A123 makes batteries for the Chevy Volt. China has to rescue a battery maker for a car that this administration is touting. What could be more revealing about the failure of this administration? Yet, they are still a serious about voting for this guy?
At this point most Americans (those who are paying attention, anyway) would be happy to see A123 go – anywhere else – if the money from taxpayers was returned. The company has committed repeated blunders with battery recalls and explosions, an investor class action lawsuit, and management cronyism with the Obama administration, while it also found ways to enhance executives’ severance should the company change ownership. To emphasize the incompetence, A123 reported an $83-million loss in the second quarter, which followed losses of $85.8 million in 2009, $152.6 million in 2010, and $257.7 million last year.
GM has come roaring back, says Obama. Yeah, right.
No comments:
Post a Comment