IdleAire not doing well these days? Tell me it’s not so! How can they not do well with all of the grants that were used instead of their own money? With fuel even higher then when IdleAire started, why isn’t everyone flocking to their brilliant solution?

IdleAire’s future in doubt
IdleAire is in financial trouble. It’s serious enough that the company is saying there is “substantial doubt” about its ability to keep operating.

In paperwork submitted to the Securities and Exchange Commission, the Knoxville, TN-based company says it expects to show a net loss of $93 million for 2007.

The Knoxville News Sentinel reports the 8-year-old company has yet to have a profitable year in spite of receiving more than $55 million in government grants.

and the best part:

Meanwhile, WBIR-TV, the Knoxville NBC affiliate, reported that a former aide to Knox County Mayor Mike Ragsdale claims the mayor secretly invested $10,000 dollars of his own money in IdleAire while using his office to steer millions in government grants to the company.

How can these people be losing money? The grants (free money), the political corruption and the prices they were charging truckers, they’d have to be corrupt greedy bastards lining their own pockets from the hard earned money from trucking companies and drivers on top of conning the government into thinking they were some kind of “green” magic bullet. They could have ridden that gravy train for a long time. Some people are just greedy.

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