The editorial board at the Wall Street Journal writes today thatit sure is good to have friends in high places, especially during a Democratpresidential administration. EV company Rivian - and major shareholdersincluding Amazon - found that out just before Thanksgiving as the Biden EnergyDepartment headed by Jennifer Granholm decided to gift it with a surreal capital infusion of $6 billion inthe form of a “conditional” loan.
This insane waste of taxpayer dollarsgoes to a company on the verge of bankruptcy that has recorded losses this yearof more than $107,000 per unit sold, a financial fiasco rivaling even theastounding losses recorded by Ford Motor Company’s Model e EV division...
