More Bailout Fun
First, the nonsense — signaling the illogical end of this process, the…ahem…adult entertainment industry has put in for its share of funds.
Next, the impossible overreach — a Massachusetts firm has put in for $1.84 billion loan to construct production facilities. Now, don’t get me wrong — I hope the company succeeds in its efforts to make next generation batteries that might catalyze the use of more electric vehicles. But, for a company with around $40 million in yearly revenues and only $205 million in assets, this is a massive bet with our money on a specific company and a specific technology. Its good business on the company’s part — they’ve found an investor willing to take equity-type risk that only demands debt-level returns (and no control). But its terrible business and economic policy, on the government’s part.