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View Full Version : Eco-scams are as easy as “A123″



Eric Johnson
03-30-2012, 06:07 PM
http://michellemalkin.com/2012/03/30/eco-scams-are-as-easy-as-a123/

http://tinyurl.com/7e4vx4e

by Michelle Malkin
Creators Syndicate
Copyright 2012

While President Obama was busy lambasting Big Oil tax breaks on Thursday, yet another one of his environmental welfare recipients (the very kind he wants to redistribute oil subsidies to) was teetering on the edge of bankruptcy. Who needs to win the Mega Millions lottery? Start a pie-in-the-sky eco-boondoggle, and a half-billion-dollar jackpot ripe for squandering is all yours!

The Solyndra of the week is A123 Systems, an electric vehicle battery company based in Massachusetts. The firm also has battery plants in Michigan, where former Democratic Gov. Jennifer Granholm once heralded A123 as a federal stimulus “success story.” Former House Speaker Nancy Pelosi visited the company headquarters and hailed it as a “great example of how Recovery Act funding is helping American companies.” In addition to nearly $300 million in Obama Recovery Act funds, Granholm kicked in another $135 million in tax credits and subsidies to bribe the company to keep jobs in her state.

How’s the return on government investment? This green dud will have taxpayers seeing red. A123′s official company motto is “Power. Safety. Life.” But the firm’s reality is “Out of power. Endangering safety. Clinging to life.”

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Gerry Clinchy
03-30-2012, 10:00 PM
Did any actual green "winners" get any of these loans? Just wondering.