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    Tag: Card Playing

    Shocking Development .. kinda not


    By Corinthian Scales, Section News
    Posted on Wed Feb 13, 2013 at 02:51:33 PM EST
    Tags: LG CHEM, Wealth Redistribution, Crony Capitalism, Jobs, Card Playing, Economic Development, Green Subsidy, Batteries, Taxpayer Abuse, DEQ, The Green Organisation Ltd, Reinventing Climate Change, Fred Upton Curlicue Light Bulbs, Red China, A123 Systems, ChiComs, Government Funding, MEDC, LEED, UN Agenda 21, ICLEI, Michigan, Rick Snyder, Been there done that with Granholm (all tags)

    Detroit News

    A Michigan-based company slated to produce lithium-ion polymer batteries for electric vehicles has instead kept production overseas, has failed to meet job targets outlined in a $150 million grant from the federal government, and has been reimbursed by the government for $842,000 in wasted work time, according to a U.S. Department of Energy Special Report released Wednesday.

    The DOE says Holland, Mich.-based LG Chem Michigan misused part of a $150 million in American Recovery and Reinvestment Act funds and has decided not to shift production from its plant in South Korea to Michigan. It painted a stark picture of wasted U.S. federal dollars.

    "Until the shift in production takes place or some alternative use for the plant is developed, U.S. taxpayers will receive little direct benefit from a plant for which they provided up to half of the funding," the report said.

    MORE

    Thank God the republicans in Lansing, didn't throw away taxpayers money overseas on Green crap like those reckless big spending Democrats... Oh! Wait.

    (1 comment) Comments >>

    Crony Capitalism


    By JGillman, Section News
    Posted on Fri Oct 19, 2012 at 10:23:22 AM EST
    Tags: Michigan, Cronyism, LG CHEM, Taxpayer Abuse, Jobs, Card Playing, Economic Development (all tags)

    Its one of those emerging truisms; Government ought not be involved, interfere, or invest in business.

    It never seems to end well.

    LG Chem which promised 300 jobs, received a $150,000,000.00 Fed grant, $7,000,000. more in fed paid training and $700k in health coverage, has bored employees.  The employees, which might have been present at the federally funded $500,000.00 groundbreaking with special guest Barack Obama might need to hang around a little longer so that Michigan can cough up its promise of $125,000,000.00 in credits as well.

    A little report worth watching.

    A year from now this plant will be empty.

    Just watch.

    (2 comments) Comments >>

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