THE FIVE

Scandinavian Stimulus?

Fisker Automotive gets $529M federal loan to build cars in Finland

 

This is a rush transcript from "The Five," October 21, 2011. This copy may not be in its final form and may be updated.

KIMBERLY GUILFOYLE, CO-HOST: So we have Solyndra, Sun Power, and now, Fisker. The Obama administration grants a $529 million loan to the electric car company. Well, it doesn't sound so bad at first, right?

Listen to this. The cars aren't being made in the USA. No. Yes, Bob, this is true. Frightening but true. They're being manufactured in -- wait for it -- Finland. How is that for stimulation of the good old USA?

BOB BECKEL, CO-HOST: I bet Eric has something to say about this.

GUILFOYLE: You know he does.

ERIC BOLLING, CO-HOST: Well, I do. I mean, this is a couple of years old two loans, Tesla Motors and Fisker, separate loans, half a billion each for the electric car companies. By the way, neither one of these companies ever had experience mass-producing electric cars. But nonetheless, we gave them each half a billion bucks.

BECKEL: Who has that experience doing that? Has there been electric cars running a long time?

BOLLING: I'm not sure that the taxpayers should be on the hook.

BECKEL: Experience, you had experience.

(CROSSTALK)

BOLLING: Whether or not you can mass-produce electric car, very quickly.

BECKEL: Please. Go ahead.

BOLLING: It turns out you can't. Here we are two years later, Fisker has produced two cars, two vehicles.

ANDREA TANTAROS, CO-HOST: Wow.

BOLLING: Leonardo DiCaprio was given one of them. And the other one is who knows?

(CROSSTALK)

BOLLING: But very quickly, no jobs created. No jobs in America created.

And the other one is, who is going to buy $100,000 electric sports car?

TANTAROS: No, $250,000. Sorry.

GREG GUTFELD, CO-HOST: Here's the bigger question.

GUILFOYLE: Yes?

GUTFELD: Why Finland? The theory must be that the bleaker the place, the better car? I mean, they actually found a place that is bleaker than Detroit.

GUILFOYLE: Right.

GUTFELD: Every car should come with a noose. I mean, have you been there? It's 20 -- I've been there. It's 23 hours of darkness during the wintertime. You get up in the morning and you drink. Their primary transportation is a sled.

BECKEL: Don't you think in those 23 hours, there should be a higher population? I can't figure it out.

(CROSSTALK)

TANTAROS: Brian Darling of the "Daily Mail" in England summed this up beautifully. He calls it venture socialism. And it's true. I don't know what's more egregious, the fact that we pay, what, $250 million for one of these fancy cars? Or that Al Gore is an investor in this company and that one of the two cars went to Obama donor Leonardo DiCaprio --

(CROSSTALK)

TANTAROS: This is creating, Bob, a whole new class of people. Vice president, Hollywood celebrities to get special favors. It's cronyism.

GUILFOYLE: Go ahead, Bob.

BECKEL: Is this the best you all can do?

GUILFOYLE: No, not really. Go ahead.

BECKEL: One of the reasons they're doing it in Finland, and only temporarily, is because there is no facility in the United States that's able to produce this car. They want to do it in Delaware but they have to rehab it, which they're doing as we speak right now. By this time next year, that car will be brought to the United States. And there will be 5,000 jobs created. It won't be done in Finland.

(CROSSTALK)

BOLLING: I hear another bet coming out. By these times this year, neither one of these companies will be --

GUILFOYLE: Here we go. Another --

(CROSSTALK)

BOLLING: Dovetail on your comment about Fisker, Tesla, the other $500 million loan, you know who one of their big -- one of the founders, Elon Musk, a huge Obama donor as well.

BECKEL: So what? Al Gore invests in electric cars, is that a big story?

BOLLING: You get 500 million bucks for experiment?

BECKEL: I mean, you think Al Gore is going to invest the industry you used to be in? He's a guy, this is his issue. Of course, he got to invest in it.

And, secondly, if you want to make the bet, I said that that facility would be finished by next year. When they start mass-producing cars I don't know.

BOLLING: No, you said there'll be cars.

BECKEL: OK. Well, I tell you what, Eric, I'm wrong and I'll say -- why don't we have a bet they're going to finish the facility?

BOLLING: I'll have a bet that you are wearing a tie on Monday.

BECKEL: The reason I can't is because the shrimp in my throat, ripped it apart.

GUILFOYLE: Oh, my goodness. Very dramatic.

TANTAROS: This is no different that the jobs bill -- take the taxpayers money and buy off environmental --

BECKEL: Wait, wait.

TANTAROS: -- buy off Al Gore, buy off the unions.

BECKEL: What is wrong with electric cars?

GUTFELD: You know what's amazing?

(CROSSTALK)

BOLLING: Who invests in the electric car? Let the private sector do that. Don't risk taxpayer money experiment.

BECKEL: The private sector won't do that when they continue to the -- dinosaurs --

(CROSSTALK)

GUILFOYLE: They haven't deliver, except somebody else who gets everything? Supermodels and electric cars.

(CROSSTALK)

TANTAROS: But let's listen to Joe Biden --

(CROSSTALK)

BECKEL: Oh, I'm sorry. I thought -- I'm sorry.

TANTAROS: Eric, we're going to listen to Joe Biden and ignore Bob.

(LAUGHTER)

(BEGIN VIDEO CLIP)

VICE PRESIDENT JOSEPH BIDEN: The president and I have never doubted that we could write a new chapter in the automotive history of this country because we knew for real, we not only had the best workers, we had the best innovators, the best designers. And that's what this was about today -- it's about -- it's about what we are about in this administration: rewriting a new chapter for our economy.

(END VIDEO CLIP)

GUILFOYLE: All right. Greg?

TANTAROS: New chapter for his friends.

GUILFOYLE: Yes. Well --

GUTFELD: The amazing thing is Obama really has the touch. We outsource all these jobs to Finland and still the Finnish unemployment rate went up. Is that amazing?

GUILFOYLE: Winning! Winning!

BECKEL: Finland is number one in the world in terms of education, medical care --

GUTFELD: It's actually a great place. I have been there. It's beautiful. But I spent most of my time on a sled.

BECKEL: I flew over it once.

GUTFELD: I was on a sled being pulled by reindeer for a good week.

BECKEL: You're in sled pulled by reindeer?

GUTFELD: Yes, I was. And I ate nothing but reindeer.

GUILFOYLE: Very odd story.

BOLLING: Have you ever tried to pick any of the Finnish women, by the way?

GUTFELD: Bob, that's a discussion for another time.

(CROSSTALK)

GUILFOYLE: Topic for the ski, Bob.

Quick full screen quote, because to be fair, the Department of Energy says that no loan money being spent in Finland. They say the fact is this, no DOE loan money is being spent there. The company operations are supporting hundreds of suppliers and more than a dozen U.S. states. And the bulk of the loan is supporting their effort to build a manufacturing plant at closed G.M. facility in Delaware.

(CROSSTALK)

BECKEL: Can I suggest in the future that when we do these anti-Obama stories, that we might want to put facts like those up at the beginning of the discussion? As opposed to letting Eric put out the bad facts? Are you saying the suppliers are not from the United States?

BOLLING: No, they are trying to say the money that the government gave wasn't spent there. It was spent here. Meanwhile, all the jobs are over there.

GUILFOYLE: I have to tell you, Bob, there is no making you happy. No --

BECKEL: No making me happy? Are you kidding? If you sit in this every day, this is iced tea --

(CROSSTALK)

GUILFOYLE: Let's be honest, you're loving it, OK? You are loving it.

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