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Tag: Taxpayer Abuse
By Corinthian Scales, Section 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.
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 >>
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.
(2 comments) Comments >>
By JGillman, Section News
Well, its just time to break out the old cartoon again.
A Republican, Rick Snyder, is the father of the MEDC. It was his baby, and lest anyone forget, it was created under the Republican Engler administration. The MEDC, which has yet to produce a model that definitively demonstrates taking taxpayer funds, then giving those funds to hand picked "winners" produces net economic growth in our state. The MEDC which essentially could be called a taxpayer funded venture capital scam.
The MEDC's MEGA, The state of Michigan through Tax Breaks, and the DOE, which gave us that "success story" A123 systems.:
"When A123 Systems announced it was opening its lithium-ion battery manufacturing plant in Livonia in September 2010, then Gov. Jennifer Granholm wrote about it on the Huffington Post calling it "a Recovery Act success story."
Yeah, that's a winner.
In fact doing so well, taxpayers should be happy to know that the top brass in the company thanks them for providing a generous raise.
But wait, I was talking about Republicans right? Right. - Below the fold.
(4 comments, 1158 words in story) Full Story
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