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Friday, September 25, 2009

A billion dollars well spent?

In what can only be interpreted as trickle-down green technology, the U.S. government has loaned $1 billion to two start-up companies focusing on high-end luxury (and expensive) hybrid cars:
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.
Why do stories like this sound so much like those from Atlas Shrugged?

When those with pull win over those with quality ideas then we are in deep doo-doo.

More here

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