Archive for the ‘scam’ Category
October 22nd, 2011 | 
Author: Fisker in Finland: ABC News Uncovers Another Obama Green …
carspike.com10/21/11
RUSH: ABC News has a huge story here, and it cannot get any traction. And the reason it cannot get any traction is because Obama and Biden are running around.
Fisker, electric carmaker backed by $529 million US loan, balks at Solyndra … – Washington Post
Mother Nature Network (blog)Fisker, electric carmaker backed by $529 million US loan, balks at Solyndra …Washington PostThis week, Fisker delayed until 2013 the production of the moderately priced family car it plans to build in Delaware. It also l …
ABC News just reported that an electric car company that received a $529 government loan is now manufacturing the cars overseas.
Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs.
But two years after the loan was announced, it’s been revealed that the cars are being assembled in Finland.
So why is that?
Henry Fisker says:
"There was no contract manufacturer in the U.S. that could actually produce our vehicle. They don’t exist here".
"The U.S. money has been spent on engineering and design work that stayed in the U.S. and not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive".
"We’re not in the business of failing; we’re in the business of winning. So we make the right decision for the business. That’s why we went to Finland".
The loan to Fisker was part of a $1 billion bet the Energy Department made on two politically connected California-based electric car-makers producing sporty and very pricey cutting-edge autos.
Fisker Automotive, backed by a powerhouse venture capital firm whose partners include former Vice President Al Gore, predicts it will eventually be churning out tens of thousands of electric sports sedans at the shuttered GM factory it bought in Delaware.
And Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin, says it will do the same in a massive facility tooling up in Silicon Valley.
This scandal coming on the heels of several other failed loans to companies such as Soyndra is very bad and very embarrassing news for the Obama administration.
Posted in 2012, administration, auto sales, automakers, Biden, economy, financial crisis, financial system, politics, presidential elections, scam, Unemployment, US economy, video | 
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Following a request by the Federal Trade Commission, a U.S. district court judge imposed a telemarketing ban on a Canadian operation that targeted U.S. consumers with false claims that it could reduce their credit card interest rates.
The court entered a permanent injunction that;
1) Effectively puts the defendants out of the telemarketing business.
2) Bars them from misrepresenting that they are affiliated with consumers’ credit card companies.
3) Bars them from claiming that they can get consumers’ credit card interest rates reduced.
4) Ordered the defendants to pay more than $7.8 million.
According to the FTC’s complaint, the telemarketing operation defrauded approximately 12,000 consumers out of more than $7.8 million between 2005 and 2007 by falsely claiming that it could significantly reduce consumers’ existing credit card interest rates, thereby saving them thousands of dollars in both interest and finance charges.
The defendants falsely stated, or implied that they were affiliated with consumers’ credit card companies and for $675 plus $20 shipping and handling, the defendants sent consumers promotional materials that included promises to significantly reduce their interest rates.
The complaint alleged that the defendants promised to reduce the interest charged on their credit cards to between 4.75% and 9%, and save consumers at least $2,500.
The company operating the scam simply set up three-way telephone calls with consumers and their credit card companies, and then requested reductions in interest rates.
The FTC charged that the defendants’ misrepresentations;
1) Violated the FTC Act and the Telemarketing Sales Rule (TSR).
2) Violated the TSR by “spoofing” telephone numbers so that their calls appeared on consumers’ caller identification services as coming from another number.
3) Failed to provide the names of the defendants or their telemarketer on caller identification services.
To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357) or visit their website.
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