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Dead Batteries

… facility will play an important role in its global strategy for the batteries." This report comes on the heels of another “green energy” failure as A123 Systems, another battery company, declared bankruptcy this week. The company was promoted heavily by President Obama and top Michigan Democratic politicians. … more

President Sees Bright Green Future for Battery Jobs; Details Show Reality Still Very Cloudy

… employees. The exception was A123 Systems which has just reached … battery companies, including A123 Systems, predict they will … investments in the first place? A123 Systems seems to be the closest … batteries in North America. A123 Systems is headquartered in … announced a contract under which A123 Systems would produce advanced … more

Subsidized Green Energy Company Struggles, Lays Off Workers — Rewards Top Executives

Analyst: 'It looks like they are trying to pad their top people’s wallets in case something really bad happens'

… Chief Financial Officer of A123 Systems — the battery manufacturer … first three quarters of 2011. A123 Systems also learned earlier … lay off its own employees. A123 Systems had invested $23 million into Fisker. Yet, this month A123’s Compensation Committee approved … really bad happens.” When A123 Systems announced it was opening … more

Video Shows President Obama, Top Politicians Praising Failed Green Company

Obama, Granholm, Levin, Stabenow and Energy Secretary Chu all praised troubled battery manufacturer

… subsidized and now-troubled A123 Systems battery manufacturer. … advanced battery manufacturer A123 Systems. A123 Systems, which opened its lithium-ion … action lawsuit was filed against A123 Systems this week on behalf … Business Week, the lawsuit claims A123 Systems withheld information … more

State Paid Company To Create Michigan Jobs — Or Move Them Elsewhere

One of Granholm’s failed electric car battery deals

… One of the firms was called A123 Systems Inc. The agency stated, … wasn’t the whole story, as A123 Systems explained in its own … Michigan. But this deal let A123 Systems keep the benefits even … been shipped out-of-state. A123 Systems filed for bankruptcy … October 2012. In the SEC report A123 Systems stated, “We experienced … more

“Funny Numbers”

Critics of special business subsidies say state’s economic planners use shaky data to make decisions

… 300 new Michigan jobs, and A123 Systems’ production plans project … Corporation is projecting for the A123 Systems plant. The state is … briefing memo from April of 2009, A123 Systems plans to create 844 … aren’t jobs created by the A123 Systems plant, but jobs that … bothers him is how few jobs A123 Systems is required to create … more

Michigan Taxpayers Writing Check to Second Electric Car Battery Maker for $100 Million

… electric car battery plant, A123 Systems, will receive a $100 … House and 38-0 in Senate. The A123 Systems renaissance zone award … business tax credits for both A123 Systems and LG Chem.* "Refundable" … Commission, Massachusetts-based A123 Systems is the beneficiary … renaissance zone status.) A123 Systems is also the recipient … more

Yes, Granholm's Administration Gave Cash To Failed Electric Car Battery Company

She denied it in a U.S. Senate confirmation hearing

… the hearing. Barrasso cited A123 Systems, a company that had promised 3,000 jobs in Michigan. A123 Systems received authorization … bankruptcy. A Chinese firm bought A123 Systems’ intellectual property. … Granholm’s administration offered A123 Systems $100 million in battery … the public. It is known that A123 Systems received state payments … more

Failed Corporate Welfare Flashback: Company Warned, ‘We Have Never Been Profitable’

A123 Systems was an electric car battery company that received millions in taxpayer-funded subsidies from the state and federal government before filing for bankruptcy in 2012.  A123 Systems wrote this in its 2011 annual report: "Risks Related to Our Business … more

“…Funny Numbers They Pull Out of Their Backside”

Critics of special business subsidies say state’s economic planners use shaky data to make decisions

… 300 new Michigan jobs, and A123 Systems' production plans project … Corporation is projecting for the A123 Systems plant. The state is … briefing memo from April of 2009, A123 Systems plans to create 844 … aren't jobs created by the A123 Systems plant, but jobs that … bothers him is how few jobs A123 Systems is required to create … more