Friday, April 26, 2013

Fisker Congressional Hearing - Bringing In Kleiner Perkins

UPDATE   One of the regular readers of The Green Machine alerted me that Kleiner Perkins has removed Ray Lane as an active Partner involved in Green Tech and is now a Partner Emeriti

Just two days I saw he was Al Gore's and John Doerr's sidekick as a Greentech team member

Ray Lane as the fall guy has fallen fast.  I hope to see that the next two to drop out and become Emeriti will be Doer and Gore.  This will soon happen for the good of KPCB, America and the entire world.  

I suggest you all read the link below.  It is an article by Kim Strassel of the Wall Street Journal

I have extracted the following from Ms. Strassel's article.

Fisker Automotive featured in a House hearing this week, as congressmen questioned how that luxury electric-car maker—now in financial straits—ever qualified for a $529 million federal loan guarantee. The Obama Energy Department is facing some awkward questions—a la Solyndra—about what role politics played in granting that subsidy.

Perhaps we need not guess. For an excellent study in how green-energy cronyism works, look instead to the near miss (for taxpayers) of Next AutoWorks. That startup applied for a $320 million federal loan guarantee in 2009, promising a Louisiana factory that would produce cheap and fuel-efficient cars. Next didn't, ultimately, get its loans.

Next had lots riding on the loan guarantees, including $67 million in grants from Louisiana. Yet by early 2010 the Energy Department had rejected the company's initial application. Kleiner Perkins partner Ray Lane stepped in as interim CEO, and Next revised its application. Yet even as an entirely new CEO took over in October 2010, the emails show it was Kleiner working the phones and offices in Washington to land Next its money.

Yet that doesn't stop the political team or Kleiner Perkins. Mr. Fisher informs Mr. McCrea several days later that he'd spent a "very long day yesterday with Next (10 am-5.45)" and that "Jonathan (Silver ex official of the DOE in charge of the electric vehicle loan program) talked to John Doerr and Ray Lane on the phone at the end. They agreed we need to have 2x/week calls to status." Despite the credit department's obvious disdain, the process would drag on through the September 2011 Solyndra bankruptcy. In October, Mr. Silver resigned; in November, Energy pulled the plug on Next. Kleiner Perkins did not respond to a request from the Journal for comment.

The Energy Department has long claimed that its loans were made on merit, and that in this case merit won out. Yet would that have been true if Solyndra hadn't happened? The emails show how well-connected benefactors used their political pull to go around credit officials and try to drive the process "top down." This is called "politics," and it underlines the folly of government moonlighting as an investor.

Was the process for Fisker (also backed by Kleiner Perkins) the same? The Obama Energy Department is keeping tight rein on documents, so we don't know. But the Next story shows we ought to. 

A few weeks back I blogged that Ray Lane resigned from the position of Chairman of Hewlett Packard so "he can concentrate on being the fall guy for Fisker and Kleiner Perkins".  But it won't stop there.  Fiskergate will bring in even bigger fish than Ray Lane.  It will haul in John Doerr, Al Gore, Colin Powell, and possibly Joe Biden.  A minnow that may also get caught is Delaware Governor Jack Markell.  Jack Markell wanted those Obama Good Paying Manufacturing Jobs.  Poor Jack slept with dogs and only got fleas.  Jack has to be scratching his head as well as the rest of his body.

Lane, Doerr, Powell, Gore,Biden and Markell thought and believed the price of batteries would drop real fast.  Way back in early 2010 The Green Machine told the US Senate and you all that batteries would not drop in cost.  What has dropped is the big sword of the second law of thermodynamics.   When Ray, John, Col, Al, Joe, and Jack are called for the upcoming hearings (and they should be called soon I hope) the only thing electrified in the room besides their testimony will be the chairs they sit in.  Actually I can see Al Gore and his five friends from the gang of six pleading the fifth.  There is now a fifth law of thermodynamics that goes as follows:

When any pretend green organization has Al Gore involved, that organization will eventually go stone cold and reach an absolute temperature of zero and a net worth of also zero.         Al Gore is brilliant at talk but really is clueless when it comes to physics.




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