My motivation to blog about energy today is pretty low yet I feel compelled to write my weekly diatribe on who is gangrene. I will pick on the right side of the isle this week as they too have folks who are out to make green out of green.
First let’s go with Hank Paulsen the Secretary of the Treasury under GW. He is an ex Goldman Sachs CEO and Chairman. Goldman Sachs (GS) is perhaps the most well connected investment bank and was the savior of Tesla after it was technically insolvent on September 29th. Hank is involved with Coda the Chinese American EV company that just laid off 15% of their staff due to dismal sales on their Fully Electric vehicle that looks like a Honda Civic from the mid 1990s. Hank invested in Coda Blue together with Philip Falcone. Falcone is now being charged by the SEC with securities fraud.
Coda is filled with ex GS executives and will likely hit the wall soon unless GS and some of their well-heeled friends pump money into enterprise just as they did with Tesla. GS saved Elon Musk’s Tesla and Elon repaid his friends by letting GS participate in the IPO of SolarCity. You see the whole thing is circular in the matter of back scratching. OK enough about GS and Hank the Yank, who else from the right side of the isle is also gangrene?
Condi Rice is the next person trying to make green from green. Vinod Khosla announced that Condi was joining his organization as a strategic adviser. Condi already is a board member of KIOR the soon to fail wood to oil alchemic company. Remember Khosla has had a hand in Cello, Range Fuels, Calera, and Amyris. Kholsa has Condi Rice and Kleiner Perkins has Colin Powell as “strategic advisers”. I guess it is only a matter of time before Susan Rice is picked up by a leading VC firm to help them on strategy in Rawanda. Hillary Clinton is far too smart and far too capable to go on five Sunday talk shows and act as a movie critic so I doubt she will ever lend her name to Khosla or Kleiner for their gangrene investments.
A 123 stock is now trading for 2 cents a share and the Obama administration will have to rule if the Chinese company that won the auction in bankruptcy can take over A 123. Al Gore’s and Colin Powell’s Fisker is holding off on producing any more Karma’s until the matter of A 123 ownership is resolved. The State of Delaware is still paying the power bill to keep the promised Fisker factory in the First State in a ready state to be equipped to assemble hundreds of thousands of Fiskers. Steven Tyler is singing Dream On.
The Nissan battery assembly plant in Smyrna Tennessee has opened and has assembled some lithium ion batteries for the 2013 Leaf that will be launched next year. The 2013 Leaf will have a new heater that does not drain the battery pack as much. Wow for $1.4 billion in US DOE loans we will have the Re Leaf that may actually get from Smyrna to Cookeville without having to plug into a TVA power line. Interesting instead of 200,000 Leaves forecasted for sale we now have one tenth the number being thrown around by a Nissan spokesman. Perhaps Chu Chu can ask for 90% of the DOE loan to be repaid immediately? It is 116 miles from Smyrna to Chattanooga? This is probably too far for a 2013 Leaf to do on a single charge so it would have to be put on a Chu Chu to get there.