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$249 Million -> Bankrupt

  1. profile image0
    JaxsonRaineposted 5 years ago

    http://autos.yahoo.com/blogs/motoramic/ … 06554.html

    A123 lost to South Korea's LG Chem for the bid to make batteries for the Volt.

    Another win for Americans.

    1. habee profile image90
      habeeposted 5 years agoin reply to this

      I read that earlier on a different site. Great.

    2. movingout profile image61
      movingoutposted 5 years agoin reply to this

      Awarded to LG Chem to come to this country, build a plant, and create American jobs. A lot different then Romney benefiting from "blind trust interests in China", which makes him money, but doesn't create American jobs.

      1. profile image0
        JaxsonRaineposted 5 years agoin reply to this

        Lol.

        1 - So an American company wouldn't have created jobs with  that contract?

        2 - Do you have any idea how a blind trust works?

        3 - Do you realize that almost any investment will directly or indirectly involve China?

  2. movingout profile image61
    movingoutposted 5 years ago

    President Bush was also in favor of A123 and Vieux in 2007. Company failed for lack of interest by Americans in electric cars. I guess they would rather pay high gas prices instead?

    1. profile image0
      JaxsonRaineposted 5 years agoin reply to this

      Pay high gas prices, or pay high prices for electric cars(which often can't do what people need them to do).

      Do you have any idea how much a Volt actually costs?

    2. psycheskinner profile image81
      psycheskinnerposted 5 years agoin reply to this

      Well, also because the makers would rather have a cheaper overseas supplier.  Save the planet by flying parts all over the world on gas-run planes...?

      1. movingout profile image61
        movingoutposted 5 years agoin reply to this

        Follow the money! Greed and profit at the expense of the American worker!

  3. movingout profile image61
    movingoutposted 5 years ago

    Everyone wants new technology, but reluctant to let go of the past in some instances. This is just such an instance. Both Adminstrations thought it was a good idea. Problem is, people talk a big game, but don't walk the walk! Yes I do know what they cost, and also remember what a car cost and gas cost was, 50 years ago! People will spend ridiculous amounts of money on cell phones and other high tech toys!

    1. profile image0
      JaxsonRaineposted 5 years agoin reply to this

      Ok... so it's Americans' faults for there not being demand for an expensive, unproven, often impractical tech...

      and not the government's fault for trying to artificially create the demand?

      1. movingout profile image61
        movingoutposted 5 years agoin reply to this

        So success stories like this is better when you refer to costs? Just curious?
        http://www.motherjones.com/politics/201 … al-funding

        1. profile image0
          JaxsonRaineposted 5 years agoin reply to this

          You're going to need to be a bit more clear in your arguments, other than posting long articles. I don't argue with news articles.

          1. movingout profile image61
            movingoutposted 5 years agoin reply to this

            lol...bankruptcy was filed, now watch the vultures! A123 has assets of $459.8 million and debts of $376 million. Johnson Control has made an offer as did China.China is sitting on the fence, waiting to jump on the business, not for the agreed price with 80% interest in the company, but 100% ownership of the company. If the bankruptcy court lets it go for pennies on the dollar, we lose as taxpayers. If it goes for asset price or debts, its about a wash. China wouldn't be after this company if they didn't want to be the leaders in the world in regards to batteries. Something to think about. As for my "news article", it shows Romney's approach to saving the winter olympics at a unbelieveable amount of taxpayer money. It would be worth your time to read the article. John McCain was shocked by the costs and demanded investigations.

            1. profile image0
              JaxsonRaineposted 5 years agoin reply to this

              Sorry, I'm really having a hard time understanding what points you are trying to make. You respond to something I say, but your response has nothing to do with what I said.

              As for the Olympics... the article is misleading. Salt Lake took $400 million in federal funding for the Olympics, not $1.5 billion.

              One difference is, the Olympics were a success. Solyndra took more, and wasn't a success.

              1. habee profile image90
                habeeposted 5 years agoin reply to this

                Wasn't most of the Olympics money for security?

  4. movingout profile image61
    movingoutposted 5 years ago

    Romney did more then security!
    http://thinkprogress.org/progress-repor … tsourcing/
    Is this the way he would run the country if elected?

    1. habee profile image90
      habeeposted 5 years agoin reply to this

      I think you need to check out a better source:

      http://www.factcheck.org/2012/02/slalom … pic-facts/

      1. movingout profile image61
        movingoutposted 5 years agoin reply to this

        That's a better source? It the long way around explaining how all the money was spent. McCain had it right, Romney became a lobbyist and added lots of earmarks into the equation. Spin it any way you like and it's fine you'll accuse me of spinning it as well!

        1. profile image0
          JaxsonRaineposted 5 years agoin reply to this

          Hint: thinkprogress is VERY left-biased.

          1. movingout profile image61
            movingoutposted 5 years agoin reply to this

            Hint...think 47%

  5. kathleenkat profile image83
    kathleenkatposted 5 years ago

    I often see Volts driving around my work (Seattle area). Though this is a high-income area, the Volt is rather *reasonably* priced, and obtainable for those in the average income range for the area. It's base price is about 30k, as I recall. I toyed around with getting this car, but as it is newer technology, I always try to wait a few years to make sure it lasts. Any car I buy I want it to last another 200,000+ miles, and quite frankly, I still trust gasoline cars more than electric/hybrid cars to last.

    That being said, if the Volt used batteries manufactured in the States, it would definitely cost more. That's just the 'inconvenient truth' here, people in Korea do very well for themselves on 15k-20k per year, wheras in the US the same production job would likely pay somewhere between 30k and 50k. The Volt would certainly sell less if it costs more, and likely wouldn't be able to sustain those expensive US workers for a long time.

    Chevy did what was in the best interest to ensure the the future of their product. Whether that was in the best interest of our economy is another issue all together: Then, we must scrutinize ALL companies that outsource work or import goods from other countries. And that's a really big number.

 
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