Battery Manufacturer That Received A Quarter Billion In Stimulus Dollars Getting Bailed Out By A Chinese Company

obama-laugh

It’s another rousing success for President Obama’s “stimulus” spending spree.

According to Reuters, “As part of the 2009 American Recovery and Reinvestment Act’s Electric Drive Vehicle Battery and Component Manufacturing Initiative, A123 was awarded a grant of $249.1 million.” The company was supposed to create some 38,000 US jobs, though so far they’ve only hired 1,000 since receiving their stimulus money.

That works out to nearly $250,000 per hire. Great investment, Mr. President.

Hannah Thoreson reports that the company was once touted as a stimulus success story by the President himself but now blames a surplus of battery manufacturers diluting the market. “Alternatively, this statement can be interpreted to read that there is not enough demand for their product to necessitate as many manufacturers as exist,” writes Thoreson. “But since when has the Obama Administration let that kind of market-based logic get in the way of its various green energy projects?”

That’s the problem with most enterprises that need government subsidies. The reason why they need subsidized is because there isn’t sufficient demand in the marketplace to warrant the investment of private capital.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • robert108

    A quarter billion here, a half billion there…pretty soon, obama’s crony payoffs are going to add up to some real money. Meanwhile, the liberals are still whining about “teachers and firefighters”, who serve on the public dime.

    • Emil Kashuntz

      Surely this was the scheme planned by the Kenyan, Marxist, socialist, community organizer to make our country into a Muslim empire.

      • philgray

        same old lies raghead….liar….liar……liar…
        Going to post your phone number again liar….
        you have posted this same remark 8 times in last 5 days…
        Cannot think up a original thought?
        Emil….he sat in a black KKK church for 23 years….that is why I do not support the guy…..
        will you condemn that…or lie about that as well Raghead

      • MikeQuinn Sucks!

        Very clever Mr. Quinn!

      • $8194357

        To damn true for skool IMO.

      • robert108

        If you have an infinite number of chimpanzees, each with a typewriter, and an infinite amount of time, eventually everything ever written will be produced. SAB’s version of a chimp with a typewriter has somehow produced something true, in the midst of an infinite amount of nonsense.

      • Hanni

        It’s about time you finally got something right.

      • http://ndgoon.blogspot.com Goon

        Now you’re starting to see the deal.

    • mikemc1970

      Any family who has ever lived on a budget, knows the nickels, and dimes add up. Unfortunately for our nation, the Obamas have never had to endure such hardships.

      • http://realitybasedbob.sayanythingblog.com/ realitybasedbob

        Exactly, Mr. 1970. Because having a President who’s family once received food stamps is posh. Thankfully gop has a candidate who knows all about financial hardships.

        • mikemc1970

          Food stamps? Please. His grandparents have always been wealthy. And at least Romney knows how to run a business and about free market economics and investment. Obama has never lived in the private sector. Every paycheck he has ever received is from one government agency or another or an institution that receives it’s funds from the government. No, it will pretty nice to have a President that understands how the real world works for a change.

          • http://realitybasedbob.sayanythingblog.com/ realitybasedbob

            The truth is out there, Mr. 1970, just waiting for you to find it.

            Good luck!

          • Onslaught1066

            And the truth is, the only food stamp he ever saw was “USDA Prime”

            And the only poverty he ever saw was his Kenyan brother.

            And he also said this:

            “If you’ve got a business — you didn’t build that. Somebody else made that happen.”

            Barack Hussein Obama 7-13-2012.

          • robert108

            The only question is: when will you find some truth, and stop your constant lying?

  • $8194357

    Its a small small international progressive debt ponzi money trust world after all.
    IT’S A SMALL SMALL PROGRESSIVE INTERNATIONAL UN/DISNEY WORLD….

  • http://nofreelunch.areavoices.com/ Kevin Flanagan

    It’s all part of making the globe a “fair” place.

    • $8194357

      With a “leveled” playing field…
      Except for the elite who manipulate the currencies and own those who govern…

  • Eat This

    “That’s the problem with most enterprises that need government subsidies. The reason why they need subsidized is because there isn’t sufficient demand in the marketplace to warrant the investment of private capital.”

    Like farmers and their welfare checks?

    • http://sayanythingblog.com Rob

      Actually, no, there’s always going to be demand for food. Farm subsidies are about taking the risk out of farming. I’d rather see that done privately, with economies of scale, than subsidies.

      • Roy_Bean

        Farm programs were about having a supply of food on hand, stored all over the country on farms, to give us an advantage over the old Soviet Union where they were usually down to their last loaf and a half of bread. The farm program has a legitimate place in national defense. We have kind of gotten away from that.

        • toomuchguvmint

          As of late farm programs have a whole lot to do with buying votes.

          • robert108

            Agreed. FDR made farmers his bitch, and that relationship continues to this day.

    • yy4u2

      You do know that ~70% of the farm bill is for food assistance programs don’t you?
      Much like SS and people on the left, they want people to pay into the system yet want to decide who should get what. Meaning anyone they think that “makes too much” shouldn’t get anything back. Legal extortion? If there is a federal program that doles out money for farm and/or related entities, albeit a very small percentage, why wouldn’t they try to get some money back that they paid into?
      I say cut it all and let the cities and states figure it out how they want to handle it.
      http://www.factcheck.org/2008/05/farm-bill-funds-distribution/
      http://www.eatdrinkpolitics.com/wp-content/uploads/FoodStampsFollowtheMoneySimon.pdf

  • $8194357

    Global hedgefund bankers and money changers doing what they do best..
    Stealing the labor, property and lifes of those they ensnare in their webs/ponzis…
    GO FIGURE, HUH…

    http://teapartyeconomist.com/2012/08/17/multibillionaire-soros-has-sold-bank-shares-and-bought-gold/

    Quote:

    George Soros has made his money making high-risk trades, especially in currencies. He knows how to make money. Lots of money.
    He is also a verbal defender of what he calls the New World Order.
    He has sold his shares in large American banks. He has bought gold.
    Why would a big Obama supporter do this? Because he is a skilled investor.

    One commentator notes:
    Soros, who has written extensively of a coming global paradigm shift in his book The Crash of 2008 and What It Means, calling the current economic and political model ”an end of an era,” has recently suggested that the financial and economic situation across the world is so serious that Europe could soon descend into chaos and conflict. He also notes that the world is entering “one of the most dangerous periods in modern history”, and foresees violent riots in America and a brutal clamp-down by the government that will dramatically curtail civil liberties.This is an individual who not only predicted the collapse of 2008 and took action to insulate himself, he also proposed the various fixes that governments in Europe and the US would eventually implement in order to stave off a deflationary depression. In his aforementioned book he suggested that central banks infuse the system with massive amounts of monetary expansion, but also warned that not injecting enough money would simply extend the onset of deflation and printing too much could lead to hyperinflationary currency collapse.
    I say, good for him. He has at long last come to this position Ludwig von Mises took in 1912. Better late than never!

    Continue Reading on http://www.shtfplan.com

    End quote

    Fiat debt ponzi’s across the globe are on the verge of collapse…
    Since Jesus overturned their tables in the Temple.
    The money changers of old “still” manipulating paper and coin.
    Founders warned us about this….
    They wrote it into the Constitution to avoid its pit falls…
    To bad folks didn’t listen, huh…
    Rough times for the “targeted currency” comming?
    Bet on it…..
    The Feds believe it to the “tune of” 1.2 billion rounds of hollow point…

    • robert108

      All participation in what you complain about is voluntary, but obama spending our tax dollars to benefit his cronies isn’t voluntary. Big difference.

      • $8194357

        Voluntary?
        Try “not” paying the mandatory “tribute” taxes to the ruling elite and see how “voluntary”. your participation in their globalist ponzi schemes are…
        Under “incorperated governance” they own you, CITIZEN..

        • robert108

          Your first sentence: “Global hedgefund bankers and money changers…”
          Voluntary. George Soros is scum, but you don’t have to give him any of your money. He has plenty of willing thralls in the liberal population.

          • $8194357

            Narrow context perhaps..
            But they own DC and the waterboys and girls who do their bidding, so he profits from the systems they create at our expense..

          • $8194357

            His hedgefund is heavily invested in China after Billary gave them the technolgy to cut our throats on the global market at his request….

  • groetzinger

    He should have done what Cheney did and give them an open contract and then hide the cost

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