Where Is The Wisdom In Selling Off Taxpayer Funded Companies Such As Fisker To The Chinese?

The technology of Fisker Automotive Inc., the U.S. plug-in hybrid carmaker that owes American taxpayers about $200 million, shouldn’t be sold to Chinese companies, U.S. Senator Charles Grassley said.

Grassley, an Iowa Republican, and Senator John Thune, a South Dakota Republican, compared the maker of the $103,000 Karma to its battery supplier, A123 Systems Inc., which received $129 million in grants from the U.S. Department of Energy before filing for bankruptcy and agreeing to be sold to a Chinese company.

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Agent009 - 2/20/2013 2:35:43 PM

+2 Boost

The root cause of it all. To fund and create a technology platform that no one wants or can afford.

AlleVier - 2/20/2013 2:47:51 PM

0 Boost

Where are the industries who've made it without taxpayer money? Where are the industries who no longer require taxpayer support? What is the wisdom of protecting US companies from foreign competition? I await your answers.

HughJass - 2/20/2013 6:46:28 PM

+2 Boost

Mitt Romney would have basically declared war on China his first day in office. Instead, Ohio/Indiana vote in Jesus and he basically surrenders his first day back.

Google I'm sure doesn't ask for handouts, ditto Apple. It's been a while since Ford needed the gov't teet to suckle on. Coca Cola, Pepsico. Texas Instruments. Intel. Honeywell.
Living off of government contracts is one thing, living because of government support is another.

American companies competed just fine when they went up against foreign companies in the free market. Throw in the Asians with their gov't backed champions and no independent company can win.

Read near the bottom, the widening income gap in S.Korea is largely because of the undervalued Won. Great for the National Champions and their exports but bad for Koreans who have to use Won to buy imports. Sad that half of Korea's economy is made up of exports from a handful of me-too companies who specialize in counterfeiting American products.

AlleVier - 2/21/2013 1:33:38 AM

0 Boost

http://www.computerworld.com/s/article/9231045/Taxpayers_subsidizing_Google_Fiber_project
http://digitaltexan.net/2012/austin-local-news/travis-county-meet-apple-tax-subsidies/article30194/#.USW48hG9KSM
http://www.torquenews.com/108/ford-commits-400-million-kansas-city-after-tax-incentives

I don't have time to look them all up, but I hope you're not so delusional as to think that the companies you mentioned have not and will not continue to lobby for and take taxpayer money wherever they have the chance.

HughJass - 2/20/2013 6:46:37 PM

+2 Boost

http://www.bloomberg.com/news/2012-12-20/park-presidency-gives-fighting-chance-to-south-korea-s-chaebols.html

HughJass - 2/20/2013 6:48:23 PM

+2 Boost

Now repeat and change Korea to China. Same thing. You just only hear about their new money and never about the people who live, work and die as slaves so the communist party can drive Ferraris.

Of course, we Americans only care if it affects football, chicken wings or tv prices.