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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 >>
By JGillman, Section News
Carl Levin has a bridge to sell you over some swampland in Michigan.
In Mid-December, Senator Carl Levin posted a position piece supporting further battery technology spending by taxpayers in Michigan. He states:
In other words we have failed miserably in our efforts to date, and we should really double down.
"But now you're getting it. Reporters who visited the Michigan factory of the South Korean company LG Chem, which got $151 million in stimulus money to manufacture lithium-ion batteries, discovered workers sitting around playing Monopoly and poker. The employees said it wasn't their fault: "What do you do when there's no work?" "Sure why not follow THESE successes with additional money thrown around.
As far as going all-in with these schemes, one might better be served with the proverbial 'fool me once .." advice. Frankly, Senator Levin should take the advice given to Harry Reid by the weeper last night.
At least the recipient would be 'getting it' voluntarily.
(3 comments) Comments >>
We as taxpayers just spent About $113,000 per job created in Michigan.
That is the hard fact of what it took to get a battery plant built here to provide 3300 new jobs. Never mind the NEED for those jobs, or whether the new green economy demands it enough to make it PAY FOR ITSELF. It is the cost of having business DO BUSINESS in Michigan it seems, and no amount of common sense ought to dissuade our dear leaders from paying that price right?
And that price per job, is only if all goes well.
As we have seen by recent events, the MEDC record for picking winners is not even as accurate as my dog's method of identifying visitors. Never mind the trickle into the Michigan economy from these new jobs cannot offset the cost in taxes paid to make it possible. And Never mind the very people who are running the taxpayer supported operation say they haven't been profitable.. yet:
In a filing with the SEC, the company stated: "We have never been profitable. ...We have a history of losses, and we may be unable to achieve or sustain profitability."
With Michigan's cost alone being $125,0000,000.00, one must wonder about what worms are working their way through the mushy skulls of Michigan's leadership to allow such things to continue.
(5 comments, 748 words in story) Full Story
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