In another setback for President Obama’s clean energy loan programs, the recipient of more than a half-billion dollars in federal loans is laying off workers at their Delaware and California operations.
Delaware’s News Journal reports that Fisker Automotive, a California-based electric car start-up company, is laying off an undisclosed number of staff to try to reserve enough capital in order to qualify for more federal help from the Department of Energy, according to a Delaware state development official.
“They’re trying to preserve the cash that they have,” said Alan Levin told the News Journal. “And unfortunately, until they meet the milestone that DOE continues to set … they’re not able to access the additional capital that they need.”
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4 comments:
President Obama your the best have you got any more great ideas.
This is becoming a weekly event for these companies that received gov't money!!
O'Malley is doing the same thing. He's borrowing money from the teacher pension fund to build schools and then telling the Counties they must pay it back. It really doesn't matter whether the school is needed or if it collapses later. It's all about some large contractors making money just like these green companies are doing off Obama.
DOH!
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