Posted on 02/26/2012 12:06:52 PM PST by matt04
An electric car battery company reportedly has laid off 125 employees since receiving $390 million in government subsidies, but is still handing out big pay raises to company executives.
A123 systems, which was touted as a stimulus "success story" by former Gov. Jennifer Granholm, D-Mich., had a net loss of $172 million through the first three quarters of 2011, according to the Washington Examiner's "Beltway Confidential" blog, citing a report from the Michigan-based Mackinac Center for Public Policy.
A123's primary customer, Fisker Automotive, is also struggling financially. "Yet, this month A123’s Compensation Committee approved a $30,000 raise for [Chief Financial Officer David] Prystash just days after Fisker Automotive announced the U.S. Energy Department had cut off what was left of its $528.7 million loan it had previously received.”
(Excerpt) Read more at foxnews.com ...
Socialism is legal plunder - Frederic Bastiat 1801-1850
Is there any doubt that we are under siege by socialists?
These over-paid tax-sucking parasites are. of course, expected to kick thousands of bucks to the Obama re-election campaign. It’s the usual money-laundering operation of the Democrat Party.
What a country! The stats don’t lie..
This is a Win Win for Obama!
It means more cheap campaign workers for O and more donations from the well-bonused execs!
Are there any pictures of the investors, directors, officers and management of the firm.? What are the names of any private investors? (We had Kaiser as the main private investor for Solyndra!)What is the relationship of the investors, board, directors, officers and managers of this firm to “The Divine One” or his campaign?
Jennifer Granholm ran Michigan into the ground; now she has a talk show on TV (right next to Fox).
I can still hear Hillary’s voice calling the Republicans a Culture of Corruption. That plus 8 years of blasting Bush on every imaginable thing and the MSM’s cooperation in hiding who Obama really is gave the election to the Democrats.
She looked and sounded a fool this morning on ABC with three-term Gov. Engler taking on Obama’s poor policies and by implication demonstrating what a evil socialist stooge she really is.
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