Monday, June 9, 2014

China billionaire eyes US market after snatching up taxpayer-backed Fisker

 Bailey: "Get use to it because this is just the beginning. The American Government started selling us out a long time ago!"


Fisker Automotive -- the U.S. electric car company that failed to repay roughly $139 million in federal loans before going bankrupt -- is now owned by a Chinese company eager to unleash its cut-rate acquisition on the American auto industry.
The company’s assets were acquired earlier this year by China's biggest auto parts supplier, Wanxiang Group, for $149.2 million in a U.S. bankruptcy auction.
The company reportedly could start selling Fisker’s ill-fated Karma plug-in car later this year in the United States and Europe.
Billionaire company founder and Chairman Lu Guanqiu has aspired to get into the auto industry since the 1980s and the electric-car business for roughly the past 15 years.
And the acquisition of Fisker and its battery supplier, A123 Systems, which each came with key patents, should make Guanqiu's company well positioned to compete.
Wanxiang acquired A123 Systems in a 2012 bankruptcy sale, after the company failed to repay millions to the same federal loan program that helped Fisker.
"I'll put every cent that Wanxiang earns into making electric vehicles,” Guanqiu, who outbid at least one other Chinese investor, told Bloomberg Businessweek this spring. "I'll burn as much cash as it takes to succeed, or until Wanxiang goes bust."
The remark reflects the opinion of industry experts who think Guanqiu’s determination and record of success could indeed make him a player in the market along with Toyota, whose Prius is the most popular hybrid sold in America.
Fisker received the taxpayer-funded millions through the Energy Department’s Advanced Technology Vehicles Manufacturing Loan Program, which has provided $8.4 billion in funding since 2009.
The program came under scrutiny after the department lost the roughly $139 million on Fisker, which filed for bankruptcy in 2013. Fisker received $192 million from the program before funding was pulled.
The situation resulted in criticism about the Obama administration’s eagerness to back “green-energy” projects like Fisker and failed solar panel company Solyndra, despite indications they could not compete in the marketplace.
The Energy Department also lost about $42 million on a loan to a shuttered Michigan company that made vans for the disabled. However, the loan program had success with electric car maker Tesla Motors Inc., which reportedly repaid its $452 million loan in 2013.
Critics have also complained that Guanqiu didn’t step in to save Fisker and U.S. taxpayers, instead waiting for the bankruptcy sale.
An Energy Department spokeswoman later told reporters: “While the outcome is not what we hoped for, the [agency] explored every option available and closely followed federal legal processes in an effort to get the best possible recovery for the taxpayer.”
Fisker in its five-year run also reportedly burned through roughly $1 billion in private investment money.
The Karma comes with a small gasoline engine that kicks in when the battery runs out of power. Fisker sold about 1,800 models from 2011 and 2012, at about $100,000 each, before a series of problems halted production.
Wanxiang also is reportedly considering completely the development of a second Fisker model -- a more affordable mid-sized, gas-electric hybrid named the Atlantic.
Right now, the new owner plans to produce the vehicles in Finland but reportedly is considering the potential for U.S. manufacturing.

Milwaukee Catholic school parents blast Archdiocese's blessing of Common Core


A group of Milwaukee-area Catholic school parents are fuming over the Archdiocese's decision to implement Common Core at its 110 parochial schools, and some are turning to home-schooling their children.
More than 1,000 parents have banded together and launched a campaign and online petition calling for the Archdiocese of Milwaukee to reverse Archbishop Jerome Listecki’s move at the beginning of the year to implement the controversial, Washington-backed educational standards. Some told FoxNews.com that they send their children to private schools precisely to avoid a secular curriculum they believe is infused with politics and dubiously researched lessons.  
“If I wanted my children to have a public school curriculum I would have sent them to a public school,” Heather Schweitzer, of Kenosha, who recently pulled her daughters Mia, 9, and Chloe, 7, out of All Saints Catholic School and is now teaching them at home, told FoxNews.com. “A Catholic school’s priority is to prepare children for Heaven, not for college.”
“A Catholic school’s priority is to prepare children for Heaven, not for college.”- Heather Schweitzer, Catholic school parent-turned home-schooler
The Common Core State Standards Initiative, an educational testing program begun by the nation's governors with the goal of making public education more uniform from state to state, has become increasingly polarizing this year. Critics say the standardized testing drives curriculum, and the entire program is undermining local control of what kids are taught. Some 45 states initially signed on, but Indiana and Oklahoma have since opted out and opposition to Common Core has increased as it is being rolled out around the nation.
Of the five parishes in the state of Wisconsin, the Archdiocese of Milwaukee is the only one to adopt Common Core. The unusual move has led to speculation from some. Listecki insists that standards at the schools he oversees will not be changed by participating in Common Core.
“Our approach in the Archdiocese of Milwaukee is no different than the approach of other bishops in the State of Wisconsin, namely, that each of us has a strong commitment to Catholic identity, and that commitment shines through boldly in our Catholic schools,” the Archbishop said in a statement provided to FoxNews.com. “Common Core standards are a reference, not a replacement for Catholic school standards. We are not “adopting” Common Core, but rather utilizing those standards, along with our own Catholic school standards, as a way of measuring the success of our students.”
The diocese addresses the controversy on its website, with a letter to parents, sample Common Core-aligned essays and questions and a list of what it calls Common Core "myths."
The parents, who have formed a loose coalition called “Milwaukee Catholic Parents Against Common Core,” and put together a petition that has garnered more than 1,000 signatures, according to education blog EAG news.
The coalition claims Common Core standards represent "untested, experimental standards that are threatening the independence of Catholic schools,” according to a statement. The group points out that the U.S. Conference of Catholic Bishops has said Common Core was developed for a public school audience and is "of its nature incomplete as it pertains to Catholic schools.”
Steve Becker, whose two children attend St. Alphonsus in Greendale, Wis., said Catholic schools have a track record of success and should not follow educational trends that have not been proven. 
“It’s too much of a risky endeavor,” Becker told FoxNews.com. "Personally, I don’t understand why a Catholic school would go with secular standards designed for public schools.”
A meeting Becker had been promised this week with the Archdiocese’s superintendent of schools, Kathleen Cepelka, was canceled last Friday amid concerns the parents had taken their complaints public.
“[She] canceled the meeting because she felt that Mr. Becker had preempted the discussion and engaged the media on a story without giving her/us an opportunity to have a respectful dialogue concerning the implementation of Common Core Standards,” said a spokesperson for the Archdiocese of Milwaukee.
Becker said he is disappointed the Catholic hierarchy would follow the public school trend.
“I would guess that they are doing it because it’s the next thing,” Becker said. “They are just aligning themselves with a trend in education.”

White House reportedly let Bergdahl parents take part in secure video conferences


The White House allowed the parents of Army Sgt. Bowe Bergdahl to take part in a series of secure video conferences with State Department and intelligence officials and senior military commanders, according to a published report. 
The Washington Times reports that Bob and Jani Bergdahl were allowed to join the conferences remotely from the Idaho National Guard headquarters in Boise soon after their son was captured by the Taliban in June 2009. 
A spokesman for the Idaho National Guard told the paper that the Bergdahls participated in up to 20 video conferences per year. 
"Mr. and Mrs. Bergdahl were regularly informed about what was happening throughout the duration using video teleconferencing [with] various military and other government agencies," said Air Force Col. Anthony Marsano. "There was a great effort to keep Mr. and Mrs. Bergdahl updated on developments."
Larry Johnson, a former State Department official who worked on the cases of American citizens taken hostage in Lebanon during the 1980s, told the Times that granting such access to the family of a missing person was "wrong."
"The Bergdahls shouldn't have been part of that for no other reason than on the off chance they may inadvertently divulge some tactic," Johnson told the paper. "I mean, it's one thing for government officials to interview the family, get insights from the family about what’s going on."But to put them in the middle of what is essentially a classified secure video conference is ridiculous."
Col. Marsano told The Times that he was not aware that the Bergdahls had exposed any sensitive information and would not discuss whether the couple had a security clearance or if any classified matters were brought up in the briefings.
Bob Bergdahl has been criticized for expressing sympathy for Al Qaeda and Taliban detainees held at Guantanamo Bay. Five detainees were released from captivity in exchange for the release of Sgt. Bergdahl May 31. 

Hunter Biden’s Lawyers Seek To Toss Felony Tax Charges In L.A. Hearing 😂

Hunter Biden’s attorneys and Special Counsel David Weiss will be at a court hearing on Wednesday regarding President Joe Biden’s son’s felo...