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Raise the curtain.

Senator Stabenows' Green is the new Brown

By Corinthian Scales, Section News
Posted on Thu Jul 21, 2011 at 12:54:56 AM EST
Tags: Debbie Stabenow, Battery Innovation Act, Public Private Partnerships, Taxpayer Subsidies, Wealth Redistribution, Ponzi schemes (all tags)

Yessiree, folks. Yet another Green Job PPP (Public Private Partnership) in Michigan is swirling down the commode.

Solar energy products manufacturer Energy Conversion Devices Inc. -- the firm that invented the battery technology used in most hybrid vehicles on the road -- said Tuesday it plans to sell its profitable battery subsidiary.

But of course, all smart, successful corporations deep-six the profitable side of their business. Nah, it couldn't have anything to do with a realization of Chevy Volt sales or the death of a Ponzi scheme in Salinas, California.

In May, the company announced plans to lay off 300 workers, including 115 in Michigan, after posting a $243 million quarterly loss and suffering the effects of cutbacks in government incentives overseas. The company primarily makes, sells and installs thin-film flexible solar products and systems to the building and rooftop markets and now has about 1,300 employees.

Solar. Ya, that side of ECD, Inc. leeching $37 million out of taxpayers pockets belongs to Debbie's friend Jenny.

But this battery thing...

...it's ALL on Sen. Debbie Stabenow.

U.S. Senator Debbie Stabenow today unveiled a major new initiative that she authored to expand Michigan's advanced battery industry and create new clean energy jobs. Stabenow unveiled her new legislation, the Battery Innovation Act, during a press conference at A123 Systems in Livonia. Stabenow's Battery Innovation Act is the first comprehensive plan offering Michigan companies the support they need to expand advanced battery production and job growth and ensure that America wins the race in the development of new advanced energy technologies.

Nice, eh? Oh, and that battery piece of ECD, Inc. now on the block...

"Given Energy Conversion Devices' focus on its solar business, we have elected to seek a buyer that will leverage Ovonic Battery Co.'s substantial technology portfolio ...," Energy Conversion's interim President Jay Knoll said in a statement.
The battery division, based in Rochester Hills with 45 employees, was founded in 1982 but generates less than 10 percent of its revenues, said Michael E. Schostak, head of corporate development and communications for Energy Conversion Devices.
"We believe we'll get top dollar for it," Schostak said.
"And we also believe a buyer may be in a better position to realize its growth opportunities."

Top dollar for it? Ya, but with whose money? Those using Stabenow/Obama bucks?

My, my, my... what a gravy train of wealth redistribution all this Green Job/Energy crap has become for raiding the taxpayer wallet. And it's all being orchestrated at the hands of the elected class such as Sen. Stabenow. Nice racket.

If only I didn't have to look in the mirror...

< The Sky Is Falling! The Sky Is Falling! | Rule of Law Versus Democracy in Detroit >

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Senator Stabenows' Green is the new Brown | 6 comments (6 topical, 0 hidden)

Incentives? (none / 0) (#1)
by archiespeck on Thu Jul 21, 2011 at 10:56:56 AM EST

I would just like to know when "subsidies" became "incentives"? If the government gives you money because your idea/product has no value in the marketplace, it is a SUBSIDY.

And it just does not end... (none / 0) (#2)
by Corinthian Scales on Thu Jul 21, 2011 at 02:55:37 PM EST

Today in the fish wrap they ran a fluff piece from Mexifornia pushing this battery crap.

So the global race is on to build a better lithium-ion battery, one that pulls off the herculean feat of extending range while being long-lasting, affordable, quick-charging and safe.
In Asia, governments and big battery companies are investing heavily in next-generation battery technology, while in the United States, much of the cutting-edge research is being performed at Department of Energy labs and universities.
The San Francisco Bay Area -- home to Palo Alto, Calif.-based Tesla Motors, Lawrence Berkeley National Laboratory and two dozen battery startups -- has emerged as one of the leading hubs of battery innovation.
"Transportation is going to go electric, and batteries have become a real critical technology," said Steve Visco, chief technology officer of PolyPlus, a startup spun out of the Berkeley lab. "The Chinese government is subsidizing a lot of battery research, and in Japan the companies have 10-, 20- and 30-year technology road maps."

Of course the Chicoms are pushing this crap. The Chicoms own the metals. America imports 100% of the metals needed from the Chicoms to build the useless damn batteries that our manufactures are being subsidized to make. They win on both sides. Tank rou vely much Amelican suckas. By the ray, rour intelest payment is due...

Gee, now where have I seen a nation out maneuver another empire into oblivion before? Oh, wait... It was here.

Ya, "I am Debbie, dammit! Hear me preen" ...in the name of Socialism.

I just can't wait for all the rolling brownouts to start if commies within like Stabenow and Resident Obogey finally get their way with plug-in golf-cart mobiles 'cause we sure is hell aren't creating any power plants in this country, and the ones we've got that are a majority coal fired; they're chasing them out of business.

Yannow, if it were up to me... I'd buckle the damn Chicoms Rare Earth Metal knees along with OPECs by sinking the first of many oil wells in America, post haste.

It'd be drill baby drill and frack baby frack.

End of story.