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Biden Going out with Another $15 Billion
on Your Tab for These Two Failures

Original Article

Posted By: mc squared, 12/4/2024 12:11:59 PM

"Moving at the speed of business" was one of the great corporate slogans of our lifetimes. In just six words, UPS declared that they didn't just move fast, they expected their customers to. From 1995 to 2002, it was a boast and a compliment about speed, agility, and affordability — at a time when business adaptation of the internet demanded more and more of all three. [snip] On Monday, Biden's Department of Energy announced a $7.5 billion loan to Stellantis and Samsung to build batteries in Indiana for cars no one is buying. How much do you want to bet that loan ever gets paid back?

Comments:

If Samsung wants to build a battery plant here - let them. But Stellantis ( Chrysler is a Euro company) is talking about selling it's Ram and Jeep lines to China.

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Reply 1 - Posted by: snakeoil 12/4/2024 12:33:06 PM (No. 1848141)
I have a Samsun phone and numerous TVs. They don't need a "loan." They are making plenty of money. The "loan" should go to train a new generation of black smiths in case horse drawn carriages stage a come back. "Stellantis" is, I think, what used to be know as Dodge. Instead of making batteries for EVs, make a car worth driving and you won't need a "loan."
10 people like this.

Reply 2 - Posted by: itsonlyme 12/4/2024 12:35:45 PM (No. 1848147)
The Demented Fuhrer...... Wednesday, December 4 2024 3:45 AM Quatro de Fevereiro Luanda International Airport, Luanda, Angola Out-of-Town Pool The President departs Luanda, Angola en route to Lobito, Angola [10:45 AM Local] 4:45 AM Aéroport de Catumbela, Catumbela, Angola Out-of-Town Pool The President arrives to Lobito, Angola [9:45 AM Local] 5:30 AM Port of Lobito, Angola Out-of-Town Pool The President tours the Lobito Port Terminal [11:30 AM Local] 7:40 AM Sede Carrinho, Lobito, Angola Out-of-Town Pool The President visits the Carrinho Food Processing Factory [1:40 PM Local] 8:10 AM Sede Carrinho, Lobito, Angola Open Press The President participates in a family photo with African leaders [2:10 PM Local] 8:15 AM Sede Carrinho, Lobito, Angola Open Press The President participates in the Lobito Corridor Trans-Africa Summit [2:15 PM Local] 10:20 AM Aéroport de Catumbela, Catumbela, Angola Out-of-Town Pool The President departs Lobito, Angola, en route to Sal, Cabo Verde [4:20 PM Local] 4:25 PM Amílcar Cabral International Airport, Espargos, Cape Verde Out-of-Town Pool The President arrives to Sal, Cabo Verde for a brief refueling stop [8:40 PM Local] 5:55 PM Amílcar Cabral International Airport, Espargos, Cape Verde Out-of-Town Pool The President departs Cabo, Verde en route to Joint Base Andrews [9:55 PM Local] Maybe heading back to the Beach.
2 people like this.

Reply 3 - Posted by: jhpeters2 12/4/2024 12:43:28 PM (No. 1848157)
Stellantis is failing hard. An example of the failure is how they priced Jeeps, especially the Wrangler and the Gladiator. People who buy Jeeps and who have bought Jeeps were willing to pay more for durable offroad capability - but there are plenty of cheaper options now. Almost every manufacturer makes AWD and 4x4 drive trains. Paying Cadillac prices for a cramped offroader is silly. Stellantis has found that out the hard way. CEO? Fired. Workers? Laid off. Billions from Biden? Executive bonuses. Bank it.
7 people like this.

Reply 4 - Posted by: DVC 12/4/2024 12:45:27 PM (No. 1848159)
Panasonic has been building a battery plant in eastern Kansas in a small town, not far west of KC area. I doubt it is completed. I wonder if it will ever be completed, now that the sales of EVs are in the toilet.
6 people like this.

Reply 5 - Posted by: Venturer 12/4/2024 12:46:07 PM (No. 1848160)
Getting those last grifts out before the DOGE get's here.
11 people like this.

Reply 6 - Posted by: PostAway 12/4/2024 1:03:10 PM (No. 1848166)
#3 has a point about buying cheaper ATV’s but how else can you get complete strangers to give you a rubber duck?
4 people like this.

Reply 7 - Posted by: caljeepgirl 12/4/2024 2:57:45 PM (No. 1848226)
A Billion here....a Billion there....
2 people like this.

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