$530 million of taxpayer money to develop a hybrid. Oh, and big surprise, Al Gore backs this company.

From the WSJ:

http://online.wsj.com/article/SB125383160812639013.html?mod=WSJ_hpp_MIDDLTopStories 

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 is a California startup focusing on all-electric vehicles, with a number of celebrity endorsements that is backed by investors that have contributed to Democratic campaigns.

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Fisker's Karma hybrid sports car, above, will initially cost about $89,000.

Agence France-Presse/Getty Images

Fisker's Karma hybrid sports car, above, will initially cost about $89,000.

Fisker's Karma hybrid sports car, above, will initially cost about $89,000.

Fisker's Karma hybrid sports car, above, will initially cost about $89,000.

The awards to Fisker and Tesla have prompted concern from companies that have had their bids for loans rejected, and criticism from groups that question why vehicles aimed at the wealthiest customers are getting loans subsidized by taxpayers.

"This is not for average Americans," said Leslie Paige, a spokeswoman for Citizens Against Government Waste, an anti-tax group in Washington. "This is for people to put something in their driveway that is a conversation piece. It's status symbol thing."

Not sure how this is going to benefit the economy since the common person could never buy it. It may help the economy of Hollywood but I'm pretty sure they really don't need the help like the rest of America does.

Scoreboard! We won.

^Can I be a czar?

Can't say that this is the right way to go, but on the other hand, if they can sell the sports cars to the rich(the only ones with money right now), maybe it will pave the way for tech. to be passed down to cheaper 'family type' models, with the costs being spread out over a longer period of time. Also any vehicles that actually make it to market will help with our foreign energy dependance.

^ so the trickle down approach really works?

- J

Trickle charge probably better, trickle down, not so much.

yep the government cash is trickling right into the influential investors pockets.

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NINE!!!!!!!!!!!!!!!!!!!!!!!!!!!

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If they're going to spend half a billion dollars of our money developing hybrid sports cars that cost more than most average Americans can afford the least they could do is provide it to a company that will produce them in the United States so jobs are created for Americans.

But, hybrid technology is already available from Toyota, Ford, GM, VW, and several others. So why, exactly, does the government need to loan this money for "research" of a technology already developed by carmakers? Is it because Al Gore is invested in Fisker? I think so..

Edsbar, just what are you talking about, it's the free enterprise system, all thing good are to be built outside the USA. American labor sucks, and it is cheaper to build in China, Mexico, or anywhere else. If big business is running it we are safe, that way they have no oversight by the obtrusive American government.

^It's a free enterprise system? There's nothing "FREE" about it when the government is loaning our money without any input from the people.

Edsbar- most of 11 was in jest. I believe everything should be made in America, but I'm a little twisted.

Ahhhh, sorry, I didn't catch that. LOL!

Sure hope those Finnish auto workers come to America with their pockets bulging with cash and stimulate our economy! Why, maybe..., maybe..., someday...

Naw.