Obama’s Electric Car Boom in Indy City Goes Bust…Gave Stimulus To Foreign Company With Three Bankruptcies

Scotty Starnes posted: " I had to change the title for CBS to report the truth. Obama' electric car pipe-dream has gone bust and all the taxpayers got was the bill. Its the same situation. Obama gave loans to a corporation with a terrible track record with money. (CBS News) " Respond to this post by replying above this line New post on Scotty Starnes's Blog Obama's Electric Car Boom in Indy City Goes Bust…Gave Stimulus To Foreign Company With Three Bankruptcies by Scotty Starnes I had to change the title for CBS to report the truth. Obama' electric car pipe-dream has gone bust and all the taxpayers got was the bill. Its the same situation. Obama gave loans to a corporation with a terrible track record with money. (CBS News) ELKHART, Ind. - Elkhart, Indiana lost jobs faster than any other city in the country in 2009. Both Democrats and Republicans promised to re-energize manufacturing in the city, backing a new electric car plant. But as CBS News investigated, instead of a boom, things went bust. With unemployment peaking above 20 percent, Elkhart, Indiana was at the white-hot center of the economic meltdown, and a natural launch point for President Obama's electric vehicle initiative. " So that's why I'm here today," the president said three years ago. "To announce $2.4 billion in highly competitive grants." Republican Gov. Mitch Daniels was also on board in convincing Norwegian company Think Global to open a plant in Elkhart to build Think City electric cars with a sticker price of about $42,000. As incentive, the federal government offered Think City $17 million in stimulus tax credits. Dorinda Heiden-Guss heads up the local economic development effort. "We were excited," she said. "We were invigorated at a very devastating time." But it turns out the company had a checkered track record, including three previous bankruptcies. We recently visited Think City's Indiana plant, and here's what we found: a largely empty warehouse. Continue reading>>> Scotty Starnes | August 19, 2012 at 3:15 PM | Tags: bankruptcy, electric cars, Obama stimulus, President Obama, stimulus money, Think Global | Categories: Political Issues | URL: http://wp.me/pvnFC-7R2 Comment    See all comments Unsubscribe or change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: http://scottystarnes.wordpress.com/2012/08/19/obamas-electric-car-boom-in-indy-city-goes-bust-gave-stimulus-to-foreign-company-with-three-bankruptcies/ Thanks for flying with WordPress.com

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