With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.
Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland.
"There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here."
And why exactly do you think that suitable manufacturing facilities don't exist in America? Do you think it might have something to do with the level of regulation American businesses have to surmount to open their doors? Or how about the power of unions in the American economy -- do you think a non-union shop would get the benefit of an Obama administration loan guarantee?
Oh, and not incidentally:
One of Fisker's biggest financial supporters, records show, is the California venture capital firm Kleiner Perkins Caufield & Byers. The firm financially supports numerous green-tech firms, records show.
Kleiner Perkins partner John Doerr, a California billionaire who made a fortune investing in Google, hosted President Obama at a February dinner for high-tech executives at his secluded estate south of San Francisco. Doerr and Kleiner Perkins executives have contributed more than $1 million to federal political causes and campaigns over the last two decades, primarily supporting Democrats. Doerr serves on Obama's Council on Jobs and Competitiveness. Doerr has not replied to interview requests since March.
Former Vice President Al Gore is another Kleiner Perkins senior partner. Gore could not be reached for comment.
Your stimulus dollars at work lining the pockets of wealthy Democratic Party donors.