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Subscribe to RSSBattery manufacturer A123 Systems, which got nearly $250 million in grant money under President Barack Obama’s 2009 stimulus program, filed for Chapter 11 bankruptcy protection Tuesday morning – just in time for Republican Mitt Romney to add the firm to his indictment of Obama’s green-energy program. In the first debate with Obama, Romney used the collapse of solar firm Solyndra to attack Obama’s energy agenda.
Herwig Prammer / Reuters
Energy Secretary Steven Chu
“A123’s bankruptcy is yet another failure for the President’s disastrous strategy of gambling away billions of taxpayer dollars on a strategy of government-led growth that simply does not work,” said Romney spokeswoman Andrea Saul on Tuesday.
But A123, based in Watertown, Mass., but with manufacturing plants in Michigan, got funding under the administrations of both Obama and President George W. Bush. The firm got a crucial influx of early money from the Bush administration in 2001 and 2003. In fact, the firm might not have been alive in 2009 to get its Obama stimulus funding if it hadn’t been for earlier subsidies under the Bush administration.
In a speech at a business conference on Sept. 4, 2008, then-Energy Secretary Samuel Bodman noted that in 2003 his department had made an award under the Small Business Innovation Research (SBIR) program to A123 Systems for work on lithium-ion batteries.
“While this company now has major private investors, on many occasions the company's founders have described this SBIR grant as their first source of outside funding,” Bodman said. “And the results, now just five years later, are remarkable. This company now employs over 1,100 people who produce batteries with an unprecedented combination of power, safety and long life…”
He added, “I've had the pleasure of visiting A123 Systems, located right outside of Boston, and I can tell you firsthand that this company is doing terrific work.”
According to Jan. 21, 2010, testimony by current Energy Secretary Steven Chu before the Senate Energy and Natural Resources Committee, A123 Systems received SBIR grants in 2001 and 2003 totaling $850,000 to refine its lithium-ion battery technology.
Bush also laid the foundation for Obama administration subsidies to alternative-energy firms when he signed into law the Energy Independence and Security Act of 2007. (GOP vice presidential candidate Rep. Paul Ryan voted against the bill, partly due to an earmark in the measure that he said would benefit one forestry company.)
The 2007 law created, but did not fund, the Advanced Technology Vehicles Manufacturing (ATVM) program. In the summer of 2008 as the automobile industry was beginning to fall on hard times, Midwestern lawmakers proposed $3.75 billion to activate the ATVM and make loans to U.S. vehicle and battery firms.
When Obama became president, one of his highest priorities was to spur manufacturing of alternative-energy technologies and vehicles. The Energy Department used ATVM grants as a way to subsidize green-energy firms. On Aug. 5, 2009, Vice President Joe Biden announced $1.35 billion in DOE grants to spur advanced battery and electric vehicle manufacturing. A123 Systems got $249 million of that money.
“Terrific news," said Sen. John Kerry, D-Mass. "A123 Systems is doing the kind of cutting-edge work we need to get our manufacturing industry back on track and create jobs here at home… These grants are a wise investment that will pay many dividends."
That summer of 2009 was a buoyant time for the firm, which launched its initial public offering in September, raising $390 million. “The IPO entered venture capital lore, a beacon for clean-tech entrepreneurs everywhere,” reported Climate Wire. The stock surged from its IPO price of $13.50 a share to more than $28 before 2009 ended.
The firm also got another Energy Department grant of $5 million to determine whether its batteries could store emergency power for the electric grid.
In January 2010, A123 was one of the firms benefiting from another stimulus cash influx – as the Labor Department announced the state of Michigan would get $5 million in grant money to train workers in green-energy skills.
In September 2010, Obama called Michigan Gov. Jennifer Granholm to congratulate her and A123 Systems for opening the largest lithium-ion battery manufacturing plant in the United States in Livonia, Mich.
"It is incredibly exciting to see how far you guys have come,” Obama said, in remarks reported by the Detroit News. “This is about the birth of an entire new industry in America -- an industry that's going to be central to the next generation of cars.”
But there were skeptics.
By early 2011 one stock analyst, Theodore O’Neill, now at Litchfield Hills Research, told Climate Wire that A123 was heading for “a giant train wreck” in the next few years. He said the tiny numbers of U.S. battery-powered vehicles would not create enough demand for A123 to make a profit.
By this summer GOP lawmakers were raising the alarm about a Chinese firm taking majority ownership of A123 Systems. “We need to be sure that when the federal government invests close to a quarter of a billion dollars in grants to a company, that the technology developed as a result of this taxpayer support doesn’t end up in China,” said Sen. Chuck Grassley, R-Iowa.
But that Chinese investment didn’t happen, and on Tuesday A123 filed for bankruptcy. A larger firm, Johnson Controls, will buy its factories in Michigan.
In an interview Tuesday, O’Neill said, “The Fisker Karma was the only car taking the A123 batteries. And I started calling around to dealers and as late as November of 2011 the dealers still didn’t have cars to sell. So you had A123 going ahead and building a 600,000-square-foot manufacturing facility for which there’s no end market. It’s not clear to me how much the Department of Energy is to blame for having A123 expand as rapidly as they did in advance of actual demand or whether it was all (A123’s chief executive) David Vieau” who erred in his forecast. “It’s probably a little bit of both,” he said.
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this further shows that policies under Obama are no different than Bush. So it is Bush's fault and Obama's. Difference is, Obama was elected to not be Bush, Hope and CHANGE. transparency. you know all that happy jazz. Thumbs up Team O
Hey Caesar -
Did O raise a Chinese flag over the company before outsourcing the jobs? Ooops, I'm sorry, that's a different article....
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O&Joe 2012
So, let's elect Romney who will be exactly like Bush?
Im sure FR will have one those too. Maybe they can have one with Big Bird GT. Oh well GT im glad you have capacity to discuss the ineptness of Obama. Keep cheering on Nero.
tell me GT, do you think this is a postive mark for Obama? Blaming Bush would ok in this instance however looks kinda silly with the whole Hope and CHANGE.
Tonight,
Romney will tell millions that he will do the "opposite" of Obama...
Obama saved us from a full depression
Obama has reduced the deficit by hundres of BILLIONS
Obama kept us from bankruptcy and a default
Obama Obama has created 27 consecutive months of job growth
Obama saved the AutoI Industry
Obama killed Bin Laden
Obama gave us Nationalized Health Care
Obama allowed Millions of young students to stay and thrive
Obama saved our retirements with the stock market recovery
Obama made sure TARP got PAID back with INTEREST
Obama took us out of one war, IRAQ.
Obama toppled dictators in Lybia and Egypt
Obama gave women the Lilly Ledbetter Fair Pay Act
Obama saves seniors ove $2,000 by closing a drug hole.
Obama Gave people with pre-existing condition Healthcare
Obama reformed Wall Street to protect consumers
Obama put 26 yeaer olds under their parents healthcare
Obama extended student loans and pell grants
Obama gave us no-co pay physicals
Obama gave us betetr air quality with NEW MPG standards
Obama made sure everyone gets accepted for health insurance
Obama told BP oil to take responsibility for their horrendous oil spill
Obama told Women they do not have co-pays for birth control
Obama told Seniors "no pay" for Preventative Screenings
Obama is responsibly drawing down the war in Afghanistan
Obama gave Small business owners 18 different tax breaks
Obama got Dodd Frank passed into law
Obama told Insurers they must spend 80% of what you pay
Obama brings soldiers home to education + job opportunities
Obama gave Tax credits + CUTS for workers during worst recession
Obama has earned the World's respect of the USA in decades
Obama gave us the Consumer Financial Protection Bureau
Obama gave us More transparency with earmarks by lawmakers
Obama got rid of DADT in the military
Obama gave Families REFUNDS from their Health Insurance
Obama extended child tax credits + atl. min. Tax to help families
Obama has spent less than any President in decades
Remember, Romney will do the OPPOSITE if elected.
BO 2012:
Keep drinking the cool aid. How about 65% increase in food stamps, 13% increase in disability claims, least amount of people working in the US in 40 years. Want more, 1.2 GDP, statistically the worst recovery after a recession ever, $6 trillion more in debt with nothing to show for it. Guess this is how Democrats identify success. Hate to see a bad presidency under those expectations. What a sorrowful political party.
Sane America,
No one says we are where we want to be. For you to make your comments and ignore all the positive Obama has done, see list above, and actually read it, but to ignore all that is trying to change the facts..And we all know you can't handle the facts and truth; you must make up your own reality
I love how you despreate Righties are going off on these insignificant talking points. You can't deal with the fact that the economy is recovering and O is doing a good job. I loved watching you all @!$%# your pants when the unemployment rate dropped below 8%, Oh, thats right, the figures were rigged, "LOL".
I guess the only question now is: What's the corporate raider going to do after he gets his ass kicked in Nov. Maybe he'll start running for 2016...
BTW - O is going to kick NitMitt's ass big time tonight..!!!LOL!!!
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O&Joe 2012
Sane America,
You can blame all the downfalls on the "do nothing", obstructing, filibustering, 9% approved GOP owned congress that never compromises.
The democrats do not have control when you have an opposing party filibustering everything over 500 times.
Romney didn't say he would do the opposite of the GOP.
Think about that too.
sure GT, sounds like some self psych yourself up. Did the therapist convince you to believe in yourself. Good GT, therapy works.
BO 2012
I don't have all night to refute that list of garbage but I have to laugh at the two biggest whoppers!
"Obama has reduced the deficit by hundres of BILLIONS"
"Obama has spent less than any President in decades"
What planet on your on. Obama has not reduced anything he has run trillion dollar deficits every year in office has run up more debt than almost every other president combined.
He has spent less than any President? The fedural budget fiscal year starts in October and runs through September the following year. The last year that they blame on Bush and use as a baseline Bush was only in office a few months and Obama was in charge from Jan through September. Most of Tarp the stimulus and the 450 bilion dollar spending bill Obama passed were all put on Bush's credit card even though he was not in office. The money was spent by Obama not Bush. So what he did was raise the baseline, blame Bush for spending money he himself in fact spent and then brags that he only had small increases from that new inflated baseline and claims he is the lowest spending President.
Wake up people.
God help us!
NBC - at no time are you going to print something that is positive for Mr. Romney. This is not normally my feeling, but today - main headline is that President Obama is going to blunt Mr. Romney's advance. Would a story about Mr. Romney's possible continued advance over the president every appear. Not that I can think of the information for the story - just saying...
Shame on NBC for such a biased platform. The big fallout from this election - regardless of whom is elected - is the media.
Laugh at these Franko...
http://www.usgovernmentspending.com/federal_deficit_chart.html
http://www.usgovernmentdebt.us/debt_deficit_history
http://www.politifact.com/truth-o-meter/statements/2012/may/23/facebook-posts/viral-facebook-post-says-barack-obama-has-lowest-s/
http://thinkprogress.org/economy/2012/05/15/484767/obama-budget-chart/?mobile=nc
Franko,
the deficit is at 1.1 Trillion, Bush passed it at 1.4 Trillion.
If you do not know the difference between the deficit and the "national debt" then you're not on the right forum.
You should be posting in Nickelodeon's site.
You are so right on target.. I voted for Obama and change..All he did was support Bush policies ...Romney may be a Republican, but I don't see Bush stomping for him or him parading Bush around (like Obama does Clinton)....I have had enough of business as usual in Washington wasting my money on bad investments that screw tax payers.. Bring on Romney! This Democrat is ready for a CHANGE!
On the very day that Chuck Todd contends that this network does not work for Obama. . .
That they can "squeak", but it doesn't do any good. . .
You run this, and undo all his nonsense.
Seriously, guys? Are you in some alternate universe, where Bush is running against Obama?
BO2012,
Apparently you can't read. The 1.4 trillion you are blaming on Bush and the lefties use as a baseline was mostly money spent by OBAMA! That fiscal year ended in September 2009 after 9 months of Obama, Pelosi spending spree. The tarp money spent during that period, the stimulus money Bush had nothing to do with and the 450 billion spending bill the Pelosi REED congress didn't pass until Obama was in office because they knew Bush would not sign it, it was all Obama's spending not Bush's.
When you understand how the fiscal year works and who spent what try again. But don't be pointing me to some stupid lefty website that misleads the public so people like you will buy right in.
Obama is the biggest spending President, highest deficit spending President and he has added the most to the National debt period.
Obama is not going to allow the GOP, nor Romney and Ryan to blame the debt and the slow economy on him...
The President does NOT pass jobs legislation. He just signs them.
Growth only happens if the “GOP owned congress” puts bills on the table to sign.
The uncompromising GOP has blocked, stopped, voted NO, obstructed, filibustered over 500 times and made pledges to NOT create jobs or bring cash to the government just to blame ONE man.
The GOP lies and do not tell the people that their policies are at fault.
ALL GOP Policies are at fault because everything is directly involved with them.
Mr. Romney, let's do some ARITHMETIC...
#1 - Name the "Obama" POLICIES and the AMOUNTS that you say added trillions to the debt and “ADD” those amounts.
#2 –“DEDUCT” that Obama total from the current $16 TRILLION.
The balance = “GOP” spending.
DO Remember the following…
Expenses to “FIX” the GOP failed policies like TARP and the stimulus are still GOP spending and NOT Obama's fault so DO NOT count those policies.
All expenses from the previous GOP administration's “UNFUNDED” policies that Obama ADDED to his budget are ALSO Republican spending.
The INTEREST on the GOP TRILLIONS of debt is NOT for Obama to be responsible for either, it is GOP spending too.
The GOP “OWNS” that interest.
Also,
The “Bailouts” ARE “loans” to REPAIR more GOP screwed up policies, the GOP wanted those to be FREE of charge, a "going away gift" to the Banks and Wall Street from Bush. Obama made them loans.
Do not add policies before Reagan because there was NO DEBT PROBLEM before that, Reagan took office when the DEBT had ONE TRILLION and could have been tackled and fixed with comprehensive tax reform but Reagan did the opposite..
“Entitlements” are a tiny fraction of the debt and they always bring their own revenues through payroll deductions as premium payments. Entitlements are NOT free, it's paid-into insurance.
Be sure of this…
The Republicans will try blaming a Democratic majority that never actually had “control”.
Saying that the Democrats had a "Majority" doesn't count as “control”, because we all know the GOP had the "CONTROL" with their record filibusters and obstructions.
Remind the Republicans that "Total Control" is having a "Filibuster proof majority". The Democrats only had it for 6 months. After Teddy died, the Republicans went on a filibuster frenzy and BLOCKED everything.
All those failed GOP policies were drafted by Republicans AND all passed with GOP majority of votes going back to Reagan.
The Republicans will NEVER have policies or numbers to blame on the Democrats because they DO NOT exist.
Look them up, I tried. DO NOT call them “spending” if you cannot name the policies.
Every single policy at fault is GOP owned, drafted and vigorously voted by Republicans.
DO NOT get fooled into thinking it is Obama's fault. NOW is the time to stop that Myth.
Watch out for the following…
The Republicans and the Fox-Rush-bots are going to try to change the subject on this comment with insults, diversions and ridicules.
The Republicans will ask for budgets, but no one can pass budgets without Revenues. The GOP PLEDGED to NEVER raise revenues.
The Republicans will mention “bills” that are on Reid’s desk. I saw all those bills. NONE are for jobs or to fix the economy. ALL are for reducing regulations for the rich, cutting public services, more tax cuts for corporations etc.
The Republicans will blame gas prices on Obama but will fail to explain why a President seeking re-election would do that or how he could actually do that.
This is a WIN WIN on talks about the economy. Use it. Challenge every Republican. It will drive them mad with ZERO response.
This is NOT blaming the GOP or BUSH, this is ARITHMETIC !!!!
"A123 Systems received SBIR grants in 2001 and 2003 totaling $850,000... In fact, the firm might not have been alive in 2009 to get its Obama stimulus funding"
So Bush saved the company with TWO SEPARATE grants totaling LESS THAN $1 MILLION and they survived for SIX MORE YEARS...
Along came Obama who handed them $249 MILLION and they died WITHIN THREE YEARS!
Obama gave them 250 times as much money as bush!!! Your money, your children's money, your grandchildren's money.
Thanks NBC for highlighting the difference between Bush and Obama.
P.S.
And the media still calls it "stimulus"... just terrible.
Referring to "BO" does Newsvine not have a rule against copying and reinserting comments, article after article, numerous times from the same author. Trolling is one thing, but "BO" is ridiculous. Newsvine should ban him.
Ok righties let's Blame Obama 3, 2, 1
He beat ya to it. ;)
Expect them to damn Obama and gloss over their failures. :)
And two US agencies are involved in the solar panel bankruptcy court case that would allow two venture capital companies, owned by Obama cronies, large tax deductions.
Both agencies want to collect taxpayer funds from the BK, while the two Obama cronies want the tax benefits to off-set earnings.
Well, both of the venture firms are doing what many claim Romney did at Bain. Where is the outrage from the left?
Not hard to do -- it's all happening under HIS watch. Maybe if he went to those boring briefings once in a while he might learn something. He's living large and having a grand time handing out OTHER PEOPLE'S MONEY -- wonder if he would be so fast and furious with all the hand outs if it was his OWN personal cash. Really don't think so.
And two US agencies are involved in the solar panel bankruptcy court case that would allow two venture capital companies, owned by Obama cronies, large tax deductions
1funnygirl -
Hey Slingblade, get your facts straight, or at least read the article before you comment. The company in question was started early in the Bush Administration, and bled over into the Obama Administration. The stimulus was part of a blanket that covered several companies.
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O&Joe 2012
I smell something bad guys. Did someone just pass gas?
Jeff - that was Dotties girl - does it all the time!
Obama/Biden 2012
Well dang, open a window or something. :0
Told ya they'd gloss over the fact Bush and the Congress had some part in it too.
yeah cuz you can smell over the computer. Whats next virtual popcorn and bumwine?
yeah cuz you can smell over the computer.
Hey Caesar - Pull my finger...LOL..
Will they throw Hillary under the bus again and have her take the blame for this? or will they just keep blaming Bush?
Ahhh, there it is.
"In fact, the firm might not have been alive in 2009 to get its Obama stimulus funding if it hadn’t been for earlier subsidies under the Bush administration."
If Bush hadn't saved them I couldn't have destroyed them while wasting a quarter of a billion in taxpayer money. Sincerely B.O.
OK.
HA HA HA HA HA HA HA HA! Priceless!
They're claiming they got money under the Bush admin but fail to mention how much --- why's that?
The article says $850,000 from Bush, 250 million from Obama.
Not Bush. The $850,000 came from SBIR loan. Bush, through the DOE, granted a larger sum.
snail - Learn how to read.
"The firm got a crucial influx of early money from the Bush administration in 2001 and 2003....
A123 Systems received SBIR grants in 2001 and 2003 totaling $850,000"
The 2001 and 2003 grants are all they received under Bush.
P.S.
Notice how they SBIR grants not loans?
Why do people think people want "green vehicles"? The public does NOT want them but yet the government keeps pushing them. How many Prius vehicles would sell WITHOUT the government rebate? "Green vehicles" make up less than 3% of sales but yet they make up over 25% of the models out there. Amazing how the government likes to waste tax payer money!
It's not that people think people want these kind of vehicles. It's that some people have enough foresight to realize that continuing to consume resources at the current rate coupled with the exponential population growth is a recipe for disaster.
We are going to have to start using less resources per person or nature will reduce the number of people. Populations always fall back to their environment's carrying capacity and we are already well beyond ours.
Michael - yes darn those people who are thinking that destroying the planet with carbon emissions is a bad thing. To hell with the people who believe we should stop depending on foreign oil to drive our vehicles. What are they thinking that they might want their children and grandchildren to see an ocean that isn't polluted; trees as green as they are now; cities without layers of pollution hovering over them; avoiding having to wear masks as they had to do in parts of Asia because the air is so polluted. How terribly ignorant to think avoiding destruction of manking is a good thing!
Let me guess - you're a Repubican, right?????
Obama/Biden 2012
SeekingSanity:
Guess we could say the same to you. To hell with people that want us to drive vehicles not ready for mass consumption because of limited range and load and to those that would raise the price of energy and allow the poor and middle class to suffer in order to make us move to those vehicles. See it works both ways, please have the president explain how his energy policies have helped the poor and middle class over the last 4 years. Please, do tell how the poor and the middle class haven't been stomped on by this president.
The Obama Administration should have seen and analyzed the failure of green energy under Bush...instead Obama doubled down on failure, Obama has wasted $90 billion of our money..
Obama Administration is spending us into bankruptcy with failed wasteful government green energy scams.....
So you do not want to have alturnative sources of energy, just drill baby drill. Good thinking.
Need to get someone in the WH that has the stones to "laser in" on where OUR tax dollars are spent, not handed out to companies of their donors, bundlers, and lapdogs. Time to set the house in order. Wonder how many other "green machines" are out there on the taxpayer dollar waiting to go belly up. Probably getting more $$$ to keep their doors open until AFTER the election. Good luck with that!
Dottie's girl - yep Romney will be "lasered in" on where the taxes are going - right into the pockets of his buddies while he would bleed the middle class dry. Luckily we won't find out.
Obama/Biden 2012
Seeking Sanity:
Please explain how a tax cut for US citizens bleeds the Middle Class. Please make that argument for me. Be precise and logical. Please, we're waiting. Funny, its almost like you believe the money actually belongs to the government in the first place and someone is stealing from them. Liberal logic... pretty funny.
Tax cuts that cause the country to borrow to sustain operation. Bush era tax cuts have caused 1,700 million in debt.
http://www.whitehouse.gov/infographics/us-national-debt
So how do you cut taxes with revenue not increasing and at the same time state you will INCREASE defense spending? I can tell people I'll cut taxes. Doesn't mean I can do it.
sane america
1. Tax cuts will take away revenue
2. The deficit will increase
4. in order to plug the revenue hole, Mitt said he would close loopholes. Well there are just not enough loop to get back the loss revenue.
5. so what's next? Middle Class deductions. Mitt said he will not take those away. But even if he did take those it would still not plug the hole that a 20% tax cut would create.
6 So we have a choice, Balloon the deficit or punish the middle class, or both.
I hope that make sense. If it doesn't, lets hear your side.
Green is dead. Oil and gas is still king. Republican control once again.
MMM... Blame Bush....... Blame Bush... not my fault... Blame Bush.... I'm the leader... Blame Bush.... I did every thing I could... whats wrong with the economy?.... Blame Bush....
UNINSTALLING OBAMA..... █████████████▒▒▒▒▒▒ 95% complete (man I love this)
So after 'uninstalling' our President ...who are you going to blame next after he's gone?
Flame, be careful what you wish for... otherwise, your own peers will gloat over you later, and tell you in a despising and condescending tone, that this is what YOU wanted.
Actually rradico (cool moniker btw) your right. Despite my support of Romney, I'm acutely aware that putting all your "hopes" on ANY politician will be the downfall of America... It will always be "WE the people." This is off subject but i.e.:
It is not up to the government to tell us which light bulb to buy but it is up to the government provide a equitable business environment for innovation in light bulbs... The administration should not be "betting" on companies with tax payer funds... but funding research and building on that is the key.
All I want to know is....were the dishes clean or dirty? What about BIRD BIG? What's up FIRST READ....these are the key issues of this election.
This is funny. 800k for research under Bush and 250 million dollar grant from Obama and the lefties want to equate the two.
Flame77 - you're gonna need to reboot come 11/7 since President Obama will be re-elected!
Obama/Biden 2012
Franko - And it took them two separate grants years apart just to get $850,000 and the stayed in business for another 6 years.
Obama gave them $250 million at once and they folded 3 years later. Why bother building a business when your golden parachutes are overflowing with taxpayer gold courtesy of the spender-in-chief?
If you liked Bush, you're gonna LOVE Romney.
Absolutely. They only got a total of $850k from Bush in 2 separate grants, and they stayed in business for another 6 years before needing more money.
Obama gave them a quarter of a BILLION and they died within 3 years.
So when Bain or private investors invest in a company, and that company goes bankrupt, it is capitalism and the free market. When a company gets a loan from the government and goes bankrupt due to mismanagement, that is because of a failed policy. What a load of bull puckey......
woodbutcher
Get a clue, Bain invested their own money not tax payer money and it was not a loan it was a 250 million dollar grant.
Franko#'s:
Get a clue -- Bain's bankrupted companies that had employer pensions, cleaned out those pensions as profit and left it to the tax payers to fund those pensions.
They seem to invest just enough to close it up and move it to China. And old song for Bain.
http://www.democracynow.org/2012/10/10/as_bain_ships_jobs_to_china
Franko,
Get a clue. To a Marxist, there is no such thing as private money. It belongs to everyone. If you have more than Woodbutcher, you stole it from her. Hand it over.
Vegas,
Obama took away all the pension owed to Delphi employees because they were not union.
So, all the lib media cares about is how Barry and his policies can be impugned - but they really don't care about the lost jobs, impact on the community, $250,000,000 of OUR money peed down another rat hole, etc.
It's always about how it looks to the Dems not the result,which is why libs have no concrete principled positions on anything. It's whichever way the wind blows that they will go with.
This is too easy for Mitt: Obama paid his supporters off with grants, loans, positions, etc.: Barry has failed at everything except pushing the U.S. further and further into debt.
C'mon Romney, kick some tail tonight!
Obama likes to gamble with other peoples money; the taxpayers. The USA is not your personal crap table.
Romney/Ryan 2012 People who analyze and invest, rather than gamble.
Yeah, tell that to the taxpayers in MA under the Romney governorship. Romney did the same thing while governor. He used tax payer money to invest in two of his donor companies. They both defaulted and left the bill for the MA taxpayers to take care of, also eliminated jobs while they were at it.
Johnson Controls made the (conventional)battery in my car.
Wasting a llittle money on tilt-at-windmills wouldn't be so bad if it were not for the apparent dislike for the coal industry which seems to be important to our industry in general. Metallurgical Coal? Also is there hostility to energy in general (except for tilt-at-windmills?
Another one selected by team Obama bites the dust! Romney was correct during the last debate "You like to chose winners and losers, but you always seem to pick the losers" LOL What is the total now in wasted tax payer dollars in support of Obama's green energy cronies/campaign donors?
Check out the most expensive fertilizer plant in history. Dakota Gasification in Beulah, ND. It was Jimmy Carter's pet project at a price tag of $1 billion in 1980 dollars. Whereas fertilizer is made from natural gas, the plant converted coal into natural gas. How stupid is that? About as stupid as Solyndra. Nah, not that stupid. At least the plant is making fertilizer while Solyndra is just an empty warehouse. Carter got one term. Obama will follow his footsteps.
So the Shrub gave them 850 thousand and the company survived until 2009. Obama gave them 250 million and they fold in a shorter amount of time.
I know many white, Republican voters who hated Bush so much that they voted for Obama in 2008. They like the fact that Obama sounded like the anti-Bush and a black president could unite the nation. I have lost touch with most of them, but I wonder how they feel about Obama now?
The same as everyone else feels, sickened.
Since Republicans demonize any effort to save energy, which might reduce the income of the oil and coal plutocrats they worship, it's predictable that they'll spin more bizarre conspiracy theories about this. The fact the George W also supported them, prior to the current era of Republican insanity, means nothing. Not every business succeeds, and some of them are frauds. But that doesn't make Republican lies any less vile.
"Since Republicans demonize any effort to save energy...
The fact the George W also supported them, ... means nothing."
Actually that fact means that your fist statement is a lie.
P.S.
What is being "demonized" is the wasting of taxpayer money, if you weren't a party-obedient sheep you might actually pay enough attention to realize that
I will vote for that party that tells me how they will repay people like myself that have seen our savings accounts dwindle and our paychecks lose value in order to pump up stock and commodity prices. Not holding my breath
So when Romney and his vulture capitalist's invested in a Co, loaded it up with debt, and walked away with millions, which included the workers pensions and benefits, that's A-OK with republicans.
Why aren't the Romney supporters upset that Bain capitol is outsourcing jobs 170 right now as we blog to China? Freeport Ill....
O&JOE
Yeah...bad news. I think the broad strategy toward "green energy" is OK, but others have been at it longer. Also, I believe Chu is a "scientist." There are scientists and engineers around who can drive almost any project into bankruptcy with continual "tinkering" to make that last 5% of the product development "perfect."
But, that's unfair to Dr. Chu. I have no knowledge of his personal involvement in either the government funding or the project development.
Remember. Myth Robme LIED to US about the failure rate of these "green" energy project.
Myth claimed half of them had failed, but the fact was that only FOUR out of TWENTY-THREE went under. Now it's just 5 of 23. (CNN fact check, look it up)
The vulture capitalists of Bain have similar records or worse.
NJ paid a company to move a quarter of a mile. That was money well spent. They paid another 120 million to move five miles.
I don't see this as a political issue, but am astounded that a company could raise in grants and via a public offering almost $650 million (done over two successive administrations), have no viable market for their product (why not?) and blithely need to file a chap 11 ! Johnson controls is ready to buy factories !
Somethings not right - and I hope either this administration, or the next launches a criminal probe. Someone walked away from this with their pockets full or will get them filled later. Who are these executives - what did they take home? How come as they saw their market not materialize, why did they expand? Where did the money go? This whole thing stinks and its part of the rotting decay of our times where a group of people couldn't take seriously the sacred trust (both govt and public investors) to use money responsibly, with integrity, and guard it against fraud, self dealing, or other behind the scenes deals that must have been cut. How many people homes could have been saved, or how many schools could have been modernized, or public health clinics built, or any one of a thousand things that this should have made a difference.
As a country we have to work our way to energy independence, and this isn't an indication of failure in looking at alternatives, its a malaise that's not new, and will bring us all down. Its gotta be the tip of the iceberg of something that cross political boundaries, and needs to be investigated, understood, and the people who did this have to be held accountable!