New Hampshire Will Bailout Failing Newspaper
by PubliusFrom the Nashua Telegraph:
The state of New Hampshire last week agreed to guarantee 75 percent of a $250,000 loan from an Upper Valley bank to the new owner of the Eagle Times, an unusual deal because it involves a daily newspaper and the government it covers.
The Executive Council on Wednesday unanimously approved without debate the “working capital loan guarantee,” which would be administered by the New Hampshire Business Finance Authority.
Under the deal, the BFA and the state would be liable to pay up to $187,500 to Connecticut River Bank if Eagle Printing & Publishing LLC defaulted on the $250,000 line of credit it would receive from the bank.
Eagle Printing is the entity created by a small Pennsylvania-based newspaper chain which bought the Eagle and a handful of weekly papers out of bankruptcy in September.
The loan from the Charlestown-based bank, which has had ties to the Eagle’s previous owner and publisher, has not yet been finalized but is expected to close this week, according to Mike Donahue, a senior credit officer at the BFA.
“We were approached by the bank to provide a guarantee for a business they felt was going to have some success, and hire back some jobs that are critical to the area,” Donahue said in an interview Friday. “We agreed with the bank’s assessment, and we agreed to present it to the governor and council.”
The loan would include an initial interest rate of 4.99 percent for the first year, and then be adjusted monthly to equal the prime rate plus 1.25 percent, according to a BFA summary of the deal.
“The Loan proceeds are to be used by Eagle Printing & Publishing LLC to provide working capital support for its distributing operations,” the summary stated.
Read the whole thing here. Of course, we don’t expect this to impact the paper’s coverage of New Hampshire state government. No word on whether New Hampshire will change its moto to “Live Free or Die…or get a government bailout.”
Email this to a friend | Print |
Share on Facebook
| Tweet this
| 
Follow Us on Twitter
Subscribe via RSS
Got a Tip?
121 Comments
An adjustable rate loan? That sounds smart….
As soon as a government entity, whether it be in the form of a Local, State or Federal agency takes part in the financial rescue or condition of a newspaper, that newspaper has forever lost it's IMPARTIALITY ! Its readership and subscription base will start to erode significantly as government injects its columnar propoganda.
Take heed owners…. You only have to think back a few months….
What a great investment, state run media, people just cant get enough!
They also invested in Iranian Voting booths and GM
[...] This post was mentioned on Twitter by John Watts and Big Government, DNC Fail!. DNC Fail! said: #tcot #sgp #orca New Hampshire Will Bailout Failing Newspaper http://url4.eu/jFJk [...]
Gee, I bet this failed RAG will be *super* objective in coverning state government now, huh?
It should be renamed the PRAVDA / eagle Times, in honor of it's inspiration and ~business~ model.
If the paper is failing due to lost rev. and readers how is a loan going to help. Papers are for the most part biased and deserve to die
I'm sure this newspaper will be even more fair and balanced than ever before.
Uh, I don’t get it. Why bail it out?
So it begins.
First the States, then the Federal government. That's not fishy at all…naw…
So how much autonomy, and I'm presuming this being New Hampshire, is this little lefty rag going to have with the state government as their underwriters?
Wait until the Big Mothership of lefty partisan crud financially swoons again and see how fast the Dems figure out a way to Pravdatize them officially. If Carlos Slim's money can't save them, let them run bake sales in their lobby.
Social comments and analytics for this post…
This post was mentioned on Twitter by Drudge_Siren: New Hampshire to fund loan to save ailing newspaper … http://plu.gd/4dL…
So basically the gov will own the newspaper. I wonder how much "hard hitting journalism" will be in that newspaper? Probably just Glenn Beck hating, Teabag hating articles…
One step closer to our Gov owning everything!
Wouldn't be anything new for that paper anyway. the Upper Valley (NH / VT border) is chock full of moonbats, beatniks, and malcontents. This is a typical move for the new government in NH, which is now populated by trust funded lefty blowins from mass, ny, and nj. Live Free or Die is as dead as fried chicken thanks to massive voter fraud brought in by the motor voter act.
Should change it's motto to "The news you have to read, whether you want to or not". Another good motto, "Might as well read it, you're paying for it"!
If you live there, it may be time to move… just an observation.
Why would the bank want the government to guarantee a loan for a business they thought would be successfull? Also did the bank pay a guarantee fee for the guarantee which is good practice or do the tax payers of NH have to take the risk with no reward?
“We were approached by the bank to provide a guarantee for a business they felt was going to have some success…" Let me get this straight. The bank is so sure this is a sure thing they just wanted to share the glad feelings with the entire state. Oh well…
Maybe the Government will finally get some favorable press.
Don't see the point of this. Newspapers are doomed anyway because of free news online. Of course at some point people will miss all those reporters and editors when blogs have nowhere to link to.
And why not? The papers are just mouthpieces for the leftist-control government… nothing more. So it stands to reason they would want to fund them. Now they can fully take over and use them without guilt.
LOL!!!!!
I love the last line. "Of course we don't expect this to impact the coverage of New Hampshire State government.
Apparently this is the first time this man has made a deal with the devil.
Idiots on parade.
Like Margaret Thatcher observed socialists eventually run out of other people's money. They will. After they trash the place the moonbats will move on and colonize somewhere else, well, if they have any decent jobs or money left. Look no farther than California for the classic cycles of lefty hubris stupidity.
And, nevermind that the Dems are going to tax and eat these useless Trustafarians, urban transplants and artsy NH liberals alive in time.
I doubt you have ever tried to find Claremont news online. It's largely overlooked by newspapers in Lebanon, Keene and Concord and in TV coverage too since there isn't really a local station.
I have lived in NH for most of my life, and it is becoming barely recognizable to me. This is the first I hear about this, and it's disgusting. I wonder if the same deal would be offered to the Manchester-based conservative Union Leader if they found themselves in the same situation. Don't think so.
[...] New Hampshire to fund loan to save ailing newspaper [...]
I forget, what was the First Amendment about again?
Maybe if your crap doesn't sell you should try something different.
Does the Internet reach NH yet?
You're right I don't know much about news in that area. It's just my opinion that newspapers everywhere are going to struggle because of the internet and I don't see the point of propping them up. But maybe if they really serve a community they will do ok.
I am just sitting here shaking my head in disbelief and sorrow. I moved from VT to be in a conservative state, so sad.
I see this like co-signing a loan for your kids. The govt. co-signed the loan because the newspaper wasn't credit worthy.
So yes, the tax payers are on the hook if the paper defaults (which it will…)
State government economic development/finance authorities guarantee loans all the time for all sorts of businesses large and small. And as far as local newspapers being leftist, I'm sure the ad conscious publishers of these mostly chain newspapers would tell a different story. I've been involved with local papers for a long time and they are more apt to reflect the establishment/local chamber of commerce brand of community boosterism, then any sort of leftist agenda. I'm really not sure what most of these comments are about, aside from knee jerk reaction to an article that includes the words "government" and "bailout."
Good Bye America! When the Government buys into the "Free Press" we are doomed!
The wire services that most papers draw from aren't going under. It isn't going to effect bloggers that much if papers go under. Most of us have moved on to quality blogs for editorials.
Maybe some NH 'reporter' will feel a thrill going up his leg?
The fall of Rome continues……
The Newspaper this article was originally published in (the Nashua telegraph) is the paper for my home town. I've never heard of the Eagle Times but the Telegraph is usually pretty balanced.
If people are worried about the state bailing out a paper because a liberal-spin paper they shouldn't be. If the paper needs a loan it's because no one is reading it, and loaning them more money probably won't fix the problem. I don't think the state should be backing this loan up however, it's just a waste of taxpayer dollars.
Good move getting out of VT, George. Unfortunately there really aren't any conservative states when you look at how the Obama admin has taken over the industries that affect every state…the banks, the insurances, the union pay-backs being lined up, the autoindustry, the student loans, education(" BHO,mmm,mmm,mmm").
The list goes on. We moved from VT in 2006 to PA, and while the midstate (Harrisburg area, not city), meaning so. central PA is more conservative, the vastness of the state government makes reform almost impossible. There's talk of a constitutional convention, but with a huge # of full time, highly paid members od the PA house and senate where "walking around money" is the theme of the day, that looks unlikely.
Best of luck Living Free…but don't die…keep up the good fight and "don't let the Bstrds get you down" to paraphrase Kris Kristofferson
You should check out the Free State Project (NH based). I wonder where they are on this.
How will wire services make money? Blogs don't pay them.
Time to change the state motto to “Bailout or Die”.
http://www.RightWingInc.com
Anti-Liberal Bumper Stickers
This probably wouldn't have happened if people would buy and read the local newspapers instead of getting all their news from the internet. How many people who have made comments on this article actually patronize their local newspapers .
[...] BigGovernment, Nashua [...]
I was born and raised in NH most of my life, but now live in another state. NH used to be a conservative state until all the liberal transplants from MA migrated north due to the high cost of living there. NH needs to change its motto from "Live Free or Die" to "Live Liberal or Die" – It makes me sad to see what NH has become when you consider its place in history dating back to the Revolutionary War.
What Constitution?
The first amendment states that Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the PRESS; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.
Government control of the press!
The Sate of New Hampshire funding ’s guaranteeing loans for a private paper doesn’t sound like freedom of the press to me? Sounds like Marxism, Socialism, or Obamaism . Look at Ahmadinejad, Chaves, Castro, Putin, etc how control their press.
New Hampshire’s motto “Live Free or Die” is dead.
I've lived in NH my entire life and watched it change like the leaves from a bright vibrant alive and independent state to one that is diseased and dying. We use to be an island of sanity in a sea of idiocy but that is no more. We are now the live dead and die state. Way to go Gov Lynch.
I wonder what the leanings of this newspaper are to begin with? Dem Senator Ho Chi Kerry is on record for wanting to get bailout money for the Boston Globe, a Dem Party newsrag if there ever was one. I'm sure he and his staff are watching the details here with a lot of interest. This is wrong on so many levels. Besides the obvious questions about how effective the paper can be in holding govt officials accountable (if they even do that now to begin with), what might the lender receive in the way of benefits from such a deal? They will now have possibly two entities who are beholden to them, the state and local govt's involved, and the paper itself. Might this lender thus be in a position to escape some scrutiny, or publication of any wrongdoing at some future time?
Likely this is a test model for the Man-Boy Kenyan Narcissist and his Marxist minions in the White House.
What about the seperation of press and state? Shouldn't it get at least as much attention as church and state?
I think the issue here is that people are sensitive to the fact that we have a totalitarian statist marxist narcissist in the White House who doesn't like anyone criticizing him. The financial bailouts by this twit have been voter pay backs to his wall street and union cronies with tax payer money. Try to see it in terms of Bush bailing out those military industries that you lefties hate so much. This example of a government bailout of a small newspaper represents a micro example of the socialist freedom taking, one party rule mentality of those who are ruining our country and it's constitution. You, sir can spin it however you want, but we who oppose the empty suit phony in the White House are just getting warmed up.
So what happened to "Live Free or Die"?
Got Pravda?
Gee, how did I know it wasn't the Manchester Union Leader?
Liberals must be stopped by any means necessary…
Oh my Gosh! First the government has entire control of the main stream media and now they got The Eagle Times. When will it stop people? Wheeeeen!?!?
I can smell the all knowing knowledge of the one that surely knows all and can perdict everything and this know all knows all about "GOVERNMENT" & "BAILOUT" WOW and all sorts of things that are large & small. You certainly are a "CONTRARIAN"
NH used to be conservative. Make it on you own. Oh, you say liberal Dem govenor! Who's idea wsa that. Gues who the ppaer will back in any elections?bbUB
I also am a NH resident for many years. skied here as a young woman so know the state very well. A very conservative state has become extremely liberal due to the influx of many liberals from Massachsuets and other states. We have a liberal governor a friend to obama and clintons. A state house filled with liberals who are passing laws that is infuriating many who have lived here all their life. Conservatives have been voted out of office and only one conservative in Washington.It is so sad to expirience the downfall of a once wonderful state. A conservative newspaper in manchester. A very lliberal newspaper in concord but most conservatives no longer buy newspapers only read the town newspaper . A gay Espiscopalian church leader , gay marriage and could go on.
Liberals have to prop up their liberal case. Otherwise, there propaganda won't make it out into the real world. Of course, the newspapers are going out, because nobody is reading them anyway. However, now, they resort to using tax dollars. Out the free press, in government control
Maybe they could pick up Lee Publishing in Iowa for a kicker.
The devil made them take the loan. Now how do they write about the devil?
"All the propaganda that's fit to print!"
If you even understood what was going on with this whole situation you would be worthy of comment. As it is you display complete ignorance as to how this all works.
The government has nothing to do with the newspaper and everything to do with the bank. In fact, unless the paper goes bankrupt this is a complete nothing story because the government wouldn't have anything to do. It's a loan guarantee, which has been part and parcel of ALL businesses for decades. The paper didn't ask the government to guarantee the loan, the bank did.
It's one thing to hate on Obama, who has accomplished nothing yet promised everything. It is an entirely separate issue to to call this a bailout (it's not) nor say that the government has any say in anything the paper does (it doesn't). The paper is not beholden to the government, and the sooner that is understood the better for all of us.
The Eagle Times always had a reputation of being distinctly conservative in the past, and the original story (now copied and pasted here) was written by a far left leaning direct competitor known as the Valley News. The writer went so far off the facts to swing this into being a story that he forgot his ethical standards of writing truth and presenting all the facts.
Notice how Leftists in power ALWAYS ALWAYS ALWAYS try to control the free press? As a former New Hampshire native, it's sad to see such a libertarian state get absorbed by the Marxist Borg aka the Democrat Party.
It's a loan guarantee…not even a loan or equity stake in the newspaper. In general, lenders are prohibited from intervening in business they lend to ("Lender Liability").
Obviously, the impartiality of the newspaper is something to monitor, but at this juncture it's a bit premature to suggest this is now the municipality's government run propaganda paper.
It's a loan guarantee…not even a loan or equity stake in the newspaper. In general, lenders are prohibited from intervening in business they lend to ("Lender Liability").
[...] Honorable mention (not White House related): New Hampshire will bail out a failing newspaper [...]
'Give them bread and circuses and they will never revolt'
– Roman poet Juvenal in the First Century in his Satires lamenting the continuing slide of his former Roman Republic into dictatorship.
What's next? Are they gonna subsidize the nightly news with Katie Couric or CNN or MSNBC etc. because their ratings are so bad they can't make it on their own? You betcha!
Let the paper go. I used to read it and it was useless fish wrap long ago. You basically need to dig it out of the grave to revive it.
I'm afraid it might be a zombie and hurt someone on it's evil master command.
New Hamshire still has a real news paper The Union Leader and they'll be around for a long time to come without a bailout.
Relllaaaxxxx, it's not like your being told when and which doctor you can see about your health. I mean if tax payers were asked to invest in a struggling car manufacturer or say financial institutions than I could understand getting upset. Afterall who knows whats better for the tax payers of the state, the banks and government working in colusion with the newspapers or you. You obviously don't possess the compassiona and intellect as your likely a bunch of angry, anti-goverment, clinging to your guns, ignorant masses. Just be grateful the politicians and elitists know what's best for you, even if you don't appreciate it.
Just goes to show you. Government, no matter what or who they are, are a bunch of idiots.
As someone that worked at the “Old Eagletimes”…the only difference is a very few different “layouts” and more “Out of State Liberal OP-ED pieces. IE…NO Change to speak of. So why resurrect it and have the State guarantee anything? But thats a Norm in Claremont…a Business fails…and a Business of the Very Same kind moves right in behind it…yup..same ol same ol in Claremont.
Freedom is overrated, its time for workers rights!
Live free or die, ya-right.
I got suspicious when the Times dropped it's sale of the Boston Globe.
Obama once downed a Fox News satellite simply by clicking on a universal TV remote in his living room. Obama then reprogrammed the remaining satellites to broadcast reruns of Keith Olbermann's show, thus expanding the consciousness of the average American TV viewer and raising awareness by 19%.
Will the executives' pay be subject to government control like the other bailed out companies?
i am the publisher of YourClaremontPress.com. We began publishing the daily local and breaking news for Claremont and the Southern NH and VT areas since 5 days after the Eagle closed their doors. We are the new media and expect to be around a very long time as Internet news websites are the future. I had an opportunity to contact the owner of the Eagle Times and found that the he doesn't have an email address. It was hard for me to believe and I even asked the woman to make sure she was providing me with the correct information. So the government bailed out a newspaper which does not comprehend the new media?
The people had a choice and didn't give the paper enough money. So now the locals will take tax money and force people to back the paper? And how can even the AP make this sound good?
Now they can talk about that thrilled leg all day, and not worry about anyone buying the paper!
At least now it's in the open. The government will pay to keep a friendly press open and pouring out the cool aid.
The main stream media is leftist. Had Bush refused to release his college records do you think they would have smiled and moved along? If unemployment got this high under Reagan would they have tried to excuse it and keep spinning the slow 'recovery without jobs'?
Our local paper here is starting to loose money because people are tired of paying for condenscending AP stories that only tell one side and are full spin. Fox is more in keeping with the kind of news people want to see.
Unless the papers want to close perhaps they need to do things that will actually attract readers and adds?
The huge papers will be lining up for money soon, if they can get away with it.
This is a sorry event, print news is dead. The news is stale and the reporter have drank the lib coolaide.
As a recent NH citizen this really boils the blood- this is why I moved to NH in the first place- to get away from government. What's my alternative now? move to Australia?
Looks to me like a group of GOPers should get together about $200k and wait.. it'll be for sale soon and then they can take it over a run a profit posting news instead of opinions..
Sure seems to be a cheap price for a paper…
More like "Live Liberal and Die"… PC idiots will kill us all..
Stop getting so wee-weed up, Francis..
Don't you just love the direction this country is headed?
Only the government would "invest" in a business that is failing and unable to secure a loan on its own merits.
Banks won't lend to GM or Chrysler or AIG or CitiGroup or outdated media like newspapers because their business models are flawed.
In rushes the politicians to "guarantee" the loan with (what else but) taxpayer money collected by vultures in the government….collected from successful businesses who were wise enough and fortunate enough to EARN a PROFIT.
Throw all the bums out of the government either by election or otherwise.
[...] http://biggovernment.com/2009/11/10/new-hampshire-will-bailout-failing-newspaper/ Possibly related posts: (automatically generated)ACORN Aims to Tip New Jersey Election in Corzine’s FavorAgain: Axelrod, Emanuel attack Fox News on morning showsNew York Times to cut 100 newsroom positionsMonday In The Media’s Stormy Seas Posted in Government. Tags: Eagle Times, New Hampshire, Newspapers. Leave a Comment » [...]
And the hits just keep on coming!!
“We were approached by the bank to provide a guarantee for a business they felt was going to have some success, and hire back some jobs that are critical to the area,” Donahue said in an interview Friday. “We agreed with the bank’s assessment, and we agreed to present it to the governor and council.”
Maybe Mike and the Gov would like to personally guarantee the loan since they believe it looks like they will enjoy some success. sn't it easy to part with other peoples money. These people are f***ing idiots!!!!!!
They can't, and that's the point.
wow the dems have no problem throwing our money at bad investments.(what new tax will pay for this failure?) too many masshles movin up here.PLEASE vote conservative next time before we lose n.h.too.LIVE FREE OR DIE
You are totally correct!
It's a prelude to the re-introduction of the "fairness" doctrine.
Very bad idea. A branch of government guaranteeing a loan with taxpayer money to an "independent news outlet" puts the fox in charge of the hen house. Oh, and if the taxpayers refuse to pay taxes to support this scheme, they go to jail, and if they put up a fight, they get injured or killed. These are facts, like 'em or not. "Government Gone Wild!" is a lot less innocent than "Girls Gone Wild!" Oh, and frikkin' uglier, too.
NH has been swamped by the liberals for some years now. From the influx of Puerto Ricans at the turn of the century to the Bostonians, the new populace has brought their bad ideas with them instead of learning what made NH great. The genius's who voted on this bale out need to have their names published. If it were a good thing, the Eagle would do it as a thank you. haha. They won't since everyone knows this is a corrupt transaction or no one would even imagine it.
Where's the subsidies for buggy whip manufacturers????
And think of the horse shoe industry!
We need a bailout for the butter churners!
more obozo press being propped up to defend the hate America agenda of obama liar
this is tooooooooo perfect!!!!!!!!!!!!!! After they get the govt bailout there will be a law suit claiming seperation of press and govt. since seperation is in the constitution…and freedom of the press and religion are mentioned in the same sentence…….this of course will be struck down by liberal judges………..then we reverse Brown with their ruling that seperation does not exist!
a no-brainer!
gotta stop the truth about obama liar from getting out to America
Texas is the only choice !!!!!
up to this point, obozo has not had to buy anything – there is not change from the past – its all obozo defense and attack on America
or to put it simply
msm following the hate America agenda of obama liar
To the writer called the Contrarian: The fact that you say you've " been involved with local newspapers for a long time" should explain your ignorance, but just to clarify; newspapers aren't a "business" like your local hot-dog stand that sell merchandise. Newspapers sell ideas and are what we call the fourth estate. They are also protected by the constitution (unlike your local hotdog stand) and are given that protection because they are to serve the people objectively as watchdogs of the gov't. Unfortunately, they now busy themselves as watchdogs of the environment, Gay agendas, Hollywood perversion and Joe citizen. All of which make J-school graduates feel in touch, sexy and superior but it is also why newspaper circulation has dropped over the past 30 years to the point where they are now going out of business across the nation. That's why this deal stinks. It 's just one more travesty in a long line of media sell-outs and betrayals of the very people they are supposed to serve. But they don't teach that in J-school any more.
When my local paper (The Tennesseean) gives me a reason to buy it, I will do so. It is a replay of AP stories, as are most newspapers these days. It generally has a bigger section for sports than it has news.
I should buy the Tennesseean because….?
It went down the MassHole.
The government press… probably has a nice ring to Barry Obama.
The entire nation has been turned 180 degrees where we now honor and support the losers, and denigrate and ridicule the winners.
Examples include building "alternative schools" for the troublemakers, rather than expelling them to a life of cleaning grease traps and scrubbing toilets. This takes money from the classrooms that should be there for the intelligent student, or the ones who are willing to at least try.
We tax, regulate, fine, and license the successful business either enough to cause the doors to close, or the jobs to go off-shore. Meantime, businesses that have made bad decisions get support.
A military example I saw over and over again even 30 years ago: the ones who went through alcohol or drug rehab, some more than once, got a better shot at promotions because they "overcame a problem". A better show at promotion than those who didn't mess up in the first place.
Sorry folks. The honor of failure and the ridicule of success is where the nation stands in these times.
The butter churners HAVE them. Ever heard of dairy price support programs?
Good presumption…you don't think any government funding of any type ever would fund a conservative viewpoint…do you?
The government has nothing to do with the newspaper….except for guaranteeing its bank loan, which is a first. Show me where this is common practice for media companies. This is not a nothing story; in fact, it's very interesting that the government is now backing loans made to media companies.
Unless the paper goes bankrupt…why do you think the bank asked the government to guarantee the loan? Obviously the bank wanted to divide the risk.
Finally, if you think the poster above you wasn't worthy of comment, don't be an idiot and then reply to him anyways.
[...] Link. [...]
Live free or die my ass. NH has become the hypocrites landing pad, with all of the liberals from Massachusetts who can’t afford the MA taxes they voted for, moving in to NH and choking off it’s liberty, turning it blue in the process.
I’m glad I got out 20 years ago. It’s all been downhill since then.
Yep, I left 20 years ago and can echo what you are saying. The bleeding heart libs in MA vote themselves higher taxes each year, then when they finally can't afford to live in MA any longer due to high taxes, they move up I93 in to NH, and continue the same stupid practice of voting for big government liberals.
I lived in Nashua, so I would see these idiots come over the border and buy their goods tax free, then drive back to their liberal enclaves. Pathetic.
And they can't drive worth a damn either. Massholes!
In a totally unrelated issue, the Eagle Times Editorial Board has endorsed the reelection of all members of the Executive Council.
What's next? As long as the government doesn't take over my porn sites, I'll be all right. Oh, that's right – they will never go out of business because they sell something people WANT! But seriously, what is left (pun intended) for the government to get a finger into? The car companies have been compromised. The banks, too. Corporations still get fantastic tax breaks and subsidies (Exxon-Mobil, etc.). Oh I just thought of this – the airlines! Yeah, that's it. Fly obama-air! Too big to fail! They won't offer life insurance before you get on THAT plane. You know the reason why. The odds aren't with you.
so, you don't have anything substantial to contribute, just insinuation and insult. thanks for playing…
There have been rumblings….now New Hampshire is the first state to embrace its own propaganda machine. How will they remain independent? Just the beginning…..I fear.
I get your point with the first sentence. But the problem is, because you feel that way, you're reading something Obama and diabolical into a story that isn't, as Dave points out. It sort of makes my point that people start foaming at the mouth when they hear government bailout.
This isn't a defense of Obama, it's an appeal to reason. Every state guarantees loans for businesses. As you did with the lefty/military example, I'll offer you a counter example as well. Do you think anyone would be upset if this was a loan guarantee for a manufacturer to install new equipment as part of an expansion, or a water and sewer infrastructure project for a county-owned industrial park that entirely benefits the businesses that occupy it? You can call these things socialist, if you like, but then you are damning pretty much every economic development agency and development strategy that have been operating at the local and state level for decades.
Just keep watching your TV. Everything is OK.
Are they on drugs?