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Taxpayers must pay the freight for over-budget train projects
Topic - A123'S Government
Creditors of a bankrupt U.S. battery maker that went broke after winning a multimillion-dollar federal grant want permission to hire a lobbying firm to keep the proposed sale of the company to a Chinese competitor on track.
Democratic and Republican politicians alike hailed the news in 2009 that U.S. battery maker A123 Systems had won a quarter-billion-dollar federal grant, but just three years later, the company finds itself bankrupt and the target of a buyout by a Chinese competitor.