee, Stryker visited the White House. “The White House did not confirm that the visitor was the Pat Stryker in question and did not provide details about the meeting,” Sunlight says.

More Obama pay-to-play Chicago-style politics. Give Obama money and get rewarded with taxpayer-backed loans.

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