A Salinas car manufacturing company that was expected to build environmentally friendly electric cars and create new jobs folded before almost any vehicles could run off the assembly line.
You might be asking yourself, "what in the world is a city doing backing a new, unknown, untested, fledgling car company?" Then again, you might have asked yourself, "why is the federal government throwing tens of billions of dollars at GM and Chrysler?" In both cases, you already know the answer.
The city of Salinas had invested more than half a million dollars in Green Vehicles, an electric car start-up company. All of that money is now gone, according to Green Vehicles President and Co-Founder Mike Ryan.
Brilliant.
The start-up company set up shop in Salinas
Known as the "City of Suckers"...
in the summer of 2009, after the city gave Ryan a $300,000 community development grant.
When the company still ran into financial trouble last year, the city of Salinas handed Ryan an additional $240,000. Green Vehicles also received $187,000 from the California Energy Commission.
Stupidity at multiple levels...
Salinas Mayor Dennis Donohue said he was "surprised and disappointed" by the news. City officials were equally irked that Ryan notified them through an email that his company had crashed and burned.
Perhaps they didn't have money for a stamp...
Donohue said he will work with the state to try to get at least $240,000 back from the now-defunct company.
Last year, Salinas city officials said they were excited about Green Vehicles moving from San Jose to Salinas because they wanted to turn Salinas into a hub for alternative energy production. City leaders wooed Green Vehicles to jump-start the sputtering local company and turn Salinas into an "electric valley." Donohue and Weir both voiced their high hopes for Green Vehicles.
The start-up company promised city leaders that it would create 70 new jobs and pay $700,000 in taxes a year to Salinas.
And a pony...
Green Vehicles was supposed to be up and running by March 2010 inside their 80,000-square-foot space at Firestone Business Park off of Abbot Street. Ryan had lofty goals, listing his company's mission as: "To make the best clean commuter vehicles in the world; To manufacture with a radical sense of responsibility; To engage in deep transparency as an inspiration for new ways of doing business."
Ah, green progressive liberals. Is there nothing they can't say, and nothing they can do?
Green Vehicles designed two vehicles, the TRIAC 2.0 and the MOOSE, which it planned to manufacture.
On July 12, Ryan wrote a blog post announcing that his company was closing. "The truth is that not realizing the vision for this company is a huge disappointment," Ryan wrote.
Wonder what his net worth is today?
Posted by: Steve White ||
07/19/2011 00:00 ||
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#1
To engage in deep transparency as an inspiration for new ways of doing business."
As I recall the dot-bomb period consisted of people who wanted a new way of doing business: losing money instead of turning a profit.
#3
OOOOOOO, just wait until the City Fathers find out how much Germany is charging for their "Nuclear Tax" to offset the effects of their nationwide shutdown of all Nucplants?
#7
Heres an idea, why don't we all have electric cars supported by a power grid where we import our electricity from other states and are dependent on those states for power generation during peaks! Come on doesn't anyone else like my brilliant plan?
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A Salinas car manufacturing company that was expected to build environmentally friendly electric cars and create new jobs folded before almost any vehicles could run off the assembly line.
