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Tag: Billionaire Welfare (page 2)

When In A Hole One Usually Puts Down The Shovel

By Corinthian Scales, Section News
Posted on Wed Jun 06, 2012 at 08:59:59 AM EST
Tags: Anyone but Stabenow, Air America, NObama, Stimulus Bill, Jennifer Granholm, SLUT, Current TV, GreenTard Energy, Rick Snyder, Anti-Right To Work, Will VETO R-T-W, DRIC-NITC, Light Rail boondoggles, Massive Federal debt is not a factor, Obamacare Health Exchange, Foreign National Job Preference, H-1B Visas, EB-5 Citizenship, Wholesale Gas Tax, Registration Fees, Government Funding, Cowardly with Detroits Financial Disaster, Roger Penske M-1 rail boondoggle, Billionaire Welfare, Progressives, Been there done that with Granholm (all tags)

via The Detroit News

A123 in April received a two-year extension on its deadline to spend a $249.1 million grant from the federal government, originally received in 2009. The money was to be used for the construction of new lithium-ion battery manufacturing facilities in Michigan. A123's Livonia plant opened in 2010, and its Romulus plant opened last year. The company had $120 million left of the $249.1 million grant.
The hiring announcement comes after the company has hit financial problems. In March, A123 said it would spend about $55 million to replace defective battery packs in five battery packages that were assembled at its plant in Livonia.
In addition, financial losses have accelerated. In its 2011 earnings, A123's loss grew 69 percent to $257.7 million from the year earlier. And in April the company reported a first-quarter loss of $125 million -- a 133 percent increase from the $53.6 million loss during the same quarter in 2011.
Rest here

But dammit, when it's a taxpayer funded hole you just put 400 new hands on the shovel to keep on digging.

Shovel ready...

(1 comment) Comments >>

Roger, Do Like Warren Buffett Should: Shut Up and Write A Check

By Corinthian Scales, Section News
Posted on Tue Jun 05, 2012 at 11:50:05 AM EST
Tags: Rick Snyder, Anti-Right To Work, Will VETO R-T-W, DRIC-NITC, Light Rail boondoggles, Massive Federal debt is not a factor, Obamacare Health Exchange, Foreign National Job Preference, H-1B Visas, EB-5 Citizenship, Wholesale Gas Tax, Registration Fees, Government Funding, Dave Bing, Cowardly with Detroits Financial Disaster, Progressives, Been there done that with Granholm, Roger Penske M-1 rail boondoggle, Billionaire Welfare (all tags)

via The Detroit News

Mayor Dave Bing and Gov. Rick Snyder met today in Bing's office with LaHood; businessman Roger Penske, chairman of the M-1 project; and several members of the Michigan's congressional delegation to discuss the issues.
....
Penske said he was "very excited" about LaHood's comments that he is in favor of the project. "We have to be sure we have all the technical information available to us," he said. "There's a concern, potentially, about who's going to run this."
Penske said it was clear the federal government wants a regional transportation authority [think bridge] to help with the project.
Investors with the M-1 group submitted their plans to federal officials in April. Group officials said they had raised most of the $137 million needed to build the line and pledged to pay 80 percent of the annual cost of operating it through 2025.
The rail line would extend 3.3 miles from downtown, north to the New Center Area.

Can y'all get over the size of the stones on those like Roger in the Billionaire Club walking around with their hand out for taxpayer money?

All of them in Detroit. Penske, Gilbert, Ilitch, and the Ford's. They all talk Free Market, but sure as hell don't mind Socialism when it comes to feeding their Crony Capitalism and Corporate Welfare wallets.

(2 comments) Comments >>

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