Gotta Love Al Gore Who's Motives are Pure as the Wind Driven Snow

[rushmc 18]

http://online.wsj.com/article/SB125383160812639013.html?mod=WSJ_hpp_MIDDLTopStories

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Gore-Backed Car Firm Gets Large U.S. Loan


By JOSH MITCHELL and STEPHEN POWER
WASHINGTON -- A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000.

The award this week to California startup Fisker Automotive Inc. follows a $465 million government loan to Tesla Motors Inc., purveyors of a $109,000 British-built electric Roadster. Tesla, like Fisker, is a California startup focusing on high-end hybrids, with a number of celebrity endorsements that is backed by investors that have contributed to Democratic campaigns.

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Agence France-Presse/Getty Images

Fisker's Karma hybrid sports car, above, will initially cost about $89,000.
The awards to Fisker and Tesla have prompted concern from companies that have had their bids for loans rejected, and criticism from groups that question why vehicles aimed at the wealthiest customers are getting loans subsidized by taxpayers.

"This is not for average Americans," said Leslie Paige, a spokeswoman for Citizens Against Government Waste, an anti-tax group in Washington. "This is for people to put something in their driveway that is a conversation piece. It's status symbol thing."

DOE officials spent months working with Fisker on its application, touring its Irvine, Calif., and Pontiac, Mich., facilities and test-driving prototypes.

Matt Rogers, who oversees the department's loan programs as a senior adviser to Energy Secretary Steven Chu, said Fisker was awarded the loan after a "detailed technical review" that concluded the company could eventually deliver a highly fuel-efficient hybrid car to a mass audience. Fisker said most of its DOE loan will be used to finance U.S. production of a $40,000 family sedan that has yet to be designed.

"It's the ability to drive significant change in fuel economy across a large market segment" that swayed the department to approve the Fisker loan, Mr. Rogers said. "We got quite excited."

Henrik Fisker, who designed cars for BMW, Aston Martin and Tesla before starting his Fisker Automotive in 2007, said his goal is to build the first plug-in electric hybrids that won't sacrifice the luxury, performance and looks of traditional gas-powered luxury cars.

The Karma will target an exclusive audience -- Gore was one of the first to sign up for one. Mr. Fisker says all new technology starts out being expensive. He pointed to flat-screen televisions that once started at $25,000 but are now affordable to the mass market.

The four-door Karma, powered by a lithium-ion battery, will be able to run solely on electric power for 50 miles, and will achieve an average fuel economy of 100 mpg over the span of a year, the company says. Production is scheduled to start in December, with about 15,000 vehicles a year expected to hit the U.S. market starting next June.

Many of the 1,500 people who have made deposits on the Karma are former BMW and Mercedes owners who want an environmentally friendly car without sacrificing luxury, Mr. Fisker said.

He said he pitched the Karma to Mr. Gore at an event hosted by KPCB last year, and that the former vice president almost immediately submitted a down payment for the car.

Kalee Kreider, a spokeswoman for Mr. Gore, confirmed that the former vice president backs Fisker and purchased a Karma. "He believes that a global shift of the automobile fleet toward electric vehicles, accompanying a shift toward renewable-energy generation, represents an important part of a sensible strategy for solving the climate crisis," she said in a statement.

Fisker's top investors include Kleiner Perkins Caufield & Byers, a veteran Silicon Valley venture-capital firm of which Gore is a partner. Employees of KPCB have donated more than $2.2 million to political campaigns, mostly for Democrats, including President Barack Obama and Hillary Clinton, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign contributions.

Officials at Kleiner Perkins didn't return requests for comment.

Asked whether Mr. Gore had any influence on Fisker's application, the DOE's Rogers said, "None at all."

"This is a very attractive, very across-party-lines kind of vehicle," Mr. Rogers said. "All of the detailed due diligence [was] done by independent review teams."

Other Fisker investors include Eco-Drive (Capital) Partners LLC, an investment consortium, and Qatar Investment Authority, a state-run investor based in Qatar.

Fisker's government loans will come from a $25 billion program established by Congress in 2007 to help auto makers invest in the technology to meet a new congressional mandate to improve fuel efficiency. In June, the DOE awarded the first $8 billion from the program to Ford Motor Co., Nissan Motor Co., and Tesla, which are all developing electric cars.

Some companies that have been turned down for loans from DOE say they did not get much feedback from the department about their applications. O. John Coletti, president of EcoMotors International of Troy, Mich., said his company applied for a $20 million loan from the agency last December, and last month got a one-page rejection letter from the loan program's director, Lachlan Seward. EcoMotors' lead investor is Vinod Khosla, himself a former Kleiner Perkins partner and a longtime campaign contributor to Republicans and Democrats alike.

"I don't have an issue with the winners … it's possible somebody has better ideas than us," Mr. Coletti said. At the same time, he said, "More feedback from DOE on a timely basis would be wonderful. When you're running a business you'd like to know whether you're going to be able to take advantage of this opportunity."

Mr. Coletti's company -- which makes diesel engines and is still waiting to hear from the Department on a separate loan application to help it build a manufacturing facility -- isn't without politically well-connected patrons, either. Its major investor is Vinod Khosla, himself a former Kleiner Perkins partner who has donated to campaigns.

Scott Redmond, CEO of XP Vehicles Inc., said he met with DOE officials twice in Washington after applying for a $40 million loan to develop a $15,000 to $25,000 hybrid, and that both times he was told his application looked good. Since receiving a rejection letter from DOE in August, Redmond said, he has been unable to get a full explanation as to why his request was turned down.

Mr. Rogers said he was not at liberty to discuss individual applications that had been turned down, but said the process has been handled fairly and objectively.

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Lucky... 0]

Well, you're quite the cut-n-paster lately, aren't you?

[kallend 1,620]

So Al Gore invests in a company that develops clean energy technology. Why do you have a problem with that? Are you developing socialist tendencies?

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The only sure way to survive a canopy collision is not to have one.

[Dewhast 0]

The Government invested it.

[wolfriverjoe 1,340]

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So Al Gore invests in a company that develops clean energy technology. Why do you have a problem with that? Are you developing socialist tendencies?

Al Gore has a lot of investments that will do very well if the country "goes green". Especially if it is forced to do so by legislation.

Al Gore has travelled the world warning of the coming catastrophy. Promoting legislation that would make him even richer. In a way that is (to me anyway) very alarmist.

Is it a case of self interest, or simply "when the wind blows, build windmills"?

I don't know, but the conflict of interest is a little spooky. The lack of disclosure of it more so.

"There are NO situations which do not call for a French Maid outfit." Lucky McSwervy

"~ya don't GET old by being weak & stupid!" - Airtwardo

[kallend 1,620]

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The Government invested it.

The govt. invests in many things, do you have a point?

...

The only sure way to survive a canopy collision is not to have one.

[kallend 1,620]

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So Al Gore invests in a company that develops clean energy technology. Why do you have a problem with that? Are you developing socialist tendencies?

Al Gore has a lot of investments that will do very well if the country "goes green". Especially if it is forced to do so by legislation.

Al Gore has travelled the world warning of the coming catastrophy. Promoting legislation that would make him even richer. In a way that is (to me anyway) very alarmist.

Is it a case of self interest, or simply "when the wind blows, build windmills"?

I don't know, but the conflict of interest is a little spooky. The lack of disclosure of it more so.

If there's no disclosure, how do we know about it?

AL Gore is a private citizen and, like you, may invest in whatever he chooses.

As far as promoting legislation that would make him richer, just about every large company in the US hires lobbyists to do exactly that.

The article is just meaningless fluff.

...

The only sure way to survive a canopy collision is not to have one.

[Dewhast 0]

Just that your statement makes it sound like it is Al Gore's money. I really don't have a problem with Gov. loans as long as they are responsible.

[wolfriverjoe 1,340]

There is of course some disclosure, but it isn't very widely reported. Some of the reports comment on how little is publicized about this.

Of course he can invest however he wants, but calling Al Gore a "Private Citizen" is a bit naive.

After being VP, "An Uncomfotable Truth" and his Nobel Prize he isn't very private.

"There are NO situations which do not call for a French Maid outfit." Lucky McSwervy

"~ya don't GET old by being weak & stupid!" - Airtwardo

[kallend 1,620]

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Just that your statement makes it sound like it is Al Gore's money. I really don't have a problem with Gov. loans as long as they are responsible.

And WHERE is the evidence that it was not responsible? Seems like better use of our money than bailing out GM or AIG.

...

The only sure way to survive a canopy collision is not to have one.

[kallend 1,620]

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There is of course some disclosure, but it isn't very widely reported. Some of the reports comment on how little is publicized about this.

.

Right, the Wall Street Journal isn't widely read.

Google brings up OVER 300 news reports on the topic.

...

The only sure way to survive a canopy collision is not to have one.

[Dewhast 0]

I never said it wasn't, and I completely agree, the bailouts of GM and AIG were very irresponsible.

[rhys 0]

So you support capitalism, but only if companies and individuals that have your support are gaining from it?

I really cannot see what yor point is, if Isupport say, cleaning up pollution and develp a company that processes wasted plastic, then turnes it into a usable recource, does that make me unethical?

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Henrik Fisker, who designed cars for BMW, Aston Martin and Tesla before starting his Fisker Automotive in 2007, said his goal is to build the first plug-in electric hybrids that won't sacrifice the luxury, performance and looks of traditional gas-powered luxury cars.

It is quite clear, a plug in hybrd electric is a great Idea, and if cool people start driving them then it will help promote the use of such vehicles as the 'chevy volt' and other similar projects that are bound to pop up over the next few years!

Do you support capitalism or do you not?

You only seem to want right wing consuming warmongers to get all the money?

Is it illegal to make some money out of fixing a problem? Are you jelous of Al Gore?
Do you think wealthy people should continue using only high powered combustion engines and large suv's with tinted windows?


And I don't know about your 'Hood, but in mine the wind driven snow is quite pure indeed, that is until the boys get a hold of it!

"When the power of love overcomes the love of power, then the world will see peace." - 'Jimi' Hendrix

[jclalor 12]

Nothing more than a hit piece.

[rushmc 18]

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So you support capitalism, but only if companies and individuals that have your support are gaining from it?

I really cannot see what yor point is, if Isupport say, cleaning up pollution and develp a company that processes wasted plastic, then turnes it into a usable recource, does that make me unethical?

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Henrik Fisker, who designed cars for BMW, Aston Martin and Tesla before starting his Fisker Automotive in 2007, said his goal is to build the first plug-in electric hybrids that won't sacrifice the luxury, performance and looks of traditional gas-powered luxury cars.

It is quite clear, a plug in hybrd electric is a great Idea, and if cool people start driving them then it will help promote the use of such vehicles as the 'chevy volt' and other similar projects that are bound to pop up over the next few years!

Do you support capitalism or do you not?

You only seem to want right wing consuming warmongers to get all the money?

Is it illegal to make some money out of fixing a problem? Are you jelous of Al Gore?
Do you think wealthy people should continue using only high powered combustion engines and large suv's with tinted windows?


And I don't know about your 'Hood, but in mine the wind driven snow is quite pure indeed, that is until the boys get a hold of it!

I didn't know you had such racists tendencies

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[JohnDeere 0]

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$529 million U.S. government loan to help build a hybrid sports car in Finland

Im glad Finland is getting some jobs off our tax $

Yea yea people will get jobs here to sell and service them, but If they want our $ they should make them here!

Nothing opens like a Deere!

You ignorant fool! Checks are for workers!

[rushmc 18]

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$529 million U.S. government loan to help build a hybrid sports car in Finland

Im glad Finland is getting some jobs off our tax $

Yea yea people will get jobs here to sell and service them, but If they want our $ they should make them here!

Yea

And of course Al Gore has the planet and that fact has nothing to do with him wanting to be an evil mulit billionair (if he get all the laws he wants passed)

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Muenkel 0]

That Karma is actually a sharp looking car. I'd like to see the stats on it just for curiosity sake. I would never buy one simply because Gore is behind it.

_________________________________________
Chris

[billvon 2,380]

>A tiny car company backed by former Vice President Al Gore has
>just gotten a $529 million U.S. government loan . . .

Good. They've been working on that for a while. It will help get electric cars on the road, reduce our dependence on foreign oil and help the US become a leader in car manufacturing again.

>"This is not for average Americans," said Leslie Paige, a spokeswoman
>for Citizens Against Government Waste, an anti-tax group in Washington.
>"This is for people to put something in their driveway that is a
>conversation piece. It's status symbol thing."

They are developing a plug in hybrid that will sell for around the same price as a decked out Ford Explorer. But will, of course, use very little gas.

[kallend 1,620]

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>A tiny car company backed by former Vice President Al Gore has
>just gotten a $529 million U.S. government loan . . .

Good. They've been working on that for a while. It will help get electric cars on the road, reduce our dependence on foreign oil and help the US become a leader in car manufacturing again.

>"This is not for average Americans," said Leslie Paige, a spokeswoman
>for Citizens Against Government Waste, an anti-tax group in Washington.
>"This is for people to put something in their driveway that is a
>conversation piece. It's status symbol thing."

They are developing a plug in hybrid that will sell for around the same price as a decked out Ford Explorer. But will, of course, use very little gas.

Seems like a smart investment to me.

...

The only sure way to survive a canopy collision is not to have one.

[rushmc 18]

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That Karma is actually a sharp looking car. I'd like to see the stats on it just for curiosity sake. I would never buy one simply because Gore is behind it.

Ya, and I got no problem with Gore investing in a company. I do have a problem when he is pushing laws that will make the companies he supports rich. And at the same time push laws that only punish with no up side on the rest of us

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[rushmc 18]

Quote

Quote

>A tiny car company backed by former Vice President Al Gore has
>just gotten a $529 million U.S. government loan . . .

Good. They've been working on that for a while. It will help get electric cars on the road, reduce our dependence on foreign oil and help the US become a leader in car manufacturing again.

>"This is not for average Americans," said Leslie Paige, a spokeswoman
>for Citizens Against Government Waste, an anti-tax group in Washington.
>"This is for people to put something in their driveway that is a
>conversation piece. It's status symbol thing."

They are developing a plug in hybrid that will sell for around the same price as a decked out Ford Explorer. But will, of course, use very little gas.

Seems like a smart investment to me.

Sure, if cap n trade get passed

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,380]

>Sure, if cap n trade get passed

Or if we want to start getting off foreign oil. Or build more competitive cars. Or clean the air. Or get a leg up on hybrid technology. It would be nice to retake the lead instead of just waiting for Japan to invent/develop everything automotive.

[rushmc 18]

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>Sure, if cap n trade get passed

Or if we want to start getting off foreign oil. Or build more competitive cars. Or clean the air. Or get a leg up on hybrid technology. It would be nice to retake the lead instead of just waiting for Japan to invent/develop everything automotive.

We can do all of this without cap n trade. Just by getting the Dems and enviros out of the way.

Of course we have to destroy the planet to do it but oh well

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[justinb138 0]

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Or if we want to start getting off foreign oil. Or clean the air.

I agree - killing the economy is that fastest way to do that.