Don't Believe Fox's Hype: Ener1 Enjoys Bipartisan Support And Is Not "Another ...
Fox News figures have been hyping the bankruptcy filing of high-tech battery manufacturer Ener1, blaming President Obama for its financial problems and claiming the case is "another Solyndra," referring to a solar panel company that went bankrupt last year. But experts have said the case is "no Solyndra," and in blaming Obama for Ener1's bankruptcy, Fox is ignoring a history of GOP support for the company -- including from Indiana Gov. Mitch Daniels, to whom Fox recently gave lavish praise.
KILMEADE: Ener1 was given millions in stimulus dollars -- now it's bankrupt. The company's CEO citing insufficient customer demand. Stuart Varney is here. Stuart, this sounds like Solyndra.
VARNEY: It's another major embarrassment for the president's green energy policy. Solyndra, Beacon Power, and now Ener1. And by the way, Vice President Biden, in that same speech, went on later to refer to it as "Enron 1." ... So an embarrassment for President Obama's green energy policy, another couple of gaffes from Vice President Biden. The place is bankrupt.
[...]
VARNEY: Well, look, Ener1 is a child of the stimulus program. It got $118 million in grants, not loans, grants, to go forward. It is now bankrupt. It was supposed to employ 1,400 people by 2013. It doesn't. It employs 350.
[...]
VARNEY: It's another example of the
government picking winners with our money. Unfortunately, they're losers, and
we lose our money. [Fox News, Fox & Friends, MacCALLUM: So it looks like we may have
another Solyndra on our hands. A third American energy company filing for
bankruptcy after getting federally-backed
funds from the Energy Department through the White House. Now, this time it is called Ener1, the parent company
of an electric car battery maker. Seems that electric car battery sales have
not been so hot. They received a $118 million grant back in 2009. Just last
year, Vice President Biden praised the company when he was there touring their facility.
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It got $118 million in grants, not loans, grants, to go forward. It is now bankrupt. It was supposed to employ 1400 people by 2013. It doesn't. It employs 350. VARNEY: It's another example of the government picking winners with our money.
Auto Finance 60+ days past due rates declined by 19% and Auto Bank 60+ days past due declined by 23% in 2011. Auto loan amount totals were also on the rise with more than $30 billion in new auto loans originated in October 2011.
By Maya Pope-Chappell Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed mostly higher Tuesday as Greece came closer to a debt-swap agreement and most European Union member states finalized a fiscal pact.
» Don't apply for or accept any other new credit for three months to six months before going out to look for a car loan, said Anthony A. Sprauve, director of public relations for FICO. » Keep balances very low on credit cards -- and far lower than the
After all the stories about the big bad banks, it's nice to read a positive story about a big bank. The cover story in for February 2012 by Matt Schifrin and Halah Touryalai makes the case that Wells Fargo [WFC] is “a bank that works”.
The manner in which auto loans have worked for folks a long way ...
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