A123 Got $1M From Gov On Same Day It Went Bankrupt


It’s an Obama Nation.


Battery-manufacturer A123 Systems Inc. received a $249 million grant under President Barack Obama’s green energy initiative including nearly $1 million from the federal government the same day it declared bankruptcy, Reuters reports:

The company, which makes lithium ion batteries for electric cars, filed for Chapter 11 bankruptcy protection last month after a rescue deal with Chinese auto parts supplier Wanxiang Group fell apart. READ MORE


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