The A123 Systems Story - A BIPARTISAN Case of Bailing Out Wall Street before Main Street

[LovingA2andMI]

This is why giving Government Grants to so-called companies instead of Bailing Out American CItizens and particular American HOMEOWNERS from the games played by big business or AMERICAN student loan recipients....is rarely a good thing.

BUT despite what you will hear in the media....A123 Gov't Grant had BI-PARTISAN support.....not just support from Dems or President Obama

"The U.S. Department of Energy awarded a $249-million grant to A123 in August 2009 with promises of 5,900 jobs, mostly in Michigan. The Michigan Economic Development Corp. also awarded A123 more than $125 million in a variety of tax credits, grants and incentives in 2008 and 2009. The U.S. grant and Michigan incentives drew bipartisan support when they originally were approved."

Democrats responded that during his 2002-06 term as governor of Massachusetts, Romney also provided support to emerging technology firms and some of the investments did not pay off. Meanwhile, the Department of Energy pointed out that A123's investment had bipartisan support from Michigan lawmakers, including incumbent Democratic Sen. Debbie Stabenow and her Republican challenger, Pete Hoekstra.

"Johnson Controls' investment in A123 will help ensure that the U.S. remains competitive in this growing global sector," said former Democratic Michigan Gov. Jennifer Granholm, who promoted battery tax incentives as a way to boost the Michigan economy.

http://www.freep.com/article/20121017/NEWS01/310170071/A123-lithium-ion-battery-maker-bankruptcy-fuels-Republican-criticism-of-President-Barack-Obama-s-alternative-energy-policy?odyssey=mod%7Cnewswell%7Ctext%7CMichigan+news%7Cs

And speaking of that Bi-Partisan support....

Mr. Secretary, establishing a North American battery center of gravity in Michigan will significantly improve the federal government's ability to more swiftly meet its ambitious vehicle electrification goals, and will pay dividends across the industrial Midwest through development of a strong supply chain. As the Department begins its review process, it is clear that our nation needs to 'get it right the first time' in deploying these recovery grant dollars.

Among the other names on that letter: Rep. Pete Hoekstra. It was really only three-odd years ago that "green energy" was a popular environmental wedge issue that both parties wanted a piece of.

http://www.slate.com/blogs/weigel/2012/10/16/gop_senate_candidate_who_pleaded_for_a123_funds_now_blames_democrats_for.html

Yeap.... BIPARTISAN Support with 7 Republican Representatives SUPPORTED allocating the $249 MILLION dollar grant to A123 along with 9 Democrats

In summary, Mr. Secretary, establishing a North American battery center of gravity in Michigan will significantly improve the federal government's ability to more swiftly meet its ambitious vehicle electrification goals, and will pay dividends across the industrial Midwest through development of a strong supply chain.

Sincerely,
The Michigan Delegation
Senator Carl Levin
Senator Debbie Stabenow
Congressman John D. Dingell
Congressman John Conyers
Congressman Fred Upton - Republican
Congressman Dale Kildee
Congressman Sandy Levin
Congressman Vern Ehlers - Republican
Congressman Pete Hoekstra - Republican
Congressman Bart Stupak
Congressman David Camp - Republican
Congresswoman Carolyn Cheeks Kilpatrick
Congressman Thaddeus McCotter - Republican (Now Resigned)
Congresswoman Candice Miller - Republican
Congressman Mike Rogers - Republican
Congressman Gary Peters
Congressman Mark Schauer

http://kildee.house.gov/2009/05/pr-051909-batteries.shtml

Can we for ONCE BAILOUT the MIDDLE or LOWER CLASS Americans before these "popped-up" companies again, ever?