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company here to discuss. sometimes innovation costs money. they have not turned a profit. you have to stick to it. wait a minute. the government thinks it can pick winners and make money. well here s another example that it cannot. smith electric has lost $30 million of your money, taxpayer o get out s gone. there and create electric vehicles for municipal governments. they created a few and the jobs they were supposed to create cost $414,000 of your money per job created which has now been lost. is this what they meant by the tight cash flow situation that they quoted. double speak for we re losing money and closing down. we have graphics to show folks how your hard earned money was wasted. and they re right there. yeah. $414,000 per job. great work if you can find it. now move on to inner wand. we lost $118 million on that
the economic angle today. reporter: welcome to this setting we found in kansas city. just to my right is smith electric. it s a police that makes electric batteries for large delivery trucks. your coco cola, pepsi truck, cable trucks, those kind of electric batteries are now supported by the recovery act. president obama is going to come here and talk about how the initial infusion of stimulus cash plus the investment that initial investment leveraged created jobs in a green economy. he s going to have a fund-raiser. to put those jobless claim numbers in context, yes they h-r down 21,000 from the previous week but the rolling four-week average is still about 466,000 initial jobless claims, that is the highest, martha since march of this year and to some degree statistically undercut the president s message that the economy is recovering solidly
ahead to 2012. the overtone unmistakenably political, contessa, yes. he s stopping here at smith electric. you can see fine smith electric products behind us, beneficiaries of $32 million in stimulus money. they make all electric trucks, 100-mile range. they re used mostly for deliveries in an inner city or urban setting. he has two fund-raisers for an individual named robin carnahan of the missouri carnahans, a well-known political family here. she s running against roy blount who s represented a district in southeastern missouri for many years. the last time the president was here in missouri, robin carnahan was somehow not here with him, raising a lot of questions at the time that perhaps she didn t want to be seen on the same stage with the president. she said, no, she happened to be back in washington of all places on capitol hill talking to very important people. this time she s back, two fund-raisers with the president, $30,000 a couple at one of them.
and is in the midst of what the white house likes to call recovery summer. the president is going to come here and talk about what is happening at smith electric, with the back tkropb of persistent unemployment across the country. martha: let s talk a little bye of politics major. this is the first time that he is appearing with robin carnahan. what is it about his choice to go out there and support her specifically. reporter: for whatever reason robin carnahan was out of the state. this time they ll be together in kansas city. there will be two fundraisers there one a high dollar there, 1,000 to $30,000 to attend then. one. then they have a grass roots razor, the tickets were priced from $35 to $250. because the economy is tough here they had to slash the