Advertisement
Biden Administration Will Loan $6.6 Billion to Rivian
President Joe Biden's administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup automaker struggled to become profitable.
Menu
Front Page Breaking News Comments Flagged Comments Recently Flagged User Blogs Write a Blog Entry Create a Poll Edit Account Weekly Digest Stats Page RSS Feed Back Page
Subscriptions
Read the Retort using RSS.
RSS Feed
Author Info
GalaxiePete
Joined 2007/12/17Visited 2024/12/27
Status: user
MORE STORIES
DoJ Indicts 14 North Koreans for IT Worker Fraud Scheme (2 comments) ...
China's Hypersonic Jet Flies at Blazing 6.5 Times the Speed of Sound (20 comments) ...
Biden Administration Will Loan $6.6 Billion to Rivian (21 comments) ...
Elon Musk Keeps Saying Trump Will Tank the Economy (22 comments) ...
Trump to Netanyahu "Do what you have to do" (4 comments) ...
Alternate links: Google News | Twitter
Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.
I am going to bet they do everything they can to close the loan before the handover. You can bet this is burning Elon's short hairs and a giant flip of a finger to Trump.
#1 | Posted by GalaxiePete at 2024-11-26 09:47 AM | Reply
Fusk Muck
#2 | Posted by LegallyYourDead at 2024-11-26 10:29 PM | Reply
Those fat ------- losers want a war?
Fine
#3 | Posted by LegallyYourDead at 2024-11-26 10:30 PM | Reply
Yeah, I'd be wanting to comment more on this...
Biden administration finalizes nearly $8B in CHIPS funding for Intel thehill.com
... ntel will receive about $7.86 billion in funding from the CHIPS and Science Act to build new semiconductor manufacturing facilities across four states under its finalized agreement with the Biden administration. The final award is over $600 million less than the $8.5 billion initially announced in March, after the chipmaker received a separate $3 billion contract with the government in September. "The CHIPS for America program will supercharge American innovation and technology and make our country more secure " and Intel is playing an important role in the revitalization of the U.S. semiconductor industry through its unprecedented investments across Arizona, New Mexico, Ohio, and Oregon," Commerce Secretary Gina Raimondo said in a statement. ...
The final award is over $600 million less than the $8.5 billion initially announced in March, after the chipmaker received a separate $3 billion contract with the government in September.
"The CHIPS for America program will supercharge American innovation and technology and make our country more secure " and Intel is playing an important role in the revitalization of the U.S. semiconductor industry through its unprecedented investments across Arizona, New Mexico, Ohio, and Oregon," Commerce Secretary Gina Raimondo said in a statement. ...
#4 | Posted by LampLighter at 2024-11-26 10:37 PM | Reply
@#4 ... its unprecedented investments across Arizona, New Mexico, Ohio, and Oregon ...
So, spread across two states that went for Pres-elect Trump and two states that went for VP Harris.
Would Pres-elect Trump distribute federal money like that during his term in the Oval Office?
Or would Pres-elect Trump want to punish the states that did not vote for him?
"Promises made, promises kept."
The retribution Presidency.
#5 | Posted by LampLighter at 2024-11-26 11:43 PM | Reply
Considering the precarious situation of aTiwan and the dependence of American manufacturers need for the chips they make; we need to help our chip manufacturers grow large enough so that our nation won't be forced to buy them from China. I don't know that we need to be loaning billions to Rivian so they can build huge EVs that most Americans will never be able to afford. Today GM and Ford are building EVs in growing numbers facing stiff competition from hybrids which are better suited to the longer distancea Americans use their cars to travel. Personally, if I were looking for a new car it would be a hybrid; it would definitely not be a $70,000 Rivian.
#6 | Posted by danni at 2024-11-27 05:23 AM | Reply
#1 | Posted by GalaxiePete at 2024-11-26 09:47 AM | Reply | Flag:
Super scared bro, for realz, of a failing company in an industry where most electric startups fail, that sells less than 1% of what Tesla does quarterly.
"Rivian reported a net loss of $1.08 per share in Q3 2023, and a net loss of $5.4 billion for the entire year. The company is also losing more than $32,000 on each EV it sells."
#7 | Posted by sitzkrieg at 2024-11-27 09:26 AM | Reply
That South African carpet bagger will get really pissy about this news. Good!
#8 | Posted by Wildman62 at 2024-11-27 10:53 AM | Reply
Solyndra 2.0 on steroids?
I hope not but it's on point for Obama/Biden
#9 | Posted by BellRinger at 2024-11-27 12:41 PM | Reply
" Solyndra"
still eating that nothingburger?
#10 | Posted by Alexandrite at 2024-11-27 12:52 PM | Reply
www.politifact.com
The loan guarantee program that helped Solyndra "was a program that was supported by President Bush."
Jeff is just a Reactionary parrot. He regurgitates whatever his right wing leaders tell him to think without any critical thinking skills nor intellectual honesty. Par for the course these days.
#11 | Posted by LauraMohr at 2024-11-27 12:55 PM | Reply
#9 | Posted by BellRinger
I know it's not the $525 billion in PPP loans Trump pissed away.
Or the $50 billion in farm aid.
Or the billions more from Trump to prop up coal and oil.
Or the millions to businesses he and his families are involved in.
But we won't get into that here, right?
#12 | Posted by Sycophant at 2024-11-27 01:00 PM | Reply
#12. Feel free to get into it. The PPP loans weee a result of shutting down the economy.
Oil companies produce more in corporate taxes than they receive in benefits.
But keep deflecting away. It's a strength of yours.
#13 | Posted by BellRinger at 2024-11-27 07:32 PM | Reply
"Oil companies produce more in corporate taxes than they receive in benefits."
Since you are a known liar you saying that is so does not make it so.
I think we will need proof.
#14 | Posted by donnerboy at 2024-11-27 08:33 PM | Reply
Oil companies pay less in taxes than most other companies, and the amount they pay varies depending on a number of factors: -Tax deferral Oil companies can defer paying taxes, which lowers their effective tax rate. -Tax provisions Oil companies can take advantage of tax provisions to avoid and defer taxes. -Subsidies Oil companies receive subsidies because oil is considered a vital commodity. -Tax structure Many oil and gas companies are structured as Master Limited Partnerships (MLPs), which are exempt from corporate income taxes. -International taxes Oil companies pay taxes to other countries, which they can deduct from their U.S. taxes. -According to a 2014 study, the average federal tax rate paid by 20 of the largest oil and gas companies was 24%. However, when deferred taxes are subtracted, their average "current" tax rate drops to 11.7%. -The 2017 Tax Cuts and Jobs Act reduced the effective tax rate for companies from 35% to 21%.
#15 | Posted by donnerboy at 2024-11-27 10:00 PM | Reply
Re 15
If you need a link for any of those statements I can provide them if you can't look them up yourself.
#16 | Posted by donnerboy at 2024-11-27 10:02 PM | Reply
#9
You're a ------- dried up old ---- who's last original thought was taken away by a diaper service.
#17 | Posted by LegallyYourDead at 2024-11-27 10:06 PM | Reply
And none of that includes the cost of military protect of shipping lanes.
#18 | Posted by donnerboy at 2024-11-27 10:11 PM | Reply
The Rivians I have been in outclass any and every Tesla I've seen. By MILES. It's seriously not even close.
#19 | Posted by ABH at 2024-11-28 09:50 AM | Reply
More of our tax dollars down the drain.
#20 | Posted by MSgt at 2024-11-28 01:53 PM | Reply
#8 | POSTED BY WILDMAN62 AT 2024-11-27 10:53 AM | FLAG: 'Methinks' you've no idea what a carpetbagger was - but then again libbies constantly use words they do not comprehend the actual meaning thereof...
#21 | Posted by MSgt at 2024-11-28 01:54 PM | Reply
Post a commentComments are closed for this entry.Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2024 World Readable
Comments are closed for this entry.
Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2024 World Readable