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Taxpayers must pay the freight for over-budget train projects
Topic - Johnson Controls Inc.
Lobbyists are swarming on both sides of the pending sale of a U.S. battery-maker backed by more than $100 million in federal grants that soon could be in the hands of a Chinese competitor.
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.
A Delaware judge is giving final approval for Chinese auto-parts maker Wangxiang Group to provide $50 million in bankruptcy financing for battery maker A123 Systems.
The recent bankruptcy of battery maker A123 Systems after it won a nearly quarter-billion-dollar federal grant threatens the business prospects of another well-known government-backed company: luxury car manufacturer Fisker Automotive.
Two senior Republican senators called on the Department of Energy to explain whether the bankruptcy filing Tuesday by an electric car battery maker, A123 Systems Inc., which was awarded nearly $250 million in government stimulus grants, will result in any taxpayers losses.
It wasn't enough to preside over the first-ever downgrade of America's credit rating. Now the Obama administration is downgrading America's energy supply as well. "We'll invest $15 billion a year over the next decade in renewable energy, creating five million new green jobs that pay well, can't be outsourced and help end our dependence on foreign oil," candidate Barack Obama promised in the fall of 2008. But why stop there? Why not claim that you can heal the planet - whatever that means - and control the ocean levels too? Oh yeah, he did.
The White House on Thursday defended President Obama's fundraising jaunt to Manhattan, where he headlined a pair of exclusive events for high-dollar donors after a visit to an advanced battery plant in Michigan.
President Obama celebrated the opening of an advanced battery plant in Michigan on Monday as a critical boost for hybrid and electric cars — and a success for his administration's economic stimulus program.