A123 Systems, an electric car battery company once touted as a stimulus "success story"
by former Gov. Jennifer Granhom, D-Mich., has laid off 125 employees
since receiving $390 million in government subsidies -- but is still
handing out big pay raises to company executives.
"[T]he company has laid off 125 employees and had a net loss of $172
million through the first three quarters of 2011," the Mackinac Center
for Public Policy reports,
observing that the company's primary customer, Fisker Automotive, is
also struggling financially. " More here:
Boy, they sure named these companies right ... "green" companies -- lmao.
Yes, the cronies of the politicians and lobbyists know how to fill out the paperwork and get your money so they can give giant salaries and bonuses to their buddies ... and contribute back to the politicians who help them. Awesome.
The big shocker is how these technologies don't work and the companies go broke ... cuz who on earth could have predicted that? (Apparently not our intellectual betters.)
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