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Winterborn is unable to think that deeply. All he sees is "Tesla paid off the loan early." He doesn't go into the details of the loan, which was WAY sweeter than any other company got for the same type of loan. The risk to the US taxpayer far outweighed the minimal gain they got from the Tesla loan. They even made less because the loan was paid off early.
It's not the gov'ts job to provide low-interest loans to companies like Tesla. It's not their job to give money to ANY private company for any reason. The fact that they do it shows that some people in gov't should be eating from a tray given to them through the steel door of a prison cell.
Or Tesla pays for it. That seems the most logical.
Tesla has been built on government handouts, which ultimately all come from the taxpayers. Here in Nevada they were the recipient of 1.6 billion dollars in handouts.
Initially Tesla borrowed $425 million. They paid that loan back 8 or 9 years early.
If Nevada gave them major incentives to build teh battery plant there, someone must have thought it would be worth it.
Alabama gave Mercedes a $253 million deal to get them to open their plant in 1993. 20 years later, Mercedes claims an annual economic impact of $1.5 billion.
Those "handouts" turn into investments.
Yes, some of them do. And, I am all for those. However, the loan that TESLA repaid was at a far lower interest rate than that given to the car companies. And Musk also loaned money to TESLA, which he got a 10% interest for. So, TESLA paid a very, very low interest to the US taxpayers, but paid Musk a very high interest for the money he loaned to his own company. So, yet again, the American taxpayer paid for a billionaire to make money...off of them..
"And, in fact, the Energy Department actually did negotiate for options on 3 million shares of Tesla stock as part of the original loan, options that would be worth $300 million based on Tesla’s current share price. Unfortunately for taxpayers, those options no longer exist. Tesla had the right to force the extinguishment of those options by repaying the loan early, as it just did. (The Energy Department says that was expected, since unlike typical options these were never meant to turn a profit but rather to encourage Tesla to repay the loan early if it could.)"
Tesla is worse than Solyndra How the U.S. government bungled its investment in the car company and cost taxpayers at least 1 billion.
If we cut out all of these low interest loans, I am fine with it. But do it across the board.
What I would like to see is a company, like TESLA, that caters to the wealthy, make the wealthy pay their own freight. It is abhorrent to me that the wealthy continuously get to enjoy the high life on the backs of the poor.
And the Tesla has a far more luxurious ride and interior. It is far quieter than either of those muscle cars. And the technology available to the driver is space age nerdgasmic.
And the Tesla has a far more luxurious ride and interior. It is far quieter than either of those muscle cars. And the technology available to the driver is space age nerdgasmic.
I test-drove a VOLT...like a space ship...no noise other than that asskicker Bose stereo. When I had the cash I thought I'd wait until it's e-range was 50 miles...10 short back in 2013....Used the dough on something more important last year....I'll buy the bow tie if I am ever able....Detroit born and bred same as me.
And thats funny, because I live in a metropolis of around a quarter million people and I don't think I've ever laid my eyes on a Volt or Leaf.
And have you actually spoken to their owners, or do you just assume that because they're in them, they're happy with them. Considering the size of the used car market, its safe to assume a whole lot of people are not happy in the car they own. They just might not be able to afford to sell it and take the hit. The depreciation on a Volt or Leaf is astronomical.
Good. Nobody is denying its a good car. Its just not the God send from heaven that you act like it is. For the same money, a much better and faster car can be had, that doesn't have a battery failure looming down the road.
And there is a hell of a lot of questionable behavior behind Tesla. If it's so damn good, why will it not turn a profit until 2020?
Tesla s Stock Suffers Power Failure After Elon Musk s Profit Projection - MoneyBeat - WSJ
Yet Obama continues to squeeze the coal miners
-Geaux'
======================================
But low oil prices are supposed to be unequivocally good? On the day when Ford lays off 700 Michigan plant workers in small cars and hybrids manufacturing, The Detroit News reports that, according to Edmunds.com, sales of electric cars and hybrids are at the lowest level since 2011. What is even more worrisome, motorists who leased those first-generation cars, and have decided not to buy them, are turning them in, leaving dealer lots full of low mileage cars at huge discounts to new ones. As Edmunds concludes, while "the government's going to keep pushing it, there is time to pause right now."
Low oil prices have not been unequivocally good for these workers... (as Detroit Free Press reports)
Ford said today that it is planning to cut a shift at its Michigan Assembly Plant where it makes the Ford Focus compact car and C-Max crossover because of declining sales of small cars, hybrids and electric vehicles.
The automaker told workers and notified the state of Michigan that it will lay off 700 workers, starting June 22. The decision affects 675 hourly workers and 25 salaried employees who make the Focus, Focus ST, Focus Electric, C-Max hybrid and C-Max Energi plug-in hybrid at the Wayne plant.
The first 200 workers will be laid off in June, another 200 at the end of July and the remainder at the end of September.
Electric Car Sales Plunge To 4 Year Lows Zero Hedge
Have you ever heard of a battery that lasted forever?
That's why.
And yes, you have treated it like a Godsend. You haven't, in 43 pages of thread, said ONE NEGATIVE THING about the Tesla automobile. NOT A SINGLE THING. You have, however, defended every single negative thing said.
Every car on the road has major negatives about it, even Tesla. Far be it from you to admit it.
Have you ever heard of a battery that lasted forever?
That's why.
And yes, you have treated it like a Godsend. You haven't, in 43 pages of thread, said ONE NEGATIVE THING about the Tesla automobile. NOT A SINGLE THING. You have, however, defended every single negative thing said.
Every car on the road has major negatives about it, even Tesla. Far be it from you to admit it.
So you admit you've never said a single negative thing about the Tesla. Saying it's not for everyone isn't a negative thing.
C'mon you can do it. Say something negative about the car. Something substantial.
In multiple posts I've said something positive about it, now, your turn. Say something negative. For you not saying it's a Godsend you sure struggle to come up with a single negative thing about the car.
Well, two people where I work own Leafs, and are quite pleased with them. See Volts at school, as well as a couple of Tesla's. Many Leafs, and several other small EV's, like the Think.And thats funny, because I live in a metropolis of around a quarter million people and I don't think I've ever laid my eyes on a Volt or Leaf.
And have you actually spoken to their owners, or do you just assume that because they're in them, they're happy with them. Considering the size of the used car market, its safe to assume a whole lot of people are not happy in the car they own. They just might not be able to afford to sell it and take the hit. The depreciation on a Volt or Leaf is astronomical.
Another brain dead poster to add to the list that goes on. Solar and wind both becoming the major players in new installed generation.fail the great society, fail liberalism, fail windmills, fail solar power..list goes on...
