Article

2023-08-09 Economy

Electric vehicle firm championed by Biden files for bankruptcy in black eye for green agenda

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Posted by Besoeker 2023-08-09 00:00|| || Front Page|| [14 views ] Top

#1 Their buses were craptastic and it was only a matter of time before the company went belly up.

Of course the government will bail them out and just throw more of our money away.

Posted by EMS Artifact 2023-08-09 08:10|| 2023-08-09 08:10|| Front Page Top

#2 Remember Solyndra?

"Solyndra's owners, Argonaut Ventures I LLC and Madrone Partners LP" will "realize the tax benefits of between $875 million and $975 million of net operating losses, while more senior creditors, including the Department of Energy, which provided a $535 million loan guarantee to Solyndra, will receive nearly nothing"

Posted by Bobby 2023-08-09 09:21|| 2023-08-09 09:21|| Front Page Top

#3 And all this in the face of massive federal subsidies and propaganda.

Can you imagine where these "green" companies would be without the federal welfare?

Posted by Tom 2023-08-09 11:09|| 2023-08-09 11:09|| Front Page Top

#4 Jennifer M. Granholm and several other Biden administration oficials had stock in Protera. They all sold their stocks just before it went belly up. This was nothing more than a government funded scam to enrich them. Several of the busses caught fire, the ones in Alaska wouldn't run in the cold, they would lose power in the heat. I want to know where all the money went. After the NYSE bell rang Monday evening, Proterra quietly and voluntarily filed for Chapter 11 bankruptcy, declaring its assets and liabilities somewhere in the range of $500 million to $1 billion.

Posted by Deacon Blues 2023-08-09 11:45|| 2023-08-09 11:45|| Front Page Top

#5 In February, the Democrats appointed Proterra CEO Gareth Joyce to serve on the President's Export Council, which provides advice on international trade. Energy Secretary Jennifer Granholm, meanwhile, held 240,000 shares in the company at the start of her tenure, prompting ethics concerns.

While Proterra shares tumbled more than 60 percent in after-hours trading Monday, Granholm will not have to worry about losing her investment. Granholm, who served on Proterra's board of directors, sold the shares for $1.6 million in May 2021, weeks after Biden publicly touted the company. Granholm's shares would be valued at just $340,000 based on Proterra's current share price.

Posted by Deacon Blues 2023-08-09 12:11|| 2023-08-09 12:11|| Front Page Top

#6 stock was worth about $14/share in May 2021; price is currently about $0.16/share

Posted by lord garth 2023-08-09 14:22|| 2023-08-09 14:22|| Front Page Top

#7 It may not advance the Green Agenda, but money was made and that is point. Nobody really believes in that Green stuff except chumps. Think of it as a sophisticated form of money laundering, except in this case the ill-gotten gains being distributed are your tax dollars.

Posted by SteveS 2023-08-09 14:47|| 2023-08-09 14:47|| Front Page Top

#8 As much as I despise that smarmy Canuck scrunt, she probably had to sell her shares for conflict of interest (*snort!*) reasons

Posted by Frank G 2023-08-09 15:56|| 2023-08-09 15:56|| Front Page Top

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