So far over fifty percent of the companies listed on the Kleiner Perkins Caufield & Byers Greentech Portfolio, of which KPCB partners are positioned on the board of many, have –– directly and indirectly –– received money from the "Obama Green Stimulus" package as well as through other government programs approved by the Obama administration.
AL GORE’S FISKER AUTOMOTIVE $529 MILLION DOE LOAN IGNITES RED FLAGS
One of the most blatant examples of government favoritism, catching headlines in the Wall Street Journal back in September 2009 (Gore-Backed Car Firm Gets Large U.S. Loan) was the $529 million dollar government loan guarantee (which was cinched in May 2010) that Fisker Automotive received to build its high end, hybrid sports coupe, Fisker Karma, to be manufactured in Finland and sold for $89,000. Fisker Automotive was a 2008 investment for Kleiner Perkins and it was confirmed that Gore has already purchased his Karma.
In June 2009 the DOE announced three other large government loans that included $5.9 billion to Ford Motor Company, $1.6 billion to Nissan Motors, and $465 million to Tesla Motors. Although the four loans came out of the DOE's $25-billion Advanced Technologies Vehicle Manufacturing (ATVM) Loan Program, it was approved by the Obama administration and it did ignite some red flags.
As reported by the Wall Street Journal, "the awards to Fisker and Tesla prompted criticism from groups that question why vehicles aimed at the wealthiest customers are getting loans subsidized by taxpayers" and "concern from companies that had their bids for loans rejected." Included in the reaction was Leslie Paige, a spokeswoman for Citizens Against Government Waste. "This is not for average Americans. It's status symbol thing," Ms. Paige added. More gripping is the fact that this favoritism didn’t sit well with some of the firms that were turned down for loans from the DOE –– stating "they did not get much feedback from the department about their applications" and "were unable to get a full explanation as to why their loan request was turned down."
THE VINOD KHOLSA CONNCECTION
The CEO of EcoMotors John Colettie, whose $20 million ATVM loan from the DOE was denied, didn’t have an “issue” with the winners. Probably because EcoMotors' lead investor is Vinod Khosla, an affiliated partner of Kleiner Perkins, whose firm Khosla Ventures has also invested in some of the same companies as Kleiner Perkins, which have received government funding including Obama Green Stimulus cash. Those companies include; AltaRock Energy Inc., $25 million grant from the stimulus; Amyris Biotechnologies, $25 million grant from the stimulus; and Mascoma Corporation has received state and federal grants from the DOE since 2006, totaling over $170 million and as recent as 2008, received another $49.5 million in funding from the DOE and the state of Michigan.
Article comments
— go to most recent comments1 - Zedd
Now what is the scam?
Is it who got the loan?
Why they got the loan?
That the product that they rcvd the load for didn't work?
That they spent the money on something that does't exist?
Trying to understand the scam.
Thanks
2 - Arch Conservative
It's all the rage and perfectably acceptable to not only question but impugn the motives of anyone who disagrees with AGW as an ignorant, uneducated nutcase. Any climatologist or other scientist, regardless of their breadth of experience with the subject, is immediately and summarily labelled as a shill for the oil industry.
On the other hand we're not allowed to examine Al Gore's motives. Apparently in addition to inventing the internet, Mr. Gore has some kind of telepathic sixth sense that allows him to commune with mother earth so that he knows with absolute certainty the affects that all human activity have on the ecosystem right down to the most minute.
Not only that but since Mr. Gore was cut from god's own cloth this very morning he's completely altruistic and is incapable of seeking to deceive or mislead others.
When I was back in college I used to have to inhale the smoke of burning flora to believe such things. Liberals walk around in their natural state believing such things. How lucky they are.
When it's all said and done Al Gore is going to go down as a huge joke. Nothing more.
3 - Zedd
Arch
You went to college?
4 - Arch Conservative
mmmm..yes and I got accepted to grad school at Boston University.
5 - handyguy
This looong article, which has Dave Nalle's fingerprints all over it, makes attention-getting claims about 'left wing extemists' [Al Gore, centrist Southern Democrat? an extremist? really? only when measured by a warped yardstick] and global domination by progressives. Oooh, scary!
Christine never explains why large grants involving people whose politics are to the left of hers [i.e., most of the world] are any more ominous or illegal than the gigantic back-scratching deals by right-wing businessmen and politicians that have been going on for decades. [Two sets of brothers as examples: Koch and Wyly.]
Gigantic conspiracy theories are a big draw here on the interwebs. But Brown and Troxler, esteemed authors of Obama Unmasked: Did Slick Hollywood Handlers Create the Perfect Candidate?, have a partisan agenda to push, and facts are secondary. [So does the author of this article.] Facts are almost always casualties of dumb conspiracy theories.
6 - handyguy
And OMG, it's only Part One.
7 - handyguy
The Brown/Troxler book is published by WND Books, as in WorldNetDaily, the birther/conspiracy-mongering site whose own description brags about "aggressive investigative reporting and gossip." Grreeat! Don't forget to include the gossip!
8 - jeannie danna
Christine,
I'll have to read this when I have more time...bye
9 - Christine
Handy; FYI. I am not a "birther", or even a global warming denier. However, I don't buy into it hook, line and sinker either. I also believe we should be "greening" our planet and protecting our animals.
That said, since I have spent tons of time observing and researching the "climate change movement," there is a lot more at play than "saving the planet," and on many fronts. That is not to say that there are not honorable environmentalists in the mix. However, there is a shit load of hype, greed, corruption, and "non-honorable" agenda's that have taken over.
Even some on the left like, Matt Taibbi, (Rolling Stone Magazine) can see one of the motives at play. And if you can stand it, I will cover briefly in part two.
The Great American Bubble Machine
BUBBLE #6 Global Warming
10 - John Wilson
I read this article with great interest, but discovered that it really doesn't intimate any real scandal. There are a lot of contracts, relatively small, across a wide range of 'green' projects, which mostly sound pretty worthwhile.
I eagerly await a more solid expose'.
But just repeating the knee-jerk slams against Al Gore and Global Warming seems to serve no purpose other than re-enforce the ire of The Faithful.
If you're looking for a real scandal in progress, take a look at the "clean Coal" scam, which absorbs billions every year and yet produces no results. Oh, and it's bi-partisan backed by both Bush and Obama administrations, so attacking the waste and corruption puts one on the Side Of the Angels.
But so far this is pretty insipid. Lots of promise but pitty-pat blows.
11 - Christine
John, appreciate your candor, however, if you think these government contracts are a coincidence then maybe you'll believe "there is a shrimp sale in the Gulf of Mexico going on right now!"
By the way, not disputing that green is good and many of Gore and Doerr's projects are worthwhile. Even love that Karma!
12 - handyguy
Christine, your sort-of conciliatory #11 does not in any way match the doomy portentous nonsense of the first sentence of your article: "alarmingly, hijacked, greed, radical agenda..."
Say what? Dave has taught you well about the methodology of web propaganda. That is not a compliment.
13 - jeannie danna
What is your problem here?
"The Recovery Bill is Breakthrough on Clean Energy, Good Jobs."
No-bid contracts for Haliburton, OK?
Taxpayer money for the banks who won't loan our money back to us, OK?
Top 1% takes in over 90% of this nations' wealth, OK?
So, basically, Christine if there was a Republican President in the white House, then you probably would not have written this article...
:( Anonymous source?
14 - Christine
#13. Bullshit, yes I would have.
15 - Cindy
15 Dear God, Please forgive Christine for saying the 'B' word. Thank you and goodnight. xo
16 - handyguy
BS right back atcha. From its title to the authors you draw on , this is an attack on the president.
You outline case after case of ... nothing. No crime, no wrongdoing, just allegations of a conspiracy by those scary Progressives.
I guess I'm a progressive. I don't think I'm particularly scary.
17 - Cannonshop
#16 Because...(Drum ROLLL...) "It's not a crime when the President Does It."
Richard M. Nixon
18 - zingzing
also, it's cool when your political party does it. WELCOME TO POLITICS!
19 - jeannie danna
Who wrote this?
20 - Zedd
Christine, came of age (politically, I assume) during a time when Republicans state minor facts and blow them up to be whatever they choose them to be for propaganda purposes, thus doesn't see this article (or most of her articles) as thin, and irresponsible. I believe she views the cries for more substance as some sort of left wing tit for tat attack and not a legitimate request for more substance.
21 - jeannie danna
"Every day, the conservative noise machine -- Fox News, Beck, Limbaugh, and other prominent conservative talk radio hosts and bloggers -- hurl false accusations with the hopes of damaging the Obama administration, Democrats, and progressives politically. Make no mistake: this is the primary motivation for the majority of the stories they promote. Pesky things like "facts" and "reality" are, at best, a trivial concern.
Often, these attacks are baseless, easily debunked, and laughably absurd -- yet conservative media outlets rarely (if ever) offer corrections when they are proven wrong. Instead they either double down on their attacks or simply ignore that they were wrong in the first place and move on to the next overhyped bit of nonsense." - Media Matters
22 - Arch Conservative
I guess conservative news outlets should hold themselves to the same high standards that are employed by liberals huh jeannie...
What's the term........
"fake but accurate"
23 - jeannie danna
Arch,
Are you calling Media Matters fake?
I will agree with you on one point, they certainly are accurate.
:)check em out!
24 - Zedd
jeannie,
I think what sustains the farce is little or no public outcry. We complain among ourselves but we obviously don't make enough noise.
We need to have conversations on how to turn this destructive machine around. The tactics and personalities that you posted about are destroying this nation.
These forces are impeding progress both socially and economically. Their rhetoric made the crisis that we are in, possible. They are stealing independent thought and in essence, liberty from the American people, through trickery. The intentional dissemination of disinformation for personal gain is beyond dishonorable. What is most despicable is that it is done under the guise of love for liberty and all of the symbols of this great land.
So where do we go from here?
25 - jeannie danna
When is the GOP going to tell us all to go eat cake? low-fat and healthy
I believe that we are all accidents of birth. The quality of our lives is determined by many factors, but the largest factor is...Were you lucky enough to be born into the lucky-sperm club?
That is exactly how I see the utter greed and callousness to those without displayed by those who lament for their money the loudest.
Even Fox is finally calling some on the carpet:
Wallace hammers Boehner, McConnell on own their ethics problems, those of their caucuses.