The Obama touch sinks another business.
If you had a business that Obama was enthusiastic about it is clear you need to sell out as fast as you can. Midas had a touch, Obama brings doom. The hell of it is if you are a tax payer, it was your money he pissed away. If you are not a taxpayer then it probably doesn't matter
President Obama touted it in 2010 as evidence “manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced.
Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month based on lack of demand for lithium-ion cells.
The facility, which was opened in July 2010 with a groundbreaking attended by Obama, has yet to produce a single battery for the Chevrolet Volt, the troubled electric car from General Motors. The plant’s batteries also were intended to be used in Ford’s electric Focus.
Production of the taxpayer-subsidized Volt has been plagued by work stoppages, and the effect has trickled down to companies and plants that build parts for it — including the batteries.
You can't create a stable company until you have something that people want. Despite their desire for higher gas and energy prices, the fact is that most of these technologies won't be cost effective until gas prices get closer to $10 a gallon.
|All times are GMT -6. The time now is 08:55 AM.|
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2015, vBulletin Solutions, Inc.