Borrow $240 Mil, Or Borrow Alot Less And Start Out Slow?

[CompTrex]

It wasn't personal. Please don't give up! Fox is the politcal bend not you.

Thanks for talking me off the ledge!

 

[WilliamH]

From DoE ATVM site..........
extract
......"
FY 2009 Continuing Resolution Language
“SEC. 129. (a) Notwithstanding any other provision of this joint resolution, there is appropriated $7,510,000,000 for fiscal year 2009 for “Department of Energy–Energy Programs–Advanced Technology Vehicles Manufacturing Loan Program Account ” for the cost of direct loans as authorized by section 136(d) of Energy Independence and Security Act of 2007 (Public Law 110-140; 42 U.S.C. 17013 (d)), to remain available until expended. Of such amount, $10,000,000 shall be used for administrative expenses in carrying out the direct loan program. Commitments for direct loans using such amount shall not exceed $25,000,000,000 in total loan principal. The cost of such direct loans, including the cost of modifying such loans, shall be defined in section 502 of the Congressional Budget Act of 1974.” (P.L. 110-329)
".......
Seems like they were authorized to use $10 million for administrative expenses.
Website reference
ATVM Loan Program Governing Documents

http://energy.gov/lpo/loan-guarante...cuments/atvm-loan-program-governing-documents

Mission Statement (Loan Program Office)

http://energy.gov/lpo/mission

( extract )

Economic Growth, Job Creation & More Clean Energy Sources

Specifically, LPO endeavors to:

• Encourage commercial- and utility-scale development and adoption of new or significantly improved energy technologies;
• Fund innovative technologies which reduce greenhouse gas emissions;
• Create jobs by financing the growth of commercial clean energy technologies;
• Provide direct loans to eligible automobile manufacturers and component suppliers for projects that re-equip, expand, and establish manufacturing facilities in the U.S. to produce advanced technology vehicles and components for such vehicles; and
• Protect U.S. taxpayers by ensuring the loans and loan guarantees we provide have a reasonable prospect of repayment

Please show me where it says "Make A Profit"?

If your objective was to make a profit, Would you let the government manage your money?

 

[CompTrex]

[snip]

If your objective was to make a profit, Would you let the government manage your money?

Can you say Social Security?
*Throws bomb...runs out of room!*

 

[WilliamH]

Can you say Social Security?
*Throws bomb...runs out of room!*

Let's not even go there.

 

[Spyche Chaos]

There have been multiple reports in the media indicating that this round of ATVM loans will be focused less on automakers and more on component manufacturers/suppliers (Alcoa just got 200 million + to increase high strength aluminum alloy production). I'd look for EM to stress their engine production capabilities in future discussions / applications for ATVM funding.

 

[Rickb]

Can you say Social Security?
*Throws bomb...runs out of room!*

 

[Rickb]

There have been multiple reports in the media indicating that this round of ATVM loans will be focused less on automakers and more on component manufacturers/suppliers (Alcoa just got 200 million + to increase high strength aluminum alloy production). I'd look for EM to stress their engine production capabilities in future discussions / applications for ATVM funding.

That is an excellent point, I hope that building the highly efficient engine at the Shreveport plant was stressed in their original ATVM loan application.

 

[Spyche Chaos]

A "reputable" link regarding Alcoa's loan-

http://www.bloomberg.com/news/artic...-restart-of-maligned-u-s-clean-energy-program

 

[John Painter]

That's how I feel about EM production targets.

I'm not seeing an actual feeling expressed. Are you saying you feel angry with Elio Motors because you value trust, and Elio Motors has not met their stated production targets?

 

[Ty]

I give up.
We can't say or do anything without being accused of some political bend.
Man, I just linked to a news story for crying out loud...

Not that it means anything but I didn't think you had a political bend there. I saw that you had seen an article and posted it here. That's all.